Crypto Exchange comparison
CoinSpot vs Kraken
CoinSpot and Kraken are both legitimate, AUSTRAC-registered crypto exchanges available to Australian investors, but they suit very different styles of trading. CoinSpot is the simpler, lower-minimum option built for casual buyers who want to get in with as little as $1 and use familiar payment methods like PayID, BPAY or even cash. Kraken is the more sophisticated platform, offering a desktop interface, tighter spreads on its professional tier, and 24/7 phone support — but it demands a $5 minimum and lacks the breadth of deposit options CoinSpot offers.
Choose
CoinSpot
if…
- ›You want to start trading crypto with as little as $1 — the lowest minimum on any major Australian exchange
- ›You prefer paying via BPAY, POLi, PayPal, or even cash through Blueshyft — Kraken doesn't offer any of these
- ›You want a more sophisticated auto-invest feature that lets you set multiple rules across different coins and intervals
- ›You're a first-time crypto buyer who values the widest range of familiar Australian deposit methods over advanced trading tools
Choose
Kraken
if…
- ›You want a proper desktop trading platform with advanced charting and order types — CoinSpot has no desktop app at all
- ›You value 24/7 phone support — Kraken offers phone support around the clock, while CoinSpot only has live chat
- ›You want to fund your account via Apple Pay or Google Pay — Kraken supports both in its mobile app
- ›You prefer a globally established exchange founded in 2011 with deeper liquidity on major pairs
Where they differ
| Fact | CoinSpot | Kraken |
|---|---|---|
| Minimum initial deposit | $1 AUD | $5 AUD |
| Desktop platform | No desktop app | Full desktop platform available |
| Deposit methods | PayID, OSKO, BPAY, POLi, Debit/Credit Card, PayPal, PayTo, Cash (Blueshyft) | PayID, Osko, Debit/Credit Card (mobile app), Apple Pay, Google Pay |
| Auto-invest sophistication | Multiple rules across coins and intervals | Single asset, single rule |
| Phone support | Not available | 24/7 phone support |
Verdict
Choose CoinSpot for the lowest barrier to entry and broadest deposit options; choose Kraken for desktop trading and 24/7 phone support.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | CoinSpot | Kraken |
|---|---|---|
| account structure | ||
| Individual account | Yes | Yes |
| Joint account | No | No |
| Company account | Yes | Yes |
| Trust account | Yes | Yes |
| SMSF account | Yes | Yes |
| Kids / minor account | No | No |
| asset coverage | ||
| ASX shares supported | No | — |
| ASX ETFs supported | No | — |
| US shares supported | No | — |
| US ETFs supported | No | — |
| Other markets supported | — | |
| Fractional shares (ASX) | No | — |
| Fractional shares (US) | No | — |
| Options trading | No | — |
| CFDs supported | No | — |
| Crypto trading | Yes | Yes |
| Managed funds | No | — |
| Bonds supported | No | — |
| IPO access | No | No |
| costs hidden | ||
| Market data fees | — | $0/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| ASX brokerage percentage | 1% | — |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| identity and trust | ||
| Legal entity name | Casey Block Services Pty Ltd | Bit Trade Pty Ltd (trading as Kraken) |
| AFSL number | 547,881 | 545,124 |
| AUSTRAC registration | Yes | Yes |
| Year founded | 2,013 | 2,011 |
| Parent / ownership | Casey Block Services Pty Ltd (privately owned; founder Russell Wilson holds ~77% stake) | Payward, Inc. (Bit Trade Pty Ltd acquired by Kraken in 2020) |
| Country of incorporation | Australia | AU |
| Public company status | private | private |
| money movement | ||
| Minimum initial deposit | $1 | $5 |
| Minimum subsequent purchase | $1 | $5 |
| Deposit methods | PayID, OSKO direct deposit, BPAY, POLi, Debit/Credit Card, PayPal, PayTo, Cash (Blueshyft) | PayID, Osko bank transfer, Debit card (mobile app), Credit card (mobile app), Apple Pay, Google Pay |
| Withdrawal time | Same-day for AUD bank withdrawals submitted before 2pm AEDT on weekdays; otherwise next business day. First withdrawal may take up to 1 business day. | AUD withdrawals via Osko bank transfer typically same business day (PayID withdrawals not yet supported) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | Yes |
| Demo account | No | No |
| Free real-time market data | Yes | Yes |
| Free research reports | No | No |
| 2FA support | authenticator_app | authenticator |
| Customer support channels | live chat, email, help desk ticket, callback request | 24/7 live chat, email, support portal, phone (24/7) |
| Support hours (AU time) | 24/7 live chat; email/ticket responses generally within operational hours (approx 7am-midnight AEDT weekdays, 8am-noon AEDT weekends) | 24/7 (live chat and phone) |
| Education content | structured_articles | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | Yes |
| Distribution component breakdown | No | — |
| CGT calculator / report | No | No |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | multiple | single asset |
| After-hours / overnight trading | Yes | Yes |