BTC Markets vs Coinstash? Which exchange do you choose?
Choosing the right exchange to manage your cryptocurrency investments is critical, but it’s not just a question of cost. Selecting the best crypto exchange for your needs comes down to your experience and trading goals, along with the platform’s features and ease of access to your crypto assets of choice.
BTC Markets and Coinstash are two top Aussie platforms worthy of a closer look. BTC Markets focuses on a few dozen of the high-volume crypto heavy-hitters, while Coinstash extends its reach to more than 1000 cryptocoins for those looking to manage a much broader portfolio.
Here’s a quick overview before we dive into the details:
BTC Markets vs Coinstash
| BTC Markets | Coinstash | |
| Cryptocurrencies supported | 42 | 1188 |
| Fiat Currencies Supported | AUD, USD, GBP, SGD, NZD, EUR | AUD |
| Deposit Methods | Australian issued debit/credit card (Visa/Mastercard), Osko (PayID), Bank Transfer, Cryptocurrency | Osko (PayID), Bank Transfer, Cryptocurrency |
| Trading fees | -0.05% to 0.85% | 0.13% to 0.85% |
| Headquarters | Melbourne, Australia | Brisbane, Australia |
BTC Markets overview
Established in 2013, BTC Markets was one of the first crypto exchanges to list in Australia. Since then, it has served more than 336,000 clients and facilitated trades worth more than AUD$25 billion. The business is AUSTRAC registered as well as certified with the Australian Digital Commerce Association (ADCA).
BTC Markets is focused on major high-volume coins, with the flexibility of supporting a range of popular fiat currencies beyond AUD.
Pros:
- Supports a range of fiat currencies including AUD
- Supports credit/debit card deposits
- Fee discounts for high trading volume
- Australia-based and AUSTRAC registered
Cons:
- Only supports the major high-volume coins
Coinstash overview
Established in 2017, Coinstash supports one of Australia’s largest ranges of cryptocurrencies. It has served more than 40,000 clients and surpassed AUD$1.3 billion in total trading volume. The business is AUSTRAC registered.
Coinstash is focused on both high-volume and altcoins, catering specifically to Australians with support for AUD.
Pros:
- Supports a vast range of both high-volume coins and altcoins
- Fee discounts and loyalty points for high level of assets and trading volume
- Australia-based and AUSTRAC registered
Cons:
- Only supports AUD fiat currency
- No deposits via debit/credit card
Supported cryptocurrencies
BTC Markets focuses on around 40 mainstream, high-volume coins. It supports most of the coins with the largest market caps – Bitcoin, Ethereum, Tether and XRP – although it overlooks major speculative memecoins like Dogecoin, Shiba Inu and Pepe. This, and the fact it is older than Coinstash, helps explain why BTC Markets’ total trading volume is considerably higher.
Coinstash casts its net much wider. It supports more than 1000 coins to satisfy lower market cap altcoin investors as well as those interested in memecoins. Coinstash also offers Bundles, the equivalent of cryptocurrency ETFs, which supports simplified and diversified investment strategies.
Fees
| BTC Markets | Coinstash | |
| Trading fees | Maker -0.05%, Taker 0.2%1 20.10% to 0.85%3 | Maker 0.85%, Taker 0.85% 4 |
| Deposit fees | Only when using debit/credit card | None |
| Fiat Withdrawal fees | None5 | None5 |
| Management fees | None | None |
| Inactivity fees | None | None |
Points
- BTC market pairs
- VIP Program tiers are based on 30-day trading volumes ($500k–$1m, $1m–$5m, $5m+), offering fee discounts
- AUD/USDT market pairs, based on 30-day volume
- Membership tiers determine trading fees, based on assets and trading volume over the last 90 days. Platinum members with more than $100,000 in assets and $180,000 trade volume receive a 75% trade fee discount. Diamond members ($250,000+ assets and $500,000+ trade volume) receive a 75% discount. It’s 85% for Black members ($500,000+ assets and $1,000,000+ trade volume). All members can also earn loyalty points, redeemable for cryptocurrency or merchandise.
- Fees vary when withdrawing cryptocurrencies rather than fiat currencies
Security
Coinstash requires verification for withdrawals and increasing transaction limits. For BTC Markets, verification is required for depositing, withdrawing or trading. As an extra layer of security when logging into your account, both offer the option of two-factor authentication.
Only BTC Markets supports cold hardware wallets for storing your crypto offline. Neither platform has experienced a major security breach.
Ease of use and mobile app
Both exchanges make it easy to sign up, and offer a clutter-free, simple-to-use interface, although Coinstash is slightly easier for absolute beginners to master. Along with access via desktop browser, both exchanges offer mobile apps for iOS and Android.
Features and tools
Coinstash’s appealing features include EFT-style crypto Bundles, loyalty points and discounted fees for large asset bases and trading volumes.
Similarly, BTC Markets operates a VIP program with fee discounts and other benefits for customers with high trading volumes.
Both exchanges offer an OTC desk for larger trades, Self-Managed Super Fund integration and APIs for trading using third-party tools.
Customer support
Coinstash offers an Australian-based support team via email or live chat between 9am and 11pm. BTC Markets offers support via email or a help desk ticket, although extra direct support channels are available as part of the VIP Program.
BTC Markets and Coinstash both enjoy good reputations amongst users, with Trustpilot scores of 4.6 and 4.3 respectively.
Regulation and trustworthiness
Both Coinstash and BTC Markets are based in Australia and registered with AUSTRAC to ensure they comply with Australian regulations designed to prevent money laundering and terrorism financing.
Both exchanges hold an Australian Financial Services Licence (AFSL) via partners. BTC Markets is also certified by the Australian Digital Commerce Association (ADCA).
The final verdict on BTC Markets vs Coinstash
Coinstash comes out ahead for beginners, especially those chasing trending altcoins before they’re available on most other major exchanges. BTC Markets is more likely to win over experienced traders, particularly with its support for multiple fiat currencies beyond AUD. BTC Markets also offers low fees on some transactions.
Remember, it’s important to consider your experience level and trading goals when choosing a trading platform.
FAQs
Which exchange is better for beginners?
Both exchanges are easy to use but Coinstash is a better choice for beginners.
Can I earn interest on crypto in either exchange?
Coinstash offers rewards points on loyalty balances, which can be redeemed for cryptocurrency or merchandise.
Which has more crypto assets, Coinstash or BTC Markets?
Coinstash supports more than 1000 coins, covering a wide range of altcoins, while BTC Markets which only supports around 40 of the major cryptocurrencies.
What are the main fees I should be aware of?
Trading fees are the main fees to be aware of when trading with BTC Markets and Coinstash, plus BTC Markets charges deposit fees when the fees come from a debit or credit card.
Are both exchanges regulated in Australia?
Yes, both Coinstash and BTC Markets are AUSTRAC registered, to ensure they comply with Australian regulations designed to prevent money laundering and terrorism financing.
Does either exchange support SMSFs or advanced tools?
Both Coinstash and BTC Markets support SMSFs and other advanced tools like an OTC desk for larger trades and APIs for trading using third-party tools.
Can I use both exchanges at the same time?
Yes, you can use BTC Markets and Coinstash at the same time.
