Australians are spoilt for choice with a wide selection of established and upcoming exchanges to choose from. Before committing, several considerations should be made including fees, reputability, security, trading pairs, and features to maximize trading.
One of the up-and-coming crypto exchanges in Australia is Cointree which has established itself as a reputable Australian-based crypto exchange. The platform allows you to easily buy Bitcoin and 280+ other cryptocurrencies with AUD.
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|Core Services||Fiat-to-crypto, crypto-to-crypto trading, SMSF|
|Payment Options||PayID, POLi, bank transfer|
|Trading Fees||0.5% – 0.9%|
What Is Cointree?
Cointree is a well-established cryptocurrency exchange based in Melbourne, Australia that has been operating since 2013. The Australian crypto platform endeavors to make the world of crypto safe and accessible for everyday Australians. Overall, the platform provides a simple, safe, and fast way to buy and sell over 280+ cryptocurrencies direct with AUD and is a good place for newcomers to begin their crypto journey.
- Extremely simple user interface
- Any coin-to-coin trading (over 15,000 trading pairs)
- OTC and SMSF investing offered
- Low crypto-to-crypto trading fees for amounts greater than $10,000
- Recurring buys
- Advanced TradingView charting
Top Cointree Features You Should Know
Cointree has gone to great lengths to make the world of cryptocurrency as simple and accessible as possible. While their platform has several areas that could be improved, simplicity is one of the boxes that they tick. An uncluttered design combined with a beginner-friendly learning hub makes Cointree a great place for beginners to buy and sell cryptocurrency without feeling overwhelmed.
Cointree has put a clear emphasis on crypto newcomers, offering a demo version where you can simulate the experience of trading cryptocurrency before signing up for the full version and using real money. There are plenty of tooltips that clarify complex crypto terminology. You can also visit the learning hub which is stocked with beginner-level articles to help you learn the basics.
Flexibility & Control When Buying Crypto
Cointree provides several crypto purchasing mechanisms to give you more control and flexibility in your trades. These include recurring purchases, price alerts, and Auto Trade which automatically buys or sells an asset on your behalf. Overall, the suite of trading features offered by Cointree is indicative of a crypto platform that knows the Aussie market.
- Recurring Purchases: otherwise known as Dollar-Cost-Averaging (DCA). DCA involves the investment of small amounts of AUD over a period of time instead of being used in a single transaction. This means that you don't need to ‘time the market’. It is also a common risk mitigation tool against market volatility and short-term fluctuations in asset prices.
- Price Alerts: Set the price of a selected digital currency to notify you when that price is exceeded or not.
- Auto Buys: Enter your desired buy or sell price. When the market price achieves your price then the trade will execute automatically.
Pay Australian Bills with Crypto
Cointree has partnered with Gobbill, an Australian-based financial services company, to offer you the ability to pay your bills with crypto. You can now pay any Australian bill or credit card that has the BPAY biller code with Bitcoin.
Paying your Australian bill can be done in the following steps:
- Click the ‘Pay Bill’ tab on the Buy / Sell / Trade page.
- Enter the BPAY biller code, reference number, and the bill amount.
- Choose the crypto you wish to pay with.
- Review the details and confirm the payment transaction.
One of the benefits of this process is that crypto-AUD conversion fees can be avoided.
Access To Top Performing Portfolios
Cointree gives you access to the top-performing cryptocurrency portfolios that have returned high yields over the last 7 days. The feature is quite similar to eToro's social copy-trading feature, however, it is not as developed. Having said that, this feature is relatively unique in the Australian market and it could be a unique selling point if you are looking to take advantage of successful short-term market movements.
Cointree allows you to search for portfolios with specific coins that have been performing particularly well in recent times. These portfolios can be purchased, however on verified accounts only. The layout of portfolio information is presented in a simple and aesthetically pleasing manner.
Cointree supports Australian investors wanting to use their Self-Managed Super Fund (SMSF) to buy cryptocurrencies. A letter of authority is needed to set up an SMSF account. You will also have access to a dedicated account manager, deep global liquidity, and investment advice.
Want To Know More? Cryptocurrency SMSF In Australia: A 2022 Guide
Is Cointree A Secure Exchange?
Cointree has not reported any security breaches resulting in loss, theft, or damage of stored assets since its inception in 2013. The exchange is safe and secure to buy, sell and trade cryptocurrency in the comfort that they have processed over AUD $250 million dollars without any security breaches.
Cointree implements all the industry-standard security measures that are expected of an AUSTRAC registered digital asset exchange. These include but are not limited to cold/hot asset storage, 2FA verification, encrypted SSL, hashed and salted passwords, separation of user details between database and codebase, and closed network environments.
Are Cointree Fees Competitive?
Deposit & Withdrawal Fees
Cointree charges zero fees for making deposits with AUD or crypto. However, you need to be aware that third-party fees may be payable for your deposit, depending on the method (e.g. online banking, POLi, PayID).
Cointree does not charge any fees for withdrawals of AUD from their Cointree wallet to a bank account. Cryptocurrency withdrawals to another wallet (e.g. Trezor or Nano ledger) usually have a standard transaction (mining) fee. This fee is dynamic based on network conditions of the respective Blockchain and will be listed on the cost breakdown found on the withdrawal coin page.
Cointree trading fees are based on a tiered structure where larger trading volumes attract lower fees. Depending on the transaction amount, fees for buying or selling crypto may range between 0.5% and 0.9%. The entry-level fee of 0.9% for amounts less than AUD$10,000 is not ideal for traders looking to buy small amounts of crypto. This will likely pose a barrier to entry if you want value for money, especially over the long term.
|Tier||Buy / Sell Coin||Coin-to-Coin Trades||Trade Volume|
Although coin-to-coin trading fees are very low, it is worth noting that the spread on Cointree’s exchange between the bid and ask is quite high compared to other cryptocurrency exchanges. Spreads are the difference between the buy and sell price and the hidden costs that not all traders are aware of.
It is crucial to check both the trading fees and the spread when evaluating a crypto exchange. The difference between buy and sell prices can mean you may not be able to sell back crypto at the same price you bought it, even if it is just a moment after purchase. These extra costs will add up over time.
Cointree only supports investors and traders in Australia and New Zealand to buy, sell and trade cryptocurrencies. If you're located in other parts of the world then you will need to find a local exchange that is registered and licensed to provide crypto services.
Getting Started With Cointree
The creation of a Cointree account takes under 5 minutes to complete and requires an email, password, and mobile phone number. Once you've created your account, you can log in and explore the features of the exchange, deposit fiat currency and start trading.
ID Verification & Limits
All Cointree users are required to verify their accounts. Creating a basic account (level 0) with the cryptocurrency exchange allows the individual to explore the platform’s features, however, they will not be able to perform any actions such as depositing funds or using the buy/sell platform.
The full identity verification process can take up to 1-2 business days, which is not the fastest verification process and not ideal for those looking to sign up and buy cryptocurrency within a day.
|0||Email address only||Explore platform with limited functionality|
|1||Proof of identity||Buy, transfer and pay with crypto|
|2||Bank account verification||As per level 1, plus sell BTC back into AUD directly to a local bank account|
Cointree provides numerous methods for consumers in Australia to deposit funds into the exchange, including PayID (instant and free), POLi, bank transfer, and cash deposit. Making a deposit is super simple and can be done through the wallet section of the website.
|PayID||Instant||Supported by most Australian banks and institutions.|
|POLi||Instant||An instant payment method available via Australian banks|
|Bank transfer||1 – 2 business days||Timing is dependent on the bank.|
|Cash Deposits||Instant||Cointree has partnered with Blueshyft to provide Australians with 1,300+ retailer locations where AUD can be directly deposited into the wallet.|
Ease Of Use
Buying Crypto Process
The platform in its simplicity and the cryptocurrency buying process is streamlined and quick. All you need to do is find the asset, enter in the amount you want to buy (or AUD to spend) and confirm the transaction.
Whilst the majority of Aussie crypto platforms outline their trading fees to buy and sell cryptocurrencies, not all state the fees for individual transactions. Cointree is transparent with the fees it charges on every trade, stating it upfront as you make your final payment. After the purchase is made, the purchased cryptocurrency is directly deposited into your Cointree wallet.
Cointree has recently integrated the powerful TradingView charting package into its trading interface. The package comes complete with the full suite of advanced indicators and drawing tools so you can aptly analyze the price action of a digital asset.
The charting window is smaller in size and more compact compared to serious crypto trading exchanges such as FTX and KuCoin. However, this is intentional as Cointree does not market itself as an advanced trading platform.
The addition of TradingView charting gives Cointree an advantage over its competitors who offer simple price over time graphs. There are also no order books to confuse you, however, this means you will be unable to assess the trading volume or spread for a particular trading pair.
Overall, Cointree's trading interface is perfectly suited for beginner and intermediate crypto traders. With the lack of confusing order books and the inclusion of the charting and buying window, the interface strikes a nice balance between getting too complicated and providing you with the tools to execute sound trades.
Customer Support & Reviews
Cointree’s website provides a comprehensive Help and Support section to assist you with questions about a range of topics including but not limited to account verification and security, depositing withdrawal of funds and assets, trading issues, SMSF, and the affiliate program.
Based on 288 reviews, Cointree scores a rating of 3.1 on Trust Pilot, with a variety of reviews shedding light on how their trading experience with Cointree went. While some customers were satisfied, there are a concerning number of reviews that allude to problems from verification, deposits, withdrawals, and contacting customer support.
Cointree does not currently have a mobile app that is suitable for iOS or Android devices. However, the website has been optimized for mobile devices. Their newly improved mobile-optimized website offers new menu navigation, better layouts, and an improved user experience.
The following crypto exchanges offer similar products and services compared to Cointree.
- Swyftx (best overall Australian exchange) - Swyftx is our best-rated cryptocurrency exchange that is available for Australian investors and traders. The platform has a wide variety of features including a well-designed user interface, deep liquidity, low spreads, DCA, and advanced trading tools. The platform also supports more than 312 digital assets which is slightly more than Cointree. For more information, you can read our Swyftx versus Cointree review.
- Digital Surge (best Australian exchange for beginners) - Digital Surge is a beginner-friendly platform with low trading fees (0.5%), more digital assets are supported (300+), and it provides a few innovative features including in-built tax tools and the ability to pay Australian bills with Bitcoin.
- CoinSpot (most trusted exchange) - Coinspot has been offering a highly secure platform for Australian investors to buy and trade crypto for a long period. This has resulted in Coinspot earning the reputation of Australia’s most trusted cryptocurrency exchange.
Frequently Asked Questions
Do I Need A Crypto Wallet With Cointree?
Cointree provides you with a free crypto wallet upon signing up. All coins purchased will automatically be sent to this wallet. If you need help setting up an alternative crypto wallet, Cointree can also help with this.
Is There An Affiliate Program?
Cointree has one of the best affiliate programs around. It rewards you with between 30-70% of the commissions on each trade made by new members that sign up using a unique referral link. The commission rate is based on a tiered structure where referring more users will return a better commission rate. In comparison, Swyftx and Digital Surge offer affiliate commissions of 50% and 30%, respectively.
Does Cointree Offer A Demo Account?
Cointree offers a handy demo version of their platform so new traders can get used to trading cryptocurrencies without using real money. This means you can explore the platform and trade using virtual funds with zero risk.
Can You Buy Crypto Using SMSF?
Cointree supports Australian investors that decide to use their Super Fund (SMSF) to buy cryptocurrency. The process is laid out very simply and all users will need to complete a letter of authority to set up their SMSF account.
Cointree is a solid starting point for beginner and intermediate Australian investors. While their fees are a little on the high side, especially if you’re trading for less than $10k, they have gone to great lengths to simplify the process of buying, selling, and trading crypto. The user interface is clean and uncluttered and makes the world of cryptocurrency a lot less daunting for new traders.
The type and nature of Cointree's products and services make it clear that the platform is keenly aware of the needs of the Australian crypto market. The regular release of innovative features is a common theme of the stronger exchanges in the market and this should be a factor in your decision-making.
Overall, Cointree is a reliable and simple way to trade cryptocurrency in Australia. However, with other Australian exchanges offering lower trading fees and more comprehensive charting packages, many Australians may want to shop around more before committing. Cointree could be improved in the future by adding a mobile app.