Coinspot NFT Marketplace summary
Coinspot users can buy Non-Fungible Tokens (NFTs) from 32 of the most popular NFT collections including Bored Ape Yacht Club, Vee Friends, World of Women and Trillionaire Thugs.
They charge a 0.9% purchase fee on all NFT purchases. This is on top of any gas fees that apply.
Users can buy NFTs using any of the 360+ cryptocurrencies listed on the Coinspot platform.
Launched in 2013, Coinspot is Australia’s largest crypto exchange. In April 2022, Coinspot launched an NFT marketplace, a feature not offered by any other Australian exchange.
This feature allows Coinspot users to buy NFTs from a number of popular collections. We’ve reviewed Coinspot’s NFT marketplace covering the following details:
- NFT’s available
- How to buy NFT’s through Coinspot
- Marketplace fees
- Pros and Cons
- Frequently asked questions
Coinspot NFT marketplace: Pros and Cons
- Popular NFT collections available
- Purchase NFTs with 360+ cryptocurrencies
- Simple account creation
- Low fees compared to other marketplaces
- Cannot create or mint your own NFTs
- Limited NFT collections available
- Cannot purchase NFTs with AUD
NFTs available on Coinspot
Currently, Coinspot has 32 available NFT collections to buy from. A collection consists of several digital assets created by the same artist (or groups of artists). Popular NFT projects such as Bored Ape Yacht Club, Vee friends and World of Women are all available through Coinspot’s marketplace.
Bored Ape Yacht Club (BAYC)
The most popular NFT collection to date is the Bored Ape yacht Club NFT project which consists of 10,000 unique NFTs. Each NFT is a cartoon ape, each featuring different facial expressions, fur colours and attributes. This collection of NFT has become so popular that several have sold for over $1 million each.
World of Women
The World of Women collection consists of 10,000 NFTs featuring numerous women of different backgrounds. Several World of Women NFTs have sold for over $10,000 AUD.
Vee Friends is a popular NFT collection created by Gary Vaynerchuk, more commonly known as Gary Vee. Vaynerchuk drew all the characters himself. Holders of these NFTs get access to Veecon, a multi-day convention focused on business and marketing.
Coinspot NFT marketplace fees
You will incur a small fee when you purchase NFTs via Coinspot’s marketplace.
- 0.9% fee
- Network mining fees (gas fees) apply
These fees compare quite well to OpenSea, the biggest NFT marketplace in the world. OpenSea charges a 2.5% fee per trade – more than double Coinspot’s fees.
Keep in mind, that Coinspot also charges a 1% fee for purchasing cryptocurrency, so you’ll likely be charged twice when buying NFTs through its marketplace. For a comprehensive breakdown of the Coinspot exchange, including its fee structure, visit our Coinspot review.
How to buys NFTs on Coinspot
Buying NFTs through Coinspot is quite simple, especially compared to other NFT marketplaces like Opensea and Rarible. Simply follow the steps outlined below:
Step 1: Sign up to Coinspot
If you haven’t already done so, you’ll need to sign up to Coinspot to buy NFTs in Australia. You’ll need to provide your full name, email address and phone number as well as verifying your identity.
Step 2: Deposit AUD to buy crypto
Once your account is verified, you’ll need to deposit funds via one of the following deposit methods: bank transfer, POli, PayID or credit/debit card. You can then buy any of the 360+ coins available on Coinspot which can be used to purchase NFTs. Despite most of the NFT prices being listed in ETH, no matter what coin you choose will be converted to pay for the digital asset.
Step 3: Choose an NFT to buy
Click the ‘NFT’ tab in the Coinspot trading platform to browse through the available NFT collections on the marketplace. Once you have chosen a collection you like, you can view the specific NFTs in that collection that are available for purchase.
Step 4: Purchase the NFT with the coin of your choice
Click the ‘Buy Now’ button on your chosen NFT and choose which cryptocurrency you’d like to purchase it with. You will be charged a small purchase fee on top of any associated gas fees. Once your order has been executed, it will be stored in your ‘NFT Wallet’ on the Coinspot app.
How to sell NFTs on Coinspot
Selling NFTs on Coinspot is just as simple as buying them. To sell an NFT, login to your Coinspot account. Go to ‘My Account’ and click ‘NFT Wallet.’ Here you’ll be presented with all the NFTs you hold in your Coinspot Wallet. Select which one you’d like to sell and hit the ‘+Listing’ button.
From here, you’ll need to fill out certain information like the listing price and the duration of the sale. Once you have confirmed your listing, it will become available for purchase on the Coinspot Marketplace.
Coinspot NFT bundle
Coinspot has an NFT bundle where you can purchase a basket of 10 cryptocurrencies that are all dedicated to supporting the adoption of NFTs. Included in this bundle are popular gaming tokens like MANA, SAND and AXS. We’ve listed all 10 assets that make up the Coinspot NFT bundle below:
- Decentraland (MANA)
- Sandbox (SAND)
- Axie Infinity (AXS)
- Apecoin (APE)
- Theta (THETA)
- Chiliz (CHZ)
- Enjin (ENJ)
- WAX (WAXP)
- Illuvium (ILV)
- Chromia (CHR)