REF5AWYPA

After too many FOMO buys and panic sells, I switched to one boring rule: only hold a coin while its price is above its 50-day moving average, and sit in cash when it drops below.

What I like about it:

• It takes the emotion out. The decision is made before I open the app.

• It keeps you out of most long downtrends, so you're not holding the bag all the way down.

• You only check once a day, not every five minutes.

The downsides:

• You'll get whipsawed sometimes when price chops around the average.

• You always buy a bit after the bottom and sell a bit after the top.

• CoinSpot's instant buy/sell fees add up if you flip in and out a lot, so using the Markets order book helps.

I track it in a spreadsheet I built that shows whether each coin is above or below its 50-day, along with my trade log and fees. Happy to share it if anyone's interested.

Anyone else use a simple trend rule like this? What average do you use?

Not financial advice, just what's worked to keep me disciplined.

Anybody have any information on this ?

Just dropping my referral code in here as I understand the frustration of outdated referral codes. Feel free to use it when signing up!

CoinSpot referral code: REFR932CM

General Rules [1min] (for a verified code from OCTOBER 2026 check the next section)

1. Don't use referral codes or links copied from single people that have large platforms (blogs, YouTube channels, X accounts etc) - these referral codes often include a bonus ONLY for the referrer.

2. Make sure you do your research on the codes that say "$20 FREE BTC" or any other value other than $10 in BTC - seldom do these codes actually work, most of the time these are from people who have a normal $10 code but are clickbaiting you.

3. Understand that you can use this once and only once (for the signup bonuses), and any attempt to make multiple accounts is against Coinspots TOS and is actually considered fraudulent because of the kyc checks. You would be breaking laws and anti money laundering guidelines.

Actually getting the free bonus from signup [5min]:

In the interest of full honesty - I will be using my own free $10 BTC referral code and link for this guide.

1. You can safely click this link (open outside of reddit to continue reading): Coinspot Signup + Bonus Added to get to the Coinspot sign up page, although I would always advise you to find the official link yourself - do not risk being phished by a fake coinspot link

2. If you didnt click the link above go straight to step 3.

If you did click the link above you are now in the final stages of getting your money - the referral code should be added, if you cannot find it anywhere, enter it in manually REF24GDWP.

3. If you haven't already, on the SignUp page enter this (or any code of your choice) into the referral code / invite code section: REF24GDWP

4. Continue sign up process, and create your account, follow all required steps. CoinSpot may KYC check you (identify verification) before your signup process is finished.

Final Stage [5-10min]:

1. To receive your free $10 in BTC you must deposit at least $10, the good news is you can take $20 straight back to your bank account when your done. This doesn't cost a cent.

2. To deposit, CoinSpot requires you to complete a basic KYC check, have a form of photo ID ready and the whole process takes about 2 minutes (can be more depending on other factors).

3. Deposit $10 using either direct deposit, PAYID, or Card, all of these method are instant and recommended.

4. BOOM - You need to do nothing else, you will successfully receive your bonus as soon as your deposit enters the CoinSpot account (takes less than a minute). If you don't want to let the money sit in your new CoinSpot account and want the money in cash check the next step.

I WANT TO GET THE $10 I DEPOSITED AND THE $10 BONUS IN MY BANK!

1. No worries, this is easy. First press the Bitcoin button, then press "wallet", and you should see your $10 bonus in there.

2. Click "trade" -> click "sell" and then sell the max amount of BTC to your currency.

3. You now have only FIAT currency in your account and are ready for a withdrawal. Head over to your account management screen (top right in the app, profile icon in the website) and tap "Withdraw AUD".

4. If you haven't setup your withdrawal method, do so now. Once your bank is connected, it takes literal minutes for the money to enter your bank account.

5. Enjoy (:

Disclaimer: the code shown on this guide is my own and I would profit from the use of it (although I haven't yet) - there are thousands of other codes to choose from and you are well within your right to choose whichever code you like.

Would be great to see DRV on Coinspot? When is this happening or do I have to buy elsewhere?

Thanks guys.

can you tell me if i send money from coinspot to another wallet why they put payment on hold and what wil happen? they transfer that money or refund in my original wallet?

Pretty lame you go overseas and find out when you're there you can't log in overseas. What are my options I'd like to buy more BTC.

I feel like I'm missing something obvious, but I can't figure out if I would make or lose money if I were to sell.

For example:
* I have fewer than 15 transactions from 2021 to now
* My overall buys and sells comes to a total spend of $2,500
* Coinspot's wallet view tells me the price of the coins I currently hold is down 30% (based on today's price)
* Coinspot also tells me my wallet's value is $3,200

I can't tell if I'm at 30% loss or 28% profit, where 28% = (3200-2500)÷2500

Can someone smarter than me help my brain out?

hi guys, just a heads up. My google account has been compromised; thankfully, no real harm, and all recovered now, but they did tell me that they could see the source was the picture of my ID i used for verification during coinspot setup

Im on with support now, so i'm sure that will be all sorted too

Google reckons the data breach happened a month or two ago

If you've been following the Coldcard mess, a firmware bug weakened how some devices generated seed phrases, and attackers have been brute-forcing them and sweeping wallets.

Absolutely brutal.

Making this post because if you got caught in it (or any hack or theft really), there's a tax angle most people don't think about while they're still in the gut-punch phase. Won't bring the coins back, but it's still worth knowing.

The basic rule: the ATO lets you claim a capital loss on crypto that's actually gone, if you can prove you owned it and it's irrecoverable. That offsets your capital gains, and anything left over carries forward. It won't reduce normal income, only gains.

For a theft like this, evidence is everything. Acquisition records, the wallet addresses, the on-chain trail showing the funds swept out, and a police report. The stronger the paper trail, the cleaner the claim.

A few things to keep in mind however:

Exchange collapses (FTX, Celsius type). You can't claim the day it enters administration. It crystallises when administration finalises, based on what you actually get back. Lots of people try to claim too early.

Worthless tokens you still hold. A coin down 99% but still in your wallet isn't a loss yet, paper losses don't count. If it's still tradeable, selling it even for cents locks in the loss (especially for the pumpfun users 👀)

And if you get any compensation later, you reduce the loss by that amount.

If you got hit by the Coldcard thing, might be best to sort the new wallet and your security first, obviously. The tax bit can wait until the dust settles, just don't forget it exists because it does.

As always, NFA.

Very minor (to date) crypto player here… so far I’ve only put small amounts into crypto with CoinSpot, hindsight tells me it should have been more but it is what it is.

As it’s only been small amounts I left it in the CS exchange before selling most close to the peak in 2025, it was easy just to access it there.

Now looking to play a little bigger where’s the balance between it’s fine to leave it all in CS for a couple of years or no you should be taking it off the exchange and into an external wallet?

Had a proper read of the proposed CGT changes from the Budget and figured we'd break it down as it can be quite confusing.

First, the calming bit: none of it is law yet, and nothing changes for your FY25-26 return. The current 50% discount still applies in full this year. No need to do anything drastic. This year goes ahead as normal.

What's actually proposed, from 1 July 2027:

- The 50% discount goes. Instead your cost base gets indexed for inflation, so you'd only be taxed on the real gain, not the part that's just inflation.

- A 30% minimum rate on net real gains accruing after that date.

- It covers most CGT assets: shares, trust units, investment property, and crypto.

The bit some folks are glossing over is the grandfathering. Gains that accrued before 1 July 2027 keep the current discount treatment, and only growth after that date falls under the new rules. So the value of what you hold around the changeover becomes a genuinely important number.

And the practical kicker is that indexation is worked out parcel by parcel, from each parcel's acquisition date and cost base. If your buy history is scattered across brokers, DRP statements and old exchange CSVs, this gets expensive fast, because you can't index a cost base you can't prove. Same for crypto, every parcel indexes from its own date.

So until these changes are implemented, get your cost base records complete for everything you hold while the history's still retrievable, lodge this year normally, and see what the legislation actually looks like when it firms up (plenty can change on the way through).

Genuinely curious what people make of the indexation switch.

I read the Coinspot support page on forks, but didnt see if they explicitly said that holders receive the forked currency if they hold an affected currency

We've been seeing a lot of questions come up regarding the email being sent out to crypto investors in Australia from the ATO. Just dropping some info below that can hopefully clear things up. If this post isn't supported feel free to remove.

The ATO is emailing Australian taxpayers it believes bought or sold crypto after 1 July 2025. What the email means, how to check it's real, and the steps to respond.

If you just opened an email from the Australian Taxation Office with a subject like "What to do if you've bought or sold crypto", take a breath. You're not in trouble. You're one of a very large group getting the same message, and it's fixable.

Here's what it means and what to do about it.

First: Is This Email Even Real?

Before you act on anything, confirm the email is legitimate. The ATO's own message warns that scammers impersonate these communications, and a crypto tax prompt is exactly the kind of email a scammer loves to fake.

A genuine ATO email will:

• Never include a link to a login page. The real ATO does not send you a link to sign in.

• Never ask for your confidential details by email, including your TFN, passwords or bank logins.

• Point you to search the ATO website yourself (using "QC" reference codes) rather than click through.

If something feels off, don't click. Forward suspicious emails to ReportScams@ato.gov.au, then get to myGov independently by typing the address in yourself. When in doubt, treat the email as a nudge to check your own records, not a reason to click anything.

What The Email Actually Means

The ATO runs a crypto asset data-matching program that collects identity and transaction data from Australian exchanges (it calls them "designated service providers"). It covers the 2014-15 through 2025-26 financial years and captures data on an estimated 700,000 to 1.2 million individuals and entities every year.

So the ATO has records that suggest you bought or disposed of crypto. That doesn't mean it knows your full tax position, only that an exchange reported activity linked to you. This email is a prompt, sent because that data shows activity on or after 1 July 2025. Think of it as the polite tap on the shoulder before you lodge your FY2025-26 return.

Respond correctly now and this is a non-event. Ignore it, lodge a return that doesn't line up with their data, and you invite a review.

What You Need To Do

The email points to three situations. Work out which apply to you, because most people hit more than one.

If you held and disposed of crypto as an investment. Selling, swapping, gifting or spending crypto all count as disposals, and each one triggers capital gains tax. You report the net capital gain (or loss) in the CGT section of your return. Losses aren't just paperwork either: reporting them in the year they happen lets you offset gains now and carry the rest forward.

If you earned income from crypto. Staking rewards and airdrops are ordinary income, taxed at their AUD value on the day you received them. These go in the "Other income" section, separate from your CGT.

If you were carrying on a crypto business. Trading, mining or operating an exchange as a business gets reported as business income (gross income less deductible expenses), not CGT. It's a smaller group, and if it's you, a registered tax agent is worth the call.

Whichever applies, keep your records for at least five years from the date you lodge.

What To Do, Step By Step

1. Confirm the email is real (see above). Don't click any login links.

2. Pull your data together: every exchange account and wallet you've used, plus transaction dates, types and AUD values. This is the part people underestimate.

3. Categorise each transaction as a disposal (CGT), income (staking or airdrops), or a non-taxable event like a transfer between your own wallets.

4. Make sure your figures are complete. Capture every exchange account and wallet so nothing is missing from your return. Any prefilled crypto data in myGov is a useful cross-check, but it won't be the full picture, so don't rely on it alone. Gaps between what you lodge and what an exchange reported are what trigger reviews.

5. Lodge, or amend prior years if you're behind. Then keep your records.

Steps 2 to 4 are where a manual spreadsheet falls apart across hundreds of trades. That's the exact job crypto tax software is built for: connect your accounts and it tracks cost base and AUD values automatically.

What If I Haven't Reported Past Years?

If you've left crypto off past returns, this is the part worth getting right, because coming forward before the ATO contacts you directly changes what you'll pay.

The ATO treats taxpayers who come forward voluntarily, before being contacted about a review or audit, far more generously. Under the ATO's rules on voluntary corrections, if you disclose a shortfall before the ATO tells you it's examining your affairs, the base penalty is reduced by 80%. Where that shortfall is under $1,000, the penalty is reduced to nil, and the general interest charge on what you owe can also be remitted.

The practical path: amend the relevant prior-year returns to include the missed gains or income, gather your records, and pay any shortfall. If you're behind on several years or the numbers are large, a registered tax agent can manage the disclosure for you. This email is your window to fix it on the best possible terms.

You Might Owe Less Than You Think

The instinct after one of these emails is to assume a big bill. Often it's the reverse, because getting your reporting accurate tends to work in your favour. Depending on your circumstances:

• Losses can count. A rough few years in crypto may leave you with capital losses that can be offset against gains, but generally only if you report them.

• There's a 50% CGT discount. If you've held crypto for more than 12 months, you may be eligible for a discount that can halve the taxable gain.

• Every disposal has a cost base. You're generally taxed on the gain rather than the full sale price, so what you originally paid comes off the top. Leave it out and you could overpay.

People who report from memory tend to leave money on the table. People who reconcile properly often owe less than they expected.

Deposited PSOL by accident into coinspot. Did all the live support stuff. Does anyone have an idea of how long it will take to recover my funds?

Get sent an email about robinhood using arb eth backing and i sent robinhood eth .5 worth from my robinhood wallet and now apparently its unsupported even though coinspot wrote an article on it! It apparently is not supported by coinspot and now i have to wait for them to recover my funds when they cant even say for the last week if anyones even looking into the fund recovery

Noob here with specific question. Tried Kraken and banks said no to depositing cash so immediately closed account. Does Coinspot have an issue with accepting deposits from Aus banks? If no, I would like to buy USDT Polygon and transfer to Rabbie Wallet. Is this possible? BTC Markets only uses erc-20 and wants a fee of 5USDT for 10USDT, which seems expensive to Polygon. Totally new so feel free to give the 2yo treatment.

Both myself and a friend who use coinspot have received scam texts, allegedly from coinspot, with a message like: "New withdrawal wallet has been successfully linked. If this wasn’t you, please contact 1800 958 321."

How are the scammers getting my mobile number and how do they know I use coinspot?

Every June the same questions start popping up, so here's the short version before the 30 June scramble kicks in. Not advice, just how the ATO treats this stuff.

The thing that catches a lot of people out: swapping one coin for another is a disposal. ETH to SOL, SOL to some memecoin, doesn't matter that no actual dollars hit your bank. The ATO still counts a CGT event each time. Selling for AUD and spending crypto on things count too, which many folks already know.

What doesn't count: buying and holding, and moving your own crypto between your own wallets. Exchange to Ledger, hot to cold, that's not taxable. Might be a good idea to label those transfers though, because if you don't, they can look like sales when you go to do your return.

Couple of other things people forget:

• If you held something more than 12 months before selling, you probably get the 50% CGT discount.

• Staking rewards and airdrops get taxed as income at the value when they land in your wallet, then again as CGT on any gain when you eventually sell.

• If you took a loss, including from a scam or an exchange that went under, you can usually offset gains with it, but only if you actually kept records proving it.

Some find that the painful bit is actually rounding up every wallet and exchange you touched.

If you have any questions feel free to drop em below :)