What is Cointree?
In this article, we explore the Cointree review into one of Australia simple online cryptocurrency exchanges. Founded in Melbourne Australia, Cointree supports over 160 different digital coins with a member base now exceeding 80,000 members. Firstly, one of the advantages is that Cointree can offer a range of digital currencies. Secondly, this is not a surprise given the exchange has been active in the cryptocurrency market since 2013. Thirdly, the exchange targets both beginning investors and high net worth individuals seeking their next cryptocurrency investment. However, if you would like some information on cryptocurrency have a read of how to invest in cryptocurrency in 2021.
I have summarised a list of pros and cons to investing in the Cointree review below:
Pros
- No trading experience required
- Register an account within 5 minutes
- Instantly deposit funds into your account with PayID
- Free to registering an account
- Educational resources to help you learn about cryptocurrency
Cons
- 0.5% – 0.9% fees on transactions depending on account tier
- Minimum AU$20 purchase limit
- Limit of AU$10,000 per day and AU$20,000 per week
- No mobile app available
One of the greatest concerns with investors is security. Therefore, Cointree combats this with bank-level encryption security. Moreover, there is a requirement for Two-step digital verification when withdrawing funds from the exchange. Furthermore, the platform also uses a secure serve ad closed network environments for data protection. As a result, this is industry best practice giving investors comfort that their investments are secure within the digital exchange.
Cointree Partners
In this paragraph, we review some of the main partners of Cointree. Firstly one of the main Cointree is partners includes Blockchain Australia. This is a partnership that offers an industry network for businesses implementing blockchain solutions. Secondly, these partners engage with government regulators, stakeholders and share best practice techniques for blockchain technology. Thirdly Blockchain Centre supports blockchain and the digital currency community. Moreover, the Learning Hub Centre provides educational resources for investors wanting to learn more about cryptocurrency. Coinstop offers cold wallet storage to keep digital currencies safe and secure. The main advantage of offline storage is that it reduces the risk of your private key being hacked on a computer or smartphone device. Moreover, for access to more in-depth (paid) cryptocurrency resources, head to the Blockchain Council website.
What are some of the new features?
One of the new features that Cointree is exploring is paying bills with cryptocurrency. The app has partners with Gobbill to allow members to pay their bills with cryptocurrency via BPA. Gobbill allows payments for utilities, telecommunications, rates amongst others. The vendor isn’t required to accept cryptocurrency as you are given the payment options flexibility through Gobbill. Any altcoins that are supported by Cointree can be used to pay bills. The exchange rate will be the best market rate at the time of the transaction. The bill transactions can be completed on the same day with the bills be paid within 3-4 business days. I note that ID verification is required on the account before this feature can be used.
Cointree Sign Up
To get started investing in cryptocurrency, follow the Cointree Tutorial for a step by step guide to signing up with Cointree. I have included a link to the Cointree sign-up page. For disclosure, I would receive a small commission for the referral. The BPAY option to pay bills with cryptocurrency is a point of difference for those wanting to streamline their payments. Once you have signed up there is the option to buy cryptocurrency with a minimum trade of $25. However, given that there is a small transaction fee I choose to invest more in lump sums than dollar-cost averaging the investment.
Cointree Summary
The Cointree cryptocurrency exchange has been designed to make it easier and more accessible for Australians to invest in cryptocurrency. For instance, there is the option to trade coin to coin and you can buy over 160 different digital currencies. Furthermore, having the option to pay bills via BPAY is a differentiating feature from other exchanges. However, there are fees associated with the PayID function and charge a 0.9% fee for buying and selling coins. If you would like to compare the features of Cointree to another crypto exchange have a read of the Binance or Coinspot Review.
