Fantastic. You’ve made the decision to get started with crypto.

The information found this page will help you get started and guide you to setting up various accounts so that you can begin your journey.

Before we get started, you will need access to one of the following:

  • PC or Laptop
  • Smart Phone (Android or Apple)
  • Tablet with a good quality Camera

You will also require the following ID for KYC purposes:

  • Drivers License
  • Government Issued ID
  • Medicare or similar
  • Passport

And finally, your Credit Card and Bank details to make your first deposits.

1. Register an Account with Coinspot

Before we begin, it’s important to know what is Coinspot?

Coinspot allows you to make purchases, trade and store crypto with ease. It is one of Australia’s leading Exchanges.

CoinSpot is so easy to use and it’s perfect for beginners who want to get into crypto market. Buying and selling is easy. You can also swap your coins for other cryptocurrencies making is easy to add or change your portfolio. It’s a fantastic platform.

  1. Go to the CoinSpot website (https://www.coinspot.com.au/).
  2. Click on the “Sign Up” button located in the upper-right corner of the page.
  3. Fill out the required information on the registration form, including your full name, email address, and password.
  4. Read and agree to the terms and conditions.
  5. Verify your email address by clicking on the confirmation link sent to your email.
  6. Login to your CoinSpot account using your email address and password.
  7. Complete the verification process by providing your personal details and proof of identity.
  8. Set up 2-factor authentication for added security. You can download Google Authenticator from Google Play or your Apple Store. More info is available in Step 2 of this guide.
  9. Add funds to your CoinSpot account and start trading.

Youtube has many Tutorials showing the step by step guide to Registration on CoinSpot, but here is a comprehensive video to guide you through this process: https://www.youtube.com/watch?v=15m9uJHnysI

2. Download and Enable 2FA on your Coinspot Account

This is highly recommended as it will protect you from anyone wanting to hack your Account or steal your crypto.

Resources:

https://coinspot.zendesk.com/hc/en-us/articles/360000120996-How-to-set-up-2FA

https://coinspot.zendesk.com/hc/en-us/articles/4457359977615-CoinSpot-Mobile-App-How-to-set-up-2FA

“At CoinSpot we offer users the ability to enable 2FA to strengthen the security of their CoinSpot account, beyond the traditional email and password access. Through the use of an authenticator app, this generates unique codes every 30 seconds which only arrive into their registered device.

Although App Based 2FA is not a requirement for users, it is highly recommended that App Based 2FA is enabled on users CoinSpot account at all times.”

Please read the step by step guide and follow the steps carefully

Setting up Two Factor Authentication (2FA)

  1. Download Google Authenticator from the App Store or Google Play Store.
    There are alternative Two-Factor Authentication Apps that will also work, however, Google Authenticator is the authenticator app of choice we use and recommend to our clients.
  2. Select My Account Menu(1) > Security(2).
  3. Select Two-Factor Authentication (2FA)(1) > Enable Two Factor Authentication(2).
    Please note – If your App Based 2FA is enabled but not working correctly, please disable your two-factor authentication and re-enable it to correctly set up your 2FA. Information on how to Reset your 2FA.
  4. After pressing on ‘Enable Two Factor Authentication’ you will now see a QR code and *Secret code.
    *Secret code is displayed only once, you can save the Secret code somewhere safe to restore your 2FA in the event you have lost your 2FA.
  5. Open the Google Authenticator App > Tap on ‘+ Icon’ > *Select Scan a QR code or Enter a Setup Key.
    *Follow below Option 1 or Option 2 depending on how you are setting 2FA up.Option 1 – Scan a QR Code – (For users setting up 2FA via Internet Web Browser on PC/Laptop)
    When scanning the QR code, tap on ‘Scan a QR code’ and align your mobile phone camera over the QR Code displayed on the CoinSpot Security page. Proceed to Step 6 after this has been completed.Option 2 – Enter a Setup Key – (For users setting up 2FA via the Mobile Web Browser/CoinSpot App)
    If you are logged into CoinSpot via the same mobile device as the one you are trying to set up 2FA with, select ‘Enter a setup key’.
    Account Name, you can name this as CoinSpot and your CoinSpot email address for ease of locating. Example, sample@gmail.com – CoinSpot.
    Setup Key (Secret Code), shown above the QR code on the CoinSpot Security page into your Google Authenticator App. Proceed to Step 6 after this has been completed.
  6. ​​​​​​​​​​​​​​​​​​​​​Once you have successfully added your CoinSpot 2FA to Google Authenticator, the below will be displayed.
  7. Head on back to the CoinSpot Security Page > Enter your 6 digit token from your Google Authenticator App to finalise the setup > Then select Submit
    Please Note – After 30 seconds, the token will refresh to a new token. Make sure you enter the token before the timer runs out on your Google Authenticator App. The timer will be displayed as a blue circle which will be lapsing. If you are receiving a Wrong Token message when setting up 2FA, please ensure you are not in incognito mode or read our 2FA token not working article.
  8. Congratulations you have successfully enabled 2FA on your CoinSpot account!