AUSTRAC Registered This exchange is registered with AUSTRAC. Digital currency exchange providers in Australia are required to be registered with AUSTRAC. This ensures they must comply with relevant AML and CTF laws or risk facing heavy penalties. You can read more about this on AUSTRAC's website. This registration should not be viewed as an official endorsement or guarantee of services.
Pros
Cons
Quick Summary
| Headquarters Location | Melbourne, Australia |
|---|---|
| Fiat Currencies Supported | USD, AUD, GBP, EUR |
| Total Supported Cryptocurrencies | 68+ |
| Trading Fees | 0.02% - 0.10% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Osko, PayID, Apple Pay, Google Pay, Faster Payments, Blueshyft, Google Pay, Apple Pay, EML |
| Support | Facebook, Twitter, Instagram, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Imagine a platform where the complex world of cryptocurrency is distilled into an intuitive and robust experience. CoinJar, an Australian cryptocurrency exchange, is a testament to this vision since its inception in 2013.
CoinJar demonstrates a commitment to accessibility and ease of use for every Coinjar account holder, including those using a Coinjar wallet. You can easily trade from their vast array of supported cryptocurrencies.
Security, often the linchpin of trust in the digital exchange realm, is not taken lightly at CoinJar. With a robust suite of measures, including encryption and machine learning algorithms, the platform ensures that most funds are safely ensconced in offline wallets. CoinJar’s reputation is also bolstered by its registrations with financial authorities in Australia and the UK, reflecting its compliance and reliability.
About CoinJar
CoinJar has etched its name as Australia’s longest-running cryptocurrency exchange, a feat that speaks volumes about its resilience and adaptability in a rapidly evolving industry. Asher Tan and Ryan Zhou founded the exchange, and their expertise has given CoinJar a reputation for being a user-friendly, secure choice for cryptocurrency investing since 2013.
With a target audience that spans both Australian and UK markets, CoinJar is sculpted to ease new users into the fold of cryptocurrency trading while still providing advanced features for the connoisseurs of the crypto realm.
The CoinJar platform offers the following features:
- Mobile applications that allow users to fund their bank account via card or bank transfer while adhering to Australian transaction report requirements
- The CoinJar Card, which acts as a bridge between virtual and real currency, allows users to spend their cryptocurrency holdings with the same ease as fiat currency
- Free AUD deposits
- A straightforward fee structure for card purchases
The culture within CoinJar is one of perpetual learning and refinement, aiming to integrate cryptocurrencies into everyday life and demystify the process of investing for its clientele. This approach has resonated with global users and has led CoinJar to accolades, such as being named the Digital Currency Exchange of the Year at the 2023 Blockies Awards.
CoinJar’s commitment to providing a multi-coin wallet, robust support, and offerings like CoinJar Bundles distinguish it in the cryptocurrency exchange landscape.
CoinJar has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn and YouTube.
CoinJar has a mobile app on both the Apple App Store and Google Play.
CoinJar Supported Cryptocurrencies
CoinJar supports trading on over 68 cryptocurrencies on their platform. This exchange currently supports 18 of the top 30 market cap cryptocurrencies.
View all cryptocurrencies CoinJar supports
- 1INCH
- AAVE
- ADA
- ALGO
- AMP
- APE
- AUDIO
- AVAX
- AXS
- BADGER
- BAL
- BAND
- BAT
- BICO
- BNT
- BTC
- CHZ
- COMP
- CRV
- CTSI
- DAI
- DOGE
- DOT
- ENJ
- ENS
- EOS
- ETC
- ETH
- FET
- FTM
- GALA
- GRT
- IMX
- INJ
- KNC
- LDO
- LINK
- LRC
- LTC
- MANA
- MATIC
- MKR
- OGN
- OMG
- OXT
- PAXG
- PEPE
- QNT
- RNDR
- RPL
- SAND
- SHIB
- SNX
- SOL
- SUI
- SUSHI
- TRX
- UMA
- UNI
- USDC
- USDP
- USDT
- WBTC
- XLM
- XRP
- XTZ
- YFI
- ZRX
CoinJar’s variety of digital assets provides a colourful palette for cryptocurrency connoisseurs and novice investors. The platform’s embrace of digital currencies signals its commitment to expanding trading possibilities. However, compared to its competitors, it does have limited cryptocurrencies available.
With an eye on the horizon, CoinJar continually adds new cryptocurrencies, bolstering its stance as a top Australian crypto exchange and fostering an environment ripe for cryptocurrency investing.
Trading Experience
Venturing into the realm of CoinJar’s trading experience is akin to discovering a hidden garden of features tailored for both the uninitiated and the veteran trader. CoinJar Bundles, for instance, are a beacon for those seeking to diversify their portfolios without the complexity often associated with investment choices.
These theme-based baskets of cryptocurrencies offer a spectrum of options—from the foundational Bitcoin Bundle to the avant-garde DeFi Bundle, allowing users to track performance and quickly rebalance their holdings.
The recurring buy feature on CoinJar further smoothes the investment journey, a strategic tool for those keen on dollar cost averaging. Set up with a few taps, users can automate their purchases to coincide with their financial rhythms, whether weekly, fortnightly, or monthly, thus cultivating an investment habit that rides out market volatility.
Trading on CoinJar is a streamlined process. Here’s how it works:
- After account verification, selecting a Bundle within the app is easy.
- Deposit funds by simply adding them with just a click.
- Selling is equally straightforward. Users can cash out for multiple fiat currencies or transfer funds directly to their wallets.
CoinJar Fees
Navigating CoinJar’s finances reveals a transparent and competitive fee structure. With a 0.02% - 0.10% trading fee for a range of transactions, users can engage in trading activities without the burden of complex fee schedules.
This tiered approach to trading fees ensures that CoinJar provides a competitive and fair pricing model whether you deposit AUD to start trading or transfer funds between currencies. It’s an exchange platform that rewards commitment and volume with lower fees, thus appealing to experienced traders and those looking to scale their trading activities.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer - Osko, PayID) | 0% |
| Deposit Fee (Credit/Debit Card) | 2% |
| Trading Fee | 0.02% - 0.10% |
| Withdrawal Fee (Bank Transfer) | 0% |
CoinJar supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, they don't charge anything above the standard Bitcoin network fee. Across all the crypto exchanges we've reviewed, the average Bitcoin transaction fee charged is 0.000594 BTC compared to the actual network fee of 0.000473 BTC. This means you are saving 20.34% on Bitcoin transactions by using CoinJar instead of other exchanges.
CoinJar has a maker/taker fee schedule which you can see below.
| AUD, USD, EUR & GBP Trading Pairs (30-Day Trading Volume) | Taker Fee (incl. GST) | Maker/Auction Fee (incl. GST) |
|---|---|---|
| $10 – $100,000 | 0.10% | 0.10% |
| $100,000 – $1m | 0.10% | 0.08% |
| $1m – $10m | 0.08% | 0.04% |
| $10m+ | 0.06% | 0.02% |
Security - Is CoinJar Safe?
Amidst the digital expanse, security stands as the sentinel at the gates of CoinJar, guarding the sanctity of user funds and personal data. Through a combination of multi-sig and biometric-enabled wallets and two-factor authentication, the platform fortifies its defences against unauthorized access. Integrating machine learning algorithms further enhances this protective layer, proactively identifying and mitigating suspicious activities.
CoinJar’s commitment extends to the bedrock of its infrastructure. Heavily encrypted and isolated networks form the fortress where user data and funds are safeguarded. Using Amazon Web Services for stringent access control and institutional-grade encryption, CoinJar instils confidence in its users that their investments are secure.
The platform’s security is comprehensive, encompassing rigorous background checks on employees, regular security training, and a meticulous verification process for transfers to cold wallets. These measures and a strong recommendation for users to employ complex passwords via password managers ensure that operational standards are upheld and assets are fully protected.
CoinJar Customer Support
The human touch remains a core component of CoinJar’s service, and CoinJar’s commitment to its customers can be seen in the glowing reviews on Trustpilot. Users have lauded the support team for their understanding approach, proving that empathy is as crucial as efficiently resolving queries and concerns.
CoinJar’s customer service efficiently navigates delayed transactions and account security issues. The platform’s team is commendable in its timely and friendly resolution of challenges, which is a testament to its dedicated user-friendly interface and positive rapport with its users.
Yet, Coinjar is not without hurdles; some users have encountered difficulties with withdrawals and two-step verification, reminding us that even the most refined systems have room to grow.
CoinJar also maintains a real-time Status page to enhance transparency. This page informs users about wallet services’ operational status, active incidents, and maintenance schedules. This proactive approach to communication supplements the support ticket system, ensuring that users are never left in the dark about the workings of their platform.
CoinJar Support Channels
CoinJar Card and Mobile App
The CoinJar Card, empowered by Mastercard, is a revolutionary tool that lets users spend their cryptocurrency with the same ease as using a CoinJar Swipe. As the first among Australian brokers, this feature integrates with Apple Pay and Google Pay, dissolving the barriers between digital assets and everyday transactions. The rewards program further sweetens the deal, with each dollar spent earning users loyalty points to offset future fees.
The CoinJar Card is activated instantly via the app, enabling users to select their preferred cryptocurrency for spending and manage their card details with a few taps. With its prepaid nature and absence of monthly fees, the CoinJar Card is a cost-effective means of bringing cryptocurrency into the physical world. It also comes with daily spending and ATM withdrawal limits to safeguard users’ finances.
The CoinJar app is a robust companion for on-the-go management and cryptocurrency trading. Available for both iOS and Android, the app provides a comprehensive platform for users to buy, sell, and oversee their digital assets. Even with slightly higher fees, the app’s utility remains competitive, ensuring that CoinJar users have a powerful tool at their fingertips.
How to Sign Up on CoinJar
- Create Account - Visit the CoinJar website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
CoinJar Alternatives
Swyftx
Total Supported Cryptocurrencies
350+
Trading Fees
0.1% - 0.60%
Fiat Currencies Supported
USD, AUD, NZD
CoinSpot
Total Supported Cryptocurrencies
441+
Trading Fees
0.10% - 1%
Fiat Currencies Supported
AUD
Binance
Total Supported Cryptocurrencies
386+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Final Thoughts
With its user-friendly platform, CoinJar accommodates the needs of both beginners and seasoned traders alike. The innovative CoinJar Card and mobile app bridge the gap between the digital and physical world, while the structured fee system and robust security measures provide a stable backdrop for financial exploration.
In the grand landscape of cryptocurrency exchanges, CoinJar stands out with its commitment to ease of use, diverse trading options, and a support team that embodies understanding and promptness. These facets coalesce into a platform that keeps pace with and shapes the dynamic world of cryptocurrency.
If you are curious about comparing CoinJar to other cryptocurrency exchanges, check out our article comparing CoinJar vs CoinSpot.
CoinJar FAQs
CoinJar, as a cryptocurrency exchange platform, implements a range of security measures aimed at protecting user funds and information. These typically include encryption, two-factor authentication, and adherence to local financial regulations.
Like any online service, ensuring the safety of your account also depends on following good personal security practices, such as using strong, unique passwords and being cautious of phishing attempts.
CoinJar, being an Australian-based cryptocurrency exchange, complies with local laws and regulations, which include cooperating with the Australian Taxation Office (ATO) when required. This means that CoinJar may report certain transaction information to the ATO to ensure compliance with tax laws.
Withdrawing funds from CoinJar is typically a straightforward process. Users can transfer their cryptocurrency to an external wallet or their fiat currency to a linked bank account through the platform’s user interface, which is designed to be user-friendly and accessible.
CoinJar primarily facilitates the digital transfer of currencies, so withdrawing cash directly from CoinJar is not the standard process. However, after withdrawing your funds to a linked bank account, you can then access your money via your bank’s cash withdrawal facilities.
CoinJar is a legal cryptocurrency exchange in Australia. It operates in compliance with Australian financial laws and regulations, and it is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), which oversees anti-money laundering and counter-terrorism financing.
The time it takes to withdraw funds from CoinJar to a bank account can vary depending on several factors such as the type of currency, the time of the request, and the processing times of the banks involved. Typically, fiat currency withdrawals can take from one to three business days.
CoinJar operates in Australia by providing a platform for users to buy, sell, and manage their cryptocurrency portfolios. They adhere to local financial regulations and offer services tailored to Australian residents, such as BPAY deposits and support for Australian dollars, alongside their cryptocurrency offerings.
To withdraw money from CoinJar to a bank account, you first need to ensure that your bank account is linked to your CoinJar account. Then, navigate to the withdrawal section of the platform, select the amount you wish to transfer, and choose your bank account as the destination for the funds.
Follow the instructions provided to complete the withdrawal process.
CoinJar User Reviews
0.0 out of 5.0
0 reviews
No reviews yet for CoinJar - be the first to review!
Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.
Check James out on:
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
Check Adam out on: