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CoinJar Review

Last Updated on May 3, 2024

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Written by
Adam Headshot
Edited by
CoinJar logo
4.29
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
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The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

CoinJar is Australia’s longest-running cryptocurrency exchange. The platform offers everything from an easy wallet interface to advanced trading capabilities, meeting many customer needs.

CoinJar is known as a reliable crypto exchange because it focuses on an enhanced trading experience, competitive fees, customer support, and security.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

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

  • User-friendly interface
  • Supports a variety of cryptocurrencies
  • Offers a mobile app for iOS and Android
  • Longest standing Australian exchange
  • Features a rewards program

Cons

  • Higher fees compared to competitors
  • Limited advanced trading features
  • Smaller range of cryptocurrencies
  • No live chat support
  • Limited information on security measures

Quick Summary

Headquarters Location Melbourne, Australia
Fiat Currencies Supported USD, AUD, GBP, EUR
Total Supported Cryptocurrencies 54+
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

CoinJar is an Australian cryptocurrency exchange that has been offering an intuitive and efficient trading experience since its inception in 2013. The platform balances simplicity for the beginner and depth for the experienced trader.

CoinJar homepage

The exchange demonstrates a commitment to accessibility and ease of use for every Coinjar account holder, including those using a Coinjar wallet. When you join this platform, you can easily trade from their vast array of supported cryptocurrencies.

Moreover, CoinJar does not take security lightly. With a powerful system of safety measures, including encryption and machine learning algorithms, the platform ensures that most funds are safely stored 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 is Australia’s longest-running cryptocurrency exchange, a feat that speaks volumes about its resilience and adaptability in the crypto industry. Asher Tan and Ryan Zhou founded the exchange, and their expertise has given CoinJar a reputation for being a user-friendly, secure platform for investing since 2013.

With a target audience that spans Australian and UK markets, CoinJar welcomes newcomers into cryptocurrency trading while providing advanced features for seasoned traders.

CoinJar features

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
  • It comes with the CoinJar Card, which acts as a bridge between virtual and real currency. This feature 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 simplify the process of investing for its customers. This approach has resonated with global users and has led CoinJar to be named the Digital Currency Exchange of the Year at the 2023 Blockies Awards.

CoinJar’s commitment to providing a multi-coin wallet, customer support, and offerings like CoinJar Bundles make it a distinguished cryptocurrency exchange.

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 54 cryptocurrencies on their platform. This exchange currently supports 16 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • USDC (USDC)
  • XRP (XRP)
  • Dogecoin (DOGE)
  • Toncoin (TON)
  • Cardano (ADA)
  • Avalanche (AVAX)
  • Shiba Inu (SHIB)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • TRON (TRX)
  • Bitcoin Cash (BCH)
  • NEAR Protocol (NEAR)
  • Polygon (MATIC)
  • Litecoin (LTC)
  • Pepe (PEPE)
  • Internet Computer (ICP)
  • Uniswap (UNI)
  • UNUS SED LEO (LEO)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Aptos (APT)
  • Render (RNDR)
  • Hedera (HBAR)
  • Immutable (IMX)
  • Mantle (MNT)

The platform’s support for digital currencies signals its commitment to many trading possibilities. However, compared to its competitors, it does have limited cryptocurrencies available.

Still, CoinJar continually adds new cryptocurrencies, strengthening its stance as a top Australian crypto exchange.

Trading Experience

CoinJar’s trading experience is aimed at both novice and seasoned traders. The CoinJar Bundles, for example, are suitable for those seeking to diversify their portfolios without the complexity often associated with investment choices.

These theme-based baskets of cryptocurrencies offer a lot of options, from the simple Bitcoin Bundle to the advanced DeFi Bundle, allowing users to track performance and quickly rebalance their holdings.

The recurring buy feature on CoinJar further simplifies one’s investment journey; it’s a strategic tool for those keen on dollar cost averaging. With a few taps, users can automate their purchases to coincide with their financial schedules, whether weekly, fortnightly, or monthly, to cultivate an investment habit that rides out market volatility.

Needless to say, trading on CoinJar is a streamlined process. Here’s how it works:

  1. After account verification, select a Bundle within the app.
  2. Deposit funds by simply adding them.
  3. Selling is straightforward as users can cash out for multiple fiat currencies or transfer funds directly to their wallets.
CoinJar exchange marketing

CoinJar Fees

Looking at 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, which appeals 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, their withdrawal fee is 0.000079 BTC. The average across all other exchanges that we've reviewed is 0.000409 BTC. This means CoinJar charges below the industry average by 80.70%.

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?

Using multi-sig and biometric-enabled wallets and two-factor authentication, CoinJar defends itself against unauthorized access. Integrating machine learning algorithms further enhances this protective layer by proactively identifying and mitigating suspicious activities.

CoinJar’s commitment extends to the base of its foundation. Heavily encrypted and isolated networks help safeguard user data and funds. Using Amazon Web Services for strict access control, CoinJar assures its users that their investments are secure.

Indeed, the platform’s security is so extensive that they perform background checks on employees, conduct regular security training, and employ a systematic verification process for transfers to cold wallets. These measures and a strong recommendation for users to use complex passwords via password managers ensure that customers’ assets are fully protected.

CoinJar Customer Support

Employing a personal touch remains a core component of CoinJar’s customer service. The platform’s commitment to its customers can be seen in the glowing reviews on Trustpilot. Users have praised the support team for their understanding approach, proving that empathy is as important as resolving questions and concerns.

CoinJar’s customer service efficiently deals with delayed transactions and account security issues. The platform’s team is commendable in its timely and friendly resolution of challenges, proving its dedication to helping its customers.

Yet, Coinjar is not without issues; some users have encountered difficulties with withdrawals and two-step verification, which is a reminder to all of 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

CoinJar Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

The CoinJar Card

The CoinJar Card, empowered by Mastercard, is a 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, removing the barrier 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 with a few taps. Because it’s prepaid, the CoinJar Card is a cost-effective means of using cryptocurrency in the physical world. It also comes with daily spending and ATM withdrawal limits to safeguard users’ finances.

CoinJar Mobile App

The CoinJar app is a powerful companion for on-the-go management and cryptocurrency trading. Available for both iOS and Android, the app provides a full-featured 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

  1. 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.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Osko
  • PayID
  • Paypal
  • Apple Pay
  • Google Pay
  • Faster Payments
  • Blueshyft
  • EML

CoinJar Alternatives

Swyftx logo

Swyftx

4.72
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
350+

Trading Fees
0.1% - 0.60%

Fiat Currencies Supported
USD, AUD, NZD

Visit Swyftx
CoinSpot logo

CoinSpot

4.38
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
441+

Trading Fees
0.10% - 1%

Fiat Currencies Supported
AUD

Visit CoinSpot
Binance logo

Binance

3.23
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
392+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others

Visit Binance

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 security measures provide a stable background for financial exploration.

Among other 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 characteristics merge into a platform that keeps pace with the growing demand for 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 straightforward. Users can transfer their cryptocurrency to an external wallet or fiat currency to a linked bank account through the platform’s user interface.

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 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. It adheres to local financial regulations and offers services customized to Australian residents, such as BPAY deposits and support for Australian dollars, alongside its 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, go 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.

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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 Headshot
Written by

Crypto Technical Writer

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.

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Edited by

Co-Founder / Managing Editor

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.

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