Get the Finder app 🥳

Track your credit score, free

Free

CoinJar opens “Australia’s fastest digital currency exchange”

Posted: 7 June 2018 3:02 pm
News

The fastest draw in Australia?

At its heart, CoinJar is a straightforward bitcoin brokerage, charging a flat 1% commission on buys, with prices based on a weighted market average. Now on 7 June, citing popular demand from its users, CoinJar is introducing "Australia's fastest digital currency exchange."

"Traders are looking for more sophisticated and advanced ways to capitalise off the volatility of digital currency," said CoinJar CEO Asher Tan. A digital currency trading platform has been a long-requested product from the company’s customers and in line with demand, we've developed CoinJar Exchange. Cryptocurrency and blockchain is growing in popularity and as mainstream demand grows, the industry must also grow to meet it."



"CoinJar Exchange boasts a superior trading engine which processes and fills orders faster than any of its competitors in Australia. This reduces latency and provides sophisticated and retail traders with a faster experience when trading using the CoinJar Exchange," the press release reads.

"Integration with buy and sell orders from other exchanges will provide greater market liquidity, allowing CoinJar traders to enter and exit with ease. The exchange also has an open trading application programming interface (API), allowing developers to build, and traders to use advanced algorithmic trading systems to give them an edge."

It offers BTC, ETH, LTC and XRP trading, with a range of features including market depth and price charts, multiple auction windows and time-enforced order types, through a customisable interface. It doesn't offer additional order types such as stop limits.

There are varying fee structures and services for traders, ranging from a flat 0.5% maker and taker fee at the lowest rung to from 0.05% for institutional traders who commit to a high volume of trading.

Although for anyone who wants to take it for a speed test, CoinJar is offering 0% trading fees until the end of June.

  • Casual - Free account, with 0.5% maker and taker/auction fee, and email support.
  • Trader - Free with $100,000 annual trade volume, 0.3% taker and 0.2% maker/auction fee. This account tier gets priority email support as well as phone support.
  • Premium - AUD$5,000 per year account fee, 0.15% taker and 0.1% maker/auction fee. All the customer service benefits of the Trader package, along with a dedicated account manager.
  • Institutional - With a commitment to a certain trade volume, this account tier can get "from" 0.05% taker to "from" 0.05% maker/auction fee, and all the other customer service benefits.

The exchange will run across three discrete 8-hour trading sessions per day, with the final 10 minutes of each being an auction phase where orders are accepted but not matched.

The volatility of cryptocurrency markets can present a tempting option for traders, especially in an environment where concerted hodling no longer seems to be the easy path to wealth that it appeared in 2017. And speed is naturally an important factor in getting a leg up on the competition.


Disclosure: At the time of writing, the author holds ETH, IOTA, ICX, VET, XLM, BTC and NANO.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news

Picture: Shutterstock

Latest crypto guides

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site