CoinJar cryptocurrency exchange review
Both beginners and experienced traders can get the benefits of CoinJar.
- Great for quick buys or active trading
- Not so great for trading a wide range of coins
Check out our full list of pros and cons or read on.
|Product Name||CoinJar Trading Platform|
|Cryptocurrencies||BTC, ETH, XRP, LTC, ZEC, ZRX, BAT, DAI, USDC|
- Supports BTC, ETH, LTC, XRP, ZEC, USDC, DAI, BAT and ZRX
- BTC/AUD trading pairs available on CoinJar Exchange
- Flat 1% conversion fee
- In-house Australian support team
- Instant, fast and free deposits via bank transfer (PayID) and BPAY
- Instant cash deposits via Blueshyft
- Free withdrawals to your bank account
- Lacks multi-signature capability
- Not open source
What's in this guide?
- Which fiat and cryptocurrencies are supported?
- Which payment methods are accepted?
- What's it like to use CoinJar?
- How fast will my funds be available?
- Is CoinJar safe to use?
- How do I create an account at CoinJar?
- What else do I need to know about CoinJar?
- In a nutshell
- Compare CoinJar against other exchanges
- Frequently asked questions
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: AUD
- Supported cryptocurrencies: 9 cryptocurrencies
Which payment methods are accepted?
What's it like to use CoinJar?
Platform trading fees
Different fees apply to different CoinJar services, with all fee amounts in AUD. The main services include CoinJar buy/sell (broker), CoinJar Exchange (the trading platform) and CoinJar Swipe (the crypto debit card).
The fees below are accurate as of 31 December 2019.
CoinJar buy and sell
The buy and sell prices are determined by the current prices on the CoinJar exchange. You will use the standing buy prices when buying crypto, and sell prices when selling.
You will be given a reference price as an indication, but your actual price may vary slightly. Whether buying or selling, the fees depend on the payment method.
|Coinjar cash account||1%|
These are the fees for trading on CoinJar Exchange, rather than simply buying and selling. CoinJar Exchange has a tiered fee structure for AUD to crypto trades, and a set fee regardless of volume for crypto to crypto trades.
|Tier||Taker fee||Maker fee|
|Any crypto to crypto trade||0.1%||0%|
|AUD to crypto trade tiers (AUD trade volume per 30 days)|
|$0 to $10,000||0.3%||0.2%|
|$10,000 to $100,000||0.3%||0.1%|
|$100,000 to $1 million||0.3%||0%|
|$1 million to $10 million||0.2%||0%|
These are the fees that apply for specific actions related to the CoinJar swipe crypto debit card.
|Initial card purchase or replacement||$29|
|Loading with fiat||1%|
|Loading with crypto||$0|
|EFTPOS purchase or withdrawal||$0|
|ATM use||Varies depending on the ATM|
|BPAY deposit||None (BPAY transfers from credit accounts may incur fees though)|
How fast will my funds be available?
Up to 1 minute
NPP and PayID transfers can take up to 1 minute. Most bank transfers can complete on the next business day, but it may take longer where transfers are made late in the day or if it's your first transfer.
Most withdrawals will complete the next business day, but it may take longer on the bank's end.
Is CoinJar safe to use?
- Regulation. CoinJar is registered as a cryptocurrency exchange with AUSTRAC, and is a registered business in the UK.
- Verification process. CoinJar verifies users in line with its anti-money laundering obligations.
- Security features. CoinJar offers two factor authentication, uses a machine learning system to monitor for suspicious transactions and keeps at least 90% of customer funds in geographically diverse cold storage at any given time.
How do I create an account at CoinJar?
What else do I need to know about CoinJar?
CoinJar was founded in 2013, and backed by venture capital funds. It moved its office location to the UK in 2014 but continues serving Australian customers, and is registered as a cryptocurrency service in Australia.
In a nutshell
- Multi-feature. Between the wallet, exchange and Swipe, CoinJar lets you do much more with your crypto than a normal exchange.
- Simple start for beginners. Crypto newcomers can get started easily.
- Competitive exchange fees. CoinJar Exchange has highly competitive fees compared to most other exchanges.
- Limited selection. A limited range of coins is available.
- Fees apply. You need to be aware of the fees for different products.
- Spreads. CoinJar pricing is based on the current spreads on its exchange, and may vary.
Ready to sign up?