In this CoinJar review, we explore one of Australia’s oldest cryptocurrency exchanges, founded in 2013. CoinJar stands out for its beginner-friendly interface, low bank transfer fees, and unique CoinJar Card, which lets users spend cryptocurrency like traditional currency.
Primarily catering to users in Australia and the UK but looking to expand to the USA, Ireland, and some other countries soon, CoinJar provides a seamless entry point into crypto trading. But how does it stack up regarding features, fees, and security? Read on to discover if CoinJar is the right platform for you.
Our verdict on CoinJar exchange
CoinJar is a solid choice for beginners entering the world of cryptocurrency. Its simple user interface, low-cost deposits, and CoinJar debit card make it an attractive option for those who want to trade or spend their crypto seamlessly. However, for advanced traders, CoinJar lacks features such as margin trading or crypto futures contracts, which might push them to seek more feature-rich platforms.
CoinJar’s payment methods are quite versatile; they encompass bank transfers and credit or debit cards alongside free bank deposits in AUD and GBP. The CoinJar app is intuitive, offering easy navigation across desktop and mobile platforms, thus allowing users to manage their wallets and transact effortlessly.
For beginners, CoinJar excels because of its integrated privacy-focused crypto wallets and straightforward trading experience. However, experienced traders might find the absence of advanced features—like margin trading—and a limited selection of cryptocurrencies (68+ coins) disadvantageous. Although the app presents a user-friendly interface, this could be perceived as a drawback for those seeking more robust tools.
Regarding customer service, CoinJar mainly offers email and ticket support, which is a significant drawback for users desiring live chat or immediate replies. However, CoinJar’s robust security features alleviate these limitations: the cold storage of 90% of user funds bolsters its reliability and trustworthiness.
Exchanges like CoinJar
| Exchange | No. of Cryptos | Funding | Trading Fees | Support | KYC |
|---|---|---|---|---|---|
| OKX | 350+ | Credit card, global bank transfer, P2P trading, third-party payments | Maker: 0.08%; Taker: 0.1% Better rates available to VIP users | Live chat, email, voicemail | Yes |
| MEXC | 2,600+ | Credit card, global bank transfer, P2P trading, third-party payments | Maker: 0%; Taker: 0.2% | Email, ticket system, live chat | Yes |
| Binance | 350+ | Binance P2P, cash, crypto deposit, bank transfer | Maker: 0.1000% Taker: 0.1000% | Email, live chat | Yes, but possible to bypass with limited features |
| Margex | 40+ | Credit card, global bank transfer, P2P trading, third-party payments | Maker: 0.01%; Taker: 0.06% | Live chat, email | Yes |
| ByBit | 650+ | Credit card, global bank transfer, P2P trading, third-party payments | Spot trading: Maker: 0.01%; Taker: 0.06% Rates vary by trading type. VIP rates also available. | Yes | |
| Bingx | 700+ | Credit card, global bank transfer, P2P trading, third-party payments | Varies by token type | Ticket system | Yes |
| Kucoin | 900+ | Credit card, global bank transfer, P2P trading, third-party payments | Tiered 0.00%-0.1% | Live chat | Yes |
Pros and cons of CoinJar exchange
Pros
- Supports 68+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), offering a solid selection for beginner investors.
- Free AUD and GBP bank transfers for deposits and withdrawals, making it cost-effective for users in Australia and the UK.
- CoinJar Card allows users to easily spend their cryptocurrency as fiat, providing added flexibility for everyday transactions.
- The user-friendly interface makes it easy for beginners to start trading without a steep learning curve.
- 90% of user funds are held in cold storage, which provides strong security measures to protect against hacking and fraud.
Cons:
- No margin or futures trading, limiting advanced features for experienced traders looking to leverage positions.
- There is a 2% fee on debit/credit card deposits, which can add up quickly for users who rely on card payments.
- Limited customer support options, with help only available through email and ticketing—no live chat or phone support.
- There is no spot market, meaning slightly higher prices compared to traditional exchanges that offer real-time market prices.
- No staking services, which may deter users looking to earn passive income on their cryptocurrency holdings.
Methodology: How we scored CoinJar exchange
We scored CoinJar exchange on the following criteria, which was measured across 46 individual data points. Our expert reviewers also applied their experience with the platform when judging subjective qualities like ease of use and customer service.
- Supported cryptocurrencies: CoinJar offers 68+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), but it lacks some trending tokens like Binance Coin (BNB). The selection is solid but could limit those seeking a wider range of altcoins.
- Payment methods: Bank transfers, PayID, SEPA, and card payments are supported. Bank transfers in AUD and GBP come with zero fees, although card deposits incur a 2% fee, which is higher than some competitors.
- Fees: CoinJar’s fee structure is competitive, ranging from 0.04% to 0.10%. Bank transfers do not incur a fee, but card payments do. The difference could be significant enough to make users wary of frequent card use.
- Ease of use: The desktop and mobile interfaces are friendly and suitable for beginners.
- Features: Ability to spend cryptocurrencies as fiat money with integrated CoinJar wallet and CoinJar debit card. Though the lack of advanced trading options like margin or futures is a disadvantage.
- Customer service: Offers customer service through email and a ticketing system, but no live chat or phone line. User reviews suggest mixed response times.
- Reputation and security: CoinJar is regulated by AUSTRAC in Australia and the FCA in the UK and enjoys a good reputation. The site has 90% of funds cold-stored, and no major security incidents have ever occurred, making it reliable for secure trading.
About CoinJar exchange
CoinJar is a crypto exchange founded in 2013 in Melbourne. Thanks to its ease of use and reliability, it is one of the most trusted in Australia.
Since then, the company has expanded to the UK and continues to work on its entry into other markets. In 2023, CoinJar started getting state-by-state licensing in the United States, ensuring its operations complied with the legislation to cement its international presence further.
CoinJar exchange fees
CoinJar offers a straightforward fee structure, making it appealing to both beginners and experienced cryptocurrency traders.
In particular, the platform’s competitive bank transfer fees stand out. However, card payments come with a higher cost than some competitors.
Deposit and withdrawal fees
| Deposit | Withdraw | |
| Bank account | Free | Free |
| Debit card | 2% | N/A |
| Credit card | 2% | N/A |
| PayPal | Not Supported | Not Supported |
Trading fees
| Buy (taker) | Sell (maker) | |
| Instant purchase | 2% | 2% |
| Spot market | 0.06%–0.1% | 0.02%–0.1% |
| Futures | N/A | N/A |
CoinJar supported cryptocurrencies
There are more than 460 cryptocurrencies available to trade on the CoinJar exchange.
These can be bought and sold with AUD or swapped instantly with any other cryptocurrency on the platform.
CoinJar includes popular cryptocurrencies such as Bitcoin, Ethereum, Pepe, Shiba Inu, XRP and Floki.
CoinJar key features
CoinJar offers a range of features designed to cater to beginners and more experienced cryptocurrency users.
Below, we’ve outlined some of the platform’s standout tools and services:
| Overview | |
| Wallet | CoinJar has provided an integrated cryptocurrency wallet that allows users to store, send, and receive any digital asset securely. This wallet is compatible with various cryptocurrencies, including Bitcoin and Ethereum, and thus is highly effective for ordinary crypto management. |
| Bundles | CoinJar Bundles allow users to buy a diversified basket of cryptocurrencies in one single transaction. This makes building a portfolio much easier since users can invest in a few popular cryptocurrencies without worrying about the complexity of buying individual assets. |
| Recurring buy | CoinJar allows users to establish recurring purchases, automating the process of buying cryptocurrencies regularly. The option supports dollar-cost averaging, one of the most important strategies for helping investors reduce market volatility over time with constant investments in a particular cryptocurrency. |
| CoinJar rewards | Through the Loyalty program, users get points for every transaction. The points can be reedemed for free or discounted trading fees, which is a major incentive those power users. |
| CoinJar debit card | CoinJar Card in Australia allows users to spend their cryptocurrency as easily as regular fiat. This card also utilizes full compatibility with both Apple Pay and Google Pay, making it easy for users to make everyday purchases almost anywhere. |
| CoinJar SMSF | CoinJar allows investment in cryptocurrencies through an Australian Self-Managed Super Fund, somewhat akin to a 401k in the United States. This feature will enable users to add crypto directly to their retirement savings while maintaining compliance with regulatory requirements and enabling tax benefits on the crypto invested. |
| CoinJar Exchange | CoinJar Exchange is the platform’s advanced trading option. It allows users to access spot market trading with lower fees than the regular brokerage-style platform. It is perfect for people looking to trade spots efficiently in real-time without margin and futures trading. |
CoinJar app review
CoinJar’s mobile application is iOS- and Android-friendly; it offers a very intuitive and clean interface, mirroring the functionality of its desktop platform.
It allows users to buy and sell cryptocurrencies easily, look up market prices, and manage their CoinJar Card. The app is user-friendly and ideal for more novice users, though more advanced traders might feel limited without access to detailed charting tools and deeper trading options.
That said, the app’s ease of use and seamless compatibility with the CoinJar ecosystem make it a great tool for daily crypto management on the go.
User ratings of CoinJar
| Rating | Number of reviews | |
| Google Play | 3.5 | 1.7K+ |
| Apple Store | 4.7 | 14K+ |
| Trustpilot | 4.2 | 2.4K+ |
CoinJar customer satisfaction
User reviews for CoinJar are generally positive, particularly highlighting the platform’s ease of use and the convenience of the CoinJar Card.
The simplicity of transactions and intuitive interface are major benefits for beginners. One Apple App Store user said:
“[CoinJar is] Simple and easy to use for anyone getting into crypto. All transactions are very easy and fast.”
However, some users report issues, especially concerning delays in accessing funds. A Trustpilot user shared their frustration on this subject:
“They hold any deposit from FIAT for 7 days before allowing you to access your own cleared funds.
”Overall, user sentiment is favorable, though advanced traders may find the feature set limited.
CoinJar customer support
CoinJar offers customer support via email and a ticket-based system. However, neither live chat nor phone support is provided, which may be inconvenient to some users.
Though the help center is relatively broad and covers many topics, response times can be slow for more complex queries. This lack of real-time support could be frustrating for users that need urgent assistance.
On the other hand, clear guides and resources on common issues can be found within the platform.
How to contact CoinJar customer support:
✔ Support Ticket
✔ Help Center
Is CoinJar safe?
CoinJar has implemented many security measures to safeguard users and their capital. Here is an overview of the various security and compliance features that CoinJar entails:
- Security: User safety is a priority for CoinJar, with 90% of user funds held in cold storage, meaning that online threats cannot compromise wallets. Additionally, CoinJar uses 2FA to add another layer of protection to a user’s account
- Insurance: Unlike other platforms, CoinJar does not explicitly offer insurance coverage for user funds in case of a hack or breach. This could concern users looking for additional protection beyond standard security measures.
- Proof-of-Reserves: CoinJar has not yet provided a proof-of-reserves system, allowing users to verify that the platform holds enough assets to cover customer balances. This transparency feature is becoming increasingly common on other exchanges and is something users might want to keep in mind.
- Past Hacks: Since 2013, CoinJar has kept a clean security record, with no known hacks or significant breaches. This only adds to its reputation as a trustworthy platform in the cryptocurrency space.
- Legal Issues: CoinJar is fully compliant with local regulations. It is registered with AUSTRAC in Australia and with the FCA in the UK. As a result, the exchange has to follow strict financial standards and AML requirements in both markets. This makes CoinJar quite reliable for users in these regions.
- Reputation: In a decade of operation, CoinJar has carved a name for itself. With its staunch commitment to regulatory compliance, focus on security, and ease of use, it’s little wonder this platform is favored by rookie and experienced traders alike.
How to sign up on CoinJar
Signing up for CoinJar is a beginner-friendly process. Here’s a guide to help you get started in a few steps:
Step 1: Visit the CoinJar website and register
The first thing you will need to do is visit CoinJar’s official website or download the app. Click the “Register” button, enter your email or cell phone number, and create a secure password.
Step 2: Verify your email or phone number
After the previous step, CoinJar will send you a verification link or code via SMS or email. Click on the link or enter the code to verify your account and proceed with registration.
Step 3: Create a username and select your country
After verification, you will be asked to create a CoinJar username and confirm your country of residence. This ensures that you have access to relevant services, such as local payment methods.
Step 4: Verify your identity (KYC)
For regulatory purposes, CoinJar requires new users to complete Know Your Customer verification to use an account’s features fully. KYC usually includes:
- A government-issued photo ID (passport, driver’s license, or ID card).
- Proof of address through a utility bill, bank statement, or similar document.
- You may also be required to take a selfie.
This process is completed entirely through the CoinJar app. It generally takes just a few minutes, though depending on volumes, it may take longer.
Step 5: Link your bank account and start trading
Once KYC is approved, one can connect their bank account and fund the CoinJar account via bank transfer or card. Once you have funded your account, you will be allowed to trade cryptocurrencies like all the rest.
