Coinjar Review 2022: Is It the Number 1 Crypto Exchange in Australia?

The exchange platform supports professionals, institutional and individual traders who look to use various digital coins. In the case where the store doesn’t approve of card payments, clients can withdraw cash from the conventional ATM while also checking their crypto wallet balance in the process. The advent of cryptocurrency saw a great transformation in the evolution of money and also led to creation of the cryptocurrency market which is a new niche in the financial market. This evolution has also brought about various platforms such as the CoinJar exchange platform that enables investors hold, sell and buy various cryptocurrencies. In our opinion, the best crypto exchanges depend on each individual’s choice.

  • This is a blanket policy for all users, without exceptions, justifying a high degree of confidence in the service.
  • CoinJar offers a collection of bundles, including the largest cryptocurrencies by market cap, stablecoins, ERC-20 tokens, etc.
  • Furthermore, the overall operations of the CoinJar exchange platform are also backed by top leading companies and investor groups within the crypto industry.
  • The vast majority of client crypto-funds are held in ‘cold storage’.

Coinjar has been around since 2013 and has done a good job keeping the site looking fresh. The dashboard starts you off with a look at your accounts – Everyday Bitcoin, a Hedged Account, and your Coinjar Rewards, which is activated when you verify your account. On the other hand, SMS are not encrypted by phone providers, and thus are susceptible to security threats like interception or port forwarding. SMS authentication operates by receiving an SMS on the client’s mobile device whenever CoinJar requires authentication. However, to check the complete fee structure of Coinjar, one of the known Australian exchanges, click here. Click on “Create Account” and verify the email address by clicking on the link sent to the email address provided by the users at the time of registration.

Crypto Management Options

This product is quite different from the CoinJar fiat-to-crypto exchange platform that has been in use since its establishment. To have access to this exchange clients can easily log in using their password and email address. The iOS app allows for all the same activities as the web-based platform, while the Android allow for buying, selling and transferring crypto, but does not have cash depositing set up. Note that the iOS device even grants access to CoinJar’s new exchange platform, which at the time of writing does not have enough volume to use. CoinJar allows users to deposit funds using a debit card or a credit card to buy cryptocurrencies on the platform.

coinjar review

Besides, if you withdraw to an Australian bank account, the transaction is free. To crown it, CoinJar has a dedicated in-house support team to assist you at every step of the way. Overall, the popularity of CoinJar brand continues to grow, covered by Australian mainstream media. CoinJar Exchange is an advanced cryptocurrency exchange that supports high-frequency, low-latency execution for experienced traders. It is the fastest digital currency exchange in Australia, designed to execute trades with speed and agility, faster than any other cryptocurrency exchange in entire Australia. Importantly, the CoinJar wallet enables users to pay with their preferred digital currency through QR code or a cryptocurrency address.

I supplied my telephone number for your people to call and sort this out. I wanted to be able to transfer to my other digital platform Coinspot. They kept telling me that I could not at this time, lead me on to believe that I would be re-instead at some time in the future, but no. Coinjar got off to great start, I was using them to send to multiple wallets frequently for over 12 months. These are but a few examples of the safety measures in place to protect your crypto assets. To get started, log into your CoinJar account and click on the „Get Verified Now“ option on the dashboard.

AUD withdrawals do not incur any processing fee whereas for international or non-AUD withdrawals a flat withdrawal fee of $20 is charged from the traders. For cryptocurrency withdrawals there is a network fee charged by the exchange which yet again depends on the blockchain load. CoinJar charges a flat fee of 1% per trade for all trading assets to buy and sell cryptocurrencies instantly.

CoinJar homepageCoinJar is one of the known Australian exchanges owned and run by CoinJar Australia Pty Ltd that mainly focuses on the Australian local crypto market and investors. Launched in 2013 by Asher Tan and Ryan Zhou with backing from reputable VC firms, CoinJar is one of the oldest cryptocurrency exchanges in the world. The cryptocurrency exchange is backed by Blackbird Ventures, Digital Currency Group, and Blackbird Ventures. Founded in May 2013, CoinJar is one of Australia’s leading digital currency exchanges. Headquartered in Melbourne, Victoria, the platform is known for its easy-to-use and simple innovations and products. Cryptocurrency% Above Real Exchange RateEthereum 1.0%Litecoin 1.5%Ripple 1.0%Chainlink 2.0%0x 0.2%If you’re looking to use CoinJar Exchange, you’ll pay a slightly lower fee.

Presently, CoinJar prides itself on having more than 400,000 clients who have traded more than $1 billion on its trading platform. Being one of the longest-running crypto exchange platforms in the world, CoinJar is quite sizable having more than $75 million in assets under custody. You can trade cryptocurrencies on CoinJar only if you are a resident of Australia or the UK.

Excellent security features

I transferred an amount of XRP over from Coinjar into a Lobstr wallet. It appears that there was an error made in the transaction process and the transfer never took place, and it seemed as if I had lost the XRP in the „ether“. A warning was all that was required in this instance about Cash FX, there was never a need to preclude me from using any other wallets.

CoinJar’s prime interface is clearly modelled on those of the most popular fintech firms, which makes conducting business in crypto as easy as your everyday consumer banking. His hobbies include playing bad rugby and cooking acceptable curries. We use dedicated people and clever technology to safeguard our platform. You blocked me from using my wallet without any good reason for over 12 months, and it is still blocked. I missed profitable trades form your companies ineptness, without good reason.

coinjar review

After that simply choose which currency you want to buy and click on the relevant button. You can buy digital currencies with other cryptos, but you first must convert the funds, i.e. transfer them from one crypto account to another . Bear in mind that Instant Buy comes with a 2% transaction fee and a limit of up to $10,000 worth of digital currencies a day.

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Blueshyft offers instantaneous transfers, and allows for cash deposits. All expected recipients of fund transfers, including relevant digital currency addresses, full name and location of the recipient, as well as your relationship with the recipient. If the recipient is an organisation, please advise the organisation’s name. The interface of the mobile app is the same as its desktop version and all the operations can be executed instantly from the app. There is also another app called ‘CoinJar Touch’ that can be used for instant money transfers; however, this app too is accessible only by the Australian citizens.

In this UK – we cover everything there is know about the platform. This includes tradable cryptocurrencies, supported payments, fees and commissions, and safety. Security featuresSecurity is a key priority for CoinJar, with a dedicated page outlining the features that it implements.

Comparison Table of the Best Crypto Exchanges in Australia

Moving into 2022, UK residents will have access to the Coinjar debit card. This will allow you to purchase goods and services online and in-store. Each transaction will be converted by Coinjar at the point of purchase. If you decide to use the Coinjar exchange to trade cryptocurrency pairs, there is a different pricing structure.

The platform is trusted and supported by some transcendent investors, who have made a mark on Coinjar, and are relying on the platform with huge amounts to this date. On top of this, you’ll also have the option of going short, meaning that if you want to profit when cryptocurrencies lose value, you can. Nevertheless, here are some of the security features that Coinjar have in place to keep your funds safe.

CoinJar Wallet

Takers pay a fixed cost of 0.1% for crypto-to-crypto transactions, while makers pay 0%. For trades above $10 million, investors will pay a transaction fee of as little as 0.1%. Coinjar’s Over-The-Counter service is available to financial institutions and coinjar review professional traders. Using the OTC platform, investors can carry out off-exchange trades above 50,000 British Pounds or Australian Dollars. The instant exchange is Coinjar’s earliest offerings, allowing customers to purchase and sell bitcoin with fiat.

When I checked other cryptocurrencies available on CoinJar, the prices I was quoted were a little inconsistent . Again, this is because the exchange rate you’re offered for each cryptocurrency is determined by the best price on CoinJar Exchange at the time you’re buying or selling. If you want to use a debit or credit card to instantly buy Bitcoin , then you’ll be charged a higher fee of 2%.

One year after it was launched in Australia, the company expanded to the UK. Powerful products and services designed for institutions, market makers and finance professionals from Australia’s longest-running cryptocurrency exchange. For the CoinJar exchange platform, it gives the highest priority to the safety of its client’s investment fund, personally sensitive information, and the exchange itself. Good on Coinjar for integrating a debit card solution directly into their platform.


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