CoinJar offers Spot trading through its product, CoinJar Exchange. Trading fees for Makers range from 0.02% to 0.10%, and for Takers, from 0.06% to 0.10%, on Crypto/Fiat pairs. The company provides its affiliates 50% of commissions for the first 24 months.
CoinJar; A Background Check on the Company
Founded in 2013 in Melbourne, Australia, CoinJar has established itself as a pioneer in the cryptocurrency industry.
The company's longevity is a testament to its resilience and adaptability in a rapidly changing market. Here are some key points about CoinJar's background:
- Regulatory Compliance: Registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) in Australia and the Financial Conduct Authority (FCA) in the UK
- Security Focus: Utilizing institutional-grade custody solutions from providers like BitGo and Fireblocks
- Founders: Asher Tan and Ryan Zhou
- Client Base: 600,000+ customers
CoinJar Table of Specifications
The exchange offers a wide range of products, from CoinJar cards (credit cards) to bundles (customized crypto baskets) for investors. Let's break down some of CoinJar's key specifications:
Exchange | CoinJar |
Launch Date | 2013 |
Levels | 4 levels |
Trading Fees | Variable based on user level and trading pair |
Restricted Countries | 48 countries |
Supported Coins | 60+ |
Futures Trading | No |
Minimum Deposit | $10 |
Deposit Methods | Crypto, Fiat |
Withdrawal Methods | Crypto, Fiat |
Maximum Leverage | 1:1 |
Minimum Trade Size | $20 |
Security Factors | Cold storage, Multi-level data encryption, Machine learning for detecting suspicious activities, Partnership with BitGo and Fireblocks |
Services | Crypto Bundles, CoinJar Card, Spot Market, Recurring Buy |
Customer Support Ways | Ticket, Email |
Customer Support Hours | Monday through Friday from 9 a.m. to 2 a.m. (AET) |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | No |
CoinJar Exchange User Levels
CoinJar offers a tiered system for users, with different levels providing reduced trading costs for Crypto/Fiat pairs.
Level | Crypto/AUD, USD, GBP, & EUR Monthly Trading Volume |
1 | < $60,000 |
2 | < $600,000 |
3 | < $6,000,000 |
4 | > $6,000,000 |
CoinJar Fees Explained
While the company charges no transaction costs on deposits, Instant Buy via Credit/Debit cards and Google/Apple Pay comes with a 2% fee.
Here’s what you need to know about CoinJar fee structure:
Transaction | Fee |
Converting fiat to crypto | 1% |
Converting crypto to fiat | 1% |
Converting crypto to crypto | 1% |
Recurring Buy | 1% |
Crypto deposits | 0% |
Crypto withdrawals | variable |
CoinJar provides Spot trading through its dedicated product, CoinJar Exchange. The product features a tiered fee structure for Crypto/Fiat pairs:
30-Day Trading Volume | Maker Fee | Taker Fee |
< $60,000 | 0.10% | 0.10% |
< $600,000 | 0.08% | 0.10% |
< $6,000,000 | 0.04% | 0.08% |
> $6,000,000 | 0.02% | 0.06% |
Maker/Taker fees for Crypto/Crypto and Crypto/Stablecoin pairs are 0.00%/0.06%. The low trading costs for Stablecoin/Fiat and Stablecoin/Stablecoin pairs (Maker/Taker: 0.00%/0.001%) are among the advantages of trading with CoinJar.
Listed Cryptocurrencies on CoinJar Exchange
The platform has listed 60+ cryptocurrencies for buy, sell, and swap. It also provides 7 markets, including BTC, Fiat (AUD, GBP, EUR, and USD), and Stablecoins (USDT and USDC), for spot trading with 200+ trading pairs. Some of the most popular cryptocurrencies on CoinJar:
- AVAX
- TRX
- ETC
- PEPE
- WIF
- BONK
- SUI
- LDO
- ENS
- APE
- 1INCH
- RPL
- ETH
- MANA
- GALA
Leveraged Trading
One of the downsides of this CoinJar review is the lack of leverage options. The exchange primarily focuses on providing an OTC market for cryptocurrencies.
Leveraged trading, which allows traders to amplify their potential returns by borrowing funds, is a high-risk, high-reward strategy that many advanced traders seek.
Check TradingFinder’s Forex education to learn more about leveraged trading and its requirements.
Account Opening and Verification on CoinJar
To open a CoinJar account, users must be at least 18 years old and complete a thorough KYC procedure. Account verification is only available if you’re a citizen or resident of Australia, England, and Ireland.
- Visit the exchange’s official website;
- Click “Join CoinJar”;
- Fill out the registration form;
- Verify your email address;
- Click “Verify Your Info” and then “Continue”;
- Select your country and fill in the personal information form;
- Provide supporting documents (Australian Driver License/Passport or International Passport).
CoinJar Safety & Security
In this CoinJar review, we must mention that the platform prides itself on robust security measures, such as cold storage for clients’ funds and compliance with financial authorities. Factors to consider about CoinJar safety:
- No record of downtime since 2013
- Cold storage and multi-sig wallets
- Multi-level data encryption
- Regular security audits
- Use of machine learning for detecting suspicious activities
- Partnership with BitGo and Fireblocks for asset security
- Compliance with AUSTRAC and FCA UK
CoinJar Exchange Payment Methods
The platform accepts AUD, GBP, and EUR deposits with no transaction fees. CoinJar supports Crypto internal and external transfers. Note that the only methods for fiat withdrawals are Bank Transfers and NPP payments. CoinJar funding options:
- PayID and Osko (AUD): Instant bank transfers for Australian users
- Faster Payments (GBP): Quick bank transfers within 1-2 hours
- SEPA (EUR): Bank transfers with a 1-2 business days processing time
- Bank Transfers: Traditional bank transfers supported for various currencies
The exchange also supports Crypto Instant Buys with no need for deposits. However, this method incurs a 2% fee. Supported methods for CoinJar Instant Buy:
- Visa and MasterCard
- Google Pay and Apple Pay
CoinJar User Experience
The platform has gained an average status on reputable sources like TrustPilot and CoinGecko. The CoinJar TrustPilot profile features 2,455 comments, 75% of which are positive (4-star and 5-star).
CoinGecko | 6 out of 10 |
TrustPilot | 3.7 out of 5 |
Only 19% of CoinJar reviews on TP are negative (1-sat and 2-star), and the exchange has replied to 98%.
Does CoinJar Offer Copy Trading Services or Investment Plans?
The exchange does not offer copy trading services. However, it provides CoinJar Bundles, themed baskets of Crypto for investment diversification with the following features:
- Proportional and cap-allocated
- Recurring Buy feature for Dollar cost averaging
- 14 different bundles, such as Gaming, Solana, Bitcoin, DeFi, and CoinJar Universe
Writer's opinion and conclusion
CoinJar provides Instant Buy via Credit/Debit cards and Google/Apple Pay for over 60 cryptocurrencies with a 2% fee.
The exchange accepts AUD, GBP, and EUR deposits and is only available to residents or citizens of England, Ireland, and Australia. It has a TrustPilot score of 3.7 out of 5.0.