CoinJar cryptocurrency exchange

Overview of CoinJar

CoinJar is an Australian-based cryptocurrency exchange that was established in 2013. It is one of the oldest crypto exchanges currently on the market. The exchange allows users to enter the world of cryptocurrency investing through a simple and beginner-friendly platform. While offering a vast range of digital assets, the platform is uncomplicated and could be the perfect starting point for inexperienced investors.
Although initially targeting those new to crypto, the exchange now also offers a range of advanced trading features, such as charting software and different order types. The exchange can be used via both desktop and mobile applications, and users can top up accounts using both card or bank transfers.

• If this is your first exchange. You will find a beginner-friendly platform which offers a varied range of digital assets but keeps things simple.
• If you’re switching exchanges. Coinjar has added advanced trading features along the way, so you can take advantage of different order types and charting software.

Verdict: Is Coinjar any good?

CoinJar’s strength lies in its simplicity and efficiency. It is a platform that inexperienced investors can use to dip their toes into the cryptocurrency industry very effectively. The built-in wallet will keep digital assets secure and the advanced charting software is available if people want to venture outside of long term investing. CoinJar’s new crypto card also provides an additional level of flexibility for those looking to spend digital assets.

While the exchange performs the simple things well, there are certain features missing that means it cannot compete with the likes of Binance or KuCoin – but it is also not aiming to. The exchange is accessible to view worldwide, but it is only available for use for those living within the United Kingdom or Australia.

So for UK or Aussie beginners – this may be the exchange for you, provided you don’t want your hand held too much. If you’re not into trading and are looking for a long term investing (hodling) platform CoinJar is perfect. For those looking to actively trade, there may be better competitors on the market.

What to know about CoinJar

Although more commonly used as a route for those looking to hodl (hold) cryptocurrencies over the long term, the exchange has now expanded to include an advanced trading platform for those looking to capitalise on short-term moves.

The regular platform offers users the opportunity to buy and sell cryptocurrencies using fiat currency reserves. Once purchased, cryptocurrencies can be stored securely on the exchange’s built-in crypto wallet and tracked using the exchange’s live market data. CoinJar now also offers users the ability to spend cryptocurrency holdings thanks to the new CoinJar Card. Alongside investing, users can access the advanced digital currency trading platform and Over-The-Counter (OTC) services.

Finder ratings

Supported cryptocurrencies
Transferring money or assets
Fees and costs
Ease of use
Customer service
Features
Staking/earn rating?
Trustworthiness/security
Overall score

• Supported cryptocurrencies

  CoinJar supports both GBP and AUD as fiat currencies. In terms of cryptocurrencies, it has around 53 cryptocurrencies. These are split into two categories. The following currencies can be traded, sent, receive and stored using CoinJar:

  • BTC
  • ETH
  • LTC
  • XRP
  • XLM
  • ALGO
  • EOS

  All other coins supported by CoinJar are ERC-20 tokens.

• Transferring fiat and cryptocurrency

  CoinJar has a wide range of payment methods available to customers, making it easy to transfer both fiat and cryptocurrency. It even has an instant buy option where customers can use their debit or credit card or Apple Pay or Google Pay to directly purchase digital currencies. Just keep in mind, there is a 2% fee attached to this transaction.

• Fees and costs

  Trading cryptocurrency pairs on the CoinJar Exchange is charged differently in comparison to adding or withdrawing funds to your main CoinJar account.

  Note that the fees can change depending on your trading volume within the last 30 days.

  GBP trading pairs*	Taker fee	Maker/auction fee
  £0 – £6,000	0.00%	0.10%
  £6,000 – £60,000	0.00%	0.09%
  £60,000 – £600,000	0.00%	0.08%
  £600,000 – £6m	0.00%	0.06%
  £6m+	0.00%	0.04%

  Crypto trading pairs*	Taker fee	Maker/auction fee
  All volume	0.00%	0.04%

  Fiat withdraw and deposit fees

  Deposit	Withdrawal
  Free (2% for Instant Buy transactions)	Free

  Cryptocurrency withdraw and deposit fees

  Deposit	Withdrawal
  Free	Varies based on coin

What’s it like to use CoinJar?

Getting started

Signing up is simple with ID verification all done through CoinJar’s mobile app.

CoinJar Wallet

The on-platform CoinJar Wallet is a warm and friendly introduction to how a crypto wallet works.

Trade easily

You can buy or sell a range of popular cryptocurrencies directly using either fiat cash reserves or a bank credit or debit card.

CoinJar card

Now live in the UK, CoinJar’s MasterCard will allow you to instantly spend your crypto online and in-store.

Does Coinjar have good customer support?

Customer support on the exchange is provided in the form of a detailed FAQ section. If an answer cannot be found there, a customer support representative can be contacted via a ticketing system. Response times are generally sent within 2 hours.

CoinJar now has a local UK customer support office, with support available 17 hours a day. Monday to Friday you can talk to someone between 9am and 2am, and there is also weekend coverage between 9am and 5pm.

Reports on Trustpilot are largely positive, with users reporting quick response times and swift resolutions.

If you are on the CoinJar trader plan, you will have access to a special direct line for power users. However, even they don’t have access via live chat or social media.

List of services on CoinJar

At the time of writing, CoinJar has limited services in terms of trading and creating orders. But it does have some interesting additional features.

Cryptocurrency Bundles on Coinjar

For a more consumer audience, CoinJar offers crypto bundle products. Bundles are collections of the major cryptocurrencies you can buy to automatically diversify your holdings. Think of them as being a little like tracker funds in more conventional investing, where holdings can be determined by either percentages or relative values of the stakes. These add to CoinJar’s appeal for beginners, given the minimal level of thought required.

Crypto Card on Coinjar

The CoinJar Card allows users to spend cryptocurrency assets wherever Mastercard is accepted. The card automatically converts cryptocurrencies at the current conversion rate whenever a transaction is executed. For every £1 you spend you’ll earn 2 CoinJar Rewards points, which can be used to cover the cost of future trades. It supports 30 cryptocurrencies. All in-store or online purchases incur a 1% charge.

Trust rating

• Past Hacks

  CoinJar has not had any past hacks.

• Security audits

  Security is a key priority for CoinJar, with a dedicated page outlining the features that it implements. Encryption, privacy measures and TLS (transport layer security) are applied throughout and the exchange harnesses machine learning algorithms to spot suspicious behaviour.

• Insurance

  Additionally, 90% of the funds held by CoinJar are stored in offline wallets to avoid external breaches. CoinJar also claims to hold at all times sufficient reserves to cover customer balances with matched durations and in the appropriate currencies.

Signing up on CoinJar

Go through a step-by-step guide on the sign-up process, and how to pass KYC.

• Step 1: Create a free account

  Visit CoinJar’s homepage and click on Join CoinJar.

• Step 2: Enter email and set up password

  The next step is to enter your email address and then set up a password. You will shortly receive a verification email in your inbox.

• Step 3: Verify your email address

  Simply click on the link sent to you to confirm your email address and continue with signing up.

• Step 4: Create CoinJar username

  CoinJar will prompt you to create your account username and confirm which country you are in.

• Step 5: Download the app

  You will now have access to CoinJar’s dashboard, but you will need to get your identity verified to make full use of its features. In order to do this, you will need to download CoinJar’s app.

• Step 6: Enter your personal information

  First, you will need to input your personal information including name, address and DOB.

• Step 7: Submit a photo of your ID

  Next, upload a picture of your government-issued ID.

• Step 8: Scan your face

  To check that it is you, you will need to undergo a face scan in the app. All you need to do is place your face in the oval frame on screen and follow the instructions.

• Step 9: Submit proof of address

  You will also need to provide proof of address in order for your account to be verified. You can submit a bank statement, utility bill or council tax statement.

• Step 10: Wait for confirmation

  All that’s left to do is sit back and wait. In our road test we received confirmation this took a couple of hours.

Compare CoinJar against other exchanges

Sort by:

Name	Product	Deposit methods	Fiat Currencies	Cryptocurrencies
CoinJar Cryptocurrency Exchange Finder Award		Bank transfer, Credit card, Cryptocurrency, Debit card, Faster Payments (FPS), Apple Pay, Google Pay	GBP, AUD	57 cryptocurrencies	CoinJar offers a simple way to buy, sell, or trade cryptocurrency with GBP. Trade from your desktop or mobile with a 1% fee and withdrawals are free to your bank account.	Go to site View details	Compare	loading Fetching your data...
eToro UK Cryptoasset Investing Finder Award		Debit card, Neteller, PayPal, Wire transfer, Online banking	EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more	78 cryptocurrencies	Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Capital gains tax on profits may apply.	Go to site View details	Compare	loading Fetching your data...
Koinal Cryptoasset Investing		Credit card, Debit card, China Union Pay, SEPA, Swift or Apple Pay	USD, EUR, GBP	8 cryptocurrencies	Koinal lets you buy multiple cryptocurrencies instantly with Visa or Mastercard. 24/7 support and quick verification available on desktop or mobile.	Go to site View details	Compare	loading Fetching your data...

Disclaimer: Star ratings are only displayed for products with 10 or more reviews.

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Frequently asked questions

• Is CoinJar suitable for beginners?

  Yes – in our view, the straightforward interface and admin mean that CoinJar is ideal for newcomers to the crypto space.

• Is there a fee to open a CoinJar account?

  No, it's free to open a CoinJar account.

• Does CoinJar offer an iOS and/or Android app?

  Yes – CoinJar offers both.

• Is CoinJar open to everyone?

  Anyone in the world can open a CoinJar account to use as a crypto wallet.

  However, if you wish to use it as a currency exchange or link your CoinJar account to your bank account, you'll need to be a resident of either Australia or the UK.