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CoinJar Review: Is it legit, safe and trustworthy for UAE citizens and residents?

Exchanges and platforms for cryptocurrencies often provide their registered customers individualized cryptocurrency accounts or wallets in which they may store and secure their digital assets. One of these prominent cryptocurrency trading platforms is called CoinJar, and it has been drawing a significant number of users to its site recently. It is a trustworthy site that caters to traders of all experience levels, from novices to experts. It allows a smooth conversion of fiat cash to the digital currency, just like the majority of cryptocurrency exchanges do, which is what attracts investors from all over the world to try their hand at crypto trading. Visit CoinJar Website.

In this review of CoinJar, we will assist traders in analyzing the features, advantages, pros, and negatives of CoinJar so that they can become familiar with the platform prior to registering an account.

CoinJar is a trading platform for cryptocurrencies that was established in May 2013 by Asher Tan and Ryan Zhou and is situated in Australia. It is headquartered in Melbourne, which is located in Victoria. The cryptocurrency exchange provides users with a straightforward user interface in addition to cutting-edge goods such as the crypto debit card, the crypto EFTPOS card, and a CoinJar wallet application that is safe and compatible with mobile devices.

Although the cryptocurrency market and investors in Australia are the primary focus of the exchange, it also offer some of its services to customers located in other parts of the world. There are more than 400,000 users that are registered with CoinJar, and more than $1.5 billion worth of digital currencies being traded.

The exchange has received backing from a number of prominent investors, some of which include BlackBird Ventures, Boost VC, and Digital Currency Group, to mention just a few. Additionally, in addition to the typical cryptocurrency exchange-based services, CoinJar now provides a cryptocurrency index fund to traders. This fund enables traders to speculate on the price fluctuations of any four accepted cryptocurrencies with just one easy investment.

The functionality of CoinJar is identical to that of other prominent cryptocurrency exchanges. The local bank accounts of Australian citizens are one of the possible sources for funding the digital wallets associated with their accounts. For those using the platform for other purposes, it is possible to make deposits using any of the supported cryptocurrencies. Once the funds have been added to the account, traders will have easy access to purchase and sell any digital currency that is supported.

CoinJar generates revenue by imposing transaction fees on traders whenever a trade is executed on its platform. This is how the company makes money. After making a purchase of cryptocurrency coins, dealers also have the option of storing those coins in a CoinJar wallet. They also have the option to withdraw the money to their own personal bitcoin wallet or the finest cryptocurrency wallet. CoinJar provides its users with real-time technical charts that assist them in making informed trading decisions, in addition to the typical brokerage services that it offers. This allows CoinJar to facilitate the trading of cryptocurrency pairings.

The following capabilities are available through the CoinJar exchange:

Platform that is straightforward and uncomplicated to use, ideal for novices.
Provides access to a variety of free AUD deposit methods.
Traders will find that the CoinJar Swipe crypto debit card is really helpful.
Traders are able to trade on the fly thanks to mobile trading apps that are compatible with their devices.
Allows users to make deposits and withdrawals using both traditional currency and cryptocurrency.
Allows both ordinary trades and institutional traders to participate.
Identified as a member of AUSTRAC and AML.
A strong focus placed on safety.
A fast registration procedure that adheres to KYC regulations.
Helpful resources for traders, including a vast knowledge base and an exhaustive library.

CoinJar's Strengths and Weaknesses:

When compared to other standard cryptocurrency exchanges, CoinJar's many capabilities, which include a cryptocurrency wallet, exchange, and swiping, provide users the ability to do far more with their digital money.
Supports just a select few coins out of the many available today.
A good platform for newbie traders.
Pricing is determined by a currently applicable spread, which is subject to change at any time.
Competitive fee structure.
The customer service department is unavailable on the weekends.
right Compatible smartphone application.
It is not possible to short cryptocurrency coins.
Traders who have CoinJar Reward points can put those points toward offsetting the costs of currency exchanges or exchanging them for other rewards at the CoinJar Rewards Store.
Residents of Australia are the only people allowed to withdraw and deposit fiat cash.

The procedure for logging in to CoinJar is fairly straightforward and may be completed simply adhering to the steps that are stated below:

Visit the official CoinJar website and navigate to the top right corner of the page, where you will see an option labeled "Sign Up." Clicking on this tab will open the registration form.
Complete the questionnaire by providing your first name, last name, email address, and a robust password.
To use the CoinJar exchange, you must first agree to its terms and conditions.
Users must click the "Create Account" button and then click the link that was emailed to the email address they gave throughout the registration process in order to validate their email address.
After the user has successfully logged in to their CoinJar account for the first time, they will be prompted to choose a username, upload a photo of themselves, provide a valid mobile number, and then indicate their country of residence before the primary registration process is considered to be finished.

Users are not permitted to begin trading (buying or selling) Bitcoin on the CoinJar platform unless they have first verified their trading account on the CoinJar website. The process of verifying your account on CoinJar is completely automated and just takes a few minutes to finish using Digital ID, which is provided by Australia Post.

The following is a list of the actions that must be taken to verify an account:

To log in to your CoinJar trading account, use the credentials that you have already established.
On the dashboard, you'll see a button labeled "Get verified now." Click it.
Choose your status, either as an individual, a company, or an SMSF investor, from the drop-down menu.
To verify your identity using a digital ID, select the appropriate option.
Please provide a government-issued ID evidence before registering (maybe a Passport or a Drivers Licence).
Please fill in the data as they appear on the identification paper.
Examine the details provided.
After clicking on the 'Confirm' option, proceed to the 'Submit' button to complete the process.

CoinJar makes available to traders in Australia a crypto debit card known as the CoinJar Swipe card. With this card, traders are able to spend cryptocurrency at any retail location in Australia that accepts EFTPOS payments. Traders are also permitted to withdraw cash at any of the ATM locations or merchant vendors that are equipped with cash-out services.

The CoinJar Swipe Debit Card is exclusively offered to those who are citizens of Australia; it cannot be used in any country outside of Australia, either online or off. Additionally, at this time, it is not accessible to those living in the United Kingdom; however, the CoinJar team is working with card providers to make the service available in the United Kingdom.

The main difference between the CoinJar Swipe card and standard debit cards is that it may be used to make cryptocurrency transactions instead of traditional ones. The CoinJar Debit Card does not have any costs associated with the transactions, the monthly fees, or the activation fees. Additionally, there are no charges levied for loading fees when AUD transactions, EFTPOS purchases, or withdrawals are made using the CoinJar debit card. The loading fee for cryptocurrency currencies is the same as the standard exchange fee that CoinJar charges.

CoinJar is compelled to enforce some transaction limitations that it has set, and cardholders are responsible for adhering to these limits. There is a limit of 25 free transactions per day that may be completed using the card; beyond that, you will be charged a price for each transaction. The maximum amount that may be added to the card each day is 999 dollars, and the bare minimum you should have on the card is likewise 999 dollars.

In order to provide an additional layer of protection to their accounts, users should first verify their accounts, then enable two-factor authentication and SMS authentication before putting funds into their accounts. Users need to navigate to the "Settings" tab and click on the "Enhanced Verification" portion of the page in order to learn more about the security options and enable two-factor authentication (2FA). After this step has been completed, customers will be able to immediately navigate to the "Deposit Funds" page, where they may complete the appropriate deposits, and then immediately begin trading without being subject to any limitations.

To deposit fiat currency into their CoinJar wallets, registered users have the option of using any of the following payment methods:

This is an immediate payment option that enables customers to send payments from any approved Australian bank account completely free of charge by utilizing the PayID payment system. NPP and Osko® are able to provide assistance for PayID systems at any time of the day or night, 24 hours a day, seven days a week.

This is an additional cost-free payment channel that may be used by registered users of the CoinJar platform to purchase any of the supported cryptocurrencies with cash deposits. The Blueshyft payment system is accepted at more than 1,200 different retail locations in Australia and the rest of the world. In order to utilize Blueshyft, users are required to make a cash deposit of at least $50 and no more than $5,000 in a period of 24 hours.

In order to purchase cryptocurrencies using the CoinJar platform, customers are able to make deposits to their CoinJar accounts using a debit card, a credit card (Mastercard or Visa), or both.

On the CoinJar exchange, just as on most other cryptocurrency exchanges, registered users have the ability to deposit cryptocurrency coins straight to their own unique wallet address. The exact cryptocurrency coin that users are using to fund their wallets is a factor that determines how long the processing time is. However, the sum usually displays in their wallet within a maximum of fifteen to twenty minutes after the transaction has been completed.

Takers are subject to a different cost structure than creators under CoinJar's pricing model. The fee charged to takers for performing trades from fiat currency to cryptocurrency ranges from 0.1 percent to 0.5 percent per trade and is dependent on the number of trades executed. In contrast, the makers charge for the identical transaction is 0%, which cancels out the effect of the takers fee if traders are concerned about that aspect of the transaction. When exchanging cryptocurrencies with other cryptocurrencies, the cost charged to takers is a fixed rate of 0.1 percent, while the fee charged to producers is 0 percent.

The trading costs are deducted from the account balances of the traders, and as a result, the original margin of the order that was made is unaffected by this deduction. Users who trade more than $10 million worth of assets will be required to pay a trading charge that is as little as 0.1 percent.

To buy and sell cryptocurrencies instantaneously, CoinJar charges a flat fee equal to one percent of the total value of the deal for all trading assets. If traders feel that this fee is a little high in comparison to the average fee charged across the global industry, they can try out other trading options at CoinJar; the platform offers more advanced options such as charts and orders to cater to the requirements of cryptocurrency traders and professional investors.

The transaction costs associated with placing deposits of fiat currencies into a CoinJar wallet are determined by the payment methods that the traders use. There are no transaction fees applied to deposits made via BPAY, PAYID/NPP, or cryptocurrency. On the other hand, CoinJar levies a fixed cost of 1.5 percent for cash deposits and a fee of 2 percent for payments made using a debit or credit card.

When withdrawing AUD, traders are not subject to any processing fees; however, when withdrawing other currencies or amounts that are not denominated in AUD, traders are subject to a flat withdrawal cost of $20. The cryptocurrency exchange will impose a network fee for all cryptocurrency withdrawals, the amount of which is once again determined by the load on the blockchain. The table that follows provides information on the costs associated with deposits.

In addition, the table that follows provides information on the costs associated with withdrawals, and if you want to learn more, you may visit the CoinJar website.

You must be a resident of either the United Kingdom or Australia in order to engage in cryptocurrency trading (buying and selling) on CoinJar. Traders who do not reside in Australia or the United Kingdom can still sign up for an account on the platform; however, they will only be able to use the exchange as an online cryptocurrency wallet to send, receive, or store cryptocurrencies; they will not be able to engage in any trading activities on the platform.

CoinJar currently supports approximately 24 different digital currencies, some of which are Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), Ethereum (ETH), 0x Token (ZRX), Aave (AAVE), Algorand (ALGO), Chainlink (LINK), Bancor (BNT), EOS (EOS), Basic Attention Token (BAT), Curve DAO Token (CRV), Maker (MKR), Compound (COMP), Dai Among the several fiat currencies, CoinJar supports Australian Dollars and British Pounds.

A completely secure cryptocurrency trading platform, CoinJar is also AUSTRAC-registered for further peace of mind. The CoinJar exchange makes use of stringent anti-money laundering precautions, a machine learning system, and two-factor authentication in order to keep customer funds secure and to investigate any transactions that appear to be questionable.

CoinJar employs a number of methods, including data encryption, TSL (Transport Layer Security), frequent security audits, and a variety of other cutting-edge machine learning techniques (MLTs), in order to identify suspicious logins, financial fraud, and account takeovers.

At least ninety percent of the cash belonging to CoinJar wallet users are kept in a secure cold storage facility. Only offline and in many geographically diverse places do the hardware wallets save their contents.

CoinJar's two-factor authentication may be accomplished by either the Authenticator app or through SMS authentication. A client's mobile device will have an app called Authenticator put on it. This software will work by producing a new authentication code once every 30 seconds after it has been loaded. The trader will be able to use the code to successfully log in to his CoinJar account as soon as the app has been connected to his CoinJar account. The application utilizes top-tier encryption and is available to anybody with a reliable internet connection.

On the other hand, mobile phone service providers do not encrypt text messages, making them vulnerable to security flaws such as being intercepted or having their ports forwarded. When CoinJar requests authentication from a user, the SMS authentication process causes the user's mobile device to get a text message with a verification code. All that is required of them is to key in the code that was sent to them.

CoinJar provides its users with a comprehensive customer support section, in which users can browse through the Frequently Asked Questions (FAQs) or submit a ticket for any assistance related to services such as account and identity verification, depositing funds via a bank transfer, sending cryptocurrency payments, and a great deal more.

The only time the customer support team is available is between the hours of 8:00 am and 6:00 pm, Monday through Friday, Melbourne time. This is a challenge for traders who do not have a physical presence in Australia, since they may be compelled to communicate with the customer care personnel at inconvenient times.

Because CoinJar traders have easy access to customer service phone numbers if they subscribe to the CoinJar trader plan, However, the traders can only get in touch with the staff through the support ticket service the vast majority of the time.

Each user's preferences should be taken into consideration while determining which cryptocurrency exchange is the most advantageous for them. It would appear that CoinJar is a good alternative for people living in the UK and Australia. Investors are drawn to it because of its straightforward design, which is simple and straightforward to use. As a result, it is ideal for novices who wish to trade (buy and sell) Bitcoin (BTC) and other popular cryptocurrencies in a hurry. Therefore, if you are interested in purchasing Bitcoin (BTC), you should consider using CoinJar because it is a trustworthy platform that offers reasonable costs.

It is a cryptocurrency exchange platform that is simple to use and was built primarily for novices so that they can experience easy crypto trading (buy and sell bitcoin and other major cryptocurrencies) at trading costs that are competitive.

CoinJar was initially launched in the year 2013 in the country of Australia, and there is currently no additional information accessible regarding the headquarters of CoinJar in any other country. As a result, it is reasonable to believe that CoinJar is a cryptocurrency exchange based in Australia.

Is Purchasing Bitcoin Possible on CoinJar? Yes, buyers on CoinJar have the option of using either cash or fiat currencies to acquire Bitcoin.

CoinJar Australia provides customers with a secure cryptocurrency wallet that can be utilized to store crypto currencies until such time as the coins may be sold for a profit at the appropriate moment. The client's assets and personal information, along with other sensitive data, will remain secure within the wallet thanks to its "bank-like" security mechanisms. Approximately ninety percent of the cash belonging to customers are kept in offline cryptocurrency wallets that are kept in safe places.

Two-factor authentication (2FA), data encryption, Transport Layer Security (TLS), and frequent security audits are some of the ways in which CoinJar safeguards the information of its customers. CoinJar also ensures that its security measures are up to date by performing regular audits.

CoinJar Australia offers a mobile app that can be used on mobile devices running either the Android or iPhone operating systems. The mobile application is released at the same time as the mobile wallet. The application is available for free download on both the Apple App Store and the Google Play Store.

The user interface of the mobile app is identical to that of its desktop counterpart, and users are able to immediately carry out any and all tasks using the mobile app. There is an additional software available, which goes by the name "CoinJar Touch," that can be used to make instantaneous money transactions. However, the only people who may use this app are Australian nationals.

CoinJar is a cryptocurrency exchange that was first launched in Australia in 2013 and has now expanded its operations to the United Kingdom. It is suitable for newcomers to the trading world as well as seasoned professionals and even large financial organizations. It does not appear to be as popular as other of the finest cryptocurrency exchanges in Australia, such as Swyftx and Digital Surge, but if you are searching for an alternative exchange, it offers certain benefits that may be of interest to you.

Although it offers a number of useful features, CoinJar is not one of the best options available to cryptocurrency investors in Australia in my opinion. I appreciate that the platform is straightforward and simple to use, that there is a mobile app that can be downloaded, and that it enables deposit alternatives such as Visa and Mastercard, which are not often provided by other Australian exchanges. For me, the feature that really stands out is their brand-new CoinJar card, which is a Mastercard that can be loaded with your cryptocurrency and used both online and offline to make purchases.

The disadvantages of using CoinJar are that it only supports over 50 cryptocurrencies, which is a very small number, and that it charges higher trading costs of 1 percent.

The following is a list of the most important characteristics that CoinJar possesses, as summarized by me:

Platform that is straightforward and simple to use
Buy bitcoin quickly using Australian Dollar deposits made by Visa and Mastercard, all of which are accepted by the iOS and Android apps offered by CoinJar, so that you may spend your cryptocurrency just like cash.
Secure, private & encrypted

If you are interested in exploring more cryptocurrency exchanges in addition to CoinJar, I would suggest reading up on the best cryptocurrency exchanges in Australia.

You may determine for yourself if CoinJar is the finest cryptocurrency exchange to meet your needs by looking at the following list of the greatest services that CoinJar offers on their platform.

CoinJar has a straightforward and easy-to-understand user interface, making it ideal for those just starting out in the cryptocurrency world. In order to provide you with a better idea of how the CoinJar platform appears, I have included a screenshot of it below.

Buy cryptocurrency with Australian Dollars (AUD) instantaneously For Australian crypto buyers, the option to buy cryptocurrency with AUD is the most important feature that your exchange should offer. CoinJar provides this service so that you may buy cryptocurrency without having to first convert it to US dollars, so saving you both time and money.

Support for deposits made using Visa and Mastercard CoinJar is one of the few cryptocurrency exchanges in Australia that allows users to make deposits using Visa and Mastercard. Be aware that there is a cost of 2% if you choose to make your deposits using Visa or Mastercard, despite the fact that this option is more convenient. If it were up to me, I would use NPP to make deposits because it does not charge any fees. This way, rather than having your AUD eaten up by costs, you will be able to spend it on purchasing further cryptocurrencies.

Apps for iOS and Android may be downloaded: CoinJar's app can be found in both the Apple App Store and the Google Play Store. Because of this, you may access your digital currency at any time and from any location, allowing you to keep one step ahead of the competition. On whichever device you choose, you may purchase, sell, and see your portfolio with ease.

CoinJar Mastercard: CoinJar has introduced a card that is enabled by Mastercard and allows you to make purchases in-store or online exactly like you would with cash. You have the ability to load the CoinJar card with any cryptocurrency of your choosing directly from your CoinJar account. The card is free to set up, does not have any monthly fees, and you may earn CoinJar Rewards no matter how much you spend using it. There is also the possibility of spending your cryptocurrency without the need of a physical card by employing the services of Apple Pay or Google Pay on your mobile device or wearable.

Outstanding safety and security: CoinJar is equipped with the most advanced security features available to safeguard both your cryptocurrency and your personal information. Encryption of data, Transport Layer Security, frequent security audits, and best practice organization security are some of the various measures that are utilized. At least ninety percent of the digital currency belonging to consumers are kept offline, in several, independently protected locations throughout the globe.

There are several different ways to deposit funds, each with its own charge structure:

BPAY deposit: Free NPP deposit: Blueshift offers a cash deposit bonus of 1.5 percent free of charge.
Visa/Mastercard immediate buy: 2 percent
When purchasing cryptocurrency with fiat currency: 1 percent

CoinJar does not support the purchase of cryptocurrencies using other cryptocurrencies at this time; the platform only supports the purchase and sale of traditional currencies.

When you withdraw Australian dollars from your CoinJar account to an Australian bank account, CoinJar will not charge you any fees.

The CoinJar card is available, so you may spend your cryptocurrency just like cash. The CoinJar app is easy to use.
Easy-to-use UI for first-time users
Deposits made with Visa and Mastercard were supported in the fiat currencies of AUD and GBP.
Apps for both iOS and Android
There are over 50 cryptocurrencies only.
Commissions on trades up to 1 percent

CoinJar is a reputable cryptocurrency trading platform that was established in Australia in 2013. It has the backing of some of the most successful investors in the world, and it is also registered with AUSTRAC (the Australian Transaction Reports and Analysis Centre), which works to prevent the laundering of money and the financing of terrorist organizations.

To get access to the company's internal services, each and every CoinJar employee is needed to utilize a Multi-Factor Authentication method that is cryptographically sound, such as hardware U2F keys. Engineers are not granted access to production servers or application credentials, and all deployments are carried out independently by a deployment server. Before being hired, each member of the CoinJar team successfully completed criminal history checks.

CoinJar is not a poor option for Australians who are interested in investing in cryptocurrencies; it possesses several desirable features, such as the ability to make deposits using Visa and Mastercard credit cards. Nevertheless, I believe the limited selection of cryptocurrencies (there are only 50+ coins accessible) and the higher transaction fees of 1 percent are driving me toward other available choices.

CoinJar is a well-known cryptocurrency exchange that was established in May 2013 and provides customers with a hassle-free setting in which they can buy, trade, and sell various forms of digital money. The exchange is compatible with 59 different coins, all of which can be purchased using Australian dollars (AUD) and one of several other payment methods. A safe wallet, an intuitive user interface, a cryptocurrency debit card, and a mobile app are some of CoinJar's most valuable features. On the other hand, the trading costs to immediate purchase and sell of 1 percent are known to be rather pricey in this sector of the market.

When considering to buy bitcoin in Australia, you should carefully analyze the benefits and drawbacks associated with each cryptocurrency provider before making a final decision. Compliance with local authorities, deposit methods, supported currencies, security, and customer support are all important issues that should be examined.

It would appear that CoinJar is a reliable cryptocurrency exchange and wallet service since it incorporates security elements that are 'bank-like' and are designed to secure customer assets and personal information. For the highest possible level of protection, about ninety percent of user money are kept in offline wallets that are kept in secure places. According to the findings of our investigation, CoinJar has never been hacked or otherwise compromised in a way that led to the loss of digital assets.

The information of the exchange's customers is guarded by a layer of security protections comprising data encryption, Transport Layer Security (TLS), periodic security audits, and organizational security practices that are considered to be best practices.

CoinJar gives its customers the ability to convert Australian dollars into a total of 49 different cryptocurrencies, including Bitcoin, XRP, Ethereum, Litecoin, ZCash, 0x, USD Coin, Stella Lumens, Maker, Compound, Uniswap, Yearn Finance, LINK, Omise Go, Basic Attention Token, Shiba Inu, and Dogecoin. When compared to other cryptocurrency exchanges like Binance and Swyftx, which each feature over 280 different digital currencies, CoinJar's portfolio of crypto assets is extremely restricted. This is one area that has room for improvement in order to better serve astute cryptocurrency investors.

The procedure of registering for a CoinJar account is quite straightforward and can be finished in just a few minutes' time. To get started, please proceed as follows:

Pay a visit to the website of CoinJar.
Simply select the "Sign Up" option that may be found in the upper right-hand corner of the page.
Fill in both your first name and your last name.
Please enter your email address, and be sure to select a robust password.
Read the terms of service and policy agreement, and then check the appropriate boxes.
Simply hit the "Sign Up" button.
Check the validity of the email that was received to your address.

When you initially log in to your CoinJar account, you will be prompted to choose a username, submit a profile photo, pick the nation in which you currently reside, and input your mobile phone number so that you may be verified.

As an added layer of protection, you should set up and activate two-factor authentication (2FA) and SMS authentication (strongly recommended) before making a deposit of money. You may access this by heading to the "Enhanced Verification" section of the "Settings" menu on your device.

CoinJar requires that you authenticate your account before allowing you to purchase or sell Bitcoin for Australian Dollars. The procedure is made completely automated by Digital ID (Australia Post), and finishing it will just take a few minutes of your time. The following procedures need to be taken in order to authenticate your account:

You may do so by logging in to your CoinJar account.
On the dashboard, select the option to "Get confirmed now."
Choose whether you are an Individual Investor, Company Investor, or SMSF Investor (for the sake of this example, we will pick "Individual").
Simply select the "Verify with Digital ID" option (must be Australian Resident)
Upload a personnel identification document (e.g. Passport, Drivers Licence)
Please fill in your information as it appears on your identification paper.
Examine the data that's been provided.
Simply confirm your selection by clicking the button labeled "Submit"

After you have completed the account verification process, you will be able to start adding funds to your CoinJar wallet immediately. The following types of payments can be used by customers to deposit fiat cash into their CoinJar accounts:

PayID / NPP (instant deposit method)
BPAY (usually takes between 1-3 business days)
Cash deposit (typically instant)
CoinJar gives you the flexibility to transfer payments with PayID from any Australian bank account that the company supports. Osko® and NPP are two payment processors that allow PayID deposits and are accessible for usage around the clock. PayID is a more expedient manner of making payments, and the process takes only a few minutes to credit funds to a CoinJar account.

CoinJar has introduced a new payment gateway that enables users to buy cryptocurrency with their credit cards, debit cards, or other types of prepaid cards. The exchange is compatible with both Mastercard and Visa credit cards.

Through the usage of Blueshyft, CoinJar customers in Australia have access to more than 1,200 retail locations where they may buy cryptocurrencies with cash deposits. You may view an interactive map by clicking on this link, which will allow you to locate the retail location that is nearest to you that is supported. Please be aware that the minimum cash deposit is $50, and the maximum cash deposit allowed per day is $5,000.

Users have the ability to make direct deposits into their CoinJar wallets, similar to the majority of other cryptocurrency exchanges. The amount of time required to complete the deposit procedure may vary depending on the type of cryptocurrency you are sending; nevertheless, the funds should be available in your account in roughly 15–20 minutes. Transferring bitcoins might take up to an hour, depending on how busy the network is at the time of the transaction.

The CoinJar dashboard, also known as the user interface, will appear once you log in for the very first time. The left menu provides access to the navigational components necessary to check your accounts, transfer dollars or cryptocurrency, purchase and sell, and examine account settings. The accounts tab is the default dashboard, and it is here that you can view the balances of your CoinJar wallets in the 'Cash' account (AUD) as well as the balances of any crypto wallets that you have added.

We would like to bring to your attention the fact that there is no visual chart depiction of the cryptocurrency markets on which you may examine price activity, the market depth profile, or recent trades. If you put a lot of stock in technical analysis, you should probably look into using CoinJar in combination with some other cryptocurrency charting services. In a nutshell, we found the dashboard to be initially a little bit complicated, which is not ideal for novice users. We believe that the user interface of CoinJar may be simplified in comparison to that of other cryptocurrency exchanges such as Swyftx and Digital Surge, in order to better accommodate crypto newcomers who may be making their first purchase of cryptocurrency.

To purchase and sell cryptocurrency instantaneously, CoinJar levies a standard fee of 1 percent across the board for all trading assets. The fee is comparable to those of other exchanges within the sector, such as Coinspot and Elbaite, both of which charge among the highest fees. There is also the possibility of utilizing CoinJar Exchange, which has a different pricing model (as described below). There are more complex tools available, like as charts and orders, that are designed with experienced investors and cryptocurrency traders in mind.

CoinJar Exchange levies maker or taker fees between cryptocurrency and AUD/GBP pairs that start at 0 percent and 0.05 percent every trade, respectively. These costs are taken from the taker's side of the transaction. The trading charge is taken from the account balance; however, this does not impact the order's original margin in any way. Users who conduct trades for more than $10 million will be subject to costs as low as 0.1 percent.

Trading in cryptocurrency pairings such as ETH/BTC and XRP/BTC will result in fees of 0% for the taker and 0.04% for the maker. The overall trading costs on the CoinJar Exchange are relatively competitive when compared to those of other cryptocurrency providers in Australia, and there are additional trading fee reductions available for bigger volume amounts of trades.

The following methods can be used to deposit funds into your CoinJar account, each with their own associated fees:

BPAY: Free (no fee)
Free to use with PayID or NPP (no fee)
Cash deposit: 1.5 percent fee
Free cryptography (no fee)
Credit & debit card: 2 percent charge

There is no processing charge associated with withdrawals made in AUD. Withdrawals made in a currency other than AUD are subject to a charge of $20. Users need to be aware that when they withdraw cryptocurrency from an exchange, they will be subject to a network fee. This cost is deducted from the amount that is withdrawn. The load on the blockchain is what determines the amount of this charge.

In order to differentiate itself from other exchanges operating in the digital currency industry in Australia, CoinJar has introduced a number of cutting-edge goods, such as:

Swipe Card for CoinJar CoinJar Exchange CoinJar
These goods are targeted at diversifying their service offering and including new ways to get cryptocurrencies into the hands of hundreds of millions of consumers all around the world.

The CoinJar Swipe is a cryptocurrency debit card that enables users to spend their digital currency at any Australian merchant that accepts EFTPOS payments. In addition to this, you are able to withdraw cash from any ATM or retailer that has cash-out services. The CoinJar Swipe Card does not charge any costs to activate the card, no fees to process transactions, and no fees on a monthly basis.

The new cryptocurrency trading platform, which is being marketed under the name CoinJar Exchange, was developed by CoinJar. It is a distinct product from the CoinJar exchange that converts fiat currency to cryptocurrency, which has been operational for a considerable amount of time. When you want to log in to your digital currency account, you may use the email address and password that you created with CoinJar.

CoinJar Exchange is geared at traders who have a solid grasp of live cryptocurrency chart reading skills. The user interface has been modernized to provide a streamlined appearance that is both basic and tidy. Because it is relatively simple, you shouldn't anticipate any complex indications, drawing tools, or order kinds from it.

It would appear that novices are the target audience for the charting interface. It does not have the trading functionality that are standard for cryptocurrency exchanges in the climate we are operating in today. When it comes to buying and selling cryptocurrencies, the CoinJar Exchange has a fee structure that is distinct from the currency exchange.

According to the website, CoinJar protects the assets of its customers as well as the information those customers provide by utilizing a number of different strategies. These strategies include data encryption, Transport Layer Security, periodic security audits, and best practice organization security. Additionally, sophisticated methods of machine learning are utilized on this website in order to identify unusual logins, account takeovers, and financial fraud.

CoinJar protects your account from being accessed by anybody other than yourself by providing two different kinds of Two-Factor Authentication, which are as follows:

Authentication app for mobile devices
Authentication through SMS.
Apps known as authenticators, such as Google Authenticator or Authy, are downloaded and installed on your mobile devices. They do this by producing a fresh authentication code every every thirty seconds. After you have connected the app to your CoinJar account, you will need to enter the code in order to finish the process of logging into your account.

The applications have the advantage of being able to be utilized wherever that you have an internet connection; hence, they are ideal for usage when traveling or in situations in which SMS is unreliable for whatever reason. In addition to this, it is entirely encrypted, and at no time is the decryption key exposed to a third party. In contrast, short messaging service (SMS) communications are not encrypted by phone operators, and as a result, they are open to potential security risks such as port forwarding and interception.

When CoinJar requests authentication, the SMS authentication method causes your mobile device to send you a text message with a verification code. Entering the code that was delivered to your phone is all that is required of you. This improved security option does not provide the same level of protection as using the app in the manner mentioned above. SMS communications are not encrypted by phone providers, making them susceptible to security risks such as port forwarding and interception. SMS messages are not encrypted by phone companies.

According to its website, the CoinJar wallet stores at least 90 percent of their customers' digital assets in a cold storage solution. Offline and in many, secure locations throughout the globe, the hardware wallets are kept safe from prying eyes. A multisig withdrawal method is utilized by the exchange, and the processing of withdrawal requests requires the participation of numerous staff members. It is interesting to note that the exchange claims to always keep full reserves and to have sufficient assets to support customer balances and currencies.

CoinJar's customer support team maintains an extensive knowledge base on the platform, which includes how-to tutorials and responses to the most commonly asked topics. This book covers a wide range of issues, including how to authenticate your identification, how to deposit cash using a bank transfer, how to send payments using digital currency, and much more. You also have the choice to get in touch with the customer service staff directly through the use of a ticketing system. The customer care that is provided by CoinJar is, on the whole, very good, and the platform serves as a great illustration of an exchange that offers a variety of support options for its users.

Is There A Process To Verify Your Identity Before Starting Trading? On CoinJar, before you are allowed to purchase or sell cryptocurrency, you are required to authenticate your identity. When registering a new account, you will be prompted to supply some kind of personal identity. These safeguards have been put in place to prevent the exchange itself as well as its investors from being used to launder money or fund terrorist activities.

CoinJar protects the assets of its users, including Bitcoin, Ethereum, Litecoin, and any other digital currency or asset that may be kept in the wallet by providing a number of different security measures. A few examples of the safeguards that are in place to protect the funds in the wallet include data encryption, Transport Layer Security, monthly security audits, and best practice organization security. These are only few of the safeguards.

Does CoinJar Enable Investing Through SMSFs? On the CoinJar website, there does not appear to be any information on investing in cryptocurrencies through the use of a self-managed super fund (SMSF). Because this does not necessarily indicate that the exchange does not permit it, you should get in touch with the customer care team at CoinJar so that they may provide you with further information.

You may purchase and trade cryptocurrency using the CoinJar mobile phone app, which is available for both iOS and Android smartphones. The web-based version of the platform is also optimized for usage on mobile devices, making it accessible via smartphones.

CoinJar allows users to promote the exchange by inviting friends to join or by sharing their referral code on social media, in videos, articles, or ad placements through the platform's referral program. If someone uses your referral link to sign up for CoinJar and then goes on to verify their identity, they will automatically receive 500 CoinJar Rewards points. You'll gain an additional 500 points just for inviting them to join CoinJar. At the CoinJar Rewards Store, you can trade in your points for a variety of other prizes.

The CoinJar platform, which allows users to buy and sell digital currencies, is accessible to those who live in Australia. CoinJar is also a crypto exchange that is only starting to gain popularity in the United Kingdom. According to the website, CoinJar is a digital currency wallet that is available all over the world and it can be used to transfer, receive, and store cryptocurrency. On the other hand, this does not necessarily imply that investors in all countries are able to deposit funds into their CoinJar accounts because local restrictions vary from country to country.

As our review of CoinJar comes to a close, it can be stated that the exchange gives the impression of being a genuine and secure crypto provider where Australians may buy and sell bitcoin. There are certain things that might be done to make the Exchange better, such as making it easier to use, expanding the amount of coins that are supported, and introducing advanced trading tools into the platform. The one percent trading fee for immediate buy/sell orders is more than the fees charged by other exchanges, and as a result, you should avoid using this exchange because there are alternatives in Australia that are more cost effective.

CoinJar is a cryptocurrency exchange that has its headquarters in Australia and was established in 2013 by Asher Tan and Ryan Zhou. At the time of its inception, the primary mission of the company was to provide services to consumers located inside the same nation. Since that time, it has spread around the globe to other nations, including those in Europe, the United Kingdom, and a number of others.

CoinJar is a well-known cryptocurrency exchange with headquarters in Melbourne, Australia. CoinJar Australia Pty Ltd is the company that owns and operates CoinJar (ABN 75 648 570 807). Users who have a credit card or debit card can make an immediate purchase of cryptocurrency through the exchange.

You will get access to CoinJar's Bundles function after you sign up for an account with them. This tool comprises groupings of popular digital currencies that can be purchased as a bundle.

It is a one-of-a-kind feature that will be of particular use to novice crypto investors or crypto traders who are interested in passive portfolio diversification since it makes it possible to purchase a whole assortment of digital currencies all at once.

CoinJar provides customers with a bitcoin debit card that can be used to make payments for goods and services at retailers in Australia that support EFTPOS. You will receive one hundred CoinJar points for each dollar that is spent on transaction fees. These points are redeemable for cryptocurrency during subsequent trades.

It is also possible to make purchases in-store as well as online, as well as withdraw money from ATMs and get cash back.

CoinJar enables individuals and companies to engage in off-exchange, over-the-counter (OTC) transactions by supporting OTC trades with a minimum value of AUD 50,000 and a maximum value of AUD 1,000,000.

Individuals who wish to buy or sell big numbers of digital currencies without having to utilize the exchange, which may usually be more complicated and time-consuming, will find this to be an excellent feature.

Except for deposits made using BlueShift cash (which incur a 1.5 percent fee) and Instant Buys made with a Visa or Mastercard, CoinJar does not charge any fees associated with deposits (2 percent fee).

When buying and selling cryptocurrency for fiat cash, CoinJar additionally applies a conversion fee equal to one percent of the whole transaction.

When you use BPAY Biller to withdraw money from your bank account, you will be charged a fee equal to 0.5 percent of the total amount. You may incur fees if the cryptocurrency you're transferring is Bitcoin (BTC), Ethereum (ETH), or another cryptocurrency. These fees are determined by the platform's dynamic payment system.

The fact that CoinJar charges users for its services prevents me from giving it my complete endorsement, despite the fact that the platform possesses a number of beneficial and user-friendly characteristics.

Your returns on investment will be significantly lower due to the fact that buying and selling cryptocurrencies each come with a one percent conversion charge, and that instant buys come with a two percent cost (especially in larger trades, where you could lose thousands of Australian dollars in fees alone).

Because of this, rather than looking into other options, we suggest that you think about utilizing CoinSmart. The following are some more arguments in favor of recommending it over CoinJar:

The trading costs charged by CoinSmart are only 0.20 percent, making them the lowest of any cryptocurrency platform in Australia. And those savings add up quickly: if you trade $100,000 worth of Bitcoin in a given year (buying and selling $25,000 worth twice), you'll save $800 in trading fees compared to an exchange that charges 1 percent ($200 vs. $1,000) if you trade Bitcoin through a platform that charges 0.2 percent ($50 vs. $100).

Spreads, which are the difference between the buy price and the sell price, are maybe even more essential than trading costs. CoinSmart's spreads are so low that day trading is feasible, and as a result, you'll have more money in your pocket at the end of the day.

Because CoinSmart adheres to a cold storage policy of 95 percent, the company ensures that at least 95 percent of its customers' cryptocurrency is kept offline at all times. Only the most technologically sophisticated exchanges make use of this particular safety precaution, and CoinSmart is now in the front of this movement.

Since CoinSmart is also a publicly listed cryptocurrency exchange in Australia, it is subject to an exceptionally higher level of financial scrutiny in comparison to any other platform. It is subject to oversight by AUSTRAC, which stands for the Australian Financial Transactions and Report Analysis Centre, and its financial records are reviewed by independent accountants on a yearly basis at the very least.

CoinSmart provides customer assistance by phone, live chat, and email around the clock, and their customer care representatives are truly helpful rather than merely reading from a script. CoinSmart also provides customer support across the world. They are incredibly attentive via live chat and email, and I've never had to spend more than about 60 seconds on hold while trying to get help from them.

The one and only time I had a problem with CoinSmart, I phoned customer support, and within five minutes, the problem was solved. Because telephone and live chat assistance are only available to registered customers, the best way to have a question answered by CoinSmart is to sign up for an account. Keep in mind that if you have a question for CoinSmart, the best way to get it answered is to sign up for an account.

Due to the high trading costs of 1 percent, however, we are unable to suggest CoinJar as one of the best cryptocurrency exchanges to use in Australia. Instead, we suggest that you think about utilizing a program called CoinSmart. Because of its user-friendliness, high level of security, and competitively cheap fees in comparison to other cryptocurrency exchanges in Australia, we just cannot recommend CoinSmart highly enough.

A well-known cryptocurrency exchange with headquarters in Melbourne, CoinJar was launched in 2013 with the sole intention of catering to clientele located inside Australia when it was first conceived. Since then, however, it has spread around the globe, including to the United Kingdom, Europe, and a number of other nations.

If you want to get money out of your CoinJar account, all you have to do is follow these three easy steps:

To access your CoinJar account, please sign in.
Simply choose the three dots located in the upper right-hand corner of your screen.
Choose the "Withdrawal" option from the menu.
Choose the bank account that the monies you wish to withdraw are from.
Choose the connected bank account that you wish to use for the money transfer.
Enter the amount that you wish to move to the aforementioned bank account here.
To proceed, select the "Next" option.
Before moving forward, it is important to carefully go through the facts of the transaction.
A receipt for the payment you made will be sent to you as confirmation of the transaction.
Choose the "Done" option from the menu.

CoinJar is a trustworthy and reliable platform for trading cryptocurrencies. The vast majority of user cash are stored in offline wallets, which are dispersed over a number of locations all around the world. CoinJar's servers have not been compromised as of this moment either.

In addition to this, CoinJar implements industry-standard security features like as two-factor authentication (2FA), data encryption, Transport Layer Security (TLS), and third-party security reviews.

CoinJar is a reputable cryptocurrency exchange that users in Australia are free to utilize without fear of prosecution. It has the support of some of the most successful investors in the world, and it is documented in the Australian Transaction Reports and Analysis Centre (AUSTRAC), which works to prevent the laundering of funds for terrorist organizations and other illegal activities.

CoinJar's primary mission is to broaden access to digital currency and simplify its use for people from all walks of life in Australia. They were the first to do this by introducing the first debit card that could be loaded with cryptocurrencies and used everywhere that Mastercard is accepted, both online and in stores. This card could be used to buy anything anyplace that accepted Mastercard. The following are some more reasons why users opt to make use of CoinJar.

More than fifty different cryptocurrencies are supported.
Fees of one percent for instant purchase and sell transactions
When you trade on the CoinJar Exchange, you may take advantage of cheaper costs, which are 0 percent for takers and 0.1 percent for makers.
Advanced order kinds are available on the CoinJar Exchange, and some of them are "Good til Cancel," "Immediate or Cancel," and "Maker or Cancel."
CoinJar debit card, which allows you to make payments using various cryptocurrencies Mobile app that provides quick access anywhere in the world
Exchange of digital money with the longest continuous operation in Australia
Take the most advanced precautions against potential threats to your data and finances.

CoinJar's mission is to demystify cryptocurrencies and make it available to everyone. Thanks to their incredibly user-friendly design, they have been successful in achieving this aim. The interface is straightforward and easy to operate, as can be seen in the screenshot below; it is an excellent choice for someone just starting out in the world of cryptocurrencies.

CoinJar is the first cryptocurrency exchange in Australia to provide a user-friendly interface for making day-to-day purchases using one's cryptocurrency holdings. CoinJar gives its users access to a free debit card that can be used to make payments in-person or online at any location that accepts Mastercard. Using this card is identical to using cash on a traditional debit card. You won't be charged any fees to use the card, and you'll also rack up points on all of your purchases just for using it. You can easily hook it up with Google Pay or Apple Pay if you're one of the many people who no longer carries around actual credit or debit cards.

The CoinJar Exchange is a more ideal alternative for experienced traders as well as institutions because it has cheaper costs and a broader variety of trading possibilities. Users of the CoinJar Exchange have access to innovative cost structures, and the exchange offers order types such as "Good til Cancel," "Immediate or Cancel," and "Maker or Cancel." CoinJar Exchange inverts the fee paradigm, charging takers no costs at all while only charging manufacturers a fee of 0.1 percent. This is in contrast to the majority of markets, which charge a greater taker fee than a maker fee.

CoinJar is the cryptocurrency exchange in Australia that has been operating the longest, therefore the company is well aware of what it takes to stay current. One example of this is the company's mobile app. It is simple to use, provides ease to your trading, and is widely available on the iOS App Store and the Google Play stores. Additionally, it enables you to trade whenever and anywhere you choose.

There are a number different options available for adding AUD to your CoinJar account. BPAY and NPP are two payment options that do not charge a fee, whereas Blueshyft charges a fee of 1.5 percent and Visa and Mastercard charge a fee of 2 percent.

On CoinJar, a one percent transaction charge is applied while buying or selling cryptocurrencies in real time.
On the CoinJar Exchange, the costs are more reasonable, with a charge of 0 percent for takers and 0.1 percent for creators of transactions.
There are no fees associated with withdrawing AUD from your CoinJar account.

CoinJar takes data encryption, Transport Layer Security, monthly security audits, and best practice organization security very seriously. As a result, they utilize a variety of measures to safeguard user data and assets, such as these. CoinJar takes security very seriously. CoinJar even includes sophisticated machine learning algorithms to identify any unusual login activity, account takeovers, and financial fraud that may occur. You may have peace of mind knowing that your assets are protected since CoinJar holds more than ninety percent of their users' cryptocurrencies offline in a secure cold storage facility.

CoinJar's Strengths and Weaknesses

Exchange of digital money with the longest continuous operation in Australia
Over fifty and more distinct cryptocurrencies are supported.
Trading platform accessible through mobile app.
CoinJar debit card, which will allow you to spend your cryptocurrency anywhere that accepts Mastercard.
CoinJar Exchange should be used since it offers more complex order types and reduced fees.
There is no support for live chat.
No staking available

Because both their desktop site and their mobile app are simple to operate, CoinJar is an excellent choice for those who are just starting out in the world of cryptocurrencies. CoinJar's interface is designed in such a way that even novices will have no issue finding their way around. If you are a sophisticated user, you may also make use of the CoinJar Exchange, which provides superior trading choices and order types in addition to significantly reduced costs of 0 percent for takers and 0.1 percent for makers. You can find more information about the CoinJar Exchange here.

The fact that CoinJar does not provide as wide of a selection of coins as some of its rivals is one of the platform's drawbacks. As an instance, the Digital Surge cryptocurrency exchange offers service through live chat, over 300 different coins, and the lowest spreads and costs of any Australian cryptocurrency exchange. Swyftx is yet another Australian cryptocurrency exchange. It supports more than 320 different currencies, has a trading cost of only 0.6 percent, and offers a trial mode in which users may practice trading cryptocurrency using virtual currency. Take a look at this table for a quick and simple comparison of the leading cryptocurrency exchanges in Australia before you start trading. This will help you make a more informed choice before you start trading.

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Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.