CoinJar is Australia's longest-running crypto exchange, established in May 2013 and has expanded into the UK. About half a million customers are on CoinJar, and they love using the simple and easy-to-use products including the mobile app and debit Mastercard. Keep reading to find out everything that CoinJar has to offer and see if it's suitable for you.
What is CoinJar?
CoinJar has a real focus on making digital currency accessible and easy to use for everyday Australians. They have pioneered this by introducing the first debit card loaded with cryptocurrency, that can be spent anywhere that Mastercard is accepted, both online and in-store. Here are some other points that make people choose to use CoinJar.
- Over 50+ cryptocurrencies supported
- Instant buy and sell fees of 1%
- Trade on CoinJar Exchange to access lower fees: 0% for takers, and just 0.1% for makers
- Advanced order types on CoinJar Exchange such as 'Good til Cancel', 'Immediate or Cancel' or 'Maker or Cancel'
- Mobile app for convenient access anywhere
- CoinJar debit card that you can use to pay using cryptocurrency
- Longest-running digital currency exchange in Australia
- Best security measures to protect your data and funds
Australian alternatives to CoinJar
CoinJar's goal is to make cryptocurrency easy to use and accessible to all, and they have managed that with their extremely intuitive interface. As you can see in the screenshot below, the platform is basic and simple to navigate, great for anyone beginning their crypto journey.
CoinJar Debit Card
CoinJar is the first Australian cryptocurrency exchange to offer an easy way to make daily purchases using your cryptocurrency. With CoinJar you can access a free debit card that you can use to pay online or in-person anywhere that Mastercard is accepted, just like using cash on a regular debit card. It is free to use the card, with no account fees, and you will even earn rewards as you spend. For those that don't carry around physical cards anymore, you can easily link it up with Google Pay and Apple Pay.
For advanced traders and institutions, CoinJar Exchange is a more suitable option, with lower fees and greater trading options. Users of CoinJar Exchange can access orders such as 'Good til Cancel', 'Immediate or Cancel' or 'Maker or Cancel', and the fees are revolutionary. Where most markets will charge a higher taker fee than maker fee, CoinJar Exchange inverts the fee model, with 0% fees for takers, and only 0.1% for makers.
As the longest-running cryptocurrency exchange in Australia, CoinJar knows what it needs to do to stay up to date, and their mobile app is an example of that. It is readily available on the iOS App Store and Google Play stores, is easy to use and adds convenience to your trading, allowing you access anywhere and any time.
Fees and Payment Methods
There are a few ways to deposit AUD into CoinJar. BPAY and NPP are two fee-free methods, Blueshyft incurs a 1.5% fee, and Visa/Mastercard will cost you 2%.
To buy or sell cryptocurrency instantly on CoinJar incurs a 1% fee.
On CoinJar Exchange, the fees are lower, with 0% fee for takers and 0.1% fee for makers.
Withdrawing AUD from CoinJar is free of charge.
CoinJar is extremely serious about their security, utilising various methods to protect user data and assets, such as data encryption, Transport Layer Security, periodic security audits and best practice organisation security. CoinJar even has advanced machine learning techniques to detect any suspicious login activity, account takeovers and financial fraud. CoinJar stores over 90% of their users' cryptocurrency offline in secure cold storage so you can rest easy that your funds will be safe.
Pros and Cons of CoinJar
CoinJar is a great exchange for those that are new to cryptocurrency, because their desktop site and app is easy to use, and beginners will have no trouble navigating the platform. If you are an advanced user, you can also take advantage of the CoinJar Exchange, which includes better trading options and order types, with much lower fees of 0% for takers and 0.1% for makers.
One downside of CoinJar is that they don't offer as many coins as some of their competitors. For examples, Digital Surge has over 300+ different coins, with Live Chat support, and the lowest spreads and fees of any Australian crypto exchange. Another Australian exchange is Swyftx, with 320+ coins, 0.6% trading fees, plus a demo mode where you can practise trading crypto using virtual money. To make a better decision before you dive in, you can have a look at the top Australian crypto exchanges here, and use the table below for a fast and easy comparison.
Frequently Asked Questions
While both are great Australian exchanges, CoinSpot has higher security, a wider range of over 360+ coins and Live Chat support. You can read our comparison of CoinJar vs CoinSpot to decide for yourself.
Yes CoinJar is safe to use in Australia. It is a legitimate exchange, and the longest-running in Australia, and has high levels of security, storing over 90% of crypto assets offline in secure locations.
CoinJar is the much better choice for Australians. Coinbase is very popular in the USA but it is not suited for Aussies because you cannot sell your crypto or withdraw AUD from Coinbase. The fees are also much higher for Coinbase when purchasing cryptocurrency.
Yes, CoinJar is Australia's longest running digital currency exchange, and is designed for Australians to use.