If you have ever typed the words "Australian cryptocurrency exchange" into Google, there is no doubt that the name CoinSpot will have popped up. As one of the original crypto exchanges, established in 2013, it has grown its number of users to over 2.5 million. It is a great platform, and makes my list of the best Australian crypto exchanges, but how does it compare to a lesser-known exchange called CoinJar, which is actually the longest-standing exchange in Australia, established in May 2013? I have done the comparison here for you so you can easily make up your own mind.
Comparison Table
Header |  |  |
|---|---|---|
Coins | 410+ | 50+ |
Trading Fee | Market: 0.1%, Instant Buy: 1% | 1% |
Deposit Fee | Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5% | BPAY: Free, NPP: Free, Blueshyft: 1.5%, Visa/Mastercard: 2% |
Withdraw Fee | Free | Free |
Payment Methods | Bank transfer, OSKO, BPAY, POLi, PayID, Cash Deposit | BPAY, NPP, Blueshyft, Visa/Mastercard |
Features | - Live Chat support - Most secure and trusted exchange in Australia | - Spend your crypto by loading it onto a CoinJar Mastercard - Simple interface that is easy to use |
Cell |
Header | | |
|---|---|---|
Coins | 410+ | 50+ |
Trading Fee | Market: 0.1%, Instant Buy: 1% | 1% |
Deposit Fee | Bank transfer, POLi, PayID, OSKO: Free; BPAY: 0.9%, Cash: 2.5% | BPAY: Free, NPP: Free, Blueshyft: 1.5%, Visa/Mastercard: 2% |
Withdraw Fee | Free | Free |
Payment Methods | Bank transfer, OSKO, BPAY, POLi, PayID, Cash Deposit | BPAY, NPP, Blueshyft, Visa/Mastercard |
Features | - Live Chat support - Most secure and trusted exchange in Australia | - Spend your crypto by loading it onto a CoinJar Mastercard - Simple interface that is easy to use |
Cell |
Pros & Cons: CoinSpot
Pros & Cons: CoinJar
Fees
CoinSpot has free deposits if you use Bank transfer, POLi, PayID and OSKO, but to deposit using BPAY is 0.9% and via cash deposit is 2.5%. Withdrawing your AUD is free of charge. When you purchase or sell crypto instantly there is a 1% fee, but if you trade on the market, you can access low fees of only 0.1% per transaction. However, you are only able to trade 14 different coins on the market.
CoinJar has free deposits via NPP and BPAY. If you prefer to deposit using Blueshyft there is a 1.5% fee and if you pay with Visa/Mastercard it will cost you 2%. Withdrawing AUD from the exchange is free. Buy and sell fees on CoinJar are 1%.
Fees Winner: Tie
There is not much difference between CoinSpot and CoinJar in terms of fees. They both charge 1% on buy/sell transactions, and they both offer some fee-free deposit methods.
Number of Coins
CoinSpot has the widest range of coins of any Australian exchange, with over 410+ cryptocurrencies.
CoinJar offers a limited selection of 50+ different cryptocurrencies.
Number of Coins Winner: CoinSpot
CoinSpot has the largest collection of cryptocurrencies on an Australian exchange, with more than 410 coins, while CoinJar only has 50+ different coins available.
Features
CoinSpot is one of the go-to cryptocurrency exchanges for beginners because it is easy to understand and navigate. You can easily purchase and sell crypto with the instant buy/sell feature, even if you have no previous experience. If you need any assistance you can easily access it with the responsive 24/7 Live Chat support team, which is non-existent on CoinJar. There is also a handy mobile app so you can use your mobile device to trade no matter where you are.
CoinSpot also offers an NFT marketplace which makes it easy to join in on the NFT craze. It is really easy to use, as you can view NFTs straight from your CoinSpot account, and pay in any cryptocurrency you choose.
CoinJar's best feature that sets it apart from other exchanges is the CoinJar Mastercard. This debit card is completely free to use; you load it with your cryptocurrency and pay for goods and services both online and in-person. You can even earn rewards when you use your card to spend crypto, and it is compatible with Apple Pay and Google Pay, so there's no need to carry your physical card.
Features Winner: CoinSpot
While CoinJar's Mastercard is a really great feature that makes it stand out from the crowd, CoinSpot offers more features such as NFT marketplace and 24/7 live chat support.
Security
CoinSpot is the first Australian crypto exchange to be awarded the ISO 27001 certification, making it the most highly-audited and secure exchange. CoinSpot is registered with AUSTRAC and is a certified member of Blockchain Australia. The security protocols include 2FA, custom withdrawal restrictions, anti-phishing phrases, geo-lock logins, session timeout settings, and cold storage of the majority of their crypto assets.
CoinJar also uses various methods to keep their users' funds and information safe, implementing data encryption, Transport Layer Security, periodic security audits and best practice organisation security. They store over 90% of digital assets in cold storage offline to prevent cybercriminals stealing their cryptocurrency.
Security Winner: CoinSpot
Although both crypto exchanges are extremely safe with many security measures in place, CoinSpot wins this one as it has the additional ISO 27001 certification.
Overall Winner
Although CoinJar and CoinSpot have both been around since 2013, CoinJar hasn't expanded like CoinSpot has. CoinSpot offers over 410+ coins and has over 2.5 million users, while CoinJar (see review) is not as popular among Australians.
The winner in my eyes is CoinSpot (read full review here), but if you are still doing your research before committing, then I recommend you read this article on the best crypto exchanges in Australia (see here). I have also placed a comparison table below where you can have a look at the most important info about the best crypto exchanges.
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