CoinSpot vs CoinJar

Dominic Harper // December 9 // 0 Comments

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 million by 2021. It is a great platform, and makes our 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? We have done the comparison here for you so you can easily make up your own mind.

Comparison Table

Header

Coins

360+

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

360+

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

  • P R O S
  • Most secure and audited exchange in Australia
  • Over 360+ different coins supported
  • Mobile app and desktop site
  • Live Chat customer support
  • C O N S
  • No Credit/Debit cards or Blueshyft deposits supported

Pros & Cons: CoinJar

  • P R O S
  • Very easy to use, basic interface
  • Visa/Mastercard and Blueshyft deposits available
  • CoinJar Mastercard - spend your cryptocurrency in store or online
  • C O N S
  • Only 50+ cryptocurrencies
  • No Live Chat customer support

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 360+ 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 360 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 Live Chat support team, which is non-existent on CoinJar. There is a handy mobile app so you can use your mobile device to trade no matter where you are.

CoinJar's best feature that sets them apart from other exchanges is the CoinJar Mastercard. They offer a card that is totally free to use, and you can 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: CoinJar

CoinJar's Mastercard is a really cool feature that makes it stand out from the crowd. CoinSpot does not have any special features like CoinJar.

Security

CoinSpot is the only Australian crypto exchange that has been awarded the ISO 27001 certification, making it the most highly-audited and secure exchange. They are registered with AUSTRAC and are a certified member of Blockchain Australia. Their 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 360+ coins and has over 2 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.

CoinSpot
Swyftx
Digital Surge
eToro
Binance
Crypto Exchange
Crypto Exchange
CoinSpot
Swyftx
Digital Surge
eToro
Binance
Fiat Currencies
Fiat Currencies
AUD
AUD, NZD
AUD
AUD, USD, GBP, EUR & 11 more
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, LTC, XRP, BCH, ADA & 360+ more
BTC, BTG, BCH, ADA, ETH, ETC & 320+ more
BTC, ETH, BNB, ADA, XRP & 300+ more
BTC, ETH, BCH, XRP, LTC, ADA & 50 more
BTC, ETH, LTC, BNB, ADA, XRP & 600+ more
Deposit Methods
Deposit Methods
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
PayID, POLi, OSKO, Cryptocurrency
Bank Transfer, Credit card, Debit card, PayPal, POLi
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
Market order: 0.1%, Instant buy: 1%
0.6%
Market order: starts from 0.5%, Instant buy: 0.5%
1%
0.1%

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About the Author: Dominic Harper

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.

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