CoinJar Exchange Review
CoinJar is a centralized exchange that occupies #166 on Guru InvestingExchange Tracker. CoinJar has trading volume US$2,486,128 in the last 24 hours and US$1,210,558,297 in the last 7 days.
CoinJar currently has 59 cryptocurrencies, 2 paper currencies and 280 markets (cryptocurrency trading pairs). The most popular trading pair on CoinJar is BTC/USD.
Compare CoinJar next to other exchanges here: Exchange comparison tool.
Cryptocurrency exchange CoinJar was founded in 2013 to enable Australians and residents of the region to participate in cryptocurrency trading and investing.
Although the platform is aimed at Australians, it does not prohibit users from other countries from registering. However, users from other countries should be prepared to trade with AUD as their preferred currency.. It is also important to confirm whether your country has restrictions on cryptocurrency trading before undertaking such activities.
When it comes to Know your customer (KYC) checks, the CoinJar crypto exchange takes this seriously. Users must register with their personal details and verify their identity using government-issued ID cards. This is done in order to protect the platform from intruders. The platform complies with anti-money laundering and anti-terrorist financing regulations. It is worth noting that the company is also registered in AUSTRACleading financial regulator in Australia, and UK Financial Conduct Authority (FCA).
Markets
Eat over 60 CoinJar trading pairs available on the platform. These pairs are traded on two markets – cryptocurrency and fiat. In crypto markets, the main supported coins include: BTC, USDTAnd USDCwhile currencies backed by paper markets Australian dollar and pound sterling. Moreover, spot CoinJar is the only trading option available. The platform does not support margin or leverage trading options.
The exchange has a simple trading commission system. Essentially, every time you buy or sell cryptocurrency on the platform, you will be charged a fee. CoinJar exchange fee 1%. Regarding maker and taker trades for AUD pairs, fees charged are based on the user’s CoinJar trading volume over a 30 day period.. For example, traders with a trading volume of less than 100 thousand Australian dollars pay 0.1% for maker and taker trades. As a user’s trading volume increases, trading fees also decrease. For crypto-crypto pairs, all maker trades are free, while all taker trades are charged the CoinJar cryptocurrency price of 0.6%.
In addition, the CoinJar cryptocurrency exchange charges 1% for converting cryptocurrencies into fiat money and vice versa, 2% for cryptocurrency purchases using Mastercard/Visa cards, and 2% for Apple pay and Google pay purchases. Withdrawals from physical ATMs incur a 1% card fee, while foreign transactions incur a 2.99% fee. The platform does not charge a fee for withdrawals, but there is a 1.5% fee for fiat deposits through CoinJar. Blueshift.
other services
Besides trade, CoinJar also offers an OTC trading department.which allows traders to make transactions in large volumes.
In addition, there is CoinJar Mastercard. Customers can use this full-featured Mastercard to make transactions anywhere Mastercard is accepted by exchanging cryptocurrency for AUD or GBP.
Finally, the exchange offers CoinJar Clear. It is a white label cryptocurrency solution used by companies providing financial services such as stock trading, cashback, buy now pay later and others.
About company
Asher Tan is the co-founder and CEO of CoinJar. In 2013, he saw an opportunity to combine his passions for finance and technology, creating what would become CoinJar, a line of fintech products including a cryptocurrency wallet, exchange, and credit card.
Ryan Zhou – another co-founder of CoinJar. He is a hands-on full-service engineer and financial expert. In addition to founding CoinJar, Ryan earned a Bachelor of Commerce, a CFA, and a Master of Science (Computer Science) from the University of Melbourne. He was included in Forbes’ 2018 “30 Under 30 in Asia” list.
In May 2021, cryptocurrency exchange CoinJar became the first crypto company in Australia to sponsor the Australian Football League (AFL) club, partnering with the Melbourne Demons. The company is also a partner Brentford FCpremier league football club.
In January 2023, CoinJar’s trading volume hovered around $1.5 million.
CoinJar related pages
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
