Coinjar Exchange Review: Fees, Pros, Cons & Features Read This Before Investing

Coinjar Exchange Review: Fees, Pros, Cons & Features Read This Before Investing

Being able to see my portfolio and also my key currencies immediately is all I want, and these details sit front and centre on the app. When communicating with support, I’ve had quick and smart responses. Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape. Still, CoinJar continually adds new cryptocurrencies, strengthening its stance as a coinjar review top Australian crypto exchange.

This is a high‑risk investment and you should not expect to be protected if something goes wrong. To get an idea of how well companies are looking after their customers, we like to look at TrustPilot, the popular reviews platform. That means they have to follow strict rules to ensure that your account with them is not exposed to financial crime. Unfortunately, if you buy directly with a card (e.g. a visa or mastercard), you’ll pay a 2% fee, and the same via Apple Pay and Google Pay. CoinJar is set up to make it as convenient as possible to buy crypto (and hold it too). You can deposit your money (called fiat or local currency), and within a few seconds you can have crypto in your account.

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• Or, send it to wherever you like, such as another crypto exchange, or your own crypto wallet (to further protect your crypto).
• They also regularly conduct external audits to ensure the integrity of their security is intact.
• Therefore, it’s crucial to select a platform that you can count on to keep your data safe.
• If users wish to make full use of the CoinJar platform, they must verify their identity.
• This type of exchange has advantages and disadvantages, as they can provide excellent security features and reliability but have a reputation as a more expensive option.
• It’s a great option for those looking to conveniently buy crypto and hold it (for as long as they like), and for those potentially looking to trade frequently.
• Before you can get started trading on CoinJar, you’ll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).

Similarly, Euro deposits and withdrawals via the SEPA network are also free. Therefore, although CoinJar provides a robust trading platform for users in Australia and the UK, its limited regional support is a significant drawback. This emphasizes an area where the platform could expand and improve to better compete with exchanges that support global users. For many crypto enthusiasts, being able to diversify their portfolio across a wide array of digital assets is crucial.

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• In our CoinJar review, we found that overall CoinJar is a reliable and secure cryptocurrency exchange platform that offers a wide range of features, including a mobile app, low fees, and a rewards program.
• This might be a downside for experienced traders looking for advanced trading features and a wider variety of options.
• CoinJar offers a ticket system for users having issues with the platform but does not offer live chat support.
• Although cryptocurrencies provide anonymity, signing up for an exchange still involves giving that company some sensitive data.
• This unlocks additional features such as bank transfers and the use of the CoinJar Card.

CoinJar’s Compliance Team will review your application, which typically takes up to five business days. Let’s discuss a step-by-step guide to help you sign up for your personal account and for entities like companies, SMSFs, or trusts. Furthermore, you can also add your CoinJar Card to Google Pay or Apple Pay.

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However, its range of tradable altcoins is quite small compared to other Australian crypto exchange competitors out there. For Australian traders who are just starting out with crypto, CoinJar is a solid choice. But if you’re more on low fees, then Swyftx (0.6% fees) and Digital Surge (0.5% fees) might be a better choice for you. This feature is crucial for users with busy schedules or who need to monitor their portfolios closely. The application supports the full functionality of the CoinJar exchange and supports fingerprint and face authorization to maximize security.

Deposit & Withdrawal Fees

As a smaller market on the global scale, Australia isn’t always at the forefront of cryptocurrency exchanges. Thankfully, CoinJar provides Australian investors with a comprehensive exchange and competitive fees. Its expansion into the UK and soon-to-be United States is also promising.Granted, CoinJar isn’t nearly as robust as some of the larger exchanges in the space, like Binance or Coinbase. CoinJar’s mission is to simplify the digital currency experience for everyone, from beginners to seasoned traders.

Transaction Fees

The platform supports deposits and withdrawals in fiat currency, but these options are limited to Australian residents exclusively. Although initially targeting those new to crypto, the exchange now also offers a range of advanced trading features, such as charting software and different order types. The exchange can be used via both desktop and mobile applications, and users can top up accounts using both card or bank transfers.

When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. Australian users benefit from free deposits via PayID, Osko, and NPP, which simplify the process of moving money between their bank accounts and CoinJar. Standard bank transfers for AUD are also free, making this platform a convenient choice for Australian crypto enthusiasts. Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.