Coinjar is Australia’s oldest crypto exchange, having launched in 2013. This well-established and reputable exchange allows Aussies to buy, sell and spend digital assets like Bitcoin, Ethereum and several others. Having seen some success after launching in the Australian market, Coinjar expanded its operations to the UK at the end of 2014. These are still the only two that the Coinjar cryptocurrency exchange is available in. This page will give an in-depth review of the Coinjar exchange, covering everything from its trading fees to its security to its customer service, and then comparing them to other Australian exchanges.
- Website: coinjar.com/
- Headquartered: Melbourne, Australia
- Trading fees: Varies
- Listed cryptocurrencies: 50+
- AUD Deposit and withdrawal fees: Free for BPAY and NPP, 2% fee for Visa and Mastercard deposits
- Deposit limit: $50k
- Fiat currencies: AUD & GBP
- Deposit Methods: PayID
- Australian-based customer service: Yes
- Features its own crypto card (powered by Mastercard)
- Easy to use app and desktop trading platform
- OTC trading desk
- Wide range of deposit methods
- Zero deposit fees for PayID and BPAY
- Limited range of cryptocurrencies
- Trading fees higher than the industry average
- Does not offer futures, leverage or margin trading
Our honest thoughts on Coinjar
We do not consider Coinjar to be the best Australian crypto exchange. After using the Coinjar trading platform and app, there are definitely a lot of positives to this exchange, however, we also found things that could be improved. The trading platform has a very nice and simple interface, making the process of buying, selling and storing crypto easy. They have a mobile app available which is useful for when trading on the go.
Coinjar’s biggest and best feature that separates it from the other Australian crypto exchanges is its own Coinjar card. The Coinjar card is powered by Mastercard and allows users to spend their crypto like cash as participating retailers, both online and in-store. We will discuss the finer details of this card later.
Unfortunately, there are a few downsides to the Coinjar cryptocurrency exchange. Firstly, the exchange only lists 30 cryptocurrencies. This may seem like a lot, but it is not compared to other Coinjar alternatives like Swyftx, Coinspot and Binance. All 3 of these exchanges list over 200 coins. Coinjar lists cryptocurrencies with large market caps like Bitcoin, Ethereum and Cardano. However, a lot of people like to invest in smaller-cap altcoins, as these are more likely to offer larger returns on investment. If this is you, then Coinjar probably isn’t the best exchange option. If you’re more risk-averse and focused solely on investing in large-cap coins, then we would recommend Coinjar.
Coinjar’s fees are higher than the industry average. For general buy and sell orders, there is a fee of 1%. If you’re looking for a cheaper exchange, then we recommend using Swyftx (0.6%), Binance (0.1%) or Digital Surge (1%).
|Exchange Website||Cryptocurrencies||Fees||Supported||Visit Website|
|330+||0.6%||AUD, USD & NZD||Join Swyftx|
|250+||Varies||AUD, USD, GBP & more||Join Crypto.com|
|280+||0.5%||AUD||Join Digital Surge|
|400+||0.1%||AUD, USD, NZD & GBP||Join Binance|
|140+||Varies||USD, NZD & GBP||Join Coinbase|
|50+||Varies||AUD & GBP||Join Coinjar Exchange|
|40+||0||USD, GBP & more||Join Nexo|
What is Coinjar?
Coinjar is an Australian based exchange. Having launched in 2013, Coinjar beat Coinspot to be Australia’s first-ever crypto exchange. It was founded by Asher Tan and Ryan Zhou whose vision was to create a place where Aussies could buy Bitcoin with peace of mind knowing that the company was based in Australia.
The Coinjar exchange allows users to buy and sell crypto and also spend it using their own crypto card. Since launching, it has extended to the UK, allowing residents to deposit GBP to buy crypto.
Is Coinjar safe?
Coinjar has made a strong commitment to ensure that their customers can buy and sell crypto in a safe environment. They employ a number of advanced security measures to protect user accounts from scammers, hackers and bad actors online.
Coinjar is an AUSTRAC registered exchange that employs the following security measures:
- Data encryption
- Transport layer security (TLS)
- Periodic security audits by a third party
- Breached login detecting
- Two-Factor Authentication (2FA)
It’s these security practices and Coinjar’s reputation, that we consider Coinjar to ve a very safe option of trading and storing digital currency.
Coinjar features and benefits
A lot of Australians use Coinjar for a number of reasons. They have a number of key features which improve the trading experience of its users. Below we have provided insight into a number of features offered by Coinjar:
iOS and Android apps
Coinjar has its own fully-featured app available on both iOS and Android devices. Choosing an exchange that features its own app is very important. In our experience, trading crypto, it is very convenient to do it from your mobile device, rather than logging onto your computer. The Coinjar app has all the features of its desktop trading platform. Users can buy, sell and trade cryptocurrencies as well as view integrated charts and monitor price movements of coins. The app has biometric authentication which adds an additional layer to its security.
Trading fees and spreads
The Coinjar fee structure listed on their website can be quite confusing. If you’re looking to place an instant buy or sell order (most common order), then there is a fixed trading fee of 1% for these trades. On the other hand, trading fees are also determined on your 20-day trading volume and whether you’re a maker or a taker.
A maker creates a buy or sell order that isn’t carried out straight away, thus creating liquidity for others to buy and sell instantly. Takers are the people that buy or sell immediately. Here is a breakdown of the maker/taker fees on the Coinjar exchanges:
|Tier of trade||Taker fee||Maker fee|
|Crypto to crypto||0%||0.5%|
|$0 to $10,000||0.20%||0.15%|
|$10,000 to $100,000||0.15%||0.12%|
|$100,000 to $1 million||0.12%||0.10%|
|$1 million to $10 million||0.10%||0.08%|
|$10 million +||0.08%||0.05%|
The instant buy/sell trading fee of 1% is higher than other Australia crypto exchanges like Swyftx (0.6%), Digital Surge (0.5%) and Binance (0.1%). Coinspot also has a trading fee for instant buy and sell orders of 1%.
Coinjar only lists 30 cryptocurrencies which is limited compared to other exchanges. Cryptocurrencies listed on the Coinjar platform include top 10 crypto assets by market cap like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL) Tether (USDT) etc. It also lists altcoins like Synthetix (SNX), Compound (COMP), AAVE, EOS, Polygon (MATIC), Basic Attention Token (BAT) and more.
They rarely add to their existing list of assets, so it is clear they are targeting customers looking to invest in more well-known and reliable digital assets. Other exchanges like Coinspot, Swyftx and Binance list hundreds of cryptocurrencies.
Coinjar does not have an online live chat or customer support team to instantly assist with customer queries. Instead, customers can file a support ticket via email. Unfortunately, if you have an urgent question or concern that needs to be addressed urgently, the Coinjar team can take up to 24 hours to respond to support tickets. VIP customers can use Coinjar’s direct phone line to chat with a customer service representative during business hours.
If you have any questions about Coinjar’s trading platform or app, you can visit their support page which provides a number of answers to these questions.
Coinjar crypto card
Coinjar has released its own card, called the Coinjar Swipe card. This is one of the most exciting and innovative components of the Australian exchange. This is the first crypto card of its kind in Australia and it can be used to buy goods and services all around the country. The card is supported by Apple Pay and Google Pay which means you can tap it from your phone. Alternatively, you can request the real thing, which can be used to tap, insert and swipe your crypto holdings anywhere that Mastercard is accepted.
Any Coinjar customer can request the Coinjar card and it’s completely free to set up. Simply open the Coinjar mobile app and tap the card icon. Next, pick a cryptocurrency that will be used as your spend account. When this is done, you can tap, insert or swipe your crypto to pay for goods and services.
Keep in mind, small fees apply when you pay with your crypto or withdraw it.
Coinjar offers a number of bundles that allow customers to diversify their portfolio with a number of different cryptocurrencies. Coinjar does not allow you to change the ratio of the bundle. The most popular bundles on their exchange include:
- Popular Duo – 50% BTC, 50% ETH
- Popular Trio – BTC, ETH, XRP
- Stable Bundle – USDC, DAI
- Stellar and XRP Bundle – 50% XLM, 50% XRP
- ERC20 Bundle – All ERC20 tokens available on Coinjar
Coinjar withdrawal fees
Coinjar charges zero fees for withdrawing AUD from your account to your bank account.
How to sign up and trade on Coinjar
If you would like to open a Coinjar account and start trading the 30 cryptocurrencies listed on their exchange, then simply follow the steps detailed below.
Step 1: Create an account
Click the link at the top of this page to take you to Coinjar’s signup page. You’ll be required to enter your full name, email address and create a secure account
Step 2: Verify your email
In order to activate your account and start trading, you’ll need to verify your email address. You can verify your email address by inputting the code sent to your email.
Step 3: Provide further details
Next, you’ll need to provide a couple more details like your phone number and country of residence. You’ll be sent a code via SMS. You’ll need to provide this code to verify your phone number.
Step 4: Deposit funds
Now that your account is activated, you’ll need to deposit Australian dollars (AUD). You can deposit funds via a number of payment methods including bank transfer, OSKO, PayID, BPAY, Blueshyft.
Alternatively, you can deposit crypto from an external wallet into your Coinjar account. Simply, navigate to the page of the crypto asset you’d like to deposit. Click on the ‘ actions’ box to get the public address of this wallet. This public address is what you’ll need to provide when withdrawing from your external wallet to your Coinjar wallet.
Step 5: Buy crypto
Once the funds have arrived in your account, you can then buy crypto instantly.