In this CoinJar review, we explore one of Australia’s oldest cryptocurrency exchanges, founded in 2013. CoinJar stands out for its beginner-friendly interface, low bank transfer fees, and unique CoinJar Card, which lets users spend cryptocurrency like traditional currency.
Primarily catering to users in Australia and the UK but looking to expand to the USA, Ireland, and some other countries soon, CoinJar provides a seamless entry point into crypto trading. But how does it stack up regarding features, fees, and security? Read on to discover if CoinJar is the right platform for you.
Our verdict on CoinJar exchange
CoinJar is a solid choice for beginners entering the world of cryptocurrency. Its simple user interface, low-cost deposits, and CoinJar debit card make it an attractive option for those who want to trade or spend their crypto seamlessly. However, for advanced traders, CoinJar lacks features such as margin trading or crypto futures contracts, which might push them to seek more feature-rich platforms.
CoinJar’s payment methods are quite versatile; they encompass bank transfers and credit or debit cards alongside free bank deposits in AUD and GBP. The CoinJar app is intuitive, offering easy navigation across desktop and mobile platforms, thus allowing users to manage their wallets and transact effortlessly.
For beginners, CoinJar excels because of its integrated privacy-focused crypto wallets and straightforward trading experience. However, experienced traders might find the absence of advanced features—like margin trading—and a limited selection of cryptocurrencies (68+ coins) disadvantageous. Although the app presents a user-friendly interface, this could be perceived as a drawback for those seeking more robust tools.
Regarding customer service, CoinJar mainly offers email and ticket support, which is a significant drawback for users desiring live chat or immediate replies. However, CoinJar’s robust security features alleviate these limitations: the cold storage of 90% of user funds bolsters its reliability and trustworthiness.
Pros and cons of CoinJar exchange
Pros
- Supports 68+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), offering a solid selection for beginner investors.
- Free AUD and GBP bank transfers for deposits and withdrawals, making it cost-effective for users in Australia and the UK.
- CoinJar Card allows users to easily spend their cryptocurrency as fiat, providing added flexibility for everyday transactions.
- The user-friendly interface makes it easy for beginners to start trading without a steep learning curve.
- 90% of user funds are held in cold storage, which provides strong security measures to protect against hacking and fraud.
Cons
- No margin or futures trading, limiting advanced features for experienced traders looking to leverage positions.
- There is a 2% fee on debit/credit card deposits, which can add up quickly for users who rely on card payments.
- Limited customer support options, with help only available through email and ticketing—no live chat or phone support.
- There is no spot market, meaning slightly higher prices compared to traditional exchanges that offer real-time market prices.
What is CoinJar?
CoinJar is an Australian cryptocurrency exchange and app that lets you buy, sell, and spend digital assets with a layout that feels close to online banking. It is built for everyday users who want a simple way to move between cash and crypto, while still giving more active traders access to a dedicated exchange interface.
The platform supports a mix of popular coins, recurring purchases, crypto Bundles, and a prepaid Mastercard called CoinJar Card, which connects your crypto balance to everyday spending.
About CoinJar
CoinJar was founded in Melbourne in 2013 and is one of the longest-running exchanges in Australia. Over the years, it has grown from a local Bitcoin service into a global platform with more than 600,000 users and billions of dollars in trading volume behind it.
The company is registered with AUSTRAC in Australia and was among the first crypto firms to gain approval from the UK Financial Conduct Authority. In the United States, it is registered as a Money Service Business and is rolling out services state by state, currently covering a limited but growing list of regions.
Regarding security, the exchange keeps over 90% of customer assets in offline cold storage. Since its launch in 2013, CoinJar has not reported any major hacks or security breaches, which is one of the reasons it is often viewed as a relatively conservative choice in the Australian market.
Supported countries and fiat currencies
CoinJar is currently available in Australia, the United Kingdom, and 20 states in the United States. Regarding supported fiat currencies, the platform accepts:
• Australian dollar (AUD)
• British pound (GBP)
• Euro (EUR)
• U.S. dollar (USD)
However, your available funding methods and default currency depend on your country of residence.
Supported cryptocurrencies
CoinJar lists around 60 cryptocurrencies, offering a curated mix suitable for most everyday traders. Among them are top coins like Bitcoin (BTC) or Ethereum (ETH), major altcoins like Cardano (ADA) or Tron (TRX), stablecoins like Tether (USDT), and memecoins like Dogecoin (DOGE) or Shiba Inu (SHIB).
On the other hand, CoinJar does not offer certain popular assets, such as BNB, which may be a drawback for some traders.
Since then, the company has expanded to the UK and continues to work on its entry into other markets. In 2023, CoinJar started getting state-by-state licensing in the United States, ensuring its operations complied with the legislation to cement its international presence further.
Payment methods and ways to fund your account
CoinJar supports several ways to move money in and out of your account, including the following ones.
- Local bank transfers: In Australia, you can fund your account with PayID, Osko, or a standard bank transfer. In the UK, you can use Faster Payments. These deposits are usually credited quickly, and withdrawals back to the same bank account are free, which makes this the most cost-effective way to move larger sums.
- Card payments and mobile wallets: If you prefer speed, you can buy crypto using Visa or Mastercard, or pay through Apple Pay and Google Pay. Funds appear in your CoinJar balance almost instantly. The trade-off is cost, since card and mobile wallet deposits carry a higher fee than bank transfers.
- SEPA, ACH, and wire transfers: European users can add funds through SEPA, while U.S. customers can use ACH or traditional wire transfers. ACH is generally the cheaper choice and suits regular deposits. Wire transfers are better for larger amounts, although they take longer to arrive and usually involve a fixed bank fee on each transfer.
- BPAY (in Australia): Australian customers who like using cash or bill-style payments can deposit through BPAY. This option is convenient if you already pay bills that way, although processing times are slower and there is an extra fee compared with PayID or Osko.
- Cryptocurrency: You can also move funds in and out using crypto itself. Depositing supported coins into your CoinJar wallet is free on the exchange side. When you withdraw, you pay the standard network fee for that asset. Each blockchain has its own confirmation time, and CoinJar shows the details before you confirm a transfer.
CoinJar exchange fees
CoinJar offers a straightforward fee structure, making it appealing to both beginners and experienced cryptocurrency traders.
In particular, the platform’s competitive bank transfer fees stand out. However, card payments come with a higher cost than some competitors.
Deposit and withdrawal fees
| Deposit | Withdraw | |
| Bank account | Free | Free |
| Debit card | 2% | N/A |
| Credit card | 2% | N/A |
| PayPal | Not Supported | Not Supported |
Trading fees
| Buy (taker) | Sell (maker) | |
| Instant purchase | 2% | 2% |
| Spot market | 0.06%–0.1% | 0.02%–0.1% |
| Futures | N/A | N/A |
CoinJar trading products
CoinJar keeps its trading setup fairly simple. These are the main ways you can place orders and manage positions on the platform.
- Brokerage – The main app works like a brokerage. You choose a coin, select your currency, and buy or sell at a simple flat fee. More than 60 cryptocurrencies are available, minimum trades start low, and you can also swap one coin for another inside the app.
- CoinJar Exchange – CoinJar Exchange is the order book side of the platform. Here you can place market or limit orders, see the depth of the market, and pay maker or taker fees instead of a flat brokerage fee. This option is aimed at users who want more control over price and execution.
- Institutional and OTC services – Larger traders and businesses can apply for institutional access. This includes API connectivity, CoinJar Clear for embedding crypto purchases into other products, and an OTC desk for block trades that need more discreet execution and tailored quotes.
CoinJar key features
CoinJar offers a range of features designed to cater to beginners and more experienced cryptocurrency users.
Below, we’ve outlined some of the platform’s standout tools and services:
| Feature | Description |
| Wallet | Built-in wallet to store, send, and receive supported cryptocurrencies. Simple to use and suitable for everyday asset management. |
| Bundles | Buy a small basket of cryptocurrencies in one transaction. Helps diversify quickly without choosing individual coins. |
| Recurring buy | Set automatic purchases on a weekly, fortnightly or monthly schedule to follow a steady dollar-cost averaging plan. |
| CoinJar rewards | Earn loyalty points through regular activity and redeem them for discounted trading fees. Useful for frequent users. |
| CoinJar debit card | Spend your crypto through a prepaid Mastercard linked to your CoinJar balance. Works with Apple Pay and Google Pay for everyday purchases. |
| CoinJar SMSF | Supports crypto investing through Australian SMSFs, allowing users to add digital assets to their retirement strategy while staying compliant. |
| CoinJar Exchange | Advanced spot trading interface with lower fees and full market and limit order support, designed for users who want more control. |
Is CoinJar safe?
CoinJar has implemented many security measures to safeguard users and their capital. Here is an overview of the various security and compliance features that CoinJar entails:
- Security: User safety is a priority for CoinJar, with 90% of user funds held in cold storage, meaning that online threats cannot compromise wallets. Additionally, CoinJar uses 2FA to add another layer of protection to a user’s account.
- Insurance: Unlike other platforms, CoinJar does not explicitly offer insurance coverage for user funds in case of a hack or breach. This could concern users looking for additional protection beyond standard security measures.
- Proof-of-Reserves: CoinJar has not yet provided a proof-of-reserves system, allowing users to verify that the platform holds enough assets to cover customer balances. This transparency feature is becoming increasingly common on other exchanges and is something users might want to keep in mind.
- Past Hacks: Since 2013, CoinJar has kept a clean security record, with no known hacks or significant breaches. This only adds to its reputation as a trustworthy platform in the cryptocurrency space.
- Legal Issues: CoinJar is fully compliant with local regulations. It is registered with AUSTRAC in Australia and with the FCA in the UK. As a result, the exchange has to follow strict financial standards and AML requirements in both markets. This makes CoinJar quite reliable for users in these regions.
- Reputation: In a decade of operation, CoinJar has carved a name for itself. With its staunch commitment to regulatory compliance, focus on security, and ease of use, it’s little wonder this platform is favored by rookie and experienced traders alike.
CoinJar app review
CoinJar’s mobile application is iOS- and Android-friendly; it offers a very intuitive and clean interface, mirroring the functionality of its desktop platform.
It allows users to buy and sell cryptocurrencies easily, look up market prices, and manage their CoinJar Card. The app is user-friendly and ideal for more novice users, though more advanced traders might feel limited without access to detailed charting tools and deeper trading options.
That said, the app’s ease of use and seamless compatibility with the CoinJar ecosystem make it a great tool for daily crypto management on the go.
User ratings of CoinJar
| Rating | Number of reviews | |
| Google Play | 3.5 | 1.7K+ |
| Apple Store | 4.7 | 14K+ |
| Trustpilot | 4.2 | 2.4K+ |
CoinJar customer satisfaction
User reviews for CoinJar are generally positive, particularly highlighting the platform’s ease of use and the convenience of the CoinJar Card.
The simplicity of transactions and intuitive interface are major benefits for beginners. One Apple App Store user said:
“[CoinJar is] Simple and easy to use for anyone getting into crypto. All transactions are very easy and fast.”
However, some users report issues, especially concerning delays in accessing funds. A Trustpilot user shared their frustration on this subject:
“They hold any deposit from FIAT for 7 days before allowing you to access your own cleared funds.
”Overall, user sentiment is favorable, though advanced traders may find the feature set limited.
Customer support
CoinJar offers customer support via email and a ticket-based system. However, neither live chat nor phone support is provided, which may be inconvenient to some users.
Though the help center is relatively broad and covers many topics, response times can be slow for more complex queries. This lack of real-time support could be frustrating for users who need urgent assistance.
On the other hand, clear guides and resources on common issues can be found within the platform.
How to contact CoinJar customer support:
✔ Support Ticket
✔ Help Center
How to sign up on CoinJar
Signing up for CoinJar is a beginner-friendly process. Here’s a guide to help you get started in a few steps:
Step 1: Visit the CoinJar website and register
The first thing you will need to do is visit CoinJar’s official website or download the app. Click the “Register” button, enter your email or cell phone number, and create a secure password.
Step 2: Verify your email or phone number
After the previous step, CoinJar will send you a verification link or code via SMS or email. Click on the link or enter the code to verify your account and proceed with registration.
Step 3: Create a username and select your country
After verification, you will be asked to create a CoinJar username and confirm your country of residence. This ensures that you have access to relevant services, such as local payment methods.
Step 4: Verify your identity (KYC)
For regulatory purposes, CoinJar requires new users to complete Know Your Customer verification to use the account’s features fully. KYC usually includes:
- A government-issued photo ID (passport, driver’s license, or ID card).
- Proof of address through a utility bill, bank statement, or similar document.
- You may also be required to take a selfie.
This process is completed entirely through the CoinJar app. It generally takes just a few minutes, though, depending on volumes, it may take longer.
Step 5: Link your bank account and start trading
Once KYC is approved, one can connect their bank account and fund the CoinJar account via bank transfer or card. Once you have funded your account, you will be allowed to trade cryptocurrencies like all the rest.
Final thoughts
Taken as a whole, CoinJar brings together tools that make everyday crypto use simple. The app is easy to navigate, local deposits are fast, and features like Bundles and Recurring Buy help users follow a steady investment plan without much effort. The CoinJar Card also adds real convenience by letting people use their crypto balance for regular payments, something many platforms still struggle to offer smoothly.
CoinJar has been operating for over a decade under Australian and UK regulations, and now serves users in a growing number of US states as well. Its long security record has helped it earn trust among people who prefer a platform they can return to often without having to relearn how everything works.
For users in Australia, the UK, and select parts of the United States, CoinJar offers a clear and reliable way to start and maintain a simple cryptocurrency strategy.
How We Rate Cryptocurrency Exchanges
We manually review the crypto exchanges on our list. Below are the key metrics we check before listing a crypto exchange on the website. For further details, you can also take a look at our cryptocurrency exchanges rating guide, featured on ValueWalk.
