According to data from CoinGecko, there are currently more than 600 crypto exchanges. But, rarely can a crypto exchange boast of lasting more than 5 years and having more than half a million satisfied customers. Coinjar allows Australian residents to deposit funds with a local bank card. Everyone else will need to deposit and withdraw using cryptocurrencies. The team at Coinjar have built a really simple to use the platform, which makes it perfect for inexperienced traders. Moreover, the Coinjar customer support team can only be contacted via a support ticket.

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Although Coinjar is not regulated by any notable financial bodies, the platform is registered with the Australian Transaction Reports and Analysis Centre. This ensures that the company remains fully compliant with domestic and international anti-money laundering rules. If this sounds like too much hassle, then you can deposit instantly at Coinbase with a debit/credit card, and even buy Bitcoin with PayPal.

CoinJar is an Australian-based crypto exchange platform that is very popular among crypto traders in the United Kingdom, Australia, and other regions. It acts as a trading platform for cryptocurrency enthusiasts who want to buy or sell digital assets. CoinJar is fully licensed and legally operating in these regions.

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CoinJar is a digital currency exchange that allows you to buy and sell cryptocurrencies quickly and easily. But is this crypto exchange really a safe and effective platform, or is there more than meets the eye? What you need is an honest CoinJar review that uncovers the truth about the platform.

  • CoinJar Exchange has lower fees than CoinJar and allows you to submit advanced order types (i.e., taker or maker, with some time enforced options).
  • Head to theCoinJar website, where you’ll click on the « Sign Up » link located at the top right-hand corner.
  • It appears that there was an error made in the transaction process and the transfer never took place, and it seemed as if I had lost the XRP in the « ether ».
  • To verify, users will need a passport, driver’s licence, ID card or resident permit, along with a recent document proving their address.

The trading fees are deducted from the traders’ account balances and thus do not affect the initial margin of the order placed. Users trading over a volume of $10M will have to pay a trading fee as low as 0.1%. Supports deposit and withdrawals of both cryptocurrencies and fiat money. CoinJar is a great starting point for those new to cryptocurrency, but they also have advanced features on the CoinJar exchange for seasoned investors. No matter your experience or trading skill level, CoinJar has something for you. The Knowledge Base has an array of informative articles if you run into trouble, but the site and platform have a very low learning curve.

US SEC Has Reportedly Issued a Subpoena to Influencers Promoting Cryptos Such as PulseX

This platform presents a collection of cryptos to more than 400,000 of its customers who are living in different corners of the world. However, you will be charged a 2% fee if you choose to deposit funds into CoinJar using a credit or debit card. You’ll also be charged a 1.5% fee if you decide to deposit funds through the Australian Blueshyft cash deposit system. If you choose to deposit funds with a cryptocurrency, there won’t be any fees.

Coinjar lets you store the coins that you have purchased in a Coinjar wallet, or send them to a pre-existing Bitcoin wallet. This is something that other platforms of its kind also allow, just to give the customers the liberty to work with the wallet that they are most comfortable with. Most features that the average user can need is present on the platform, with a simple and practical design. Many exchange reviews mention that the interface lacks certain features that should be present on an exchange’s website, such as some certain tools and trading history. It’s important not to rush into a decision when it comes to finding the right trading platform.

Comparison Table of the Best Crypto Exchanges in Australia

In most situations, however, users may only reach the staff through the support ticket system. Additionally, the exchange provides a crypto index portfolio to its conventional exchange-based offerings. With this feature, traders can bid on four different cryptocurrencies in one transaction. For direct withdrawals in Australian Dollars, there is no handling cost. However, for foreign or non-AUD transfers, traders pay a fixed amount of $20. Users also pay additional network fees determined by blockchain network traffic.

For cash deposits, the exchange charges a deposit of 1.5% whereas the deposit is totally free when clients make use of BPAY, Crypto, and PayID / NPP. For all the payment methods discussed above, they can also be used by clients to withdraw their accumulated profits anytime they feel the need to. The website also makes use of very sophisticated machine learning techniques to identify account takeovers, financial fraud, and suspicious logins. The CoinJar Exchange is ideal for investors and traders that know how to read and understand live crypto price charts. The interface is user-friendly, smooth, and minimal which doesn’t look intimidating to the eye at first contact.

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The exchange offers its users a free e-wallet that is built into their platform, as well as a separate payment service called CoinJar Swipe. However, the latter is only available for those who are either citizens or residents of Australia. There’s also CoinJar Touch, which is a mobile app that can be used for money transfers. Though the exchange is very transparent, comments by users online have not been particularly positive.

Review of the Best Features on CoinJar

Since May 2021, UK residents have also been able to instantly buy Bitcoin and any other supported cryptocurrency with a debit or credit card. You can link up to 3 cards to your account and most people will have a limit of £10,000 per day. The security features are also impressive compared to other exchanges.

As of now, CoinJar has over 400,000 users, and to date, over $1 billion worth of assets have been traded on the platform. CoinJar was launched in 2013 by Asher Tan and Ryan Zhou in 2013. However, in 2014, the company coinjar review shifted its headquarters to the UK. The exchange is registered in the UK and regulated by the AUSTRAC. There is no deposit fee for any of the available deposit methods on CoinJar except Blueshyft cash deposit.

Additional features

Note that the transaction cost of instant exchange is different from that of Coinjar Exchange. Trading cryptocurrency with peace of mind involves selecting the right crypto exchange. Coinjar’s outstanding security framework, together with its sleek user interface, makes it one of the best choices for Aussies. We sincerely sorry for the concerns and inconvenience caused by the time it has taken to link and verify your bank account.

CoinJar Exchange is mainly used to buy and sell cryptocurrencies directly using your CoinJar wallet. They can only trade using the market prices offered by the online portal. To have a better experience, you will need a verified account with the CoinJar Exchange. Yes, CoinJar is a legitimate Australian cryptocurrency exchange founded in 2013. It is backed by some of the world’s top investors, and is also registered with AUSTRAC to combat money laundering and financing of terrorism.

The exchange offers the Google Authentication app and the SMS authentication to this end. Coinjar sends withdrawals of less than $10 to users through standard bank transfers, but this might take about three working days to complete. Investors who join the Coinjar trader program have easy access to customer service phone lines.

Content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. After installation, the app works by creating a unique authentication key once every 30 secs. Select the appropriate document you want to use for ID verification and follow the prompts to take a picture of it. Top investors choose Coinjar’s OTC because of its one-on-one support, low prices, and customizable settlement periods. I’m actually a big CoinJar fan which may have been why I got so annoyed this morning when they suspended my account.

Spot exchange happens in spot markets between two individual traders or, in this case, exchange-based . If you’re happy depositing and withdrawing funds purely in cryptocurrency, then the Coinjar platform is accessible worldwide. At the time of writing, Coinjar does not explicitly prohibit any nations in particular, meaning the platform is available to all. On top of its traditional exchange-based services, Coinjar also offers a cryptocurrency index fund.

However, it has been registered as a UK limited company since February 2014. CoinJar is a high-quality company with an impressive array of offerings, but you’ll need to be a U.K. 3.Only with the help and the public pressure of the Trustpilot and other similar organisations they feel obliged to state publically that they will answer to you, the customer. Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.