What is CoinJar?
CoinJar is a cryptocurrency exchange that allows users to buy and sell digital currencies. The company is based in Melbourne, Australia, and offers a wide range of currencies, including Bitcoin, Ethereum, Avalanche, Solana, and 50 others. CoinJar also offers a mobile app for trading on the go.
CoinJar's main features include its user-friendly interface, low AUD deposit fees, and strong security. The company also offers a referral program, which gives users a $10 credit for each friend they refer to the site.
CoinJar Listed Cryptocurrencies
The CoinJar cryptocurrency exchange offers 50 different digital assets which include Bitcoin, Ethereum, DeFi Coins, alternative Layer 1's like Solana and Avalanche, ad many more.
One of CoinJar's main weaknesses is that it only offers 50 cryptocurrencies to trade. This is significantly lower than other platforms like SwyftX or Binance which offer over 300 different coins to trade.
CoinJar Trading Fees
Trading on CoinJar is the most expensive in Australia when compared to other cryptocurrency exchanges. They currently charge 1% to buy or sell cryptocurrency on their platform.
Visa or Mastercard purchases are even more expensive, costing 2% per trade. The Deposit and Withdrawal fees on CoinJar are free, but it does not make up for their high trading fees.
CoinJar Bundles
CoinJar Bundles is a product that is similar to an Exchange Traded Fund or 'ETF'. It is an equally weighted basket of cryptocurrencies that helps you diversify your portfolio across different sectors within digital assets. The current CoinJar Bundles are:
- CoinJar Bundle: Top 25 cryptocurrencies on CoinJar.
- DeFi bundle: An equally weighted basked of DeFi tokens.
- Popular Duo: 50% Bitcoin and 50% Ethereum.
- ERC-20 Bundle: An equally weighted basked of NFT & Metaverse tokens.
- Green Bundle: A basket of low-carbon coins.
CoinJar App
The CoinJar iOS and Android app is one of the most popular cryptocurrency trading apps in Australia. Their mobile app allows you to buy, sell and trade crypto on the go through their sleek user interface. You can also instantly buy digital assets with a Visa or Mastercard through the CoinJar App.
Is CoinJar Safe?
CoinJar has been operating in Australia since 2013, making them one of the oldest and most trusted exchanges. Their platform also offers specialised custody & insurance for customers looking for extra peace of mind.
This extra package allows you to store your Crypto with BitGo, who are the world's largest cryptocurrency custodian. With CoinJar custody, you are covered with up to US$250 million in insurance under this premium service.
Is CoinJar a Regulated Exchange?
Coinjar is regulated in Australia by the Australian Transaction Reports and Analysis Centre (AUSTRAC). AUSTRAC regulates all digital currency exchanges that offer services to Australians. This ensures that CoinJar complies with Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) laws. As part of their regulations, Coinjar's AUSTRAC registration.
Final Thoughts
Overall, CoinJar is a solid and reputable exchange that offers easy access to the top 50 cryptocurrencies with Australian Dollars (AUD). That said, there are many other superior cryptocurrency exchanges in Australia and CoinJar definitely wouldn't be our first pick for new users.
If you are looking for alternative Australian exchanges, you can check out our CoinSpot Review or SwyftX Review.
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