They have a strong focus on protection, both in terms of the account itself, but also how they store your crypto. It offers a user-friendly platform (website and mobile app), ideal for buying and protecting crypto – for both individuals and businesses. Yes, CoinJar charges a 0.10% maker fee and a 0.10% taker fee for trading transactions. You can use it to buy or sell cryptocurrencies with the funds in your CoinJar Exchange. No, CoinJar has a low security rating of DDD and lacks certification, penetration testing, bug bounty, and proof of funds, making it an uncertified exchange. In conclusion, CoinJar stands out as a user-friendly bitcoin-using platform that caters to the needs of both novice and seasoned crypto enthusiasts.
Trading on CoinJar: Fees, Features, and Fluidity
The platform has since expanded its services to support investors from the UK and is registered with the relevant regulatory bodies in each nation. CoinJar is a popular cryptocurrency exchange founded in May 2013 with an office located in Melbourne, Australia. Overall, CoinJar is still one of Australia’s most popular crypto exchanges and mostly lives up to this title by providing excellent services. However, compared to some of its competitors, the platform supports very few digital assets, and its flat 1% fee can quickly become costly. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. In a small number of cases this means we must request documents from customers, and sometimes we can’t disclose the specific reason for the request.
She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance. Customers can also enable 2FA and biometric login to keep their accounts secure. CoinJar’s team always maintains full reserves, with sufficient assets to cover 100% of customer balances – an important consideration given the 2022 FTX contagion. The exchange also uses a multi-sig withdrawal process with multiple staff required to process withdrawals. CoinJar Wallet uses a cold storage solution to store at least 90% of their customer’s digital assets, according to the website. According to the website, CoinJar uses multiple strategies to protect its customer’s assets and information.
How we reviewed this article
Well recently I transferred some crypto from cold wallet to Coinjar & missed one bit of tranfer info which resulted in no crypto in my account. The customer service was thorough, quick, polite and helpful. Additionally, a prosecutor talks about investigating cryptocurrency crimes in this episode of the AARP podcast The Perfect Scam. To learn more, check out the FTC’s page on cryptocurrency scams. In reality, your cryptocurrency goes straight to the scammer, and you’re not going to see it again. They’ll ask you to send cryptocurrency to them by clicking on a link or using a QR code that supposedly belongs to the celebrity.
A phone support is not possible because I am not “eligible” for that.Before I take all necessary legal steps to retrieve my substantial amount of money I deposited to their account, I would like to think that CoinJar regards this complaint as a last chance to rectify my problem.At this point I regard this CoinJar customer service as industrial substandard, but a far more sinister intention might be on the cards, so beware! This is by far the worst customer service ever…This is by far the worst customer service of any crypto exchange platform I have ever experienced. They will block you from sending your crypto to another wallet without any notice, forcing you to loose money in fees selling your crypto and sending back to you bank account to buy elsewhere. Overall, the fees are competitive, the customer support is good, it’s very well established, and they have a strong focus on protecting your crypto. There’s all the key features you’d want – but it’s not a platform for things like leverage trading (borrowing money from the exchange to trade more) – if you’re looking for that, check out all the popular advanced crypto exchanges. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website.
However, intermediate users can take advantage of the CoinJar Exchange’s much better fee structure (0.1% per transaction). Although more experienced users will appreciate the CoinJar Exchange, it is still quite simple and is probably too light on features for professional traders. It’s a different product from the CoinJar fiat-to-crypto exchange that has been established for many years. CoinJar has a partner platform dedicated to more advanced crypto traders called CoinJar Exchange. The earning system uses Compound, an Ethereum-based DeFi app that rewards customers for contributing to liquidity pools. CoinJar released CoinJar Earn in late 2022 to let its customers passively generate income on digital assets.
The customer service was thorough
We may earn a commission from links on our site, but this doesn’t affect our reviews. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. Verification can help ensure real people are writing the reviews you read on Trustpilot.
Related companies
Lots of the reviews for CoinJar mention how helpful the support team are, and how user-friendly the app is. CoinJar nonetheless has a very strong focus on platform protection, and partners with large, well established companies to hold custody of crypto in a protected manner. 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. If you want to withdraw crypto, there’s a ‘dynamic’ withdrawal fee, and how much depends on the crypto you want to withdraw, and things like how busy the crypto network is.
- CoinJar Wallet uses a cold storage solution to store at least 90% of their customer’s digital assets, according to the website.
- Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews.
- Use to use them all the time for years infact, however now every single transaction big or small needs a 48 hour min review – this is just crazy.
- Well recently I transferred some crypto from cold wallet to Coinjar & missed one bit of tranfer info which resulted in no crypto in my account.
- The CoinJar Card is one of only a few cards Australians can access, making it a de facto choice for crypto users after a local debit card.
- There’s no fee to have an account, or hold your crypto.
Protect yourself from criminals offering phony investments or the illusion of romance
I think there are more modern services available in 2025 and I suggest you seek out those institutions. Swift Fiat bank transactions seem like a flash compare to the slow cumbersome Coinjar model. People expect a prompt modern service. I can’t believe how this company treats its users-it is disgusting. We’re sorry to hear about your experience with CoinJar.
Signing up for a CoinJar account begins on their website. And with the CoinJar Card, even spending crypto elsewhere has been made easy. So we’re ready to put these claims to the test and see if CoinJar really is the novice-friendly platform it claims to be. It’s not uncommon for companies to make bold claims about their products and services. We’ll clarify whether CoinJar is a fit for your trading journey, without the fluff or hard sell. Investing in cryptocurrencies comes with significant risk.
But the customer service experience was very positive and for this alone I would recommend the platform to others. You may be contacted out of the blue by someone claiming to be an investment manager, who will promise to grow your money — but only if you buy cryptocurrency. But many people have experienced dramatic losses, some through bogus investment platforms touted by scammers as sure moneymakers. I am unable to transfer neither cash nor crypto currencies back to my bank account resp.
- Overall, the low fees and flexibility of the CoinJar Card make it one of the practical crypto debit cards available to Australians.
- With no deposit or withdrawal fee in AUD, EUR, and GBP, it seems CoinJar is making an effort to make funding wallets and bank transfer funds a user-friendly experience.
- We really like the bundles feature, where you can buy a pre-packaged group of coins in one go (saving time and money in fees).
- You are the only one who is responsible for the money you invest, and Bitcompare is not responsible for any losses you might have.
- And contacting support is useless because no one responds!
Nuts About Money
To get an idea of how well companies are looking after their customers, we like to look at TrustPilot, the popular reviews platform. These fees are very competitive, and in-line with all the preferred crypto exchanges. The fees are pretty transparent with CoinJar, and for most customers, there’s one main fee that you’ll pay when you want to make a transaction is coinjar legit – covered just below.
Or, send it to wherever you like, such as another crypto exchange, or your own crypto wallet (to further protect your crypto). You can then hold your crypto in your CoinJar account until you’re ready to sell. The actual CoinJar platform (the website and app) is super user-friendly – you’ll pick it up in no time. You don’t have to worry about an advanced interface like most crypto platforms (with all the scary charts and numbers everywhere) – you conveniently click ‘buy’.
Coinjar provided me with timely, friendly and excellent service. This means that in a small number of instances we need to ask customers about transfers without providing a reason for doing so. If what I stated is not good enough, then return my funds, I will find a better, more reliable service. Whether you’re just starting or an experienced trader, our platform is the easiest way to buy, sell, store and spend digital currency.
You have my I.d.s , my bank accounts, my passport, and there is a paper trail..So what’s the problem And how hard do u make it to just s3nd u a simple email.!! Ur support says they do not know why u r refusing to let me buy or sell or transfer funds out of Coinjar.. This means that in a small number of instances we have to close a customer account without providing a reason for doing so. I have sent many customer support messages, even a complaint form. As a result, the funds were not credited to your CoinJar account.The UK Travel Rule legislation which came into effect on 1 September 2023 and it impacts all UK residents.
CoinJar Review
Because CoinJar functions as a custodial cryptocurrency wallet and exchange, you don’t have control over the money it stores. It does not offer investment advice or demo accounts, and investing in cryptocurrencies through the CoinJar platform carries inherent risks with no protection if something goes awry. With no deposit or withdrawal fee in AUD, EUR, and GBP, it seems CoinJar is making an effort to make funding wallets and bank transfer funds a user-friendly experience. CoinJar is no exception, positioning itself as a user-friendly platform suitable for those entering the world of cryptocurrency investing for the first time. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. This lets customers access their accounts and crypto portfolios from anywhere in the world.
Users who wish to complete identity verification must do so on CoinJar’s mobile app – there’s no option to complete it on the desktop platform. Creating an account on CoinJar is incredibly easy and should only take a few seconds. One area of improvement for CoinJar could be the option for users to create their own bundles. For example, users can purchase the Popular Trio bundle, which includes Bitcoin (50%), Ether (46%), and Ripple (4%).
Among all that praise, however, are elements of buying crypto on CoinJar that may not suit certain investors. The platform’s interface is superb – modern, intuitive, and a delight to navigate. While this fee is similar to competitors like CoinSpot, it is higher than some investors will be comfortable with. Once the app is installed, though, verification should only take a couple of minutes, provided the customer has a government-issued identity document handy.
