CoinJar Review: Is This the Right Exchange for You?

CoinJar Review: Is This the Right Exchange for You?

While I use other platforms and offline storage as well, CoinJar is still often my go-to for quick and easy transfers and payments. CoinJar ran into a verification time snag recently as its client base expanded rapidly. The company has since tripled its support team to better streamline the verification process. Presently, verification is expected to take four to five days. CoinJar now also offers users the ability to spend cryptocurrency holdings thanks to the new CoinJar Card.

• Maker fees are charged to traders who place limit orders, while taker fees are charged to traders who place market orders.
• When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange.
• However, the “pro trading” exchange suffers from a limited selection, low liquidity and a dynamic fee structure that can result in long wait times and potentially higher than standard network fees.
• This step-by-step guide in my CoinJar review should help you get started with ease, whether you’re signing up as an individual or for an entity.
• Live support is not available, all requests are handled through support ticket submission.
• While we hope this CoinJar review has answered most of your questions, there are a few more things you might want to know.

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Despite its DDD rating by CER, CoinJar has a long history of high security with no hacks and limited downtime. For long-term investors, the Bundles option is a wonderful way to establish a consistent portfolio with a nice array of aggregated tokens that also provide DCA for those on a longer time horizon. All in all, CoinJar is quite impressive for a smaller regional offering.

With a flat 1% fee on buy and sell orders regardless of your payment method, CoinJar is very competitive in terms of affordability. There’s a 1% conversion fee between cash accounts and digital currency accounts. While fiat options are limited to AUD and GBP, users can pay a minor fee to have other currencies converted. We’re sorry to hear about the issue you’re experiencing with CoinJar.

Withdrawal Fees

If you are using CoinJar ‘s basic platform, you will not be able to find a schedule before you proceed to place a trade. You can use exchanges to trade one cryptocurrency for another like Bitcoin to Dogecoin. With CoinJar you can also exchange your cryptocurrency with fiat currency, such as the UK Pound or US Dollar.

Deposit and withdrawal fees

• Popular exchange platforms like Binance, Bybit, and Kraken may have varying minimum deposit requirements depending on the payment method and the type of account.
• But just take note that its range of tradable altcoins is slightly limited compared to other well-known cryptocurrency exchange platforms out there.
• The card also supports ATM withdrawals, so customers can use it as a primary card without worrying when they need cash.
• We’re experts in all things money, with years of combined experience working in the finance industry and writing about money.
• This loyalty program allows users to earn points through their everyday transactions on the platform.
• Whereas a maker fee applies when you set a price limit for the price you want to buy or sell at.

CoinJar offers an entire course of tutorials and exams as a means of educating users about digital currency trading as well as some of the digital currencies being offered. Taking classes also earns you certain digital currencies. All in all, CoinJar is a great crypto exchange, especially for new British crypto traders out there. Just keep in mind that CoinJar’s range of tradable altcoins is pretty small compared to other crypto exchanges out there.

CoinJar Bundles for Portfolio Diversification

CoinJar makes a solid choice for traders looking to trade crypto as it has a sleek, easy-to-use interface, signing up is straightforward, and most of its processes are simple. It offers a vast collection of cryptocurrencies to trade, and users can also earn staking rewards, among other things. Contrary to holding cash in a traditional bank, cryptocurrency is not secured under federal laws. CoinJar stores 98 percent of its users’ cryptocurrency offline in what is known as cold storage. The remaining 2 percent is meant for facilitating trading volume. The platform also has an insurance policy that protects users’ cryptocurrency holdings.

Easy to use and trustable

The trading platform is not embedded like BitOasis so it’s a bit harder to use but okay. I was very happy with the service of CoinJar and that they solved my issues. If you are referring to your account with CoinJar, please contact their support team directly to follow up. I have yet to receive a response to my email regarding unlocking my account, very disappointed with the service.

CoinJar works best particularly for active retail traders seeking to trade as well as store multiple digital currencies, as it offers an element of convenience. The platform also happens to be a viable coinjar reviews option for institutions and businesses looking to utilize digital currencies, and it allows traders to convert one digital currency to another. CoinJar is a crypto exchange platform that is based in Australia. It was established in 2013 by Ryan Zhou and Asher Tan, with the main goal the that time being to service customers within Australia.