CoinJar Review Is CoinJar Scam or Legit?

Once you’ve transferred your coins over to Coinjar, your account should be credited within about 10 minutes. Before you can proceed to the next stage of the account set-up process, you’ll first need to verify your email address. As with any asset, the values of digital currencies may fluctuate significantly…. The traded price of digital tokens can fluctuate greatly within a short period of time….

More specifically, CoinJar is tailored towards investors who are new to crypto and want an easy way to dabble in the market. CoinJar isn’t a bad choice for Aussie crypto investors, it has some enviable features, like the CoinJar card and the ability to deposit using Visa and Mastercard. However, we think the lack of cryptocurrency choice (only 50+ coins available) and the higher transaction fees push us towards other options.

They can have sophisticated websites and user dashboards to make it seem as if your investment is seeing huge profits. But when you try and withdraw your money, it turns out it was only ever numbers on a screen. Claim your profile to access Trustpilot’s free business tools and connect with customers.

  1. These include Digital Currency Group, BlackBird Ventures, and Boost VC.
  2. It’s worth mentioning that as an Australian, you’re not limited only to Australian-based crypto exchanges.
  3. However, not all Australian banks support it yet, so you might want to check if your bank is part of it.

Upon establishment, the CoinJar exchange platform based its headquarters in Melbourne, Victoria where it monitors and oversees the entire trading services it offers investors. Go to ‘Accounts’ and choose the cryptocurrency that you want to deposit. If you want to transfer Bitcoin for instance, choose ‘Everyday Bitcoin’ and click on ‘View address’.

Furthermore, the exchange platform also mentions that it preserves and controls all reserves at all times, with enough assets to underwrite customer currencies and balances. The issue of security has always been a major concern in the crypto industry as the widespread fraudulent activities and cyberattacks have come to be a menace. Being security conscious is no longer a choice as a little mistake either from an exchange platform or the investor can result in loss of funds and personal sensitive data. BPAY is also available, but funds can take up to 3 business days to clear. CoinJar is one of the few exchanges that accept credit card and debit card deposits, although American Express is not supported. Thankfully, there are many Visa and Mastercard cards that earn rewards points.

CoinJar Mobile App

CoinJar supports 42 different crypto assets, including several stablecoins like USDC, USDT, and UST. The markets are laid out on the left side of the screen with line graphs in addition to price and are extremely accessible. The buy and sell buttons near the top right clearly show the bid and ask prices, and placing orders is extremely straightforward. CoinJar also includes a helpful introduction to whatever asset you click on with links for additional information and supports dollar cost averaging through recurring buys. The CoinJar mobile isn’t the most beautiful or jaw-dropping app out there, but it is very easy to use.

Yes, CoinJar employs multiple security features including data encryption, cold wallet storage, and 2FA support to keep their customer’s assets safe. CoinJar customers can also instantly buy crypto without making a deposit. This is done via Mastercard, Visa, Apple, or Google Pay, which is coinjar legit will incur a 2% fee. This fee is more than reasonable for such a service, especially in Australia. They are determined algorithmically by Compound (CoinJar does not set the rates themselves), but investors can very easily find competitors with superior earning opportunities.

CoinJar Ratings at a Glance

In fact, there are more advanced attributes on the CoinJar exchange that suits crypto investors and trader better compare to the fiat-to-crypto trading platform. After registration and verification of the account, the next step for new investors is to fund their trading accounts. To do this, the CoinJar exchange allows clients to deposit both fiat currencies and cryptocurrencies in their trading account. A vital feature many investors look out for when choosing an exchange platform is the trading platform being offered by such a crypto exchange. The trading platform is so important because it oversees the entire trading activity performed by an investor. As an Australian who has traded hundreds of thousands of dollars worth of crypto, I have a fair bit of experience testing different Australian exchanges.

CoinJar Card

We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. We’ve requested more information through Trustpilot in order to identify you. Please let us know your support ticket number or a CoinJar username so we can assist. It is also important to note that the Coinjar platform does not have regulatory oversight by any national financial bodies.

About Coinjar

CoinJar may look like a run-of-the-mill cryptocurrency exchange at first glance, but the product is anything but basic. CoinJar offers exchange access and a digital wallet to clients, with a wide range of options for digital asset management. Users can buy, sell, exchange or transfer a variety of cryptocurrencies on the uncomplicated platform. Novice traders will appreciate the painless onboarding process while advanced traders can use more sophisticated and superior features on the exchange itself. Like many other Australian crypto exchanges, CoinJar provides support for investors who want to invest in digital assets as part of their Super Fund.

CoinJar Supported Coins

In offering greater competitive advantages over other crypto exchange platforms in the market, the team behind the CoinJar exchange provides innovative services and products to its clients. You might find the card interesting if you want to seamlessly move your money between crypto and Australian dollars without having to wait 1-2 for a bank transfer withdrawal. Another perk of the card is that you don’t pay the usual 1% trading fee when converting cryptocurrency into AUD. That’s where Blueshyft cash deposits come in handy, by allowing you to deposit cash in a range of supported locations and get AUD deposited to your Coinjar account almost instantly. CoinJar is what I always recommend new crypto user in Australia to go to!

Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. To buy, sell and trade crypto on CoinJar, you first need to verify your identity. If you want to access all the CoinJar features, then you have to complete the verification process. Also, there are 4 fee categories for converting fiat to crypto and vice versa. This is an excellent feature for all CoinJar users who are residents of Australia. You can use your physical CoinJar Card to swipe your crypto everywhere that Mastercard is accepted.

For all other crypto and stablecoin pairs, the taker fee is 0.04% regardless of volume. The customer support is available 5 days a week and from the hours of 8 am to 6 pm Melbourne time. The exchange platform also makes available a dedicated support page known as Knowledge Base which consists of various articles that assist investors with complaints. The CoinJar exchange platform offers impressive customer support to its clients in all areas. It makes available support agents that are diligent and ready to respond to requests and complaints within 2 business hours.

Tokenhell is a blockchain & crypto news agency where you can discover news about crypto coins, technical analysis, blockchain events and detailed reviews. None of the information you read on Tokenhell should be regarded as investment advice. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Having TLS incorporated within the security system of CoinJar exchange ensures that data and privacy integrity of clients are well assured. This implies that all information provided by clients on the exchange platform is safe, secured, and elusive to third parties.

This technology offers a double layer of security to clients’ investment funds and trading accounts. Upon activating the 2FA, a six-digit code will always be sent ti clients to verify such activity or transaction. In the case where the store doesn’t approve of card payments, clients can withdraw cash from the conventional ATM while also checking their crypto wallet balance in the process. Given the fact that there are no fees when you withdraw AUD to a bank account, CoinJar is a strong proposition for Aussie traders.

The transfers are pretty much instant and you’ll be able to start spending with your Coinjar card pretty much instantly. In case you’re wondering, Coinjar makes their money by levyying a small transaction fee every time you trade. CoinJar has a FAQ-like section on their website called the Knowledge Base with a wealth of information for inquiries. Both current clients and prospective ones can search the Knowledge Base for topics like identity verification, making deposits, using the exchange and setting up different account features. We have passed your feedback to our product team and we are working hard on improving our Andoird app. The CoinJar platform is available to residents in Australia and the United Kingdom to buy and sell digital currencies.

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