Australian crypto investors and traders are spoilt for choice in platforms that provide direct AUD to crypto trading. There are several considerations that should be made before committing, including their fee structure, reputability, security infrastructure and measures, and how responsive the customer service is.
CoinJar is one of the few Australian-based crypto exchanges that have a long history of being a safe and trustworthy exchange. They offer Australians with several innovative products and services that lead the market in their niche.
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What Is CoinJar?
CoinJar is a trusted and reliable cryptocurrency exchange that is suited to Australian investors who are fairly new to the world of cryptocurrency. They provide a number of unique and innovative products and services and are backed by some of the most forward-thinking investors including Digital Currency Group, Boost VC, and Blackbird Ventures. One of their best features is their CoinJar Card where crypto can be spent at outlets that accept Mastercard. The card also supports both Apple Pay®️ and Google Pay®️. This, along with the competitive fees, makes the CoinJar Card the best crypto debit card within the Australian market.
Since its establishment in 2013, CoinJar has built a reputation of being a trustworthy and innovative crypto exchange that has traded over $1.5 billion across over 400,000 users.
Advantages & Limitations
Fiat-to-crypto exchange, crypto debit card
AUD and GBR
Direct bank transfer, BPAY, PayID/NPP, Blueshyft, credit card, cryptocurrency
iOS and Android
Top CoinJar Features You Should know
One of CoinJar’s trademark products is the CoinJar Card and is exclusively available for Australians only. It can be used anywhere that accepts Mastercard and it allows users to spend crypto-like cash, online and in-store. It is free to set up, has no monthly fees, and users can earn CoinJar Rewards every time a transaction is made.
The CoinJar Card can be found in the CoinJar Mobile App, meaning that users can instantly find their spend history, current balance, and card details. Additionally, customers can request a physical card to be sent free of charge. On top of being incredibly convenient and simple to use, this card, unlike the Crypto.com Visa Card covers spending (in-store and online) by automatically converting cryptocurrencies that are held in a CoinJar account. The CoinJar card supports both Apple Pay®️ and Google Pay®️ , giving customers a unique way to use your crypto that is not offered by many other Australian crypto exchanges.
A summary of CoinJar Card fees is provided below.
In-store and online purchase
1% of total transaction amount.
Transactions made in a fiat currency other than AUD will be subject to the current Mastercard exchange rate plus a 2.99% foreign exchange fee.
1% of the total withdrawal amount
CoinJar Card may be used at ATMs that accept Mastercard. The ATM operator may charge an additional fee. ATM operator fees vary by ATM operator.
$27.50 per transaction
CoinJar Card transaction and volume limits are presented below and are quite amenable compared to other exchanges which offer a debit/credit card service.
Maximum Daily Spend
Maximum Number of Daily Transactions
Maximum Withdrawal Amount
Maximum Number of Daily Withdrawals
$1,000 (minimum of $20 applies for ATM withdrawals)
CoinJar Rewards is a program where CoinJar Points are earned and redeemed for products and services including:
- Monthly or yearly plans with Cointracker, CryptoTax, Koinly, CryptoTrader.Tax, and TradingView.
- Gift cards ($20 – $30) for popular shopping outlets including JB Hi-Fi, Myers, Netflix, Uber, and iTunes Store.
- CoinJar merchandise.
- Donations to Australian charities including PetRescue, Electronic Frontiers Australia, and Red Cross Australia.
CoinJar Points are earned by:
- Conducting crypto transactions where fees are incurred (excludes transactions made on CoinJar Exchange).
- Purchasing through CoinJar Swipe.
- Referring new CoinJar members via the affiliate program.
- Paying an external BPAY Biller.
Streamlined Buying & Trading Interface
The CoinJar interface has been designed with simplicity in mind which should appeal to the everyday Australian investor. The Buy / Sell page can be easily navigated to using the tab at the top of the home account page.
AUD-crypto trading pairs can be seen on the left panel with the current market price of each visible. The price is based on CoinJar’s active midpoint rate. Users can select their desired trading pair (e.g. AUD-Bitcoin) and a basic buying panel will show on the right side of the page.
CoinJar’s buying and selling function resembles the “quick buy/sell” functions of most Australian exchanges. However, customers won’t have the option of selecting advanced order types which allow investors a bit more flexibility and control in their trading habits. Investors who are looking to place advanced order types such as Limit Orders, Market Orders, or Stop Limits will need to use an alternative exchange like Swyftx, ZipMex, or BTC Markets. Advanced and even some intermediate traders may find the function a bit lacking, however, it is suitable for beginners looking to acquire crypto without hassle.
Purchase Crypto Bundles
An innovative product that CoinJar offer is the ability for customers to buy portfolios containing a variety of digital assets in a single transaction. For example, the “Popular Trio” bundle contains 53% Bitcoin, 42% Ether, and 5% Ripple. Customers seeking more options can pick from CoinJar’s supported digital currencies to make their own bundle.
These allow investors to diversify their crypto portfolios over time. Users can choose bundles that offer proportional or cap-adjusted allocations and can be monitored with automatic tracking.
A welcome feature is the ability to set up and use Dollar-Cost-Averaging (DCA) with recurring bundle buys. Payments can be debited weekly, fortnightly, monthly, or at a custom frequency. Crypto purchases using DCA are a popular method to acquire assets whilst minimising the effects of market price volatility.
CoinJar has introduced a separate crypto trading exchange called CoinJar Exchange. The same CoinJar account login details are used to access the exchange platform.
CoinJar Exchange possesses a different fee structure, live crypto charts, and a more comprehensive trading interface. Despite adding live charts, the interface remains uncluttered and clean. The interface lacks any advanced indicators, drawings tools, and order types and therefore will appeal to beginner traders who know how to read live charts. Advanced traders will likely seek another exchange trading platform that offers advanced features.
Over-The-Counter Trading Desk
Individual and institutional investors are able to make off-exchange transactions in excess of $50,000 using the CoinJar Over-The-Counter (OTC) trading desk. The OTC team can be contacted via email where a dedicated manager will be assigned to your OTC trade. CoinJar state that they are able to access deep liquidity to provide its customers with the best available prices for their trading pairs. This would suit high-volume traders who wish to conduct discrete transactions at the best available rates.
High-Level Industry Backing
CoinJar is one of the longest-running crypto exchanges in Australia. During that time, they have been backed by some of the most forward-thinking investors and capital firms including:
- Digital Currency Group – a venture capital fund that supports the development of ledger networks and blockchain.
- Boost VC – a capital venture fund that invests in entrepreneurs who utilise scientific technologies to solve world problems.
- Blackbird Ventures – an Australian-based venture capital fund that invests in innovative technologies and Australian startups.
Is CoinJar A Legitimate Exchange?
CoinJar is a legitimate Australian-based cryptocurrency exchange that is registered under the CoinJar group of companies. The exchange is also registered under the Australian Transaction Reports and Analysis Centre (AUSTRAC) that is responsible for monitoring financial transactions to identify money laundering, organised crime, tax evasion, and terrorism funding.
How Do CoinJar Fees Compare?
CoinJar does not charge fees to deposit AUD or cryptocurrencies into the wallet. However, Blueshyft cash deposits and Instant Buy purchases will incur small fees.
Instant Buy (Visa or Mastercard purchase)
Blueshyft cash deposit
Direct debit (Coinjar bundles only)
Receiving cryptocurrencies from non-CoinJar addresses
Receiving cryptocurrencies from other CoinJar members
2% (additional fees may be incurred by your financial institution)
None (payment processing fees may apply if deposits come from credit accounts)
Overall, CoinJar deposit fees are very competitive in comparison to other popular Australian crypto exchanges. Although minor fees will be incurred via Visa / Mastercard or Blueshyft deposits, these payment methods are not readily available on other platforms.
Converting or transferring cryptocurrencies between different types of accounts will incur a 1% fee on the total transaction amount. This will apply for:
- Transactions made between cryptocurrency accounts.
- Transactions made between a cryptocurrency account and a cash account.
In comparison to other Australian exchanges, the flat 1% fee is relatively high.
CoinJar Exchange Trading Fees
Trading fees on CoinJar Exchange follow a maker / taker model between AUD and cryptocurrency trading pairs which range between 0.10% and 0.04%. The trading fee will not affect the margin of the order as it is deducted from the account balance.
AUD-Crypto Trading Pairs
$10,000 – $100,000
$100,000 – $1M
$1M – $10M
Trading between cryptocurrency pairs such as BTC-ETH will incur a 0% taker and 0.04% maker fee irrespective of the transaction volume. Compared to other crypto exchanges, the CoinJar Exchange trading fees are quite competitive. For example, the maker/taker fees for Mine Digital are 0.1% ad 0.2%, respectively.
Crypto/Stablecoin Trading Pairs
Any transaction volume
CoinJar charge a variety of withdrawal fees depending on the transaction. Some transactions including the withdrawal of AUD from the CoinJar account will not incur a fee, which is typical offering in the Australian crypto market.
Transactions where withdrawals fees do not apply
Transaction where withdrawal fees apply
- AUD withdrawals.
- Withdrawals of certain crypto (LTC, XRP, XLM, ALGO and EOS).
- International or non-AUD withdrawals – $20.
- All crypto withdrawals incur a network fee which is determined by the blockchain load.
- Withdrawals of certain crypto including BTC, ETH, DAI, USDC, USDT, and all other supported digital assets. These attract a “Dynamic Fee” which ensures the transfer receives confirmation on the blockchain as soon as possible. The Dynamic Fee is calculated every 15 minutes and is based on the withdrawal amount.
CoinJar is a safe and secure exchange that uses multiple security measures to safeguard its customer’s assets and information. Since its establishment in 2013, there have been no reported security breaches during their operation that have resulted in the loss, theft or damage of customer held assets or digital infrastructure.
Protection of Infrastructure & Assets
The exchange states that their digital infrastructure is hosted on Amazon Web Services which provides CoinJar with capabilities including access control, data encryption techniques, monitoring and isolation. Their internal networks are protected with firewalls with internal (and external) traffic encrypted. Private networks run applications and database servers where staging and production environments are isolated from each other. Machine learning software is also used to recognise suspicious logins, account takeovers and financial fraud.
CoinJar store about 90% of its customers assets in cold storage hardware wallets that are held in geographically-redundant, secure locations.
Organisational Security & Integrity
All CoinJar employees are required to pass a criminal background check and use cryptographically-secure Multi-Factor Authentication such as hardware U2F keys to access internal services. CoinJar liaise with an active group of security researchers via its Bug Bounty program to continually improve the security of CoinJar.
Getting Started With Coinjar
Account Creation & Verification
Creating a CoinJar account requires an email address and a strong password. A verification email will be sent to the nominated email address. When you log in for the first time, you will be required to provide an account alias name, select your country of residence, and provide your mobile number which will be used for future security protocols.
Adding Two-Factor Authentication (2FA) to your account is highly recommended to provide enhanced security. 2FA sometimes referred to as dual-factor authentication, is a security process where users provide two different authentication methods to verify their identity. CoinJar users will have the option of receiving SMS codes to the nominated mobile device or using an authenticator app such as Google Authenticator.
ID verification is a process that can be entirely completed on a mobile device.
- Full name
- Date of birth
- Country of Citizenship
- Country of Residence
Users will have the option of verifying their identity with an Australian drivers licence, passport or Medicare card. Alternatively, a foreign passport will be accepted. Verification will involve taking a photo of the selected ID document as well as a selfie photo.
In our experience, creating and verifying a CoinJar account was not as streamlined as it could have been with the app failing to recognise the provided photos on one occasion, the process taking 15 minutes to complete, and receiving confirmation of verification about 30 minutes later. In comparison to other top cryptocurrency platforms in Australia, the CoinJar account setup process is not the best but also not the worst.
Depositing funds into a CoinJar account is only possible if the account has been verified. CoinJar offers Australians a variety of payment methods including direct bank transfer with AUD, BPAY, PayID/NPP, Blueshyft, Visa/Mastercard and cryptocurrency.
The user Experience
At first glance, the account interface seems clean and visually appealing. Navigational buttons to buy/sell, bundles and accessing CoinJar Card are easily found at the top of the page.
Charts that show the market price action of selectable digital assets are viewable in the buy/sell page, however we did not find a way to view market depth and recent trade histories. In our opinion, the home dashboard provides little value to customers compared to other exchanges like Swyftx where more information is cleanly presented on one page.
Additionally, we were unable to find a way to create our own CoinJar Bundle on the Bundles page. Information to setup DCA was found at the bottom of the Buy/Sell page and not easily found.
The structure of the account interface appears to be organised according to the products and services that CoinJar offer. In our opinion, this could be improved to offer a more streamlined and practical interface to users.
CoinJar is only available to investors and traders residing in Australia and the UK with AUD and the GBR as the supported fiat currencies. Investors and traders who reside in countries besides Australia and the UK will need to seek an alternative crypto exchange.
Customer Support & reviews
CoinJar support provides a comprehensive knowledge base with how-to guides and answers to frequently asked questions. The guide covers topics ranging from verifying your identity, depositing funds, introducing CoinJar Exchange, the fee structure, and more.
Customers can reach the support team via a ticket system. There is no live chat available which is a common communication tool in other crypto exchanges.
The CoinJar Mobile App
CoinJar features a mobile trading app that allows its users to buy, trade, and sell cryptocurrencies on mobile devices. The CoinJar app provides access to all functionality and features (except CoinJar Exchange) on any device with a modern web browser such as Android or iOS smartphones.
Frequently Asked Questions
Does CoinJar Offer A Referral Program?
CoinJar has an affiliate program where users can share their referral links to invite others to use the platform. Anyone who creates and verifies an account with CoinJar will receive 500 CoinJar Points. The link provider will be rewarded with 500 CoinJar Points. CoinJar Points can be redeemed at the CoinJar Rewards Store. This system differs from most crypto exchange affiliate programs where a percentage of the fees incurred is provided as a reward.
Is CoinJar Available In New Zealand?
Investors residing in New Zealand are not able to buy and trade cryptocurrencies with CoinJar. New Zealand users should look for an exchange or platform that supports the use of NZD to fund the account in order to buy digital currencies. Two safe and reputable examples include Mine Digital and Easy Crypto.
Does CoinJar Offer A Debit Card?
CoinJar offers a debit card called the CoinJar Card and can be used at any Australian retailer that accepts Mastercard. The card can be accessed via the CoinJar mobile app or customers can request a physical card to be provided free of charge. The CoinJar Card covers spending (in-store and online) by automatically converting cryptocurrencies that are held in a CoinJar account. The CoinJar card supports both Apple Pay®️ and Google Pay®️.
Can I Have Multiple CoinJar Cards?
CoinJar customers are only able to possess one CoinJar Card as it is directly connected to the user’s personal account. If a card is lost or damaged, the customer support team can be contacted to make new arrangements.
CoinJar is a trusted and reliable cryptocurrency exchange that is available for Australian investors. Their flagship products and services and innovative in the space and they are backed by like-minded investors in the industry. Overall, it seems that CoinJar has put a lot of effort into its products and services, whilst the staple components of a typical exchange have fallen behind. The range of supported cryptocurrencies is an opportunity for improvement, and whilst the trading interface could be made more practical, it still offers an easy way to buy and sell crypto. There are limited avenues to communicate with the customer support team and there is a lack of advanced trading features to perform technical analysis and set order types.
That being said, CoinJar’s primary market seems to be beginner investors who want to be able to remotely access and spend their funds on an everyday setting.