Coinjar | Business24-7

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Written by Braden Chase Edited by Giles Thomas Fact Checked by Tomislav Turcin

7 March 2023

3 March 2023

Page Summary

Coinjar is an interesting exchange broker to buy and sell digital currency. It offers fiat currency deposits and withdrawals for Australian residents. Coinjar accepts customers from all around the world. We recommend it for crypto traders at all levels who want to deposit and withdraw funds in cryptocurrencies.

Review Summary

Coinjar is a user-friendly cryptocurrency exchange with a simple-to-understand interface.
It offers useful safety measures, including two-factor authentication.
It offers a powerful mobile app with access to 5 popular cryptocurrencies.

Coinjar Overview

Coinjar is a cryptocurrency exchange broker popular in Australia. It lets Australian residents deposit/withdraw funds with a bank account. Customers outside Australia need to deposit funds with a cryptocurrency. Coinjar is an interesting exchange for traders at all levels.

Trading Experience

The Coinjar exchange has reliable platforms with a professional and simple-to-understand interface. Transactions are simple to perform, even for beginners. The Coinjar mobile app is available on Android and iOS devices. This exchange offers a native crypto wallet to store digital currency.

Cryptocurrencies Available 

The Coinjar exchange supports five digital currencies. Traders buy and sell the following coins:

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
ZCash (ZEC)
Ripple (XRP)

Fees 

Coinjar has a transparent fee structure. Crypto deposit fees are free-of-charge. Australian residents benefit from free deposits via bank transfers. The standard trading fee at Coinjar is 1%. We recommend you read more about an exchange before trading with it. Our in-depth reviews offer more information on crypto exchanges and fees.

Regulation & Reputation 

Our Coinjar exchange review reveals it doesn’t have top-tier licenses. It offers industry-leading security measures, including:

Two-factor authentication
Cold storage for 90% of customer funds
Multi-sig technologies for online storage
Website data encryption and transport layer security

Account Opening 

Account opening at Coinjar exchange is simple. The steps you need to follow to create a Coinjar account are:

Access Coinjar’s website and click on “Open a Coinjar Today.”
Enter your full name, address and create a password.
Confirm your email address.
Add a country of residence and phone number.
Start trading.

Customer Support 

Customer service at Coinjar is average. It offers only support tickets available on the Coinjar platform. Phone support and live chat aren’t available. Read our in-depth reviews for more information on the importance of customer service when trading online.

Summary 

Coinjar is a good choice for traders looking forward to funding their accounts with crypto. It offers some learning tools and a reliable mobile app. We recommend the Coinjar platform to traders at all levels.

FAQ

What Is A Centralized Crypto Exchange?

A centralized exchange represents a private company with access to platforms to invest in crypto assets. These exchanges request registration, known as the Know Your Customer Rule.

What Is A Decentralized Crypto Exchange?

A decentralized crypto exchange doesn’t follow the rules of any regulatory body. It doesn’t have a central point of control. It functions as a server with each computer within the server spread out in different countries. If one device malfunctions, it doesn’t interfere with the network’s activity. Decentralized exchanges come with significant risks. Read our in-depth reviews to learn more about crypto exchanges and safety.

Do I Need To Verify My Identity To Use Coinjar?

If you want to deposit/withdraw funds with fiat currencies, you’ll have to verify your identity. Keep in mind that this option is only available to Australian residents.

Is Debit/Credit Card Withdrawal Available At Coinjar?

Coinjar lets Australian residents deposit funds with a local bank card. Traders outside Australia will have to deposit/withdraw using cryptocurrency.

Is Coinjar Beginner-Friendly?

Yes. Coinjar has a simple platform with an attractive interface. Both the web and mobile apps are beginner-friendly.

Disclaimer

Braden Chase

Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

Coinjar Review