CoinJar Review 2022

CoinJar Review Summary

CoinJar is an online crypto currency exchange that enables its users to buy and sell digital currencies with their local currencies. After completing the Coinjar sign-up form, users will be required to provide their email address and password. Then, the company will verify their email address. After this, they will be able to purchase cryptocurrencies. The CoinJar website also offers support for both Bitcoin and Litecoin. The platform is easy to use and offers many advanced features. Fortunately, CoinJar is extremely easy to use. It is simple to open an account and start storing your cryptocurrency. It also allows you to send your cryptocurrencies to anyone in the world.

CoinJar review
What Do CoinJar Offer?

πŸ‘‘ Cryptocurrencies BTC, ETH, XRP, EOS, LTC, XLM, USDT, OMG, ZRX, MKR
πŸ“ˆ Securities tradable 42 cryptocurrencies
πŸ’΅ Cost per trade Maker: 0.05-0.15%
💬 Customer service Email : Yes, Phone support : Yes, live chat : No.
πŸ’° Desposit Fees No Fees
πŸ’° Withdrawal Fees Fees vary
πŸ’° Payment Methods Bank transfer
πŸ”‹ Mobile app IOS App : Yes, Google Play Android App : Yes

Initially, CoinJar only offered trading via Bitcoin, but gradually started adding more digital currencies that suited its decentralized standards. It has now expanded its list to include more digital currencies like Litecoin, Ethereum, XRP, as well as many others that offer promise and suit its criteria.

CoinJar is a cryptocurrency platform that was founded in 2013 the current Co-Founder/CEO is Asher Tan. CoinJar has headquarters in Melbourne, VIC and offers the buying and selling of over 42 cryptocurrencies to customers all over the world. Buying and selling cryptocurrency can be done online. If you are looking to trade crypto using your mobile phone, CoinJar offers native mobile apps to buy and sell cryptocurrencies, directly from your phone.

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.

CoinJar Review

CoinJar Review

Risk warning : Trading cryptocurrencies is high risk. When trading CFDs losses may exceed deposits.

CoinJar review
CoinJar Best For

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 option for institutions and businesses looking to utilize digital currencies, and it allows traders to convert one digital currency to another.

CoinJar review
CoinJar Advantages

Following are the advantages of using CoinJar:

  • CoinJar has been in business longer than 2 years
  • CoinJar offers over 20 cryptocurrencies.
  • CoinJar offers phone support.
  • CoinJar offers email support.
  • CoinJar offers an Android Google Play Store mobile app.

Easy UI

CoinJar is considered one of the simplest platforms for cryptocurrency investing. You can easily register and deal in digital currencies within minutes. CoinJar also offers a learning platform that rewards users with cryptocurrencies to learn about how they work.

Wide Crypto Selection

CoinJar has an impressively extensive range (over a hundred and growing) of digital currencies that you can trade, not to mention the most popular ones like Bitcoin, Cardano, Solana, and many more. This is in stark contrast to other financial applications or brokers that offer the promise of cryptocurrency trading but provide only a few of the most popular coins.

High Liquidity

High liquidity guards investors from price slippages in a market that is already volatile. CoinJar currently ranks among the highly liquid exchanges.

Opportunities For Earning

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.

Cryptocurrency Custody

Contrary to brokers focused on trading, CoinJar enables traders to take custody of their cryptocurrency assets for themselves. CoinJar provides its cryptocurrency wallet, but traders can bring their wallets. This way, traders can pick the solution that suits them the most.

Staking Rewards

CoinJar also enables traders holding digital currencies with them to take part in staking rewards. Staking is similar to earning interest with a bank account. This, however, comes with different risks. Staking generates revenue from traders’ holdings as they are utilized for validating transactions in a digital currency. CoinJar shares that type of reward with its traders. CoinJar takes care of the technical side, and the extra coins are sent to the trader’s account on an established schedule.

CoinJar review
CoinJar Disadvantages

Following are the disadvantages of CoinJar:

  • CoinJar does not offer PayPal as a payment method
  • CoinJar does not offer Neteller as a payment method
  • CoinJar does not offer Skrill as a payment method
  • CoinJar charges withdrawal fees
  • CoinJar does not offer Livechat support.

Insufficient Variety Of Altcoins

Although CoinJar has a vast variety of altcoin choices for beginner investors to interest themselves in. Those seriously wanting to trade in altcoins may not find a good selection there.

Higher Fees And Their Lack Of Transparency

CoinJar has higher fees compared to other exchanges. Its fee structure can also be confusing. If you are using CoinJar β€˜s basic platform, you will not be able to find a schedule before you proceed to place a trade.

CoinJar review
CoinJar Cryptocurrency Choice

CoinJar allows you to trade around 42 digital currencies including BTC, ETH, XRP, EOS, LTC, XLM, USDT, OMG, ZRX, MKR and many more.

CoinJar review
What Cryptocurrencies Are On CoinJar

CoinJar has 42 cryptocurrencies available to registered users. These cryptocurrencies include BTC, ETH, XRP, EOS, LTC, XLM, USDT, OMG, ZRX, MKR.

CoinJar review
CoinJar Stablecoins

CoinJar offers its own stablecoin called CoinJar. Stablecoins are meant to mitigate volatility in relation to digital currencies like Bitcoin. Stablecoins are usually pegged to stable reserve assets like the US dollar or gold. Traders can buy stablecoins on CoinJar.

CoinJar review
CoinJar Altcoins

CoinJar has a decent variety of altcoins for traders to choose from with over 42crypto assets including alt coins listed on CoinJar.CoinJar has a decent variety of altcoins for traders to choose from with over .

CoinJar review
Trading Cryptocurrency With CoinJar

Different cryptocurrencies at CoinJar come with different limitations and set withdrawal amounts. You may only be able to trade some with fiat currencies like the US dollar. Some may also be restricted in some countries. Users can buy cryptocurrencies via debit card. They can also purchase crypto with funds in their CoinJar wallet.

CoinJar Crytocurrency To Crytocurrency Trading

CoinJar has upwards of 42 cryptos available in multiple regions of the world.

CoinJar Crytocurrency To Fiat Currency Trading

CoinJar review
CoinJar Cryptocurrency Custody And Ownership

CoinJar allows users to take custody of their cryptocurrency assets themselves. Users can either use CoinJar’s crypto wallet, or their own. CoinJar also has over 2 fiat currencies available including GBP, AUD all accessible to registered users.

CoinJar review
CoinJar Staking Rewards

CoinJar enables customers holding crypto to take part in staking rewards. It is similar to interests in a bank account; however, it comes with its risks. This generates revenue from a user’s holdings because they are used to authorize crypto transactions. That revenue is shared with customers.

CoinJar review
CoinJar Fees

CoinJar Users will have to pay a Maker: 0.05-0.15% trading fee as well as deposit fees of No Fees when buying and selling cryptocurrency with CoinJar.

CoinJar review
CoinJar Network Fee

Outgoing CoinJar transactions to outside crypto addresses normally require a network fee, also known as a mining fee. This ensures the processing of transactions on crypto networks. This fee is then forwarded to crypto miners, the systems processing the transactions.

CoinJar review
CoinJar Trading Commissions

Trading commissions at CoinJar work similarly to traditional share dealing fees. That means users have to pay a variable commission. The standard trading commission at CoinJar is 1.49 percent, so users will have to pay this percentage when they buy or sell a digital currency.

CoinJar review
Withdrawal Fees

With CoinJar standard cryptocurrency to fiat withdraw fees varies by cryptocurrency, instant cash-out of your CoinJar account. A withdrawal fee of (Fees vary) may also be required for certain 3rd party payment methods instead of using cleared bank funds.

CoinJar Currency Conversion Fees

CoinJar charges a percent flat fee on all currency conversions which you will have to factor into your crypto trading.

CoinJar Payment Methods

The payment methods offered at CoinJar are Bank transfer. CoinJar also offer wallet, wire transfer, crypto conversion, ACH transfer, and credit transactions.

CoinJar review
CoinJar Withdrawal Methods

If you have cryptocurrency or traditional fiat currency in your CoinJar account and want to withdraw it, you must use the same payment method that you used to deposit it. This is because of anti-money laundering legislation.

CoinJar review
Withdraw Fiat Currency From CoinJar

Users can withdraw their digital currency from CoinJar to fiat at any time through an ACH transfer. Such transfers usually take 1-2 working days to complete. CoinJar also allows instant cash-outs that run twenty-four-seven, to cards or bank accounts in exchange for extra fees (1 percent).

CoinJar review
CoinJar Security

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.

CoinJar holds its customers crypto in its free wallet service. Users can even choose to hold their cryptocurrencies in separate wallets. CoinJar requires its users to finish a 2-factor authentication process to log in to their accounts. Other than that, CoinJar also has biometric login (fingerprints and Face ID) security as well as AES-256 encryption when it comes to private keys. Aside from all this, it helps to use strong passwords, i.e., ones that should not be used elsewhere.

CoinJar holds your cash in one of three locations: custodial accounts found at US banks, US money market funds, US Treasuries and for European CoinJar clients FCA regulated European banks may be used.

CoinJar review
CoinJar Two Factor Authentication - 2FA

CoinJar does offer two-factor authentication for added security.

CoinJar Specific Device Whitelisting

Specific device whitelisting is a feature that enables cryptocurrency withdrawals to only be sent to devices that are allowed. The two-factor authentication feature is required to enable or disable the feature. This allows CoinJar customers to withdraw to authorized devices.

CoinJar review
CoinJar Wallet

CoinJar review
CoinJar Online Cryptocurrency Wallets

CoinJar review
CoinJar Hardware Cryptocurrency Wallets

CoinJar review
CoinJar Liquidity

CoinJar has a large amount of liquidity. In that case, wide spreads should not be a big concern. Liquidity also allows for significant transactions without any problems.

CoinJar review
How To Open A CoinJar Account

To open an account at CoinJar, the first step to get started is to provide your name, email address, password, and the state you live in. Choose β€œcreate an account” and move on to verify your email. Once you log in, you will be asked to provide your number and verify it. The next step is to fill in your personal information and answer any questions about the account creation. After that, you verify your identity (a two-factor authentication setup is recommended). The last step is to link a payment method.

CoinJar review
CoinJar User Interface

CoinJar has a simple, user-friendly interface.

CoinJar review
CoinJar Features And Cryptocurrency Trading Tools

CoinJar offers features like crypto investing, custodial accounts, an advanced platform for trading, and its own designated US dollar stablecoin.

CoinJar review
CoinJar Ease Of Use

CoinJar is fairly easy to use. The sign-up process takes only a few minutes. The overall interface is brilliant and easily navigable, with a search bar that lets you explore the crypto offerings available at CoinJar.

CoinJar review
CoinJar Mobile Apps

The availability of mobile applications for such platforms is highly crucial for investors that are always on the go. This way, they can effortlessly place market offers, and keep tabs on live market data, i.e., shares, currencies, stock indices, commodities, etc. CoinJar has highly rated applications for both iOS and Android.

CoinJar review
CoinJar Apple App

The CoinJar app can be found on Apple’s App Store on all Apple devices, offering the same features as the desktop website.

CoinJar review
CoinJar Android App

The CoinJar app can be found on the Play Store on all Android devices, offering the same features as the desktop website.

CoinJar review
CoinJar Education Resources

CoinJar enables entitled customers to learn about digital currencies through their educational resources offered. Users can even unlock lessons educational content and earn cryptocurrency in the process.

CoinJar review
CoinJar Customer Support

CoinJar registered users can request support through email, phone, live chat when available. Support options are available through the CoinJar website and apps. If you have an issue that needs to be resolved you also speak to a representative by filling out a form on the CoinJar website. CoinJar also has a help page for solving common problems with your CoinJar crypto account.

CoinJar review
CoinJar Phone Support

CoinJar phone support can be accessed by called them on 8905988.

CoinJar review
CoinJar Email Support

CoinJar email suport can be reached at [email protected] Although CoinJar usually respond within 2 days it may take up to 7-14 days for a response to some queries during peak times.

CoinJar review
CoinJar Live Chat

Customers can reach out to CoinJar via live chat at any time if they have issues or difficulties with their CoinJar account that they can't solve. Obtaining assistance via live chat is by far the most common means of customer service compared to other types of support.

CoinJar review
What Countries Is CoinJar Available In?

CoinJar is available in over 100 countries. CoinJar does not operate in the following countries : Afghanistan,Haiti,Iran,Iraq,Jordan,Kazakhstan,Kosovo,Lebanon,Libya,Macau,North Korea,Palestinian Territories,Panama,Sierra Leone,Syria,Yemen.

CoinJar review
CoinJar Account Limits

CoinJar offers remarkably high limits and they depend on the user’s account level. A user’s account level is determined by the amount of information they have verified. Fully verified users can buy up to 50K USD worth crypto every day.

CoinJar review
CoinJar Awards

CoinJar review
Can CoinJar Be Trusted?

CoinJar is a regulated company that is backed by major investors and holds licences for all the districts it operates in.

CoinJar review
Is My Money Safe With CoinJar?

Yes, CoinJar is among the safest web wallets available. It keeps 98 percent of its assets in offline cold storage. Assets cannot be hacked while in cold storage. CoinJar also ensures other ways to safeguard funds, i.e., two-factor authentication and AES-256 encryption. Your wallet is also covered up to 250K, courtesy of FDIC Insurance.

CoinJar review
Is CoinJar Regulated By A Financial Regulator?

Yes, CoinJar is compliant with all applicable regulations in every jurisdiction it operates in.

How Do I Contact CoinJar If There Is A Problem?

CoinJar β€˜s customer support can be contacted via email, live chat, and via Twitter. Users can also schedule a call from a representative by filling a form on CoinJarβ€˜s website. CoinJar also has a β€œHelp” section for less complicated issues.

CoinJar Review Verdict

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.

CoinJar Compared To Other Cryptocurrency Platforms

  1. Visit CoinJar alternative CoinJar

    🀴 Used By: 450,000
    ⚑ Crypto Available: BTC, ETH, XRP, EOS, LTC, XLM, USDT, OMG, ZRX, MKR and 42 more cryptocurrency.
    πŸ“ˆ Traded Volume: 64,141,140
    πŸ’΅ Deposit Methods: Bank transfer

    πŸ’° Trading Fees: Maker: 0.05-0.15%
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: No Fees
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  2. Visit CoinJar alternative eToro Cryptocurrency

    🀴 Used By: 23,200,000
    ⚑ Crypto Available: BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM and 27 more cryptocurrency.
    πŸ“ˆ Traded Volume: 41,693,321
    πŸ’΅ Deposit Methods: Credit cards, VISA, MasterCard, Diners Club, Maestro, Debit Cards, Bank Transfer, PayPal, Neteller, Skrill, WebMoney, China UnionPay, Giropay, Electronic wallets (eWallets), Ethereum, Bitcoin, Bitcoin Cash, Dash, EOS, Ripple XRP, Litecoin, Zcash, Payoneer,

    πŸ’° Trading Fees: Fees vary. Overnight and weekend fees apply
    πŸ’° Withdrawal Fees: US$5 (minimum withdrawal of US$50)
    πŸ’° Deposit Fees: Fees vary (conversion fees for non-USD deposits)
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  3. Visit CoinJar alternative eToroX

    🀴 Used By: 13,000,000
    ⚑ Crypto Available: BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM and 27 more cryptocurrency.
    πŸ“ˆ Traded Volume: 42,043,394
    πŸ’΅ Deposit Methods: Credit cards, VISA, MasterCard, Diners Club, Maestro, Debit Cards, Bank Transfer, PayPal, Neteller, Skrill, WebMoney, China UnionPay, Giropay, Electronic wallets (eWallets), Ethereum, Bitcoin, Bitcoin Cash, Dash, EOS, Ripple XRP, Litecoin, Zcash, Payoneer,

    πŸ’° Trading Fees: Fees vary
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Fees vary
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  4. Visit CoinJar alternative Coinbase Pro

    🀴 Used By: 73,000,000
    ⚑ Crypto Available: BTC, ETH, XRP, BCH, EOS, LTC, XLM, DASH, ETC, ZEC and 80 more cryptocurrency.
    πŸ“ˆ Traded Volume: 7,622,846,254
    πŸ’΅ Deposit Methods: Bank transfer

    πŸ’° Trading Fees: Maker: 0-0.50%
    πŸ’° Withdrawal Fees: Cryptocurrency: None
    πŸ’° Deposit Fees: Cryptocurrency: None
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  5. Visit CoinJar alternative KuCoin

    🀴 Used By: 8,000,000
    ⚑ Crypto Available: BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, TRX, NEO and 434 more cryptocurrency.
    πŸ“ˆ Traded Volume: 110,957,137
    πŸ’΅ Deposit Methods: Cryptocurrency

    πŸ’° Trading Fees: 0.10%
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: None
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  6. Visit CoinJar alternative LocalBitcoins

    🀴 Used By: 1,000,000
    ⚑ Crypto Available: BTC and 1 more cryptocurrency.
    πŸ“ˆ Traded Volume: 612,000,000
    πŸ’΅ Deposit Methods: Bank transfer (ACH)

    πŸ’° Trading Fees: None
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Fees vary
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  7. Visit CoinJar alternative Kraken

    🀴 Used By: 6,000,000
    ⚑ Crypto Available: BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, BAT, ETC and 81 more cryptocurrency.
    πŸ“ˆ Traded Volume: 3,048,440,145
    πŸ’΅ Deposit Methods: Bank transfer

    πŸ’° Trading Fees: Maker: 0.00-0.16%
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Fees vary
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  8. Visit CoinJar alternative Huobi

    🀴 Used By: 10,000,000
    ⚑ Crypto Available: BTC, BCH, ETH, XRP, LTC, BTG, DASH, ETC, EOS, QTUM and 320 more cryptocurrency.
    πŸ“ˆ Traded Volume: 924,266
    πŸ’΅ Deposit Methods: Cryptocurrency

    πŸ’° Trading Fees: Maker: 0.2%
    πŸ’° Withdrawal Fees: None
    πŸ’° Deposit Fees: None
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  9. Visit CoinJar alternative Coinbase

    🀴 Used By: 73,000,000
    ⚑ Crypto Available: ATOM, BAT, BTC, BCH, XRP, DAI, DASH, EOS, ETH, ETC and 73 more cryptocurrency.
    πŸ“ˆ Traded Volume: 7,622,846,254
    πŸ’΅ Deposit Methods: Bank transfer (ACH)

    πŸ’° Trading Fees: Fees vary
    πŸ’° Withdrawal Fees: Instant Card Withdrawal: Up to 2% of the transaction plus a minimum of 0.45
    πŸ’° Deposit Fees: Credit/debit card: 3.99%
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  10. Visit CoinJar alternative Coinmama

    🀴 Used By: 2,300,000
    ⚑ Crypto Available: BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP, XTZ, EOS and 10 more cryptocurrency.
    πŸ“ˆ Traded Volume: 86,072,667,390
    πŸ’΅ Deposit Methods: Bank transfer (ACH)

    πŸ’° Trading Fees: 2.9-3.9% (depending on loyalty level)
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Credit card: 5%
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

CoinJar Frequently Asked Questions

Following are the most commonly asked questions (and their answers) about CoinJar:

Is CoinJar Safe?

Yes, CoinJar is backed by high profile investors and regulated by reputed financial authorities.

How Do I Withdraw From CoinJar?

Users can withdraw their crypto to fiat any time they want through an ACH transfer. Such transfers normally take 1-2 working days. CoinJar also allows instant cash-outs to cards or bank accounts in exchange for extra fees.

Is CoinJar Okay For Beginners?

Yes, because of how easy-to-use its web and application interfaces are, CoinJar is seen as one of the best options for beginner traders.

Do I Have To Pay TAX With CoinJar?

You will need to pay taxes on any cryptocurrency profit you accrue. How cryptocurrency is taxed differs on where your country of residence is and where you are in the world. In the USA federal income tax purposes, cryptocurrency is considered "property," which means the IRS classifies it as a capital asset. This means that the crypto taxes you pay are the same as the taxes you'd pay if you had a profit or loss on a capital asset sale or exchange.

Any earnings made on crypto assets held as a personal investment in the United Kingdom will be taxed. It is stated that you must pay capital gains tax only on gains that exceed the annual exempt level.

Individuals must pay taxes on cryptocurrency received as a result of mining, airdrops, confirmation incentives, and cryptocurrency acquired as a paycheck from an employer. Unless the donation exceeds the acquisition cost, crypto assets donated to charity are not subject to capital gains tax.

Check with a local accountant to check if any tax is due on your cryptocurrency trading.