Crypto is an industry where customers aren’t normally treated that well, or customers get frustrated using the platform, and ratings are normally around 1 or 2 out of 5. There’s also a 1% fee if you want to convert your crypto to another cryptocurrency (which is a lower cost option if you were planning to sell a coin to cash, then buy another coin). This is the main fee that you’ll pay, and it’s conveniently a fee when you buy crypto with cash. It’s not a fee set by CoinJar, but a fee for sending transactions on the network itself – and happens with all crypto exchanges.

• I just wish the liquidity levels were higher and smaller units could be allowed for trading.
• Although more experienced users will appreciate the CoinJar Exchange, it is still quite simple and is probably too light on features for professional traders.
• You have to wait one week before you can send the crypto, which I did, but then when I eventually sent it to my cold wallet my account was put on hold and I was told that I had to submit bank statements and pay slips in order to send the funds!
• Researched and reviewed a wide range of financial services companies, and have a transparent review process
• Despite lacking ways to contact customer service, tickets will be responded to throughout the week and even on weekends.

Nuts About Money

But u r happy 5o take the higher prices on my coins and selling fees ! This means that in a small number of instances we need to ask customers about crypto transfers without providing a reason for doing so. Established in 2013, CoinJar is one of the longest-running cryptocurrency exchanges. The “Pro” CoinJar Exchange was very good for its very low trading fees. FINRA, a non-profit that supervises broker firms and educates the public about investments, has information on the risks of investing in cryptocurrency. “And if someone says that you owe a fee or payment and they tell you to directly go to a crypto ATM machine, certainly it’s a scam.”

There’s no fees to deposit cash with a bank transfer (or make withdrawals). There’s no fee to have an account, or hold your crypto. There’s also an API for professional traders to integrate their own trading systems and software into, while benefiting from the speed of CoinJar trade execution, custody and protection, features and competitive fees. You can buy crypto with either a bank transfer, or a debit card (Visa and Mastercard), and they’ll convert your cash for crypto. You can deposit your money (called fiat or local currency), and within a few seconds you can have crypto in your account. Any APR shown is a rough estimate of how much cryptocurrency you will earn in rewards over the time period you choose.

Not only that, but the exchange has pretty poor liquidity, so high-volume investors might need to look elsewhere. At the moment, only Australian residents can access the Earning program—UK investors will have to wait or use a different platform. Overall, the CoinJar Earn service is a nice addition to the growing list of features.

The Trustpilot Experience

The FBI began Operation Level Up as an attempt to identify and warn victims of investment scams. Unlike the value of government-backed money, that of virtual currencies is driven entirely by supply and demand. The Federal Trade Commission (FTC) warns consumers that crypto investing comes with many risks, including scams. A different privacy policy and terms of service will apply.

Supported Fiat & Crypto Deposit Methods

While it’s easy to find specific digital assets and place an order, the platform lacks many quality-of-life features that more advanced traders will be looking for. This fee is more than reasonable for such a service, especially in Australia. This is done via Mastercard, Visa, Apple, or Google Pay, which will incur a 2% fee. CoinJar charges a flat 1% fee across all assets to buy, sell, and swap crypto.

• I am unable to transfer neither cash nor crypto currencies back to my bank account resp.
• New coins are added if they become popular and have long term potential for traders and ‘hodlers’ (those who just buy and hold).
• It has received positive reviews for its design and user experience, reflecting a level of user satisfaction.
• Bundles are managed by CoinJar themselves, and they’ll change the investments within the bundle based on certain criteria.

Therefore, caution is advised when using money laundering. These are significant considerations for potential users. However, like any other platform, CoinJar has its drawbacks. From beginners to seasoned crypto enthusiasts, CoinJar has something for everyone. It certainly seems to cater to a broad spectrum of users. With the is coinjar legit added convenience of CoinJar Swipe, using cryptocurrencies becomes comparable to using traditional fiat currencies.

Range of coins

Maybe CoinJar just doesn’t want anyone to use their platform they make things so difficult for the average person to use. I’ve sent USDT to this wallet address so many times in the past and the transaction is blocked again! And contacting support is useless because no one responds! My issue is that the help and support function is so slow I’m not even sure my request is being looked at? Use to use them all the time for years infact, however now every single transaction big or small needs a 48 hour min review – this is just crazy.

It’s also free to transfer crypto into your CoinJar account. It’s fairly swift, and having a real person handle your support is helpful – and not something you come across that often in crypto. For instance, you could buy a bundle of ‘DeFi’ coins (decentralised finance, which are crypto projects related to finance on a blockchain (crypto network)). This is a pretty cool feature that you don’t typically find on many other exchanges – with CoinJar, you can buy ‘bundles’ of coins (groups of coins). CoinJar is easy to use, secure, and has low fees. There’s also a more advanced exchange (called CoinJar exchange), suited for more regular trading (buying and selling), typically more suited for advanced traders, or those looking to learn and develop trading skills.

They continiously were asking what is the exchange I’m sending the crypto to and didn’t understood that my address is an addrerss of WEB3 walletas result they didn’t allow me to move the crypto outside and told me that returned the funds back to an Everyday Account. Since coinjar frozen my account last year Dec, then I wrote the true story for what I’ve been through online,then coinjar reported me money laundering. Edward Savage is a leading expert on money, with a background of 8 years working in financial services in London, has a business, accounting and finance degree, runs an investing community, and teaches people about money. It’s user-friendly, on both their website and via a mobile app, and only takes a few minutes to set up and buy crypto (either via bank transfer or debit card).

It’s a platform that offers a seamless experience, from buying and selling cryptocurrencies to managing them in a secure, built-in wallet. It boasts built-in wallets for managing cryptocurrencies and the ability to make instant card payments, features that are designed to make the platform accessible to all. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

CoinJar Fees

I just wish the liquidity levels were higher and smaller units could be allowed for trading. We are sorry to hear about your experience with CoinJar. You can deposit but they disable your withdrawals and the ‘support” team ignore you. Avoid like the plague Replied to 100% of negative reviews Companies on Trustpilot aren’t allowed to offer incentives or pay to hide reviews. Wish of a Lifetime

Worst exchange ever

Thank you for bringing a local service to us, enjoying the platform Come on Coinjar this customer support is appalling. This is now my third review and I am completely unsatisfied with Coinjar’s customer support. Scam don’t waste your time.I had a terrible experienceS C A M T race n e t prevented the loss.

This seamless interface can be a game-changer, especially for those new to the crypto space, making their journey less overwhelming and more enjoyable. For users in different regions like Australia, Europe, and the UK, PayID, SEPA, or Faster Payments methods can be used. It requires entering personal information, providing a government-issued photo ID, and sometimes an additional document, followed by a selfie as per the app’s guidelines. This unlocks additional features such as bank transfers and the use of the CoinJar Card. Once the account is activated, you are prompted to choose a CoinJar username and verify your identity. Please note that you must be at least 18 years old to use the service.

Protect yourself from criminals offering phony investments or the illusion of romance

Despite these risks, CoinJar proves to be a reliable platform for crypto trading. Its simple interface, integrated wallet, and diverse portfolio of trading options make it a suitable platform for those looking to venture into the world of crypto. However, compared to other exchanges, CoinJar’s feature set is limited, providing fewer coins and less advanced trading options.

Still on forever time to investigate…this is what coinjar did to me. More than 20 years of combined experience researching and writing about money We’re experts in all things money, with years of combined experience working in the finance industry and writing about money.

CoinJar Reviews 2,501

Overall, the low fees and flexibility of the CoinJar Card make it one of the practical crypto debit cards available to Australians. CoinJar Card is a crypto debit card that allows users to spend digital currency at any in-store or retailer that supports Mastercard. It is the worst experience I have ever had with a crypto exchange and clearly a sign that they cannot handle even small amounts of crypto trading/exchanging. You have to wait one week before you can send the crypto, which I did, but then when I eventually sent it to my cold wallet my account was put on hold and I was told that I had to submit bank statements and pay slips in order to send the funds!