CoinJar cryptocurrency exchange was founded in 2013 to enable Australians and people in the region to participate in cryptocurrency trading and investing.
Despite being focused on Australians, the platform does not prohibit users from other countries from signing up. However, users from other countries must be willing to trade with the AUD as the fiat currency of choice. It is also important to confirm if your country has restrictions on cryptocurrency trading before carrying out such activities.
When it comes to Know-Your-Customer (KYC) verifications, the CoinJar crypto exchange takes it seriously. Users must register with their personal details and verify their identity with government-issued identification cards. This is done to ensure that the platform is kept free from bad actors. The platform is compliant with Anti-Money Laundering and Counter-Terrorism Financing regulations. It is worth noting that the company is also registered with AUSTRAC, a foremost financial regulator in Australia, and the UK’s Financial Conduct Authority (FCA).
Markets
There are over 60 CoinJar trading pairs available on the platform. These pairs are traded in two markets – crypto and fiat. In the crypto markets, the major coins supported include BTC, USDT, and USDC, while the currencies supported in the fiat markets are AUD and GBP. Furthermore, the CoinJar spot is the only trading option available. The platform does not support margin or leveraged trading options.
The exchange has a straightforward fee system when it comes to trading. Essentially, every time you buy or sell a cryptocurrency on the platform, you’ll be charged a CoinJar exchange fee of 1%. In terms of maker and taker trades for AUD pairs, the fees charged depend on the user’s CoinJar trade volume over a period of 30 days. For instance, traders with trade volume below 100 thousand AUD pay 0.1% for maker and taker trades. As a user’s trade volume increases, the trading fees reduce as well. For crypto-to-crypto pairs, all maker trades are free while a 0.6% CoinJar crypto price is charged on all taker trades.
Furthermore, CoinJar crypto exchange charges 1% for converting cryptocurrencies to fiat and vice versa, 2% on Mastercard/Visa card crypto purchases, and 2% on Apple pay and Google pay purchases. Physical ATM withdrawals attract a 1% card fee, while foreign transactions attract a 2.99% charge. For withdrawals, the platform does not charge, but there is a 1.5% CoinJar crypto fee on fiat deposits through Blueshyft.
Other Services
Apart from trading, CoinJar also offers an OTC Trading Desk, which allows traders to make trades in larger bulks.
Also, there's the CoinJar Card Mastercard. Customers can use this fully functional Mastercard to make transactions anywhere that Mastercard is accepted by changing their crypto into AUD or GBP.
Lastly, the exchange offers CoinJar Clear. It is a white-label cryptocurrency solution utilized by companies providing financial services such as stock trading, cashback, purchase-now-pay-later, and others.
About the Company
Asher Tan is the co-founder and CEO of CoinJar. In 2013 he saw an opportunity to unite his passion for finance and technology, establishing what became CoinJar – a range of fintech products including a cryptocurrency wallet, exchange, and credit card.
Ryan Zhou is another co-founder of CoinJar. He is a hands-on full-stack engineer and finance expert. In addition to building CoinJar, Ryan has completed a Bachelor of Commerce, obtained a CFA charter, and completed a Master of Science (Computer Science) at the University of Melbourne. He was listed in Forbes 30 Under 30 Asia 2018.
In May 2021, CoinJar cryptocurrency exchange became the first crypto company in Australia to sponsor an Australian Football League (AFL) club by partnering with the Melbourne Demons. The company is also a partner of Brentford FC, a premier league football club.
In January 2023, CoinJar trade volume fluctuated around $1.5 million.
