CoinJar UK Review
What is CoinJar UK?
CoinJar UK is the British branch of the Australian crypto exchange CoinJar. The team started working with the CoinJar-projects in May 2013.
CoinJar UK Exchange also has three daily auction windows, low and transparent fees, real-time API access, customisable trading interface and layout and HFT-ready. It features a dark and light mode. CoinJar markets itself as a platform with excellent in-house support.
CoinJar UK Founders
The front fingures and co-founders of CoinJar UK is the CEO, Asher Tan, and the COO, Ryan Zhou.
CoinJar UK Mobile Support
CoinJar UK's platform is not only available from your desktop, you can also access it via your mobile phone as an app. While most trading in the crypto sphere today is carried out via desktop (around 70% or so), there are naturally people out there that want to do it from their smart phone as well. If you’re one of those people, then this platform can still be for you. Apps are available to both Androids and iPhones.
CoinJar UK Exchange Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. At this exchange, the “trading view” is an orderbook style with market depth and price charts, grouped tabs, split windows and column ordering. The interface is built for experienced traders. The below is a picture of the purchase interface at CoinJar UK:
CoinJar UK Fees
CoinJar UK Exchange Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. We call makers for “makers” as their orders make the liquidity in a market. Takers are the ones who “take” this liquidity by matching makers’ orders with their own.
CoinJar charges zero fees (0.00%) for takers and 0.06% for makers, for crypto-to-crypto or crypto-to-stablecoin trades. Trading pairs involving a fiat currency (AUD and GBP) cost 0.10% regardless of whether you are a maker or a taker.
According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is currently 0.2294% and the average spot trading maker fee is currently 0.1854%
Compared to those average trading fees, CoinJar's taker fees and maker fees is substantially below the industry average.
CoinJar UK Withdrawal fees
CoinJar UK provides free withdrawals to British bank accounts through Faster Payments (FPS). You can also withdraw your altcoins for free. For bitcoin withdrawals, the fee was previously 0.0005 BTC.
However, as of 24 June 2020, the withdrawal fee is "dynamically calculated depending on the amount you are sending as well as the blockchain congestion level at the time of sending". The exchange recalculates the fee every 15 minutes. For comparison purposes, we have listed their withdrawal fee as the network fee, although it is likely slightly higher.
At CoinJar UK, you can deposit from your bank account (using FPS), which are both fee-free and takes 1 hour or less. That is, in addition to deposits by cryptocurrency that are possible through CoinJar UK’s wallet services. This can be helpful especially for newer crypto investors and also makes CoinJar UK what we call an “entry-level exchange”.
Credit or debit card deposits are however not available.