A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can also find the best cryptocurrency exchange site for you. This review of CoinJar consists of four parts: general information, fees, deposit methods and security.
CoinJar is an Australian cryptocurrency exchange. It is only open for Australian investors. Australia has its fair share of cryptocurrency exchanges, and the list includes: BW.com, BitRabbit, CoinExchange.io, CoinSpot, BTC Markets, TOPBTC, CoinJar, Independent Reserve, ACX and CoolCoin.
The platform 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 based in Australia.
CoinJar 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:
CoinJar Trading fees
The fees here are transparent and amount to 0.50% for takers when you trade between Australian Dollar and crypto (e.g. BTC or ETH). And 0.00% for makers! But even better, if you trade crypto-to-crypto, the trading fee is only 0.10% for takers and 0.00% for makers. These fees are below the corresponding global industry averages. The below picture shows the fees in more detail:
CoinJar Withdrawal fees
CoinJar provides free withdrawals to Australian bank accounts. You can also withdraw your altcoins for free. For bitcoin withdrawals, the fee is 0.0005 BTC.
At CoinJar, you can deposit from your bank account or via cash, which are both fee-free and instant. That is, in addition to deposits by cryptocurrency that are possible through CoinJar’s wallet services. This can be helpful especially for newer crypto investors and also makes CoinJar what we call an “entry-level exchange”.
One might ask why the security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. This is primarily based on two things:
- Exchanges store a massive amount of valuable personally identifiable information. From names to addresses, to government identification details, taxpayer identification number and a lot more; and
- Moreover, the exchanges handle a lot of cash or coin deposits and withdrawals.
CoinJar’s security score is C+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is actually a very good score! Most exchanges in our Cryptocurrency Exchange List only receive an F.
Finally, as mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: