CoinJar Wallet Review
CoinJar Wallet is a secure digital asset wallet. With CoinJar, you can access your portfolio on both desktop and mobile. It offers an intuitive platform to hold digital assets with enhanced security features, which are enterprise-grade.
Users often refer to CoinJar as the Australian Coinbase. This nickname is not far-fetched when you consider the wallet’s features that allow conversion between Australian dollars and BTC. Another interesting fact is that you can access the wallet from any location in the world.
CoinJar Digital Currency and Exchange Services is a private limited company registered in England and Wales. Asher Tan and Ryan Zhou founded the company in May 2013 in Melbourne, Australia. Its services allow users to buy, sell, store and spend digital assets. The company has mediated over 1.5 billion dollars’ worth of trade since inception. CoinJar is the longest-running Bitcoin processor in Australia. As one of the company’s key products (alongside the exchange and the debit card), CoinJar runs the digital asset wallet.
CoinJar has assets worth over 100 million dollars in custody. The company has the backing of reputable investors. These include Blackbird Ventures, Boost VC and the Digital Currency Group.
Generally, CoinJar’s wallet service is very beneficial to beginners. Experienced traders also have a lot to gain. Traders can easily convert fiat currency (AUD) to digital assets. The icing on the cake is the prepaid debit card. With the card, you can simply swipe and pay for services.
Its exchange platform processes transactions of popular digital assets through convenient payment methods. For a review specifically on the exchange, click here. To name a few, alternatives to CoinJar include Exodus, Jaxx, Coinbase wallet and MEW.
CoinJar Wallet Supported Coins
CoinJar supports 17 different cryptos. It also supports Australian Dollars.
Check our Cryptocurrency Exchange List to find trading platforms where you can purchase these cryptocurrencies.
CoinJar Wallet Fees
A transaction fee is required to complete BTC transfers from CoinJar to an external address. CoinJar attaches an appropriate fee to your payment based on the amount you are sending and the blockchain congestion level at the time.
ETH, LTC, XRP and ZEC transactions are free.
Different fees apply to the different CoinJar services. All fees are charged in Australian Dollars (AUD). CoinJar also charges deposit fees.
The main services include
- CoinJar Broker: Allows you to buy/sell your digital assets.
- CoinJar Exchange: This is the trading platform. Here users can trade ETH, LTC, and XRP against BTC. The digital trading platform is for more experienced traders.
- CoinJar Swipe: This is CoinJar’s crypto debit card. The debit card allows you to spend your digital assets. You can also withdraw them as cash at ATMs using CoinJar Swipe.
CoinJar’s brokerage fees apply to buy prices when buying crypto, and sale prices when selling.
The following fees apply to trading on the CoinJar Exchange rather than just buying or selling.
CoinJar Swipe fees apply to usage of your crypto debit card.
NB: The debit card maximum limits for daily top-up and spending is $999. The maximum balance is also pegged at $999. Users can only make at most 25 transactions (swipes) per day. They are also limited to 10 ATM withdrawals.
CoinJar Wallet Price
BitGo wallet is free to use. You can find CoinJar Touch, which is the mobile app, on the respective app stores. To use the web version, visit the official CoinJar website.
CoinJar Wallet Ease of Use
If you are looking to use a crypto wallet for the first time, you should try CoinJar. The interface is quite simple with no hidden buttons. The web page is quite attractive with the menu at the left side of the screen crypto accounts displaying your portfolio at the middle.
You can add accounts/wallets using the “add an account” feature.
The Buy/Sell feature displays the order page for easy access.
The web page seems easier to use when compared with the wallet app.
CoinJar uses data encryption, transport layer security, periodic security audits as part of their security architecture. In addition, CoinJar uses advanced machine learning techniques to recognize suspicious logins, account takeovers and financial fraud. Other security features include:
2FA: It is advised that you “set up enhanced security” as soon as you sign up.
Passcode: Using the mobile app, you can set a passcode by which you can access your wallet. This will restrict third party access to your wallet in case someone else has your device.
Cold Storage: According to the developers, about 90% of customers’ funds are stored offline. In addition, online funds are secured with multi-sig technology.
Where to get CoinJar Wallet?
To get the wallet, just sign up on the official CoinJar website. You will find the mobile applications on the respective app stores for Android and iOS devices.