CoinJar is an Australian-based cryptocurrency trading platform that was founded in 2013. It offers a user-friendly interface that allows users to buy, sell, and store Bitcoin, Ethereum, and other digital currencies. In this article, we will provide an in-depth review of CoinJar and its features.
Getting Started with CoinJar
Getting started with CoinJar is a simple process that requires users to create an account and complete the verification process. To create an account, follow these steps:
- Go to the CoinJar website and click on the “Sign Up” button.
- Enter your email address and create a password.
- Provide your personal information and upload a photo ID for verification.
- Verify your email address and complete the verification process.
Once your account is verified, you can start buying and selling cryptocurrencies on CoinJar.
Features of CoinJar
CoinJar offers several features that make it a popular choice among cryptocurrency traders, including:
1. Easy-to-Use Interface
CoinJar has a user-friendly interface that makes it easy for beginners to buy, sell, and store cryptocurrencies. The platform has a clean design with clear instructions and easy navigation.
2. Supported Cryptocurrencies
CoinJar supports a limited number of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. However, the platform plans to add more cryptocurrencies in the future.
3. Wallet Services
CoinJar offers a wallet service that allows users to store their cryptocurrencies securely. The wallet is backed by multi-signature technology and two-factor authentication to ensure maximum security.
4. Payment Options
CoinJar accepts several payment options, including bank transfers, credit cards, and POLi payments.
5. Mobile App
CoinJar has a mobile app for both iOS and Android devices, which allows users to buy, sell, and store cryptocurrencies on the go.
6. Customer Support
CoinJar provides excellent customer support through email and live chat. The platform also has a comprehensive knowledge base that provides users with helpful resources and guides.
Fees
CoinJar charges a flat fee of 1% on all trades, which is relatively competitive compared to other cryptocurrency trading platforms. However, the platform also charges additional fees for deposits and withdrawals, which can vary depending on the payment method used.
When depositing or withdrawing funds using an Australian bank transfer, there are no fees. However, if you use a credit or debit card, a fee of 3% applies. If you use POLi payments, there is a fee of 0.8% for deposits, and withdrawals are free.
Security
Security is a top priority for CoinJar, and the platform has implemented several measures to ensure maximum security for its users’ funds and personal information. These security measures include:
- Two-factor authentication
- Multi-signature technology
- SSL encryption
- Cold storage for funds
- Regular security audits
CoinJar also has a “Bug Bounty” program that rewards users who find security vulnerabilities on the platform.
Pros and Cons of CoinJar
Pros:
- User-friendly interface
- Secure wallet service
- Mobile app for iOS and Android devices
- Accepts multiple payment options
- Good customer support
Cons:
- Limited number of supported cryptocurrencies
- Additional fees for deposits and withdrawals
Conclusion
Overall, CoinJar is a reliable and user-friendly cryptocurrency trading platform that is suitable for beginners and experienced traders alike. Its wallet service, mobile app, and excellent customer support make it a popular choice among Australian cryptocurrency traders. However, its limited number of supported cryptocurrencies and additional fees for deposits and withdrawals may be a drawback for some users.
