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In this Coinjar app review, I will dive into one of Australia’s oldest cryptocurrency exchanges. This will include insight into the features the Coinjar exchange app offers its users. Including a Coinjar debit card, investment bundles, sending digital currencies and the ability to buy and sell digital currencies. Hopefully you find this Coinjar exchange review informative and helpful.

What is Coinjar?

Coinjar is an Australian founded cryptocurrency exchange that is also established in the UK. It therefore allows Australian investors and UK investors to buy and sell digital currency. As well as spend crypto through their debit card.

With over 500,000 verified users and over $1billion on the exchange, Coinjar is a legitimate digital currency exchange. Coinjar also attained registration with the UK’s Financial Conduct Authority. Additionally the Coinjar platform is available to individuals and different entity accounts.

A couple of cool features offered by Coinjar include; the Coinjar debit card and Crypto bundles. These features enable you to spend digital currency and also diversify investments across multiple digital currencies.

Coinjar Review Australia

Who owns Coinjar?

Coinjar was co-founded by the current CEO Asher Tan and COO Ryan Zhou in 2013. Coinjar is based in Melbourne and operates under CoinJar Australia Pty Ltd (ABN 75 648 570 807). The Coinjar platform is Venture capital backed, via Blackbird. 

Initially it was created for Australian investors however they have expanded into the UK and other countries in Europe. It is one of the oldest Australian crypto exchanges and one of the first to offer crypto spending through their Coinjar card.

How Does Coinjar Work?

Coinjar is a digital asset exchange that allows users to trade, send and spend crypto with a debit card. Users are able to create an individual account or create an entity account such as a family Trust or SMSF. 

Coinjar provides users with some cool features like spending crypto through their Coinjar debit card. Or advanced trading options and functionality through the Coinjar exchange. Furthermore Coinjar users have access to over 50 different cryptocurrencies.  Additionally it offers a cool integration with Shopa Save allowing users to get cashback rewards converted into crypto.

Coinjar App Review Australia

Coinjar Review Australia – Features

Coinjar has a few features to offer its users. From the Coinjar exchange for active traders, the ability to send and trade crypto and spend crypto with their debit card. Eitherway, these features suit retail investors and institutional investors alike.  Please keep reading this Coinjar app review to learn more about the different features.

Buy & Sell

Coinjar offers over 50 cryptocurrencies for its users. The Coinjar exchange users have access to a more professional trading platform than retail investors. Make sure you do your own research when choosing which crypto to invest in.

You are able to buy and sell crypto with ease on the Coinja appr. It is available on both desktop and mobile devices. The Coinjar mobile app can be downloaded on any app store and is easy to use. 

Coinjar users are limited to the 50 cryptocurrencies available on the platform. While this might be okay and provide you enough choice. For others they may want more variety, in which case Digital Surge of Swyftx are much better options.

Users are able to make instant purchases, which will incur a 1% fee, or set up recurring buys. Additionally users can utilise the advanced trading functionality with volume adjusted fees. If you are looking for instant trading or the bundles, then know 1% trading fees are quite high in the crypto market. Fortunately there are no deposit fees when transferring fiat currencies via a bank transfer.

Coinjar Review Australia – Coinjar Wallet

The Coinjar wallet offers users a digital currency account where they can store their digital assets. It is important to note that this is classed as a hot wallet. This means that the assets are not stored offline. Additionally, it is a custodian wallet, which means Coinjar holds the assets on your behalf.

If you are looking for greater security measures and control, then a self custody wallet solution like Metamask or Phantom wallet would be the best place to start. The Coinjar wallet gives users a place to hold their assets and fiat currency in order to be able to continue trading.

Coinjar App Review Australia

Coinjar Review Australia – Coinjar Bundles

I really like the idea of crypto bundles, for me they are very similar to the philosophy of an ETF. Bundles are a bunch of different assets that replicate a specific theme, therefore diversify your risk across multiple assets.

Coinjar offers users multiple different bundles to choose from, including a De-Fi bundle, The Coinjar universe (which includes every asset on the cryptocurrency exchange) and the Stable bundle to name a few.

Each of these bundles has handpicked assets that reflect a theme. This can be a good way to access the asset class and mitigate risk from holding just one asset. Just because a bundle exists, it doesn’t mean it is a great investment. So ensure you do your own research here.

However, I really like bundles and so does the crypto market. Which is why other cryptocurrency exchanges offer this feature too.

Coinjar App Review Australia

Coinjar Review Australia – Coinjar Card

The Coinjar debit card enables users to spend their digital assets. This is a cool feature the platform offers. The card is linked with your account and can be used in many ways.

The Coinjar card can be used to spend in store or via online transactions. Given it is a debit card you can only spend crypto that you have, and can’t spend credit. Additionally you are able to withdraw cash at an ATM although this will incur a 1% withdrawal fee.

There is no joining fee, or account maintenance fee and you will receive a physical card as well as create a digital one. It links with both apple pay and google pay, making it easier than ever to spend crypto.

Another cool addition is that you will be rewarded with Coinjar points each time you spend. 100 Coinjar points for every $1 you spend using your card. These Coinjar points can be used like frequent flyer points and reduce your fees in the future or trading in the Coinjar rewards store.

I personally am not ready to spend my crypto as I plan to keep accumulating as much as possible. However, I understand that we need people to use these features to get greater adoption of the technology. So I really like this feature, although I look forward to other platforms offering this and forging a better offering for users.

Coinjar Review Australia -Coinjar Exchange

This is a more advanced platform aimed for more active crypto traders. It has advanced charting and trading features like limit orders and stop losses. It has lower fees and trade volume based fees. 

Users should know this user interface is a lot more complex and can be intimidating to new investors. Also it is worth noting that actively trading rarely outperforms passive investing, so don’t get sucked into day trading. Especially as the trading fees add up pretty quickly.

Coinjar App Review Australia
Some Investing Options

Coinjar Shopa Save Integration

Cash back rewards programs have been around for many years and are a great way to drive customer loyalty and retention. It only stands to reason that a crypto offering would do that or perform even better.

This integration from Coinjar and Shopa Save is a great way for users to potentially generate more from the shopping rewards. Users can swap their rewards into bitcoin once they reach a limit of $15. Having the ability to earn rewards in the best performing asset of the last decade is a pretty enticing option for shoppers.

Coinjar Review Australia – Education

For me, one of the biggest indicators of a great crypto platform is their educational content. I want to see a platform that offers content to help their users learn. This way it feels like their users aren’t being taken advantage of.

I am a bit disappointed by Coinjar, as one of the earliest exchanges they had a first mover advantage. Yet, their educational content isn’t that great, especially compared to Swyftx. Don’t get me wrong, they do have a blog. However, it is very hard to navigate and it doesn’t come across as beginner friendly.

They do have lots of content for users to get through. But I would love to see an experience level attached to each piece of content. This way a beginner isn’t getting intimidated by learning how to become a validator when all they wanted was to know what Ethereum was.

It would be great to see Coinjar pay more of a focus towards their education platform. They have a lot of information available with customer support. However I would like to see helpful information easier to find.

Coinjar Education
Coinjar Education

Coinjar Review Australia – Fees

You should always consider transaction fees as one of the most important factors when choosing a cryptocurrency platform. If the fees and spreads are too high, this will eat into your potential profits. 

One thing that is often overlooked with crypto exchanges are the deposit fees charged on transferring fiat currencies from your Australian bank account. With Coinjar, there are no deposit fees charged except for an Instant buy or Blueshyft cash deposit.

Coinjar charges a fixed 1% fee for transferring between digital currency accounts or cash accounts. There is essentially a 2% transaction fee on instant buys or sells, which is rather high compared to other crypto exchanges. Additionally there may be a network fee if you are sending assets to an external wallet. However, if you are sending to another Coinjar account there will be no fee. 

The Coinjar card has no maintenance or issuance fee and charges a 1% fee for online and in store transactions. Additionally there is a 2.99% foreign exchange fee and a 1% withdrawal fee if used at an ATM.

The Coinjar exchange has a volume based fee structure like most other crypto exchanges. The more volume you put through the platform the greater the discount on your transaction fees. This is only relevant for people looking to actively trade.

Coinjar App Review Australia

Coinjar Review Australia – SMSF

A self managed super fund allows you to take full control of how you invest your retirement savings. You could invest in stocks, gold, art, property, crypto or even collectible cars! The possibilities are wide ranging, but it does require a compliant set up and monitoring.

If you don’t have an SMSF but it is something you are considering so you can invest in Crypto assets. You should definitely speak to an accountant or Financial adviser. They will be able to discuss your financial situation and if it’s suitable for you.

For those of you that already have an SMSF, Coinjar does offer the functionality to invest in crypto assets with an SMSF. If you go down this path, make sure your SMSF is compliant and able to invest in Crypto assets.

The Coinjar platform enables users to invest using different entities, including an SMSF, Trust or company account. You will be required to provide supporting documentation if you want to sign up through any of these. This will require wet signatures on supporting documentation and in some cases certifying documents. 

Each application will be reviewed separately by the Coinjar customer support team, and any additional documents will be requested. While Coinjar does offer crypto assets for SMSF investors, there are better crypto exchanges to consider. For example, Digital Surge or Swyftx are much cheaper, offer greater functionality and produce compliant Australian transaction reports.

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Tax Reporting

With the Coinjar exchange app offering users the ability to exchange, send and spend crypto. Knowing your Tax liability can get very complicated.

With extra scrutiny on cryptocurrency investors from the ATO, it is important to get it right. Fortunately there is an automated solution from Koinly that takes care of this all for you. Say goodbye to tracking your crypto holdings with a spreadsheet!

Every time you dispose of a crypto holding there is a capital gain event. Whether it is a gain or loss will depend on your cast base. Tracking this yourself can be very difficult, especially if you are very active with your holdings.

Koinly integrates with the Coinjar app through API. This automated integration and tracking makes everything simpler for you. It produces tax compliant crypto reports for a very reasonable price.

Koinly could be a great option to consider if you want to save yourself time and money getting ready for tax time! You can learn more about Koinly in this Koinly Review.

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Send Crypto

Coinjar Review Australia – FAQ’s

Hopefully you are enjoying this Coinjar exchange review so far. In case you have further questions regarding Coinjar Australia and what Coinjar offers, I have compiled a list of FAQs below.

The Sign-up Process

If you need to set up an institutional or business account the KYC process will be slightly harder than just setting up an individual account. This is because there are more requirements to verify the entity than an individual. 

You may be required to get certified documentation to set up these entity accounts, and they may also require a wet signature. So take that into consideration. Once you have signed up, you can fund your Coinjar wallet from your bank account. Either through a bank transfer or debit/credit card. It is strongly suggested you set up two factor authentication with the app.

Can I trust Coinjar?

The Coinjar app has high level data encryption and conducts periodic security audits to ensure the assets are safe. Coinjar is registered with AUSTRAC and must adhere to both Australian and UK common law.

Who is Coinjar for?

With features like crypto bundles, a crypto spending card and crypto cashback. Coinjar is likely an option for users wanting to be early adopters to the new digital currency world. If you are keen on being able to spend crypto and earn it from shopping then Coinjar would be a good option for you.

For users that are more fee conscious or want a large variety of assets to invest in, then a Coinjar account is not for you. Similarly, if you want to earn yield or stake your digital assets you should look at platforms like Celsius or Swyftx.

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Is Coinjar a wallet?

Coinjar offers users a digital currency wallet, where they can store their assets and fiat currency. It is important to note that this is not a self custody wallet, nor is it a cold wallet. For greater security users may want to explore a self custody wallet solution like metmask.

Is Coinjar legitimate?

Coinjar is an Australian founded cryptocurrency exchange, which is registered with AUSTRAC and the UK’s Financial Conduct Authority. Additionally, Coinjar is a registered company in Australia, meaning it must comply with Australian common law.

Alongside their registration and compliance, Coinjar adheres to a strict data encryption process called the transport layer security protocol. The transport layer security protocol is a way of encrypting all user data that travels between a website or browser. 

Alongside this Coinjar uses AWS firewalls and two factor authentication hardware keys to ensure the highest level of security. All of these factors help make Coinjar a legitimate platform.

How do I trade on Coinjar?

You would need to create an account with Coinjar, and pass their KYC requirements. Once you have done that you will need to fund your Coinjar wallet from your bank account. 

Upon funding your account you could choose between instant investments, setting up a recurring buy or even choose to invest in a crypto bundle.

Coinjar App Review Australia

Is Coinjar good?

This will depend on your specific circumstances. However, if you want to be able to spend your crypto and earn crypto from shopping then I think this would be a good crypto platform. However, if you are more interested in crypto offering and trading fees being charged it is not the best.

What is the best crypto exchange in Australia?

My favourite Australian exchanges are Swyftx and Digital Surge. Swyftx has the most versatility whereas Digital Surge has the lowest fees.

Does Coinjar have an app?

Yes, you can access Coinjar from both your desktop and mobile app too.

Is Coinjar Exchange good?

It provides users with greater trading functionality and a more complex user interface. So it will depend on whether you can get your head around this or not. You get the same Australian transaction reports but better trading functionality and volume based fees.

Coinjar App Review
App Intereface

Is Coinjar Safe?

The Coinjar app utilises all of the latest data encryption and security measures that other cryptocurrency exchanges do. While Coinjar holds assets on behalf of users there is always a risk they could be hacked. However, this is a risk with other crypto exchanges too.

Is Coinjar Worth It?

Based on the features the Coinjar app offers, it will suit people with a specific need. That is the need to spend crypto or earn crypto from their daily shopping. If you fall into this category, then I would say Coinjar would be worth it for you.

If you don’t fall into this category, then I would say the Coinjar app isn’t worth it. This is due to its high fees, small options to choose from and lack of yield or staking. There is just better functionality and versatility on other platforms at a fraction of the cost.

For example if you want to earn interest on your digital assets you should check out Celsius. Or if you require greater versatility and want to stake assets, check out my top cryptocurrency exchange Swyftx.

Coinjar Review Australia- Pros & Cons


  • Crypto debit card
  • Earn Crypto cashback rewards
  • Crypto bundles
  • High level of security
  • Multiple Entity accounts


  • Their fees are on the higher side
  • No staking functionality
  • There is no demo account
  • Limited assets to trade

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Coinjar Review Australia- Alternatives

This Coinjar review has shown some of what Coinjar has to offer. Including a crypto spending card, crypto bundles and crypto cashback to name a few. For some these features are cool and others they may see the costs attached as a bit too high. For the investors that see the limited functionality of Coinjar there are some amazing alternatives.

These alternative platforms include Celsius and Swyftx. Celsius is a lending platform, meanwhile Swyftx is a cryptocurrency exchange.

Celsius is my favourite crypto lending platform, that offers users interest, crypto backed loans and the ability to buy and sell cryptocurrency. Users earn weekly interest on their assets and it offers users a native token.

You can check out my Celsius Review here if you want to see why it is a great platform to earn interest from your crypto.

Another alternative to Coinjar is Swyftx. Swyftx has the most versatility of any crypto exchange on the market. With over 280+ cryptocurrencies to invest in, the ability to stake your assets and the second lowest fees. That is why it is my favourite crypto platform.

You can check out my Swyft Review here if you want to see why it is my favourite..

Coinjar Conclusion

Hopefully this Coinjar app review has provided you with some insight into the features on offer. I think for users looking to spend crypto or earn crypto cash back rewards Coinjar could be a good option. 

However, due to high trading fees and lack of functionality I really don’t think Coinjar is a great platform for cryptocurrency investors. There are better options with lower fees. 

Lowest Fees!
Digital Surge – Buy, Sell & Trade Crypto in Australia

Digital Surge is the Cheapest place to Buy, Sell & Trade Crypto in Australia. Especially through a Trust or SMSF.

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If you enjoyed this Coinjar Australia review and want to spend crypto or earn crypto cash back rewards. Then you can sign up here and earn 500 Coinjar points.

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