CoinJar Review (2020)

CoinJar Review (2020)
  • Ease of Use
  • Beginner Friendly
  • Payment Options
  • Speed
  • Fees


CoinJar allows UK and Australian residents to buy, sell, and store Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more. Registration and verification is quick, taking just 10 minutes from start to finish for me. Once you’re in, CoinJar’s website and mobile app are simple and easy to use.

UK residents can only deposit GBP via a UK bank transfer right now, but funds are credited to your account within minutes after your first deposit. CoinJar’s fees are competitive too, but it does look like you’ll pay higher exchange rates when buying some cryptocurrencies.

This post has been sponsored by CoinJar, but I’ve produced this review myself and I have full editorial control of what is said (just like everything else on

What is CoinJar? How does it work? Can you trust this platform?

In this CoinJar review, I’ll clear up all the questions you might have about it – including what countries can use it, supported cryptocurrencies, how its fees work, and more.

Advantages & Disadvantages


  • Established in 2013.
  • 4* Trustpilot rating (over 1200 reviews).
  • Verified in less than 10 minutes.
  • GBP deposits are credited quickly (within minutes after your first deposit).
  • Makes it quick, simple, and easy to buy and sell supported cryptocurrencies.
  • Has an excellent mobile app (iOS & Android).
  • Supports Bitcoin (BTC) and 9 other cryptocurrencies.


What Is CoinJar?

CoinJar is an Australian company which was established in May 2013. However, it has been registered as a UK limited company since February 2014. The co-founders are Asher Tan (CEO) and Ryan Zhou (COO).

Here are some quick facts about CoinJar:

  • They have over 400,000 users.
  • They actively manage about £50 million worth of assets.
  • They have helped exchange more than £750 million worth of assets.

It’s financed by a few venture capital firms, which includes Digital Currency Group, Boost VC, and Blackbird Ventures. You can find out more on CoinJar’s Crunchbase page.

They have a 4* Trustpilot rating with over 1200 reviews. The most common complaints seem to be about CoinJar’s fees and its slow response to support requests.

How Does CoinJar Work?

When you use CoinJar, you’ll be buying or sell cryptocurrencies directly with CoinJar. You cannot negotiate or set a custom price with them and will only be able to buy and sell at the prices that they offer through their online portal.

This is similar to what’s offered by Coinbase or Wirex.

For more experienced users, it also offers CoinJar Exchange. This a cryptocurrency exchange which is similar to Coinbase Pro or Kraken. When you get a CoinJar account, you’ll automatically be given access to CoinJar exchange too.

CoinJar Exchange has lower fees than CoinJar and allows you to submit advanced order types (i.e. taker or maker, with some time enforced options). If you’re a trader, it also has some other features that you’d expect from a cryptocurrency exchange.

Supported Countries

You can only buy and sell cryptocurrencies on CoinJar if you’re a resident of the UK or Australia.

If you’re located outside of the UK or Australia, you can still register an account on CoinJar. However, you’ll only be able to use it as an online cryptocurrency wallet (i.e. send, receive, and store cryptocurrency).

Supported Cryptocurrencies

CoinJar currently supports the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Zcash (ZEC)
  • USD Coin (USDC)
  • Dai (DAI)
  • Basic Attention Token (BAT)
  • 0x Token (ZRX)
  • Stellar Lumens (XLM)

CoinJar actively assesses other cryptocurrencies, so it’s likely that more will be added to this list in the future.

Payment Methods

UK residents can only deposit GBP into CoinJar with a UK bank transfer via the Faster Payments Service (FPS). The minimum deposit is £5, and the upper limit is £10,000 per day.

When I tested CoinJar, my initial deposit was credited in about 3 hours. The follow-up deposit I made a few hours later was credited to my CoinJar account in less than 5 minutes, which is what you’d expect from a payment made via the FPS.

Australian users can deposit AUD into CoinJar via PayID, BPAY, and Blueshyft:

  • PayID utilises the New Payments Platform (NPP), which means it should be credited near instantly. However, that’s not supported by all Australian banks just yet. If yours does support PayID, then this seems like the best way to go.
  • BPAY is like a normal bank transfer. It can take days for a BPAY deposit to be credited on CoinJar.
  • Blueshyft allows you to instantly deposit cash into your CoinJar account from a number of locations across Australia.

CoinJar Fees

Unless you’re an Australian looking to deposit AUD using Blueshyft, it doesn’t cost anything to get your money into CoinJar. You can also withdraw GBP or AUD free of charge.

UK Bank Transfer (GBP)FreeFree
PayID (AUD)Free-
Blueshyft (AUD)1.5%-
Bitcoin (BTC)Free0.0005 BTC
Ethereum (ETH) & ERC-20 TokensFreeDynamic
Other CryptocurrenciesFreeFree

The fees you’ll get charged when buying or selling Bitcoin (BTC) on CoinJar seems competitive too.

There’s a flat 1% fee when you buy, sell, or exchange any cryptocurrency.

On top of this, you’ll be quoted Bitcoin (BTC) prices that are above the real BTC to GBP exchange rate. This exchange rate is variable and determined by the best possible price that is available on CoinJar Exchange.

When I tested CoinJar, its prices were about 0.5% higher than the real BTC to GBP exchange rate. As said above, this is variable. You’ll have to check the competitiveness of this exchange rate before you buy.

In total, this meant that I paid about 1.5% in fees when I bought Bitcoin (BTC) on CoinJar.

Wait. How do I check the competitiveness of CoinJar’s exchange rate?

When you’re buying cryptocurrency on CoinJar, they’ll tell you what exchange rate you’re buying or selling at. I’ve highlighted this in the image below.

You’ll need to compare that to the real exchange rate. You can find this out for Bitcoin (BTC) with something like Preev.

Plug these two numbers into this calculator. This will tell you the percentage difference between the two numbers.

When I checked other cryptocurrencies available on CoinJar, the prices I was quoted were a little inconsistent (see table below). Again, this is because the exchange rate you’re offered for each cryptocurrency is determined by the best price on CoinJar Exchange at the time you’re buying or selling.

Cryptocurrency% Above Real Exchange Rate
Ethereum (ETH)0.8%
Litecoin (LTC)2.5%
Ripple (XRP)2.5%
Zcash (ZEC)1.3%
USD Coin (USDC)2.2%
Maker Dai (DAI)1.1%
0x (ZRX)3.3%
Basic Attention Token (BAT)3.5%

If you’re looking to use CoinJar exchange, you’ll pay a slightly lower fee. Instead of paying a flat 1% fee, you’ll pay up to 0.3% in fees (but this is lower depending on your monthly volume).

CoinJar Rewards

When you perform certain actions on CoinJar, you’ll be rewarded with CoinJar Reward Points that can be redeemed in the CoinJar Rewards Store.

You can redeem points for things like gift cards, t-shirts, and socks. You can redeem some points to execute a fee-free currency exchange.

Here’s how you can earn these CoinJar Reward Points:

ActivityPoints Earned
Complete 1BTC Worth of Currency Exchange500 points
CoinJar Swipe Transactions5 points
CoinJar Store Purchases5 points
Refer a Friend Bonus500 points

This isn’t currently available in the UK – but will be rolled out in the near future.

CoinJar Swipe

CoinJar also offers a crypto debit card, called CoinJar Swipe, for Australian users. This has been available for about five years. It can be used anywhere in Australia that accepts EFTPOS (i.e. thousands of locations).

Unfortunately, it doesn’t look like it can be used overseas or online in many places. You can find out more about this here.

Here are some of CoinJar Swipe’s fees I picked out:

FeeAmount (AUD)
Card Issuance Fee$29
Loading Fee (AUD)Free
Loading Fee (Crypto)Normal CoinJar Exchange Fees Apply
EFTPOS PurchaseFree
EFTPOS Withdrawal (Cash Out)Free

And these are CoinJar Swipe’ limits that you need to know about:

LimitsAmount (AUD)
Daily Transactions25 Transactions
ATM Transactions10 Interactions
Daily Top-up (Rolling 24hr)$999
Daily Spend (Rolling 24hr)$999

CoinJar Swipe isn’t available in the UK right now, but they’re working with card providers to deliver a similar experience. If you want something you can use right now in the UK, check out my overview of your best bitcoin debit card options.


Coinbase Twitter header

The closest alternative to CoinJar is Coinbase.

Like CoinJar, Coinbase is great for beginners who have never bought, sold, or stored cryptocurrencies like Bitcoin (BTC) before. Its fees aren’t market-leading, but it’s a great way to quickly and easily buy and sell cryptocurrencies.

Head over to Coinbase’s website to learn more.

I’ve reviewed lots of other ways that you can buy Bitcoin (BTC) in the UK. Check out this post for an overview of the best ways to buy Bitcoin (BTC) in the UK.


CoinJar seems like a decent option for UK and Australian residents.

CoinJar’s platform has a simple design, which is easy-to-use and perfect for beginners who want to quickly buy and sell Bitcoin (BTC) and other supported cryptocurrencies.

If you’re looking to buy Bitcoin (BTC), CoinJar’s fees seem competitive too. When I tested it out, I paid about 1.5% in fees. However, this varies day-to-day. When I checked on a different day, their fees worked out slightly higher at 2%.

For more advanced users, there’s also CoinJar Exchange. It doesn’t have much GBP trading volume, but it seems to have most of the basic features you’d want from a cryptocurrency exchange. You’ll also pay lower fees if you use CoinJar Exchange.

Register on CoinJar’s website (and get verified in 10 mins).

Have Questions?

Thanks for reading this CoinJar review!

Still have some questions? Let me know in the comments below and I’ll get back to you ASAP!

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