The platform excels at the basics, but is missing a few more advanced trading features. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Hi Ben, sorry to hear about your experience and thank you for the feedback. It is never worth the risk to send sensitive financial documents to any company just to trade some crypto, I would never send bank statements and payslips to any company, that information is all an identity thief needs to steal your whole life. I refused and they told me the only way I could close my account was to sell the crypto I just bought a week ago, withdraw it and then close the account.
Coinjar provided me with timely, friendly and excellent service. This means that in a small number of instances we need to ask customers about transfers without providing a reason for doing so. If what I stated is not good enough, then return my funds, I will find a better, more reliable service. Whether you’re just starting or an experienced trader, our platform is the easiest way to buy, sell, store and spend digital currency.
This is now my third review and I am…
But, does the platform deliver on all these offerings, and how does it stack up against other exchanges? For those who are exploring the crypto space, CoinJar is more than just an exchange. Targeting the markets of the United Kingdom and Australia, CoinJar comes with the promise of a beginner-friendly crypto exchange. This is reflected in the platform’s TrustPilot score of 4.1/5 from 2,000+ reviews. Despite lacking ways to contact customer service, tickets will be responded to throughout the week and even on weekends.
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You have my I.d.s , my bank accounts, my passport, and there is a paper trail..So what’s the problem And how hard do u make it to just s3nd u a simple email.!! Ur support says they do not know why u r refusing to let me buy or sell or transfer funds out of Coinjar.. This means that in a small number of instances we have to close a customer account without providing a reason for doing so. I have sent many customer support messages, even a complaint form. As a result, the funds were not credited to your CoinJar account.The UK Travel Rule legislation which came into effect on 1 September 2023 and it impacts all UK residents.
Worst exchange ever
And if you want to speak to someone, you can submit a support ticket, and they’ll get back to you shortly via email. On the website, there’s a large support centre, which pretty much answers any question you might have. Bundles are managed by CoinJar themselves, and they’ll change the investments within the bundle based on certain criteria. There’s also things like popular coins that run on the ethereum blockchain, or popular alt coins (among many others).
CoinJar Mobile App
You can conveniently buy a bundle instead of buying all the different coins individually. They’re pre-packaged groups of coins that CoinJar has put together. New coins are added if they become popular and have long term potential for traders and ‘hodlers’ (those who just buy and hold). It’s not a huge amount, but there’s over 60 of the most popular – which include coins like bitcoin, ethereum and dogecoin.
What to Know About Cryptocurrency Scams
- Overall, we think CoinJar is a top option, especially if you’re new to crypto.
- This fee is more than reasonable for such a service, especially in Australia.
- And with the CoinJar Card, even spending crypto elsewhere has been made easy.
- CoinJar nonetheless has a very strong focus on platform protection, and partners with large, well established companies to hold custody of crypto in a protected manner.
- Thank you for bringing a local service to us, enjoying the platform
Lots of the reviews for CoinJar mention how helpful the support team are, and how user-friendly the app is. CoinJar nonetheless has a very strong focus on platform protection, and partners with large, well established companies to hold custody of crypto in a protected manner. Unfortunately, if you buy directly with a card (e.g. a visa or mastercard), you’ll pay a 2% fee, and the same via Apple Pay and Google Pay. If you want to withdraw crypto, there’s a ‘dynamic’ withdrawal fee, and how much depends on the crypto you want to withdraw, and things like how busy the crypto network is.
All new customers need to supply is their full name, an email, and a “strong” password. Due to standards set by the Australian government, users will need to create a Self-Managed Super Fund (SMSF) account that is separate from their account. The crypto bundles that CoinJar offers are fairly standard as they focus on is coinjar legit high market cap coins.
Nuts About Money rating
Like most reward systems, the equation of money spent to coins earned is disproportional. There are some excellent services that novice and more advanced crypto traders will find useful. The CoinJar Card is a great entry-level debit card for crypto enthusiasts due to the rewards it generates. Admittedly, the idea of crypto is ultimately to usurp banks with cheaper transactions, but while adoption is still low, these rates are perfectly fine.
Supported Fiat & Crypto Deposit Methods
- This feature is a testament to CoinJar’s commitment to providing a secure trading environment, which is a critical consideration in the crypto space.
- Customers need to be vigilant as thefts from personal accounts become more common
- These are significant considerations for potential users.
- Users who wish to complete identity verification must do so on CoinJar’s mobile app – there’s no option to complete it on the desktop platform.
We may earn a commission from links on our site, but this doesn’t affect our reviews. Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines. Verification can help ensure real people are writing the reviews you read on Trustpilot.
Because CoinJar functions as a custodial cryptocurrency wallet and exchange, you don’t have control over the money it stores. It does not offer investment advice or demo accounts, and investing in cryptocurrencies through the CoinJar platform carries inherent risks with no protection if something goes awry. With no deposit or withdrawal fee in AUD, EUR, and GBP, it seems CoinJar is making an effort to make funding wallets and bank transfer funds a user-friendly experience. CoinJar is no exception, positioning itself as a user-friendly platform suitable for those entering the world of cryptocurrency investing for the first time. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. This lets customers access their accounts and crypto portfolios from anywhere in the world.
This appears to be due to a higher rate of occurrence for bugs on Android devices compared to iOS phones – something worth considering if choosing this exchange. On top of this, most of CoinJar’s updated FAQs use pictures from the mobile app rather than the desktop platform. For example, identity verification and setting up the CoinJar card must be completed via the app. CoinJar has slowly been streamlining its products onto the app as the exchange inches toward being mobile-first. CoinJar has a well-developed mobile app for iOS and Android smartphone users. That said, it lacks certain accessibility features like charts or fast, in-depth portfolio tracking that other platforms can offer.
The CoinJar Rewards system has evolved into one of its landmark features even though it is a relatively new addition to the exchange. In addition to 1% of transactions being converted to CoinJar Rewards points, every dollar spent will also earn cardholders another point. There is also a flat 1% fee for ATM withdrawals and a foreign transaction fee of 2.99% – both of which are totally reasonable and comparable to traditional financial costs.
Signing up for a CoinJar account begins on their website. And with the CoinJar Card, even spending crypto elsewhere has been made easy. So we’re ready to put these claims to the test and see if CoinJar really is the novice-friendly platform it claims to be. It’s not uncommon for companies to make bold claims about their products and services. We’ll clarify whether CoinJar is a fit for your trading journey, without the fluff or hard sell. Investing in cryptocurrencies comes with significant risk.
Some self-directed IRAs do allow investment in virtual currencies, but the Internal Revenue Service does not approve or review these investments. They’ll guide you to an investment website that looks real but is a clever fake. Phony investment managers.