They continiously were asking what is the exchange I’m sending the crypto to and didn’t understood that my address is an addrerss of WEB3 walletas result they didn’t allow me to move the crypto outside and told me that returned the funds back to an Everyday Account. Since coinjar frozen my account last year Dec, then I wrote the true story for what I’ve been through online,then coinjar reported me money laundering. Edward Savage is a leading expert on money, with a background of 8 years working in financial services in London, has a business, accounting and finance degree, runs an investing community, and teaches people about money. It’s user-friendly, on both their website and via a mobile app, and only takes a few minutes to set up and buy crypto (either via bank transfer or debit card).
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.
It’s also free to transfer crypto into your CoinJar account. It’s fairly swift, and having a real person handle your support is helpful – and not something you come across that often in crypto. For instance, you could buy a bundle of ‘DeFi’ coins (decentralised finance, which are crypto projects related to finance on a blockchain (crypto network)). This is a pretty cool feature that you don’t typically find on many other exchanges – with CoinJar, you can buy ‘bundles’ of coins (groups of coins). CoinJar is easy to use, secure, and has low fees. There’s also a more advanced exchange (called CoinJar exchange), suited for more regular trading (buying and selling), typically more suited for advanced traders, or those looking to learn and develop trading skills.
Nuts About Money
You can conveniently buy a bundle instead is coinjar legit 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.
Customer Support
- There’s also things like popular coins that run on the ethereum blockchain, or popular alt coins (among many others).
- Very prompt, precise and supportive!
- I should have gone with my gut and used a different platform for my transaction.
Not only that, but the exchange has pretty poor liquidity, so high-volume investors might need to look elsewhere. At the moment, only Australian residents can access the Earning program—UK investors will have to wait or use a different platform. Overall, the CoinJar Earn service is a nice addition to the growing list of features.
Top Features on CoinJar Reviewed
This seamless interface can be a game-changer, especially for those new to the crypto space, making their journey less overwhelming and more enjoyable. For users in different regions like Australia, Europe, and the UK, PayID, SEPA, or Faster Payments methods can be used. It requires entering personal information, providing a government-issued photo ID, and sometimes an additional document, followed by a selfie as per the app’s guidelines. This unlocks additional features such as bank transfers and the use of the CoinJar Card. Once the account is activated, you are prompted to choose a CoinJar username and verify your identity. Please note that you must be at least 18 years old to use the service.
Therefore, caution is advised when using money laundering. These are significant considerations for potential users. However, like any other platform, CoinJar has its drawbacks. From beginners to seasoned crypto enthusiasts, CoinJar has something for everyone. It certainly seems to cater to a broad spectrum of users. With the added convenience of CoinJar Swipe, using cryptocurrencies becomes comparable to using traditional fiat currencies.
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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.
Supported Fiat & Crypto Deposit Methods
Overall, the low fees and flexibility of the CoinJar Card make it one of the practical crypto debit cards available to Australians. CoinJar Card is a crypto debit card that allows users to spend digital currency at any in-store or retailer that supports Mastercard. It is the worst experience I have ever had with a crypto exchange and clearly a sign that they cannot handle even small amounts of crypto trading/exchanging. You have to wait one week before you can send the crypto, which I did, but then when I eventually sent it to my cold wallet my account was put on hold and I was told that I had to submit bank statements and pay slips in order to send the funds!
Transaction Fees
- This is a pretty cool feature that you don’t typically find on many other exchanges – with CoinJar, you can buy ‘bundles’ of coins (groups of coins).
- Unlike the value of government-backed money, that of virtual currencies is driven entirely by supply and demand.
- It offers some of the world’s lowest fees, ranging from 0% to 0.1%.CoinJar is Australia’s longest-running cryptocurrency exchange, headquartered in Melbourne, with additional offices in the United States, the United Kingdom, and Ireland.
- Great service, quick, concise and informative.
Still on forever time to investigate…this is what coinjar did to me. More than 20 years of combined experience researching and writing about money We’re experts in all things money, with years of combined experience working in the finance industry and writing about money.
Maybe CoinJar just doesn’t want anyone to use their platform they make things so difficult for the average person to use. I’ve sent USDT to this wallet address so many times in the past and the transaction is blocked again! And contacting support is useless because no one responds! My issue is that the help and support function is so slow I’m not even sure my request is being looked at? Use to use them all the time for years infact, however now every single transaction big or small needs a 48 hour min review – this is just crazy.
Crypto is an industry where customers aren’t normally treated that well, or customers get frustrated using the platform, and ratings are normally around 1 or 2 out of 5. There’s also a 1% fee if you want to convert your crypto to another cryptocurrency (which is a lower cost option if you were planning to sell a coin to cash, then buy another coin). This is the main fee that you’ll pay, and it’s conveniently a fee when you buy crypto with cash. It’s not a fee set by CoinJar, but a fee for sending transactions on the network itself – and happens with all crypto exchanges.
Despite these risks, CoinJar proves to be a reliable platform for crypto trading. Its simple interface, integrated wallet, and diverse portfolio of trading options make it a suitable platform for those looking to venture into the world of crypto. However, compared to other exchanges, CoinJar’s feature set is limited, providing fewer coins and less advanced trading options.
It’s a platform that offers a seamless experience, from buying and selling cryptocurrencies to managing them in a secure, built-in wallet. It boasts built-in wallets for managing cryptocurrencies and the ability to make instant card payments, features that are designed to make the platform accessible to all. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.
The FBI began Operation Level Up as an attempt to identify and warn victims of investment scams. Unlike the value of government-backed money, that of virtual currencies is driven entirely by supply and demand. The Federal Trade Commission (FTC) warns consumers that crypto investing comes with many risks, including scams. A different privacy policy and terms of service will apply.
