CoinJar is a digital currency exchange that lets users buy, sell, spend, and store their digital assets. The exchange is award-winning and backed by venture capital firms. It also features mobile applications in addition to desktop access and the CoinJar Card. CoinJar aims to build valuable applications for digital currencies.
As it was founded in 2013, CoinJar prides itself on being one of the world’s longest-running exchanges for digital currency. There are more than 500,000 CoinJar users who have traded more than £750 million. The exchange is sizable, with more than £50 million in assets under its custody. The co-founders are Asher Tan and Ryan Zhou, now the CEO and COO, respectively.
The CoinJar exchange is set up to appeal to nearly all traders. The simplicity of the platform, including the mobile application, makes it good for casual trading or everyday digital currency use. Day traders and other experienced traders will appreciate the advanced features on the exchange platform.
Standout CoinJar Exchange features
More than 49 pairs – CoinJar gives traders access to more than 49 digital currency pairs. There are also fiat pairs for both AUD and GBP.
Multiple order types – Choose from order types such as “Immediate or Cancel,” “Maker or Cancel,” and “Good til Cancel.”
Data insights – Get insights into data via price charts, market depth, and a live order book.
Interface flexibility – You can reorder the columns, split windows, and use grouped tabs to set up the interface however you want.
Windows for auctions – The three auction windows each day improve your trading opportunities.
OTC trading desk – For trades of more than £25,000, the OTC trading desk offers over-the-counter trades off the exchange. This feature is open to individual traders and institutions and features competitive rates with flexible settlement.
API access – Institutions and traders alike can access the CoinJar Trading API, a REST-style API. It includes comprehensive documentation.
CoinJar Card – The CoinJar card is a digital currency debit card that will soon be available in the UK and Australia.
CoinJar Bundles – These are a CoinJar offering ideal for beginners who want to diversify their portfolio easily. The bundles combine popular digital currencies, and several are available.
Offline storage – More than 90% of digital currencies belonging to customers are stored offline for fund security.
CoinJar Exchange: Pros and cons
Pros
- Features for all levels of trading
- OTC trading Digital and fiat pairs available
- Among the longest-running digital currency exchanges in the world
Cons
- You cannot short coins in trades
- Some features, like CoinJar Card, are only available in a limited number of markets
How to sign up to the CoinJar Exchange
- Enter your first and last name and email address, choose a password, and then click “Sign Up.” Agree to the Terms of Service and Privacy Policy. Optionally, check the box to sign up for the newsletter.
- Verify your email address. Follow the link to enter your phone number and country of residence. Choose your username.
- Deposit funds and start trading.
User interface for the CoinJar Exchange
The CoinJar platform is set up in an intuitive manner and has many features that advanced traders are looking for. You can find the order entry form on the left of the screen. This form appears clean and modern with information including last price, indicative price, auction volume, session volume, and best bid/ask. You can buy or sell, set your order price and size, and set up advanced features.
The charts are in the middle of the screen, with your order history below. The charts can be candlesticks or mountains. Most traders will stick to the candlestick view. You can open multiple charts in tabs or select the drop-down menu to split your chart view to show multiple charts. There are eight time frames to choose from.
The right of the screen features the order book, where you can see orders divided by bid and ask. Each lists its size and price and has a visual indication of its proportion.
The mobile platform will primarily appeal to casual traders and those who use the platform for daily transactions. There is less information and charting available for serious traders. Casual users, however, will love the intuitive use of the application and the range of features available. Advanced traders will also likely use it to check on their trades while away from their computer.
Community engagement
CoinJar has a presence and community following on Twitter, Facebook, LinkedIn, Instagram and YouTube.
The community on Facebook is not too active, with about 8,200 likes and 8,800 follows. Most people appear to use the CoinJar Facebook primarily to get information, not to interact with the community.
The YouTube community includes more than 650 subscribers, and most videos have about 150 or so views. The exception is the introductory video, which has 3,000 views, showing a high level of enthusiasm.
The community is primarily active on Twitter, where CoinJar has 11,000 followers. The community posts multiple times every day on Twitter, with CoinJar typically responding promptly to maintain the conversation.
CoinJar: In summary
The CoinJar exchange is designed to appeal to a range of traders via its various features. Casual traders who are beginners or just want to easily use digital currencies will find most of the features they need in the mobile platform. Serious traders will appreciate the data insights, auction windows, platform customization, and low fees. High-volume traders will feel the appeal of the OTC trading desks for more flexibility and competitive rates.
CoinJar is working on expanding its offerings to more regions. The CoinJar Swipe Card, until recently was only available in Australia and is now being replaced by an all-new CoinJar Card which will be arriving in the UK and Australia soon. The exchange is also adding other features, such as the recent addition of Recurring Buys early in 2021. CoinJar’s website also indicates that algorithmic trading will be coming soon, which should further appeal to regular traders.
Since its founding in 2013, CoinJar has avoided scandals, building a strong reputation. The ability to trade more than 49 pairs helps traders diversify their portfolios and helps ensure that most traders will be able to buy and sell the pairs they prefer.
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