In this review, we will explore the importance of Australian crypto wallet and bitcoin exchange CoinJar. It is an online financial platform that allows the clients to purchase, sell and manage cryptocurrency using traditional fiat currency.
The company was established in May 2013 by Asher tan and Ryan Zhou. Additionally, the company caught the eye of early startup investor AngleCube who have provided the seed funding and mentorship.
The company describing itself as a “next generation finance account” over its 6 years of operations. Moreover, a platform has accumulated 400k+ users and has processed over $1.5 billion worth of transactions.
Store you cryptocurrency: Coinjar platform provides security features like multi factor authentication.
Bitcoin wallet: This platform offers to securely hold, transfer and trade bitcoin on your phone.
Available on mobile and desktop: CoinJar’s mobile application – Coinjar touch makes it easy to keep tabs on your cryptocurrency portfolio. Additionally, it is available on both mobile and desktop. You can manage multiple currencies and search your transactions history.
Hedge against fiat currency: You can use CoinJar hedge accounts to peg your cryptocurrency against GBP, EURO, USD.
Multi-currency bank accounts function: You can hold different currencies to your Coinjar account or link your bank account to Coinjar.
Bitcoin trading: Platform allows a trader to buy and sell bitcoin as needed, at a fair market price.
Two Main Services
1. Multi-Currency Wallet
Multi currency wallet offers personal finance account to buy, sell, store cryptocurrencies like Bitcoin, Ripple, Litecoin, XRP. Moreover, hedge accounts are available if you want to temporarily store your digital currencies in the form of alternative fiat currency to avoid crypto price fluctuations.
2. Digital Currency Exchange
Coinjar exchange is a digital currency exchange for experience traders. Moreover, The exchange allows you to trade bitcoin, litecoin, ethereum and XRP. And Its features include market depth and price charts, a customizable layout, time enforced order types and a dedicated trading API.
- Signing up to Account
1: Go to the official website “coinjar” and select sign up to create Coinjar account.
2: Fill the details and after filling details you will be sent an email with activation link.
3: Follow your activation link to sign in to your account and select the username.
- Sending coins
- To send coins click payments -> click pay
- Send from: select your default wallet (everyday bitcoin)
- Send to: type the address of the person you want to send coins
- Click -> review and confirm.
- Receiving coins
- To receive coins, click > Accounts > Everyday Bitcoin account.
- Once you’ve clicked on Everyday Bitcoin account you will be redirected to another page.
- Then click on View address, copy and paste that address to your friend or to the person that you want to receive money from.
- Click on View address, copy and paste that address to the sender.
Also, Coinjar’s fees are quite low in comparison to other Australian bitcoin exchanges.
Coinjar swipe is a cryptocurrency debit card which allows you to spend digital currency anywhere that accepts EFTPOS in Australia and also make cash withdrawals at any ATMs.
Benefits of Swipe
Make purchases: Coinjar swipe debit card can be anywhere that accepts EFTPOS in Australia.
Withdraw your cryptocurrency in cash: Using coinjar swipe debit card you can withdraw cryptocurrency into cash in any ATMs in Australia.
Earn rewards as you spend: Platform provides 5 Coinjar reward points for every transaction you make using coinjar swipe debit card. Additionally, which you can redeem in store.
- Easy to use and good for beginners
- Available for mobile devices
- Two-factor authentication
- Highly recommended and well reviewed
- More than just an exchange, it allows you to spend and use Bitcoin
- You can hedge bitcoin against several major currencies
- Can be used to send money around the world instantly
- Many of the features are restricted to Australian residents only
- Only offers few digital currencies to access.
- Lacks multi-signature capability
- Not an open source.
Overall it is one of the largest cryptocurrency exchange in Australia. Moreover, the company is next generation personal finance account that lets you to buy, sell, spend bitcoin and you can deposit to platform’s account or simply link your bank account to your platform’s account to tap into the bitcoin network anywhere, at any time.
Hope you like the post and let us know your review on this article in our comment section. Moreover, for more information, you can visit their official website.