CoinJar Fees: A Guide to Prices Incurred While Trading

Navigating fees when using a cryptocurrency platform like CoinJar can feel overwhelming, but it doesn’t have to be. This guide breaks down the fees you might encounter when depositing, withdrawing, trading, or sending cryptocurrencies on CoinJar, making it easy to understand what you’re paying for and why.

Fiat Deposits and Withdrawals: No Fees for Most Methods

When you deposit or withdraw fiat currencies like Australian Dollar (AUD), British Pound (GBP), or Euro (EUR) to and from your CoinJar account, you’re in luck, most methods are free! Here’s a quick look at common fiat deposit methods:

-PayID Deposit (AUD): Free

-Bank Transfer (AUD): Free

-Faster Payments (GBP): Free

-SEPA Deposit (EUR): Free

However, if you dispute a deposit transaction or request an investigation with your bank (for any reason, including fraud), a dispute fee of AU$38.50 will apply. So keep this in mind when managing transactions.

Cryptocurrency Deposits: Free Across the Board

Good news for crypto enthusiasts: Depositing cryptocurrencies into your CoinJar account is completely free, whether you’re receiving funds from an external wallet or another CoinJar member. No hidden costs here!

Instant Buy and Recurring Buy: Convenience Comes with a Fee

If you’re looking to buy cryptocurrency quickly using a Visa or Mastercard, CoinJar’s Instant Buy and Recurring Buy options are convenient but come with fees:

-Instant Buy (Visa/Mastercard, Apple Pay, Google Pay): 2% fee

-Dollar Cost Averaging with CoinJar’s Recurring Buy (Visa/Mastercard): 1% fee

Keep in mind that additional fees may be applied by your card provider. This is outside of CoinJar’s control and you should always check with your bank.

Trading Fees: A Flat Rate for Simplicity

When you convert between cryptocurrencies or between fiat and cryptocurrencies, CoinJar charges a straightforward 1% fee based on the transaction amount. This applies to:

-Converting fiat to cryptocurrency

-Converting cryptocurrency to fiat

-Converting one cryptocurrency to another

This flat rate keeps things predictable, so you always know what to expect when trading.

For advanced traders, CoinJar Exchange offers a highly competitive fee structure, ranging from 0% to 0.1%, designed to maximise value for high-volume transactions.

How CoinJar Sets Its Prices

There’s always a difference between the buy price and the sell price — this is called the spread.

-If you’re trading about $2,000 AUD, you’ll probably get the price you see.

-If you’re trading a lot more money, the gap (spread) between the buy and sell price might be bigger.

-If you’re trading a smaller amount, the gap might be smaller.

Sending and Receiving Cryptocurrencies: Network Fees Apply

Sending cryptocurrencies to another CoinJar member is free, and receiving crypto into your CoinJar account is also free. However, sending crypto to an external wallet may incur a dynamic network fee, which depends on:

-The cryptocurrency being sent

-The blockchain’s congestion level

-The transaction size

You can see the exact fee before confirming a transfer.

What are CoinJar Fees?

CoinJar keeps fees simple and transparent, with no charges for most fiat and crypto deposits, a flat 1% trading fee, and dynamic network fees for external crypto transfers.

Buying with a card, and Recurring Buy options carry higher fees for convenience, and CoinJar Exchange has its own fee structure for advanced traders.

Always review the quoted fees before confirming any transaction, and check CoinJar’s settings to customise your reference currency for a clearer view of your account’s value.