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Coinjar vs. Coinbase: Which One is Better?
Luis Clark
- Headquarter: Melbourne, Australia
- Year Founded: 2013
- No. of Cryptos: 50+
- Fiats Available: AUD, GBP
- Fees: Up to 0.08%
- NFTs Available: No
- Native Coin: No
- Beginner Friendly: Yes
- Platform App: Mobile
- Security Features: 2-factor authentication, complex generated password, cold storage, bug bounty
- Headquarter: San Francisco, USA
- Year Founded: 2012
- No. of Cryptos: 160+
- Fiats Available: USD, GBP, EUR, AUD
- Fees: Up to 0.60%
- NFTs Available: Yes
- Native Coin: USDC
- Beginner Friendly: Yes
- Platform App: Desktop and Mobile
- Security Features: Cold storage, Auto- enrolled 2FA,multi-approval withdrawals, insurance
In this article, we compare Coinjar vs Coinbase. To come up with our conclusions about both cryptocurrency exchanges we analyzed each platform’s fees, payment methods, security, unique features, and much more. We achieved this through first-hand experience using both crypto exchanges, expert analysis, and verified user reviews.
Coinjar vs. Coinbase: Verdict
Our pick is Coinbase. The crypto trading platform offers an easy-to-use interface, more digital assets, and caters to both beginner and advanced users.
Pros
- Supports various deposit and withdrawal methods
- It has a Mastercard debit card
- Beginner friendly
- Low withdrawal fees
- Zero fees for takers and low fees for makers
- Low minimum deposit
Cons
- Customer support is only through the website
- No demo accounts available for newbies
Pros
- A low minimum is required to fund accounts
- Supports over 100 cryptocurrencies
- Offers both simple and advanced trading interface
- Offers free crypto rewards
- Self-custodial wallet with private keys available
Cons
- High fees on certain transactions
- Complex fees structure
Coinjar vs. Coinbase: Unique Features
Unique Features of Coinjar
Coinjar Card
The Coinjar card is a prepaid cryptocurrency MasterCard that allows users to make purchases directly from their Coinjar cryptocurrency balance. The card does not need to be preloaded because it spends directly from the funds in the nominated Coinjar Everyday account.
Coinjar MasterCard is accepted anywhere Apple Pay or Google Pay is accepted. The physical card can also be used anywhere contactless payments are not allowed.
Coinjar card supports overseas payments and online and over-the-phone transactions. The card is free to set up and has no monthly fees.
Cardholders earn 1 Coinjar reward point for each dollar spent on an eligible transaction.
CoinJar card can be linked to the CoinJar app. This enables the cardholders to quickly access their card details, spending history, and current balance. They can also change the card PIN, place the card on hold and change the spend account.
The card is secured and covered by Mastercard’s Zero Liability Protection Policy.
Coinjar Over The Counter / Trading Desk
Coinjar OTC is a one-on-one trading desk designed for organizations and individuals that wish to trade about AUD 50,000 or more. Users who wish to opt for the Coinjar OTC desk must have a fully verified Coinjar account. The account needs to be pre-funded with the asset the customer wishes to trade.
Unlike the regular Coinjar account, there are no extra fees for Coinjar OTC. The prices quoted are all-inclusive and the price is guaranteed once both parties in the trade agree to the deal. The quoted price also has a Bid/Ask spread which is dependent on market conditions.
Unique Features of Coinbase
Coinbase Advanced Trade is an advanced trading platform designed for advanced individual traders and crypto enthusiasts. With Coinbase Advanced Trade, users can instantly buy, sell and trade digital assets across various pairs. They also have access to advanced features like monitoring open orders, managing multiple portfolios, and viewing trading history.
The Coinbase Advanced Trade app is available on the Google Play store and Apple app store
Winner in Unique Features
Coinbase wins as it offers more features to both individual and corporate customers than Coinjar.
Coinjar vs. Coinbase: Cryptocurrencies Available
Cryptocurrencies Available on Coinjar
Coinjar supports over 58 cryptocurrencies including Bitcoin, Stellar, Ethereum, Ripple, Litecoin, Chainlink, etc.
Cryptocurrencies Available on Coinbase
Winner in Crypto Availability
Coinbase wins as it supports more cryptocurrencies than Coinjar
Coinjar vs. Coinbase: Can You Buy and Sell NFTs?
Winner in NFTs Availability
Coinbase wins easily in NFT availability as Coinjar does not offer NFTs.
Coinjar vs. Coinbase: Fees
Coinjar Fees
Deposits
- PayID /Osko/ NPP: Zero fee
- Withdrawal to bank account: Zero fee
- Cash deposits via Blueshyft: 1.5%
Cryptocurrency Transactions
- Sending crypto to Coinjar members: No fee
- Transferring crypto to external wallet addresses: Dynamic fees
Conversions on Coinjar
- Fiat to cryptocurrency conversions: 1%
- Cryptocurrency to fiat conversions: 1%
- Cryptocurrency to cryptocurrency conversions: 1%
- Credit card purchase (Instant Buy): 2%
- Apple Pay or Google Pay transactions (Instant Buy): 2%
Coinjar Card
- Digital and physical Card issuance: No fee
- In-store and online purchases: 1% (returned in Rewards points)
- Foreign transactions: 2.99%+
- ATM withdrawal for physical cards: 1% withdrawal fees
- Transaction dispute: $27.50 for each transaction
Trading on Coinjar Exchange
Fees for trades in the Coinjar exchange use the taker and maker model based on trade volume.
Pricing Tier: $0 – $100,000
- 0.01% (taker)
- 0.01% (maker)
Pricing Tier: $100,000 – $1m
- 0.01% (taker)
- 0.08% (maker)
Pricing Tier: $1m – $10m
- 0.08% (taker)
- 0.04% (maker)
Pricing Tier: $10m+
- 0.06% (taker)
- 0.04% (maker)
Coinbase Fees
The Coinbase cryptocurrency exchange occurs a trade volume fee structure using the taker and maker model.
Pricing Tier: $0 – $10K
- Taker Fee: 0.60%
- Maker Fee: 0.40%
Pricing Tier: $10K – $50K
- Taker Fee: 0.40%
- Maker Fee: 0.25%
Pricing Tier: $50K – $100K
- Taker Fee: 0.25%
- Maker Fee: 0.15%
Pricing Tier: $100K – $1M
- Taker Fee: 0.20%
- Maker Fee: 0.10%
Pricing Tier: $1M – $15M
- Taker Fee: 0.18%
- Maker Fee:0.08%
Pricing Tier: $15M – $75M
- Taker Fee: 0.16%
- Maker Fee: 0.06%
Pricing Tier: $75M – $250M
- Taker Fee: 0.12%
- Maker Fee: 0.03%
Pricing Tier: $250M – $400M
- Taker Fee: 0.08%
- Maker Fee: 0.00%
Pricing Tier: $400M+
- Taker Fee: 0.05%
- Maker Fee: 0.00%
Stable Pairs
- Taker Fee: 0.001%
- Maker Fee: 0.00%
Winner in Fees
Coinjar wins in fees as it offers cheaper taker and maker fees (up to 0.08%). This is unlike Coinbase which offers up to 0.10% in fees.
Coinjar vs. Coinbase: Payment Methods
Coinjar Payment Methods
Coinjar offers 3 methods for Australian users to deposit AUD to their Coinjar account, which include PayID, Blueshyft, and Bank Transfer. The cryptocurrency exchange also features an instant buy option via MasterCard/Visa credit and debit card, Google Pay, or Apple Pay. That said, both PayID and Blueshyft offer instant payment options. But your first PayID transaction may take up to 24 hours to process.
Coinbase Payment Methods
For Australian users, Coinbase supports 2 payment options which include credit/debit card, or bank account. However, if you opt for the bank account option you need to add it via your PayID.
Winner in Payment Methods
Coinjar wins in payment methods as it offers more deposit options than Coinbase.
Coinjar vs. Coinbase: Security
Coinjar Security Features
Coinjar is fully registered with Financial Conduct Authority UK and AUSTRAC. It stores the majority of its crypto assets in cold storage or private multi-signature wallets. All assets are secured by Fireblocks and BitGo. It also has full currency reserves with enough assets to cover all customer’s balances.
Also, all of Coinjar’s internal databases and services are protected by cryptographically secure multi-factor authentication. All Coinjar employees are required to pass a criminal check before joining the company.
Coinbase Security Features
Coinbase claims it uses state-of-the-art encryption and security measures to ensure the security of users’ assets.
Users’ accounts are protected with two-factor authentication and password protection. Users can automatically lock their accounts and prevent transactions from being carried out if they suspect that the account has been compromised.
They can also store their assets in the Coinbase Vault which has more security measures than the regular wallet.
Winner in Security
Coinjar wins in security. Despite being one of the oldest crypto exchanges, Coinjar has never been hacked.
Coinjar vs. Coinbase: Earn/Staking Rewards
Coinjar Earn/Staking Rewards
By participating in the Coinjar Earn program you can earn free crypto rewards on your cryptocurrency held on the crypto exchange. Coinjar Earn offers users direct access to specific DeFi protocols which will allow them to earn interest on their digital assets.
Here are the various programs and their interest rates per annum:
Program: ETH
- Type: DeFi
- Interest: Up to 0.10% p.a.
Program: DAI
- Type: DeFi
- Interest: Up to 1.20% p.a.
Program: USDC
- Type: DeFi
- Interest: Up to 1.10% p.a.
Program: USDT
- Type: DeFi
- Interest: Up to 1.70% p.a.
Program: WBTC
- Type: DeFi
- Interest: Up to 0.01% p.a
Coinbase Earn/Staking Rewards
The Coinbase Earn program allows users to earn up to 6.85% APY on their crypto assets. It offers 2 options: staking and DeFi Yield. For its staking program, it offers up to 6.85% APY. DeFi yield rewards are variable.
Winner in Earn/Staking Rewards
Coinbase wins here as the crypto exchange offers higher interest rates than Coinjar.
Coinjar vs. Coinbase: Usability
Coinjar Usability
The Coinjar cryptocurrency exchange allows users to engage with its interface by downloading its app via the Google Play Store or Apple App Store. The apps on both the Apple App Store and Google Play Store have a star rating of 4/5. The Coinjar exchange also offers a professional trading platform for advanced traders, institutions, and market makers.
Coinbase Usability
This cryptocurrency exchange offers an easy-to-use trading interface for beginners. It enables users to buy, sell, and exchange digital assets. Coinbase also offers Coinbase Advanced Trade which is its trading platform for advanced users.
Winner in Usability
Coinbase wins in usability as it is much easier to use for beginners and offers simpler user navigation.
Coinjar vs. Coinbase: Customer Service
Coinjar Customer Service
Coinjar customers can contact the support team via email at support@coinjar.com and by submitting a support request on the website. The support team is available online from 9 am to 2 am on Mondays to Fridays and from 9 am to 5 pm (AEST) on weekends.
Coinjar also has an extensive, easy-to-use Knowledge Base that is well-equipped with articles that can help customers resolve their complaints. Customers are advised to check the knowledge base before reaching out to the support team.
Coinbase Customer Service
Coinbase customers can reach the support team via phone and the message icon on the website. They can also troubleshoot with the Coinbase virtual assistant.
Coinbase also has a FAQ section that users can consult to find solutions to their problems.
Winner in Customer Service
Coinjar wins on customer service, unlike Coinbase, Coinjar's support team offers prompt support to customers.
Conclusion: Final Verdict
Both Coinjar and Coinbase offer great services to their users. However, Coinbase wins here as the exchange offers more options to both beginner and advanced users in available cryptocurrencies, NFT availability, ease of use, security features, etc. This Coinbase has a higher chance of acceptability among crypto investors.
Overall Winner
Coinbase wins with a 4/5-star rating.
FAQ
Most frequent questions and answers
Yes, Coinjar is registered as a digital exchange provider with AUSTRAC.
CoinSpot is better as it offers a larger coin offering than Coinjar as well as better customer service and a more advanced platform.
Coinjar was founded and is headquartered in Australia.
The Coinbase wallet is cheaper than the Coinbase app.
Yes, the Coinjar card is free.
No, Coinjar does not support SEPA bank transfer.
Cryptocurrency is volatile so you need to properly evaluate your investment strategy before investing.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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