Coinjar Review Uk: Buy Crypto In UK [2021]

Estimated reading time: 10 minutes

Are you looking forward to starting to trade cryptocurrency? We know that it can be a very intimidating experience for beginners. You need not worry; we know what you need to get started. Even if you are not a beginner but an investor looking forward to investing massive amounts, we also got you. 

Coinjar, the best crypto exchange platform is your answer. Therefore, today we brought a review on one of the best platforms for both beginners and advanced level investors that is Coinjar. So, let’s find out everything about Coinjar in detail.

About Coinjar

Coinjar is a cryptocurrency exchange, which allows its users to buy and sell cryptocurrencies. It is an Australian company whose co-founders are Asher Tan(CEO) and Ryan Zhou (COO). Till Feb 2014, it was an Australian company, but currently, it is a UK limited company. Coinjar is backed by the world’s most prominent investors like Boost VC, Blackbird Ventures, and Digital Currency Group. 

This platform has 15 cryptocurrencies available for the UK audience. It is a perfect platform for everyday users, traders, and institutions too. Based on the requirements of the individuals, Coinjar has features that make it worthy. It supports crypto wallet to wallet transfer and also allows the users to do transactions in fiat currency. Aussie Dollar and the British Pound are two fiat currencies that Coinjar supports.

Summary (TL;DR)

  • The platform is simple to use for both novice and advanced level investors to trade cryptocurrencies.
  • It supports two fiat currencies, GBP and AUD, and allows an instant buy and sell option.
  • They have over 400,000 users to boast about.
  • Coinjar has low trading fees for high-volume traders.
  • This platform accommodates both individual and institutional investors and traders.
  • Coinjar manages assets worthy of £50 million and has helped exchange investments of about £750 million.
  • They have both the Android and iOS version mobile applications. (Use coincodecap referral code to get a discount on the fee)
  • Pay a lot of attention to safety and security for users’ data.

How to create an account in Coinjar?

Step 1: Register your account

The foremost step is to visit Coinjar’s official website to register yourself in trading. On the right corner at the apex of the website, you will see the sign-up option. Snap-on the sign-up button and proceed with the following sign-up process.

Step 2: Detail requirement and Create a strong password

After ticking on the Sign-up option, you will require to enter the name, Email, and password. You need to agree with all the terms and conditions of the application.

Coinjar Signup
Coinjar Signup

Step 3: Verification of Email

Succeeding with password creation, Email verification is the next step. You will receive a verification email on your registered Email id. By clicking on the option given in the Email, you can confirm your account and proceed to the next step.

Step 4: Coinjar login

After Email verification, you can sign-in with your account by entering the following details.

Coinjar Login
Coinjar Login

After the sign-up process, you can complete the ID verification.

Step5: Confirmation with basic details

To get full use of the Coinjar platform in context with money exchange and bank transfer features, you need to verify your identity. Also, if you want to be secure from fraud, laundering, and identity misuse theft, you should complete your ID Verification.

  1.  Tap the ‘more’ option and click on ID verification.
  2. Select the country, and tap gets started.
  3. Enter First name tap next, enter a middle name if you don’t, then tap ‘I don’t have a middle name’ and click next, enter the last name, and again tap next.
  4. Enter the date of birth and tap next. Enter the address manually, or you can also search. After completion, tap next.
  5. Go through all the details and tap next if your enter all the details correctly. Then move to the next measure.

Step6: Verify photo ID

You can provide a United Kingdom ID Card, residence permit, and driving license.

  1. Choose the document which you want to provide as proof of your identity.
  2. Read the tips to take a picture and upload it with the documents. Review all the details carefully again and tap next.
  3. The system will check the photo and other details carefully and proceed with the next measure.

Step7: Verification with address

 Verify your bank statement, tax document with your current address mentioned on them.

Step8: Fund your Coinjar account

 Once you completed the verification process, you are now fully ready to deposit fiat money to the Coinjar. The following method help to fund your account from the bank:

  1. FSP
  2. Bank Account
  3. Cryptocurrency

Coinjar Fees

The fee details of a cryptocurrency exchange platform determine the strength of the number of users. Too high fees can make them lose customers, or too low prices can affect its revenues. So, let’s find out the Fee details of Coinjar Uk.

Coinjar Withdrawal Fees

Coinjar UK does not ask for a payment when withdrawing from British bank accounts through FPS (Faster Payments). UK audience can also withdraw altcoins for free. However, for withdrawal of bitcoins, as of 24 June 2020, the fee is calculated dynamically. This dynamic fee calculation depends on your withdrawal amount and blockchain congestion level at the time of transaction. Before 2020, the withdrawal fee of bitcoin was 0.0005 BTC. You can check out the table given below or get information directly from their website for a clear understanding.

Coinjar Withdrawal Fees
Coinjar Withdrawal Fees

Coinjar UK Deposit Fees

Coinjar provides free deposits to British bank accounts. It does not ask for any fee for receiving digital currencies from Coinjar users or other platforms.