CoinSpot vs CoinJar: Which Australian Crypto Exchange is Better?

When choosing a cryptocurrency exchange in Australia, two long-standing platforms often come to mind: CoinSpot and CoinJar. Both have served the Australian market for over a decade, but they cater to slightly different needs. This comparison breaks down their key features, fees, security, and overall usability to help you decide which platform best suits your investment goals.

At a Glance: CoinSpot and CoinJar

CoinSpot is a Melbourne-based exchange established in 2013. It has grown to serve over 2.5 million Australian users. The platform is renowned for its extensive selection of over 380 cryptocurrencies, making it one of the most diverse exchanges in the region. It is registered with AUSTRAC, licensed by ASIC, and notably holds ISO 27001 certification for its high-standard security framework.

CoinJar, also founded in 2013, is an AUSTRAC-registered exchange with a user base of over 600,000. While it supports fewer digital currencies (around 50), it differentiates itself with innovative products like the CoinJar Card, a crypto debit card. The exchange also supports multiple fiat currencies, including AUD, EUR, and GBP, catering to a slightly more international audience.

Key Features and Services Comparison

Both platforms offer a range of services tailored for mainstream Australian investors, including instant coin swaps, mobile apps for iOS and Android, Self-Managed Super Fund (SMSF) support, Over-The-Counter (OTC) trading desks, and recurring orders.

However, there are distinct differences:

• CoinSpot features an integrated NFT marketplace, allowing users to buy and sell digital collectibles and art. This is a unique offering not available on many local exchanges.
• CoinJar offers the CoinJar Card, a free crypto debit card linked to your exchange account. It can be used anywhere Mastercard is accepted and offers rewards on purchases, though a 2% transaction fee applies.

Winner: CoinSpot. While the CoinJar Card is a standout product, CoinSpot's vast array of supported cryptocurrencies and additional NFT marketplace cater to a broader range of investors.

Supported Cryptocurrencies

The variety of available digital assets is a significant differentiator.

• CoinSpot supports a massive range of over 370 cryptocurrencies. This includes major coins like Bitcoin (BTC) and Ethereum (ETH), popular altcoins like Dogecoin (DOGE) and Shiba Inu (SHIB), and a wide array of other tokens.
• CoinJar offers a more curated selection of around 50 high-market-cap cryptocurrencies. It covers all the major staples but lacks the depth for those interested in trading newer or more niche altcoins.

Winner: CoinSpot. For users interested in altcoin trading or building a diversified portfolio beyond the top tokens, CoinSpot is the clear choice due to its unparalleled asset variety.

Deposit Methods and Fees

Easily funding your account is crucial. Both platforms support a variety of AUD deposit methods, but their structures differ.

• CoinSpot offers more flexibility with options including PayID, POLi, direct bank transfer, BPAY, and even cash deposits via Flexepin vouchers. PayID, POLi, and direct transfers are fee-free, while BPAY (0.9%) and cash deposits (1.5%) incur charges.
• CoinJar supports BPAY, PayID, and card deposits via Apple Pay and Google Pay. A key advantage is that all its AUD deposit methods are fee-free. However, it does not support POLi or cash deposits.

Winner: CoinSpot. Its wider range of deposit options, including fee-free methods, provides greater flexibility for users to fund their accounts in the way that suits them best. 👉 Explore more funding strategies

Ease of Use and Interface

Both exchanges prioritize user-friendliness, making them suitable for beginners.

• CoinSpot is often praised for its clean, intuitive, and well-organized interface. Account management features—such as setting up 2FA, viewing transaction history, and withdrawing funds—are easily accessible in a logical layout.
• CoinJar also boasts a modern and straightforward interface. Its recent redesign makes the instant buy/sell process very simple. However, some users find the navigation between different sections of the platform to be less intuitive than CoinSpot's.

Winner: CoinSpot. Both platforms are easy to use, but CoinSpot's refined and seamless user experience gives it a slight edge, especially for those new to crypto.

Trading Fees Explained

Understanding the fee structure is vital for maximizing your investment returns.

Both CoinSpot and CoinJar charge a 1% fee for their instant buy/sell service, which is the simplest way to acquire crypto but is relatively expensive compared to other Australian exchanges.

The real difference lies in their advanced trading interfaces:

• CoinSpot's market exchange charges a flat 0.1% fee for both makers and takers, regardless of trading volume.
• CoinJar's exchange uses a tiered fee structure. Fees start at 0.1% but can be reduced based on your 30-day trading volume, offering potential savings for high-volume traders.

Winner: CoinJar. For active traders who will use the exchange interface, CoinJar's tiered fee model provides better value and the opportunity to lower costs based on volume.

Security and Trust

Security is paramount when entrusting a platform with your funds.

• CoinSpot holds a significant advantage with its ISO 27001 certification. This internationally recognized standard verifies that its information security management system meets rigorous requirements.
• CoinJar employs robust security measures including two-factor authentication (2FA), cold storage for the majority of assets, and encrypted data. It has a solid reputation and has never been hacked.

Critically, both exchanges are registered with AUSTRAC and have operated since 2013 without any major security breaches.

Winner: Draw. Both platforms are considered highly secure and trustworthy within the Australian market. CoinSpot's ISO certification is a notable accolade, but CoinJar's flawless track record is equally reassuring.

Customer Support

Access to timely help is essential.

• CoinSpot offers a highly responsive 24/5 live chat support feature, with email support available on weekends. This allows for direct and quick resolution of issues.
• CoinJar provides customer support primarily through a ticket-based email system. It lacks a live chat function, which can lead to longer wait times for urgent inquiries.

Winner: CoinSpot. The availability of live chat support provides a superior customer service experience, ensuring users can get help when they need it most.

Frequently Asked Questions

Which exchange is better for beginners?
Both are excellent for beginners due to their simple interfaces. CoinSpot might have a slight edge because of its more intuitive navigation and extensive educational resources, making the initial onboarding process smoother for those entirely new to crypto.

Can I use both exchanges outside of Australia?
CoinSpot primarily services Australian residents. CoinJar, while also Australian-based, supports British Pound (GBP) and Euro (EUR) deposits, making it a more viable option for users who are based in or frequently travel to the UK and Europe.

How do I avoid high fees on these platforms?
To avoid the 1% instant buy/sell fee, learn to use the built-in trading exchange on each platform. Placing limit or market orders on CoinSpot's market (0.1% fee) or CoinJar Exchange (tiered fees starting at 0.1%) is significantly cheaper. 👉 Get advanced fee-saving methods

Are my funds insured?
Both exchanges use cold storage to protect the majority of user assets, which minimizes risk. However, it's important to note that unlike cash in a bank, cryptocurrency holdings are not covered by government deposit insurance schemes like the Australian Financial Claims Scheme.

Which platform is better for advanced traders?
While both cater to beginners, CoinJar's tiered fee structure on its exchange makes it more appealing for high-volume advanced traders looking to reduce their trading costs. CoinSpot's flat fee does not reward high-volume activity.

Do they support crypto staking?
Yes, both platforms offer staking services, allowing you to earn rewards on certain cryptocurrencies you hold on their platforms. The specific coins and reward rates differ, so it's best to check their respective websites for the latest offerings.

Final Verdict

The choice between CoinSpot and CoinJar ultimately depends on your individual priorities as an investor.

Choose CoinSpot if:

• You want access to a wide variety of cryptocurrencies (370+).
• You value an extremely user-friendly interface and robust customer support with live chat.
• You are interested in exploring an NFT marketplace alongside trading.
• Security certifications like ISO 27001 are important to you.

Choose CoinJar if:

• You plan to be a high-volume trader and want to benefit from a tiered fee structure.
• You are interested in using a crypto debit card (CoinJar Card) for everyday spending.
• You need support for multiple fiat currencies (AUD, GBP, EUR).

For most Australian investors, particularly those focused on building a diversified portfolio and who prioritize ease of use, CoinSpot is the recommended choice due to its unmatched coin selection, superior user experience, and strong security credentials.