Comparison of Bit vs Coinjar [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bit vs Coinjar comparison!

Your expert: Alejandro Borja

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

coinjar

Coinjar

  • Threenvest valuation: 3,7/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.07%/0.04%

Earns

Yes

Customer service

3/5
≤0,10%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.6 – Reasonable fees but higher for certain advanced trading options.
3.8 – Reasonable fees with additional costs for premium services.

Level

0.07%/0.04%
≤0,10%

Brief explanation

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.
CoinJar implements a competitive fee structure tailored to accommodate both novice and experienced traders. For trading, the fees vary depending on whether you use the instant buy/sell feature or the CoinJar Exchange. Instant buy/sell transactions come with a straightforward 1% fee, which is slightly higher but offers convenience for quick trades. On the other hand, CoinJar Exchange offers a tiered fee structure starting from 0.1% for makers and 0.2% for takers, decreasing with higher trading volumes. This tiered approach incentivizes active traders with lower fees, making it a more cost-effective option for frequent trading.

Bit

bit
Read bit review
  • Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
  • Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
  • Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
  • Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
  • Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

Read bit review

Coinjar

coinjar
Read bit review
  • Year Founded: CoinJar was established in 2013, making it one of the earliest players in the cryptocurrency exchange space, which speaks to its longevity and experience in the industry.
  • Reputation and Reviews: CoinJar is known for its user-friendly interface and reliable customer support. It has garnered positive reviews from users worldwide, contributing to its reputation as a trustworthy platform.
  • Security Methods: CoinJar employs robust security measures including two-factor authentication, multi-signature wallets, and encrypted personal data to ensure the safety of its users' assets.
  • Customer Service: The platform is lauded for its responsive customer service, offering quick and helpful support through multiple channels including email, phone, and live chat, ensuring users receive the assistance they need.
  • Volume Managed: CoinJar has processed over $1.5 billion in transactions, demonstrating its capability to handle large volumes and providing liquidity which is essential for a reliable trading experience.
  • Pros
  • User-friendly, intuitive trading platform.
  • No deposit or withdrawal fees.
  • Integrated with Apple Pay, Google Pay.
  • Cons
  • Higher fees compared to competitors.
  • Limited advanced trading features.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
CoinJar Pty Ltd.

Regulation

Regulation not specified
Regulated in Australia

Year founded

Unknown
2013

Founder

Unknown
Asher Tan and Ryan Zhou

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
Yes

Card

No
Yes

Comparative table

Bit FEATURES Coinjar
Allows small minimum trades, accessible for those looking to start with modest amounts.
Minimum Trade
CoinJar allows users to trade with small minimums, making it accessible for beginners to start with lower risk.
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Trading and Transaction Fees
The fees are slightly higher than some competitors, which could be a disadvantage for frequent traders.
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Number of Cryptocurrencies
CoinJar offers a solid range of cryptocurrencies, providing good options for users looking to diversify their portfolios.
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
Crypto-to-Crypto Trading Pairs
It supports various trading pairs, allowing users to trade directly between cryptos without converting to fiat first.
The website provides clear and detailed information about fees, policies, and trading options.
Website Transparency
The website is clear and informative, providing all necessary information about fees, services, and trading options without hidden details.
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Credit/Debit Card
nJar offers a prepaid Mastercard that allows users to spend their cryptocurrency in-store and online wherever Mastercard is accepted. The card supports over 50 cryptocurrencies and integrates with Apple Pay and Google Pay.
High-level security storage solutions including cold storage options to protect user assets.
Storage Offering
Provides excellent digital wallet services with robust security measures, ensuring the safety of user assets.
Offers staking options but with limited rewards compared to leading competitors.
Staking and Rewards
Offers some options for staking and rewards but may not be as competitive or extensive as other platforms.
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly and well-designed, offering a seamless trading experience.
Customer service is available, but response times can vary, impacting user experience during peak times.
Customer Service
Generally receives good reviews for customer service, though response times can vary during peak times.
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.
Deposit and Withdraw
CoinJar supports multiple methods for deposit and withdrawal, including bank transfers and digital wallets, though fees may apply.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Spot trading, margin trading, lending services, OTC trading
CoinJar Card, recurring buys, CoinJar Bundles, CoinJar Exchange

Anonymity

Yes
No

Key points

Available cryptocurrencies

30+
30+

User-friendliness

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.
CoinJar features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

Value for money

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.
Provides reasonable value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and Australian users.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
Australia, United Kingdom, Europe

Best for

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.
Ideal for Australian and UK investors looking for a user-friendly platform with competitive fees and strong customer support.

Base currencies available

JPY, USD, EUR, BTC
AUD, GBP, BTC

Account

Trading

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.
CoinJar is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but lacks advanced trading tools.

Deposit and withdrawal

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.
CoinJar provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.
CoinJar provides a simple and efficient account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

No
Yes

Customer Service

BIT offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.
CoinJar provides support through email and live chat. The support team is responsive and available 24/7, ensuring users get timely assistance.

Security

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.
CoinJar employs comprehensive security measures, including 2FA and cold storage. It is regulated by Australian authorities, ensuring high security for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As one of the experts here at our site, I’ve had a lot of experience with various crypto exchanges, and I can confidently say that CoinJar stands out, especially for those who are just starting their journey into cryptocurrencies. Its user-friendly interface makes it incredibly easy to navigate and manage your digital assets. Whether you’re looking to buy your first Bitcoin or diversify into other cryptocurrencies, CoinJar provides a seamless experience with robust security measures to protect your investments. I highly recommend giving CoinJar a try if you value a straightforward and secure platform for engaging with the crypto market.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Bit and Coinjar