Comparison of Independent Reserve vs Coinjar [ 2024 ]

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

Your expert: Alejandro Borja

independent reserve

Independent Reserve

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
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

≤0,50%

Earns

No

Customer service

4/5
≤0,10%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in Australia and New Zealand.
3.8 – Reasonable fees with additional costs for premium services.

Level

≤0,50%
≤0,10%

Brief explanation

Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average​​.
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.

Independent Reserve

independent reserve
Read Independent Reserve review
  • Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability​​.
  • Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support​​.
  • Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users​​.
  • Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter​​.
  • Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities​​.
  • Pros
  • Strong adherence to regulatory standards.
  • High level of platform security.
  • User-friendly interface for beginners.
  • Cons
  • Limited selection of cryptocurrencies.
  • No margin trading available.

Read Independent Reserve review

Coinjar

coinjar
Read Independent Reserve 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

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Independent Reserve Pty. Ltd.
CoinJar Pty Ltd.

Regulation

Regulated in Australia
Regulated in Australia

Year founded

2013
2013

Founder

Adam Tepper
Asher Tan and Ryan Zhou

Payment methods

Transfers

Yes
Yes

Mastercard

No
Yes

Wire transfer

Yes
Yes

Card

No
Yes

Comparative table

Independent Reserve FEATURES Coinjar
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Minimum Trade
CoinJar allows users to trade with small minimums, making it accessible for beginners to start with lower risk.
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Trading and Transaction Fees
The fees are slightly higher than some competitors, which could be a disadvantage for frequent traders.
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Number of Cryptocurrencies
CoinJar offers a solid range of cryptocurrencies, providing good options for users looking to diversify their portfolios.
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
Crypto-to-Crypto Trading Pairs
It supports various trading pairs, allowing users to trade directly between cryptos without converting to fiat first.
The website is user-friendly and transparent about fees, regulations, and available services.
Website Transparency
The website is clear and informative, providing all necessary information about fees, services, and trading options without hidden details.
Independent Reserve does not offer a card for in-store purchases.
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.
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Storage Offering
Provides excellent digital wallet services with robust security measures, ensuring the safety of user assets.
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
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, ensuring a seamless trading experience across devices.
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 responsive, though there is room for improvement in speed and availability during peak times.
Customer Service
Generally receives good reviews for customer service, though response times can vary during peak times.
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.
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

OTC trading, SMSF services, staking, insurance options
CoinJar Card, recurring buys, CoinJar Bundles, CoinJar Exchange

Anonymity

No
No

Key points

Available cryptocurrencies

20+
30+

User-friendliness

Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
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

Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.
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

Australia, New Zealand, Singapore
Australia, United Kingdom, Europe

Best for

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.
Ideal for Australian and UK investors looking for a user-friendly platform with competitive fees and strong customer support.

Base currencies available

AUD, NZD, USD, BTC
AUD, GBP, BTC

Account

Trading

Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.
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

Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
CoinJar provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.
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?

Yes
Yes

Customer Service

Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.
CoinJar provides support through email and live chat. The support team is responsive and available 24/7, ensuring users get timely assistance.

Security

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.
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 in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.
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.

View all comparisons against Independent Reserve

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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 Independent Reserve and Coinjar