CoinJar

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CoinJar
CoinJarpic.png
Founded 2013
Headquarters London, England (Head Office); Melbourne, Australia
Key People Asher Tan, Co-Founder/CEO; Ryan Zhou, Co-Founder/COO
Employees 25
Products Digital Wallets, Cryptocurrency Card, Digital Currency Trading Platform, Crypto Exchange
Twitter @GetCoinJar
LinkedIn Profile
Facebook Page
Website https://www.coinjar.com/
Releases Company News
Blog https://blog.coinjar.com/

CoinJar is an Australian (UK based) cryptocurrency trading platform and wallet founded in 2013 by Asher Tan and Ryan Zhou. In addition to providing a platform for digital currency exchange, it also offers products like the CoinJar digital currency debit card. The exchange has offices in Melbourne, Australia, and London, England. Supported currencies and cryptocurrencies are the British Pound, Euro, Australian dollar, Bitcoin, Ethereum, XRP, LTC, ZRX, USDC, and Basic Attention Token.[1] [2]

History[edit]

Asher Tan and Ryan Zhou jointly established and built CoinJar in 2013. In 2014, they launched their first digital currency card in the form of the EFTPOS card, a trial run for users to spend cryptocurrency at various retail terminals.[3] The same year, CoinJar's main office was moved to London after Australia announced that it would charge a Goods and Services Tax (GST) on Bitcoin rather than classify it as a currency. CoinJar moved in order to enjoy the UK's more "sensible approach to the regulation of new technologies like Bitcoin." This move was also made to further the company's goal of going global.[4]

CoinJar launched a Peer-to-Peer app for their trading services in 2015. A version of the app for Android was launched in 2018.[5] The digital currency card also moved out of its trial period and into the public in 2015.[6]

By 2018, CoinJar had emerged as one of the most popular cryptocurrency exchanges in Australia with over 350,000 members and $785 million in trading turnover at the time.[7] [8]

CoinJar partnered with blockchain analysis company Chainalysis with the goal of improving compliancy standards as cryptocurrency volumes in Australia kept increasing. CoinJar adopted Chainalysis' systems, KYT (Know Your Transaction) and Chainalysis Reactor, to help monitor transactions and enhance due diligence. Also involved in this partnership were Assembly Payments, an Australian-based payments provider, and CoinSpot, a rival cryptocurrency exchange of CoinJar's.[9]

CoinJar unveiled a new card backed by Mastercard in August, 2021. The CoinJar card exists both digitally and physically, and allows users to buy, sell, and spend digital assets from the exchange's site using local Australian dollars. Visa had announced a similar product with Australian startup CryptoSpend the previous month.[10]

Products and Services[edit]

Cryptocurrency Exchange[edit]

CoinJar's primary service is its digital currency accounts, which serve as both a currency exchange and a digital wallet. Users can use CoinJar to buy, sell, and store digital currencies/assets, send and receive digital currency payments and trades with other users, and manage a personal CoinJar portfolio. Security measures are taken to ensure the safety and protection of user data and trades.[11] CoinJar also offers tailored solutions and support to institutions trading within their currency exchange.[12]

Debit Cards[edit]

The CoinJar Card is both a digital and physical product. The card has gone through three separate iterations: The EFTPOS Card, CoinJar Swipe, and the CoinJar Card. In its current form, the CoinJar Card allows for users in Australia to make purchases using cryptocurrencies in CoinJar wherever Mastercard is accepted. The card automatically converts crypto to Australian dollars after a transaction has been made.[13]

Bundles[edit]

CoinJar offers a bundle of popular cryptocurrencies that are sold and tracked in groups.[14]

Key People[15][edit]

Asher Tan (Co-Founder/CEO): Former analyst and one of the founders of CoinJar.

Ryan Zhou (Co-Founder/COO): One of the founders of CoinJar. Completed a Bachelor of Commerce, obtained a CFA charter, and is enrolled in the Master of Science (Computer Science) at the University of Melbourne.

References[edit]