Welcome to CoinJar for non-UK residents (2024)

FAQs

What is the appropriateness assessment in CoinJar? ›

Appropriateness Assessment: CoinJar must assess your understanding of cryptoassets' risks and characteristics. A failure in this assessment will lead to restricted account functionality.

CoinJar's Roles and Responsibilities

CoinJar provides a hosted cryptoasset wallet which allows its customers to buy, sell, deposit and withdraw cryptoassets. We act upon your instructions in processing cryptoasset transactions.

While CoinJar can be used as a cryptocurrency wallet anywhere in the world, for now we're primarily based in the UK and Australia - offering currency exchange and bank transfer services to UK and Australian residents.

An appropriateness test is a series of multiple-choice questions used to determine whether you understand the risks involved in trading specific stocks.

Reviewing your application. Each application is manually processed and reviewed by CoinJar's Compliance Team. Our Compliance Team aims to resolve any verification issues within five business days, and will be in touch if they require anything further.

Is CoinJar regulated in the UK? We're fully registered with the Financial Conduct Authority UK for anti-money laundering purposes.

You might find that CoinJar's dynamic fees are higher than expected. The reason for this is because we estimate transactions based on a median transaction size of 358 vbytes, not 140 vbytes as most other calculators do. We also utilise multi-sig wallets for additional asset security, which accounts for the extra size.

The Travel Rule is a recommendation from the FATF to increase transparency and accountability within the crypto industry. The implementation of the Travel Rule in the UK requires all cryptocurrency transfers in the UK to be accompanied by information about the sender and the recipient.

CoinJar is a cryptocurrency exchange in the US that offers fast, secure, and easy-to-use services for cryptocurrency trading. You can dabble in a Bitcoin exchange for other cryptocurrencies, or you can switch crypto for US dollars or other currencies.

All our internal services and databases are protected by cryptographically-secure Multi-Factor Authentication. Engineers do not have access to application credentials or production servers and all deployments are performed independently by a deployment server.

What is the minimum withdrawal from CoinJar? ›

CoinJar Card limits

A minimum of $20 applies for all ATM withdrawals.

When assessing appropriateness, a firm must determine whether the client has the necessary experience and knowledge in order to understand the risks involved in relation to the product or service offered or demanded.

Withdrawals. Withdrawals from CoinJar are processed as NPP payments. This means that withdrawals should arrive within minutes.

Steps to link your bank account on the CoinJar app

Enter your bank account details and a nickname for this account. Select Link bank account. You will then need to make a small deposit of any amount*, from this bank account to your CoinJar, to verify that it is a valid and active bank account.