All Posts in “Announcements”

We halved our buy fee!

To ensure our users get the best value with CoinJar, we have cut our buy fee in half! This means you can now buy and sell with a flat 1% fee.

This is a step in our journey to make bitcoin services simple, affordable and easy to use. The fee change is effective as of today.

Buy now

For more information about our fees visit our knowledge base or email our Support team

Introducing CoinJar Touch for Android

Today, we launched our long-awaited mobile application for Android – CoinJar Touch. The native app mirrors the CoinJar web platform and lets you manage your CoinJar on-the-go, wherever you are.

CoinJar Touch is designed to be your everyday bitcoin payments app, convenient for instant payments to others and quicker transfers between your accounts.

Download CoinJar Touch for Android

 

account-list  Transfer


Features:

• Pay instantly to CoinJar usernames, Bitcoin addresses and scanned QR codes.
• Request payments from anyone via email.
• Store funds without volatility in Hedged Accounts (GBP, EUR, USD and AUD)
• Transfer between bitcoin and cash with low fees.
• Withdraw funds to supported bank accounts¹.
• Secure your CoinJar with a passcode and Data Wipe.
• View your balances with AUD, GBP, BTC, EUR and USD as a value reference currency.
• Get push notifications for deposits, payment requests and confirmations.
¹ Currently available to Australian customers only.

Install CoinJar Touch for Android

Need help? Take a look at our Support Knowledge Base article for CoinJar Touch.

For any more information about CoinJar services, please contact our in-house support team. We’d also like to hear your thoughts and feedback on our products and features on Twitter. For promotions, offers, product launches and more, subscribe to CoinJar’s monthly newsletter.

Now every Australian business accepts bitcoin

Today we’re pleased to announce the general release of CoinJar Swipe, Australia’s first bitcoin debit card. With Swipe, you can spend your bitcoin anywhere that accepts EFTPOS and withdraw your bitcoin as cash at any ATM in Australia.

CoinJar Swipe is convenient, easy to use, and built so you can use your bitcoin to pay for the everyday things, like your morning coffee and the bills. If you live in Australia and have a verified identity, sign in and order your first bitcoin debit card.

Order CoinJar Swipe

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  • To order, there is a one time fee of $29.
  • To be eligible for CoinJar Swipe, you must be a verified CoinJar user.
    Not verified? Visit our identity verification portal.
  • Once ordered, your card will be delivered within 7-10 business days.
  • For more detailed information visit support.

Last year in September, we invited 100 members of our early access program, CoinJar DNA, to beta-test Swipe. It was well-received and using the beta-test feedback, our team was able to refine and improve Swipe for you today.

Here’s what our beta-testers thought of Swipe:

“With Swipe, I can now use Bitcoin to buy just about anything. The other day, I went out to the local Woolies and bought my lunch with bitcoin. Really, at the end of the day, I want to do everything that I already do with other currency, plus more with Bitcoin.”
Prashan Paramanathan, CEO, Chuffed.org

“I do like the fact that I can load my BTC onto the card and access the money immediately, as opposed to waiting for the obligatory 2 banking days to receive funds in my bank account. The process was pretty straightforward, receiving the card, activating it, loading money onto it, using the card to buy groceries.  All very easy. It’s definitely a step in the right direction to make Bitcoin more accessible for the masses.”
Daniel, DNA member

“Seeing it used in such a mundane context made it feel so real, and I started feeling really excited about the possibilities in this space.” 
Anthony, DNA member

“My favourite moment of using Swipe would be the time I ordered a meal and had my bank keycard fail. It would’ve been awkward had my Swipe not come to save the day.”
Gerard, DNA member

We look forward to hearing what you think of CoinJar Swipe. Share your feedback with us on Twitter or send us a support request.

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Order CoinJar Swipe

For more information, including the Product Disclosure Statement and the fee schedule for this product, visit our Support Knowledge Base article.

Introducing Hedged Accounts

Today, we’re excited to launch CoinJar’s newest feature for the everyday bitcoin user, Hedged Accounts. Hedged Accounts protect you from fluctuations in the bitcoin price by pegging your bitcoin to AUD, GBP, EUR or USD. They are available to be added to your CoinJar now.

Open a Hedged Account

 

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Hedged Accounts are great for people who want to start out with bitcoin for practical purposes but don’t want to manage it actively or worry about price volatility.
– Asher Tan, CEO

This new feature is particularly useful for businesses or charities that accept bitcoin as they can make business plans and budget without worrying about its volatility. Hedging their bitcoin gives them the assurance that their funds are stable, without having to transfer it to cash.

How Hedged Accounts work

A CoinJar Hedged Account allows you to hold a variable amount of bitcoins that have a fixed value in terms of an alternative currency (GBP, AUD, EUR, USD). This protects your bitcoin from price fluctuations.

CoinJar Hedged Accounts Infographic - AUD-2

 Need help? Read the Frequently Asked Questions article on our CoinJar Support Knowledge Base.

Introducing CoinJar Touch for iOS

Today, our team is excited to launch our redesigned mobile application for iOS – CoinJar Touch. CoinJar Touch is an everyday bitcoin payments app that lets you manage your CoinJar on-the-go, wherever you are. The app will be familiar to you as it mirrors CoinJar’s simple and easy to use web platform.

Using CoinJar Touch, you’ll be able to make instant payments to others and quicker transfers between your accounts. We built this because we believe you should have control over your money, wherever you are.

Download CoinJar Touch for iOS

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Features:
• Pay instantly to CoinJar usernames, Bitcoin addresses and scanned QR codes.
• Request payments from anyone via email.
• Transfer between bitcoin and cash with low fees.
• Withdraw funds to supported bank accounts¹.
• Secure your CoinJar with a passcode, Touch ID and Data Wipe.
• Sign up or sign in with 1Password integration.
• Store your bitcoin with AUD or GBP as a value reference currency.
• Get push notifications for deposits, payment requests and confirmations.
¹ Currently available to Australian customers only.

Install CoinJar Touch in the App Store

“We’ll be launching CoinJar Touch for Android shortly as well. Mobile is important for mainstream Bitcoin adoption because it’s accessible and reflective of the global trends. Mobile penetration has exceeded desktop computing and this is especially true in developing economies. Just like everything else CoinJar builds, CoinJar Touch is tailored to international markets.”
– Asher Tan, CEO

“We’re not only competing with other payment companies, but the physical wallet. Even with the extra benefits, like paying contacts and sending payment requests, paying via bitcoin must be fast, reliable and as easy to understand as paying with a card.”
– Cade Diehm, Creative Director

Need help? Take a look at our Support Knowledge Base article for CoinJar Touch.

For any more information about CoinJar services, please contact our in-house support team. We’d also like to hear your thoughts and feedback on our products and features on Twitter. For promotions, offers, product launches and more, subscribe to CoinJar’s monthly newsletter.

Your CoinJar – Redesigned

Your CoinJar has changed, and we want to tell you a bit about it.

Internet and technology based companies can grow quickly in this connected world. Software, like that of the bitcoin blockchain, isn’t restrained by borders and usually has marginal cost to distribute. From day one, we knew CoinJar needed to cater to a global audience.

We’ve been proud to deliver our products in Australia, from the exchange between dollars and bitcoins to the CoinJar Swipe debit card. However we’ve always planned to share our products worldwide, and now that we’ve relocated our headquarters to London, CoinJar can offer a better, global service.

Today we launched the new CoinJar platform, an easy to use, easy to understand bitcoin platform for everyone. Buy, sell, send, receive and spend bitcoin and dollars using a single simple interface with low fees and instant transactions. Though it was challenging to create, the new CoinJar service was built to be user-friendly and intuitive, where bitcoin just ‘works’.  It’s also a platform that can grow, and scale to become a core part of the new digital economy.

We have officially incorporated as a UK company, CoinJar UK Limited.  Customers will be asked to accept CoinJar’s new Terms of Service the first time they sign into the new platform. In this new agreement, there will be no additional taxes levied on the purchase of bitcoin as previously rendered by CoinJar Pty Ltd (Australia) as Her Majesty’s Revenue and Customs exempts digital currency trading from value added tax (VAT).

CoinJar will continue to maintain a strong presence in Australia. Even as we become a global company, our goal is to be on the ground as much as possible, wherever users love our products. As we grow, we won’t stop focussing on the things that have defined us, like facilitating Meetup groups, sharing knowledge and highlighting our amazing users.

This is how we believe it should be done. This is the new face of personal finance.

Thanks from everyone at team CoinJar.

Take a look at our new platform:



Tell us what you think about your new CoinJar on Twitter using #MyCoinJar.

What’s next for CoinJar

As a company in an emerging industry we have faced many challenges, especially in the recent months. The CoinJar team is agile and adaptable, and we’re confident in our future plans to keep CoinJar efficient and useful for our users.

We also remain dedicated and focussed on creating innovative products. I look forward to the coming months as we introduce what our team has been building – a seamless digital finance experience for our users.

Last month we started trialling CoinJar Swipe, Australia’s first bitcoin EFTPOS card. Swipe was created to show how accessible and revolutionary bitcoin is. Before Swipe, there was no easy way to spend bitcoin. Now our users can spend their bitcoin to complete everyday tasks. We’ll be releasing this to the general public very shortly.

swipe-mobile_appThe new CoinJar Swipe design

To truly revolutionise finance, we recognise that there’s a lot more to be done in education and the community. Apart from regular community meetups and workshops, CoinJar is also involved in events such as the upcoming Privacy Workshop featuring Senator Scott Ludlam and Human Rights Commissioner Tim Wilson.  We’ve also run workshops with small businesses to help them understand bitcoin, introduced students to new financial models, and supported community projects.

The CoinJar community has helped us improve our service over the past few months. We’ve acted on feedback and changed many of our existing processes, such as our multi-factor authentication and login processes.

LoginThe new CoinJar login screen, complete with a scenic snapshot from our new UK office.

As part of offering an integrated service, we are making CoinJar accessible across multiple platforms, starting with a new website. The new website simplifies the way CoinJar users can manage their digital finances by integrating all our products.

coinjar_product_montage_01 (1)You’ll be able to access your CoinJar across various devices and platforms.

We are building products to solve the problems of today and tomorrow to make digital finance truly accessible to everyone. As a team, we are incredibly excited to deliver a seamless digital financial experience that will empower you in your everyday life. We believe in the promise of a future made better with Blockchain technology.

We welcome you to be a part of the CoinJar journey by joining our early access program CoinJar DNA. Follow us on Facebook or Twitter to keep up to date on what we’re working on. We are listening to what you have to say.

Asher Tan
CEO, CoinJar

How the New ATO Guidance Affects CoinJar Users

In August, the Australian Tax Office (ATO) released a guidance paper on the tax treatment of crypto-currencies. The ATO stated that the supply of bitcoin is taxable for goods and services tax (GST) purposes. We wrote previously about the steps we’re taking to understand their guidance.

Here’s what we have determined.

The ATO’s Guidance

When you buy bitcoin in Australia, the price quoted to you will include 10% GST, which the seller must pay to the ATO.

When you convert bitcoin to Australian dollars, the guidance is more complicated. If you are not a GST-registered business, GST will not apply when you place a sell order.

However, if you are a GST-registered business you may need to collect the GST as part of your sales.

How this affects you

Buying bitcoin

  • If you buy bitcoin at CoinJar, you will be charged 10% GST as of October 3.
  • We’ll generate a tax invoice showing you how much GST you paid.

Selling bitcoin

  • If you are a customer selling bitcoin for personal use, there will be no change.
  • If you’re selling bitcoin on behalf of a GST registered business, you will be prompted to register your GST status at point of sale.
  • When you submit a sell order, we will ask you to confirm GST collection.
  • CoinJar will generate a recipient created tax invoice (RCTI) on your behalf for every sell order with GST applied.

At this point, these changes affect CoinJar Filler only. Other CoinJar products, such as the recently launched CoinJar Swipe, will not be affected by this determination.

The Future of Bitcoin in Australia

We’ve worked hard to confirm these changes with the ATO and integrate them into our existing products.

*While CoinJar is now required to charge GST from 1 October 2014, we have elected not to yet pass this additional charge on to our users until 3 October 2014.

This means that CoinJar users will be paying the same amount for buying bitcoin before and after the GST change was applied until 3 October 2014. During this grace period, CoinJar now receive only 90.9% of the amount paid.

In many ways the guidance has brought clarity to the position of bitcoin users in Australia. However, we don’t believe the ATO’s guidelines are ideal for bitcoin in this country. We believe in a simpler financial system, and we will continue work with the ATO to help them discover a fairer position.

If you have any questions please get in touch with us, via Twitter, Facebook or CoinJar Support.

*Please note that we have edited this blog post since publication to further clarify the grace period.

What you need to know about CoinJar Swipe

Update: Limits have increased on CoinJar Swipe. Please refer to the following Knowledge Base article: https://support.coinjar.com/hc/en-us/articles/202929245-Understanding-Swipe-fees-and-limits


We’re excited to release CoinJar Swipe cards to a hundred lucky members of our early access program, CoinJar DNA. As we roll out Australia’s first bitcoin EFTPOS card, here’s what you need to know to get swiping.

Swipe lets you spend bitcoin seamlessly

Swipe works by converting the bitcoin from your CoinJar balance into Australian Dollars.

Swipe can be used anywhere that accepts EFTPOS in Australia

You can spend your bitcoin to buy everyday items like your groceries. You can also convert your bitcoin to cash at any ATM or store that provides cash-out. 

Key Information

Withdrawal limits

  • 10 Withdrawals per 24 hour period
  • $500 limit per 24 hour limit (combination of payments and withdrawals).

Schedule of Fees

  • Ordering: $29/card, free for the first card of DNA members
  • Pre-load: Swipe applicants are required to pre-load their card with $20 to complete their order.
  • Activation: Free
  • Loading bitcoin onto CoinJar Swipe: No fee. Conversions are subject to CoinJar’s exchange rate.
  • Loading currency (e.g. AUD) onto CoinJar Swipe: 1% fee. Conversions are subject to CoinJar’s exchange rate.EFTPOS Purchase: Free
  • EFTPOS Cash-out: Free
  • ATM (Non-rediATM): ATM operator charges a fee.
  • ATM (rediATM): $2 per transaction.
  • Inactivity fee: $4/month charged after 180 days of inactivity. Reimbursed by CoinJar (contact CoinJar Support).
  • Disputed transaction fee: $10/incident

Swipe has no transaction fees on purchases

You will not be charged any transaction fees for using Swipe – no activation fees, no load fees, no conversion rates (subject to CoinJar Fair Rate policy), no inactivity fees.

While these fees may appear on your statement, CoinJar will be absorbing these costs because we want our users to experience the power of bitcoin and spend it freely.

Using your Swipe to withdraw Australian dollars

Swipe has a $2 ATM fee at any rediATM. Non-rediATMs will have their own fees. However, Swipe has no withdrawal fees when being used to withdraw at Coles and Woolworths.

Swipe cards will come with a product disclosure statement that goes into more detail about fees for loading and spending.  You may see fees outlined there, however we are absorbing these costs to make this a better experience for you.

It does cost $29 to order a Swipe card, however we’ve waiving this fee for a limited time for CoinJar DNA members only.

Swipe lets you control your money

You have the freedom to choose how and when you’d like to use your Swipe card.

You can top up your Swipe in your CoinJar. Simply choose how much AUD balance you want on your card and confirm, CoinJar does the rest. You can also set a minimum balance, so that it automatically tops up your card as you spend.

Swipe is just the beginning…

Our team at CoinJar work to make digital finance accessible to everyone through simple, secure and useful tools and products.

Swipe is just one of the many ways we’re looking to empower our users to manage their wealth.

Our thoughts about the ATO Bitcoin Ruling

Last month, the ATO released a guidance paper on how the government intends to treat and tax bitcoin.

The rulings contain outcomes which could affect the way bitcoin is transacted in Australia. Now that the rulings are available, we’ve been working carefully with our legal counsel and tax advisors to determine how the rulings affect us and our customers.

There’s been vigorous debate and speculation around this topic. Although these rulings have provided clarity to people who own, use or transact with bitcoin, there’s also still a lot of uncertainty. We’ll be able to share our thoughts once we’ve completed this internal consultation.

We understand that our customers are looking to us for guidance. It would be negligent of us to comment without receiving professional advice.  In the meantime, we highly recommend you consult a registered tax agent when arranging your tax and personal affairs and determine how these rulings affect you.

Team CoinJar