Updated: Bank account deposits using POLi

POLi deposits have proven to be a useful ‘Quick Deposit’ mechanism since we introduced it late last year. We have had many requests to extend the number of banks we support for POLi deposits and also to increase limits for instant deposits.

Verified Australian CoinJar users can now make bank account deposits of $2,500 and under instantly using POLi. Transfers above $2,500 will typically take 1-2 business days to be processed. You can access POLi deposits as an option in the ‘Quick Deposit’ page.

CoinJar can accept POLi transfers from the following Australian banks:

  • Bank of Melbourne
  • BankSA
  • BankWest
  • Bendigo Bank
  • Bank of Queensland
  • Commonwealth Bank
  • Citibank
  • CUA
  • IMB
  • ING Direct
  • Peoples Choice Credit Union
  • St. George Bank
  • Suncorp Bank
  • Westpac

Make a deposit now

POLi cash deposit screen

Make a deposit using POLi from your Quick Deposit screen

For more information, visit our Knowledge Base article on cash deposit options.

Frequently Asked Questions

What is POLi?
POLi is an online payment option which facilitates a Pay Anyone internet banking payment from your bank account to a merchants. You may have used POLi before on Jetstar, Qantas, Etihad and OzForex. POLi Payments is a fully owned subsidiary of Australia Post
How does it work?
Choose to pay with Internet Banking wherever you see the POLi payment option, select your bank and click proceed with payment. You’ll be asked to log in directly to your bank. Follow the prompts to complete the Pay Anyone transaction and complete the payment. POLi cash deposits can take 1-2 business days to appear in your Cash Account.
How much is it to deposit using POLi?
There are no fees for depositing using POLi.

Introducing CoinJar Rewards (and celebrating three years!)


CoinJar Rewards Hover

It’s CoinJar’s third birthday, and we’re giving back with CoinJar Rewards – our loyalty program designed to reward CoinJar members for using our services. From making a bitcoin conversion, to spending money with CoinJar Swipe, users will now enjoy real-time points for engaging with the CoinJar platform.

CoinJar Rewards joins our family together with financial technology products that have seen over 70,000 users and one of the longest track records of digital currency service in Australia. This bundle includes:

  • CoinJar Touch, our native mobile apps on Android and iOS
  • The first digital currency enabled EFTPOS card CoinJar Swipe
  • Award-winning Hedged Accounts which protect bitcoin against currency fluctuations
  • Bitcoin purchases using credit/debit cards in 20 European countries
  • Full-featured wallet and exchange services

In addition to product development over the years, we’ve also given back to the community by:

In the time it’s taken some companies to get to market, we’ve helped establish a thriving industry, notably in Australia — one that is now looked to as a source of innovation for blockchain technology.

We hope that you love using CoinJar Rewards and continue to reap the benefits of using tools built with the latest technologies and with users in mind.

CR Phone

Frequently Asked Questions:

Are CoinJar points backed by a distributed ledger or blockchain?
It is supported but not yet implemented. We have larger plans for this product, including the ability to use it across different merchants and interoperability between multiple loyalty programs. We will soon be releasing API documentation on this product for developers and business to create their own reward experiences.

What can you redeem CoinJar Points for?
At launch, you can use CoinJar points to save on exchange fees or redeem a free CoinJar Swipe. There are also plenty of redemption options on our Rewards Store including VPN Secure, Fastmail subscriptions and gift cards. CoinJar Points are not money and will not be redeemable for bitcoin or cash.

How can I gain access to CoinJar Rewards?
You will need to have a verified CoinJar account and activate Rewards on your home screen once you sign-in.

For more information on CoinJar Rewards and a full table of convertibility, please refer to our Knowledge Base.

One Year of CoinJar Swipe

It’s been exactly one year since every Australian business started accepting Bitcoin with CoinJar Swipe, our Bitcoin-enabled debit card. One year out, CoinJar Swipe continues to be an innovative product, changing the way we look at and perform payments.

Since its official launch 12-months ago, we’ve seen $1,051,479.97 spent on about 1,000 debit cards in circulation! We’re thrilled to break the million-dollar mark and hope all our users have enjoyed the experience as much as we’ve enjoyed creating a seamless digital currency app and card.

Using a sample size of anonymised transaction data over the last three months, grocery shopping comes out on top at 35%.

CoinJar Swipe Debit Card Spending Statistic


Feedback & Updates After 12 Months

  • Daily Limits
    Many users have asked us to increase the limit of the Swipe cards as many items come in above the $500 limit making it hard to buy that new TV or gaming rig with your CoinJar Swipe. We’re pleased to announce we will be doubling the CoinJar Swipe daily limit to $999.00 effective immediately.
  • Multi-currency and online usage of Swipe
    We’ve also had feedback that users want to use their Swipe card overseas and for purchases on the internet. Presently CoinJar Swipe runs on the EFTPOS network which is accepted at 950,000 payment terminals in Australia, however isn’t available online. This is something that’s being worked on and we’re keen to release a multi-currency card that can be used anywhere in the world.

    CoinJar Swipe Reload

    CoinJar Swipe Auto-Reload

  • Auto top-up & PIN Recovery
    A handy feature when you want to keep your card ready for spending, the auto-reload feature automatically tops up your Swipe when it falls below a specified balance. And if you’re forgetting your PIN all the time, we’ve got you covered with easy recovery.

Ordering a CoinJar Swipe

There has never been a better time to own a CoinJar Swipe debit card. If you’re receiving international payments for invoices, everyday spending, or want to be or just as a great backup – here’s how you can get your very own CoinJar Swipe.

  • 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.

Log-into your account now to get your CoinJar Swipe.

Order CoinJar Swipe

Introducing CoinJar Store

We’ve been working on something fun lately, and we’d like to introduce you to CoinJar Store.

Our team created CoinJar Store after we joked about having a ‘bitcoin store’ one day. We were inspired by our Creative Director’s shrine to the doge, which almost every visitor to our office remarks on.

So here it is! CoinJar Store is for all the witty bitcoin merchandise and gifts that your life needs. We’ve got greeting cards you’re happy to sign, hardware wallets and CoinJar t-shirts. Happy shopping!

Visit CoinJar Store

Ledger Nano Group

The Ledger Wallet lets you configure and use a standalone Bitcoin wallet. Buy it for $42.90.

doge birthday card

Definitely not a Hallmark card. Buy doge greeting cards from $5.90.

Our favourite merchandise,  the die-cut CoinJar sticker. Available to purchase at $3.50.

Our favourite merchandise, the die-cut CoinJar sticker. Available to purchase for $3.50.

Our t-shirt is for sale! Get it at the CoinJar Store for $28.90.

Our t-shirt is for sale! Get for $28.90 at the CoinJar Store.

If you have any suggestions for merchandise and products we should sell, let us know at social@coinjar.com. And yes, of course we take bitcoin!

Introducing CoinJar in Mandarin

Today we’re excited to reveal our first release for CoinJar in Mandarin. With over 1 billion Mandarin speakers around the world, CoinJar is now more accessible than ever to our global userbase.

Over the past few months, the bitcoin community has seen some triumphant wins with new partnerships, new supporters and new ideas. Here at CoinJar, we’ve been working towards our vision of bitcoin for the everyday and the extraordinary. We launched credit card deposits for the UK, we created CoinJar Identity for faster verification, we shared CoinJar with 50,000 customers and now, we’re launching CoinJar again, in the most spoken language in the world.

Currently, CoinJar Mandarin is only available in the web version of our wallet. If you’re a Mandarin speaker, sign-in to your CoinJar today to try it out today. As this is an early release, we would love to hear your feedback on how we can improve to make CoinJar the best bitcoin wallet available in Mandarin.

To switch your CoinJar into Chinese, head to ‘Settings’ once you’ve logged in and select either Simplified or Traditional Chinese in the ‘General’ section.

Screen Shot 2015-09-25 at 1.55.42 PM

作为一个服务全球的金融科技公司,我们一直认为一个易用易懂的界面是我们产品的最大优势。全世界有超过十亿汉语使用者,我们十分重视这个市场。今天,我们在中秋佳节隆重推出 CoinJar 中文版。

在过去的几个月,无论是新的线上线下合作伙伴,不断增长的拥护者还是激烈的观点辩论,整个比特币社区在各方面大获全胜。CoinJar 也一直秉承着“比特币让日常支付超乎寻常”的理念,最近推出了英国信用卡存款功能和全新的 CoinJar 实名认证平台。我们的全球用户量在本月突破了 5 万。今天我们正式开启国际化支持,而第一站就是全世界使用人数最多的语言。

目前 CoinJar 中文版仅限 Web 版本。如果您懂中文,欢迎登录您的 CoinJar来体验。国际化支持依然处于测试阶段,如果您有任何宝贵的意见或建议,请向我们提出。我们的目标是做最好的中文版比特币钱包。

若想切换到中文界面,您只需要在登录 CoinJar 后选择 Settings,然后在 General 下面的 Language 选项选择“简体中文”或“繁體中文”。

Screen Shot 2015-09-25 at 1.55.42 PM

For more, read our Knowledge Base article on how to change your language preference on CoinJar.

Buy bitcoin with UK credit and debit cards

We’re happy to share that you can now buy bitcoin using UK credit and debit cards on CoinJar!

Once you’ve verified identity, you can link your 3D Secure-enabled card and purchase bitcoin instantly in British Pounds.

To buy bitcoin with your UK credit/debit card:

Screenshot of UK credit card deposit screen

Please note that at this point in time, British Pounds (GBP) are used for all transfers, and only European Economic Area (EEA) cards are accepted.

If you’d like to know more, read our Knowledge Base article on UK credit/debit cards, or you can contact our Support Team at support@coinjar.com.

A guide to investing in bitcoin

A lot of people ask about investing in bitcoin, or if they should. This piece goes through the pros and cons, and various options. It will cover what bitcoin is, and a bit of the history of the digital currency as an investment vehicle. If you are considering investing in bitcoin, we recommend you do your own research before making any decisions. This guide does not seek to recommend or advise investing in bitcoin, but acts as a resource for people trying to understand it better.

What is bitcoin?

human63Bitcoin is a digital currency – it consists of tokens that can be exchanged between people on an online ledger cheaply, securely and quickly. It is not owned or controlled by a bank or central body, but processed by a distributed worldwide network of software called the blockchain.

Transactions using the blockchain are verified multiple times using encryption to ensure no fraudulent transactions occur. This distributed network is currently more powerful than the top 500 super-computers combined, and ensures that the rules of the network aren’t changed without a technical consensus. Examples of rules are costs of transaction, required level of verification, how new bitcoins are generated, and the limit on the bitcoins that can be generated.

There is a set of rules on how the network operates. Only 21 million bitcoins can ever exist, and no more can be created after year 2140 – this rule acts as a controlled monetary inflation. Bitcoins can also be broken down to eight decimal places, so you can buy fractions of a bitcoin.

Why is it important?

bitcoin92The potential of blockchain technology has been debated widely, especially when it comes to finance, information and security. Bitcoin is a relatively new technology, and the software behind it is free to the public to build upon. Because it is finite and digital, it is argued that it is one of the first truly digital commodities. Since its introduction in 2008, thousands of bitcoin companies have emerged, with over 80 million dollars in VC funding pouring into the ecosystem. The bitcoin network has a AU$4 billion dollar market cap at time of writing.

Bitcoin as an asset class

As an asset class, bitcoin is difficult to define. Previous digital tokens were controlled by a third party, so never really got into the asset class category, they were usually pegged to a currency value and there may be limits on when and where these tokens can be redeemed.

Bitcoin is:

  • finite and takes effort to produce, similar to commodities like gold,
  • its value is set on free market open exchanges like shares,
  • it can be divided instantly and transferred around the world in fractions like digital money,
  • the transfer is irrevocable and peer to peer, like cash.

So the best asset class title for it is “bitcoin”.


Bitcoin first traded at .09c per coin in 2010 and currently sits at AU$300 per coin as of the time of writing. The price is not pegged to anything, but is discovered on open exchanges. On these exchanges people fill order books with prices they are willing to buy and sell at, similar to stock markets.

Why would you invest in bitcoin?

There are a few reasons that people see bitcoin as an attractive investment vehicle, we’ve listed some of them below, as well as some of the reasons why people hesitate. Remember this isn’t financial advice, just two sides of the coin.

Finite supply

The big pro is that there is a fixed, finite supply. Much like gold and other asset classes, bitcoins can’t just be spun into existence. Because of the strength of the distributed network, no one entity can tinker with the supply or limit. There are only 21 million bitcoins that can ever exist.


gear74It is argued by some that bitcoin’s utility will drive up the demand, and thus the value of these digital tokens. Hypersecure irrevocable token exchange being something that has many valuable real life use cases, such as:


Every facet of bitcoin could potentially be a billion dollar industry, but this does not mean every bitcoin could be worth a billion dollars. In a truly efficient market, bitcoin should be able to handle these non-monetary roles without a significant price increase. Another investment option may instead lie in businesses and new economies that benefit from the efficiencies brought about by the blockchain protocol.

Alternative money system

Many like to own bitcoin as a hedge against other monetary systems. The economies of the world are inextricably linked, so an alternative finance system that exists outside of the traditional one may seem like a good place to store some value. An example is the bank runs in Cyprus. When the local government indicated they may begin taxing 10% of personal accounts, waves of users purchased bitcoin as a way of hedging against their local currency.

Why shouldn’t you invest in bitcoin?

earthglobe23Something might go wrong

Don’t reach for your wallet just yet, there are plenty of factors to consider. Despite 20 years of cryptographic studies that suggest bitcoin’s protocol is unhackable, there could still be some hidden flaw. Something that turns a AU$4 billion market cap to zero. With our current understanding of cryptography this is unlikely, but it is still a possibility to consider.

Security and management

On the blockchain, you prove ownership of bitcoins through control of a private key (similar to a password). This makes data security very important. Holding bitcoin means protecting your private key in ways that involve some level of technical skill and cost. You are able to encrypt your private key offline, or trust a third party like CoinJar to store your bitcoins for you.


The swinging price of bitcoin, or its ‘volatility’, is also a factor. Bitcoin trading is not for the faint of heart. Historically the price has fluctuated significantly, and seeing a 50% decrease in value in a day is not unheard of. This highly volatile market can be a benefit to skilled traders who can use the fluctuations to their advantage, however for many this does not make it an appealing investment.

Options to invest

Buy and hold

Buying bitcoin is the simplest way to invest, you exchange money for an agreed amount of bitcoin based on market rates. The market rates are dictated on open exchange, or you can also purchase off broker style market makers like CoinJar. If you buy bitcoin, you then need to hold bitcoin. You can set up an offline wallet (which you control, but requires high security) or use a third party wallet like CoinJar.


worker33As we mentioned earlier, transactions using the blockchain are verified by a distributed network of super-computers. If you contribute computing power to this distributed network, you will be apportioned some of the newly minted coins as a reward and incentive for processing the transactions. As more computing power adds to the network, the network adjusts so that the same amount of bitcoins are still generated relative to the increased computing power. This incentivises people to add more security muscle to the network. The result is that to generate profit from mining you need to buy large amounts of specialty gear and the margins are razor thin. Traditional computers simple do not offer enough power anymore.

Invest in a fund

Funds are emerging that own a particular amount of bitcoin and trade on open stock markets. Examples include GBTC, Second Market or the Winklvii’s ETF. This means you own shares in a company that holds bitcoin. This solves the security requirements, but then you pay brokerage and management fees on top.

Invest in a bitcoin company (or start one)

Bitcoin creates new models of transacting online and makes old models more efficient, which often brings profit. Many companies stand to benefit from the efficiencies of a distributed, hyper secure low-cost ledger. By investing in a company that is innovating in the space, or starting your own, you will be able to benefit from the technology without speculating on the commodity.

From this we can conclude a few things:

  • bitcoin has become a valid investment vehicle in the past few years
  • the fixed supply means it could be potentially lucrative
  • the concept is still experimental, so don’t invest your life savings
  • there are a lot of security and management considerations
  • you don’t need to buy bitcoin to ‘invest’.

It’s possible to invest in bitcoin, via technology, direct ownership or shares in an investment vehicle. It is not a get rich quick scheme, but it is ownership of tokens on a new type of value network that may or may not have huge utility in the future.

There are other avenues, like starting a bitcoin business, or investing in one that you predict will benefit from this type of technology. Whatever you choose to do, bitcoin is a financial force that can not be ignored. As for whether it’s an opportunity that can’t be missed? Only time will tell.


New features: Swipe auto-load and more…

There are now a few new additions to your CoinJar, thanks to your feedback!

Rename Accounts

Organise your CoinJar the way you like by naming your accounts. To do this:

  • From your Accounts list, click an account, 
  • Click “Actions”, and select “Edit account”,
  • Edit the account name, and  click “Save.”



Swipe Auto-Reload

Maintain the balance of your CoinJar Swipe! Auto-reload automatically refreshes your Swipe balance via your bitcoin account. To turn it on:

  • From your Account list, click your Swipe,
  • Click “Actions”, and select “Edit card”,
  • Turn on Auto-reload.



Bitcoin Addresses and Payment Requests

We’ve made finding your bitcoin address and QR code easier and more accessible. To do this:

  • From your Account list, click your Bitcoin account,
  • Click “Actions”, and select “View address”
  • You can copy your bitcoin address, or click the QR code to open your desktop bitcoin app,
  • To make a payment request, click “Request”.



Recover your Swipe PIN

Lost your PIN? No problem. To retrieve it:

  • From your Accounts list, click your Swipe,
  • Click “Actions,” and select “Recover PIN”
  • Follow the prompts!


You can also quickly Top up Swipe, or report a lost card.
Need more information? Visit our Support Knowledge Base.


Save time and money by getting paid in bitcoin

This walk-through covers how you can use bitcoin, as a contractor, to get paid faster and lower fees on both ends. bitcoin15

The intended audience is contractors and service providers who have clients overseas or who provide services internationally. It covers not only how to accept bitcoin (that bit is easy), but how you can show your client the easiest way to take advantage of the Bitcoin network as well.

Case Study
I contract out as a writer, and was asked to cover the Inside Bitcoins conference. They had the option of international wire, PayPal or bitcoin. I chose bitcoin. I sent them my invoice (we denominated in USD), they sent me my fee in bitcoin at the market rate, and I had the money in my CoinJar instantly. No $25.00 wire fee, no international transfer delays. I invoiced then had the money that day. Because I use CoinJar I was also able to spend it on dinner that night using my Swipe card.

Step 1 – Get a wallet

For this example I’m using CoinJar, but there are plenty of services that do the same thing. The key aspects are that you can convert bitcoin to cash, instantly, and the bitcoin to cash exchange rate is better than the foreign exchange rates (CoinJar is 1%, so no problem).

Set up a CoinJar

bitcoin58Step 2 – Show your client

This is the tricky part, because it may be a conceptual leap for them. But if they’re interested then walking them through it is pretty easy.

First explain the benefits:

  • 5% – 10% cost saving (perhaps offer a discount)
  • Instant settlement

If you like you can help them find an exchange, making sure it:

  • Is reputable
  • Allows them to hold a cash balance
  • Allows them to buy bitcoin and transfer out
  • Offers a competitive exchange rate

You can even send them this guide on using bitcoin to send money overseas.

Step 3 – make the transfer

Here the client simply needs to:bitcoin67

  1. Top up their exchange account with cash on their end
  2. Convert their local currency to the agreed bitcoin amount
  3. Transfer to your bitcoin address

Bonus points if they use a service like CoinJar, which offers hedged accounts, so they don’t need to worry about price fluctuations in between conversion and sending.

It really is that simple. Set up your wallet, help them set up theirs, store the money as dollars and just use bitcoin as the plumbing. You’ll save time and money, and learn something new.

Want to learn more? Read our guide about using bitcoin as a cash backup overseas.