Comparison of Bitfinex vs Coinjar [ 2024 ]

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

Your expert: Alejandro Borja

Bitfinex

Your expert: Xavier Tarrasó

Coinjar

Main points

Fees

0,10% /0,20%

Earns

Customer service

3/5

≤0,10%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.2 – Low fees for high-volume traders but higher for smaller trades.

3.8 – Reasonable fees with additional costs for premium services.

Level

0,10% /0,20%

≤0,10%

Brief explanation

Bitfinex’s fee structure is designed to cater to both high-volume and occasional traders. The exchange employs a maker-taker fee model, where makers, who add liquidity to the market by placing limit orders, typically pay lower fees than takers, who remove liquidity by matching orders already on the book. Fees for takers start at 0.20%, and for makers, they begin at 0.10%. These fees decrease significantly with increased trading volume, making Bitfinex an attractive option for active traders. Additionally, there are no fees for depositing cryptocurrencies, though withdrawal fees do apply and vary depending on the currency. Overall, Bitfinex’s fees are competitive within the industry, providing a fair balance between cost and the comprehensive features offered.

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.

Bitfinex

Year Founded: Bitfinex has been operational since 2012, establishing itself as one of the oldest and most stable players in the volatile cryptocurrency market. Its longevity speaks to its ability to adapt and improve in a rapidly evolving industry
Security Methods: Post-2016 hack, Bitfinex significantly ramped up its security measures, implementing state-of-the-art security protocols including cold storage of funds, two-factor authentication, and advanced encryption technology to protect user data and assets.
Trading Volume and Liquidity: Bitfinex consistently ranks among the top exchanges in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and scale of operation that Bitfinex maintains.
Reputation and Reviews: Despite past challenges, Bitfinex has maintained a strong reputation within the crypto community. It is frequently praised for its advanced trading features and deep liquidity, with many users advocating for its platform in various reviews and crypto forums.
Transparency: Bitfinex has taken steps to enhance its transparency, particularly in how it manages user funds and its operational status. The exchange regularly updates users about new features, security enhancements, and operational changes, helping build trust through openness.

Coinjar

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.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Token LEO

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

iFinex Inc.

CoinJar Pty Ltd.

Regulation

Not regulated

Regulated in Australia

Year founded

2012

2013

Founder

Jean

Asher Tan and Ryan Zhou

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitfinex	FEATURES	Coinjar
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.	Minimum Trade	CoinJar allows users to trade with small minimums, making it accessible for beginners to start with lower risk.
Fees are competitive, but high withdrawal fees may deter frequent traders.	Trading and Transaction Fees	The fees are slightly higher than some competitors, which could be a disadvantage for frequent traders.
Offers a wide range of cryptocurrencies, providing extensive trading options.	Number of Cryptocurrencies	CoinJar offers a solid range of cryptocurrencies, providing good options for users looking to diversify their portfolios.
Extensive crypto-to-crypto pairings offer flexible trading strategies.	Crypto-to-Crypto Trading Pairs	It supports various trading pairs, allowing users to trade directly between cryptos without converting to fiat first.
Generally transparent with operational and security practices but could improve in fee structures.	Website Transparency	The website is clear and informative, providing all necessary information about fees, services, and trading options without hidden details.
Bitfinex does not provide an exchange card for customers to use 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.
Provides secure storage options including cold storage, though it’s complex for beginners.	Storage Offering	Provides excellent digital wallet services with robust security measures, ensuring the safety of user assets.
Offers competitive staking options and rewards, enhancing user investment potential.	Staking and Rewards	Offers some options for staking and rewards but may not be as competitive or extensive as other platforms.
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.	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 available but response times can be slow during peak times.	Customer Service	Generally receives good reviews for customer service, though response times can vary during peak times.
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.	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

Advanced charting tools, multiple technical indicators, and APIs

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, lending services, staking, Bitfinex Pulse (social network)

CoinJar Card, recurring buys, CoinJar Bundles, CoinJar Exchange

Anonymity

Key points

Available cryptocurrencies

150+

30+

User-friendliness

Bitfinex provides a powerful platform with a user-friendly interface that caters to both beginners and advanced traders. While it offers advanced trading features, the platform is designed to be accessible and easy to use.

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

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

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

Global, including United States, Canada, United Kingdom, Australia, Germany

Australia, United Kingdom, Europe

Best for

Suitable for experienced traders and institutions looking for advanced trading features and a wide range of cryptocurrencies.

Ideal for Australian and UK investors looking for a user-friendly platform with competitive fees and strong customer support.

Base currencies available

USD, EUR, GBP, JPY, BTC, ETH, USDT

AUD, GBP, BTC

Account

Trading

Bitfinex is tailored for professional traders with its advanced trading features and high liquidity. It offers a wide range of cryptocurrencies but has had security breaches in the past, making some users cautious.

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

Bitfinex supports a wide range of deposit options, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive, though high-volume users may benefit more.

CoinJar provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

Bitfinex provides a straightforward and fully digital account registration process. Users need to submit personal details, verify their identity, and address. The process is quick, usually taking 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

Customer Service

Bitfinex provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, ensuring users get timely assistance.

CoinJar provides support through email and live chat. The support team is responsive and available 24/7, ensuring users get timely assistance.

Security

Bitfinex provides extensive security features, including 2FA, cold storage, and encryption. It is regulated by several financial authorities, making it a secure platform 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

As an expert on our website, I recommend Bitfinex for traders seeking a diverse and dynamic trading environment. The platform’s extensive range of cryptocurrencies and crypto-to-crypto trading pairs is impressive, making it a great choice for those looking to explore different trading strategies. While the trading fees and customer service response times could see improvement, Bitfinex’s advanced trading features and robust security measures make it a reliable option for serious traders.

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.

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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.