CoinJar

CoinJar is a cryptocurrency exchange platform that allows users to trade and securely store a diverse range of digital currencies, catering to both novice and experienced traders. CoinJar, founded in 2013 in Melbourne, Australia, operates as a cryptocurrency exchange platform enabling users to trade various cryptocurrencies. The company has undergone multiple funding rounds, with its latest funding round being a Seed round in September 2017, where it raised USD 0. 620 mn from investors including Blackbird and Boost VC.

The founders of the company are Asher Tan and Ryan Zhou, with Asher Tan serving as the CEO. CoinJar has successfully completed a total of 4 funding deals to date. CoinJar's primary offering is its cryptocurrency exchange platform, which enables users to buy, sell, and store a diverse range of over 60 cryptocurrencies. The platform seeks to simplify the process of cryptocurrency trading for both beginners and experienced users by providing a user-friendly interface and advanced trading features.

CoinJar's services are designed for individual consumers looking to invest in or trade cryptocurrencies, as well as those who wish to securely store their digital assets. The company operates in multiple geographical markets, including Australia, the United Kingdom, and, as of its latest announcement, the United States, where it aims to introduce its innovative financial solutions to the growing crypto community. Its commitment to security is evident through its high-level asset storage practices, with the majority of customer funds kept in offline or multi-signature wallets. CoinJar generates revenue primarily through transaction fees charged during cryptocurrency trades conducted on its platform.

When a user buys or sells cryptocurrencies, a fee of 1% is applied to the transaction, which constitutes a significant portion of the company's income. In addition to transaction fees, CoinJar may also charge a flat fee for certain deposit methods, such as a USD 10 fee for wire transfers, contributing to its overall revenue structure. The exchange operates on a direct-to-consumer model, allowing end users to engage in transactions without intermediary brokers. Although specific pricing plans for additional services were not detailed, the company’s competitive fees and diverse cryptocurrency offerings position it as a reliable exchange platform.

In September 2017, CoinJar raised USD 0. 620 mn in Seed funding to support its ongoing development and expansion efforts. The company is focused on designing and launching new products that enhance user experience and accessibility in trading. Additionally, CoinJar plans to expand its services into the United States market, targeting a growing community of cryptocurrency users.

The recent funding will aid in the execution of these initiatives and help facilitate entry into new markets.