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Sending and receiving cryptocurrencies using the CoinJar app

  • Updated


With funds available in your CoinJar, you can send a new transfer to any CoinJar member, contact or cryptocurrency address by making a new transfer. 

 

Authorising transfers

If you've enabled passcode or biometrics options in the CoinJar app, you'll be required to authorise any transfers from your CoinJar using the security method you've enabled. This feature is helpful to prevent unauthorised transactions from being sent from your CoinJar.

 

Sending cryptocurrencies

  1. After signing in to your CoinJar, select 'Send'.
  2. Select the account from which you wish to sends funds.
  3. Select the type of recipient - you can choose from sending to a wallet address, a pre-saved contact in your Address Book, a CoinJar username, or to scan a QR code.
  4. Enter your recipient's details.
  5. Enter the amount you wish to send. 
  6. Select 'Next' for your final quote. You'll be given a chance to review your transfer and attach a note if you wish.
  7. You can choose to remove transaction fees by using your CoinJar Rewards Points (provided you have enough points).
  8. You can also choose to reduce your transaction fee by delaying the transaction 15 minutes.  
  9. Select 'Confirm' to finalise the transfer.
  10. Before finalising your transfer, be sure to check that you have entered the correct address and any supplementary information such as the destination tag or Memo ID, if applicable.

After the transaction has been submitted, you'll receive a transfer receipt which can be shared with the recipient if needed.

When sending funds to a Contact from a cryptocurrency account, for example your Bitcoin account, the Contact will only appear as a possible destination if an address matching the sending currency is saved to that Contact.

 

Receiving cryptocurrencies

Before receiving cryptocurrencies into your CoinJar, you should review CoinJar's address requirements.

  1. Open the CoinJar app 
  2. Tap on the "Deposit" button.
  3. On the deposit method screen select "Cryptocurrency"
  4. Select the Cryptocurrency you wish to receive
  5. Select the network you wish to receive on
  6. Review any warnings about receiving funds and tap the 'Copy' button, or share the QR code to receive transfers at this address.

 

Internal (off-chain) transfers

Sending cryptocurrency transfers to any external address will send that amount via that currency's blockchain. However if your recipient is also a CoinJar member, you can send the amount directly to their CoinJar, avoiding the blockchain altogether. This is called an internal, or off-chain transfer.

Bitcoin transfers

Whether you're sending to a CoinJar-generated receiving address, or a CoinJar username, the transfer will automatically be processed internally. No blockchain processing fee or delay will occur. Outgoing Bitcoin transfers will fail to send if the amount being sent is below our system’s minimum requirement of 0.0001 BTC.

 



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