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

Sending a new payment

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 a pre-saved contact, a CoinJar username, or a wallet address.
   
4. Enter your recipient's details.
5. Enter the amount you wish to send. 
6. Select 'Review and Confirm' for your final quote. You'll be given a chance to review your payment and attach a note if you wish. Select 'Pay now' to finalise the payment.

All payments from one CoinJar to another are processed instantly. Payments to external cryptocurrency wallet addresses will arrive depending on the confirmation speed of that currency's blockchain.

Please note that Bitcoin transfers to external Bitcoin addresses will require a transaction fee in order to be processed.

Bitcoin payments

Payments to non-BTC addresses

Bitcoin shares the same address format as other cryptocurrencies such as Bitcoin Cash. However because CoinJar does not support these other currencies, the payments will always be sent as Bitcoin. Any funds sent to a non-BTC address will be lost, and cannot be reversed or refunded.

Due to the risk of accidentally sending BTC payments to a non-BTC address, CoinJar will always warn you when making a payment, as shown in the screenshot below.

Bech32 payments

CoinJar now supports payments to Bech32 addresses. Members are able to send funds to a Bitcoin address beginning with "bc1". 

Ethereum payments

Ethereum Classic

CoinJar does not support Ethereum Classic for sending or receiving. Because Ethereum Classic (ETC) addresses cannot be distinguished from Ethereum (ETH) addresses, entering an Ethereum Classic address will always result in that amount being sent on the Ethereum network, which will cause loss of funds.

Ethereum transactions not being recognised by another exchange or wallet

CoinJar sends Ethereum payments via a 'contract address', also known as smart contracts, as opposed to a stand-alone Ethereum address. This is done to ensure funds held by CoinJar are as safe as possible.

While this is standard among most exchanges and wallets, some are unable to recognise funds sent in this manner, even though the Ether has successfully arrived. Unfortunately, until these parties expand their Ethereum capabilities, any un-recognised transaction will need to be manually credited by the exchange or wallet operator. Providing your receiving wallet host with your blockchain transaction ID will allow them to resolve this.

Sent payments being displayed as having no value on the blockchain

Another result of structuring Ethereum payments in this way is that blockchain explorers display '0 Ether' or '$0.00 USD' under the 'Value' field. While the initial transaction doesn't contain your funds, it informs the CoinJar Ethereum contract to forward your payment to the Ethereum address you specified.

The funds have been sent successfully - blockchain explorers will typically quote this amount and your destination address under the 'To:' or 'Actions' field.

Sending to ICO Addresses

CoinJar does not currently support ETH payments to ICO (Initial Coin Offering) addresses, and any payments to ICO addresses will fail to confirm on the blockchain if sent. In order to make any outgoing Ethereum payments using CoinJar, you are required to confirm you are not sending to an ICO address.

ERC-20 payments

ERC-20 - the Ethereum token standard - is currently supported for a limited range of tokens.  CoinJar supports USD Coin (USDC), Dai (DAI), Basic Attention Token (BAT), 0x Token (ZRX), Uniswap protocol token (UNI), Chainlink (LINK), Maker (MKR), OMG Network (OMG), Compound (COMP), yearn.finance governance token (YFI), Aave (AAVE), Bancor Network Token (BNT), Curve DAO (CRV), Kyber Network (KNC), Paxos Standard (PAX), Synthetix Network Token (SNX) and SushiSwap (SUSHI).

Litecoin payments

Legacy P2SH addresses

Litecoin addresses come in three types, as outlined in the table below. Because Legacy P2SH addresses (starting with a "3") can be confused with Bitcoin addresses, they are not supported by CoinJar. Attempting to send funds to a Legacy P2SH address will instead result in CoinJar recognising a Bitcoin address and making your payment to the Bitcoin network.

Similar address rules apply when receiving Litecoin payments into your CoinJar.

Ripple (XRP) payments

XRP address reserves

In order for new XRP addresses to be able to receive payments, they must first hold a minimum amount of 20 XRP in reserve. Ripple (the company behind XRP) has designed XRP addresses this way in order to prevent unnecessary wallets from being created.

When sending an XRP payment to a brand new XRP address, please ensure you're sending at least the minimum reserve amount at the time, or the payment will not be successful.

Further details regarding reserves can be found on the official Ripple website.

Lumen (XLM) payments

Memo ID

When sending an XLM payment from CoinJar, be sure to check if your destination address requires a Memo ID. Omitting a Memo ID may result in irrevocably losing funds. 

Algorand (ALGO) payments

To send ALGOs to an ALGO address, simply input the ALGO wallet address as per any standard transaction. 

EOS (EOS) payments

EOS utilises Destination Tag technology and a Memo is required to send EOS to CoinJar. Omitting or using an incorrect Destination Tag / Memo will cause issues in crediting the transaction to your CoinJar account, and the funds may not be recoverable.

Polygon (MATIC) payments

Polygon operates both on the existing ERC-20 standard and its own main-net. CoinJar only supports sending and receiving Polygon via the ERC-20 standard. Sending Polygon (MATIC) via its main-net is not supported and will result in loss of funds.

Fantom (FTM), Chiliz (CHZ), Band (BAND) payments

CoinJar only supports sending and receiving these via the ERC-20 standard on the Ethereum mainnet. Sending these tokens via any other chain or network is not supported and will result in loss of funds.

Internal (off-chain) payments

Sending cryptocurrency payments 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 payment.

Whether you're sending to a CoinJar generated receiving address, or a CoinJar username, the payment 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.

For XRP transfers, you must always include the customer's destination tag at the end of the receiving address or the payment will not be processed correctly.