Covering CoinJar Points and how to earn and redeem them.
CoinJar Rewards is a rewards system built into CoinJar that allows you to accrue points as you use your CoinJar every day. CoinJar Points can then be used to cover currency exchange fees, or redeemed for other products.
Once activated, CoinJar Points will automatically be added to your CoinJar Rewards account as you perform certain actions as part of your regular CoinJar use.
Activating CoinJar Rewards
In order to be eligible for CoinJar Rewards, you'll first need to be fully verified.
- Once signed in to your CoinJar, navigate to your Accounts page.
- Underneath your existing Accounts, you'll see 'CoinJar Rewards'. Select 'Activate account...' and a new dialogue box will be displayed.
- Once you've read the information regarding CoinJar Rewards, select 'Activate' to begin. From here, you can see the CoinJar Points you've earned by navigating to your Accounts page and viewing the new CoinJar Rewards account.
Earning CoinJar Points
|Completing any bitcoin conversion that requires fees||
500 CoinJar Points per bitcoin traded
|CoinJar Swipe purchases||
5 CoinJar Points for each transaction
|Payment from CoinJar to an external BPAY Biller||
1 CoinJar Point for each $5 sent
When earning CoinJar Points during currency conversion, the number of points you receive are rounded to the closest full point. CoinJar Points are not divisible.
Transfers between Hedged Accounts and a Cash Account or linked bank account will not earn CoinJar Points, as the transaction doesn't involve bitcoin.
As CoinJar Rewards continues to grow, further ways to earn CoinJar Points will be added.
Redeeming CoinJar Points
There are a number of ways you can redeem your CoinJar Points, including fee-free transfers, Swipe cards and other items available on the CoinJar Rewards Store.
CoinJar Rewards Store purchases
CoinJar Points can also be used to redeem items from the CoinJar Rewards Store.
If you don't yet have a CoinJar Swipe, you can use CoinJar Points to complete your order. A Swipe card can be redeemed for 2,000 CoinJar Points.
- Once you've begun ordering your Swipe card, you'll be required to transfer at least $29 to your Swipe account to place your order. This can be covered by CoinJar Points instead.
- From your Accounts section, you will be shown "Only one step left until your CoinJar Swipe order is complete! Complete order now". Selecting this link will take you to your Transfers page.
- You'll be given the option to 'Get card for free', which will allow you to use 2,000 CoinJar Points to redeem a Swipe card instead of paying the $29. At this point in time, a partial payment using CoinJar Points isn't possible - you will need to be able to cover the full amount using CoinJar Points.
Use your accumulated CoinJar Points to perform a bitcoin exchange without the typical conversion fee. When making a new transfer, provided you have enough CoinJar Points available, you'll be provided with the option to spend some CoinJar Points to cover the cost of your exchange fee. 2,500 CoinJar Points are needed to cover the conversion cost of each bitcoin traded. This 2,500:1 ratio is automatically calculated for smaller transfers.
As CoinJar Rewards continues to grow, additional ways of spending CoinJar Points will be made available.
Updated: 27 Sep 2017 (AS)
Reviewed: 5 Oct 2017 (AS)