This article is intended for Australian members. If you're looking for instructions for CoinJar UK, visit this article.
The CoinJar Trading Desk is a service for individuals and organisations to make off-exchange, over-the-counter (OTC) larger trades of around $50,000 AUD and above. It's a great platform due to its 1-on-1 service, competitive rates, and flexible settlement times.
To get started with OTC trades on CoinJar, you'll need:
- a fully verified CoinJar account
- to pre-fund your CoinJar account with the assets you plan to trade (buy or sell)
- to make any bank transfers from an account that matches the CoinJar's 'beneficial owner' name
- at least $50,000.00 AUD minimum per trade
How do I fund an OTC trade?
You can fund your CoinJar account as you normally would by making a deposit in fiat or receiving cryptocurrency using the CoinJar app.
What's the difference between CoinJar OTC and CoinJar?
- There are no extra fees. The prices quoted via the OTC desk are all-inclusive prices.
- Price is guaranteed once both parties agree to the deal.
- There is no slippage.
- Price quoted via OTC has Bid/Ask spread. The spread will depend on market conditions and the spread is larger than the CoinJar App, due to the large trade size.
- Price is exclusive of fees. 1% fee is applicable.
- Price is binding for up to $2000 AUD.
- There will be slippage when trading larger sizes.
- Price quoted via the CoinJar app has Bid/Ask spread. The spread will depend on market conditions but it is lower than OTC due to the small trade size.
Should I use the CoinJar OTC desk or the CoinJar app?
Customers should consider their own circumstances. Generally speaking, retail customers mostly use CoinJar app, where experienced customers will use CoinJar OTC when trading larger sizes.
Contact the Trading Desk
CoinJar's Trading Team operates 9:00am - 5:30pm (AEST), Monday to Friday. If you anticipate you’ll need a trade outside those hours, please let us know and we’ll do our best to assist.