CoinJar Card review

Overview

The CoinJar Card is a prepaid Mastercard designed to bridge the gap between cryptocurrency and everyday spending. Issued by CoinJar, a well-known platform in the crypto space, this card allows users to spend over 60 cryptocurrencies seamlessly by automatically converting them to fiat at the point of sale. While it offers several features that cater to crypto enthusiasts, it’s important to consider both its benefits and limitations before deciding if it’s the right fit for your needs.

Users can choose between a digital and a physical card, both of which come with no issuance fee. The card supports both Apple Pay and Google Pay, making it convenient for users who prefer mobile payments. Additionally, the CoinJar Card is custodial, meaning CoinJar manages the security of your funds, which can be a relief for those concerned about self-custody risks.

How It Works

The CoinJar Card operates on the Mastercard network, ensuring wide acceptance at merchants worldwide. When you make a purchase, the card automatically converts your chosen cryptocurrency into fiat currency, allowing for smooth and instant transactions. This feature is particularly beneficial for users who want to avoid the volatility of holding fiat while still enjoying the flexibility of crypto.

One of the standout features of the CoinJar Card is its rewards program. For every dollar spent, users earn 1 CoinJar Rewards point. These points can be used to cover future trades on the CoinJar platform or redeemed in the CoinJar Rewards Store. Interestingly, the 1% purchase fee is returned to users as Rewards points, effectively offsetting this cost for active users.

Supported Features

• No fee to issue digital or physical card
• Apple Pay and Google Pay integration
• Earn redeemable Rewards points on spending
• Automatic crypto-to-fiat conversion at point of sale

Fees and Value

While the CoinJar Card offers several advantages, it’s crucial to understand the fee structure to assess its overall value. The card comes with a foreign exchange fee of 2.99% or higher, which is applied when you make transactions in a currency other than your card’s default currency. This fee is on the higher side compared to some other crypto cards, so frequent international travelers might find it less appealing.

Additionally, there is a 1% ATM withdrawal fee for physical card users. This fee applies to cash withdrawals, which is a consideration for those who prefer using physical cash. It’s worth noting that the card issuer does not publish a top-up fee, but users should be aware of potential network or blockchain fees when transferring funds to their CoinJar account.

Another fee to be aware of is the $27.50 transaction dispute fee. This fee is charged if you need to dispute a transaction, which is a significant cost and should be considered when evaluating the card’s suitability for your needs.

Who It’s For

The CoinJar Card is best suited for users who are already active on the CoinJar platform and want to integrate their crypto holdings with everyday spending. Its rewards program and automatic conversion feature make it an attractive option for those looking to simplify their financial transactions without leaving the crypto ecosystem.

However, users who prioritize low fees, particularly for foreign exchange and ATM withdrawals, might want to explore other options. Additionally, those who are not comfortable with custodial solutions should consider whether the convenience of the CoinJar Card outweighs their security preferences.

For more detailed comparisons, visit our crypto card comparison page. To understand our rating methodology, check out our how we rate page.

For more information on prepaid cards, visit our prepaid card category page.

Fees & costs

Pros & cons

Supported crypto

Coins:

Our take

The CoinJar Card offers seamless crypto-to-fiat conversion and rewards points, but its fees, especially for foreign exchange and ATM withdrawals, may deter some users.

Frequently asked questions