CoinJar celebrates three years of business, launches Rewards program

UK based bitcoin exchange CoinJar just recently celebrated three years of being in business.

Founded on May 1, 2013, CoinJar started out as a simple way to get users to buy and sell bitcoin. The exchange started in Australia, but last year due to banking issues they relocated part of their business to the United Kingdom.

The history of CoinJar hasn’t always been positive, as the co-founder Ryan Zhou has been marred by past dealings with now-closed bitcoin exchange Bitcoinica, where even as recent as last year new information has been uncovered about what exactly happened to the bitcoins from the past hacks which mysteriously point to some involvement with Ryan Zhou. The Bitcoinica scandal even birthed a saying, “don’t get Zhou Tonged,” which was turned into a song by bitcoin YouTuber, “ZhouTonged.”

Although, it seems enough time has passed where CoinJar has been able to build it’s own reputation. Knowing they have been in business for three years, shows that they are doing something right. Running a successful business in the bitcoin space for three years is considered a long time. Some people vouch for them now, saying they are the “best” service without encountering any problems.

Rewards Program

With the three year milestone under their belt, the bitcoin exchange has announced a new loyalty program called CoinJar Rewards. The program uses points to save on exchange fees or redeem a free CoinJar Swipe. There are redemption options on their Rewards Store including VPN Secure, Fastmail subscriptions and gift cards. CoinJar Points are not money and will not be redeemable for bitcoin or cash. CoinJar plans to have CoinJar Points integrated with the bitcoin blockchain, saying “it [the blockchain] is supported but not yet implemented.”

CoinJar says they currently have over 70,00 users and have contributed to government discussion on digital currency and FinTech. For more information on CoinJar Rewards and a full table of convertibility, please refer to their Knowledge Base.