Despite bitcoin crash, initial coin offerings attract Aussies to make money online
Warren Stokes knew nothing about bitcoin until his son began receiving yellow postal bags filled with $50 notes in the mail. The cash was from cryptocurrency trading when his son was still in high school — about seven years ago. “He explained to me he was on a group on reddit — 1,000 people were joining their computers together to mine, and again, honestly, I had no idea what he was talking about.” Mr Stokes, 58, is now a casual “crypto” investor himself. At a recent cryptocurrency meet-up in Sydney, he was there to learn about the latest craze: initial coin offerings (ICOs). An ICO uses blockchain technology to issue […]
CBA blocks credit card purchases of Bitcoin, other digital currencies
Commonwealth Bank customers will no longer be allowed to use their credit cards to purchase Bitcoin and similar digital currencies. The bank announced the new policy today. “Due to the unregulated and highly volatile nature of virtual currencies, customers will no longer be able to use their CommBank credit cards to buy virtual currencies,” the bank said. CBA customers will still be able to purchase and sell Bitcoin and its ilk through their transaction accounts and debit cards. “We have made this decision because we believe virtual currencies do not meet minimum standard of regulation, reliability, and reputation when compared to currencies that we offer to our customers,” the bank […]
Spendher bitcoin buying app launches in Australia
You don’t see instant verification, quick transfers and no daily limits, even for new customers, too often. A new cryptocurrency app called Spendher has launched in Australia. Unusually, it offers instant customer verification and no limits other than a whopping $100,000 per transaction. Unless you’re a big spend(h)er aiming to plonk down more than $100,000 on bitcoin, you won’t run into any limits at all. This is made possible with a fortuitous combination of timing, including the changing of rules around the InstantID system which Spendher uses. To get instantly verified, users can simply enter their details for on-the-spot verification rather than uploading photos, writing out statements or dealing with […]
Bitcoin on the map in Sydney’s city
Cryptocurrency has been hailed as the way of the future — digital assets which can be deposited, spent and exchanged for real world goods. Operating outside of central banks, cryptocurrency has increased in popularity since the concept found form in bitcoin — claimed to be the first of its type — just under a decade ago. At the end April last year the total value of all existing bitcoins exceeded $2.5 billion Australian dollars, millions of which are exchanged each day — including in the heart of Sydney’s CBD. Coinmap, a heatmap of registered businesses and ATMs which accept bitcoin, shows 30 locations in the City of Sydney — including […]
Ookami and National Currency eXchange to share IP, produce new digital asset technology
Ookami (ASX: OOK) has edged further into the cryptocurrency space after securing a collaboration agreement with National Currency eXchange Group, with the duo to share intellectual property to develop new synergies and technologies. According to Ookami, the collaborative agreement complements its business model to develop technological solutions that encompass blockchain technologies, smart contracts, anti-money laundering, identity management and verification, data markets, digital asset wallets and exchange platforms, security and encryption, among others. The National Currency eXchange is a platform for investors to trade cryptocurrencies such as Bitcoin and Ethereum. As part of the collaboration, Ookami and National Currency eXchange will create a “preferred” client model which enables people to use […]
Bitcoin finds a bottom as risk aversion grips global markets
What’s supposed to be the most volatile asset in the universe is proving to be a bastion of stability compared with wild swings and carnage in global equities this week. Bitcoin clawed its way back from the four-month low of $US5922 it touched on Tuesday, rebounding almost 45 per cent to $US8500. The S&P 500 Index and the Dow Jones Industrial Average both fell more than 5 per cent this week, wiping out gains for the year. Emerging markets stocks and currencies also plunged, while shorter maturity US Treasuries climbed as investors fled from risky assets to safe-havens. Bitcoin’s supporters are quick to extol the cryptocurrency’ virtues as an asset […]
Tether: How a cryptocurrency you’ve never heard of could tank the price of Bitcoin
Bitcoin is crashing, but you probably already knew that. However, if you haven’t spent the past few weeks desperately refreshing CoinMarketCap (or one of the other sites that tracks the value of cryptocurrencies) you may have missed a shocking drop that’s erased much of the value built up over 2017. Tether It’s still unclear exactly what’s causing the price of Bitcoin to drop so rapidly (currently hovering at around $8000, down from $21,500 a month ago). Of course, it’s no secret that the value of cryptocurrencies can be volatile, but recent reports suggest that one particular currency could be responsible for artificially driving up the price of Bitcoin, leading up […]
Local digital currency exchange Independent Reserve adds two new execs, turns to institutions
Independent Reserve, the Australian Digital Currency exchange, has added two executives to its senior management team as the company turns its attention to its growing stable of institutional and SMSF clients. Roman Stefanidi joined Independent Reserve as Chief Technology Officer in August, and Lasanka Perera as Head of Strategy in October. CEO Adrian Przelozny said the firm was now well positioned to grow as it focuses on institutional clientele. “Digital Currency has reached a level of awareness now where we’re seeing investors who have been waiting on the sidelines starting to enter the market,” he said. “Factors like the the new regulation by AUSTRAC, emerging ETFs and crypto […]
