How crypto currently looks in Australia
Australian crypto investors are like any others: long-term investors, short-term traders, and true believers who want currency beyond control of central banks. WHY ARE AUSTRALIANS BUYING CRYPTOCURRENCIES? Some are long-term investors, others are short-term traders, and some are true believers who want currency to be beyond the control of governments and central banks. All are hoping the value of Bitcoin (or their chosen asset) will appreciate over time as they become more readily accepted. WHY DO AUSTRALIANS NEED USE AUSTRALIAN EXCHANGES? Most people buy their first Bitcoin, Ethereum or other cryptocurrency using their day-to-day currency. If you hold Australian dollars and want to buy your first cryptocurrency, you need to […]
8 out of 10 Aussie Bitcoin traders are men
Eight out of 10 people trading cryptocurrencies in Australia are men, according to joint research by the Australian Digital Commerce Association and Accenture. Eighty-three per cent of the 312,633 customers registered across seven Australian exchanges at the end of 2017 were male, according to joint research by the Australian Digital Commerce Association and Accenture. The exchanges processed more than 2.7 million transactions in 2017 worth a total $A3.9 billion, at an average of $A1,430 per trade. Source: 8 out of 10 Aussie Bitcoin traders are men – SBS News
Xinja launches card and app, gets set to challenge Australia’s banking market
Xinja, which is building the first Australian, independent, 100% digital ‘neobank’, has launched its prepaid travel and everyday spending card and its app. The card is a prepaid, tap-and-go card, with no ATM fees here or overseas, and low international transaction/FX fees that make it a very competitive travel card. The app allows users to lock the card instantly, if it is lost, and is being designed to let users track their spending, with more features to be rolled out over the next few months. The card is being sent out to Xinja’s waitlist, made up of consumers who have signed up to be part of the development of a […]
ETFs the ‘starting point’ for Millennials
Almost 40 per cent of first-time ETF investors are Millennials, according to new research by BetaShares and Investment Trends. BetaShares and Investment Trends have launched a joint report that examines the attitudes of people who are currently invested in (or considering) ETFs. According to the report, the average age of ETF investors had dropped: the average age of those who began investing in ETFs five years ago was 56, whereas the average age of those who began investing in ETFs 12 months ago was 42. Furthermore, Millennials were found to have the greatest appetite for ETFs, with the report revealing this demographic made up 38 per cent of online investors […]
Ripple wants to invest in startups that will put its XRP cryptocurrency to work
Payments company Ripple says it plans to invest in startups and technology companies to develop more uses for XRP, its cryptocurrency that is currently the third largest digital token behind bitcoin and Ethereum based on total market cap. The value of XRP shot up in December and January following a crypto market rally that saw bitcoin reach nearly $20,000 per coin. The collective value of XRP was worth more than $128 billion at peak before a market crash in January walked those prices back significantly. Today, the token has a total market cap of around $30 billion but Ripple has come under fire for a perceived lack of use for […]
Australia’s AtlasTrend releases voice-activated finance bot
AtlasTrend, the financial investment platform helping Australians invest in global trends, is launching Australia’s first voice-activated personal investment assistant, Astro, once again challenging traditional institutions and approaches to investing money. One of the first voice-activated fintech bots in Australia, Astro is available on Google Home, Google Home Mini and Google Assistant devices, and uses verbal commands to allow transactional capabilities for AtlasTrend investors, and provide users with real-time responses and information on AtlasTrend’s investment portfolios and general investment info. Following Astro’s initial launch, the team are set to develop and roll-out additional capabilities throughout the year, further enhancing its functionality and user experience. Astro will inform users of AtlasTrend’s investments, […]
Chinese blockchain delegation hunts Aussie opportunities
A high-powered delegation of Chinese technology executives is in Australia this week for discussions on blockchain, including how China plans to apply it to trading relationships. The companies are a who’s who of China’s fintech elite. Senior managers from Ant Financial, WeBank, JD.com, ZhongAn, Wanxiang and OnChain have made the trip south. They’re being led by Ming Li, director of the China Electronics Standardisation Institute, which has responsibility for setting blockchain industry standards under China’s Ministry of Industry and Information Technology. Blockchain records and verifies transactions in synchronised databases providing transparency and security. The architecture will end up underpinning an “internet of value”, which proponents reckon will be as important […]
Digital currency exchange opens Australia’s first OTC desk for institutions
Independent Reserve, the Australian Digital Currency exchange, has opened Australia’s first over-the-counter trading desk for institutions wanting to make large digital currency trades. CEO Adrian Przelozny said the lack of block trading venues had been a barrier for institutions to participate in digital currency investment. “Digital currency markets are just like any other asset class, in that when the market sees a big trade coming through it will move the price against whoever is making that trade,” he said. “In equity markets they solve that problem with dark pools and sales trading desks, but there is no digital currency equivalent in Australia as yet. By establishing an OTC desk with […]
