Selfwealth first to market in offering access to cryptocurrencies through its share trading platform
Share trading platform Selfwealth will become the first investment platform to offer direct investment in five popular cryptocurrencies from June 30, 2022.
And from today customers will be able to familiarise themselves with the tokens on offer based on live data from the BTC Markets exchange – this includes market depth lists and charts and token performance over time.
The introduction of cryptocurrency supports Selfwealth’s transition to becoming Australia’s premier platform for wealth creation for retail investors and follows strong client demand.
Cath Whitaker, CEO of the popular share trading platform said the solution is based on feedback from clients who requested a simple interface, information on cryptocurrency as an asset type and associated risks, and thoughtfully selected tokens available.
“We are giving clients access to the cryptocurrencies that will be made available in the Selfwealth platform from June 30, because we want them to conduct their own research and be comfortable with the decision to invest in a riskier asset.
“We have been rigorous in our approach to this complex asset class. It is important for us to take careful, measured steps and we’ll be taking those same steps alongside our customers.
“From our initial research which showed investing in cryptocurrencies would be a valuable addition, to choosing BTC Markets as our partner, and then months of due diligence from regulatory requirements – it’s been quite the journey.
“We know investing in cryptocurrency won’t be for everyone, but our research shows that 30% of the Selfwealth cohort were already investing in cryptocurrencies and 38% were intending to invest in the future.
“We have already beefed up our programs to educate retail investors on a variety of topics and we intend to roll out even more related specifically to crypto-assets, and other new asset types.”
Currently, moving between asset types requires access to multiple trading platforms and for investors to move money multiple times. It all now happens in one, trusted place.
Selfwealth clients will be able to invest in all or part of a token with the trade set at a competitive flat percentage.