Author: Crypto News Australia

Crypto News Australia provides you with the most relevant bitcoin, cryptocurrency & blockchain news.

Categories
Stablecoins

Best Stablecoins for Australia

Stablecoins are a class of cryptocurrency developed to solve the problem of price stability as they are pegged to a reserve asset such as the US dollar. They provide price stability and liquidity to markets that operate on the blockchain. 

The first fiat-backed coin was introduced in July 2014. Called Tether (TUSD), it is backed 1:1 by the USD. Since then there have been many more stablecoins emerging to help provide liquidity to crypto investors and traders while also supporting various networks to provide compatibility conversions for decentralised finance. 

Blockchain-powered stablecoins have provided the world with global liquidity, instant processing of cryptocurrency payments, volatility-free stable valuations of fiat currencies, and interest-bearing liquidity providers. Let’s take a look at the different types of stablecoins and the best stablecoins to use in Australia. 

Types of Stablecoins 

There are essentially three types of stablecoins: 

  1. Fiat-backed – these are backed off-chain by fiat currency such as USD. 
  1. Crypto-backed – these are backed on-chain by cryptocurrencies such as BTC. 
  1. Commodity-backed – these are backed by physical assets such as gold and silver. 

Stablecoin Comparison Table

Stablecoin NameSymbolIssued byTypePegged MarketcapFeatures
TetherUSDTTether Limited, Hong KongFiat-CollateralizedUSD 1:1$62,485,619,423*High liquidity
USD CoinUSDCCircle, USAFiat-CollateralizedUSD 1:1 $27,716,248,195*ERC-20 Support
Wrapped BitcoinWBTCBitgo, USACrypto-CollateralizedBTC 1:1$8,452,503,642*ERC-20 Support, DeFi
Binance USDBUSDBinance, USAFiat-CollateralizedUSD 1:1 $12,316,647,148*ERC-20 Support
Maker DaiDAIMakerDAO, DenmarkCrypto-CollateralizedUSD 1:1 $5,793,513,856*Soft-pegged, DAO company
Terra USDUSTTerra, KoreaCrypto-CollateralizedUSD 1:1, WON 1:1$2,069,164,210South-Korea support, LUNA
True USDTUSDTrust Token, USAFiat-CollateralizedUSD 1:1$1,257,312,669TrustToken support, ERC-20, BSC
Paxos StandardPAXPaxos Trust Company, USAFiat-CollateralizedUSD 1:1$928,027,288ERC-20 support
HUSDHUSDHuobi, ChinaFiat-CollateralizedUSD 1:1$492,682,951ERC-20 Support
Synthetic USDsUSDSynthetix, AustraliaCrypto-CollateralizedUSD 1:1$274,386,960DeFi
Stablecoin comparison table by marketcap

*marketcap displayed in Australian Dollars as at August 9, 2021

Tether (USDT) 

Tether (USDT) is the first and one of the most popular stablecoins on the market with a market capitalisation of over US$62 billion. The premise of Tether’s appeal came from its value being pegged to the US dollar. Each Tether issued into circulation was said to be backed by a one-to-one ratio. Although 1 USDT tries to be worth 1 USD, it does fluctuate between $0.9992 and $1.0024 micro values, as seen in the graph below. 

USDT Stablecoin Price Fluctuations 

Tether has also come under scrutiny with claims that USDT is not backed by an equal amount of USD fiat currency, as its market cap grows by large $2 billion amounts minted on the blockchain. The company has since altered its claim from being backed by cash reserves to now being backed by “reserves”, of which fiat cash is just a small portion. Tether insists that the value of its assets equals the number of Tethers in circulation, although this claim has been consistently challenged. 

USD Coin (USDC) 

USD Coin (USDC) is a fully collateralised digital stablecoin that is pegged to the USD and runs on multiple blockchains including Ethereum, Stellar, Algorand and Solana, and also works on the Hedera Hashgraph system. The USDC coin was created by Circle and Coinbase, and reserves of the US dollar for this stablecoin are audited by Grant Thornton LLP. 

USDC has recorded growth of over 450 percent since the beginning of 2021. Investors can also use stablecoins such as USDC to earn yield on holdings, attracting interest rates as high as 11% by staking USDC coins on Zipmex. 

Wrapped Bitcoin (wBTC) 

Wrapped Bitcoin (wBTC) are crypto-backed stablecoins in the form of an ERC-20 token. The stablecoin operates on the Ethereum blockchain and represents the exact price of Bitcoin. The goal of wBTC is to bring Bitcoin’s price value into play and combine it with Ethereum’s programmability. 

Each wBTC is backed 1:1 with BTC, as a wrapped token allows for bitcoin transfers to be conducted faster on the Ethereum blockchain and opens up the possibility for BTC to be used from within the Ethereum ecosystem.  

Bitcoin is held in custody by the centralised custodian, BitGo, who provide the converted wrapped and unwrapped Bitcoins between parties using smart contracts. 

Binance USD (BUSD) 

Binance USD (BUSD) is a stablecoin created by Binance exchange, which is 1:1 USD-backed and approved by the New York State Department of Financial Services (NYDFS), issued in partnership with Paxos. 

You can use BUSD for storing funds and transacting across the Binance platforms, including direct trading pairs and converting to other stablecoins with zero transaction fees. You can also earn yield when staking your BUSD coins with Binance.com Lending. 

Maker Dai (DAI) 

Maker Dai (DAI) is the native stablecoin for the Maker protocol and the world’s first crypto-collateralised and decentralised stablecoin. The value of DAI is soft pegged to the USD, which means it is backed by a diversified portfolio of collateral crypto assets instead of fiat currency with institutions. 

DAI is a decentralised stablecoin with MKR token holders governing the decisions around the Maker Protocol as to which DAI is used. There are some common myths about DAI which you can read to find out more. 

Reserve Rights (RSR) 

Reserve Rights (RSR) is the governance token for the Reserve Project, which aims to create a censorship-resistant stable crypto that countries with high inflation can use for decentralised fiat on/off ramps. 

Ultimately, Reserve’s goal is to create a universal store of value, particularly in regions with unreliable banking infrastructure and where hyperinflation is an issue. 

Standard (PAX) 

Paxos Standard (PAX) is backed one-to-one by USD deposits available to buy from New York-based blockchain company Paxos. On redemption, PAX tokens are immediately removed from the supply to keep the supply elastic based on demand fluctuations. 

PAX claims to be the most liquid regulated stablecoin in the world, with the fastest USD conversions. The ERC-20 PAX token is listed on over 150 crypto exchanges, making it one of the most widely available stable cryptos for use for trading. There is also a token called Pax Gold (PAXG), which is an asset-backed token where one token represents one fine troy ounce of a London Good Delivery gold bar, stored in professional vault facilities. 

Huobi USD (HUSD) 

Huobi USD (HUSD) is another ERC-20 token pegged 1:1 to the USD created for Huobi crypto market. This was done to allow multiple stablecoins such as PAX, USDC, TUSD and GUSD to be deposited and automatically converted into HUSD for easy display and use within the Huobi platforms. 

True USD (TUSD) 

TrueUSD (TUSD) is yet another ERC-20 based stablecoin pegged to the USD. There are versions of True for other fiat currencies including: 

  • TUSD – pegged to the US dollar USD 
  • TGBP – pegged to the British pound GBP 
  • TAUD – pegged to the Australian dollar AUD 
  • TCAD – pegged to the Canadian dollar CAD 
  • THKD – pegged to the Hong Kong dollar HKD 

These digital asset tokens are built on the TrustToken platform where they can be staked to earn staking rewards. 

Synthetix (sUSD) 

Synthetix (sUSD), previously known as Havven, is a crypto-collateralised network enabling the creation of on-chain synthetic assets on the Ethereum blockchain. These assets are over-collateralised to provide sufficient liquidity for users to redeem collateral at face value. 

Beyond sUSD, Synthetix plans to offer stablecoins for other legal tenders such as the euro, yen and the Korean won, to drive the DeFi ecosystem liquidity and utility to new levels. 

Categories
Press Release Zipmex

Zipmex Announces Partnership with Visa in Asia Pacific

Zipmex announces partnership with Visa in Asia Pacific to bring the benefit of revolutionizing payments to business across its four markets.

With the direct partnership with Visa, Zipmex forges new connections between digital currencies and payment networks to create new innovative payment products.

SINGAPORE, August 6, 2021 — Zipmex, Southeast Asia’s leading digital asset platform announced a major strategic partnership to take advantage of the combined strength of Zipmex and Visa’s global payments platform and network. This will allow the company to revolutionise how people spend their digital assets across its markets. Already a regional leader in digital asset payments, Zipmex plans to launch an innovative new payment product later this year.

Extending the flexibility and convenience of Zipmex’s payment program, ZipSpend, customers will soon have the option to get access to the 70 million merchants in Visa’s global network as it seeks to bridge digital assets with traditional payment infrastructure. Visa, the world’s leader in digital payments recently announced that US$1 billion had been spent using its crypto-supported cards in the first half of 2021.

“Visa is the perfect partner for us as we move forward with our innovative payment products,” said Zipmex CEO Marcus Lim. “Visa has proven itself over the last 10 years to be at the forefront of payment innovation, a strategy which aligns very much with our own. We thank Visa for its support and look forward to a strong and lasting relationship.”

Zipmex is the only exchange that is live and operating in four jurisdictions in a legally compliant manner, and this is a path the company will continue to follow. Through its easy-to-use mobile apps and websites, users get access to a variety of financial services, including digital payments, an exchange, and interest-bearing accounts. To date, the platform has transacted over US$1 billion in gross transaction volume since its launch in late 2019. In January this year, the company secured $6 million in a funding round led by Jump Capital.

“The partnership between Zipmex and Visa represents a ground-breaking development for Southeast Asia which is backed by the integration of digital assets and blockchain infrastructure and the mainstream payment platform which will offer compelling opportunities to expand their use in payments and fintech applications,” added Mr. Lim. “We are glad to be the market-entry partner for Visa into markets like Thailand. Any payment product we release will have been approved by the respective regulatory bodies first. As we are in the unique position of launching the first product of this kind, we have been able to provide support and guidance to help regulators pass effective digital asset legislation. This has been one of the more fulfilling aspects of this project.”

Zipmex and Visa will work together to educate and enable Visa’s global network of global fintech

partners and marketplace partners looking to benefit from the power of digital assets for worldwide payments. The innovative new payment product, a Visa-branded payment card, will give cardholders the freedom to convert their digital assets to fiat currency to spend anywhere Visa is accepted, backed by the reliability, speed, and security of the Visa network. The new payment card will be available to anyone who has passed its KYC process, subject to local compliance and regulation. Further details will be announced later this year.

For more information, please visit zipmex.com.

Categories
Blockchain Crypto News Market Analysis Tether TRON

$1 Billion Transaction on Tron Blockchain Sparks Interest

In the early hours of August 6, a super large transaction of US$1 billion worth of USDT stablecoin was transferred from an exchange to an unknown wallet on the Tron blockchain.

US$1 billion Tron blockchain transaction

USDT Runs on Eight Blockchains

Tether (USDT) is a popular stablecoin whose value is pegged to the US dollar. USDT is a ERC-20 token that currently runs on eight blockchains including Algorand, BCH, EOS, Ethereum, Liquid Network, Omni, Tron and Solana.

The interoperability of stablecoins to transfer between multiple global networks shows the true power of blockchain technology.

Sam Deering, CEO, Crypto News Australia

Other Recent Whale Transactions

There have been quite a few recent whale transactions including a US$430 million Bitcoin transaction for a fee of $82, although a $0.80 fee would have been enough. This was a $430 million instant settlement with no middleman or banks involved.

In February this year we saw a similar transaction as US$1 billion worth of BTC was moved from an exchange into cold storage.

Categories
Crypto Memes

Crypto Memes of the Week – Aug 6

Let’s have a laugh at this week’s topical memes. And my golly gosh we need them this week!!

Twitter humour…

Dreaming of new highs…

New dips…

The big dipper from cryptocurrencymemes
Where ya sh1tcoin at? from cryptocurrencymemes

Bitcoin bugs be like…

DOGE meme of the week

Tune in next Friday for more meme mayhem!

Categories
Australia Bitcoin Crypto News Cryptocurrency Law

10 Best Crypto Lawyers in Australia

If you’re investing in crypto or your business uses blockchain, you will no doubt be in need of a lawyer at some stage in the game to help navigate the rules and regulations of this fast moving space.

Here is a list of the 10 best crypto lawyers in Australia offering expert advice providing legal services for all things cryptocurrency, including: initial coin offerings (ICO), smart contracts, digital assests, financial products and cryptocurrencies, blockchain businesses, securities laws and more.

Salerno Law

Salerno Law provides expert legal solutions to clients in Australia and overseas, with offices in Western Australia, Queensland, South Australia, Victoria, New South Wales, Los Angeles and Ayrshire in the UK. The Salerno team has international knowledge of legislation and regulations, while also focusing on clients’ needs at a local level. The team of crypto lawyers includes managing partners Matteo Salerno and Emma Salerno, and expert fintech lawyer Krish Gosai, who co-founded DayTek Capital, a Queensland-based Financial Services/Fintech company, which was granted an AFS licence in approximately six months. The company has developed a range of innovative banking products and services in both the fiat and cryptocurrency space. 

GT Law  

Gilbert and Tobin Law recognises that developments in the local financial technology (fintech) landscape have elevated Australia as a leader in this sector. GT Law aims to help clients navigate all aspects of cryptocurrency regulation. The firm is headed by co-founder and managing partner Danny Gilbert, with partner lawyer Simon Burns, a specialist in Technology + Digital and fintech.

Lander & Rogers

Lander & Rogers is a multi award-winning law firm providing advice for blockchain businesses. Its excellent stable of lawyers practising Blockchain and Digital Assets law includes Jared Smith, Lisa Fitzgerald, Robert Neely and Simon Davidson. These lawyers specialise in smoothing the path through legal issues that can delay or derail the development of new products and processes. They provide legal and commercial advice to: technology founders and startups; foreign blockchain businesses entering the Australian market; and established Australian companies launching blockchain projects. Lander & Rogers’ blockchain law team combines comprehensive technical knowledge with the expertise and experience of a leading commercial law firm. It is one of few Australian firms with the expertise to help businesses realise the potential of blockchain and distributed ledger technology. Impressively, Lander & Rogers board member Dr Philippa Ryan is a lead author of international standards for smart contracts through her role with Standards Australia’s Blockchain Technical Committee. She has published two books in the field of blockchain and digital trust, and sits on the editorial board of Stanford’s Journal of Blockchain Law and Policy.

Nicholson Ryan Lawyers

Melbourne-based firm Nicholson Ryan Lawyers acts for a number of Australia’s largest cryptocurrency providers. The team has considerable experience with: blockchain and cryptocurrency-related transactions; establishment of cryptocurrency exchanges and funds; initial coin offerings (ICO); preparation for possible regulatory changes; and AFS licensing advice and compliance. Director Shannon Ryan leads Nicholson Ryan’s financial services and corporate transactions section, her areas of expertise including ASX listing rules, capital raising (public and private), financial services and managed investment schemes, bitcoin transactions, cryptocurrencies and cryptocurrency exchanges.

LegalVision

LegalVision is a tech-driven, full-service commercial law firm that uses technology to deliver a fast, high-quality and cost-effective client experience. The majority of its clients are LVConnect members. By becoming a member, you can stay ahead of legal issues while also staying on top of costs. From just $119 per week, get all your contracts sorted, trademarks registered and questions answered by LegalVision’s highly experienced business lawyers.

Neo Legal

Neo Legal specialises in blockchain technology. They are first and foremost lawyers who are passionate about tech and business. Its specific interest in the cryptosphere has led Neo Legal to become a blockchain law firm working with all aspects of blockchain technology and cryptocurrency, with a team of lawyers who advise on cryptocurrency projects and crypto exchanges, as well as niche blockchain-related startups. The Neo Legal team includes co-founder and managing partner Kenny Lee and partner Harly Zappino.

Piper Alderman

Piper Alderman has a blockchain team that is passionate about the opportunities provided by distributed ledger technologies and is ideally placed to help clients navigate this complex landscape. With law and regulation struggling to keep up with technology, clients can rely on the team for issues related to blockchain and for its deep general industry knowledge. Piper Alderman can assist with fund structuring and fundraising, DAO and token structuring, licensing advice, taxation, privacy, anti-money laundering, corporate structuring and other regulatory advice. Its knowledge and experience have been gained in advising leading Australian and international blockchain projects since 2017. Piper Alderman lawyers regularly present on blockchain-related legal issues at conferences around Australia and overseas, and PA was the only law firm recognised as a finalist in Blockchain Australia’s Advisor of the Year Awards for 2019. It was the first major Australian law firm to accept bitcoin (and now other major cryptocurrencies) as payment for legal services. It has built strong relationships with trusted developers and other professionals with expertise in assisting clients in the blockchain space.

HG Lawyers

HG Lawyers has broken new ground across the emerging areas of cryptocurrency, initial coin offerings and blockchain. As one of the first Australian firms advising on fintech and digital commerce, it works with ICO and token issuers, cryptocurrency exchanges and blockchain companies. HG Lawyers offers a dedicated fintech digital assets team within the firm, and is presently advising on multiple ICOs relating to platforms across various industries and assisting virtual currency industry clients with ASIC, AUSTRAC, ATO compliance and privacy issues. HG has experience in: token generation and economics, initial coin offerings (ICO), token sale and purchase agreements, terms and conditions of digital offerings, disputes related to distributed ledger technology, cryptocurrency regulatory guidance, privacy and data security, engagement with regulators, advising on the creation of digital assets, the internet of things, smart contracts, supply chain logistics, digital databases, and digital payments systems and services.

Mills Oakley

Mills Oakley is a leading Australian law firm with offices in Melbourne, Sydney, Brisbane, Canberra and Perth. With over 100 partners and more than 670 staff, it offers strong expertise across all key commercial practice areas. With over 30 years’ experience providing Australian and cross-border digital law solutions for clients across a broad range of government and private sectors, MO has market-leading expertise (as recognised in Best Lawyers) in data privacy/cybersecurity, multi-jurisdictional privacy compliance, information (including Big Data analytics, AI, IoT), digital transformations, blockchain, smart contracts and cryptocurrency.

Hall & Wilcox

Hall & Wilcox is a practice specialising in blockchain, cryptocurrency, initial coin offerings (ICO) and security token offerings (STO). The digital landscape is changing quickly. By considering commercial, tax (including the GST treatment of digital currency) and regulatory issues, the Hall & Wilcox team looks at the big picture to advise on blockchain, cryptocurrency, ICO and STO opportunities.

Categories
Australia Coinjar Crypto Debit Cards

CoinJar Launches Australia’s First Cryptocurrency Mastercard

MEDIA RELEASE: Melbourne, August 3, 2021: CoinJar, Australia’s longest-running cryptocurrency exchange, is thrilled to announce the launch of CoinJar Card, a fully-featured Mastercard that lets customers spend their cryptocurrency like cash, wherever Mastercard is accepted.

Available as a physical and digital card, with both Apple Pay and Google Pay integration, CoinJar Card works with 30 different cryptocurrencies and boasts no ongoing fees and a low 1% conversion rate – returned to customers via an in-house rewards program.

CoinJar Card is the next step in our mission to make crypto both accessible and useful, to everyone, every day.

Asher Tan, CEO, CoinJar

Building on the industry-shaping success of CoinJar Swipe, the world-first crypto EFTPOS card that CoinJar customers have been using since 2015, CoinJar Card represents a threshold moment for the Australian cryptocurrency scene: the first AUD-native cryptocurrency card on the Mastercard network.

CoinJar has once again partnered with EML (ASX:EML) – who helped bring CoinJar Swipe to life – to provide customers with seamless and lightning-fast payments, no matter where in the world CoinJar Card is used.

“Thanks to Mastercard’s universal acceptance and EML’s technological expertise, CoinJar Card gives our customers true day-to-day crypto functionality – whether it’s through their smartphone, wearable or eye-catching physical card,” says Tan.

With more than half-a-million customers in Australia and the UK, CoinJar has already helped its users conduct billions of dollars’ worth of transactions in Bitcoin, Ethereum and other cryptocurrencies. CoinJar Card gives those users a simple, secure and seamless way to take their crypto into the real world, one purchase at a time.

CoinJar Payment via Apple Watch

Further Details About The Card

  • It will be a prepaid Mastercard that will work online and in-store, worldwide, wherever Mastercard is accepted.
  • It will be completely free to order with no monthly / annual charges – both in the physical and digital form.
  • There is a 1% fee to convert crypto to AUD at the time of the purchase.
  • CoinJar will provide 1% back in CoinJar Reward Points that can be redeemed here.
  • ATM withdrawals will be available with the physical card.
  • Apple and Google Pay will be available with both digital and physical cards.

About CoinJar

CoinJar is the simplest way to buy and sell cryptocurrency. Founded in 2013, and operating in both Australia and the UK, our mission is to create best-in-class apps and products that make it easy for customers to access and use cryptocurrencies such as Bitcoin, Ethereum and more.

Categories
Australia Charity Crypto News

10 Charities Accepting Bitcoin and Crypto Donations

Looking for a worthy charity to donate your crypto to? Here is a list of 10 charities that accept cryptocurrency donations in Australia and worldwide:

Blockchain Philanthropy Foundation

BPF is Australia’s first cryptocurrency donation platform to help charities connect with donors in the digital age. Their motto is “Build a Better World”, and charities can partner with the platform to start accepting cryptocurrency donations for their organisation. So far they have partnered with UNICEF and Wateraid.

Backpack Bed

Backpack Bed for Homeless is an Australian charity that provides backpack beds and sleeping bags for street-sleeping people without shelter. If you want to donate, you can do so with your cryptocurrency and make a difference for homeless people sleeping on the streets and receive a possible tax receipt benefit. Backpack Bed for Homeless accepts crypto donations in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Basic Attention Token (BAT) and more.

AGAPE Outreach

Agape Outreach is another Australian homeless charity, based on the NSW north coast. Theresa Mitchell (above right) started Agape Outreach Inc 12 years ago to feed the homeless from Byron Bay to Hervey Bay, and the charity solely relies on fundraising and rescued edible food normally put into landfill. After receiving a digital donation in Qoin to the equivalent of more than A$9,000, Agape Outreach has set up an op shop to accept crypto donations as well. 

Save The Children

Save the Children was one of the first global nonprofits to accept cryptocurrency. It has been accepting Bitcoin donations since 2013. Through its cryptocurrency fundraising initiative with The Giving Block and Gemini Trust Exchange (using Gemini Dollars), Save the Children accepts multiple cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and even Dogecoin (DOGE), among others.

Habitat

By donating cryptocurrency to Habitat for Humanity Australia, you will be helping families to build or improve a place they can call home. Access to safe housing provides more than a roof overhead. It means safety and security, offers children a space to study, is instrumental in improving the health and wellbeing of families, acts as a base to start a thriving home enterprise, and provides a solid foundation to break the cycle of poverty. Crypto donors can choose to remain anonymous.

Independent Reserve

Independent Reserve is donating crypto to the Sydney Children’s Hospitals Foundation (SCHF). It invites the crypto community to help in raising crypto for a very worthy cause. All crypto raised will be donated to SCHF. Visit the donatation page to get started with your

Wikileaks

WikiLeaks is a multinational media organisation and associated library founded by Australian publisher Julian Assange. It specialises in the analysis and publication of large datasets of censored or otherwise restricted official materials concerned with war, spying and corruption. It has so far published more than 10 million documents and associated analyses. WikiLeaks advocates for transparency through freedom of information. It accepts donations in cryptocurrency including Bitcoin, Ethereum, Litecoin, Monero and Zcash.

Free Snowden

Edward Snowden is a former computer intelligence consultant who was compelled to leak highly classified information from the National Security Agency (NSA) after he became highly concerned over mass data collection on everyday citizens by big tech companies such as Facebook and Google, and the government’s access and abuse of this private information. On September 2, 2020, a US federal court ruled that the mass surveillance program conducted by the US intelligence agency, which was exposed by Snowden, was illegal and possibly unconstitutional. The Free Snowden website accepts cryptocurrency donations to help fund the legal defence for whistleblower Snowden. Snowden’s official legal defence fund is raised and run by the Courage Foundation, which also organises and maintains a dedicated campaign team to publicise the issues he disclosed, and advocate across global media to build an international support network for Snowden. Snowden has been charged with breaking the Espionage Act and has yet to return to the US. He lives with his wife in exile in Russia, where he was granted asylum and is now a permanent resident.

Tokens for Humanity

Tokens for Humanity is the first blockchain-powered Australian registered charity to be recognised by the Charities and Not-For-Profits Commission. Its mission is to reinvigorate public trust in the charitable sector. TFH publishes insights and implements technologies to empower not-for-profit organisations to amplify their impact. It is the first Australian charity to issue NFT collectibles and collaborate with other charitable organisations to distribute raised funds. To help support the great work of Australian animal welfare organisations, Tokens for Humanity has proudly partnered with The Lost Dogs’ Home for the release of this animal NFT collection.

CryptoSpend is a team that saw an opportunity for the crypto community to make a difference internationally. With partners RFSA and Vinnies, the website enables all crypto enthusiasts and users to donate crypto to help the victims of Australian bushfires and firefighters. The most recent round of funding has now closed, but CryptoSpend may run another fundraiser in the future.

Conclusions

There are a number of reasons why you would choose to donate your crypto to charities including: simply out of the goodness of your heart, saving on capital gains tax, giving away excess crypto profits, either way thank you!

Categories
Cryptocurrencies Tokens

The 10 Most Popular Altcoins in Australia 2021

Approximately 3.3 million Australians own cryptocurrencies according to a recent report, with this number expected to double into 2022. The growth of blockchain technology has allowed for the development of new coins, each providing a unique utility or value. Let’s take a look at the most popular cryptocurrencies (also known as “altcoins”) for Australia this year. 

For a coin to make this list we have used our website crypto news data, which includes page views on crypto information pages, crypto news landing pages, website search data and news frequency data. We have excluded Bitcoin (BTC) from the list as it’s not considered an altcoin. 

Disclaimer: Before you continue reading, please note that these coins are listed as data only and should not be taken as a recommendation to buy and not investment advice. The data is provided for educational and informational purposes only. PLEASE NOTE: The most popular altcoins do not mean they are the best altcoins to buy. 

Most Popular Altcoins in Australia 2021 

1. Ripple (XRP) 

2. Cardano (ADA) 

3. Chainlink (LINK) 

4. Dogecoin (DOGE) 

5. Ethereum (ETH) 

6. Theta (THETA) 

7. Wink (WIN) 

8. Tron (TRX) 

8. Uniswap (UNI) 

9. Shiba Inu (SHIB) 

10. BitTorrent (BTT) 

Data Analysis 

Crypto Information Pages 

The 2021 website page views indicate that Ripple XRP is one of the most popular digital assets in Australia with 9% of the total relative crypto page views. XRP is the native token used on the XRP ledger used primarily as a method of payment on the ledger. This was closely followed by BTC and ETH and newcomer SHIB. THETA has the longest page view duration at 4 minutes 42 seconds. 

Crypto Info Page Views in Australia 2021 Table

Crypto Info Page Views in Australia 2021 Table 

Crypto News Landing Pages 

If we also take a look at the crypto news landing page views, we can see Ripple XRP leading the way by a fair margin with 33.03% of the total news landing page views. It’s followed (not closely) by ADA with 7.71%, LINK with 7.61%, then (surprisingly) by Wink WIN token at 7.21%. Other notables in this list are Bittorrent BTT, Dent DENT and Digibyte DGB. LINK has the longest page view duration by a mile at 3 minutes 46 seconds. 

Crypto News Landing Page Views in Australia 2021 Table 

Crypto Search Data 

Taking a look at the website searches for cryptos we can see XRP also leading this data with 5.87% of the total searches. Other notables are Wink WIN with 2.51%, ADA with 1.91%, and both Monetha MTH and RAMP with 1.76%. 

Crypto Search Volume Australia 2021 Table

Crypto Search Volume Australia 2021 Table 

News Frequency Data 

Searching for unique news articles and for the symbol and name, for symbols the variations ” ETH “, “ETH)” and “ETH.” were used to arrive at a total. It’s also worth mentioning that coins like “Ripple” and “Polygon” are regular words which may skew the frequencies. The same applies to coin symbols such as “UNI” and “LINK”. 

From the news mention data, we can see the clear altcoin winner is ETH, and then the pack follows with XRP, LTC and BCH. 

CryptocurrencyNews Mentions (Name)News Mentions (Symbol)
Bitcoin (BTC)39,18524,210
Ethereum (ETH)18,0459,680
Ripple (XRP)3,5083,813
Litecoin (LTC)2,9701,453
Bitcoin Cash (BCH)2,4472,215
Uniswap (UNI)2,317558
Chainlink (LINK)2,1933,204
Dogecoin (DOGE)2,1552,388
Cardano (ADA)2,0032,176
Polkadot (DOT)1,6951,652
Stellar (XLM)1,078659
Binance Coin (BNB)1,0531,366
TRON (TRX)725592
Bitcoin SV (BSV)570623
Solana (SOL)446179
THETA (THETA)218218
SHIBA INU (SHIB)29460
Chiliz (CHZ)13397
Altcoin News Frequency Volume Australia 2021 Table

Conclusions 

From the data we can draw the conclusion that Ripple XRP is the most popular digital currency in Australia. Obviously, this is based on a small subset of data and doesn’t include factors such as social media, buy and sell trading volumes, market capitalization, and the crypto market industry. The decentralized finance space is continuing to evolve and we will likely see more altcoins competing for the top spot as time goes on.  

If you’re looking to get started with crypto assets, then you can check out these guides to help: 

Categories
Market Analysis

$6 Billion Crypto Outflowed From Exchanges to Unknown Wallets in Past 24 Hours

Whales have been very lively over the past 24 hours, transferring over US$6 billion worth of cryptocurrencies from exchanges to unknown wallets during the early hours of July 30.

Whale transaction data over the past 24 hours

The whale transaction data shows 11 outflow transactions, all around 9,900 BTC (US$400 million), being sent from an exchange to unknown wallets. The BTC network fees were around only $4 for a transaction of $400 million.

For these simultaneous transactions the BTC does not appear to be heading to an exchange, where it could be sold on the open market. This could suggest the transfers are either individuals or institutions moving funds for security purposes or to facilitate a direct, over-the-counter sale.

Also, among those “smaller” transactions there was a giant whale of 22,000 BTC (US$866 million), which also outflowed to an unknown wallet.

Categories
Crypto Memes

Crypto Memes of the Week – July 30

Let’s have a laugh at this week’s topical memes.

Trading memes

When waking up this morning from cryptocurrencymemes

Crypto memes this week

Rich people trade XMR?

DOGE meme of the week

Tune in next Friday for more meme mayhem!