Author: Crypto News Australia

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

Categories
Australia Crypto Exchange Crypto News Swyftx

Australian Based Startup Swyftx Has Record Breaking Growth in 2020

Since launching in 2017, Australian based Crypto Exchange Swyftx has seen unprecedented growth due to their innovative approach to business and fantastic user support.

The Swyftx platform currently supports over 60,000 users and has introduced heavy infrastructure optimisations to support expected growth in 2021.

We have seen an incredible amount of new users to the Swyftx platform in 2020 and judging by the early indications, we expect 2021 to be even bigger.

Chris Vanek – Swyftx Chief Marketing Officer

Excellent User Support

We believe one of the main reasons Swyftx has been so successful, is that they provide excellent user support (Trustpilot).

During the busy period in January 2021 we saw over 2,500 support requests in a single day!

Chris Vanek – Swyftx Chief Marketing Officer

It is quite impressive how they can maintain high support standards even under pressure as they scale up with thousands of support requests per day.

Swyftx is Innovating How Australians Buy & Sell Cryptocurrencies

With over 230 coins and tokens currently supported on the Swyftx platform (and more being added frequently), there is certainly no lack of buying options.

They are also constantly introducing new features for their platform to enhance the user experience. For example: Instant Deposits and Withdrawals, Crypto Bundles, Telegram Support Group, Low Market Volume Warnings, Dashboard Customisation and User Interface improvements.

Swyftx also have security very high on their list, and encourage all users to use cold wallets to store their crypto.

Be sure to check out our Review of Swyftx Exchange for more information and how to get started with them.

Categories
New Brighton Capital Superannuation

New Brighton Capital Partners with Swyftx to Provide 200+ Cryptos For SMSF’s

New Brighton Capital recently announced a Partnership with Australian cryptocurrency exchange Swyftx to provide access to Bitcoin and over 200 cryptocurrencies for Self Managed Super Funds.

Crypto currencies and blockchain assets represent a quantum leap in political and economic freedom for the world. By extension, this space offers the greatest investment opportunities of our generation.

Michael White – Founder/CEO New Brighton Capital

New Brighton Capital CEO, investor and long time crypto fanatic Mike White, explains how crypto enthusiasts can now hold bitcoin and other cryptocurrencies in their superannuation.

Need help? Speak with Cryptocurrency Superannuation Expert at New Brighton Capital Book a Free 20 min Consultation

New SMSF $250 Free Credit

For those without an SMSF, Swyftx is offering $250 FREE account credit to clients who set up a new self-managed super fund with New Brighton Capital and use coupon code “SWYFTX” on the application.

About New Brighton Capital

New Brighton Capital logo

New Brighton Capital is an Australian based company providing professional services to own Cryptocurrencies in your SMSF. You can own Bitcoin and other assets in your own superannuation through approved providers – Australian Banks and Australian Crypto Exchanges. NBC & Partners handle all the compliance, tax returns, audits etc so you can concentrate on managing your investments and building your portfolio.

About Swyftx

Swyftx is an AUSTRAC registered Australian crypto currency exchange & trading platform. Buy, Sell & Trade over 100 Crypto-Assets on Australia’s most progressive Cryptocurrency Exchange.

How to get Started?

There are a few considerations before deciding to buy Cryptos in your Superannuation. There are also some useful FAQ’s you can read which may help.

For more information relating to SMSFs contact NBC on 1300 264 022 or email [email protected].

Categories
Binance Crypto News Institutions Superannuation

Binance Australia Sees Corporate Users Grow by 400% Since Last Quarter

Binance Australia has seen their SMSF and corporate user base grow by over 400% compared to the previous quarter, end of 2020. This news was reported directly from Binance Australia to Crypto News.

With the previous significant rally in 2017, the public perception of crypto was very different to what we’re seeing more recently. There has been far bigger growth this time around, but not with quite the same level of noise in the mainstream that we experienced in 2017 suggesting much of the investment in the last few months has been institutional.

Binance Australia’s CEO, Jeff Yew

Users can register a Corporate account on Binance Australia (also known as an “Enterprise Account”) through a new account or by turning their existing personal account into an enterprise account.

Presently, setting up a corporate account can be a lengthy process, however, that seems to be the case with all legitimate crypto exchanges operating worldwide and in Australia. They are subject to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) rules as well as required to be compliant with all applicable laws, like any other registered financial institution and digital currency exchange in Australia.

2021 is Looking Promising for Binance Australia

This news also follows other recent uptakes with Binance AUD Trading Volume Over A$130 Million In a Single Day. Users can now do PayID/Osko Australian Dollar (AUD) deposits with zero fees directly from their Australian bank accounts.

Jeff Yew (Binance Australia’s CEO) also mentioned that they are seeing cryptos as an asset class and technology that is better understood, and far better appreciated in 2021, with the recent sustained bull run is supporting this. As the retail demand for crypto assets continues to grow, he believes they will continue to see this increase in institutional adoption of Bitcoin, likely to lead to a supply squeeze of the asset.

Categories
Binance Bitcoin Crypto Exchange Trading

Binance AUD Trading Volume Over A$130 Million In a Single Day

On January 11th, Binance saw 130M AUD (~100M USD) traded in just the past 24hr (across all AUD pairs). And 71M AUD (~55M USD) for the BTC/AUD trading pair.

Source: CryptoCompare

Binance Leading The Way In Australia

While we can attribute the massive uptake in crypto trading volume to growing positive sentiment and an increase in institutional investment, we can see Binance has leapfrogged other platforms as far as volume traded.

In our opinion, the user experience offered by Binance Australia platform is one of the smoothest available on the exchange market landscape. That is paired with low fees and PayID/OSKO capabilities, facilitating common operations of Australian crypto traders.

Binance Australia allows users depositing and withdrawing AUD directly from their bank account, making it easier than ever before to get involved in crypto.

Lastly, Binance Australia has played a major role in the development of the crypto community in Australia through meetups and events. It does not come as no surprise that Aussies seem to trust Binance Australia as a locally-based exchange registered with AUSTRAC.

Binance Australia in 2021

Launching in 2020, Binance Australia has achieved this phenomenal growth over the course of just 6 months by providing a platform focused on being comprehensive, minimising fees and offering the highest liquidity available on the market.

While we’re very pleased with this milestone, at Binance Australia we have our eyes set on the future and how we can continue to facilitate the investment into and adoption of cryptocurrencies in Australia.

Binance Australia’s CEO, Jeff Yew

Binance Australia’s CEO Jeff Yew also added that rapid growth of the market has seen significant support from institutional investment in 2020 and 2021. He looks forward to welcoming more Australian residents, businesses and SMSFs as they begin (or continue) their crypto journey with Binance Australia in the coming months and beyond.

See this article on how to get started with Binance Australia.

Categories
Stablecoins Tether

USDC Supply Reaches $5 Billion as Tether Dominance Drops below 80%

A recent stats report by Coin Metrics, shows USD Coin (USDC) supply reaching US $5 Billion, rising from just 500 Million since last year.

Source: Coinmetrics.io

About USD Coin

USD Coin (known by its ticker USDC) is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions.

In 2020, Circle and Coinbase collectively announced a major upgrade to USDC’s protocol and smart contract. The goal of these enhancements is to make it easier for USD Coin to be used for everyday payments, commerce and peer-to-peer transactions.

Tether Dominance Drops below 80%

As a result on USDC growth, Tether’s share of total stablecoin supply is decreasing. Although Tether is still by far the most dominant stablecoin, it’s down to only about 75% of the total market. This is its lowest share of total supply since January 2019.

Source: Coinmetrics.io

USDC Coin Price Flatlines

Also we noticed that the USDC coin price has stabilised around the US $1 mark (which is the price it represents). This may lead to it being used instead of USDT by traders as they come in and out of BTC and other coins.

Source: Coinmarketcap.com

You can find more news about Stablecoins here.

Categories
Betting Gambling

Winz.io Launches Rewarding Bitcoin Mining Adventure with 1 BTC Grand Prize

With bitcoin mooning and surpassing all of its previously-set records, people worldwide are rushing to obtain profits. Miners are also keen on solving the proof-of-work problem in exchange for a chance to add the next block and reap their bitcoin reward. What if there was a better way to profit off bitcoin’s recent bull run?

Introducing Gamified Mining with Winz.io

Mining is complicated, but with Winz.io, it has never been easier! The casino has just announced the Winz.io Bitcoin Mining Adventure, where players can enjoy their favourite slots, level up, and obtain cash prizes for each of the levels they beat. That’s it. There are absolutely no restrictions concerning wagering limits, minimum bets, or maximum prizes. In fact, the first person to complete the 40 levels will not only obtain a prize for each level, but also the grand reward – one entire bitcoin! Each wager unlocks profit potential and puts users higher on the leveling leaderboard, so there’s nothing to lose. Profits are still paid out depending on the outcome of the slot roll.

The levels are open to all of Winz.io players, meaning that users can play up to wherever they feel most comfortable with their winnings.

Highlighting Winz’s Value Proposition as the World’s Top-Ranking Crypto Casino

Founded and licensed in early 2020, Winz.io has quickly established its title as one of the market’s best digital currency casinos, boasting not only great games, but also a plethora of payment methods and a tight-knit community.

With this being said, Winz.io collection of games includes highly-entertaining slot titles, such as jackpot slots, megaways slots, and buy bonus slots. Players can also find a formidable collection of table games and profitable lotteries. As expected, the casino features live games. Here, customers can interact with professional and engaging dealers, thereby accessing a superior experience that’s filled with authenticity and emotion. The Winz.io game catalogue is only provided by the industry’s finest developers. Winz.io therefore collaborates with the likes of Evolution Gaming, Amatic, iSoftBet, NETENT, Microgaming, and many others.

Winz.io is renowned for having one of the industry’s most future-thinking payment policies. As such, customers can deposit and withdraw their funds via cryptocurrencies, as well as fiat-based payment methods. Some of the main means of payment include debit cards, bank transfers, and support for e-money payment services. Thanks to a partnership with CoinsPaid, cryptocurrency enthusiasts can gamble using Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dogecoin, and Tether. Most deposits are confirmed within a few minutes, whereas withdrawals are processed instantly. Thus, users will no longer have to spend days waiting to cash in their winnings. This is especially the case with crypto-based withdrawals, which are lightning quick! Readers must also note that Winz facilitates crypto-to-fiat exchange: possibility for the instant exchange to FIAT on deposit and back to crypto on cashout.

Winz.io is thoroughly appreciated within the gambling reviews market. It’s been rated as ‘great’ by some of the most popular casino review websites, including Askgamblers.

Winz.io Optimal RTP policy

Return to Player (RTP) is a casino term describing percentage of any wagered money that slot machine games pays back to players over time

Most online casino operators have similar selection of slots, however, not all slot games are offered in the same way. This is due to many casino operators offering adjusted versions of popular games, often reducing Return to Player, sometimes up to five percentage points. We at Winz.io always keep original casino games settings ensuring more entertainment for the same money. Players can always check the game’s RTP tapping information icon of every slots game’s thumb.

Winz.io follows Optimal RTP Policy and chooses original slot games settings of return percentage in every situation.

Bottom Line

Thanks to Winz.io’slucrative bitcoin mining promotion, those who missed the bull run can certainly round up their profits. No other casino has ever put prizes as large as 1 BTC on the table, so it only makes sense that there’ll be a lot of competitive, but very entertaining gameplay! Winz.io – Every Bit of Fun!

Categories
Bitcoin Coinjar Ethereum Litecoin

Sending Bitcoin (BTC) – Transaction Fees Over 15% Higher Compared to Litecoin (LTC)

Apart from its volatility, one other known problem when using cryptocurrency for payments is that the blockchain network fees can vary largely from day to day.

To help diagnose the fees we transferred $100 AUD to BTC, LTC, ETH and USDC and sent them to an external wallet to see the fees charged by the exchange platform and the blockchain network fees. Note: all fees shown as at 31/12/2020 and sent using CoinJar to an external wallet on chain.

AUD to BTC to External BTC Address

  1. $100 AUD (CoinJar cash account)
  2. Converted to 0.00262679 BTC (A$98.96). 1% conversion fee.
  3. Sent to an external BTC address
  4. Received 0.00220921 BTC (A$82.90)
  5. Network fee: 0.00041758 BTC (A$15.67)
  6. Total fees: A$17.10 (17.1%)

AUD to LTC to to External LTC Address

  1. $100 AUD (CoinJar cash account)
  2. Converted to 0.6 LTC ($98.96). 1% conversion fee.
  3. Sent to an external LTC address
  4. Received 0.6 LTC (A$98.96)
  5. Network fee 0.00000373 LTC (A$0.00062)
  6. Total fees: A$1.04 (1.04%)

AUD to ETH to to External ETH Address

  1. $100 AUD (CoinJar cash account)
  2. Converted to 0.1 ETH (A$98.96). 1% conversion fee.
  3. Sent to an external ETH address.
  4. Received 0.09131 ETH (A$89.53).
  5. Network fee: 0.00869 ETH (A$9.43)
  6. Total fees: A$10.47 (10.47%)

AUD to USDC to External USDC Address

  1. $100 AUD (CoinJar cash account)
  2. Converted to 75.63 USDC (A$98.96). 1% conversion fee.
  3. Sent to an external USDC address.
  4. Received 70 USDC (A$92.00)
  5. Network fee: 4.928023 USDC (A$6.42)
  6. Total fees: A$8.00 (8%)

Conclusion

Here is a comparison of network fees for each crypto we tested (when sending approximately A$100 worth).

CoinApproximate Network Fee
BTC15.83%
LTC0.0001%
ETH9.53%
USDC6.49%
Comparison of network fees for cryptocurrencies

Litecoin (LTC) has by far the cheapest fees (almost non-existent) compared to BTC, ETH and USDC. As we know, the BTC network fee doesn’t vary based on the amount, but rather on the network conditions at the time of transfer. Therefore, sending larger amounts would make the fees more easily acceptable.

Categories
Crypto Wallets

Exodus Crypto Wallet Now Works Directly With Your Trezor Offline Wallet

Exodus and Trezor worked in partnership to advance the hardware wallet experience.

Exodus helps individuals control their wealth independent of old banking models and free from institutional control. Now, Exodus & Trezor make advanced security easy – allowing anyone to safely manage digital assets.

Benefits Of Exodus User Experience with Trezor Security

  • Exchange assets between Trezor and Exodus
  • Assets stay securely offline on Trezor hardware
  • Plug and play with all existing Trezors
  • Manage multiple Trezor devices simultaneously
  • 90+ Trezor Supported Cryptocurrency Assets

Watch the video

How to set up

Read the support article with detailed instructions.

Exodus User Interface

Categories
Cryptocurrencies Market Analysis

Crypto Returns Now vs COVID March 2020

A recent stats report by Coin Metrics has some pretty interesting charts showing COVID March 2020 coin returns vs now (December 2020).

On March 12th, the world abruptly changed. Amidst growing concerns over the COVID-19 pandemic bitcoin suffered one of its largest one-day price drops in history. The rest of crypto followed, with most major assets down over 30% on the week.

Source Coinmetrics.com

By Q4 the flood gates began to open. After a tumultuous beginning of the year, institutional investors had finally arrived. 

On October 8th, Square announced a $50M investment into bitcoin, stating “we believe that bitcoin has the potential to be a more ubiquitous currency in the future.” Square joined MicroStrategy and others in allocating part of their corporate treasury to bitcoin. On October 21st, PayPal made an official announcement that it was introducing “a way for customers to buy, hold, and sell certain cryptocurrencies within the PayPal wallet.”

Source Coinmetrics.com

Soon after, Bitcoin’s price began to rise. It would keep on rising for most of Q4. As institutions continued to join, the narratives around bitcoin started to shift. In a quickly changing world, bitcoin is increasingly being endorsed as a hedge against inflation and form of digital gold. 

Categories
Press Release

Instant Profits and Three-digit APR with INFI

The Most Anticipated DeFi Project at the end of 2020: Decentralized Digital Bank InfinityDefi(INFI)!

Recently, users are rushing to borrow money from a new lower-risk product. InfinityDefi (INFI) is ready to launch with the Polymerization Pool as a new supernova and nuclear warhead of DeFi collateralized lending.Is it cool? Why?

Finance has always been the use case closest to people’s lives. InfinityDefi (INFI) brings financial deposit and lending services to thousands of cryptocurrency holders.It is a DApp on Ethereum providing interest and collateralized lending services for cryptocurrency assets in exchanges and wallets. InfinityDefi(INFI) aims to make the basic financial services available to everyone. Deposit and take whenever you like.

To put it simple, InfinityDefi (INFI) is a decentralized digital bank. Its collateralized lending services are similar to those of Compound. What is different, it is the only platform in the world to offer multiple value added loans for one collateral. It also offers higher loan amounts across competitor platforms in the market.

Users with idle cryptocurrency can deposit it to the Polymerization Pool managed by InfinityDefi (INFI) to earn interest. Users can deposit, lend, and borrow cryptocurrency at some of the best interest rates.To promote the user participation, at the initial stage, InfinityDefi (INFI)will also give up a part of its profits for users. The APR on deposits is double and even triple digits.

The project will distribute the governance token INFI through airdrops and in other incentive programs. On December 10 (0:00 UTC+0), the InfinityDefi (INFI) Early Access Round 1 starts. You can transfer 0.01 ETH to get 2 INFI and the first 1,000 participants will share abundant prizes: http://sunshine.infinitydefi.finance

Project Schedule

Currently, InfinityDefi (INFI) supports depositing, pledging, and lending of DAI, USDT, USDC, and ETH. Besides the traditional deposits and loans available in digital banks, InfinityDefi (INFI) promotes innovative models such as cross-platform secondary loans and multi-value-added loans. These models provide cryptocurrency investors with a better arbitrage space and higher capital utilization.

So what are the cross-platform secondary loans? The traditional collateralized lending mode is “pledge once and get one collateral,” while with InfinityDefi (INFI) you can have secondary collateral.You can borrow twice with your collateral, but the amount of the second loan is 10% of the first one.It also supports cross-platform borrowing on Maker DAO!

InfinityDefi (INFI) has about 10% lower collateral ratio and more favorable position coverage and liquidation levels compared to traditional DeFi collateralized lending products. Its initial deposit and loan interest rates make it user-friendly and highly competitive.With lower collateral ratio, lower loan interests, and higher capital turnover efficiency, it can better protect the rights and interests of users.

The Top Investment Team

InfinityDefi (INFI) is DeFi’s next success after Compound and Maker DAO and is highly anticipated in 2021. Their team are senior professionals from the financial and cryptocurrency industry in the Americas and Asia. InfinityDefi (INFI) builds community management based on the governance token INFI and the equity token PPT. Holders of INFI can participate in project management, control the financial risks, and vote in the decision-making process, while PPT is award token earned through transactions on the platform. Users can exchange PPT to INFI.

At the end of December, InfinityDefi (INFI) will sweep the world. The mainstream cryptocurrency exchanges will list the governance token INFI and the project’s journey of transforming the global finance will start.On the 10th, the Early Access Round 1 and the first INFI airdrop start in the community. Leveraging blockchain and aiming to serve the basic financial needs of all people on the earth, InfinityDefi (INFI) strives for common prosperity.

INFI is inclusion!
INFI, the basic financial services for everyone!
INFI, the community autonomy that changes sovereign capital!
INFI, Decentralized Digital Banking!
INFI, the social financial experiment against centralized dictatorship!
INFI + finance, your freedom!

InfinityDefi White Listing has Started:
www.infinitydefi.io
twitter.com/InfiDefi

Join the INFI Community:
https://t.me/infigroup