Category: Coinjar

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Australia Coinjar Crypto Art Crypto News Melbourne NFTs

Melbourne Street Artist Lushsux Has Made Over $500,000 From NFTs

Lushsux has become one of the most popular street artists in Melbourne, reaching international recognition for his large mural paintings depicting internet meme culture. He has now become one of the highest-paid artists in Australia, selling his NFTs for over $500,000 AUD.

Over the weekend, Lushsux has sold over $130k worth of NFTs with some pieces that originally sold for $333 are today reselling for over $20k.

Some of his most popular (and controversial) paintings represent the latest trends in the meme culture. His artwork ranges from politicians like Donald Trump in the form of ice cream, or popular icons in the crypto scene, including Doge, Elon Musk with a “genetically engineered catgirl” and the CEO of Binance Changpeng Zhao with laser eyes.

“Funds are Safu,” a limited edition at Makersplace

In an interview with Coinjar, Lushsux admitted he was not deep into the cryptocurrency space at first, but he saw a great opportunity in it and, especially, in the NFT industry.

The idea of selling JPEGs and other digital content for thousands of dollars seemed like a “cool idea” to him, and he’s now selling his work in markets like Rarible and Nifty Gateway.

I sold a piece called ‘The 8’ for 88.8 ETH, or like $250,000. I’m literally one of Australia’s highest paid living artists. Top 20 at least. And some guy is trying to sell one of my Elon Musk portraits for $1.4 million. You could buy a Whiteley for that price. Or, like, a 2-bedroom house in Melbourne.

Lushsux

NFTs are still in season

NFTs are Digital creations that provide certain benefits for their creators, like copyrights, transparency, and better revenue. Some of these artworks are being sold for hundreds of thousands —and even millions. Read more about it in our guide to NFTs.

The NFT craze reached the mainstream due to these millionaire purchases, calling the attention of artists, musicians, and other celebrities who now see it as an opportunity to promote their work. Even former NSA consultant Edward Snowden auctioned an NFT for US$5.4 million.

Lushsux said NFTs are an “excuse to spend more time building things in the digital world,” although he doesn’t believe the market will be sustainable in a few months.

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Bitcoin Coinjar How-to

How to Buy Bitcoin with a Mobile Phone

How to Buy Bitcoin with a Mobile Phone
How to Buy Bitcoin with a Mobile Phone

A smartphone is enough to purchase Bitcoin. You don’t need to have a laptop or a desktop PC to get the job done. This step-by-step guide will show you how to buy Bitcoin from your mobile phone, with a focus on the popular Australian platform CoinJar.

If you are approaching Bitcoin for the first time and you are not sure about how it all works, you might want to read about what Bitcoin is and an introduction to buying Bitcoin before going ahead.

1. Accessing your account

In order to buy Bitcoin (BTC), first of all you need to have a CoinJar account. Read our comprehensive guide on how to setup a Bitcoin account with CoinJar for instructions on how to set up a new account.

CoinJar Australia homepage
CoinJar Australia homepage
CoinJar Australia app download
CoinJar Australia app download

CoinJar homepage encourages to proceed installing their app on smartphone, however it is also possible to proceed to a more traditional login page. Their app is available on the Google Play Store for Android devices, as well as on the Apple App Store for those using an iPhone.

2. Depositing funds

From within the CoinJar mobile app, the next step is to have funds available in the CoinJar wallet. If you don’t have any funds available (or not enough for your desired BTC amount), click Deposit from the app main screen (dashboard). You can use different methods for that, for example BPAY (like a utility bill) or PayID from your Australian bank account.

Note: some banks might block transfers related to cryptocurrency purchases.

CoinJar Australia app dashboard
CoinJar Australia app dashboard
CoinJar Australia app Deposit Method
CoinJar Australia app Deposit Method

3. Buying Bitcoin

The last step is to actually purchase Bitcoin using funds in your “Cash Account”. For this, click on “Everyday Bitcoin” from the mobile app dashboard. This also shows previous transactions. Then click on “Buy”.

Alternatively, click on “Convert” from the CoinJar app dashboard. When prompted for “Convert from”, select “Cash Account”; then for “Convert to” select “Everyday Bitcoin”. Enter the desired amount and hit “Next” to proceed.

CoinJar Australia app Everyday Bitcoin
CoinJar Australia app Everyday Bitcoin
CoinJar Australia app AUD to BTC

Bitcoin Mobile Apps

Many platforms in Australia provide apps to buy Bitcoin using your phone, here is a selection of some of the best ones.

Coinjar

CoinJar is one of Australia’s longest running cryptocurrency platforms, offering exchange and hosted wallet services. Both the CoinJar website and iOS and Android mobile apps have excellent design and are easy to use, especially for beginners.

Feel free to read our review of CoinJar for more details.

Swyftx

Swyftx is a Brisbane-based and AUSTRAC-registered Australian crypto currency exchange and trading platform. They have a website optimised for mobile usage, as well as apps available for download on both Android and iOS. Swyftx offers outstanding customer support coupled with low fees, making it appealing for buying cryptos.

Check out our review of Swyftx for more information.

Binance

Binance offers one of the largest cryptocurrency exchanges in the world in terms of trading volume. They offer apps for Android and iOS, supporting AUD deposits and withdrawals for personal accounts which are instant and have no fees through PayID/Osko. Thanks to very low fees and advanced features, they are a great choice for trading cryptos.

Read more about Binance in our review of Binance for more details.

Buy Bitcoin with Mobile Recharge

Some providers provide a way to buy Bitcoin with direct peer-to-peer exchange through LocalBitcoins. This may be useful for those countries who buy Bitcoin using their phone bill recharge, we have found the fees to be quite high for these services. If you’re interested, firstly you’ll need a digital wallet to store your Bitcoins. Feel free to read our article featuring some of the best Bitcoin mobile wallets.

Conclusions

As shown in this guide, buying Bitcoin from a mobile phone is pretty straightforward. Exchanges like CoinJar offer a great user experience on the phone with highly rated beginner friendly reviews.

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Australia Coinjar Crypto News

Aussie Exchange, CoinJar Debuts Recurring Buys for Dollar Cost Averaging

Aussie Exchange, CoinJar Debuts Recurring Buys for Dollar Cost Averaging

Investing in cryptocurrencies has become easier and more convenient than it was over the past years. One of the leading Australian exchanges, CoinJar, has launched a “recurring buy” function on its platform, which will allow Australian crypto investors to purchase their favorite digital currencies through the “dollar cost averaging” or DCA approach. This is an ideal investment strategy for buying cryptocurrencies, especially when the market is ranging or trending in a bearish condition.

CoinJar now Supports DCA Strategy

The recurring buy is a DCA investment approach that allows investors to purchase a particular amount of a cryptocurrency more than once within an extended period of time. The dollar-cost averaging strategy is currently supported on CoinJar Bundles Recurring Buys, according to the announcement on Monday. Users can choose to set up recurring buys on a weekly, fortnightly, or monthly basis through the CoinJar iOS or Android app.

The service is currently available for the exchange’s Australian users only. CoinJar noted that the service would be rolled out for the customers in the United Kingdom (UK) soon.

DCA explained

Dollar-cost averaging is a popular strategy used by many players in the cryptocurrency market. Using this strategy, an investor would divide the total amount of money he/she wants to invest in either Bitcoin (BTC), Ether (ETH), or other cryptocurrencies. Rather than once, the divided funds will be periodically invested in the chosen cryptocurrency to reduce the impact of the asset volatility on entire purchases made.

Basically, this strategy helps investors to avoid buying cryptocurrencies at the top. However, this investment strategy may not be ideal when the market enters an uptrend. The price of the cryptocurrency will continue to go higher during uptrends; hence, using DCA will only fetch you the cryptos at a higher rate – except you decide to wait until the market calms.

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.

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Coinjar Crypto News

CoinJar – Monthly News Recap November 2020

This is our monthly Partners news recap for CoinJar to keep you updated on what’s been happening with them this month and what they have upcoming.

YFI and UNI are now available for trading on CoinJar!

YFI and UNI are now available for trading on CoinJar!

We’re excited to welcome the following ERC-20 tokens YFI and UNI to the CoinJar lineup!

These tokens will  be automatically added to new purchases of the CoinJar DeFi Bundle, the CoinJar ERC-20 Bundle, and CoinJar Universe Bundle. Existing owners of these bundles will not be impacted, and will need to unbundle and re-purchase the desired bundle.

Changes to CoinJar Exchange fees from 1st of December 2020

Changes to CoinJar Exchange fees from 1st of December 2020

All users will benefit from our new reduced Taker fees, while Maker fees will be increased for users with 30-day volume tiers above AUD $10,000. Read more.

  • Taker fees will be lowered to 0.20% for volume Tier 1, 0.15% for volume Tier 2, 0.12% for volume Tier 3, 0.10% for volume Tier 4, 0.08% for volume Tier 5 and 0.00% for Crypto Trading Pairs* across all volumes.
  • Maker fees will be increased to 0.12% for volume Tier 2, 0.10% for volume Tier 3, 0.08% for volume Tier 4, 0.05% for volume Tier 5 and 0.05% for Crypto Trading Pairs* across all volumes.
  • No change to existing Maker volume tiers below $10,000.

Stay up to date with CoinJar

Established in 2013, CoinJar is the easiest way to buy, sell, store and spend cryptocurrencies in the UK and Australia. CoinJar’s iOS and Android apps allow users to trade cryptocurrencies on the go, while CoinJar Exchange and CoinJar OTC Trading Desk cater for professional traders, as well as individuals and institutions looking to make larger transactions.

Website: https://www.coinjar.com/au/
Twitter: https://twitter.com/getcoinjar
Facebook: https://www.facebook.com/CoinJar/
LinkedIn: https://www.linkedin.com/company/coinjar/

Categories
Australia Coinjar Crypto News

Yearn.Finance and Uniswap Token Now Available on Aussie exchange CoinJar

Binance Australia to List Polkadot, Cardano, and PancakeSwap

One of the leading Australian cryptocurrency exchanges, CoinJar, announced Friday it has added support for two popularly-traded decentralized finance (DeFi) tokens – Yearn.finance (YFI) and Uniswap (UNI). Going forward, the users will be able to purchase and trade these tokens in addition to other digital currencies already supported on the trading platform.

Such a development tends to bring the Australian crypto market closer to DeFi, which presently is sailing at a total assets value of US$12.7 billion.

According to the exchange, the new DeFi tokens will be automatically included in new purchases for its CoinJar ERC-20 Bundle, CoinJar DeFi Bundle, and CoinJar Universe Bundle. The inclusion of the tokens won’t affect the exchange’s bundle users. However, CoinJar noted in the announcement that they would need to unbundle and re-purchase the desired bundle to access the DeFi tokens.

Yearn.finance and Uniswap Explained

Both YFI and UNI are the governance tokens for Yearn.finance and Uniswap protocols, built on the Ethereum blockchain as ERC-20 standard tokens. Yearn.finance is among the top-ranking decentralized finance protocols developed by Andre Cronje. The protocol provides lending aggregation and yield generation while using other DeFi services, including Uniswap, Aave, and others. 

The YFI token is trading at the price of US$23,100 on CoinGecko, a cryptocurrency price tracking platform. 

Uniswap is the leading decentralized exchange (DEX), with about US$1.24 billion in assets locked. It allows the exchange of Ether (ETH) and other ERC-20 tokens on Ethereum in a decentralized manner. Unlike regular cryptocurrency exchanges, Uniswap uses Constant Function Market Makers other than order book. The governance token (UNI) was launched on September 17 and made a big run shortly after it was introduced. 

The UNI token is presently trading at US$3.21, with about -3 percent change in the 24 hours count.

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Coinjar Crypto Exchange Crypto News

CoinJar – Monthly News Recap October 2020

This is our monthly Partners news recap for CoinJar to keep you updated on what’s been happening with them this month and what they have upcoming.

All-new Trading Pairs on CoinJar Exchange

We have added four new ERC-20 tokens to our lineup and are now excited to announce the addition of the following new trading pairs to CoinJar Exchange.

  • XLM/AUD, LINK/AUD, MKR/AUD, OMG/AUD, COMP/AUD
  • XLM/BTC, LINK/BTC, MKR/BTC, OMG/BTC, COMP/BTC
  • XLM/GBP, LINK/GBP, MKR/GBP, OMG/GBP, COMP/GBP
  • XLM/USDC, LINK/USDC, MKR/USDC, OMG/USDC, COMP/USDC

Introducing DeFi & ERC-20 CoinJar Bundles

Following the announcement of four new ERC-20 tokens to the CoinJar lineup, we have also created new CoinJar Bundles to help you diversify your ERC-20 portfolio.

From today, the following bundles are available for purchase through the CoinJar app:

  • ERC-20 Bundle which includes BAT, ZRX, USDC, DAI, COMP, LINK, MKR, OMG
  • DeFi Bundle which includes COMP, LINK and MKR

CoinJar is improving liquidity to bring you better prices

Now with 289 trading pairs available on CoinJar and 49 on CoinJar Exchange, and with new cryptocurrencies recently being listed including LINK, COMP, MKR, OMG and XLM, it’s more important than ever to provide deep liquidity and better buy/sell prices.

In September 2020, CoinJar launched a first-generation implied matching system for incoming orders with the goal to bring you better digital currency prices and improved liquidity.  

Data based on approximately 2 weeks before and after the launch of implied matching showed that CoinJar’s buy-sell spread between Basic Attention Token and AUD improved by 75% (from 2.16% to 0.53% on average). Improvements were also seen in other pairings such as the buy-sell spread between Bitcoin and AUD has improved by 13% (from 0.22% to 0.19%). Read more

Special offer for CoinTracker, CryptoTaxCalculator & Koinly

CryptoTaxCalculator is made in Australia and offers an annual plan which covers all previous financial years from 2013-2020. So if you need to amend your tax return for previous tax years the plan has you covered all under the one pricing. They offer a 30 day money back guarantee and you can cancel your subscription anytime.

CoinJar has partnered with CryptoTaxCalculator to provide you with following discounts:

40% off one time discount of any package (expires 30/11/20)
Coupon Code: COINJAR_SPRING_TAX
20% off one time discount of any package
Coupon Code: COINJAR_BUDDY

Just sign up and enter your code at https://cryptotaxcalculator.io/au

Read more about this offer here.

Stay up to date with CoinJar

Established in 2013, CoinJar is the easiest way to buy, sell, store and spend cryptocurrencies in the UK and Australia. CoinJar’s iOS and Android apps allow users to trade cryptocurrencies on the go, while CoinJar Exchange and CoinJar OTC Trading Desk cater for professional traders, as well as individuals and institutions looking to make larger transactions.

Website: https://www.coinjar.com/au/
Twitter: https://twitter.com/getcoinjar
Facebook: https://www.facebook.com/CoinJar/
LinkedIn: https://www.linkedin.com/company/coinjar/

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Coinjar Crypto News

CoinJar – Monthly Partners Update September 2020

This is our monthly partners update for CoinJar to keep you updated on what’s been happening with them this month and what they have upcoming.

Stellar Lumens (XLM) listing

XLM is now available to buy and sell through the CoinJar platform, joining our already stellar line up of digital currencies that members can send, receive and store using CoinJar.

CoinJar now supports instant bank withdrawals

Australian dollar withdrawals from CoinJar will now arrive within minutes thanks to the New Payments Platform (NPP) using NPP / PayID / OSKO.

New CoinJar Bundles

CoinJar Bundles are collections of popular digital currencies you can purchase as a group, making them a great way to diversify your portfolio. Your bundles are tracked automatically over time, providing insight into the performance of your investments.

Enhanced implied matching algorithm

This is exciting! We’re working on improving our matching algorithm to deliver you an even better price on your buying and selling of cryptocurrencies with our platforms. Stay tuned for more updates.

CoinJar nominated as finalist at The Finnes awards

Giveaway winners

Congrats to our giveaway winner and stay tuned for more giveaways by following our Twitter.

Stay up to date with CoinJar

Established in 2013, CoinJar is the easiest way to buy, sell, store and spend cryptocurrencies in the UK and Australia. CoinJar’s iOS and Android apps allow users to trade cryptocurrencies on the go, while CoinJar Exchange and CoinJar OTC Trading Desk cater for professional traders, as well as individuals and institutions looking to make larger transactions.

Website: https://www.coinjar.com/au/
Twitter: https://twitter.com/getcoinjar
Facebook: https://www.facebook.com/CoinJar/
LinkedIn: https://www.linkedin.com/company/coinjar/

Categories
Australia Coinjar Markets

Demand for Australian Crypto Partners On The Rise As New Alliances Are Formed

Chainalysis, a company that provides data and information regarding blockchain users to governments and a number of successful companies worldwide has just signed contracts with three booming Australian fintech companies — namely Assembly Payments, CoinSpot, and CoinJar.

While CoinJar and CoinSpot will become official exchange partners of  Chainalysis, Assembly Payments and Chainalysis will use their new business relationship to create a cryptocurrency-focused database based on trust, professionalism, and entrepreneurship.

Assembly Payments already provide information on cryptocurrency investors across multiple continents that may be subject to a variety of different laws and investment practices, Chainalysis will fill in the unknown factor of the equation by providing valuable insights regarding the risk assessment of clients, the benefits of offshore expansion and much more.

This partnership will also allow cryptocurrency investors to gain valuable insights into the legal implications of crypto-based business networks worldwide and how to comply with the law of the land in each country that they wish to expand their activity.

A Correct Assessment of a Burgeoning Market

With over 300,000 active cryptocurrency traders in Australia, these partnerships come at just the right time to assist those whose interest in the cryptocurrency market is still matched by the apprehension that always precedes a valuable investment.

As Bitcoins’ price more than doubled during the past year, Aussie fintech companies have correctly assessed that a possible hurdle stopping formerly uninterested investors from expanding the market was the alleged lack of legislation regarding big-league cryptocurrency companies.

This added layer of security between investors and brilliant business ideas may soon open a world of possibilities on the already highly developed Aussie crypto market.Between Coinjar, the longest-running exchange platform, CoinSpot, an Aussie cryptocurrency trading platform with one of the highest volumes around the globe, and Assembly, Australia is positioned to secure a strong position as a market leader.