Category: Cryptocurrencies

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Crypto Exchange Cryptocurrencies Swyftx

Swyftx adds 47 new Crypto Assets for trading

Swyftx Now Supports the most Crypto Assets, 176, compared to any other Australian Exchange.

[Brisbane, Australia – Sep 25] —  

  • Now Supporting 176 Assets from 129 (47 New Assets) – the most crypto related assets supported than any other Australian Crypto exchange to date.
  • All New Assets Swyftx will be supporting are listed in the table below.
  • Aligns with a new website refresh, focusing on simplicity and a clean interface.
  • Swyftx’s instant withdrawal feature utilising OSKO is just around the corner with development in the final testing stages; this means when withdrawing money back to AUD from a Swyftx Account, users will receive their funds within 5 minutes directly to their bank account.
  • Swyftx is expanding into New Zealand within 2020, currently working through onboarding of partners to support this location.

“Our vision has always been to build an integrated platform that services all the needs of everyday Australians investing in crypto currency. Delivering the most crypto-assets in one place is just one of the many components essential to the success of our strategy.”

CEO of Swyftx, Alex Harper

Swyftx is an Australian Cryptocurrency Exchange Platform

New Coins Listed

Coin NameCoin Code
UmaUMA
DFI.moneyYFII
NumeraireNMR
BalancerBAL
AragonANT
SushiswapSUSHI
TerraLUNA
Wrapped NXMWNXM
THORChainRUNE
Curve DAOCRV
HiveHIVE
StorjSTORJ
JustJST
IRISnetIRIS
DiaDIA
TomoChainTOMO
WanchainWAN
bZx ProtocolBZRX
AnkrANKR
BluzelleBLZ
The SandboxSAND
ARPA ChainARPA
Celer NetworkCELR
VeThor TokenVTHO
Loom NetworkLOOM
CivicCVC
AirSwapAST
ChromiaCHR
NebulasNAS
Dusk NetworkDUSK
Standard Tokenization ProtocolSTPT
pNetworkPNT
Cocos-BCXCOCOS
FIO ProtocolFIO
SelfkeyKEY
DrepDREP
CartesiCTSI
ViteVITE
NavCoinNAV
NeblioNEBL
Measurable Data TokenMDT
TokenClubTCT
TROYTROY
MovieBlocMBL
Orchid ProtocolOXT
AvalancheAVAX
SUNSUN
Categories
Australia Blockchain Cryptocurrencies

Ralph Kalsi Expands Business With Blockchain Autonomous Solutions

Ralph Kalsi — founder of leading Australian company Ralph Kalsi Blockchain Consultancy — has launched the autonomous company Blockchain Australia Solutions with the goal of ramping up research on blockchain technology and its applications — such as quality assurance, eco-friendly housing, and much more.

Setting Aside Marketing To Pursue Research

After a successful career in digital marketing, Kalsi has taken the decision to retire from the lucrative field of digital marketing in order to focus on the development of blockchain technology and its game-changing potential. 

Consulting services will also be provided by Blockchain Australia Solutions. BAS has made itself a fully separate entity from Kalsi’s previous firm. Formerly the Managing Director of One Stop Media, Ralph Kalsi dove into the competitive field of blockchain in 2016 — and became a world leader in his field within only three years.

Aside from blockchain development and consulting, Blockchain Australia Solutions also provides a vast range of services to help investors commodify real-life assets such as art, venture capital funds, and real estate into security token offerings (STO).

Blockchain Australia Solutions will also provide tailor-made Blockchain-powered solutions to companies and even to entire industries that show an interest in this field.

 The organisation aims to transform every aspect of our society  using an innovative approach towards a myriad of problems.

Since it was founded, Blockchain Australia Solutions has partnered up with Fintech Australia — an advocacy group for new technologies in the financial sector that aims to use blockchain technology — among other cutting edge technologies —  in order to create a fintech ecosystem in Australia and beyond.

  BAS has also joined forces with R3Corda, a company that harnesses blockchain technology in order to find solutions to specific business challenges in both dynamic and highly regulated markets, all while providing industry-specific distributed ledger technology for companies in a variety of industries. 
With a great track record in an innovative field, Ralph Kalsi’s full embrace of blockchain is yet another example of leading figures using blockchain to change the current modus operandi.

Categories
Australia Bitcoin Cryptocurrencies Scams

Anglicare Sydney Held to Crypto Ransom Over Data Hack

Australian not-for-profit Anglicare Sydney has confirmed that it is currently being held ransom for cryptocurrency due to a large data leak caused by hackers that have stolen a significant amount of sensitive personal information from their computer systems.

Anglicare Sydney manages records for a wide range of healthcare services, including adoption, foster care, counselling, and mental health services. The not-for-profit has announced that over 17 gigabytes of data was hacked and sent to a remote location on August 31 in a malicious cyber track.

The hack represents a significant data loss, as Anglicare Sydney is currently contracted by the NSW Department of Family and Community Services to provide both adoption services and foster care, as well as a series of programs designed to assist vulnerable families and at-risk youth.

In a statement released regarding the hack, Anglicare Sydney noted that the main system relating to Anglicare Sydney’s Out of Home Care Program, which includes the foster care program, was not impacted. 

Signals Directorate Confirms Crypto Ransom Demands

The hack is currently under active investigation by the NSW police, who have stated that they are conducting inquiries. Notably the Australian Signals Directorate — Australian government’s intelligence, cyber warfare and information security agency — confirmed that it is currently working alongside Anglicare Sydney to investigate the hack, highlighting the fact that the hackers are demanding cryptocurrency as a payment method.

“Ransomware can cripple organisations that rely on computer systems to function by encrypting all connected electronic devices, folders and files and rendering systems inaccessible. Cybercriminals will then demand a ransom in return for the decryption keys, often in the form of untraceable cryptocurrencies such as Bitcoin.”

Anglicare Sydney has announced that it will refuse to pay a ransom or engage with cyber criminals.

Categories
Australia Cryptocurrencies Cryptocurrency Law

Aussie Government Contractor Walks Free Despite Using Government Supercomputers For Mining

Cryptocurrencies are digital tokens – functioning on blockchain technology – that allow people to conduct financial transactions in a peer-to-peer system. “Cryptomining” is the use of computer processing power to solve equations – which help to consolidate and secure the cryptocurrency system. The miner is then rewarded for this activity with cryptocurrency tokens – which is a huge drain on electrical power and PC components.

Jonathan Khoo, a 34-year-old former contractor for the Commonwealth Scientific and Industrial Research Organisation (CSIRO), was accused of using the government supercomputers placed at his disposal at work in order to mine Ether (ETH) and Monero (XMR). The total value of cryptocurrencies gained is only about $9,420 AUD, which he promptly deposited into his own accounts.

Huge Bill Racked Up

Although 9240 AUD isn’t that big of a sum, it turns out an AUD 76.668 electricity bill to the Commonwealth Scientific and Industrial Research Organisation (CSIRO) was allegedly a direct consequence of Khoo’s actions.

By installing code on 2 of the supercomputers at CSIRO, Khoo was able to use resources at the Institute’s disposal for personal gain. This diverted power away from the operations that were supposed to run on these supercomputers.  

When asked for comment, Federal Police cybercrime operations commander Chris Goldsmid stated that Khoo’s conduct had caused a loss of trust in the government and had hindered the important and legitimate activities of the CSIRO supercomputers.

“This man’s activities diverted these supercomputer resources away from performing

significant scientific research for the nation, including pulsar data array analysis, medical research and climate modelling work.”

In spite of an offence carrying a maximum sentence of 10 years, magistrate Erin Kennedy gave the Sydney resident a 15-month intensive corrections order – in exchange for his guilty plea. Khoo will serve out his custodial sentence in the community – and must fulfil  300 hours of community service. He will also receive counselling.

Categories
Australia Bitcoin Cryptocurrencies

Cryptocurrency Seen As A Fall-Back Strategy By Forbes

As you all know, Australia is still under lockdown due to the COVID-19 pandemic – imposing one of the strictest set of measures worldwide. According to a recent Forbes article, the pandemic might be a good reason for Australians to have some bitcoin set aside – which many young people seem to have done in the earlier stages of the epidemic.

Gold May No Longer Be The Most Independent Asset

Clem Chambers – a Senior Forbes Contributor and the CEO of stocks and investment website ADVFN – feels shocked that Australia has imposed such severe measures on its own citizens, likening the current restrictions on travel to those imposed by states behind the former Iron Curtain.

“ As far as Australia goes, to me, it is not just what is going on there that is so shocking, but that it can happen to one of the coolest, most advanced and democratic countries on earth. One month a free country, weeks later a not-so-open prison. “

Back then, if you wanted to leave the country, it was more or less imperative to have some gold stowed away, as your access to paper currency could be cut off at a moments notice, once the alarm has sounded. Even before that, gold was always seen as something that could get you through hard times, whether due to economic turmoil, war or social unrest.

Now, Clem Chambers argues that if the lockdown lasts much longer, Australians could be put in a situation where they would have to cross the border illegally, or deal with an economic collapse. If this were to happen, Clem believes that having some cryptocurrency set aside would keep you going if banks collapse or your assets are frozen.

While such a scenario is highly unlikely, one should always prepare for unforeseen circumstances – and with cryptocurrencies, you can do so while also diversifying your investment portfolio.

Categories
Australia Blockchain Cryptocurrencies Regulation

Reserve Bank Rejects Aussie Central Bank Cryptocurrency, Unsure of Facebook Libra Approval

While other countries around the world are flirting with the idea of issuing a central bank backed crypto currency, the Reserve Bank of Australia says no — citing a lack of compelling policy.

Countries such as Sweden, Canada, and China are all actively investigating the potential benefits of a central bank issued digital currency, but the RBA isn’t swayed by the use cases of blockchain technology. In a payments paper issued on Thursday, the RAB expressed doubts regarding the future of stablecoins, along with cryptocurrencies such as Facebook’s Libra project.

The RBA has stated that it remains to be seen whether or not Facebook’s Libra cryptocurrency will gain regulatory approval and be allowed to operate in Australia. Other assessments in the paper highlight the slow rate at which cash payments are declining compared to relatively cashless countries such as Sweden.

RBA Won’t Eliminate Cash — Yet

The widespread adoption of real-time payment solutions such as the New Payments Platform place Australia ahead of the curve with regards to safe, low cost, and convenient payment platforms from traditional banks, according to the RBA.

“The (RBA’s) view is that there is currently no strong public policy case to introduce a CBDC (Central Bank Digital Currency) for retail use,” 

The RBA isn’t planning on ceasing the issuance of banknotes despite the ongoing push to minimize the use of cash in Australia, stating that it will continue to provide “reasonable access” to banknotes “for as long as Australians wish to keep using them.”

While the RBA is opposed to the concept of a central bank issued cryptocurrency, other countries are not so recalcitrant. Sweden’s Riksbank has floated the idea of an e-Krona several times over the last three years, citing the country’s rapid adoption of cashless alternatives.

The Bank of Canada, however, has taken further steps toward a central bank issued crypto, with the Bank of Canada announcing in February that it will develop the capacity to issue a retail central bank digital currency as soon as it becomes desirable.

Categories
Australia Crypto Debit Cards Cryptocurrencies

Revolut Launches Aussie Crypto Exchange, Crypto Roundup for Australian Users

Digital banking app Revolut has announced the impending launch of a larger suite of crypto functionality to the Australian market ahead of pending approval for an Australian financial services license, providing Aussies with exposure to a range of digital assets in addition to a variety of crypto tools and features.

The recent launch of Revolut in Australia saw the platform launch a new neobank in the country, operating as an Australian equivalent of the digital bank’s US and EU services. The latest addition to the services Revolut provides will allow users to access a broader range of features, such as deposit accounts and personal lending. 

Edward Cooper, Revolut’s Head of crypto division, stated in comments released to the Australian that greater volatility in cryptocurrencies is driving investors towards the new asset class as an attractive alternative.

“The volatility is making it more attractive for people … It is making people think what other assets are a place where I can put some money and see if it can perform better under these unusual circumstances.”

Revolut Aims for 1 Million Australian Users

Revolut has launched in Australia into direct competition with Australian neobanks such as Volt, Xinja, and 86 400, which offer home loan, banking, and deposit products. Revolut’s new crypto features include innovative options such as the Roundup feature, which allows users to round up everyday payments to the nearest dollar and then invest the excess into cryptocurrency.

Revolut Australia chief executive Matt Baxby highlighted the ease with which Australians can use the Revolut app to buy cryptocurrencies, noting that the difficulty involved in getting started can turn some investors away.

“Buying and selling cryptocurrencies can be incredibly complicated and confusing for the uninitiated, which means many Australians don’t know how to access cryptocurrency as an investment option”

Baxby, formerly operating as a chief financial officer at Bank of Queensland, stated that Revolut aims to capture 1 million new Australian users within the next year. 

Categories
Australia Cryptocurrencies Cryptocurrency Law Scams

Online Romance Cryptocurrency Scams On The Rise

Scams carried out by means of romantic attraction are one of the oldest tricks in the book – but reports from the Financial and Cyber Crime Group reveal that many fraudsters have modernized their methods.

Investigators have reminded Australians to stay vigilant to online romance scams, following a spike in complaints involving cryptocurrency-related fraud – many of which start on online dating platforms.

The Financial and Cyber Crime group has investigated more than 70 complaints from victims over the last six months –some Queensland victims have lost several hundred thousand dollars.

Criminal Organizations Seem To Be The Culprits

The ASIC has reported that from March through May of 2020, the rate of online scams involving cryptocurrency has increased by 20%. These scams follow a generally predictable pattern.

First of all, a romantic partner or even a simple acquaintance tells an unsuspecting victim how they made money on a certain trading platform and encourages them to deposit as many funds as possible. Reassuring the client that it is perfectly safe to trade – since blockchain transactions cannot be faked – the bad actor gains the victim’s trust.

The catch, however, is that the platforms the victims are directed to are actually fake and do not deal with cryptocurrencies. Once the new user starts trading, the user is shown fake data to convince them that they are turning a profit.

Eventually, the user is shown more fake data showing trading losses, despite the fact that there is either no trading taking place – or the devaluation of the cryptocurrency imitated by the platform is nowhere as severe.

Once a victim tries to withdraw whatever funds they have left, the bad actor either suddenly cuts off all contact or requests more money in order to release the remaining funds.

The targets also often become victims of identity theft or data mining, carried out through the usual methods – however, due to the nature of cryptocurrency trading platforms, it does not look out of place for the fake website to request a photo of an ID card and a selfie in order to perform KYC.

The ASIC suggests all traders employ caution and use their better judgment. Before engaging in cryptocurrency trading, always make sure that the platform you are trading on is legitimate. For an in-depth list of measures you can take to stay safe while trading cryptocurrencies, you can check out our article on the subject. 

Categories
Australia Blockchain Cryptocurrencies

Bitcoin SV Introduced As An Option On 4 More Online Platforms

The ability to buy and trade Bitcoin SV (BSV) has been enabled on 4 more platforms whose target markets are the UK and Australia.

The platforms who have just gone live with a BSV offering are Bitcoin.com.au – and it’s UK counterpart Bitcoin.co.uk – Coinloft.com.au, and BuyaBitcoin.com.au.

A Blast From The Past

Bitcoin SV – a cryptocurrency that claims to be the only version of Bitcoin that still follows Satoshi’s original vision for a crypto world – is seeking to expand its market and hopefully attract new investors as well as older investors who have had skin in the game for years and remember the days when a pizza was bought for a few thousand bitcoins.

The Bitcoin Association’s Founding President, Jimmy Nguyen, has a positive view of the move by these 4 trading platforms and hopes that this is only the beginning of widespread Bitcoin SV adoption.

“These retail sites help bring digital currencies to the mainstream by making it easy for everyday users to buy BSV.   They also forge new links between the traditional financial system and the digital asset ecosystem.  We look forward to more growth of Bitcoin SV’s ecosystem across the world.”

Coinloft offers a variety of cryptocurrencies for sale on their website that can be paid for through a multitude of payment methods. Aside from the usual online payments done via credit or debit card, you can even buy cryptocurrency on the Coinloft platform from your local post office.

Buyabitcoin is a fintech company based in Melbourne that also allows payment at your local retailer. Like Coinloft, Buyabitcoin also offers its services at Australian Post Offices – and at certain newsstands too.

Whether Bitcoin SV will take off in the current competitive market for cryptocurrencies in Australia is yet to be seen. Between market cornerstones like Ethereum and Bitcoin and new innovative currencies like Qoin, Bitcoin SV may have a hard time establishing itself on the crypto market.

Categories
Australia Crypto News Cryptocurrencies

Qoin means to become yet another pillar of crypto stability

Qoin is an Australian-made cryptocurrency that seeks to join USD Tether and other stablecoins as a currency good for saving assets in — as opposed to the volatile cryptocurrencies not tied to a widely adopted currency.

Qoin, however, does not rely on another currency, but rather on real-world goods and services.

More Takers, More Value

Qoin’s chief marketing officer Andrew Barker says the market for Qoin was envisioned as a currency that anyone can invest in, regardless of the level of expertise. 

More precisely, it is for those investors who might still be queasy about cryptocurrencies, following the notorious tumble in 2017.

“Mums and dads” looking for something more stable to invest in, with the mindset, “I’m not going to make a fortune overnight but I’m not gonna lose a fortune overnight. “So based on each new Qoin merchant who joins the ecosystem, the value of Qoin increases.”

If many merchants affiliated with Qoin were to stop accepting Qoin as a payment method, the value of the cryptocurrency could tumble. However — since its introduction in January of 2020 — the value of the coin has risen from AUD 0.15 to AUD 2.01.

Party limousine operator Chris McMilan has put Qoin stickers on his vehicles to see if the new cryptocurrency garners interest — and he is not alone. From jewelers to grocery stores to service providers, Qoin currently has amassed nearly 8000 partner businesses — and talks with plenty of other businesses are always underway.

This week, Qoin has also launched in New Zealand, a move that proves the interest for the new cryptocurrency is rising. Whether Qoin becomes a big player on the Australian market — and APAC at large — it is a project that fits in nicely with the government’s prediction that by 2030 cryptocurrencies will contribute $3 trillion to the national economy.