Sched. Maintenance: 14th October, 14:00 UTC+11. Expect 4 hour outage.

11 Oct 2018 17:25
Nicholas Fletcher, Customer Experience Officer

Sched. Maintenance: 14th October, 14:00 UTC+11. Expect 4 hour outage.


Scheduled Maintenance Complete – All systems operational

23 Sep 2018 18:30
Nicholas Fletcher, Customer Experience Officer

Scheduled Maintenance Complete – All systems operational


Sched. Maintenance: 23rd September, 14:00 UTC+10. Expect 4 hour outage.

21 Sep 2018 14:53
Nicholas Fletcher, Customer Experience Officer

Sched. Maintenance: 23rd September, 14:00 UTC+10. Expect 4 hour outage.

In the Media

Thousands of self-managed super funds now investing in cryptocurrencies

17 Sep 2018 10:05
Winston Su, Marketing Director

SMSF customers who are registered with Independent Reserve now number around six to seven thousand. That’s still a relatively small percentage of the more than 590,000 SMSFs in Australia, which hold combined assets of almost $700 billion. It’s a significant pool of capital from which to draw on, and local crypto exchange operators are trying to capitalise on the opportunity.

For full story on Business Insider featuring quotes from CEO Adrian Przelozny, click here.

Thousands of self-managed super funds now investing in cryptocurrencies


ERC20 support and maintenance

6 Sep 2018 16:30
Nicholas Fletcher, Customer Experience Officer

Independent Reserve is pleased to announce the imminent launch of ERC20 support on our exchange platform. Initially we will support two ERC20 tokens:

  • OmiseGO (OMG)
  • 0x (ZRX)

OmiseGO – This project will connect existing crypto wallets to a central OMG blockchain, which will then allow you to exchange between cryptocurrencies easily 0x – This project is an open protocol allowing for a decentralised exchange and has generated a lot of interest with their smart contract platform to give users greater control over their funds.

We will be releasing these tokens with an introductory brokerage fee of 0.1%, this will last for two weeks so don’t delay!

OmiseGO also made an airdrop to anyone who had at least 0.1 ETH back in September of 2017 (at block 3988888) which we will honour. If you had at least 0.1 ETH in your Independent Reserve account when the above block was mined, you will have your OMG airdrop amount in your IR OMG wallet after our release.

Timing: We will be performing system maintenance and upgrades on Sunday 9th September at 2pm (AEST). We expect this to last approximately 4 hours and during this time you will not be able to access your Independent Reserve account. Once this completes, our new… click for more

ERC20 support and maintenance


Ripple XRP release and maintenance

5 Jul 2018 14:51
Nicholas Fletcher, Customer Experience Officer

We are excited to announce the imminent launch of our 5th cryptocurrency – Ripple XRP.  XRP is the native currency of the Ripple Transaction Protocol.  It is primarily used as a bridge currency for when two entities wish to trade different currencies where no pair exists.

We will be releasing this with an introductory brokerage fee of 0.1% (for XRP only), this will last for two weeks so ensure you get your trades in early!

Timing:

We will be performing system maintenance and upgrades on Saturday 7th July at 1pm (AEST).  We expect this to last approximately 6 hours and during this time you will not be able to access your Independent Reserve account.  Once this completes, XRP will be available for trading.

Please be aware that there will likely be low liquidity for the first week or two as the market builds.  We recommend that customers place limit orders rather than market orders until local volatility settles down.

Ripple XRP release and maintenance


Independent Reserve reduces crypto withdrawal fees

24 Apr 2018 15:39
Nicholas Fletcher, Customer Experience Officer

Independent Reserve has reduced all cryptocurrency withdrawal fees recently off the back of general network improvements in part thanks to general transfer batching and Bitcoin SegWit adoption.  We have also implemented SegWit for Bitcoin as part of our recent scheduled maintenance.  Other recent changes include:

  • BCH new format addresses are now live
  • Mobile view compatibility fixes
  • 2FA now required (if enabled) for crypto withdrawals, instead of password
  • New verification and account creation interface
  • Reduced some crypto deposit confirmations required
  • Various other bugs squashed.

Independent Reserve reduces crypto withdrawal fees


First Australian digital currency exchange regulated: Independent Reserve

3 Apr 2018 12:00
Nicholas Fletcher, Customer Experience Officer

12:00, 3 April, 2018 (Sydney) Independent Reserve, the Australian digital currency exchange, this morning became the first Australian exchange of its kind to be regulated.

Independent Reserve is the first exchange to be regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). Set up in 1989, AUSTRAC ensures Australian institutions conform to the required standards around Counter-Terrorism Financing and Know Your Customer rules.

CEO Adrian Przelozny said the regulation represented a huge leap forward for the local digital currency industry. “We have been lobbying for increased regulation since we opened for business in 2014,” he said. “We passionately believe that the digital currency economy will – and should – become just another part of the mainstream economy. In order for that to happen, digital currency needs to be regulated just like any other asset class. This is an excellent new step on that journey.”

Independent Reserve investor Steve James said AUSTRAC regulation would also help exchanges interact more easily with the banking sector. “Coming from a banking background it’s easy to see why banks have seen this sector as a potential AML/CTF risk,” he said. “While in the past we’ve seen the bigger banks showing reluctance to get involved, now we have… click for more

First Australian digital currency exchange regulated: Independent Reserve


No bank deposits over the long weekend

28 Mar 2018 11:54
Nicholas Fletcher, Customer Experience Officer

If you wish to deposit any money with us for trading over the long weekend, we highly recommend you make the deposit today, as the banks will not be processing any transfers over the long weekend.  Our final deposit run will be on Friday morning, but to hit this run you will need to place the deposit at the latest by COB Wednesday (today!), for $AUD deposits.  If you miss the cut off, the money will not hit our account until Wednesday morning next week, so don’t delay!

For $NZD or $USD deposits, SWIFT takes even longer, so if you have not placed your deposit yet, you will likely have missed the cut off.

Independent Reserve wishes everyone a happy Easter!

No bank deposits over the long weekend


Scheduled maintenance and Litecoin

16 Mar 2018 12:08
Nicholas Fletcher, Customer Experience Officer

We are excited to announce the imminent launch of our 4th cryptocurrency – Litecoin. Litecoin is based off Bitcoin, and was first released in 2011. It is currently maintained by the Litecoin project, and is in the top 5 cryptocurrencies by market capitalisation. We will be releasing this with an introductory brokerage fee of 0.1% (for Litecoin only), this will last for one week so ensure you get your trades in early!

Timing:

We will be performing system maintenance and upgrades on Saturday 17th March at 2pm (AEDT). We expect this to last approximately 4 hours and during this time you will not be able to access your Independent Reserve account. Once this completes, Litecoin will be available for trading. Please be aware that there will likely be low liquidity for the first week or two as the market builds. We recommend that customers place limit orders rather than market orders until local volatility settles down.

Scheduled maintenance and Litecoin


Mike Tilley backs cryptocurrency exchange Independent Reserve

15 Mar 2018 16:55
Nicholas Fletcher, Customer Experience Officer

Mike Tilley is the latest person to throw his considerable influence and personal financial wealth behind Independent Reserve.

“At the end of the day, cryptocurrencies are going to fundamentally change the way value is stored and transferred.  That will break the intermediary role of the banks and in turn that will threaten the role of regulators.”

 – Mike Tilley

Tilley says the banks would no longer be able to charge usurious rents for the transfer of money internationally once cryptocurrencies become mainstream.

He predicts large global corporations will eventually issue their own cryptocurrency coins as a way of protecting their intellectual property and bypassing banking systems.

Tilley said he was attracted to the idea of investing in blockchain-based technologies after his success in investing in a company called Identitii through KTM Ventures Innovation fund.

He said he and Martin Rodgers from KTM did extensive due diligence on a number of cryptocurrency exchanges in Australia before deciding to back Independent Reserve.

For the full article, please see HERE.

Mike Tilley backs cryptocurrency exchange Independent Reserve


OTC desk launching for institutions

12 Mar 2018 12:47
Nicholas Fletcher, Customer Experience Officer

Independent Reserve, the Australian Digital Currency exchange, has opened Australia’s first over-the-counter trading desk for institutions wanting to make large digital currency trades.

CEO Adrian Przelozny said the lack of block trading venues had been a barrier for institutions to participate in digital currency investment.

“Digital currency markets are just like any other asset class, in that when the market sees a big trade coming through it will move the price against whoever is making that trade,” he said. “In equity markets they solve that problem with dark pools and sales trading desks, but there is no digital currency equivalent in Australia as yet. By establishing an OTC desk with sales traders we’re able to connect institutions with one another, so they can trade without moving the market or getting price slippage.”

Mr Przelozny said the union of orderbook and OTC was a leading trend in the global digital currency space, as evidenced by deals such as Goldman Sachs’ backed OTC broker Circle’s purchase last week of Poloniex for US$400M. “With our OTC offering we are creating the first institutional-grade offering for firms in Australia and New Zealand,” he said.

Trading professional Tobias Abbey will join Independent Reserve to lead the development of the… click for more

OTC desk launching for institutions


General policy on hard forks and airdrops

28 Nov 2017 07:54
Adrian Przelozny, CEO

Given the recent increase in hard forks and fork attempts in the ecosystem, we would like to remind all customers as to our general policy regarding these events.

If a hard fork occurs on a blockchain, we reserve the right to exercise our discretion when deciding to support or not support any forked coins.

This is necessary to allow us to assess various factors of a fork to ensure that adding support for a forked coin is feasible and does not put at risk the client funds held by us.

If in doubt, our recommendation is to assume that we will not support the fork and withdraw Digital Currency to an address under your control prior to the fork occurring if you’d like access to any resultant tokens.

Please exercise extreme caution when attempting to claim any tokens resulting in a fork, as doing so will usually require the exposing of your private key which may put any other assets held at that address at risk.

General policy on hard forks and airdrops

Industry News

Guide to SMSF investing into Cryptocurrency

6 Aug 2017 12:00
Adrian Przelozny, CEO

A great guide to investing superannuation funds into Cryptocurrency via Independent Reserve! click for more

Guide to SMSF investing into Cryptocurrency


Market Update – 16 Oct 2018

16 Oct 2018 15:34
Winston Su, Marketing Director

More price volatility this week than what we have seen of late. The general risk-off sentiment from last week’s equity pull back saw crypto prices, especially alts, retreat.  XBT was down at one point 17%, ETH down 18%, BCH down 19% and XRP down 27%.  XBT recovered somewhat, with a little help from Tether to finish the week flat, again. Alts were less fortunate, ETH closing the week down 8%, BCH 11%, and XRP down 14%

News headlines:

  • Fidelity Investments, a 72 year old Wall street giant which administers more than US$7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services on Monday. It will be the first major global investment firm to seriously invest in the crypto space and is a huge step towards opening the pipeline to institutional funds. Fidelity Digital Asset Services will offer both cryptocurrency custody and trade execution services for institutional investors.
  • With the Tether investigation still fresh in everyone’s mind and the more recent news of Bitfinex struggling to obtain new banking relationships since its departure from Noble bank, concerns spread yesterday afternoon that USDT may become unpegged from the USD. As USDT holders raced for the door the USDT/USD premium… click for more

Market Update – 16 Oct 2018


Market Update – 10 Oct 2018

10 Oct 2018 14:41
Winston Su, Marketing Director

Welcome back to another Australian crypto market update.  There has been plenty of positive news local and abroad to make up for the lack of price movement this week.

In markets we saw more low volatility in Bitcoin, trading within a 3% range for yet another week. BCH kept most of its recent gains, dropping 1% this week. XRP fell 15% since last Monday as investors likely took profits from its meteoric rise a couple of weeks back.

This week’s headlines:

* Bakkt provided more colour on its first product which will roll out next month.   The futures contract will be completely backed with physical Bitcoin, quelling partially backed rehypothecation rumours. It will be interesting to see the impact this has on Bitcoin price movements after its launch.

* Google reinstates crypto ads. However, not in Australia, only in the US and Japan…

* The Winklevoss crypto exchange Gemini has secured an insurance policy for its storage of digital assets by an insurer syndicate led by Aon.  This follows Lloyd’s of London entering the crypto insurance space. Crypto insurance has been very sought after by high net worth and institutional clients here in Australia and offshore. It’s great to see more insurers getting familiar with… click for more

Market Update – 10 Oct 2018


Market Update – 2 October 2018

2 Oct 2018 17:00
Winston Su, Marketing Director

This week, the price action was in the alts. BCH had a strong week off the back of Bitmain’s IPO filing. We saw whipsaw price movements earlier in the week before rallying 18% on Wednesday night and a further 10% on Thursday. It was up 13% for the week overall. XRP held onto its gains after doubling in value last week. It briefly dropped 13% on Monday only to recover most of that the following day. BTC remained stable, trading within a range of only a few hundred dollars. Closing the week flat around the AU$9,250 mark.

One of the main headlines this week was the public release of Bitmain’s financial statements and prospectus for its upcoming IPO.   Bitmain, one of the largest mining firms globally, is looking to list on the Hong Kong Stock Exchange. There has been plenty of controversy surrounding the IPO’s timing and Bitmain’s sizable BCH holdings.  After the release of the IPO application on Wednesday night, BCH rallied over 23%, almost breaking its three-week high.  Some analysts are pointing to Bitmain’s stronger than expected financials as the driver for the rally.

In other news Mike Novogratz, ex-hedge fund billionaire, and founder of Galaxy Digital, the biggest crypto… click for more

Market Update – 2 October 2018


Quick Brew? Bitfury’s Coffee Machine Accepts Bitcoin Via Lightning Network

2 Oct 2018 08:03
Ashkhen Zakharyan

Blockchain firm Bitfury has come up with a novel product aimed at making it easier to pay for products with bitcoin.

A specialised engineering team within the company has developed a coffee vending machine capable of connecting to the Lightning Network, and as a result, the vending machine can accept bitcoin payments without charging high fees or requiring long transaction times, according to a press release. LightningPeach, the team behind the new vending machine, added a device capable of joining the network to a coffee machine that already sported some built-in smart components.

Vasyl Grygorovych, LightningPeach’s head of community, said that the team’s strategic goal is to develop a real-world infrastructure for faster bitcoin payments.

Full story here

Quick Brew? Bitfury’s Coffee Machine Accepts Bitcoin Via Lightning Network


Independent Reserve ADCA Certification

27 Sep 2018 13:08
Winston Su, Marketing Director

Independent Reserve has been certified by ADCA, the Australian Digital Commerce Association as compliant with the Australian Digital Currency Industry Code of Conduct. The Digital Currency Industry Code of Conduct is a self-regulatory scheme and was developed in response to a recommendation of the Senate Enquiry into Digital Currencies from August 2015. Independent Reserve has demonstrated to independent auditors and ADCA that code compliance obligations from multiple Australian regulators have been met.

‘I am very excited and proud that our continuous focus to provide a highly secure trading environment for our customers has been recognised through our ADCA certification. That the number of Australians holding cryptocurrency has nearly tripled since January, 2018 – even after the spectacular bull run during the latter half of 2017 – indicates just how critical it is for the next wave of financial infrastructure to be robust and considered. This is a major step for Independent Reserve as the evolving oversight of the Australian cryptocurrency industry provides unique opportunities for Australian investors.’- Adrian Przelozny, Independent Reserve CEO.

‘ADCA is delighted that Independent Reserve has achieved certification under the Australian Digital Currency Industry Code of Conduct.  The Code establishes best-practice standards for digital currency exchanges operating in Australia. … click for more

Independent Reserve ADCA Certification


UNICEF France Accepts Donations in 9 Cryptocurrencies

24 Sep 2018 15:48
Ashkhen Zakharyan

The French office of the United Nations Children’s Fund (UNICEF) has started accepting donations in 9 of the most popular cryptocurrencies, including bitcoin cash (BCH) and bitcoin core (BTC). The announcement comes after earlier this year the UN agency launched several other crypto-related initiatives.

Donations in all supported cryptos are currently accepted directly through the website of the French branch, the Cryptonaute outlet reported. Commenting on the announcement, the director of UNICEF France, Sébastien Lyon stated: “Cryptocurrency and blockchain technology used for charitable purposes offer a new opportunity to appeal to the generosity of the public and continue to develop our operations with children in the countries of intervention.”

Full story here

UNICEF France Accepts Donations in 9 Cryptocurrencies


Market Update – 21 September 2018

21 Sep 2018 12:24
Winston Su, Marketing Director

Market Update 14th – 21st September 2018

Consensus Singapore took centre stage this week.  There were 8,000+ attendees at what is one of the largest blockchain and crypto asset conferences in Asia. There are positive indications from the conference that Singapore is on its way to becoming a major crypto hub in Asia.

Markets were somewhat docile this week, BTC trading flat to last week’s close. Total market capitalisation excluding bitcoin grew just over US$9B from this time last week, partly thanks to XRP.

Whilst many coins this week remained stable, XRP was on fire. On Tuesday night XRP rallied 21% and then rallied further again Thursday night. At the time of writing XRP was up another ~44% overnight, up ~65% since last Friday. The main driver being Ripple’s Sagar Sarbhai announcing that xRapid will go live in the “next month or so”. Up until now Ripple’s 120 banking partners have not been using XRP. This may change with the roll-out of xRapid which aims to replace interbank nostro accounts with XRP on the xRapid platform. Thursday night’s surge coincided with a Reuters article  announcing the adoption of Ripple’s payment network protocol xCurrent by a top American bank, PCN.

Comments from Ethereum… click for more

Market Update – 21 September 2018


A Third of Humanity Remains Financially Excluded

19 Sep 2018 16:11
Ashkhen Zakharyan

Unrestricted access to financial services is one of the main preconditions for achieving economic freedom. However, large portions of the planet’s population, especially in the developing world, remain excluded from the traditional banking system. The number of the unbanked or underbanked citizens of the industrialized, digitized nations is also unexpectedly high, now when almost everyone, everywhere has a smartphone in their pocket.

Do you think cryptocurrencies can significantly improve financial inclusion?

Full story here

A Third of Humanity Remains Financially Excluded


Market Update – 14 September 2018

17 Sep 2018 10:35
Winston Su, Marketing Director

ETH has taken a sharp dive these last few weeks, comments from Vitalik Buterin and news about Goldman Sachs’ crypto trading desk being put on hold sent the already jittery market lower. With global exchange volumes down and the volume of shorts on Bitmex at almost all-time highs, short-term sentiment is bearish to say the least.

From a more macro long-term lens, I thought it would be a good opportunity to give an update on what we at IR have been seeing at the ground level in Australia. One thing’s for certain, the crypto community is becoming increasingly more sophisticated top tier investment banks, trading firms, law firms and regulatory bodies are moving into the space and building greater financial infrastructure products.

Good quality meetups and digital asset education events are happening at a more regular rate, both in the crypto space and the mainstream financial arena. Last week, the Alternative Investment Management Association (AIMA) held its annual flag ship event in Sydney. This prestige alternative investment event attracted more than 300 attendees. Items discussed included security, custodian developments, settlement solutions and regulation developments. The vibe was truly positive and it seems like steps are being taken to integrate this new asset… click for more

Market Update – 14 September 2018


NSW puts digital driver’s licence on a blockchain

12 Sep 2018 08:18
Ashkhen Zakharyan

The NSW government’s digital driver’s licence will be underpinned by blockchain technology developed by Australian firm Secure Logic.

The company today revealed a new platform it is calling TrustGrid is one of the key architectural components of the electronic vehicle licence, which is expected to be in place statewide before the end of next year.

The blockchain technology was used in the Dubbo trial earlier this year where around 1400 motorists opted in for the digital driver’s licence.

Full story here

NSW puts digital driver’s licence on a blockchain