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If you are able to login, please request assistance via our support screen. This allows you to send us messages securely, protecting any sensitive data related to your account.
If you are a new user, you can email us at [email protected]
Please note that we will never ask you for your password and it is never safe to give out your password.
What is Bitcoin?
Bitcoin (BTC) is a cryptocurrency that has been around since 2009. It is transmitted between people via the Internet, and stored on computers and other electronic devices. Bitcoin is a currency that was designed for the digital age, when so much of our financial transactions are already made electronically. It allows money to be sent quickly from one side of the world to the other, without relying on a bank, credit card provider or other intermediary. It is great for both consumers and merchants, because transaction fees are negligible and for international purchases one needn't to be concerned with currency conversion. Already, Bitcoin is accepted by merchants all over the world, including PayPal, and it's used by millions of people daily.
How Bitcoin Works
Bitcoin works through the network of computers, laptops, tablets and mobile devices that belong to those people using Bitcoin. To send or receive Bitcoin, people download freely available software (e.g. Bitcoin Core or Electrum) onto their device. This automatically connects them to the bitcoin network, and contributes to the strength and reliability of the network. Bitcoin is not owned by any individual or organisation, but there is an open, well-established protocol across the network by which all devices communicate. This ensures the security and integrity of the currency.
To make a transaction, one specifies the recipient's Bitcoin address and the amount and presses 'send'. Bitcoin transactions are then disseminated across the Bitcoin network and verified by each party that receives the details of the transaction. If the transaction is valid, it is forever committed to the Bitcoin network (the blockchain), and the recipient will see the new funds on their device within a few minutes.
The amount of Bitcoin you own is stored on a the public blockchain ledger that everyone has access to. Your wallet does not actually store Bitcoin in it, it merely holds the proof (private key(s)) that you are someone on the ledger with Bitcoin to your name. Independent Reserve by default will store this wallet (private key) for you, but you can easily transfer your bitcoin from your Independent Reserve wallet to a personal wallet if you prefer. One great thing about Bitcoin is that they can be securely protected against theft by using a strong password, and backed-up to prevent accidental data loss – something that can't be done with cash.
What is Ripple?
Ripple's goal is to connect banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally. Further information can be found at ripple.com.
Can I buy Ripple (XRP) on Independent Reserve?
You can buy Ripple (XRP token) directly from Independent Reserve's platform. XRP can be purchased with fiat currencies: AUD, USD or NZD. You can view the XRP price by going to the Market page and selecting XRP on the top left corner of the website.
What is Ethereum?
Ethereum is distributed peer-to-peer network, which was launched in 2015. It shares some similarities with Bitcoin, however its main point of differentiation is the ability for it to host "smart contracts", which are computer programs designed to execute on the Ethereum network. The value token of the Ethereum network is called ether (ETH), and is a cryptocurrency which shares some commonalities with Bitcoin.
Further information can be found on the Ethereum project page.
What is Ethereum Classic?
Ethereum Classic (ETC) is a fork of Ethereum, the two blockchains diverging in 2016. Further information can be found at the Ethereum Classic project site.
What is EOS?
EOS is a decentralised operating system, with the most common comparison being Ethereum. EOS tokens started off as ERC20 tokens, but in July 2018 they migrated to a native EOS token. Unlike Bitcoin, EOS uses delegated proof of stake as its consensus mechanism and uses a unique method of block production whereby there are limited “block producers” that must be voted in by the community. To read more see here: https://eos.io/
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a fork of the Bitcoin project, and shares many similarities with Bitcoin. It was created in mid 2017, and in late 2018 it forked again into a "Bitcoin SV" fork, and a "Bitcoin ABC" fork. Independent Reserve currently supports only the ABC fork. Further information can be found on the BitcoinCash project site.
What is Litecoin?
Litecoin (LTC) is a fork of the Bitcoin project, and shares many similarities with Bitcoin. It was created in 2011. Further information can be found on the Litecoin project site.
What is Stellar?
Stellar is a cryptocurrency platform created with the goal to help move money around. Stellar shares a lot with Ripple XRP, and was originally forked from the XRP code base back in 2014. Like XRP, Stellar is pre-mined, but unlike XRP, Stellar has built-in inflation, and is slated to inflate by 1% per year. Stellar’s native currency is called the Stellar Lumen, and uses the ticker XLM. You can read more about Stellar on their project site.
What is Basic Attention Token?
BAT, or Basic Attention Token, is an ERC20 token that plays a role in online advertising. Instead of users being subjected to ads while they browse, they can pay BAT tokens to content creators, or alternatively watch ads in return for BAT tokens. To participate in this ecosystem you must use the Brave browser. To read more about the browser and BAT (Brave Rewards), see here.
What is OmiseGO?
OmiseGO is an ERC20 token built on the Ethereum platform and uses the ticker "OMG". Created by the founders of the payment gateway company Omise, the supply is fixed at approximately 140 million tokens, and isn’t mineable. The main goals of this blockchain are to be a decentralised exchange and a white label wallet SDK. To read more about OmiseGO, see here: omisego.network.
What is Augur?
Augur is a decentralised prediction market that leverages crowd perception on an event. Prediction markets have existed for a while, however Augur is the first decentralised one, allowing an event’s outcome to be decided by the “crowd”, as opposed to a centralised authority like in a traditional prediction market. The Augur token uses the REP ticker. You can read more on the project site.
What is 0x?
0x is an ERC20 token that uses the ticker "ZRX" and is designed to offer a decentralised exchange. It is built on top of Ethereum smart contracts and the goal of the project hopes to improve on existing decentralised and centralised exchange protocols to allow a trustless exchange of tokens. To read more about the 0x project, see here: 0xproject.com.
What is Golem?
Golem is a reputation based network that allows decentralisation of computing tasks. Using the Golem network a user can rent out their computing power for others to use, or can request that others in the network perform computing tasks on their behalf (for a fee). This fee is paid using the Golem Network Token (ticker: GNT), and uses Ethereum smart contracts to determine when a computing provider should be paid. More information can be found on the project site.
What is PlayChip?
PlayChip is the Universal Gaming Token for sports betting, gaming, fantasy sports, eSports and more. PlayChip's mission is to deliver the world's biggest incentivised, blockchain-enabled sports community and gaming ecosystem. PlayChip uses the ticker "PLA", and should not be confused with Plair, another cryptocurrency that also uses the same ticker.
An ERC20 token, the PlayChip is set to disrupt the US$3 trillion unregulated gambling industry by providing unparalleled trust and transparency, ease of use, lower fees, and provably fair betting environments. More information can be found at playchip.global
Getting started with Independent Reserve is easy. Simply click the create account button on the top right-hand corner, enter your username and password, and you now have a registered account with us. Before trading however, there are a number of things you will need to do to help protect yourself, as well as legal obligations we are required to follow. Everything we require is set via the Settings screen.
Entering your personal details
By law, we are required to request your first and last name, date of birth, and address. This data must be entered accurately, as we verify this before activating your account. In most cases, we are able to instantly verify clients from the following countries:
- Cayman Islands
- Czech Republic
- Hong Kong
- Isle Of Man
- Korea, Republic Of
- New Zealand
- United Kingdom
Please note that being a citizen of one of the aforementioned nations does not automatically entitle you to trade. Independent Reserve verifies clients on an individual basis and reserves the right to approve a client for trading.
Securing your trading account
Your trading account is the single access point for you into the Independent Reserve cryptocurrency markets and to your coins. Such an important access point requires extensive security and Independent Reserve are proud of their excellent track record in account security and the range of security measures available to you.
Your password is the first layer of security when accessing your trading account. Independent Reserve allows you to pick a password of your choice. It is crucial that you choose a password that is difficult for a computer to guess.
Tips on selecting a good, strong password:
For a strong, hard-to-break password, length is key. Use passwords at least 8 characters long — the longer the better. You can use either long sentences in plain English or long randomly generated passwords.
Never use obvious passwords like 12344321 or myun1quepa55word. These are relatively easy to break.
Never use the same password for different websites. Your password for your Independent Reserve trading account should be unique.
A feature we offer all customers is the ability to create a duress password for your trading account. If for any reason you are not comfortable entering your login and password credentials, you can enter the duress password and access to your account will be suspended for 24 hours.
Two-Factor Authentication (2FA)
To protect your account against unauthorised access, we recommend that your account is protected with two-factor authentication (2FA). Every trading account at Independent Reserve allows 2FA to be enabled. If enabled, it means that at the login screen, a user cannot access the account using only a username and password, the user must also have access to a mobile phone or third-party authentication device when logging in.
Most people are familiar with 2FA, though perhaps unfamiliar with the term. Every time you make a withdrawal at an ATM, 2FA is employed. It means that to proceed, you must be identified in two different ways. You are identified primarily with your debit card (a physical token), and secondly with your PIN (something you remember). Neither your debit card or PIN is useful to a thief by itself.
At Independent Reserve, the same principle applies, although instead of shipping you a physical token, you can install software on your mobile phone that generates a new code every 30 seconds. This works the same way as a physical token. You will need to have your phone with you to login to your Independent Reserve account.
Storing your username and password separately to your 2FA method ensures your account can only be accessed by you.
Independent Reserve strongly recommends that all account holders enable two-factor authentication.
Our mechanism for implementing 2FA is software known as Google Authenticator. It is very simple to use, and can be installed for free on Android, iOS or Windows Phone devices. This includes iPhones, iPods, most Samsung and Nokia telephones as well as a variety of other devices. On iOS or Android, look up Google Authenticator by Google Inc. on your device. If you have a Windows Phone device, look up Authenticator by Microsoft Corporation.
If you are unable to install any of the three applications listed above, there may be alternatives for your device, but please use your own discretion, as we are unable to review all third-party software. As a final alternative, you may select SMS for 2FA, where we will send a code to your primary or secondary telephone number. Please be aware that SMS messages are often delayed, and it is preferable to use Google Authenticator where possible.
Validating your email address
It is important that we validate your email address for a number of reasons. To trade with Independent Reserve, we recommend that you enable two-factor authentication, or 2FA (see Setting up two-factor authentication). In the event you are unable to authenticate using 2FA, or you forget your password, this email address will be used to help verify who you are. If you are unable to authenticate using 2FA or you forget your password and you are unable to verify ownership of this email address, you will no longer have access to your Independent Reserve account. We also use this email address for sending you various notifications about your account activity.
Validating a primary telephone number
A valid primary telephone number is required for the same reason we require a valid email address. That is, in the event you are unable to authenticate using 2FA, or you forget your password, this telephone number will be required to identify you.
The telephone number must be capable of receiving SMS messages, as we will use SMS to send you a code that can be used to identify you.
Validating a secondary telephone number
A valid secondary telephone number is required as additional protection for you in the event you lose the ability to authenticate using 2FA, or you forget your password and you lose your primary telephone. We are able to identify you using this phone number, as an alternative to your primary telephone number. If you don’t have a secondary telephone number, we recommend using that of a trusted friend or relative.
The telephone number must be capable of receiving SMS messages, as we will use SMS to send you a code that can be used to identify you.
Verifying your identity
Having completed the previous steps, we now need to verify your identity. We are legally obligated to do this before activating your account for trading.
To verify your account, you will be prompted for a lot of personal information. The specific information requested differs depending on your nationality. The information requested will be verified against databases from your own country, so it is important the information is completely accurate before submitting, or we may not be able to verify you. This information will also be checked against various AML (anti-money laundering) and CTF (counter-terrorism financing) databases.
If the information you have provided is accurate, in most cases you should be approved for trading immediately, and your account will be activated. There may be some cases where we are still unable to identify you for one reason or another. Please contact us via the Support screen, and we will be happy to investigate your case and see if we can help.
Independent Reserve monitors the IP addresses (a unique string of numbers that identifies every device using the internet) that are used to access each trading account. If Independent Reserve detects that there is an IP address attempting to access your trading account that has not been used to access your account previously, access to the trading account is restricted. The user attempting to access the account is prompted to provide additional information to Independent Reserve to ensure that they are the account holder.
This process is followed for every new IP address range used to access your account.
Independent Reserve facilitates trading Bitcoin, Ripple, Ether, EOS, Bitcoin Cash, Litecoin, Ethereum Classic, Stellar Lumens, Basic Attention Token, OmiseGO, Augur, 0x, Golem and PlayChip in three fiat currencies: AUD, USD and NZD.
International clients may deposit USD or NZD directly via SWIFT transfer.
You can view our latest exchange rates in the FX Rates section of this page.
Electronic Funds Transfer Deposits
Australian customers may deposit AUD funds via Electronic Funds Transfer. Electronic Funds Transfer Deposits are generally processed within 1-2 business days. Once your account is verified, you will be issued a unique deposit reference to include on all of your electronic funds deposits. After the deposit is processed, an email will be sent notifying you that the funds are available in your account.
Electronic Funds Transfer deposits of $AUD 100.00 and above are free. Deposits below this amount incur a $AUD 0.99 fee. Electronic Funds Transfer deposits are usually processed within one business day, but please allow at least two business days before contacting our support staff. Please note that banks do not process Electronic Funds Transfer transactions on weekends or public holidays.
Deposits made by Electronic Funds Transfer that do not contain your unique deposit reference may attract an Incorrect / Missing Reference fee.
See Fee Schedule below for a list of all fees and charges.
PayID / Osko Deposits
Customers in Australia can make instant AUD deposits via the Osko system using Independent Reserve's PayID and your unique Independent Reserve reference code. Osko deposits up to $10,000.00 made during a 24 hour period will be processed and credited to your account instantly. Larger deposits will be credited to your account within 1 business day.
After the deposit is processed, an email will be sent notifying you that the funds are available in your account.
Osko deposits above $1,000.00 are free.
See Fee Schedule below for a list of all fees and charges.
Australian customers may deposit AUD funds via POLi.
POLi deposits up to $1,000.00 made during a 24 hour period will be processed and credited to your account instantly. Larger deposits will be credited to your account within 1 business day.
After the deposit is processed, an email will be sent notifying you that the funds are available in your account.
POLi deposits incur an AUD 3.30 fee.
See Fee Schedule below for a list of all fees and charges.
International clients may deposit funds into our USD or NZD bank account via SWIFT transfer.
It is essential that the source of the funds are held in an account name matching that of your Independent Reserve account. Funds received from a different account name can not be credited to your account.
Before initiating a transfer, it is necessary to create a Pending International Transfer via the Accounts screen. This allows us to quickly identify the source of the funds and correctly credit them to your account. There may be a delay in crediting funds to your account if funds are sent without a Pending International Transfer.
SWIFT details are available on the Accounts screen. SWIFT transfers typically take 2-3 business days before funds are available to you. Please allow at least 3 business days before making an enquiry regarding funds not yet appearing in your account.
Independent Reserve does not control the conversion rate used for funds received in currencies other than USD or NZD, so it is recommended that funds be transmitted in USD or NZD.
SWIFT deposits of $5,000.00 and above are free. Deposits below this amount incur a $15.00 fee in the currency you send, which will appear in your Independent Reserve account. Please be aware that your bank or any intermediary banks your bank uses may charge additional fees to initiate a SWIFT transfer.
See Fee Schedule below for a list of all fees and charges.
Clients may deposit cryptocurrencies directly to their Independent Reserve account via the Accounts screen. You will be given a unique wallet address to send funds to. Once your cryptocurrencies have been sent, you should see the funds appear in your account after approximately 10-15 minutes, marked as ‘unavailable funds’. It takes approximately 20 minutes (see confirmations belows) for the transfer to be confirmed by the network and for the funds to become available for trading.
You can find your wallet address in the Deposit Wallets tab in the Accounts screen or by clicking the deposit link in line with the currency you’re depositing. You may generate a new wallet address at any time via the Deposit Wallets tab.
Cryptocurrency required confirmations
For a transaction to be considered final, we require a certain number of confirmations on the blockchain. These differ per cryptocurrency:
|Basic Attention Token||50|
Fiat Withdrawals to a Bank Account
Withdrawals from your AUD, NZD or USD account are initiated from the Accounts screen. Funds may be transferred in AUD/USD/NZD, to bank accounts held in supported countries, providing the account name matches that of your Independent Reserve account. We are unable to transfer funds to a bank account that is held in another person or entity’s name.
AUD withdrawals to Australian accounts are free, and are typically processed the next business day.
In the case of withdrawing from your Independent reserve USD account to an Australian AUD bank account, we will first convert the funds into AUD. You can view our latest exchange rates in the FX Rates section of this page. International or non AUD withdrawals incur a $20.00 fee. It takes typically 2-3 business days before the money is received in your account. Minimum withdrawal amount is $50.00.
See Fee Schedule for a list of all our fees and charges. Please be aware that in some cases your bank, or an intermediary bank may charge additional fees outside of our control.
For your protection, all withdrawals are approved manually by Independent Reserve before being processed. We realise this may cause some inconvenience, but please consider that we do this in the interests of your security.
If you have entered incorrect bank account details for any transactions, please contact us immediately via our secured Support screen.
To withdraw any cryptocurrency from your Independent Reserve account, follow the prompts via the Accounts screen. You will be prompted to enter an address where we will send the cryptocurrency. Once you have specified the address and amount, you will see a transaction appear in the Pending state, and that amount will no longer be available for you to trade.
For your protection, certain cryptocurrency withdrawals may be flagged for manual review by our staff before being processed. We realise this may cause some inconvenience as some transactions may take several hours to be approved, but please consider that we do this in the interests of your security. Once we have approved the withdrawal, you should see the cryptocurrency arrive in your own wallet within seconds. The transaction status will be updated to show the progress of the transfer.
In some cases, Independent Reserve may request your bank account details. We will make a small deposit to that account, requesting proof of that deposit before approving your cryptocurrency withdrawal. We do this to mitigate the risk of identity theft and comply with Australian AML regulations and apologise for any inconvenience or delay this may cause.
Currency Minimum Withdrawals
|Cryptocurrency||Minimum withdrawal amount|
|Bitcoin Cash||BCH 0.001|
|Ethereum Classic||ETC 0.1|
|Stellar Lumens||XLM 22|
|Basic Attention Token||BAT 10|
Trading is the process of buying and selling cryptocurrency for AUD, USD and NZD.
Independent Reserve facilitates trading cryptocurrency in three fiat currencies: AUD, USD and NZD.
Independent Reserve features a multi-currency order book which automatically converts all open orders into your currency of choice. This means that you can take advantage of the full pool of open orders to always get the best possible price when trading cryptocurrency, as someone using AUD can transparently buy cryptocurrency from another user who trades in USD or NZD, and vice versa.
You can view our latest exchange rates in the FX Rates section of this page.
Independent Reserve supports six order types:
A limit buy is an order to buy cryptocurrency at no more than the specified price per cryptocurrency unit. A limit buy is not always executed immediately, but may remain open on the Order Book until it is either matched against one or more sell orders, or it is cancelled. It is possible that a limit buy is partially filled, then cancelled. The price paid per cryptocurrency unit for a limit buy is always less than or equal to the specified limit. The price will never be above the specified limit.
Stop Limit Buy
A stop limit buy is a limit buy order, which will only trigger and become active if the best sell price on the order book reaches the specified stop price. If the stop price is not reached, then the stop limit buy order will remain untriggered indefinitely.
A limit sell is an offer to sell cryptocurrency at no less than the specified price per cryptocurrency unit. A limit sell is not always executed immediately, but may remain open on the Order Book until it is either matched against one or more buy orders, or it is cancelled. It is possible that a limit sell is partially filled, then cancelled. The price paid per cryptocurrency unit for a limit sell is always greater than or equal to the specified limit. The price will never be below the specified limit.
Stop Limit Sell
A stop limit sell is a limit sell order, which will only trigger and become active if the best buy price on the order book reaches the specified stop price. If the stop price is not reached, then the stop limit sell order will remain untriggered indefinitely.
A market buy is an order to buy cryptocurrency at the market price. The market price, in this case, is the weighted average of the lowest limit sells sufficient to fill the order. In the simplest case, the lowest limit sell is equal to the market price, if that order has sufficient volume available to fill the market buy. If the lowest limit sell has insufficient volume, then the market buy will be partially filled by that limit sell, and subsequently higher limit sells will fill the remaining volume ordered until the order if full. Therefore, it is common that one market buy may be filled by multiple limit sells. The price paid to fill the order will be the weighted average of all the limit sells that filled the order. A market buy is always matched against open limit sells and executed immediately. If there are no open limit sells, the market buy will not wait to be executed, but immediately be closed as unfilled. It is possible that a market buy may be partially filled and then closed due to no more available limit sells.
A market sell is an offer to sell cryptocurrency at the market price. The market price, in this case, is the weighted average of the highest limit buys sufficient to fill the order. In the simplest case, the highest limit buy is equal to the market price, if that order has sufficient volume available to fill the market sell. If the highest limit buy has insufficient volume, then the market sell will be partially filled by that limit buy, and subsequently lower limit buys will fill the remaining volume ordered until the order if full. Therefore, it is common that one market sell may be filled by multiple limit buys. The price paid to fill the order will be the weighted average of all the limit buys that filled the order. A market sell is always matched against open limit buys and executed immediately. If there are no open limit buys, the market sell will not wait to be executed, but immediately be closed as unfilled. It is possible that a market sell may be partially filled and then closed due to no more available limit buys.
Independent Reserve uses competitive exchange rates for all currency conversions used during multi-currency trading. Please note, that these rates are continually changing and may be slightly different when your trade is processed.
|1 Aud =||1||0.6703||1.0471|
|1 Usd =||1.4750||1||1.5508|
|1 Nzd =||0.9417||0.6357||1|
|Trade commission||As low as 0.05%, see Trade Volume Discount section below|
|Electronic Funds Transfer deposits||
Electronic Funds Transfer deposits of $AUD 100.00 and above are free
(smaller deposits incur a $0.99 processing fee)
|Incorrect / Missing Reference||$20.00|
|POLi deposits||$3.30 processing fee|
|PayID / Osko deposits||
PayID / Osko deposits of $AUD 1,000.00 and above are free
(smaller deposits incur a $2.50 processing fee)
SWIFT deposits of $5,000.00 equivalent and above are free
(smaller deposits incur a $15.00 processing fee)
|Australian AUD withdrawals||Free|
|International or non AUD withdrawals||$20.00|
|Bitcoin withdrawals||BTC 0.0003|
|Ripple withdrawals||XRP 0.15|
|Ether withdrawals||ETH 0.001|
|EOS withdrawals||EOS 0.1|
|Bitcoin Cash withdrawals||BCH 0.0001|
|Litecoin withdrawals||LTC 0.001|
|Ethereum Classic withdrawals||ETC 0.001|
|Stellar Lumens withdrawals||XLM 0.01|
|Basic Attention Token withdrawals||BAT 2|
|OmiseGO withdrawals||OMG 0.2|
|Augur withdrawals||REP 0.03|
|0x withdrawals||ZRX 1|
|Golem withdrawals||GNT 5|
|PlayChip withdrawals||PLA 300|
Trade Volume Discount
Your brokerage fee can be discounted based on your past 30 day trading volume. The trading volume is re-calculated every 4 hours. Further discounts may apply if you have purchased an Account Plan. Order fees are calculated at the time the order is placed. Existing, open orders will not have their fees adjusted when the trade volume is re-calculated.
|30 day trade volume AUD||Trade commission|
Our Referral Program allows you to become a part of the success of Independent Reserve and earn real money in the process.
Join our Referral Program and invite your friends to earn a 50% revenue share of all brokerage fees paid by the person you invite for the first 90 days.
The Referral Program is available to all verified account holders of Independent Reserve, and you can find further details on the Settings page.
At Independent Reserve we go to great lengths to ensure the security and integrity of the system and the cryptocurrency held within.
Our core servers are securely located at two Tier 3 data centres, in Sydney, Australia. This allows us to synchronously replicate all data across both locations in real-time, to ensure zero data loss should disaster strike. To ensure system continuity, we have a fully configured production environment in a secondary data centre, ready to fail over to should the need arise. Our data is signed and encrypted using geographically dispersed keys, spread across four data centres. We utilise cold storage to hold the majority of cryptocurrency completely offline.
Email Authenticity (PGP)
Emails sent from Independent Reserve may be PGP signed, which provides evidence that Independent Reserve transmitted the message, and that it was untampered during transit. To verify this, you will need to copy the public key provided below into a suitable email program or cryptographic toolset such as GNU Gpg4win.
-----BEGIN PGP PUBLIC KEY BLOCK----- Version: GnuPG v2.0.22 (MingW32) mQENBFQ8Vu4BCADKSKgl1ICLLj9GzzyAbNR5jJN+nZWK58TtA77VfNBIqZsFVhO2 n31aA0pP8aKGDixjOtlrieTtXUV5Xqa4fBdeTILA7gXDZKUL7k1GPtVHuCvhRDDI wFFMB7YpQAvA5aXLCkv4f6yqbVeKI75QvZrdyEuw20jWsdMnHrVxPYUIBBsECy0J 1PBcKnc+K+9wESDOx1My+0AOvHfex2pPHmU4paRkbJxSUzsriO2VSc1uNHKWXKG1 G8Qbxwv+1WaqJBZ5EeGHLnwK6W5Zq5aqT6AX7bPNjyu04wEaeZNVznVRqFcXnbpw ZuGLDUSeSpftwtefHjY3E2ZQ+rJeikO8y0MbABEBAAG0M0luZGVwZW5kZW50IFJl c2VydmUgPHN5c3RlbUBpbmRlcGVuZGVudHJlc2VydmUuY29tPokBOQQTAQIAIwUC VDxW7gIbLwcLCQgHAwIBBhUIAgkKCwQWAgMBAh4BAheAAAoJEI7569C6EiZA0z8H /jh35zHZ7PAIJJDxDJxpGBqVRKjwK9w3zcYRYe56UnMZRLKvBZ3v3mtsLbO99tiH j8K0woG2mr4E90TQ9vkIeiLmAoc2DV0WlZzw7MAvZES6KgyU5FzarAK2Z0uJBf1r lAGcEnbNybGzUUeEho6AYSuMJIgvcdkBTzasoDL6RG+HvNRlkfu2dpPSE6s/ExSl F5AFAJ7KyWCFLevHXvp7YiIB7E3BjzqZYApZ0mx4qRxm4My7YRWFB63CKMkNrNJD HmxHCplo/RdL5Hgi6LGwjC+jfW2Sl1Ym2Jcp6aCmNDnU4EEbt2VZDoznHttoTQet FB3W1emR1KT54IJ2cRgPWwU= =g0R/ -----END PGP PUBLIC KEY BLOCK-----
You can enable PGP signing for your account via the Settings screen.
Independent Reserve features a JSON API known as Airbridge™. The specification can be found here.
Independent Reserve Pty. Ltd. (we or us) works together with banks and financial institutions that are required by law to take steps to prevent fraud, money-laundering and terrorist-financing. Given the nature of our core business, we take the privacy and security of an individual’s personal information very seriously.
Collection, use and disclosure
We collect personal information from customers for identity verification purposes under anti-money laundering and fraud prevention laws.
We only use and disclose personal information collected in this manner insofar as necessary in order to integrate with identity verification and related services, or as otherwise required by law.
There are also a number of limited circumstances in which we may collect personal information directly from you. This is limited to circumstances where you make direct contact with us by telephone or in writing, or via our website at independentreserve.com. We will only use personal information collected in this manner for the purpose of communicating with you or otherwise in accordance with the purpose for which you provided your personal information.
The personal information we collect
The type of personal information which we might collect from customers includes your name, current and previous addresses, date of birth, telephone number, driver licence number, passport number and any other information which may be relevant for the purpose of verifying your identity. We require our third party providers and corporate customers to comply with all relevant privacy and data protection laws (including, where necessary, obtaining the appropriate express or implied consent from you at the time your personal information is collected) in order for such information to be lawfully used for identity verification and related purposes.
We do not collect, use or disclose any sensitive information about any person. This includes a person’s racial or ethnic origin, political opinion, political association, religious belief or affiliation, philosophical belief, professional or trade union or association, sexual preference, criminal record or health information.
We do not use or adopt as our own identifier any individual identifier assigned by any other organisation.
We take all reasonable steps (including the employment of appropriate security systems and procedures) to ensure all data held by us is safe and secure. Such security measures include physical protection and electronic encryption to prevent any unauthorised access.
We take all reasonable steps to ensure that any personal information that we collect and use is accurate, complete and up-to-date.
Access and correction
You have a right to access your personal information, subject to some exceptions allowed by law. If you wish to access your personal information, you should contact us via the Support screen. We reserve the right to charge a fee for searching for and providing access to your information.
Where we determine, acting reasonably, that personal information held in respect of an individual is no longer needed for our functions or the services we provide, we will permanently destroy or de-identify that information.
Amendments to the policy
Anti Money Laundering (AML) Policy
Independent Reserve is bound by Australian law to take steps to ensure that it is not involved in the facilitation of money laundering or terrorism financing.
Various AML measures are in place designed to articulate our commitment to detecting, preventing and reporting attempts to use our financial services platform to illegally launder money, to finance illegal activities such as terrorism and drug trafficking, or to commit fraud.
The following is a list of some of these measures:
- All clients must undergo a verification check to confirm identity before being allowed to trade
- Fiat currency withdrawals can only be made to a bank account held in the same name as the Independent Reserve account
- Fiat currency deposits can only be accepted from a bank account held in the same name as the Independent Reserve account
- Independent Reserve is obliged to report any suspicious activity to the relevant authorities
- BTC, XRP, ETH, EOS, BCH, LTC, ETC, XLM, BAT, OMG, REP, ZRX, GNT and PLA withdrawals may require proof of bank account held in the same name as the Independent Reserve account before being approved
Terms and Conditions
By using this Site, and further by registering to use our Service, you ("You, Your or Yourself") are agreeing to accept and comply with the terms and conditions of use stated below ("Terms and Conditions"). You should read the entire Terms and Conditions carefully before you use this web site ("Site") or any of the services of this Site. As used herein, "Independent Reserve" refers to the company Independent Reserve Pty. Ltd., including without limitation thereby, its owners, directors, investors, employees or other related parties. Depending upon context, "Independent Reserve" may also refer to the services, products, Site, content or other materials (collectively, "Materials") provided by Independent Reserve. The Service operated by Independent Reserve allows buyers ("Buyers") and sellers ("Sellers"), to buy, sell and transfer the cryptocurrencies Bitcoin, Ripple, Ether, EOS, Bitcoin Cash, Litecoin, Ethereum Classic, Stellar Lumens, Basic Attention Token, OmiseGO, Augur, 0x, Golem and PlayChip (known as “Cryptocurrencies” from herein).
The transfer of these Cryptocurrencies is only supported via the wallet addresses which are visible to you on the "Accounts" page of the Site. These wallet addresses are specific to you and each Cryptocurrency and must be used in accordance with instructions provided to ensure successful transfer. Failure to follow instructions may result in irretrievable loss of Cryptocurrency.
Depending on Your country of residence, You may not be able to use all the functions of the Site. It is your responsibility to follow those rules and laws in Your country of residence and/or country from which You access this Site and Services. As long as you agree to and actually comply with these Terms and Conditions, Independent Reserve grants to you a personal, non-exclusive, non-transferable, and limited right to enter and use the Site and the Service. If you do not accept the terms and conditions outlined in this agreement, do not access this site and do not use this service. By opening an account to use the Service ("Account"), You expressly represent and warrant that You have accepted these Terms.
The trading of cryptocurrencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency - crypto or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. Cryptocurrencies trading also has special risks not generally shared with conventional currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Cryptocurrencies are a unique kind of "fiat" currency, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of Cryptocurrencies in a crisis or issue more currency. Instead, Cryptocurrencies are an as-yet autonomous and largely unregulated worldwide system of currency firms and individuals. Traders put their trust in a digital, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity. Cryptocurrencies trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Cryptocurrencies because of unexpected changes imposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling. There may be additional risks that we have not foreseen or identified in our Terms and Conditions. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading cryptocurrencies. We use our banking providers in order to receive client moneys and making payments. Our banking providers do not transfer Cryptocurrencies, exchange Cryptocurrencies, or provide any services in connection with Cryptocurrencies.
Limited Rights of Use
Unless otherwise specified, all Materials on this Site are the property of Independent Reserve and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices. The trademarks, service marks and logos of Independent Reserve and others used in this Site ("Trademarks") are the property of Independent Reserve and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to Independent Reserve. The Trademarks and Material should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.
Maintaining Your Account
We are vigilant in maintaining the security of our Site and the Service. By registering with us, You agree to provide Independent Reserve with current, accurate, and complete information about Yourself as prompted by the registration process, and to keep such information updated. You further agree that You will not use any Account other than Your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access. The creation or use of Accounts without obtaining the prior express permission from Independent Reserve will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and Independent Reserve may elect to take further action against You. You are also responsible for maintaining the confidentiality of Your Account information, including your password, safeguarding your own cryptocurrencies, and for all activity including Transactions that are posted to Your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from You, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, or accept termination of Your Account. You are required to notify Independent Reserve immediately of any unauthorized use of Your Account or password, or any other breach of security. Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Independent Reserve or any user of the Site. Finally, You agree that You will not use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking.
Debit Account Balances
If at any time your Independent Reserve account has a debit balance, you agree to pay us:
- An account overdraft fee determined by us from time to time to cover our reasonable costs and expenses arising from the debit account balance
- The total debit balance including the account overdraft fee
We may suspend your account at any time and without notice to you if you fail to pay the outstanding debit account balance and account overdraft fees.
If, after a demand is made by Independent Reserve, you have not made payment of the outstanding debit balance, then:
- You authorise us to sell any cryptocurrency assets on your account to recover the outstanding balance; and
- You agree to indemnify us against all costs, expenses and losses incurred, including brokerage, GST, overdraft fees and any other fees as a result of not paying the outstanding debit balance
In the event where your overdue account is referred to a collection agency and/or law firm, you will be liable for all costs which would be incurred as if the debt is collected in full, including commission on collection of the additional costs and also including legal demand costs.
You may terminate this agreement with Independent Reserve, and close Your Account at any time, following settlement of any pending transactions. You also agree that Independent Reserve may, by giving notice, in its sole discretion terminate Your access to the Site and to Your Account, including without limitation, our right to: limit, suspend or terminate the service and Members' Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content, and take technical and legal steps to keep Members off the Site if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another Member's account or providing assistance to others' attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms and Conditions, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Independent Reserve, acting in its sole discretion. We also reserve the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our Site or Service. Members agree that Independent Reserve will not be liable to them or to any third party for termination of their Account or access to the Site. The suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Said bank account shall be held by the Member. Cryptocurrency may be transferred to a valid bank account only after conversion into a currency. Independent Reserve shall transfer the currencies as soon as possible following the Member's request in the time frames specified by Independent Reserve. Independent Reserve will send to You the credit balance of Your account, however in circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will use reasonable efforts to ensure that such charges are disclosed to You prior to sending Your payment, however where they cannot be avoided, You acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.
All services are provided without warranty of any kind, either express or implied. We do not represent that this Site will be available 100% of the time to meet your needs. We will strive to provide You with the Service as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information. We will use reasonable endeavours to ensure that the Site can normally be accessed by You in accordance with these Terms and Conditions. We may suspend use of the Site for maintenance and will make reasonable efforts to give you notice. You acknowledge that this may not be possible in an emergency.
Limitation of Liability
To the extent permitted by law, Independent Reserve will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from negligence or wilful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded. Subject to the foregoing, Independent Reserve's aggregate liability in respect of claims based on events arising out of or in connection with any single Member's use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
To the full extent permitted by applicable law, You hereby agree to indemnify Independent Reserve, and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of Independent Reserve's Sites, Your use of the Service, or from your violation of these Terms and Conditions.
Premium Account Plans
Your Premium Account benefits commence from the date that you pay the Premium Account fee. Premium Account benefits do not apply if you have an "Expression of Interest" for a Premium Account Plan. The Premium Account Plans include three services: Insurance for assets held on Independent Reserve wallets, reduced trading fees and premium support.
Independent Reserve has purchased an insurance policy, backed by a leading underwriter, to cover the loss of cryptocurrency private keys generated and stored offline by Independent Reserve in cold storage wallets. Details of this policy can be viewed in the "Independent Reserve Insurance Policy" section of the Terms and Conditions. Customers are not a party to this insurance; the existence of this policy enables Independent Reserve to offer customers the Insurance service as part of the Premium Account Plan.
Your Premium Account Plan ensures you are protected against theft or loss of any digital currency that is held in an Independent Reserve wallet. Either hot wallet or cold storage. Your digital currency is covered in an equivalent AUD amount in line with your Premium Account tier. Your insurance service does not cover any losses resulting from change in the market price of your cryptocurrencies or any losses arising from unauthorised access to your Independent Reserve trading account. It is your responsibility to use a strong password and maintain control of all login credentials you use to access your Independent Reserve account. In the event of an incident, you will be compensated for any loss of your cryptocurrency holdings at the time of the incident. The basis of valuation of your cryptocurrency holdings is determined by the blended United States Dollar (USD) price as stated on coinmarketcap.com.
In the event that the coinmarketcap.com website is not available, Independent Reserve and the Insurer each select one competent and disinterested expert, and the two chosen experts shall select a further competent and disinterested umpire. The two experts together shall then select an alternative exchange from which the value of the lost cryptocurrency can be determined. If the two experts cannot agree on a suitable exchange then they shall independently submit their selection to the umpire for the umpire's ruling. The blended USD price will be converted to Australian Dollars (AUD) at the USD / AUD exchange rate on the date of the loss event. The FX rate is publicly available on the Independent Reserve website.
Trade Fee Reduction
Trade fee reductions apply from the date that you pay the Premium Account plan fee and will continue until the expiry date of your Premium Account Plan. Trade fee reductions apply in addition to the existing Trade Volume Discount schedule, down to a minimum fee of 0.05%. If the combined Trade fee reduction and trade volume discount would reduce the fee to lower than 0.05%, then the fee for that transaction will be 0.05%.
We take all reasonable steps to ensure that support tickets raised by Premium Account plan customers who have a plan containing the Premium Support feature are responded to within 1 hour during business hours. During times of extreme market conditions, this may not be possible. During such times, premium support customers will receive priority support.
Business hours are between 8:30am and 6:00pm Sydney time, Monday to Friday, excluding Australian national and New South Wales public holidays.
Independent Reserve Insurance Policy
Independent Reserve has purchased an insurance policy, backed by a leading underwriter, to cover the loss of cryptocurrency private keys for specific set of named cryptocurrencies where the private keys have been generated and stored offline by Independent Reserve in cold storage wallets. This insurance policy provides cover on a named perils basis insuring only against: physical loss or damage; third party theft; and/or deliberate or dishonest acts of named Independent Reserve employees that cause a loss of the private keys needed to propagate a transaction on the blockchain of specific named cryptocurrencies. The insurance coverage is subject to various policy terms, conditions & exclusions and to Independent Reserve following an agreed set of security protocols to generate, store and retrieve private keys. If Independent Reserve fail to generate, store or retrieve private keys in accordance with the agreed set of protocols, the policy may not cover the loss.
The insurance policy referenced above does not cover the loss of cryptocurrency held in the Independent Reserve hot wallets. If you have purchased a Premium Account Plan, any proportion of your cryptocurrency held in a hot wallet, or any cryptocurrencies not specifically named under the cold storage insurance policy regardless of which wallet they are stored in, are underwritten by Independent Reserve operating capital. This process is not a risk transfer and Independent Reserve retain 100% of this risk on their balance sheet. In the event of a loss if Independent Reserve's operating capital is not sufficient to meet all claims then customers may not receive 100% indemnity on their lost assets.
These terms, rules, eligibility are incorporated herein for participating in Independent Reserve Promotion Program.
Independent Reserve Promotion Program offers a trading credit of 25AUD which new users/customers can use on the Independent Reserve platform. Further, this Independent Reserve Promotion Program is subject to: i) Successful completion of Know Your Customer (KYC) verification process from Independent Reserve b. User/Customer agrees and accepts that promotion reward has been given gratis and it does not constitute an inducement to invest in crypto, or financial advice in any manner whatsoever.
Promotion Reward: The reward is non-transferable, non-negotiable, and final. Independent Reserve reserves the right to change or substitute the reward in any manner, at any time in any manner of its choosing and reserves the right to withhold the reward, at its sole and absolute discretion, and shall not be liable in any manner whatsoever regarding the same. The promotion rewards given to users under this promotion can be debited back by Independent Reserve if the amount remains unused for a period of 30 days from the date it is credited by Independent Reserve.
Validity: The Independent Reserve promotion expires on September 30, 2019.
Release: Each User/Customer hereby releases and discharges Independent Reserve from any and all claims and/or cause of action, known or unknown, arising from or relating to the reward and/or their participation in the program.
Disqualification: Independent Reserve reserves the right to disqualify any user/customer on the grounds of any alleged fraudulent activities, unfair trading practices, disseminating false information, breach of any terms herein, breach of any terms of Independent Reserve policies available on our website: Participation does not confer any rights or privileges, whether contractual or otherwise, on you. It is clarified that participation in this program does not constitute an offer or an invitation to an offer, nor in any way does your participation in this program constitute a legally binding contract. Independent Reserve at its own discretion reserves the full right to withdraw and/or alter any of the Terms at any time, without prior notice.
Taxes: Independent Reserve shall not be responsible for any tax liability on the user/customer(s) that may be imposed on the reward to recipients under applicable law. User/Customer shall bear all responsibility of payments of all taxes towards their rewards. Independent Reserve in no manner shall provide any tax guidance or advice on this matter to any user/customer and the user/customer may engage independent consultants/advisors to seek any advice in this regard in their sole discretion.
Dispute: In the event of any dispute regarding the Terms and Conditions, rules, conduct, results and all other matters relating to the program, the decision of Independent Reserve shall be final and binding.
Disclaimer: Trading in crypto is subject to market, technical and legal risks. Prices of crypto in Independent Reserve may differ from international prices due to local demand and supply. Please note that Independent Reserve does not regulate prices of crypto/virtual financial assets. Independent Reserve doesn’t guarantee any returns or profits by trading in crypto/virtual financial assets. User/Customer(s) shall use Independent Reserve services to participate in the program or to trade in the crypto/virtual financial asset at their own risk and discretion.
If We are unable to perform the Services outlined in the Terms and Conditions due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy we will not have any liability to You with respect to the Services provided under this agreement and for a time period coincident with the event.
Independent Reserve reserves the right to use its own discretion when deciding to support or not support any new token resulting from the fork of a blockchain. Customers are advised to withdraw cryptocurrency to an address under their own control prior to a fork if they wish to have access to any resultant tokens.
Modification of Terms
Independent Reserve reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.
Making a Complaint
Steps in Making a Complaint
Step 1: Let us know of your concerns by creating a new support ticket
- Category - Other
- Query Type - I have a complaint
- Outline the details of your complaint in the support ticket text box.
Step 2: We will attempt to resolve your complaint by:
- Acknowledging your complaint and ensuring we understand the issues
- Do what we can to resolve the problem
- Keep you informed of our progress
- Provide a final response within 45 days.
Step 3: External Review
If for any reason we are unable to resolve the complaint within 45 days, or you are not happy with our final response, you may refer your complaint to AFCA.
AFCA offers a free, independent dispute resolution service for the Australian banking, insurance and investment industries. You can contact AFCA on 1800 931 678, or by writing to the Australian Financial Complaints Authority Limited, GPO Box 3, Melbourne, VIC 3001, or online at www.afca.org.au