Scheduled Maintenance Complete – All systems operational

22 Apr 2019 17:00

Scheduled Maintenance Complete – All systems operational


Sched. Maintenance: 22nd April 14:00 UTC+10. Expect 4 hour outage

18 Apr 2019 14:00

Sched. Maintenance: 22nd April 14:00 UTC+10. Expect 4 hour outage


Scheduled Maintenance Complete – All systems operational

7 Apr 2019 17:30

Scheduled Maintenance Complete – All systems operational

In the Media

Easter/ANZAC day fiat deposits and withdrawals

16 Apr 2019 17:00
Nicholas Fletcher, Customer Experience Officer

Please be aware that over the Easter and ANZAC day break there will be an impact to fiat (AUD, USD, NZD) deposits and withdrawals.

As Friday 19th, Monday 22nd, and Thursday 25th are all public holidays, banking deposits and withdrawals will be delayed around these days due to the banks halting processing. We recommend making deposits and withdrawals ahead of time, or for deposits you can use POLi for instant transfers.

Easter/ANZAC day fiat deposits and withdrawals


Scheduled maintenance and Stellar listing

4 Apr 2019 14:30
Nicholas Fletcher, Customer Experience Officer

We are excited to announce the imminent launch of Stellar, our 10th listed cryptocurrency. Stellar is a platform aimed at making cross country and currency transfers easier, cheaper, and quicker. Stellar shares a lot with Ripple XRP, and was originally forked from the XRP code base back in 2014. Stellar's native currency is called the Stellar Lumen, and uses the ticker XLM. You can read more about Stellar on their project site.

We will be releasing this with an introductory brokerage fee of 0.1% (for Stellar Lumens 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 Sunday 7th April at 2pm (AEST - note the 7th is the first day of non-daylight saving time!). 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, deposits… click for more

Scheduled maintenance and Stellar listing


Scheduled maintenance and EOS listing

20 Mar 2019 14:30
Nicholas Fletcher, Customer Experience Officer

We are excited to announce the imminent launch of EOS, our 9th listed cryptocurrency. EOS is a blockchain technology that enables the development and hosting of decentralised applications (DApps). The EOS platform is ultimately designed to ensure quick deployment of DApps, to scale to millions of transactions per second, and to eliminate user fees. The company that created the EOS platform is led by Dan Larimer and Brendan Blumer, both are notable veterans in the crypto and tech world. EOS is consistently in the top 5 cryptocurrencies by market capitalisation.

To read more see here: https://eos.io

We will be releasing this with an introductory brokerage fee of 0.1% (for EOS 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 Sunday 24th 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, deposits and withdrawals will be enabled for EOS. Trading will be enabled at approximately 11am on Tuesday 26th March.

Please be aware that there will likely be… click for more

Scheduled maintenance and EOS listing


Ethereum Constantinople/St. Petersburg Fork

26 Feb 2019 10:00
Nicholas Fletcher, Customer Experience Officer

Ethereum's Constantinople and St. Petersburg upgrade will be occurring in the next couple of days. At this stage it is slated to happen at about 6am on the 1st of March (Sydney time).

We will be disabling all Ethereum and ERC20 token (ETH, OMG, ZRX, and PLA) deposits and withdrawals at approximately 11pm on the night before (Feb 28th), and will be re-enabling them a few hours after the fork when it is safe to do so. We will be monitoring the situation closely and will update you with any changes to this plan. Trading will be active during this period.

This appears to be a non-contentious fork (which… click for more

Ethereum Constantinople/St. Petersburg Fork


Scheduled maintenance and PlayChip listing

25 Jan 2019 16:30
Nicholas Fletcher, Customer Experience Officer

We are pleased to announce PlayChip (PLA) as our first Australian ERC20 token listing on the exchange platform.

PlayChip is a gaming utility token launched by PlayUp and is based on the Ethereum ERC20 token standard. PlayChip tokens will be used to transact across gaming, sports betting, fantasy sports and eSports. PlayUp has established PlayChip Foundation to manage the systems hosting the coins. The ecosystem consists of eight partner platforms with about 1 million users across 70 countries. PlayChip are current sponsors of the South Sydney Rabbitohs and have cricket legend Brett Lee and MMA star Robert Whittaker as brand ambassadors. More info can be found on their homepage.

PlayChip's stated mission is to deliver the world's biggest incentivised, blockchain-enabled sports community and gaming ecosystem. "PlayChip is… click for more

Scheduled maintenance and PlayChip listing


Independent Reserve sponsors Sydney Festival 2019

23 Jan 2019 09:42
Winston Su, Marketing Director

Independent Reserve is proud to be based in Sydney and recognises the city's deep passion for the arts and adventurous ideas. Its partnership with Sydney Festival reflects these values. Sydney Festival is a celebration of contemporary culture, art and performances which takes place in January each year.

This year, the festival pays tribute to the underappreciated heroes of space travel in the 50th anniversary of the moon landing. Sydney Festival has commissioned artworks around Barangaroo as part of the city-wide commemoration of Apollo 11, namely 11 larger than life astronauts scattered throughout Barangaroo.

 

Left to right: COO Lasanka Perera, CEO Adrian Przelozny and CTO Roman Stefanidi

 

Independent Reserve is a proud sponsor of three of these astronauts. The astronauts represent the individuals who contributed to space travel in meaningful ways yet, for one reason or another, are under-appreciated. Similar to our mission of creating a healthy space for cryptocurrency growth, the 'Apollo 11' astronauts were committed to the advancement of a new technological space.

Here are the 3 figures sponsored by Independent Reserve:

Michael Collins. The 1969 space mission caused Neil Armstrong and Buzz Aldrin to become household names, but often forgotten is the third man on the mission; Michael Collins. Michael… click for more

Independent Reserve sponsors Sydney Festival 2019


Independent Reserve Highlights from 2018

20 Dec 2018 09:42
Nicholas Fletcher, Customer Experience Officer

As we approach the end of 2018, we thought it perfect timing to share highlights and some of our favourite moments from the year:


We launched our exclusive tax tool developed by KPMG. The tool plugs directly into the user interface allowing traders to estimate tax obligations at the click of a button.


Independent Reserve made its debut at #17 in the prestigious Australian Financial Review Fast Starters List and became the first cryptocurrency firm to do so. The annual feature picks out the 100 fastest growing startups in Australia.


COO of Independent Reserve, Lasanka Perera was recognised as a Fellow of the Australian Digital Commerce Association (ADCA) at Parliament House. Australian Senator Jane Hume and other dignitaries hosted this special event celebrating the leaders driving change in the blockchain industry.


We launched IR Ventures, Sydney's largest blockchain innovation hub. IR Ventures will invest in and support up to 24 companies in early commercialisation stages as well as those building blockchain and fintech solutions in our burgeoning industry.


The SMSF Summit welcomed Independent Reserve to showcase what we do in a number of capital cities. Self-managed super funds… click for more

Independent Reserve Highlights from 2018


Bitcoin cash (BCH) deposits and withdrawals re-enabled

1 Dec 2018 13:09
Nicholas Fletcher, Customer Experience Officer

Independent Reserve has now re-enabled BCH deposits and withdrawals. As mentioned in previous announcements, for now we are only supporting the Bitcoin Cash ABC side of the fork. We will continue using the BCH ticker for this. You may now deposit and withdraw BCH to your IR deposit wallet. Any deposits made while deposits were disabled will now be credited to your account.

While the network is still volatile, Independent Reserve will be requiring 11 confirmations before crediting BCH deposits. BCH withdrawals will depend on the wallet you’re sending to.

If you have any questions, please send us a message through our secure Support system.

Bitcoin cash (BCH) deposits and withdrawals re-enabled


Independent Reserve launches Sydney's largest blockchain hub

26 Nov 2018 10:15
Winston Su, Marketing Director

Independent Reserve, the largest Australian cryptocurrency exchange, has today announced the launch of a blockchain innovation hub and coworking space in Sydney. Known as IR Ventures, the 280 square metre site is located at Level 32, 100 Miller St in North Sydney.

Confirmed tenants include peak industry body the Australian Digital Commerce Association (ADCA) and social enterprise blockchain company Genereos. An abundance of support and opportunities will be available for tenants until they are ready to expand beyond IR Ventures.

Mentors involved with IR Ventures include Independent Reserve CEO Adrian Przelozny and other members of the executive team, Mike Bacina of law firm Piper Alderman, Martin Rogers of venture capital firm KTM Ventures, research and development advisor Nick Falzon of PKF, and Paul Kang, co-founder of application security startup Entersoft.

Commenting on the announcement, Independent Reserve CEO Adrian Przelozny said the launch demonstrated his company’s commitment to helping nurture the next wave of blockchain startups in Australia and unlocking their potential.

“When we founded Independent Reserve in 2013, the blockchain ecosystem in Australia was non-existent; we knew something had to change. We had a vision of helping accelerate blockchain innovation in Australia which underlines our core purpose at Independent Reserve –… click for more

Independent Reserve launches Sydney's largest blockchain hub


Bitcoin cash (BCH) fork update

23 Nov 2018 10:15
Nicholas Fletcher, Customer Experience Officer

We have been closely watching the BCH landscape, both in how the two blockchains are developing, and how the community is reacting. As we originally announced, we will initially be supporting the ‘Bitcoin Cash ABC’ blockchain, and we will be referring to this as ‘Bitcoin Cash’ with the ticker symbol ‘BCH’.

BCH deposits and withdrawals will remain disabled for the time being as the network hashing power remains volatile and there is an ongoing risk of blockchain reorgs which could reverse transactions. We are hoping to re-enable deposits and withdrawals for BCH (ABC) in the coming week.

Regarding the ‘Bitcoin Cash SV’ blockchain, we are considering crediting customers with ‘Bitcoin Cash SV’ balances, matching their BCH balances at the time of the fork, and allowing these to be withdrawn from Independent Reserve. Before this can happen, the ‘Bitcoin Cash SV’ network needs to stabilise and reliable infrastructure such as wallets and block explorers need to emerge in the community. This may take several months. As always, the safety of client assets held within Independent Reserve remains our highest priority.

As always, if you have any questions please send them through our Support system.

Bitcoin cash (BCH) fork update


Independent Reserve launches exclusive Tax Estimator by KPMG

15 Nov 2018 14:27
Winston Su, Marketing Director

KPMG Australia and Independent Reserve, the largest Australian cryptocurrency exchange, today announced the launch of a new tool to help the traders of cryptocurrencies better understand their tax liabilities.

The Crypto Tax Estimator developed by KPMG is a digital tool that plugs directly into Independent Reserve’s user interface, allowing traders to estimate tax obligations on their portfolio all with just the click of a button.

For full story on Computer World, read here

Independent Reserve launches exclusive Tax Estimator by KPMG


Bitcoin Cash (BCH) fork timing

14 Nov 2018 10:10
Nicholas Fletcher, Customer Experience Officer

We would like to remind all customers that a BCH protocol upgrade is scheduled to occur in the early hours of Friday morning, Sydney time. Note – this does NOT relate to Bitcoin (XBT), it relates to the cryptocurrency Bitcoin cash.

As there are two competing proposals, a split in the BCH blockchain will likely occur.

BCH trading will remain available at Independent Reserve with no interruptions, however, we will pause BCH deposits and withdrawals at 9pm Sydney time, November 15. Please ensure that all your BCH deposits and withdrawals have been completed before this time.

BCH deposits and withdrawals will remain disabled until one of the competing blockchains wins majority support and general consensus in the BCH community and the blockchain is stable. We do not know how long that will take, so a long suspension is possible. Be assured that your BCH will remain safe during the fork.

Independent Reserve will exercise its own discretion in deciding which proposal’s chain to support after the fork and will do so with consideration to what is best for our customers whilst maintaining security of all client funds held within our wallets.

Customers who would like to have the option to claim coins on alternative… click for more

Bitcoin Cash (BCH) fork timing


Bitcoin Cash upcoming fork

7 Nov 2018 14:04
Nicholas Fletcher, Customer Experience Officer

Bitcoin Cash is quickly approaching its second hard fork, the first being 6 months ago where the block size was increased to 32MB and some opcodes were added. While the previous hard fork was not contentious, the upcoming one appears to be causing some splits in the community. The Bitcoin ABC client development team announced their changes first. Many in the community did not agree with ABC’s direction, and so nChain (Craig Wright) announced their own new client called Bitcoin SV.

Independent Reserve will upgrade our systems to support the Bitcoin ABC client protocol. We will be disabling deposits and withdrawals for BCH prior to the fork, which should happen sometime in the early morning of 16th November (Sydney time). We will announce exact timing closer to the fork.

Any BCH left in your Independent Reserve wallet will be safe during this period, but as always – if you do not withdraw your coins to a personal wallet prior to the fork, you will not end up with coins on both sides of the fork; you will only have coins on our supported fork.

During the fork upgrade Independent Reserve will monitor the network to determine when it has completed and when the… click for more

Bitcoin Cash upcoming fork


Independent Reserve makes the AFR Fast Starters 2018 List

6 Nov 2018 11:59
Winston Su, Marketing Director

Independent Reserve has become the first cryptocurrency company to make the Australian Financial Review’s Fast Starters 2018 List. This prestigious annual list features the fastest growing startup businesses in Australia.

“It is Independent Reserve’s vision to educate retail and institutional investors about cryptocurrencies but to also grow a sustainable business in a young and thriving industry. We are committed to building on this momentum to help drive further growth and reach greater heights in the years to come. Our success is made possible by the dedication to our customers and we will continue to deliver clients the best trading experience in Australia.” – Adrian Przelozny, CEO

For full story on the Australian Financial Review, read here.

Independent Reserve makes the AFR Fast Starters 2018 List


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

Industry News

Guide to SMSF investing into Cryptocurrency

6 Aug 2017 22:00
Adrian Przelozny, CEO

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

Guide to SMSF investing into Cryptocurrency


Bitcoin SV drama, ETH's daggy dance

16 Apr 2019 15:00
Independent Reserve Trading Desk

Market Update 10th April - 16th April 2019

Welcome back to another Australian crypto market update.

In Markets

Last week's big gains haven't continued - but the good news is there hasn't been a major correction either. Bitcoin is holding above $7000, having lost 3.6% over the week. Ethereum, Ripple XRP and LTC all lost around 10%. EOS was down 2.3% while Stellar went backwards to the tune of 13%. In positive news, the Bitcoin Misery Index hit 89 over the weekend. Historically speaking any score above 67 has only been seen during a bull market.

Not a dull moment. The ridiculous drama of BSV.

In Headlines

Well that… click for more

Bitcoin SV drama, ETH's daggy dance


BTC pumping, LTC halving, Stellar on IR

2 Apr 2019 16:00
Independent Reserve Trading Desk

Market Update 3rd April - 9th April 2019

Welcome back to another Australian crypto market update.

What a difference a week makes. In our last newsletter we asked: 'Is Bitcoin on the cusp of a major breakout?' About an hour after the email hit inboxes, there was a 20% spike in the BTC price. There's been plenty of speculation about the reasons behind the massive jump - some cite large short positions being liquidated, while others point to a good technical setup. We prefer to think of it as the price finally catching up with the fundamentals. The Lightning Network has begun to prove itself, regulations are improving, there's money flowing in from funds and the institutional infrastructure is being refined. It all adds up to a pretty bullish picture from where we're sitting.

In Markets

BTC is up 27% over the past seven days to be sitting just under $7400 - the best price for more than 4 months. Some altcoins are doing even better - ETH booked a 27% rise, XRP is up 14%,… click for more

BTC pumping, LTC halving, Stellar on IR


Markets on the cusp? Fresh flows into crypto

2 Apr 2019 15:00
Independent Reserve Trading Desk

Market Update 27th March - 2nd April 2019

Welcome back to another Australian crypto market update.

March was a very positive month on the markets, with the top ten all in the green apart from XRP, down 1.5%. Bitcoin was up almost 7% over the month, ETH finished up 6%, and there were big gains to be had trading EOS (up 19%), LTC (up 25%) and BCH (up 30%).

In Markets

Is Bitcoin on the cusp of a major breakout? The crypto major hit a 2019 high this week following an April Fool's Day surge of 1.6%. BTC is currently sitting just above $AU5,848, and finished the week up 4.7%. Ethereum ($AU199.49) is up 5.1% this week, EOS ($AU5.90) increased 14.9%, LTC ($AU85.35) up 1.9% and BCH ($AU235.78) closes the week 4.4% higher.

Is Bitcoin on the cusp of a major breakout?

In Headlines

Bithumb Hacked Again

Cryptocurrency exchange Bithumb has reportedly been hacked for a second time in less than a year, with attackers making off with 3 million EOS and 20 million… click for more

Markets on the cusp? Fresh flows into crypto


Crypto Softer, EOS On IR, Mining Heating Up

27 Mar 2019 15:00
Independent Reserve Trading Desk

Market Update 20th - 26th March 2019

In Markets

Crypto markets continued to tread water with Bitcoin ($AU5,552) closing the week 3% down on where it began. Most of the top ten were marginally in the red over the past seven days with Ethereum ($AU189) down 3.9%, Ripple XRP ($AU0.42) retreating almost 4.7%, Litecoin ($AU83.30) down 1.8% and EOS ($AU5.21) falling 2.6%. Bitcoin's market dominance has fallen to a shade above 50% - the lowest point since August last year. Google Trends also show that searches for Bitcoin are at their lowest point since April 2018. Is this a sign that the link between BTC and altcoin prices is finally going to break, or just more statistical noise?

New - EOS listing on Independent Reserve

In Headlines

EOS now on Independent Reserve

Listening to the strong Australian community, we became the first Australian orderbook exchange to list EOS early this week (Tue, 26 March). EOS teams and block producers in Australia can now sell locally… click for more

Crypto Softer, EOS On IR, Mining Heating Up


Daily Bitcoin trading volume highest in almost a year, AFR interviews IR

19 Mar 2019 15:00
Independent Reserve Trading Desk

Market Update 12th - 19th March 2019

In Markets

Daily trading volume for Bitcoin hit $15.5 billion on March 15, the most observed in a 24 hour period since April 25 last year. The total market cap of all crypto also topped $197 billion for the first time in 2019. Unfortunately BTC is still having trouble breaking out above $5600 - the psychological US $4000 mark. It's pretty much bang on that mark today having gained 3.4% on the same day last week. Bitcoin Cash was this week's star performer, gaining a quarter in value. In fact, all of the top ten were in the green - ETH was up 4.5%, XRP (1.4%), and LTC (9.5 percent).

 

In Headlines

Independent Reserve's take on proposed new ICO regulations

Our Head of Risk Duncan Tebb spoke to the AFR last week about our response to the Federal Government's plans to implement a new regulatory framework for Initial Coin Offerings (ICOs). One of Independent Reserve's key recommendations include amending the existing regime by providing… click for more

Daily Bitcoin trading volume highest in almost a year, AFR interviews IR


World's biggest blockchain ETF launched, IEO the return of the ICO?

14 Mar 2019 07:00
Marcus Ochmann – Head of OTC Trading

Market Update 7th - 12th March 2019

In Markets

Bitcoin and Ethereum both finished the week in positive territory, up 3.9% and 4.6% respectively. But it was Litecoin that was the star performer, surging 18.1% over the course of the past seven days. Some suggest this is due to increased awareness of Litecoin's upcoming 'halving' in August when mining rewards will drop from 25 LTC to 12.5 LTC, thereby reducing the supply. Ripple (XRP) traded sideways this week, finishing 1.3% up on where it began, as did Bitcoin Cash which marginally improved its position by 2.78%.

 

COO Lasanka Perera front and centre on the Crypto Sydney Panel on Tuesday.

 

In Headlines

Facebook’s new crypto currency could vastly deepen interapp operability

It’s hard to predict exactly what Zuckerberg and his cronies have planned for the new Facebook cryptocurrency. He might cop a bit of flak for dogging the Winklevoss twins but you can't deny he is one shrewd operator. The coin makes sense. Facebook, Instagram and WhatsApp are all juggernaut platforms in their own right. With a common digital currency layered over all three, a lot of possibilities open up. Facebook Marketplace, a… click for more

World's biggest blockchain ETF launched, IEO the return of the ICO?


Facebook to launch own coin, Bitcoin whales are buying

7 Mar 2019 07:00
Independent Reserve's trading desk

Market Update 28th Feb - 6th March 2019

Welcome back to another Australian crypto market update.

February finally saw some green shoots of hope, with Bitcoin pulling out of its six month long losing streak finishing the month up 11.2%. With transactions at a 12 month high, can the market leader finally break out above AU$5,500? Altcoins surged last month too, with Ethereum up by nearly a third, EOS by 55%, Litecoin by 48% and the Binance Coin by 70%. Tron was the only coin in the top ten in the red, pulling back 13%.

In Markets

This week was less positive however, with Bitcoin trading sideways for most of the week, until Monday's market pullback saw it lose a couple of percentage points to finish the week down 3.2%. … click for more

Facebook to launch own coin, Bitcoin whales are buying


Independent Reserve - Australian Treasury Response

28 Feb 2019 11:00
Winston Su, Marketing Director

Independent Reserve's response to the Australian Treasury Issues Paper: View the PDF here

Independent Reserve - Australian Treasury Response


Well endowed Uni funds up investment as Huobi Aus pulls out

26 Feb 2019 07:00
Marcus Ochmann – Head of OTC Trading

Market Update 19th - 26th February 2019

Welcome back to another Australian crypto market update.

Plenty of volatility again this week. Some are pointing to the scheduled Ethereum hard fork (read more here about how it may affect your trading on IR) as the main driver in prices over the past couple of weeks. I'm not sure if I'm convinced, but there hasn't been any other obvious news piece to explain the rally. Nor was there a catalyst for the sell off we saw on Sunday. I think market participants are back and whilst volumes are still relatively thin, it doesn't take a lot to move prices around. I see this volatility as a positive sign that life blood is finally returning to our market.

 

In Markets

Volatile price action

To give you an idea, at one point ETH was up ~19%, only for it to aggressively sell off on Sunday night and close -7% down for the week. It wasn't just ETH, most of the market got crushed. BTC fell ~10%, wiping its weekly gains and closing flat for the week. XRP perhaps saw the biggest swings this week, rallying 4% during the week before it too crashed ~10%… click for more

Well endowed Uni funds up investment as Huobi Aus pulls out


Crypto spring? Trade volumes heat up whilst JP Morgan backs Blockchain

22 Feb 2019 07:00
Marcus Ochmann – Head of OTC Trading

Market Update 12th - 19th February 2019

Welcome back to another Australian crypto market update.

Volumes are back! This week we saw more volume on IR exchange and the OTC desk since the post BCH hardfork volatility last November. It wasn't only IR seeing the flow. Bitmex churned through $US3billion (AUD$4.2 billion) in volume over the past 24 hrs. Triple what was trading this time last week. BitMex suggested in a recent blog post that their annual trading volume was close to US$1trillion.

Whilst there has been some positive news flow this week, nothing stands out as a clear driver for the recent rally. However, we did notice one thing leading up to last night's rally. Someone has been buying a TON of Bitmex BTC/USD perpetual swaps in sizable US$10million dollar chunks. The rally seems to have stirred up some FOMO flow, and we have seen plenty of additional buying interest through our OTC trading desk.

In Markets

Sea of green this week. Out of the tokens we list, ETH was… click for more

Crypto spring? Trade volumes heat up whilst JP Morgan backs Blockchain


Mt Gox Dumpening outshone by Mimblewimble prospects

12 Feb 2019 07:00
Marcus Ochmann – Head of OTC Trading

Market Update - 12th Feb

Welcome back to another Australian crypto market update. Whilst trading volumes remain low, some stats out of US research house Diar report that the number of Bitcoin transactions last month hit a one-year high. They suggest that the number of Bitcoin transactions are increasing exponentially, approaching 2017 boom time levels. However, the size and overall USD value of transactions are getting smaller.

The report doesn't shed any light into why this is, but to me this hints at a growth in adoption. Smaller transactions could point to an increased use in crypto retail purchases. Almost all Brisbane airport merchants accept bitcoin now. Another possibility is an uptake in the micro investment space, with new user friendly offerings such as Aussie startup Amber coming online. A further reason could be the growing Lightning network activity, with smaller amounts being committed and settled from lightning channels.

 

In Markets

LTC was the best performer this week, rallying 30% on Friday with the Mimblewimble announcement. Yes that's right, Mimblewimble, just in case a new crypto protocol wasn't geeky enough, let's add some Harry Potter to it. More on this later. This news pulled the rest of the market higher, with ETH… click for more

Mt Gox Dumpening outshone by Mimblewimble prospects


Crypto Insurance comes to Aus, SWIFT partners with XRP

5 Feb 2019 07:00
Marcus Ochmann – Head of OTC Trading

Market Update - 05 Feb

Welcome back to another Australian crypto market update. It’s been a busy week at IR. On Monday we launched our new insurance product, something that has been 5 years in the making. A lot of time was spent with regulators, auditors and insurance underwriters to bring a product that only a handful of crypto firms can offer globally. It makes a significant statement to the rest of the financial industry that crypto is a now bona fide asset class. Top tier auditors and the biggest insurance underwriter in the world not only acknowledge crypto but are offering their services to well governed firms in this space.

As a client of IR this means that you now have the option of additional peace of mind when trading and storing your crypto assets on the Independent Reserve exchange. To read more about our insurance offerings and trading fee discounts, see our Premium Account plans page.

 

Now back to markets

The crypto selloff we saw two weeks ago which happened to coincide with the Fed hiking rates and a subsequent tandem fall in equities seems to have been just a coincidence. Rate forecasts have since… click for more

Crypto Insurance comes to Aus, SWIFT partners with XRP


Celebrating moon action and 2019 the year of the Security token?

29 Jan 2019 07:00
Marcus Ochmann – Head of OTC Trading

Market Update 22nd - 29th January 2019

Welcome back to another Australian crypto market update.

After a reasonably stable start, we saw another weekend selloff which placed most coins in the red at the close of the week. Bitcoin was down 3%, XRP and ETH down almost 9% and OMG, our worst performer for the week, down 12.5%.

It's unclear what triggered the sell off. However, a paper released around the same time from the BIS couldn't have helped. The paper spends much of its time critiquing Proof-Of-Work consensus mechanisms, with a focus on Bitcoin. It points to a well known, heavily debated issue, that as mining block rewards taper, transaction fees alone will not be enough to incentivise a secure network, rather it would drive bad actors to initiate 51% attacks. The paper is very much casting an opinion of the Bitcoin network ~121+ years down the track, and assumes that the network will be as is today. In crypto it's hard to predict what's happening next month let alone in over a hundred years time. Assumptions aside the paper is a decent read and makes for some interesting points.

 

In Headlines

VanEck ETF on ice pending SEC discussions

CBOE Global Markets has temporarily pulled… click for more

Celebrating moon action and 2019 the year of the Security token?


CZ says crypto market undervalued

23 Jan 2019 07:00
Marcus Ochmann – Head of OTC Trading

Market Update - 23 Jan

Welcome back to another Australian crypto market update.

In what would otherwise be a quiet week in crypto markets, we did see a bit of price volatility over the weekend. We saw a sharp gap up in prices on Saturday, some sideways trading, followed by a sharp drop on Sunday afternoon. From a Technical Analysis perspective it was a classic Bart Simpson retracement. I was surprised to learn that is actually a thing...

Simpsons aside, the market was fairly stable this week. It seems to have found support around these levels for the time being.

Bitcoin price movement over the weekend

 

In Headlines

Binance Blockchain week in Singapore this week

From all reports the conference was less Consensys 2017 style Lambo-Moon fanfare and more serious blockchain teams rubbing shoulders and getting stuck into current topics such as Security token regulation and POW/POS hybrids. A hackathon to improve overall crypto trading security was held with a prize pool of USD$100k handed out in Binance tokens. CEO Changpeng, or CZ, stated in an address that he believes the current bear market has overextended and current market prices are undervalued. He also announced his charity, The Blockchain Charity… click for more

CZ says crypto market undervalued