Scheduled Maintenance Complete – All systems operational

4 Nov 2018 17:01
Nicholas Fletcher, Customer Experience Officer

Scheduled Maintenance Complete – All systems operational


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

2 Nov 2018 10:29
Nicholas Fletcher, Customer Experience Officer

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


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

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

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

In the Media

Instant deposits are back!

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

Independent Reserve are excited to announce that we have brought back POLi payments for deposits. This will allow you to make an AUD deposit from a supported Australian bank instantly to your Independent Reserve account.  We allow up to $5 000 to be deposited per day, if you go over this limit you will be credited the following business day.  Fees apply.  Note – this does not apply for NZ banks.

Instant deposits are back!


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


ERC20 support and maintenance

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

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

  • OmiseGO (OMG)
  • 0x (ZRX)

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

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

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

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

ERC20 support and maintenance


Ripple XRP release and maintenance

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

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

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

Timing:

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

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

Ripple XRP release and maintenance


Independent Reserve reduces crypto withdrawal fees

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

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

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

Independent Reserve reduces crypto withdrawal fees


First Australian digital currency exchange regulated: Independent Reserve

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

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

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

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

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

First Australian digital currency exchange regulated: Independent Reserve

Industry News

Guide to SMSF investing into Cryptocurrency

6 Aug 2017 12:00
Adrian Przelozny, CEO

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

Guide to SMSF investing into Cryptocurrency


Market Update – 14 Nov 2018

14 Nov 2018 12:28
Winston Su, Marketing Director

In Markets

Bitcoin continued trading within its AU$8,800 – $9,100 trading band for another week now, closing flat for the week at AU$8,840. We did see somewhat of a pull back on Friday around the same time the SEC ruling on EtherDelta was released (see below). ERC20 tokens were hit the hardest. ZRX down over 11%, OMG down ~2.5% for the week. XRP continued to see some choppy price action, rallying more than 21% at the start of the week on the SWIFT rumours (see last week’s market update) before coming off a quite a bit, closing the week up 9.5%.

In Headlines

  • Centre stage this week is the BCH scheduled hard fork, set to take place around 3:40am Sydney time, Nov 16. Almost all major exchanges, with the exception of Poloniex and Bitfinex, are supporting only the BitcoinABC chain, at least initially. There has been plenty of threats from both the ABC and SV camps to weaponise their respective mining pool allies hashpower to not only ascertain hashrate dominance, but also to disrupt the opposing chain by mining empty blocks and dumping the newly mined tokens onto the open market. An extremist vigilante mining pool by the name of Sharkpool has been… click for more

Market Update – 14 Nov 2018


Market Update – 10 Nov 2018

9 Nov 2018 16:24
Winston Su, Marketing Director

It has been a busy week for Independent Reserve. We became the first crypto company to make the Australian Financial Review’s Fast Starters 2018 List. We also became the first and only exchange to feed XBT/AUD prices to Bloomberg and one of only six exchanges globally to feed XBT/USD pricing.  It’s something that has been in the works for quite some time and we are pleased to be contributing to what many reference their crypto pricing to.

In the headlines:

  • Bitcoin Cash has rallied last week (up ~27%) in anticipation of next week’s fork. The hard fork is scheduled for the 15th November.  More on this and how it will effect trading next week here.
  • Bitfinex and Tether announce a new banking relationship with Deltec Bank and Trust. A photograph is doing the rounds that appears to be a letter addressed to Tether from the Bahamas based bank. It states Tether’s account balance of just over USD$1.8billion. This is more than the USDT market cap (~1.765billion). It would be great if this put an end to the Tether scepticism, but alas there are plenty of comments out there questioning the document’s authenticity.
  • Bakkt has announced a launch date for their physically backed Bitcoin… click for more

Market Update – 10 Nov 2018


Market Update – 31 Oct 2018

1 Nov 2018 12:04
Winston Su, Marketing Director

It was another brutal week for equities and the end to a brutal month. The ASX 200 lost ~6% this month, wiping out its yearly gains and then some. It’s down around 4% for the year now. If you had some Bitcoin allocation in your portfolio you would have fared a little better this month with XBT only down 3%. Global Bitcoin volumes remain at 1year lows and the 30day realised volatility is down to early 2017 levels, where it was before the historic rally that drew many of us into this space. More on that later.

What’s been making news

It’s been reported that Bitcoin is now deemed property from a legal standpoint and that it is legal to circulate and use Bitcoin as a form of payment in China.  Given the track record of Chinese policy makers changing their mind all the time I can’t see too many merchants rushing to accept bitcoin as a payment method but it’s certainly a step in the right direction in my opinion.

Bitstamp, the largest digital currency exchange in the EU by volume, was bought by Belgium based investment company NXMH. Deal details are scarce however it is estimated that the deal was worth… click for more

Market Update – 31 Oct 2018


Market Update – 24 Oct 2018

24 Oct 2018 10:49
Winston Su, Marketing Director

After last Monday’s Tether induced price spike, XBT reverted to the range bound trading we have become accustomed to. XBT closed for the week flat at AU$9,020, within the AU$8,900 – AU$9,100 range we have seen for the past few weeks. The most notable move was the 45% ZRX rally on Tuesday/Wednesday which happened after Coinbase listed the token.

Tether/Bitfinex rumours continued to swirl after last week’s temporary USDT unpegging. Despite the USD/USDT spread closing, Bitfinex crypto pairs are still trading at a premium as traders harbour concerns of how robust Bitfinex’s banking relationships are. For traders happy to take the risk, there was at one point a US$200 arb to be had between our IR orderbook and Bitfinex XBT/USD pair.

Despite there being more than enough functioning stable coins in the market, Tether still dominates, enjoying an 98% share of the total stable coins traded on Binance. Despite the troubles Tether faces, it still enjoys the benefit of early establishment and most listed tradable pairs.

A full suite of new stable coins has recently been regulated by the New York Department of Financial Services (NYDFS).  All have appointed auditors to give investors transparency and comfort in what is actually backing the stable… click for more

Market Update – 24 Oct 2018


Market Update – 16 Oct 2018

16 Oct 2018 15:34
Winston Su, Marketing Director

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

News headlines:

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

Market Update – 16 Oct 2018


Market Update – 10 Oct 2018

10 Oct 2018 14:41
Winston Su, Marketing Director

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

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

This week’s headlines:

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

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

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

Market Update – 10 Oct 2018


Market Update – 2 October 2018

2 Oct 2018 17:00
Winston Su, Marketing Director

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

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

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

Market Update – 2 October 2018


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

2 Oct 2018 08:03
Ashkhen Zakharyan

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

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

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

Full story here

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


Independent Reserve ADCA Certification

27 Sep 2018 13:08
Winston Su, Marketing Director

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

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

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

Independent Reserve ADCA Certification


UNICEF France Accepts Donations in 9 Cryptocurrencies

24 Sep 2018 15:48
Ashkhen Zakharyan

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

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

Full story here

UNICEF France Accepts Donations in 9 Cryptocurrencies