Coinjar Launches Cryptocurrency Exchange Supporting AUD Pairings

May 25, 2018
61 Views

Coinjar has announced the launch of a cryptocurrency exchange that will exclusively offer AUD currency for fiat pairings. The exchange currently offers AUD and BTC pairings for bitcoin, Ethereum, Litecoin, and Ripple.

Also Read: US Justice Department Investigates Price Manipulation in Bitcoin Market

Coinjar Launches New Australian Cryptocurrency Exchange

Australian-founded cryptocurrency company Coinjar has announced that it has launched a cryptocurrency exchange exclusively offering fiat pairings in AUD.

Coinjar exchange currently provides support for BTC, ETH, LTC, and XRP pairings. In addition to AUD pairings, all supported altcoins are available to trade against BTC also.

The company is offering tiered accounts to users, with free accounts being charged a 1% fee for both orders that make and take liquidity from the order books. ‘Trader’ and ‘Premium’ accounts are also available for $500 AUD and $5000 AUD annually respectively – offering significantly discounted trading fees in addition to enhanced support services. ‘Institutional’ accounts are also available to traders who are able to make a volume commitment.

With regards to storage and security, Coinjar claims to store “At least 90% of our customers’ digital currencies […] offline in geographically redundant secure locations,” adding that “Wherever practicable, we also use multi-sig technology to protect digital assets that must be stored online.”

AUD Markets Lacking Major Exchanges

In recent weeks, Coinjar was announced as a finalist for Fintech Australia’s ‘Excellence in Digital Currencies/Wallets/Exchanges’ award – an award to be given as part of the not-for-profit organization’s 2018 Finnie awards.

According to Cryptocompare, the AUD bitcoin markets are highly centralized – with approximately 91.5% of trade 24-hour trade occurring on BTCMarkets. The second most active exchange is peer-to-peer trading platform Localbitcoins – with accounts for a further 4.75% of trading volume.

As of this writing, Cryptocompare estimates the AUD markets to the be the 15th largest fiat pairing against BTC by trading volume, with a 24-hour trading volume 288.4 BTC – or 0.05% of global trade.

As per Australia’s regulations, Coinjar is registered with the Australian Transaction Reports and Analysis Centre.

Do you think that Coinjar will be able to rival BTCMarkets’ apparent dominance of the AUD/BTC markets? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Coinjar


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post Coinjar Launches Cryptocurrency Exchange Supporting AUD Pairings appeared first on Bitcoin News.

You may be interested

eToro Adds IOTA, Brings Number of Available Crypto Assets to 12
Crypto News
Crypto News

eToro Adds IOTA, Brings Number of Available Crypto Assets to 12

btcethereumadmin - August 21, 2018

eToro, a global trading and investment platform, has announced the addition of IOTA to its list of crypto assets, bringing…

eToro to Pay for Major UK Soccer Sponsorship Deal With Bitcoin
Crypto News
Crypto News

eToro to Pay for Major UK Soccer Sponsorship Deal With Bitcoin

btcethereumadmin - August 21, 2018

Online investment platform eToro has inked a deal that will see it pay with bitcoin to sponsor teams within the…

Rally Ahead? Bitcoin’s Price May Be Charting a Previous Bull Pattern
Bitcoin
3 views
Bitcoin
3 views

Rally Ahead? Bitcoin’s Price May Be Charting a Previous Bull Pattern

btcethereumadmin - August 21, 2018

History often has a way of repeating itself. The current price pattern in the bitcoin market is eerily similar to the one…

Leave a Comment

Your email address will not be published.