Invest
Crypto player diversifies funding as market, regulation changes
An Australian digital currency exchange is shaking up its funding streams, as cryptocurrency comes down from a popular but volatile run in the last two years.
Crypto player diversifies funding as market, regulation changes
An Australian digital currency exchange is shaking up its funding streams, as cryptocurrency comes down from a popular but volatile run in the last two years.
Bit Trade has opened its doors to investors through a crowdfunding campaign. The exchange, which has had a total of 50,000 registrations since its inception in 2013, hopes to achieve $3 million through this investment funding.
According to a study by Accenture, $5.9 billion in digital currencies was traded by Australian investors last year.
ASX figures collected over the same period corresponded with this, with 65 per cent of Australian investors found to use online trading platforms over the past 12 months.
The appeal of cryptocurrencies seems to connect with younger generation investors most, with 71 per cent of digital currency traders in Australia under the age of 40 and the overall proportion of Australian investors between 18 to 24 increasing by 10 per cent over the past five years, largely attributed to the alternative asset class, according to data supplied by Bit Trade.
Regulatory radar
However, cryptocurrencies have been on the radar of the Australian Taxation Office of late, as many investors have professed confusion regarding their tax obligations on capital gains.
As we are in the midst of tax season, the ATO has announced it is cracking down on investors who deliberately avoid meeting these obligations and will not consider confusion around the issue as a suitable defence.
The ATO has promised to use its existing and standard processes to investigate ‘unexplained wealth’ that may be delivered through cryptocurrency investments, and said it will continue to review and update its guidance related to digital currencies going forward.
The Tax Office and related agencies have issued guidance on cryptocurrency, covering an individual's tax obligations. You can access them here:
- Tax treatment of cryptocurrency, specifically bitcoin
- Information for digital currency exchange providers
Mutual funds
RAIZ v Spaceship: Which is better value?
Raiz and Spaceship have become the two biggest apps in the micro-investing space, but which offers a better deal for Aussie investors looking for a hands-off savings strategy? ...Read more
Mutual funds
Sold your stocks during the dip last year? Here’s how much it might have cost you
If you cashed out during last year’s COVID-19 crash, here’s how much it might have cost you. ...Read more
Mutual funds
‘True to label’ warning again given to fund managers: ASIC
Consumers should be wary: Fund managers aren’t doing enough to ensure products are “true to label”, with a number of product names not aligning with underlying assets in those funds. ...Read more
Mutual funds
Move over, mainstream: ESG excels
Responsible investing is proving its worth in the investment game, beating out the total return of the S&P/ASX 300 over the last decade. ...Read more
Mutual funds
ASIC makes frozen funds easier to access
A new relief measure will enable investors suffering hardship to access their investment money even where managed funds have been “frozen” to maintain fund stability through the COVID-19 pandemic....Read more
Mutual funds
Is it time to put a food-style label on investment products?
Much like the food people eat, investors are being told they need to know what they are buying before purchasing exchange-traded products, as many are unaware of the ramifications if they don’t. ...Read more
Mutual funds
Why you should think about ESG investing this World Environment Day
Today marks World Environment Day, with experts using the occasion to flag how Aussies can benefit by investing in a way that helps the planet. ...Read more
Mutual funds
Is a model portfolio the way to go during a downturn?
The use of model portfolios – a type of managed account – can provide investors with a range of benefits during a downturn such as the COVID-19 crisis, an investment expert has touted. ...Read more
Wrapping up an eventful 2021
Listen now
What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now
Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now
Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now
Mutual funds
RAIZ v Spaceship: Which is better value?
Raiz and Spaceship have become the two biggest apps in the micro-investing space, but which offers a better deal for Aussie investors looking for a hands-off savings strategy? ...Read more
Mutual funds
Sold your stocks during the dip last year? Here’s how much it might have cost you
If you cashed out during last year’s COVID-19 crash, here’s how much it might have cost you. ...Read more
Mutual funds
‘True to label’ warning again given to fund managers: ASIC
Consumers should be wary: Fund managers aren’t doing enough to ensure products are “true to label”, with a number of product names not aligning with underlying assets in those funds. ...Read more
Mutual funds
Move over, mainstream: ESG excels
Responsible investing is proving its worth in the investment game, beating out the total return of the S&P/ASX 300 over the last decade. ...Read more
Mutual funds
ASIC makes frozen funds easier to access
A new relief measure will enable investors suffering hardship to access their investment money even where managed funds have been “frozen” to maintain fund stability through the COVID-19 pandemic....Read more
Mutual funds
Is it time to put a food-style label on investment products?
Much like the food people eat, investors are being told they need to know what they are buying before purchasing exchange-traded products, as many are unaware of the ramifications if they don’t. ...Read more
Mutual funds
Why you should think about ESG investing this World Environment Day
Today marks World Environment Day, with experts using the occasion to flag how Aussies can benefit by investing in a way that helps the planet. ...Read more
Mutual funds
Is a model portfolio the way to go during a downturn?
The use of model portfolios – a type of managed account – can provide investors with a range of benefits during a downturn such as the COVID-19 crisis, an investment expert has touted. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
