Coinjar Launches the Crypto Exchange to Support the AUD Fiat PairingsMay 27, 2018
Coinjar had announced their launching for the new Australian cryptocurrency exchange, which will exclusively offer the uses an AUD currency fiat pairing. Currently, the exchange is offering an AUD and BTC pairings for the leading cryptos such as Bitcoin, Ripple, and Litecoin.
The cryptocurrency company, which is founded in Australia named Coinjar, has made their announcement that they have launched their crypto exchange to exclusively offer the user a fiat pairing in AUD. The company currently offers support for other cryptocurrency pairings for the leading digital currencies such as BTC, LTC, ETC, and XRP. In addition to the AUD fiat pairing, all of the supported altcoins, as well, available to trade against Bitcoin.
Coinjar offers a tiered account to its users with the free accounts charged a fee of only one percent for both orders, which make liquidity from order books. The accounts like “Trader” and “Premium” are also available for the users for only 500 AUD and AUD 5000 respectively every year. It offers a significantly discounted trading fee, in addition to the improved support service. Also, the accounts for the “Institutional” category are available to the traders who can make volume commitments.
When it comes to the security and storage, the company claims to store at least ninety percent of the customers’ digital currencies in offline in a geographically redundant and secure location. They also added that whenever practicable, they will use a multi-sig technology in order to give the customer’s digital assets sustainable protection –particularly the assets being stored online.
In the previous weeks, the company has been announced as the finalist for the award for Finetech Australia’s Excellence in Digital Currencies/Wallets/Exchanges. It is an award given to the companies and organizations as part of the 2018 Finnie awards.
According to the Cryptocompare, the market of AUD bitcoin is highly centralized with the approximate percentage of 91.5% trades for 24 hours on the BTCMarkets. The following most active exchange is the Localbitcoins, a peer-to-peer platform for trading is that has accounted for further 4.75% trading volumes.
With this, the Cryptocompare had estimated that the AUD markets are the 15th largest fiat pairing on BTC by a trading volume. It has 42-hour trading volume of 288.4 BTC or a 0.05% of the global trade. As per regulations of the country, Coinjar is a registered company with Australian Transaction Reports and Analysis Centre.