Two major Australian bitcoin exchanges - CoinLoft and CoinTree, have announced that ether, the cryptocurrency token of the Ethereum network, will now be available for purchasing on the platforms. In an announcement yesterday via a press release, leading Australian bitcoin exchange CoinTree revealed that users…
Two major Australian bitcoin exchanges – CoinLoft and CoinTree, have announced that ether, the cryptocurrency token of the Ethereum network, will now be available for purchasing on the platforms.
In an announcement yesterday via a press release, leading Australian bitcoin exchange CoinTree revealed that users will – effective immediately – be able to swap bitcoin for a number of varying altcoins including ether, litecoin and DAO tokens.
CoinTree co-founder Shane Stevenson said the following in a statement:
While we continue to focus our efforts and support on bitcoin, we strive to lower entry barriers for all Australians interested in cryptocurrencies and are excited to announce this simplified service for buying altcoins.
The backing and usage of major global enterprises and establishments including the likes of Microsoft and the private banking blockchain consortium led by R3, sees an increased interest in Ethereum, particularly its smart contract technology. This has resulted in a staggering rise in the value of ethers since the turn of the year and digital exchanges around the world have begun offering ether support.
In its blog, Melbourne-based bitcoin exchange CoinLoft also announced ether support, starting yesterday. It stated:
Ethereum is an exciting project with great potential in the area of smart contracts. ETH has been getting a lot of attention in recent months and we are proud to offer our customers this option.
In the past, Australian bitcoin businesses including exchanges seen closures of their bank accounts by major Australian banks, a stance that led to an investigation by the Australian Competition and Consumer Commission into Such anti-competitive behavior. The investigation eventually concluded this year, clearing the banks of colluding against bitcoin companies.
In recent times, the Australian government has markedly displayed a friendlier stance toward bitcoin and digital currencies. In March 2016, the government revealed that it was “committed” to removing the double taxation of bitcoin. In May, the government followed up on its initial word by pledging changes that “will ensure that consumers are no longer ‘double taxed’ when using digital currencies.”
Featured image from Ethereum.
Last modified: January 25, 2020 11:48 PM UTC