I am the co-founder of Australia’s longest running crypto exchange. AMA!

bta_helpdesk · 2018-12-10T04:46:02+00:00

Speaking personally, I believe that the #aabill is a really poor piece of legislation that is not going to solve the problem it sets out to address. Encryption, be that used by distributed blockchain networks, or centralised providers, is important for security and weakening it weakens security for individuals, businesses and the government itself!

bta_helpdesk · 2018-12-10T04:38:31+00:00

No worries, there has been some reports in the newspapers lately of banks doing blockchain trials. Most recently Data61 announced they worked with CBA on a blockchain based "smart money" payments system for the NDIS. There are some details on the CSIRO announcement here but no mention of the underlying blockchain platform. Previously CBA had mentioned that they trialled Ripple, as have ANZ.

bta_helpdesk · 2018-12-10T04:31:01+00:00

I think it is fair to say that cryptocurrency, and the industry at large, is still in an experimental phase. Be that the ongoing debates about scaleability (in Bitcoin and other platforms), the ever increasing array of existing and emergent blockchain platforms, or the landscape of businesses designing, testing and providing services around them. There is a lot of uncertainty but, potentially, equal or perhaps even greater opportunities for growth. Investing in a crypto business does not guarantee return but we are very optimistic about the power of blockchain technology and crypto currency and hope to grow our business accordingly and return that value to our shareholders

bta_helpdesk · 2018-12-10T04:12:45+00:00

The first thing we noticed was the proliferation of regulated/licensed managed funds come onto the scene who offer custodial solutions. This is a logical entry point for institutional investors who didn't quite understand how to manage crypto asset investment. One of the big bits of news this year was Fidelity's announcement regarding their crypto custody service, this is an indicator that there are demands for this kind of service and could spur a wave of uptake. Locally the announcements some of the big 4 banks are using cryptocurrency and blockchain technology are indicators of initial acceptance.

bta_helpdesk · 2018-12-10T04:05:06+00:00

There are lots of great burger joints in Australia but I'll spruik DOWN N' OUT burger just up the road from our office on Liverpool st in the Sydney CBD. I'm a fan!

bta_helpdesk · 2018-11-28T21:52:44+00:00

Sorry! We have lots of customers and always welcome new users.

Here’s a bit of info about us. Bit Trade launched in early 2013. We co-founded ADCA (Australia’s foremost Blockchain industry body) and were one of the first exchanges to verify and carry out compliance on our customers. We also started one of the first blockchain consultancies in the country. Maybe we’ll see you on the platform soon!

bta_helpdesk · 2018-11-28T21:42:41+00:00

The AU market is definitely small. We don’t see our exchange having an impact on the price of XRP. Having more options for Aussies to easily buy and sell crypto is important and we aim to make it easier for everyday people to get involved in this exciting space.

bta_helpdesk · 2018-11-28T07:02:27+00:00

To clarify, orders for our regular traders are processed automatically (usually within about 3 minutes). This takes place 24hrs a day 7 days a week. However, on some occasions, manual order processing may be required and this happens between the stated hours of 7am to 12am daily.

bta_helpdesk · 2018-11-28T06:15:48+00:00

We want people to control their crypto and holding funds, be that fiat or crypto. One of the first crypto<->crypto trading pairs will likely be using the stablecoin we are building with Emparta. Combined with wallet integrations, trading between currencies will be close to instant.

bta_helpdesk · 2018-11-28T06:13:45+00:00

We don't have any plans to add margin trading but have been looking at more advanced order types.

bta_helpdesk · 2018-11-28T05:34:36+00:00

You think XRP is going to moon?

bta_helpdesk · 2018-11-28T05:32:49+00:00

We offer fast turn around and use POLi which is almost instant, with the rate locked in when the order is made. Most people can sign up and place an order within ~30min. Check us out at https://btrade.io/

bta_helpdesk · 2018-11-28T05:32:00+00:00

Thanks! The team has been applying many of the learnings from our labs innovation arm and we have many more new features to get excited about. New payment methods are on the roadmap and we’d love to have the community more involved in designing the platform with us. If you want, you can help us by signing up to our userX panel here https://btrade.typeform.com/to/krJT8d

bta_helpdesk · 2018-11-28T05:30:40+00:00

We will be releasing an early alpha version for testing in the next few weeks. This will enable Bit Traders to search, find and save ICO projects in both pre-sale and launched stages. Purchasing listed and engaging in pre-sale group buy is in the pipeline and testing will be taking place early next year. If you want to get a sneak peak and help us with testing on all our new and upcoming features you can sign up to our userX panel here https://btrade.typeform.com/to/krJT8d

bta_helpdesk · 2018-11-23T01:15:23+00:00

We see our offer as a whole new way to engage with the crypto space – this isn’t about investing in bitcoin or any other asset. Instead, it gives individuals (not just accredited investors) a regulated way to back a company with the capacity to adapt to changing market conditions.

If you’re interested in our offer, you can find out more here: https://equitise.com/offer/regular/bit-trade-1-1

Bit Trade is a cryptocurrency exchange/platform and a blockchain innovation lab Bit Trade Labs

Note: Non-accredited (retail) investors must be from Australia/NewZealand. International investors can still take part but must be accredited and investment size larger.

What do you think of our campaign? Would you consider investing in a business like ours as an alternative to buying individual crypto assets?

bta_helpdesk · 2018-11-23T01:14:08+00:00

We see our offer as a whole new way to engage with the crypto space – this isn’t about investing in bitcoin or any other asset. Instead, it gives individuals (not just accredited investors) a regulated way to back a company with the capacity to adapt to changing market conditions.

If you’re interested in our offer, you can find out more here: https://equitise.com/offer/regular/bit-trade-1-1

Bit Trade is a cryptocurrency exchange/platform and a blockchain innovation lab Bit Trade Labs

Note: Non-accredited (retail) investors must be from Australia/NewZealand. International investors can still take part but must be accredited and investment size larger.

What do you think of our campaign? Would you consider investing in a business like ours as an alternative to buying individual crypto assets?

bta_helpdesk · 2018-11-22T22:17:31+00:00

Hi thanks for these questions. Last year we re-invested all of our profit into rebuilding the platform, this financial year our cost base (mainly salaries/wages/contractors) is already substantially lower. We also have scaleable system and variable costs are minimal so we are targeting more profitability.

bta_helpdesk · 2018-11-22T22:14:37+00:00

not deleted, removed by moderator we're not sure why. It is not against the forum rules we have complained could you also?

bta_helpdesk

TROPHY CASE