SelfWealth – a brokerage company – will operate as the earliest in the country to provide the native citizens with crypto trading services. They will be permitted to trade crypto along with ASX, US, as well as Singaporean securities in one place.

The already present clients would not be required to initiate the latest accounts however will just witness some slight interface modifications. To provide the respective service, a contract has been inked by SelfWealth with BTC Markets, known to be among the longest-running crypto exchanges across Australia.

Bringing convenience in crypto investments

Consumers will be allowed to trade five crypto assets from 2022’s second quarter, as stated by the BTC Markets’ CEO Caroline Bowlers. She added, nonetheless, the approval from the AUSTRAC (the financial regulator of Australia) is pending up till now. In the meantime, Cath Whitaker (the CEO of SelfWealth) mentioned that the target of the platform is to significantly evolve crypto investment. At present, she mentioned, shifting among prominent investment types normally demands access to several trading venues and for the customers to shift funds many times.

The platform’s easy-to-use nature, as well as the reduced charges, allures a large number of new investors into the world of crypto, notwithstanding the recent price plunges. In her words, it is a suitable occasion to initiate the respective services as the nature of Bitcoin is that of a speculative asset. Bowlers also revealed that everyone who has been engaged with crypto during the previous five years knows about the cyclic nature of this industry.

Moreover, SelfWealth will provide educational instruments for newly coming investors in the digital asset industry. Specifically, it was highlighted by Whitaker that the firm is open to risk as well as disclosure. The CEO moved on to express that there is a lot of volatility in crypto investment, thus while becoming a part of the trend, investors might witness a thrill in investments. Nevertheless, the industry is just risky when it has a deficiency in transparency.

Australians embrace crypto

As per SelfWealth, the platform determined to launch crypto services after it found that up to 30% of the members thereof were in advance involved in trading these assets. Indeed, there are nearly 800,000 investors of crypto across the country. Additionally, the primary tax authority of Australia brought out that in 2021 up to 100,000 residents recompensed taxes over crypto gains.