However, recently something is threatening to burst this bubble. Lately, more and more national and global financial institutions are pushing toward stricter regulation on these types of transactions. Banks and governments all throughout the world are calling for institutionalization of crypto exchange, in order to avoid it being used for extortion and other felonies.
Naturally, such a move would have to come with higher taxation, making this venue a whole lot less attractive for traders. Nevertheless, there is a right way to achieve this safety measure without hurting the market – and it seems like Australia is walking on that path. Let’s try to understand how Australia has become a haven for cryptocurrency trade, without attracting its negative effects.
The beginning of this love story
Australians had been early adopters of crypto as a means of commerce and investment. The reason for that is quite peculiar. Most global markets are very oriented for European business, timewise. Australia, on the other side of the Earth, has completely different working hours. Cryptos, are traded around the clock, 24/7, making them much more comfortable for business coming from the Land Down Under.
“We, as a global crypto brokerage house, had foreseen this,” remarked Donald Reilly from the world-renowned trading brand InvestingCrypto, “and that’s why we were among the first to offer direct CFD trading on leading cryptocurrencies in Australia. And, of course, it’s not just about Bitcoin. There are thousands of active cryptocurrencies, but the secret is to know which ones are potentially profitable and which are just a bubble waiting to burst.”
Cryptos and banks – financial foes?
While many nations have been – and are still – struggling to define their relationships with the crypto sphere, Australia was one of the first to tackle the issue. All the way back in 2013, before Bitcoin became so pricy, the Reserve Bank of Australia had already shown intentions of embracing and accepting it. On the other hand, rules had been put in place, including policies set to prevent money laundering through crypto trade.
So, we know that the government is not standing in the way. That’s why you can find plenty of crypto trading agencies today, offering exchange service on Bitcoin and other popular tokens. This is good news because it means that there is a competition over the trader’s pocket. One of the more reputed of these brands is InvestingCrypto, which offers cryptocurrency trading services – alongside CFDs of other popular asset classes such as stocks, indices, commodities and forex.
Just by looking at the company’s website, you can tell that they have ample experience. This brand boasts two prestigious trading brand awards for 2020, as well as others in the past. Approximately 30 different cryptocurrencies are currently tradable, on a 24/7 basis, using a proprietary web-based platform (no download required).
With all that in mind, the most important aspect of a trading brand is the service it provides through brokers and support representatives. InvestingCrypto is quoted as providing service via email, direct messaging, phone and even WhatsApp messages, making it ideal for all types of traders.
To sum it up
Given the connection between the Australian people and cryptocurrency investing, along with the favorable regulatory conditions and the trustworthy trading platforms, it can be said that Australia is a gateway to the crypto trade of tomorrow.