CoinJar unveils new cryptocurrency app for Australians
Is cryptocurrency getting more like neobanking?
CoinJar has unveiled a new mobile app, designed to make it easier to buy, sell and manage cryptocurrency portfolios, and make it more accessible for a broader audience.
"The cryptocurrency market is no longer the domain of early adopters and technophiles; it is a maturing market and today we have a broad audience looking to buy, sell, hold and trade cryptocurrency," CoinJar CEO Asher Tan says.
"While you can still buy lunch and exchange digital currency for cash, most Australians now treat digital currencies as investments similar to gold or shares," he explained.
"The truth is that it's a whole new category with properties that enable both exchange and investment of the asset."
"Australians are increasingly priced out of the housing market and are disappointed in performance with traditional shares, and so are turning to digital currency as assets," Tan says.
But even though cryptocurrency is still regarded primarily as an alternative investment by most people, Tan also sees this changing in the future, and envisions a future where Australians need neobank-like cryptocurrency accounts.
“It is only a matter of time before it will be used beyond investing, and just like fiat currency, Australians will need their own digital currency accounts."
"Standout features of the mobile app include real-time price charts, daily and threshold price alerts, fast buying and selling, transparent transaction history, multiple wallet management and in-house support."
Also bringing it more in line with the banking experience people are used to, the app can work with CoinJar's cryptocurrency debit card, which can essentially be loaded with cryptocurrency, which can then be spent or converted to fiat anywhere that accepts EFTPOS.
“Our new platform works in tandem with our cryptocurrency debit card CoinJar Swipe which is fee-free, avoiding an industry standard 1% conversion fee, to make it the most efficient and cost-effective off-ramp to turn crypto in cash in Australia," Tan says.
To help them both work together, CoinJar is currently offering free Swipe crypto cards when ordered through the new app.
Disclosure: The author holds BNB, BTC at the time of writing.