Technologies of interest

Thank you for voting. We received more votes than anticipated.

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26613 duplicate votes were found leaving 11437 unique (real) votes.

The totals are shown below:

6709 NEM
4022 NEO
581 IOTA
108 OmiseGo
14 ZCASH
6 USDt

We find all of the technologies extremely promising and this poll was not intended to cause competition between camps. Once again, thank you for taking part in the poll.

 

Sincerely,

BTC Markets Support Team

 

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BTC Markets to add ‘The’ DAO’ tokens to it’s platform

BTC Markets is pleased to announce support for ‘The DAO’ tokens on the 28th of May: the same day that the creation phase of ‘The DAO’ ends. The platform will initially go live with ETH/DAO and BTC/DAO markets. After the creation phase it’s possible for token holders to transfer ownership and deposit tokens onto BTC Markets for trade. This will place BTC Markets as one of the first exchanges in the world to add support for ‘The DAO’ tokens.

What is ‘The DAO’?
Built on Ethereum, ‘The DAO’ is a for-profit Distributed Autonomous Organization that utilises crowd wisdom to benefit it’s owners (token holders). Unlike traditional companies that have a delegated management structure, The DAO operates through collective voting, and it’s controlled by anyone who has purchased a token. In addition to it’s token holders, there is group of Curators that can be voted in or out. The aim of ‘The DAO’ is to use the equity it controls to support projects that will provide a return on investment or benefit to the DAO and its members, and benefit the decentralized ecosystem as a whole.

 

The BTC Markets Team

 

How the Bitcoin Australian Tax Office guidance affects BTC Markets

In August the Australian Tax Office (ATO) released a guidance paper on the tax treatment of Bitcoin transactions and other cryptocurrencies. We have provided answers to some commonly asked questions.

Will BTC Markets be adding 10% to the total value of each trade?

The primary business of BTC Markets is to provide an exchange platform for users to buy and sell Bitcoins off each other. BTC Markets does not buy nor sell Bitcoins in its own right therefore we are not liable to collect GST on the value of Bitcoins traded on our marketplace.

I have a business account do I have to pay GST?

Businesses who purchase Bitcoins through our marketplace may be liable to pay GST on the full value of bitcoins when they are sold. These businesses may also be entitled to claim GST on this purchase. Businesses are recommended to seek their own independent tax advise.

Is BTC Markets going to collect GST on trading fees?

BTC Markets will soon be collecting GST on trading fees for Australian traders. Please be advised this is just on the trading fees and not on total trade value. Below is an example only of 1 Bitcoin traded with a value of $1000 and a trading fee of 0.935% inc GST.

Trading Fee: $8.50
GST:  $0.85
—————————
Total inc GST:  $9.35
————————–

I’m an international trader do I have to pay GST?

If you are from outside of Australia your trading fee will not include GST.

Will BTC Markets issue tax invoices?

In the near future BTC Markets will issue tax invoices when it’s required and when requested.

 

Please note the information provided above is general in nature and does not take into consideration your personal financial situation. It is for educational purposes only and does not constitute formal financial advice. Remember, the value of any investment can go down as well as up. Before acting, you should consider seeking independent personal financial advice that is tailored to your needs.

 

Best Regards,

The BTC Markets Team

 

 

New trading pair – BTC/LTC

BTC/LTC Trading Pair Introduced
BTC Markets is pleased to announce the launch of our first crypto only trading pair BTC/LTC. This provides the foundation for supporting future alternative digital currencies.

International Support
The site now supports international users through Bitcoin and Litecoin trading and AUD international wire withdrawals

Other Updates
Withdrawal forms now show available balances.
Improved verification procedures to improve fraud prevention.
Added email notifications to assist with verification process.
Improved content across the site.

Best Regards,

The BTC Markets Team

 

 

Reduced fees, improved trading & more

Our team is pleased to announce the following new features.

Reduced Trading Fee
Our trading fee now starts from 0.85% and can drop to 0.1% for high volume traders. Please see our fee schedule for details. It’s based on your 30 day volume so your trading fee may have already have been reduced. You can check your current fee by entering some volume on the Buy/Sell page.  If you already have a reduced fee, the reduced volume fee will only apply if it’s lower.

Trading Area Enhancements
Spend all and sell all functions have been added to the trading area – no more calculators required for working out fees.  Fees are also displayed more clearly. The layout has also been enhanced to separate the buy and sell forms to make it easier to trade.

BTC & LTC Deposits
BTC & LTC deposits will now be credited upon 3 confirmations on the blockchain.

Refer a Friend
Only a few days left to refer a friend and get your trading fee reduced to 0.5%.  The last day to take advantage is this Saturday the 31st of May.

Best Regards,

The BTC Markets Team

 

 

Recent Website Updates

Today our team deployed the following changes to the site:

  • New login page
  • Main menu navigation changes to make the site more accessible through consistent menu options
  • Added a comprehensive FAQ area to answer common questions
  • AML / CTF / Fraud policy updated
  • News area has had some UI changes to more match the website and the addition of a twitter feed of market news.
  • Increased form validation and context sensitive help across the site

International Support – Coming Soon!
We intend to add support for international bank wire deposits that will be converted into AUD, international bank wire withdrawals in most currencies, and international verification. It is anticipated the increased customer reach will encourage a lot more trade on our exchange and in turn provide better pricing for all of our customers. Details will be published to the site when this service goes live.

Volume Discount – Coming Soon!
We are working on a more competitive volume discount and base fee that will make our exchange fees more competitive internationally and also for Australia. For those that already have a reduced rate it will only impact you if your rate drops even lower as a result of your trade volume.  The greater your volume, the greater your fee reduction.

Main Trading Area Improvements – Coming Soon!
We plan to improve trading area and add an auto purchase feature (to make it easier to spend all of your AUD, and sell all of your BTC / LTC). We will also reduce blockchain confirmations for deposits to 3 so people do not have wait as long.

Refer a friend
Don’t forget to refer a friend if you can. With many participating in the refer a friend scheme we have seen a large number of sign ups over the last few days. Thanks to our customers who have made some referrals you can now enjoy 0.5% trading fees. If you are still yet to take advantage of this offer you should hurry as this promotion ends on the 31st of May.

If you don’t have any friends who trade, please don’t feel left out as our volume discount will soon go live. As always, we hope you enjoy the changes as most are in response to our customer feedback. Please let us know what you think!

Best Regards,

The BTC Markets Team