ASX-listed Australian online broker SelfWealth has announced the addition of digital asset buying and selling capabilities to the platform.
We're excited to announce SelfWealth will add #crypto #investing as we make the transition from a #share #trading platform to a wealth creation platform. Learn all about our plans here!
According to SelfWealth CEO Kat Whitaker, the platform will be the first in Australia to offer share and cryptocurrency trading 'in one place'.
Serving 95,000 active customers, the company is in talks with bitcoin exchanges to implement the initiative. The combined value of the securities held on SelfWealth is A$5.9 billion (~$4.4 billion), according to the Australian Financial Review.
The company plans to add ten cryptocurrencies, including bitcoin and Ethereum, by the end of the year. These will be stored in a partner wallet integrated with the platform. Transaction fees have not been specified.
According to surveys, two-thirds of SelfWealth customers own or plan to buy digital assets.
Recall, according to a June survey by the Kraken exchange, one in five Australians thought investing in bitcoin was more profitable than traditional savings.
Independent Reserve previously found that at the end of 2020, more than 90% of Australians had heard of at least one digital asset and around 20% had invested in cryptocurrencies.
If you're going to buy and store Ripple, it's best to research the different wallet options available before making a decision. In 2021, there are more Ripple wallets.