SelfWealth to add Crypto Trading to its popular platform
SelfWealth will allow access to a cryptocurrency exchange platform, enabling customers to buy and sell cryptocurrency.
Australia’s most popular low-cost share trading platform is undertaking a rigorous selection process to ensure the exchange partner is best suited to the SelfWealth community.
SelfWealth CEO Cath Whitaker said retail investors would be able to buy and sell popular cryptocurrencies in real-time while also trading US equities and CHESS sponsored Australian shares – an Australian first.
“We want to make investing for our customers as seamless as possible. Currently, moving between popular investment types usually requires access to multiple trading platforms and for investors to move money multiple times.”
SelfWealth recently surveyed 3,500 of its 95,000 members and found 30% were already investing in cryptocurrency and 38% were intending to invest.
In addition, a Finder survey of over a thousand Australians in January revealed that one in four Australians (equivalent to five million Australians) currently invest or plan to invest in cryptocurrency.
“Australians have decided that cryptocurrency is here to stay and are looking for trusted platforms to facilitate their investment decisions. We are on track to deliver cryptocurrency exchange functionality by year end.”
Ms Whitaker said SelfWealth has an ambitious product roadmap that will see the platform expand into a wealth creation platform that lets retail investors educate themselves on, and invest in, many different asset classes.
“SelfWealth remains intent on providing an easy to use, low cost, high value, wealth creation platform for all Australians to use. We will build without gimmicks and provide investors independent but credible content and information.”
Australian owned and operated SelfWealth was founded in 2012, listing on the ASX in late 2017. It was the first platform to offer low-cost and flat fee share trading in Australia, at $9.50 per trade while still providing the security of direct share ownership through CHESS sponsored trading.
SelfWealth has more than 95,000 active retail investors and assets under administration of more than $6 billion, making it the second-largest non-bank share trading platform in Australia.