The UK's financial authority has published an official warning to users that Poloniex is not operating under regulation.
Australian based myCryptoWallet will soon add more than 50 new tokens for trading, as well as implementing a zero fee rate.
Based in Melbourne, myCryptoWallet offers services such as fiat deposit and withdrawals, a peer-to-peer marketplace and exchange between Australian, New Zealand and digital currencies. In addition to customer services, myCryptoWallet allows investors to control over their investments in the online marketplace.
The why behind myCryptoWallet zero fee trading
myCryptoWallet CEO Jaryd Koenigsmann has a vision in mind for the exchange, saying:
“We want to give cryptocurrency traders and enthusiasts the best trading experience. Some of the fees exchanges charge are through the roof, and are a big hit to trading profits. We’re introducing zero fee trades to make the myCryptoWallet trading experience even better and more profitable for our customers.”
Not only has myCryptoWallet added new tokens to the platform, and removed fees, it is also in pursuit of an Australian Stock Exchange-regulated security token offering which will take place through tokenization of its platform.
“Our customers have been telling us they want more trading options and flexibility on our platform, and we’re excited to be adding dozens of new coins in the coming months. These will be handpicked by our team and carefully vetted prior to listing.”
myCryptoCard – transactions Offline
The platform has also just launched myCryptoCard, which means that Australians can now spend their cryptocurrency assets in daily, offline life. The card maintains myCryptoWallet’s zero fees — there are no fees attached to loading, spending or withdrawing.
Koenigsmann believes that the cards are a way forward to see cryptocurrency adoption.
“We’re taking a big step to make cryptocurrency a bigger part of offline daily life. Whether it’s a cup of coffee, groceries or new pair of jeans, Australians can now pay in crypto with the myCryptoCard.”
myCryptoWallet and Australian regulations
Australia is the key focus for the platform, myCryptoWallet firmly believes that cryptocurrency will see a worldwide adoption.
The platform respects Australian regulations, such as strictly adhering to AUSTRAC anti-money laundering and counter-terrorism financing laws, stringent Know Your Customer (KYC) and identification procedures. These procedures are done through VixVERIFY, and through being a member of the Australian Digital Commerce Association (ADCA).
Koenigsmann believes regulation is a starting point for secure, successful integration with fiat:
“Cryptocurrency regulation in Australia is as strong as anywhere in the world – and we’re highly supportive of this as we believe it’s fundamental to the future of digital currencies.”