Five Commandments For Those New To Bitcoin

Given the year Bitcoin has had, it’s no surprise there’s been a whole lot more interest since it first started. Eight years ago, no one even really knew what cryptocurrency was. You can’t avoid someone mentioning Bitcoin at the pub or dare we say it, your family’s annual Christmas BBQ.

So, if you’ve just decided to jump on the bitcoin bandwagon, welcome – it’s great you’ve finally seen the light. Now sit tight and pay attention before you pay to play.

A new version of CoinJar Touch


We’re proud to bring you a new version of CoinJar Touch! We’ve taken the most requested app features to make using your CoinJar a more seamless digital currency experience. The update is available on the App Store for iOS users. Android users are not far behind and will be receiving the update in the near future.

If you haven’t already downloaded the app, you can get it now:

Download

Top 5 CoinJar FAQs for 2017

CoinJar receives a large number of questions everyday from new and seasoned users of digital currency. In this post, we break down the Top 5 Frequently Asked Questions which will hopefully save you some time looking up the answers on our Knowledge Base.

‘Double GST’ No More

Many in the Australian digital currency ecosystem were pleasantly surprised when in this year’s Budget the Australian Treasurer announced an effective date for the removal of ‘double GST’ on digital currency transactions. Effective 1 July 2017, the purchase of digital currency will no longer be subject to Australian GST. In effect, this will result in digital currency being given the same GST treatment as money.

However, more importantly, this would make Australia only the second country (the first being Japan) in the world to make actual amendments to their tax laws to accommodate digital currencies.

Bitcoin transaction confirmation time and fees

The landscape for Bitcoin continues to intrigue and be unpredictable. This is especially true when it comes to Bitcoin transaction confirmation time and fees. We’ve had a lot of feedback over these past months as transactions sometimes have not been as close to instant (~10 mins) as one may have hoped when sending payments over the Bitcoin network. Industry pioneer, Erik Voorhees sums up these points in his excellent blog post.

How To Receive A Holiday Season Reward

There are some things that are part and parcel of the Australian holiday season: barbeques, hot weather (unless you’re in Melbourne), and bank delays. If you’re looking to make an instant CoinJar deposit over the festive period, you can visit one of over 1200 local newsagents to do this.

Full instructions on how to make a cash deposit can be found on this Support page.

Brave Browser Review

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Brave is an adventurous attempt at a new web browser, one which focuses on rethinking the overall advertising model of the internet. As of October 2016, Google’s Chrome browser continues to be the most popular choice with over half (63%) the usage share of all browsers. Although Chrome is freeware (as is Brave), it is developed by Google which derives the majority of its revenue from advertising. Some think this may lead to conflicts of interest when it comes to privacy and security.

Brave proposes a new model for internet browsing, one where users pay for their time online to remove ads and fund sites.

The team behind Brave is no less impressive than their mission. The browser is developed by Brave Software, the CEO of which, Brendan Eich, co-founded Mozilla, the company responsible for Firefox. Among other accolades, Eich is also the creator of the JavaScript programming language.

Hardware Wallet – TREZOR Bitcoin Wallet Review

Released in 2014, the TREZOR marked the beginning of the Bitcoin hardware wallet. Produced by Satoshi Labs, the TREZOR could not only store Bitcoin independently of your computer, but could do so while maintaining the functionality of a traditional web wallet. Thus, the TREZOR was the precursor to the many different hardware wallets we now see on the market.

The maturity of the TREZOR is reflected in the depth of engineering documentation, community involvement, and third-party compatibility of the device. For these reasons, the TREZOR remains one of the most secure ways to hold your Bitcoin.

Earn CoinJar Points when you invite a friend to CoinJar

When you invite a friend or family member to join CoinJar, you’ll both be rewarded with 500 CoinJar Points.

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Simply sign in to your CoinJar for your personalised referral link and share this with a close friend or family member. For each of your invitees who opens a new CoinJar using your personalised referral link and completes ID verification, you’ll both earn 500 CoinJar Points.

CoinJar Points can be used to cover fees during new currency exchanges, or redeemed for goods at the CoinJar Rewards Store.

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CoinJar Points themselves are also receiving an update soon – with adjusted redemption and earning rates for currency conversions. These changes will be rolled out over a 30 day transitional period throughout September 2016. For further details on these updated rates, please refer to our Knowledge Base article.

Hardware Wallet – Ledger Nano Review

The most common way to store and interface with the Bitcoin network is either by using software running locally on your computer or provided by a web service like CoinJar. Web-based bitcoin clients allow for greater flexibility around multiple devices and locations, and may come bundled with additional features such as customer support, digital currency exchange or even a debit card.

There is a trade-off between features when choosing your preferred form of storing bitcoin, and you should choose depending on your own personal circumstances. One possible step to take charge of your own bitcoin security is using a hardware wallet, a physical device which stores your private keys. We’ll be taking a look at a couple of hardware wallets available from the CoinJar Store starting with the Ledger Nano.