Update: Hedged Accounts are no longer a supported feature on CoinJar. The best place to hedge your digital currencies against Australian dollars is in your Cash Account. Cash Accounts are available to all our verified customers. This change is the first step of a series of exciting updates coming later this year to make digital currency more accessible. We’re looking forward to sharing them with you throughout the coming months.
Today, we’re excited to launch CoinJar’s newest feature for the everyday CoinJar user, Hedged Accounts. Hedged Accounts protect you from fluctuations in cryptocurrency prices by pegging your cryptocurrency to AUD, GBP, EUR or USD. They are available to be added to your CoinJar now.
“Hedged Accounts are great for people who want to start out with cryptocurrency for practical purposes but don’t want to manage it actively or worry about price volatility.”
– Asher Tan, CEO
This new feature is particularly useful for businesses or charities that accept cryptocurrency as they can make business plans and budget without worrying about its volatility. Hedging their cryptocurrency gives them the assurance that their funds are stable, without having to transfer it to cash.
How Hedged Accounts work
A CoinJar Hedged Account allows you to hold a variable amount of cryptocurrency that has a fixed value in terms of an alternative currency (GBP, AUD, EUR, USD). This protects your cryptocurrency from price fluctuations. Once set up, Hedged Accounts are shown alongside your regular accounts within CoinJar. You can easily transfer funds to and from a Hedged Account using your Everyday Bitcoin, Ethereum, Litecoin, Ripple and, Zcash accounts.