Australian BTC Exchange Bit Trade Opens Equity Crowdfunding Campaign
Bit Trade, The First BTC Exchange In Australia Launches Crowdfunding Campaign
Bit Trade is the oldest BTC exchange in Australia. It recently announced that it would be launching a crowdfunding campaign to raise equity. The campaign will take place on Equitise. For about $475, Aussies will be able to get a slice of Bit Trade, which has been active since 2013. The exchange hopes to raise about $3 million, which it will use for strategic growth and the expansion of Equitise internationally.
What They Had To Say
Mille, Bit Trade co-founder said that they were excited at the prospect of launching a premier future investment gateway via smart securities. Equitise was amongst the first crowdfunding platforms in Australia to receive licensing from regulators. This is part of a new framework to help investors gain a capital foothold in Australian companies and new businesses.
The time is right for budding DIY retail Aussie investors. In 2017, the data found that in 12 months, 65 percent of investors in Australia used the online platform. Besides that, it was found that 60 percent of Aussies have investments outside institutional super funds. Most of the investments are on-exchange as Aussies seek out a new class of assets.
According to Miller, the figures show that digital currencies have risen in appeal in the nation. This was further confirmed by the fact that about $5.9 billion in crypto was traded in 2017 in Australia.
About The Platform
Miller added that it did not matter whether you were serious or just curious about crypto. The platform will be easy to use for experts and newbies. The co-founder of Equitise Mr. Wilkinson said that it was a chance for Australians to be part of the campaign. He added that Equitise and BitTrade were perfectly positioned to capitalize on the evolving regulation around crowdfunding in the nation.
Wilkinson noted that despite harsh regulation and prices fluctuations, interest in BTC was still high amongst Aussies. Equitise will allow investors the chance to have a foothold in the emerging world of crypto.
He added that this campaign would be the first time ordinary Aussies would shape the future of wealth by being part of an innovative company such as Bit Trade. The exchange also has a lab and consultancy where research and consultation on blockchain tech take place.
According to Miller, the funds from the crowdfunding will go to the Bit Trade team and the platform. Besides that, they will scale to foreign markets. The strategy was to diversify the revenue base, scale operations, and gain insights on its customers. It was especially interested in learning about institutional investors.
Almost 83 percent of all crypto traders are male. About 71 percent are below 40 years.
In the past five years, young investors 18-24 have grown from 10 percent to 20 percent in the crypto space.
The exchange launched an upgrade of the platform and saw its user base surpass 50,000.
In 2018, Equitise has helped to raise more than $4 million in crowdfunding.
Those 35-44 were the biggest investors in Equitise in 2018.