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Poor credit management pushes more into insolvency

Excessive use of credit is the thing that gets most people into financial trouble, and the number having trouble managing their debts is rising. According to the Australian Financial Security Authority, there were 31,589 personal insolvencies in Australia in the

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ICOs a rewarding speculative play

Investors can make good short-term gains from investments in initial coin offerings, as long as they manage to avoid the scams and the failures, a new study has found. Researchers at Boston College’s Carroll School of Management found that ICOs

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Deposit rates fall

Commonwealth Bank and Westpac both cut interest rates on key savings accounts last week, in the latest move by banks to protect their margins in response to higher funding costs. While some banks are raising home loan rates to protect

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Online brokerage rates slashed

Online broker Saxo Capital Markets has thrown down the gauntlet to its rivals, slashing brokerage rates to as little as $6.99 a trade for Australian stocks. Saxo claims its new rates make it the most competitive broker in the market

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CRYPTO.com launches Visa debit trial

The market for payment cards linked to cryptocurrency accounts is starting to gather momentum, with the announcement by Hong Kong payments and cryptocurrency platform CRYPTO.com that it has launched a trial of two products that incorporate Visa debit cards. CRYPTO.com

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ATO updates crypto tax guidance

People who convert cryptocurrency to Australian dollars or other money may be liable to pay capital gains tax, according to new tax guidance The Australian Taxation Office has updated the information on its website dealing with tax and cryptocurrency. It

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Making cryptocurrency accessible

Cryptocurrency trading platform HiveEx has partnered with blockchain company Ivy to provide a service to process cryptocurrency into Australian dollars. The new service IvyPay will launch later this year, allowing customers to convert their cryptocurrency into dollars and have it

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Cryptocurrency is not (and may never be) money

In their present form, cryptocurrencies are unlikely to become widely used in the consumer payments system. This is the view of the Bank for International Settlements, which says cryptocurrency technology is inefficient, its decentralised structure is “fragile”, and it cannot

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Bitcoin down but outlook positive

Bitcoin fell to its lowest point since early April last week, falling US$280 on Tuesday to US$6455. However, market watchers are optimistic that it will recover this year. It is now around 66 per cent below its US$19,000 peak in

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CoinJar launches cryptocurrency exchange

CoinJar, which entered the market in 2013 with a retail cryptocurrency platform, has launched a high-end digital currency trading platform, CoinJar Exchange. Claiming to have the fastest exchange in Australia, Coinjar has designed the new exchange for institutional and sophisticated

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Deposit rates fall

Commonwealth Bank and Westpac both cut interest rates on key savings accounts last week, in the latest move

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