The Bitcoin Association of Australia is pleased to see the expansion of cryptocurrency services within Australia with the recent addition of support from Coinloft and Cointree for Ether, Litecoin and DAO Tokens.
As its President Adam Poulton says in an email to CoinTelegraph, “The new services provided by these two Australian exchanges add to the choice for Australian customers and ensures that developers and service providers can participate easily in these new marketplaces with trusted local providers”.
The two of Australia’s leading Bitcoin exchanges this week announced new services allowing users to purchase a variety of altcoins including Ether, the cryptocurrency that powers the Ethereum network. The move is timely for Australians interested in exploring altcoins as it ushers in a new level of access to Ether which has previously required the use of multiple services.
Although bitcoin is the predominate cryptocurrency that most of the wider population always hears about,” Poulton said on the synergy between Bitcoin and Ethereum in the light of their recent fast rise, “many industry experts predict that several competing blockchains could provide users with options and choice in the emerging cryptocurrency marketplace.
Growing interest in altcoins
A joint news release from the two exchanges says that as of Monday 13th of June, CoinTree users will be able to swap Bitcoin for a variety of popular altcoins including Ether, Litecoin and DAO tokens; and CoinLoft users making deposits will now have the option of purchasing Ether or Bitcoin.
With the new services, both exchanges are positioned to capitalise on a growing interest in altcoins within Australia particularly with the ETH potential in the area of smart contracts which has brought it much attention in recent months.
They will also enhance the process of lowering entry barriers for all Australians interested in cryptocurrencies.
“This scenario is now playing out with the emergence of Ethereum providing the platform for developers to design products and services that up until now have not been possible on the bitcoin network”