The evolution of bitcoin exchanges over the past year and a half have been interesting. We’ve seen many exchanges come and go, and our Australian friends may be pleased to know their country now has another option for trading digital currency.
It’s called CoinTree, and it’s based in Melbourne and run by two software engineers (who thankfully also happen to be members of the bitcoin community) who have a combined twenty years of experience in building global software (they also frequently attend the Melbourne bitcoin meetup if you want to meet them).
From what I’ve observed, the website appears to be fairly well designed. And they have this great instant demo that allows you to try out the system without having an account.
Also interesting: when a user makes a deposit into their secure wallet on CoinTree, they can actually verify the balance using a block chain explorer so they know exactly where their money is.
Fees are important, and according to the exchange’s announcement today on Reddit, there aren’t any buy or sell fees on the platform. There also aren’t any fees to withdraw bitcoin from the exchange. If you are, however, looking to withdraw in cash, a 2 percent fee will apply.
Of course, they’re only getting started here, so it will be a while before we know if this platform will take off. But hey, at least there’s another option available.
For additional details, visit cointree.com.au.