Australia’s leading cryptocurrency exchange has launched the new platform feature called AutoTrader, which allows customers to execute automated trading strategies, the first being AutoBuy. This strategy automatically purchases traders’ preferred cryptocurrencies once the money is deposited into their account.Independent Reserve is the first order book exchange in Australia to release this feature. The new AutoBuy feature, coupled with scheduled bank transfers, would allow customers to Dollar Cost Average (DCA) their cryptocurrency purchases.Adrian Przelozny, CEO and founder of Independent Reserve said: “The launch of AutoTrader is a significant milestone for Independent Reserve. As the name suggests, the feature will allow customers to set automated rules and strategies for trading cryptocurrency. It’s been a popular request from our customers for some time now, and we’re proud to be the first Australian exchange to launch a valuable service like this. Enabling our customers to dollar cost average their purchases
will bring many benefits. Firstly, it means our customers don’t have to worry about trying to time the market when they make a purchase, which can be a big barrier to entry for new cryptocurrency investors in particular.”
“Autotrader allows users to buy smaller parcels of cryptocurrency at regular intervals, for example daily or weekly or monthly. This limits their exposure to price fluctuations, especially compared to customers that may enter the market in a large way, and then see the market move against them. Finally, we allow our customers to set spend and price limits which will reduce the burden on investors to keep up with price fluctuations, instead the AutoBuy feature will make sure they get what they want at the right price, without going over budget”, Przelozny continued.
Independent Reserve plans to add more strategies on AutoTrader in the coming months. “This feature is something that many of our clients have been calling for, so I’m extremely pleased to be making this announcement. But we’re not stopping there. We’re actively reaching out to our userbase on which strategies they want to see next and welcome their feedback via IR’s social and customer support channels”, the Independent Reserve CEO added.
Independent Reserve has built a proprietary, institutional-grade trading platform since its founding in 2013. The Australian Blockchain Industry Awards has named the firm Digital Currency Exchange of the Year and the Australian Financial Review ranked Independent Reserve in the Most Innovative Companies list. The crypto exchange currently has over 100,000 customers across Australia and New Zealand, and services around 8,000 self-managed super funds (SMSFs). The firm works closely with various Australian regulatory bodies including AUSTRAC to formulate AML/CTF regulatory frameworks for the industry.
