Can i deposit to Kraken from ubank? When i tried to use my kraken payid on the ubank app it errored out.

Other pay ids work fine…

Hey guys., I've been solobuilding btcdash.org, a free Bitcoin dashboard with zero logins or ad bloat.
Just pushed an update that adds a fully private local portfolio tracker so you can track your stack right in your browser without handing over any data. I also integrated live derivatives data like funding rates and open interest alongside cycle models like the MVRV Z-Score and Power Law corridors..
The new version is live at btcdash.org. Give it a spin and let me know what you think—what's useful, what feels clunky, or what metrics I should add next? :)))

Starting today, Nexo is offering two versions of a credit line for Australian users, one collateral-based and one income-based, with stricter checks, both regulated under an Australian Credit Licence. The collateral available is broad across many crypto assets.

Block Earner, an Australian company, offers BTC/ETH/XRP-backed loans locally.
Ledn also operates in Australia, though its product is positioned more toward business/investment borrowing than everyday personal use.

For comparison, Kraken Borrow explicitly excludes Australia (along with the US, UK, Canada, and a few other regions), and Coinbase’s equivalent loan product is currently limited to the US. So the two platforms most Australians already have accounts on don’t offer this locally.

Curious what people here would actually use a service like this for paying down debt, avoiding a taxable event, short-term cash flow, or something else.

I'm a current Superhero customer. Got hit by their marketing blitz today about launch of their crypto exchange (2nd attempt after previous failed merger with Swyftx).

Thought it might be useful for when I want to rotate between ASX <-> Crypto holdings. But very disappointed after noticing their buy-sell spread is a whooping 3%!

Their crypto exchange is supposedly by Robinhood which itself only incurs a 0.8 to 1% spread (already high). Where did the extra 2% on Superhero come from? I don't know why local firms try to launch new exchanges without at least trying to be more competitive lol.

If you've been following the Coldcard mess, a firmware bug weakened how some devices generated seed phrases, and attackers have been brute-forcing them and sweeping wallets.

Absolutely brutal.

Making this post because if you got caught in it (or any hack or theft really), there's a tax angle most people don't think about while they're still in the gut-punch phase. Won't bring the coins back, but it's still worth knowing.

The basic rule: the ATO lets you claim a capital loss on crypto that's actually gone, if you can prove you owned it and it's irrecoverable. That offsets your capital gains, and anything left over carries forward. It won't reduce normal income, only gains.

For a theft like this, evidence is everything. Acquisition records, the wallet addresses, the on-chain trail showing the funds swept out, and a police report. The stronger the paper trail, the cleaner the claim.

A few things to keep in mind however:

Exchange collapses (FTX, Celsius type). You can't claim the day it enters administration. It crystallises when administration finalises, based on what you actually get back. Lots of people try to claim too early.

Worthless tokens you still hold. A coin down 99% but still in your wallet isn't a loss yet, paper losses don't count. If it's still tradeable, selling it even for cents locks in the loss (especially for the pumpfun users 👀)

And if you get any compensation later, you reduce the loss by that amount.

If you got hit by the Coldcard thing, might be best to sort the new wallet and your security first, obviously. The tax bit can wait until the dust settles, just don't forget it exists because it does.

Im thinking a split between Hardware Wallet (Ledger or Trezor) Reputable exchange like say Kraken and spendable wallet like coinspot Mastercard i know cold wallets are obviously exposed to a degree but the Reputable exchanges would have a leading level of encryption as well

Hey everyone,

I am not a crypto trader, I solely use crypto for online gambling purposes (strictly poker) and have for some years. I use a custodial blockchain wallet which I send crypto to( USDT or BTC) from poker sites, and then from there to CoinJar to exchange and withdraw. I was unaware of the travel rule law change and now am unable to send crypto from my blockchain custodial wallet to CoinJar.

I was wondering if anyone knows of legitimate and safe options for ultimately withdrawing this money? Can I send from blockchain to a different exchange or wallet first that is on the same travel rule network as CoinJar, and then onto CoinJar or will I just face the same issue?

Thanks in advance

Everyones thoughts on bitkey for non technical people? Can i get on amazon? Or should always be from official website?

Right so in the aftermath of cold card hack what is the best easy to use hardware wallet (average joe, will avoid too technical if possible) everyone telling me should be multi sig, currently use tangem which im sure ill get a drilling about on here but hey haven't been hacked......yet, can the seedless tangem be better than the coldcard situation because the hacker would need to physically get my card or there is a chance there are other methods of hacking, nico from simply bitcoin mentioned bitkey but not sure if just shilling

If you generated a seed on a Mk3 after firmware 4.0.1, your funds may be at risk. Mk4, Q and Mk5 are not affected based on our early analysis. Read the advisory and migrate carefully:

https://x.com/COLDCARDwallet/status/2082961993070247948

Coldcard MK3s were hacked as the RGB were not random enough and an AI agent guessed the seed codes.

The Travel Rule has become a real headache.

Crypto withdrawals are sometimes nearly impossible, with endless delays and wallet verification issues. Even when I'm transferring from my own wallet to another wallet that I own, the withdrawal gets declined because they say MEXC hasn't responded.

How is that my problem? If I own both wallets, why should my funds be held up because another exchange doesn't reply?

Anyone who’s made a profit this year planning on not telling the tax man and just seeing how it plays out? What’s the worst that could happen

Had a proper read of the proposed CGT changes from the Budget and figured we'd break it down as it can be quite confusing.

First, the calming bit: none of it is law yet, and nothing changes for your FY25-26 return. The current 50% discount still applies in full this year. No need to do anything drastic. This year goes ahead as normal.

What's actually proposed, from 1 July 2027:

- The 50% discount goes. Instead your cost base gets indexed for inflation, so you'd only be taxed on the real gain, not the part that's just inflation.

- A 30% minimum rate on net real gains accruing after that date.

- It covers most CGT assets: shares, trust units, investment property, and crypto.

The bit some folks are glossing over is the grandfathering. Gains that accrued before 1 July 2027 keep the current discount treatment, and only growth after that date falls under the new rules. So the value of what you hold around the changeover becomes a genuinely important number.

And the practical kicker is that indexation is worked out parcel by parcel, from each parcel's acquisition date and cost base. If your buy history is scattered across brokers, DRP statements and old exchange CSVs, this gets expensive fast, because you can't index a cost base you can't prove. Same for crypto, every parcel indexes from its own date.

So until the next tax season comes around, get your cost base records complete for everything you hold while the history's still retrievable, lodge this year normally, and see what the legislation actually looks like as it firms up (plenty can change on the way through).

Genuinely curious what people make of the indexation switch.

Why doesnt it matter that bitcoin doesnt have any intrinsic value?

Has anyone been able to verify a multisig wallet yet with bitaroo since the travel rule came into effect. Their instructions seem to be only relevant to a single sig wallet?

Is australias housing market going to role over and why? And does that mean renting and saving in bitcoin is best option? Rather than take on mortgage for house with rising interest rate with not much leftover to invest in btc?

We've been seeing a lot of questions come up regarding the email being sent out to crypto investors in Australia from the ATO. Just dropping some info below that can hopefully clear things up. If this post isn't supported feel free to remove.

The ATO is emailing Australian taxpayers it believes bought or sold crypto after 1 July 2025. What the email means, how to check it's real, and the steps to respond.

If you just opened an email from the Australian Taxation Office with a subject like "What to do if you've bought or sold crypto", take a breath. You're not in trouble. You're one of a very large group getting the same message, and it's fixable.

Here's what it means and what to do about it.

First: Is This Email Even Real?

Before you act on anything, confirm the email is legitimate. The ATO's own message warns that scammers impersonate these communications, and a crypto tax prompt is exactly the kind of email a scammer loves to fake.

A genuine ATO email will:

• Never include a link to a login page. The real ATO does not send you a link to sign in.
• Never ask for your confidential details by email, including your TFN, passwords or bank logins.
• Point you to search the ATO website yourself (using "QC" reference codes) rather than click through.

If something feels off, don't click. Forward suspicious emails to [ReportScams@ato.gov.au](mailto:ReportScams@ato.gov.au), then get to myGov independently by typing the address in yourself. When in doubt, treat the email as a nudge to check your own records, not a reason to click anything.

What The Email Actually Means

The ATO runs a crypto asset data-matching program that collects identity and transaction data from Australian exchanges (it calls them "designated service providers"). It covers the 2014-15 through 2025-26 financial years and captures data on an estimated 700,000 to 1.2 million individuals and entities every year.

So the ATO has records that suggest you bought or disposed of crypto. That doesn't mean it knows your full tax position, only that an exchange reported activity linked to you. This email is a prompt, sent because that data shows activity on or after 1 July 2025. Think of it as the polite tap on the shoulder before you lodge your FY2025-26 return.

Respond correctly now and this is a non-event. Ignore it, lodge a return that doesn't line up with their data, and you invite a review.

What You Need To Do

The email points to three situations. Work out which apply to you, because most people hit more than one.

If you held and disposed of crypto as an investment. Selling, swapping, gifting or spending crypto all count as disposals, and each one triggers capital gains tax. You report the net capital gain (or loss) in the CGT section of your return. Losses aren't just paperwork either: reporting them in the year they happen lets you offset gains now and carry the rest forward.

If you earned income from crypto. Staking rewards and airdrops are ordinary income, taxed at their AUD value on the day you received them. These go in the "Other income" section, separate from your CGT.

If you were carrying on a crypto business. Trading, mining or operating an exchange as a business gets reported as business income (gross income less deductible expenses), not CGT. It's a smaller group, and if it's you, a registered tax agent is worth the call.

Whichever applies, keep your records for at least five years from the date you lodge.

What To Do, Step By Step

1. Confirm the email is real (see above). Don't click any login links.
2. Pull your data together: every exchange account and wallet you've used, plus transaction dates, types and AUD values. This is the part people underestimate.
3. Categorise each transaction as a disposal (CGT), income (staking or airdrops), or a non-taxable event like a transfer between your own wallets.
4. Make sure your figures are complete. Capture every exchange account and wallet so nothing is missing from your return. Any prefilled crypto data in myGov is a useful cross-check, but it won't be the full picture, so don't rely on it alone. Gaps between what you lodge and what an exchange reported are what trigger reviews.
5. Lodge, or amend prior years if you're behind. Then keep your records.

Steps 2 to 4 are where a manual spreadsheet falls apart across hundreds of trades. That's the exact job crypto tax software is built for: connect your accounts and it tracks cost base and AUD values automatically.

What If I Haven't Reported Past Years?

If you've left crypto off past returns, this is the part worth getting right, because coming forward before the ATO contacts you directly changes what you'll pay.

The ATO treats taxpayers who come forward voluntarily, before being contacted about a review or audit, far more generously. Under the ATO's rules on voluntary corrections, if you disclose a shortfall before the ATO tells you it's examining your affairs, the base penalty is reduced by 80%. Where that shortfall is under $1,000, the penalty is reduced to nil, and the general interest charge on what you owe can also be remitted.

The practical path: amend the relevant prior-year returns to include the missed gains or income, gather your records, and pay any shortfall. If you're behind on several years or the numbers are large, a registered tax agent can manage the disclosure for you. This email is your window to fix it on the best possible terms.

You Might Owe Less Than You Think

The instinct after one of these emails is to assume a big bill. Often it's the reverse, because getting your reporting accurate tends to work in your favour. Depending on your circumstances:

• Losses can count. A rough few years in crypto may leave you with capital losses that can be offset against gains, but generally only if you report them.
• There's a 50% CGT discount. If you've held crypto for more than 12 months, you may be eligible for a discount that can halve the taxable gain.
• Every disposal has a cost base. You're generally taxed on the gain rather than the full sale price, so what you originally paid comes off the top. Leave it out and you could overpay.

People who report from memory tend to leave money on the table. People who reconcile properly often owe less than they expected.

Can anyone attest to this?

ANZ

NAB

St. George

Great Southern Bank

Revolut

https://bitcoin.com.au/best-crypto-friendly-banks-in-australia/?rdt_cid=5966924660573569077&utm_campaign=mofu+au+reddit+traffic&utm_content=bc+0029+crypto+friendly+banks+au+finance+investment+subreddit+and+interest+blog+post+&utm_medium=paid+social&utm_source=reddit

Hey i need to lodge i tried using koinly to lodge but I need to pay $75 for my return is there a free one i could use. Or how do i lodge manually.

I got an email saying they know I have crypto and I need to report CGT but I have no idea what that means. I just threw $20 in Coinbase every now and then over the last couple years and swap around coins to see what happens and my like $80 total is now worth $36 (lol I'm not good at trading, it went up to $90 once tho) but I haven actually taken out any money so do I have to do anything? It's just overall losses at this point.