Market Update

Bringing crypto back to life

03 Nov 20232min
    If you're like us, you're probably wondering wen crypto makes another move on the mainstream. It often feels like the mainstream sees crypto as "dead" (again…). It's been 11 months since the collapse at FTX, and 17 months since Elon Musk shilled Dogecoin at the top on Saturday Night Live – what a time to be alive.
    6ukt25gu-1920.jpeg Elon Musk jokes about Dogecoin on SNL
    So, where are we today? Many of your friends and family who jumped into crypto at its peak have moved on, perhaps even forgetting the names of the crypto apps they got $10 free Bitcoin to sign up with... You might even recall your grandparents chiming in with quotes like "I don't have crypto; I have Bitcoin" – classic Grandma.
    But if you're still on crypto twitter, whether you're HODLing tight, dollar-cost averaging into BTC and ETH, accumulating alt coins, or storing meme tokens in your hot wallet (steady lads). You can rest assured, the crypto community is alive and kicking.
    The last 12 months have been a time for reflection, and refocusing. While we're patiently awaiting the Bitcoin Spot ETF SEC approvals, from big names like BlackRock, VanEck, WisdomTree, Invesco, Galaxy Digital, Ark Invest, Bitwise, Valkyrie, Fidelity and GreyScale, just to name a few. (Combined AUM of over $16 Trillion, something to think about). Our team has been laser focused on delivering 3 things to our customers.
    1. Security.
    If the last bull market taught us anything it was this: Centralised systems should not be trusted. Yes, Block Earner is a centralised company. However, we made the commitment to provide access to Decentralised Finance. Why? Because, despite all the greed, turbulence and criminal (Sam Bankman-Fried) behaviour in the CeFi space. DeFi smart contracts ticked on unphased. That’s 1.1. of Security. If we stuck to the original ideals of crypto, none of this would’ve happened. It was humans that failed us, not crypto.
    1.2 Insurance.
    Digital assets stored in Block Earner are not covered by the Australian government's A$250,000 dollar deposit guarantee. Introducing Coinbase Custody Trust Company. One of our partners, Coinbase Custody Trust Company empowers Australian crypto holders with access to an institutional-grade digital asset cold storage vault, fortified by insurance coverage of up to $320M USD (approximately $475M AUD as of November 1st, 2023).
    This first-of-its-kind insurance cover for Australian customers elevates security and trust in the crypto ecosystem. The Block Earner Crypto Vault, powered by Coinbase, offers an additional security option for users holding crypto in Crypto Buy/Sell, and is also audited by Deloitte and Touche. Very nice.
    Accessibility.
    Sometimes I wonder if builders in the crypto industry make DeFi interfaces so technically complex inorder to delay mainstream adoption, so they can stack more stats for their grandchildren, before boomer retirement portfolios send the price upwards without even knowing they hold BTC. Removes tinfoil hat.
    Is buying Bitcoin accessible? Yes. If you have a smartphone (you do). If you know how to find a pub on Friday night (you do). You can watch the AFL, NRL or F1 for free and see crypto advertisements smack bang in the middle of the field. Then, the only barrier from there is downloading an app, passing KYC and finding the buy button. However, is Decentralised Finance accessible?
    Unless you're a proper degen, you're going to struggle accessing and managing DeFi. It is complex. Private key self custody and no support awaits you. This is a massive problem, and it's the problem that Block Earner was built to solve. We provide access to global, decentralised, permissionless, open-source, math-based financial markets.
    Utility.
    While Memecoin Summer in April of 2023 kept many on crypto Twitter moderately entertained. In anticipation of the next wave of crypto adoption (wen), hopefully on the horizon. At Block Earner, we recognise the need for the crypto industry to mature and transition from speculation to mainstream everyday blockchain utility.
    The good news is, Australians stack stats. Australians have proven to have diamond hands. Australian investors currently hold over $20 billion worth of crypto assets. However, the value of these holdings remains locked for two primary reasons: first, we're reluctant to part with our crypto, and second, traditional financial options don't permit us to use our digital assets as security to borrow AUD. Essentially, traditional finance (BoomerFi) doesn't recognise our assets yet...
    Enter Crypto-Backed Loans (November 2023). Our mission at Block Earner is to democratise blockchain-based finance, making it accessible to everyday Australians. Block Earner Crypto-Backed Loans represent a significant milestone for the industry.
    Crypto-Backed Loans Australia.jpg See how much you could borrow using our calculator
    Now, depending on their loan application and personal circumstances, Australian crypto investors can tap into their wealth without parting ways with their assets. They could borrow up to A$250,000 AUD within 24 hours, with fixed interest rates for 12 months, flexible repayment options, and lightning-fast approval times (we're so back).
    Click here to join the Crypto-Backed Loans waitlist.
    DISCLAIMER: The information on this blog post is for general information purposes only. It is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered legal practitioner or financial or investment adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any legal or financial product. Block Earner does not recommend or endorse any particular token.
    Loans made by Web3 Loans Pty Ltd ACN 668 516 952 and managed by Web3 Ventures Pty Ltd trading as Block Earner (ACN 655 090 869) authorised representative 551024 of Mortgage Direct Pty Limited ACN 075 721 434 Australian Credit Licence 391876. Crypto-backed loans are high risk financial products, and include risk of significant or a total loss on any crypto assets. Additionally, make sure that you also read the target market determination (“TMD”) on the Block Earner website.

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