Frequently Asked
Questions

Block Earner was founded to bridge the gap between traditional and blockchain-based finance. Our products provide access to the benefits of digital currency and the leading decentralised finance platform Aave. Block Earner goes above and beyond to keep you safe using industry-leading verification steps, we also facilitate both 3rd party and BPAY transactions which is unavailable on any other Australian exchange.

KYC is a process to verify the identity and understand the background of our customers. During KYC, you will need to provide an official document to prove who you are.

Block Earner is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) and we are required to comply with anti-money laundering and counter-terrorism financing (AML/CTF) laws.

There is a minimum deposit/withdrawal amount of $1 to and from your Block Earner Cash account.

Every first time deposit is subject to a short verification period where the assets are able to be used on the platform but not withdrawn in cash. This helps us reduce the risk of fraudulent transactions being made on your behalf.

The Australian Taxation Office (ATO) classifies cryptocurrencies as an asset. This means that assets in your Block Earner Account are subject to capital gains tax. There are several online services to help with record keeping and tax reporting. These include: Cryptotaxcalculator.io, Cointracker.io or Koinly.io.

To buy crypto on Block Earner, follow these steps:

To deposit Crypto from another crypto exchange or crypto wallet, follow these steps:

Block Earner support 100+ tokens and we regularly add more. You can see the full list here. Let us know if there is any crypto you’d like to see.

Buy/Sell Stablecoins - 33bps Buy/Sell Other Tokens - 82.5bps

You can start with as little as $1AUD.

To withdraw crypto to another crypto exchange or crypto wallet, follow these steps:

Every first time deposit is subject to a short verification period where the assets are able to be used on the platform but not withdrawn in either cash or crypto. This helps us reduce the risk of fraudulent transactions being made on your behalf.

The correct network will depend on the type of cryptocurrency that you are withdrawing. Not all tokens are compatible with all networks, here is a resource to help. Typically, if the network is available to select, your token is supported on that network but you will need to ensure your wallet address is in the right format.

If you are unsure about the network you need to choose, please contact our support team.

Unfortunately, we are unable to verify if the network you’re using is compatible with the token you have sent. Some wallet addresses are easy to identify as being incompatible but many are not. Once a transaction is initiated and the funds leave our platform, we are unable to reverse it. Transactions that leave our platform are irreversible so always double-check when making a crypto withdrawal.

You can access Tier 1 digital assets (BTC, ETH, USDC) through the leading decentralised finance platform Aave, we also support USDC on Compound.

You can learn more on their official website.

Buy/Sell Stablecoins - 33bps Buy/Sell Other Tokens - 82.5bps

APY stands for annual percentage yield. It is a standard calculation of the rate of return used in DeFi and crypto. Each DeFi Access asset has its own market of supply and demand with its own APY which changes constantly.

The yield is calculated based on the Aave lending market’s current supply and demand. On the Aave platform, yield is earned in aTokens. When you use Block Earner, just like when you use Aave, aTokens are simply added to your account according to the market rate for that token.

Yield is paid in the same token which is deposited. If you have aUSDC, you will earn aUSDC.

It takes up to 24 hours. You will receive a confirmation email from us when the transfer is confirmed.

It takes up to 24 hours. You will receive a confirmation email from us when the transfer out is confirmed.

Block Earner is registered at AUSTRAC as a Digital Currency Exchange (DCE100784590) and Independent Remittance (IND100784590) provider.

WEB3 Ventures Pty T/A Block Earner Ltd (ACN: 655090869).

HQ: 13 Hickson Rd, Walsh Bay, NSW, 2000

There are significant risks associated with crypto assets, and you are solely responsible for making sure you understand such risks and assess whether such risks are appropriate for you. For further information refer to Block Earner’s DeFi Risk Framework and Disclosure here.

Block Earner is not a financial institution and funds held in digital wallets are not protected by the Government’s deposit guarantee.

Block Earner interacts with DeFi protocols and Fireblocks, the number one institutional digital asset custodian. Fireblocks is ISO and SOC2 certified and is trusted with billions by the industry’s largest players.

In Aave, your assets are allocated in a smart contract. The code for the smart contract is secure, open source, formally verified and audited by third-party auditors. The funds can be withdrawn from the contract on-demand. For further information, visit the Aave website: Aave.

Start sharing your unique referral link. This makes it easy to invite friends to Block Earner. You can share your link with a friend directly – copy and paste the link wherever you chat with your friends – social media apps, email – whatever works best for you.

You will earn a $25 bonus for each successful referral. To activate your referral bonus you must make a $250 deposit to an Aave Access option and hold it for 30 days.

Successful referrals must sign up using the link you shared with them, get verified and make an initial deposit of $250 to their Aave Access option. Referrals are uncapped! Meaning, you will receive an additional $25 for each successful referral, so continue to share with friends to increase your referral bonus. Referral bonuses will be automatically credited to your Block Earner account.

You can track your successful referrals via your account settings. Simply click on the Referrals tab to see your lifetime referral earnings, and how many friends have joined using your link.

All you need to do is create a Block Earner account and complete photo ID verification to get your unique affiliate link.

You're the expert here! Share your unique referral link or promo code on the platform you feel is best suited to your audience.

For every new user that signs up with your affiliate link or code and makes a Crypto Buy/Sell transaction, we pay you 60% of fees for 90 days and 30% for life. Best of all, your earnings are denominated in Bitcoin, giving you the flexibility to buy, sell, or hold as you see fit.

Please note: Commissions will be calculated in SATS – shorthand for "satoshis", this is the smallest unit of measurement in Bitcoin. One satoshi is equivalent to 0.00000001 BTC, or one hundred millionth of a bitcoin.

Your commission is calculated in SATS – shorthand for "satoshis", this is the smallest unit of measurement in Bitcoin. One satoshi is equivalent to 0.00000001 BTC, or one hundred millionth of a bitcoin.

When you reach 2,000 SATS, you can claim your commission to your Crypto Buy/Sell account in Bitcoin holdings.

Yes, new users that sign up using your unique affiliate link or promo code will receive a $10.00 AUD bonus.

Affiliate partner rewards are uncapped, meaning there is no limit to your potential earnings. You will also earn a 30% commission on the fees generated by the partners you bring on board for life.

Yes, your Affiliate earnings are subject to taxation and must be reported accordingly.

The Australian Taxation Office (ATO) classifies cryptocurrencies as an asset. This means that assets in your Block Earner Account are subject to capital gains tax. There are several online services to help with record keeping and tax reporting. These include: Cryptotaxcalculator.io, Cointracker.io or Koinly.io.

From the launch of Crypto Vault, you will be able to manage deposits and withdrawals through your Block Earner Crypto Buy/Sell account. You can make requests to deposit or withdraw digital assets whenever you wish, and transactions will be processed daily.

Crypto Vault is a cold storage custodial wallet for the private keys to your digital assets that is provided by Coinbase Custody Trust Company to Block Earner. Cold storage means that your private keys are held offline. A custodial wallet means that your private keys are held by a third party, being Coinbase Custody Trust Company.

Crypto Vault is powered by Coinbase Custody Trust Company and offered by Block Earner. Coinbase Custody Trust Company is part of the Coinbase Group, including Coinbase Global Inc. Coinbase Global Inc carries US$320 million Commercial Crime Insurance and a US$6 million Cyber Insurance policies, which extend to its subsidiaries like Coinbase Custody Trust Company, and these policies are renewed annually.

The policies cover matters like losses resulting from employee collusion or fraud, physical loss such as theft or damage to key materials, security breaches or hacks, and fraudulent transfers. For the avoidance of doubt, Block Earner and its users (eg, Crypto Vault users) are not party to the aforementioned policies but any digital assets in the Crypto Vault held by Coinbase Custody Trust Company are covered by the policies.

Crypto Vault combines physical security, consensus computation and process controls. Coinbase Custody Trust Company implements measures including the use of multi-signature wallets and offline storage, which provide enhanced protection for private keys. Suspicious activity is closely monitored and promptly reported for investigation.