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CoinJar Tackles Bitcoin's Volatility with New 'Hedged Accounts'
Updated Sep 14, 2021, 2:02 p.m. Published Feb 10, 2015, 11:53 a.m.
Australian bitcoin finance company CoinJar has introduced pegged accounts in an attempt to shield customers from bitcoin's volatility.
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The new accounts, which CoinJar is calling "Hedged Accounts", will allow users to peg the price of bitcoin against fiat currencies, such as the US dollar, Australian dollar, pound and euro.
Asher Tan, CoinJar's CEO, explained that the new option would benefit those who would like to start using bitcoin for practical purposes, but do not want to "manage it actively or worry about fluctuating price".
He continued:
"While some users enjoy the speculative aspects of bitcoin, there are others who would like to hold bitcoin without worrying too much about volatility. Hedged Accounts make bitcoin a more stable currency, and more useful to people."
Today's launch follows the recent release of CoinJar's new iOS app, CoinJar Touch, and the trial of Australia's first bitcoin debit card, CoinJar Swipe, last year.
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