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This article is for Australian members. If you're looking for instructions for CoinJar UK, visit this article.
Please note: this article refers to a feature that is no longer supported by CoinJar, and exists as reference only.
An update on Hedged Accounts
Hedged Accounts were discontinued on May 29, 2019, with a final withdrawal deadline on June 26, 2019. A notification email was sent to all CoinJar members who had funds stored in a Hedged Account leading up to June 26, and any funds remaining on this date were automatically transferred to the owner's Cash Account (where available), or a suitable digital currency account. All transfers made from Hedged Accounts between May 29 and June 26 were not charged with conversion fees.
Moving forward, the best place to hedge your digital currencies against Australian dollars is in your Cash Account. Cash Accounts are available to all verified CoinJar members.
Hedged Accounts explained
While they were active, CoinJar Hedged Accounts allowed you to temporarily store your digital currencies in the form of an alternative currency (GBP, AUD, EUR, USD). This helped to protect your funds from price fluctuations in the event you didn't want to actively monitor for price changes.
As a real-world example, this was similar to converting an amount of Australian dollars into US dollars, in anticipation of a fluctuation of either currencies' value.
Once set up, Hedged Accounts are shown alongside your regular accounts within CoinJar. You can easily transfer funds to and from a Hedged Account from any digital currency accounts, or your Cash Account.
As follows is a basic scenario of how a CoinJar Hedged Account was able to help protect the value of your funds during times of price fluctuation.