Rich, secluded and amazing beaches: Perth’s crypto city guide

This “Crypto City” guide looks at Perth's crypto culture, the city's popular projects and people, its financial infrastructure, what retailers accept and where to find blockchain education courses – along with a history of crypto controversies.

City: Perth, Australia Population: 2.14 Founded: 1829

Jump: Crypto Culture, Projects and Cuba, Financial Infrastructure, Where is Crypto Going? Education, controversies and failures, famous numbers.

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About Perth

Perth is the most isolated capital city in the world and is located in Western Australia, miles away from any part of the country. In fact, it's about three hours away from the east coast cities of Melbourne and Sydney and shares a time zone with Singapore, China, Malaysia and Indonesia.

The money collected from the iron ore mine is one of the richest in the country. The state contains 98% of Australia's iron ore and will contribute 38% of global supply by 2022.

Many people from Perth – AKA Perthians, Perthites or Sandgropers – are my “Fly In Fly Out” crew. They went to the Pilbara region, 1,200 kilometers to the north, to grind hard for two weeks in the mines and earn a fortune for a “well-deserved two-week break” before heading home.

With an average of eight hours of sunshine a day and 123 kilometers of coastline, Perth isn't a terrible place to spend two weeks.

Perth has produced some of Hollywood's most successful actors, including Heath Ledger, Sam Worthington, Isla Fisher and Melissa George.

Perth caught the world's attention during the chaos of Covid-19 by closing its borders even to its own residents and operating as normal.

While the world is in turmoil and chaos, Perth has thrown out music festivals and stolen the beloved Australian Football League (AFL) grand final from Melbourne.

Perth Crypto Culture

Perth tends to be the forgotten cousin when it comes to major events due to the cost of adding tour dates there. Just ask the local Swifties how they coped when Taylor Swift hit almost every other city in the country except Perth this year.

As a result, it is used to build its own motivation. This is evident in the thriving crypto community at meetups, social networks and local conferences.

The WAWeb3 Association, a non-profit continuing education organization for Web3, organizes an annual two-day conference at the University of Western Australia. This March, you'll find industry leaders like Yat Siu, co-founder of Animoka Brands, lined up to talk with other execs and blockchain academics.

If you prefer online communities, there is a crypto community Facebook group called Perth CryptoCrew which has 6,650 members at the time of publication. Past events have included stablecoins, cross-chain bridges, and Solana.

Meanwhile, Perth's local baseball team, the Perth Heat, grabbed national headlines by declaring themselves the first professional sports team to opt to have their players and staff paid in Bitcoin.

In the year They made the announcement in November 2021, the same month Bitcoin hit an all-time high of over $65,000.

Perth-based blockchain entrepreneurs have a common space to run a business with like-minded people at the Blockchain Center Perth.

The co-working space opened its doors in December 2018 for blockchain, technology and investment businesses.

Blockchain startups can occupy office space that won't break the bank and, for a fraction of the cost, experience a little of that stereotypical tech life — with the bonus of access to basketball courts and ping-pong tables. Monthly payments start at just $675.

Australian DeFi Association meetings in Perth

And the community can also connect at regular events hosted by the Aus DeFi Association. Mark Monfort will be responsible for the national events, but Tracy Plowman, Bamboo's chief operating officer, and Katrina Dunn, avian impact consultant, will look after things in Perth on his behalf.

Dunn told the magazine that within a year of its launch, it had seen a 1,300% increase in regular Perth audiences, albeit from a low base.

“We started the official WA Aus Defi meetings in July 2022 with five people in a pub in the city and eventually grew to over 65 registrations last year for our July 2023 event.”

It was a very bold time to launch, with crypto lending platform Celsius Network going bankrupt that month and Luna and TerraUSD collapsing two months early in May 2022.

“You don't get as many crypto events as people in the East,” admits Plowman, but the population is small, and the pace is growing.

“We try to make sure that every single one is special. There's just this extra sense of gratitude and joy in the air every time we get together. That's the heart and soul of our community, right there,” Plowman says.

Plowman hopes 2024 will see Perth's Gen Z population in large numbers.

“This year, we especially want to connect with the young crowd. We are getting universities and people who are passionate about blockchain and web technologies,” she says.

Blockchain Australia hosts Blockchain Week and organizes a day seminar in Perth as part of its nationwide tour every June. It's a packed day with talks from bank executives, cryptocurrency exchange CEOs and industry leaders.

Perth crypto projects and companies

Perth is located far from the main crypto exchanges in Australia: Binance, CoinJar, CoinSpot, SwyftX and Independent Reserve have all set up shop on the east coast.

But some serious hitters call Perth home, including one of Australia's largest digital asset investment firms, DigitalX. The Australian Securities Exchange-listed company is headquartered in West Perth and provides wholesale investors with institutional-grade access to digital assets.

DigitalX CEO Lisa Wade told the magazine that about half of the company's nine employees call Perth home. Although Wade lives in Sydney, she flies in at least once a month to stay on top of things.

“The community is one of the most active with meetings in Australia and has really been ‘building' over the last few years. It's pretty well laid out now,” Wade said.

“I feel like Perth is a mirror of the wider industry, and we're seeing green shoots.”

If you're a Perth-based crypto firm, Wade emphasized that DigitalX is “always looking to partner.”

Startups and benchmarks that are growing fast and have strong plans for the future want to meet with Michael Prendiville, founder of the venture capital fund JC.

Prindiville runs Jelly C from Perth and explains that the amount of new pitches he sees on the table compared to 2022 has literally “defended” them.

Prendiville said the company is specifically looking for “forward-looking projects on the simulation of real-world assets.”

But note that the blockchain industry has grown and founders can't get away with offering a one-page spread for millions of dollars in funding. Prindiville wants to see some support from other major players and “a really well thought out plan”.

JC also manages two investment funds, the Bluebottle Digital Strategy Fund and the Bluebottle Multi-Strategy Fund, both of which are available exclusively to wholesale and professional investors.

Wade said two Perth crypto companies she was particularly excited about following her development were Bambu and Arabella – the latter a crypto bridge designed to establish a seamless transaction interface between the Ethereum and Concordium ecosystems.

Bamboo, an easy entry point into crypto investing is a micro-investing crypto app for people of all ages. The app connects to your bank account, rounds your daily transactions to the nearest $1-$10, and then invests the change in crypto.

Bamboo CEO Blake Cassidy told the magazine that the company is also focusing on crypto educational content to help bring the masses into the space. Bamboo has a blog where he publishes educational classes on marketing and investment strategies, as well as podcasts.

“We have the Crypto Curious podcast, Australia's largest crypto podcast. We get up to 60,000 listeners monthly, and that's focused on a week-by-week breakdown of what's happening in the ecosystem.

Respected Elders Blockchain project PowerLedger is both originated and operated from Perth. It has developed the world's first renewable energy blockchain trading platform.

The software allows consumers and producers to monitor, track and trade every kilowatt of energy produced off-grid.

According to CoinMarketCap, PowerLedger's native token POWR has reached a market cap of over half a billion dollars. It now has a market cap of $163.4 million, with a price of $0.31.

If the residents of the mining state want to mine Bitcoin, there are options to do that. Mining Shop, which sells crypto mining equipment, conducts limited operations in Perth. Director William Wright says mining has grown in popularity in Perth over the past seven years.

“In 2017, clients who came to us were far from mainstream, but now we see clients coming from all walks of life, including individuals, businesses, self-managed super funds and more.

He explains that the people of Perth prefer the more environmentally friendly option when it comes to Bitcoin mining.

“Many of the individuals and business customers we deal with are using solar power to help reduce the rising cost of electricity in Perth,” he says.

Perth's crypto financial infrastructure

According to data from Coin ATM Radar, there are now 20 Bitcoin ATMs scattered around Perth.

While you'll find most of them in major malls like Forest Chase Shopping Center, Morley Galleria and Dianella Plaza, there are also more obscure spots like Glendalough Laundromat.

According to Cassidy from Bamboo, Bitcoin ATMs are not as popular in Perth as they are in other parts of the country.

“Yeah, I don't think it's a way for really popular people to get involved – some people do. But of course most people are involved in exchanges.

Where can I withdraw crypto?

Coinmap shows over 30 businesses in Perth now accept crypto payments.

If you're a gin lover, head to Frisk's Little Bar in the CBD – it's crypto-friendly.

If you want to spice things up in the bedroom! On your bank statements, beyond the trap door, specializing in exclusive clothing and underwear, welcomes crypto.

Or, if you want a weekend getaway and are willing to make the four-and-a-half-hour drive, Aiyana Retreat in Denmark welcomes crypto in exchange for a luxury escape.

You can pay in crypt to repair your computer at Technics Computer Solutions.

Perth blockchain education courses

In the year In 2022, the University of Western Australia (UWA) received $300,000 from crypto exchange Binance to strengthen the blockchain courses offered at UWA.

According to a UWA statement, most of the funding was used to launch a full Masters program in blockchain technology, with some allocated to the university's Metaverse Lab, which was developed by students.

Every year, UWA hosts its own annual blockchain and cryptocurrency conference, the UWA Blockchain and Cryptocurrency Summit. Although compared to a lively Token2049 or Aus Crypto Con-style conference it seems like a slightly heavier vibe with an academic focus.

Meanwhile, Curtin University established a blockchain research and development lab in 2019. According to Curtin:

“By providing appropriate education and training programs, we train talent and prepare the workforce for a blockchain-based economy.

Curtin has launched a cryptography PhD scholarship fund in 2019. This allows companies and individuals to donate crypto to support PhD students in blockchain, cyber security and data analytics.

These pilot programs at universities are a great opportunity for venture capitalists like him to “keep one eye on what's going on,” Prendiville of JC said.

Meanwhile, Perth institutions such as CryptoLab and Digital Wealth Group are offering a variety of small crypto educational courses.

Whether you're an aspiring real estate agent in the field, in Perth, you need to brush up on your blockchain skills to advance your career.

The Real Estate Institute of Western Australia (REIWA) has launched compulsory professional development (CPD) blockchain training for WA real estate professionals.

It gives students a glimpse of how blockchain technology can help individuals in every aspect of the real estate industry.

The rise and fall of Perth Crypto

Australia's second richest man, Andrew Forrest (in Australia's Financial Rich Rich List 2023), has come face-to-face with Meta, the company behind Facebook. In the year 2023 slaps people into crypto scams for not doing enough to stop fake ads using its name.

The beloved Perth Glory Football Club also got involved in the crypt shenanigans.

In the year In 2020, when mining magnate and Perth Glory owner Tony Sage tried to sell the club, the deal fell through, leading to intense scrutiny. Local media did some digging and discovered that the man behind the London Football Exchange is Jim Aylward, a “colorful” London crypto entrepreneur who was convicted of tax fraud in 2010 and has a history of robbery and violence.

The people of Perth seem like easy targets for scammers. According to the latest data, 71 West Australians will be held responsible for almost $4.1 million by 2022.

Also, if you are offering crypto trading “lessons”, try and stay on the right side of your Perth clients. Melbourne-based crypto influencer Michael Watkins found this out the hard way.

In the year In 2023, a Perth woman was unhappy with the service she received after paying thousands for various crypto courses and trading groups. After the market turned in 2021, she saw crypto liquidation and slapped a one-star review on her profile on TastPilot.

Watkins sued for defamation, but was unsuccessful. He lost and had to pay legal fees.

Famous crypto people of Perth

JC co-founder Michael Prendiville, Bamboo CEO Blake Cassidy, Bamboo COO Tracy Plowman, PowerLedger founders Jemma Green and John Bulich, former Perth Heat CEO Steven Nelkowski, UWA blockchain lecturer Andrzej Gwizdalski, DigitalX CEO Lisa Wade, Digital Capital Managing founder Ben Ritchie, co-founder Empowa Phil Lewis, co-founder ArtsiX Kav Temperley, crypto analyst Sophie Amat, UWA blockchain and cryptocurrency research center Dirk Baur, former CEO of Binance Australia Leigh Travers, co-founder dHEDGE Ermin Nurovic, L1X founder Kevin Coutinho , RailgunDAO researcher Kieran Mesquita, BalthazarDAO head of product David Beros, Blockchain Assets founder Ian Love, EarnOS founder Phil George, and Hsuite partnership manager Ronan Roarty.

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Ciaran Lyon

Ciaran Lyons is an Australian crypto journalist. He is also a freelance comedian and has been a radio and TV presenter on Triple J, SBS and The Project.