• expired

Free $30 Worth of Bitcoin (BTC) for Signup and Verify @ Luno

3425
HELLOBITCOIN

Received as part of Hello Fresh box.

Free $30 worth of Bitcoin from Luno! Tested and works for same day withdrawal.

  1. Do not use referral. Using referral will void this deal.
  2. Download the Luno app.
  3. Sign up and verify your account.
  4. In rewards section, enter code HELLOBITCOIN
  5. To withdraw you will need to deposit $1.30 to cover their fee and then you’ll be able to withdraw straight away.

Important — Do not use the referral as this deal WILL NOT WORK! Only use the steps stated above.

Enjoy!!

Referral Links

Referral: random (296)

Referrer and Referee both receive A$20 worth of Bitcoin when referee deposits money into Luno wallet and buy or sell Bitcoin to the value of A$199 (Luno exchange not included)

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closed Comments

  • +5

    Thanks op! I sold and withdrew immediately with no issues

    • Did you sell it for aud and just withdraw to your bank account?

    • how did you withdraw ?

      • +3

        Sell btc and withdraw aud.

        • +7

          cheers. paying for my KFC tonight.

          • +4

            @NotSteve: I don't care, I love it!

          • +2

            @NotSteve: Wow, when bitcoin becomes worth a billion dollaroos, I'll remember this as the new 'pizza for 100bitcoin' moment!

            • @Spiderboy: Is that before or after quantum cracks the p2pk Satoshi key and other early addresses, leaving a 19 trillion dollar hack.

              I wouldn't want to be heavily invested in crypto that day.

              • +1

                @buffalo bill: Quantum isn't going to crack #bitcoin or any other digital assets. People that think that have NFI.

                • +1

                  @rektrading: OK anon. I'll ignore what physicists and computer scientists agree on…

                  "Quantum computers are posing a serious challenge to the security of the Bitcoin blockchain. Presently, about 25% of the Bitcoins in circulation are vulnerable to a quantum attack."
                  "In a situation where a large number of Bitcoins is stolen, the price will most likely crash and the confidence in the technology will be lost."

                  That's from a PhD writer Deloitte, but same from Forbes, Decrypt etc. who share same view.

                  I'm not saying don't get involved in crypto, but for many reasons it'd be naïve for people to put their faith in the longevity of Bitcoin.

                  • @buffalo bill: Quantum will be used by nation-states to hack the most valuable network in the world to steal its resources. That network isn't the Bitcoin network.

                    WWIII will break out shortly after that. Bitcoin won't be on people's minds when the nukes crisscross the Atlantic ocean.

                    • @rektrading: Most nation states now run on more secure encryption and someone could only speculate about if that became useless, but the scientific consensus is the ability to break these early keys, and early less secure encryption is impending. In BTC's case, it only needs to happen once.

                      • +1

                        @buffalo bill: Bitcoin will fork when the time comes. It will then continue to mine blocks for the next 120Y.

                        • +1

                          @rektrading: Another bad scenario for Bitcoin. The day it ceases to become BTC and becomes "Bitcoin New", like BSV, BCH, Bitcoin ABC and all the others. People losing access to the fork due to unsupported wallets etc. One of many bad scenarios.

                          Do what you want, but be informed. Better to be in something else at that time IMO.

                          • +1

                            @buffalo bill: It doesn't have to be BTC in the end? ETH, BNB and SOL

                            • @Scythic: Exactly right. All crypto assets will be affected in price at that time, but it's probably good to invest in those that will not be functionally affected.

                              I don't like ETH much, overhyped and fees are killing it's usability. ie. Shib and Storg token reward payments are dying because of it.

                              BNB and SOL seem solid so far.

              • +4

                @buffalo bill:

                I wouldn't want to be heavily invested in crypto that day.

                You think that your bank's online security is ready for functional quantum computing? Invest in silver and guns.

                • @cfuse: The first p2pk Bitcoin keys will be cracked before any bank who has kept up to date with modern encryption.

                  Although I don't advocate keeping money in the bank either. It's a sure way to ensure you are a loser as inflation eats away at your savings and the bank lends at a 7-1 ratio (give or take) against your savings, further diminishing your asset purchasing power.

                  • @buffalo bill: so if not crypto or bank, then what should we do with our $?

                    • +2

                      @homersyd: You've got low cap miners, blue chips, emerging tech (ie. battery and green tech), energy, Aussie property, Vanguard ETFs, Aussie property, minerals and yes crypto. The mix is up to you and depends of how much you want to manage and risk.

                      I'm not here to rubbish crypto; but it is a heavily manipulated market with a number of impending future issues and shouldn't be treated as bank savings. Price manipulation, whales, legislation and sentiment affect the market hugely and there are "assets" created solely to onboard new users funds so a few can withdraw. The rising price of Bitcoin and ETH to date doesn't equate to that being so indefinitely.

                      • Just a rant, not financial advice.
      • +5

        So that $30 you pay 100% tax on at your tax rate.

        So you would only be getting ~$19.80 after the CGT event.

        • +13

          Okay. What is your point? It's still free money.

          And if you hold it, you could make even more :D

        • +6

          You sound like my mate who says it's better to just gamble on horses as no CGT on gambling winnings.

          • +5

            @2pro4sho: Someone is downvoting me for a helpful comment, and then again for telling people that Bitcoin might go up? lol

          • @2pro4sho: Only good if he backs $1.70 favs, that's how you make the monies.

        • +5

          Incorrect - if you don't pay anything, then the purchase price is market value. If you sell straight away your profit from a tax point of view is $0. So no tax

          • -4

            @illusion99: If you own less than $10k of crypto it's considered a hobby and you don't need to worry about taxation.

            If you earn more than $10k, receiving $20 of btc is the same as earning interest so that's tax immediately on you marginal tax rate.

            When you sell the difference between the sale price and the $20 is you capital gain and you pay tax on your marginal tax rate when you sale. If you held it for more than 12m then you get the 50% CGT discount.

            Here's some info I google on crypto tax.

            https://www.hrblock.com.au/tax-academy/tax-on-bitcoin-crypto...

            • +2

              @SeVeN11: I think you have taken that $10k personal use asset threshold out of context there. It is only considered a personal use asset and eligible for tax exempt status if you are using crypto to purchase goods and services for personal use, ie as you do normal currency. The H&R Block link states that the crypto must be used for personal use goods and services AND the cost of the crypto is less that $10k. Nothing at all about having or earning < $10k of crypto and still being exempt.

              From the horses mouth;
              https://www.ato.gov.au/Tax-professionals/TP/Cryptocurrency--...

              Cryptocurrency is not a personal use asset if it is kept or used mainly:

              as an investment
              in a profit-making scheme
              in the course of carrying on a business.

              You might only have $100 of crypto. If you trade it, the ATO expects you to declare it. That's why it is starting to show up on people's prefills this year.

              ps Does anyone know of a good free/very cheap option to extract the data and then prepare CGT reports from varied and/or multiple trading platforms (coinbase, binance etc)? Having clients dabble with $50-$500, swapping regularly between crypto, especially partial holdings, is a right PITA for their accountant. To work out the CGT manually & correctly can easily cost the individual more than what their investment capital.

              • @camjl: Koinly has a free tier but the free tier doesn't let you print a report. My understanding is you just get a final figure. I don't trade crypto (just accumulate signup bonuses) so I haven't bothered signing up.

        • +4

          "Hey, do you want $20 for free?"
          "Yeah sure!"

          "Hey, do you want $30 for free? You will need to pay tax on that though."
          "Not worth it"

          ¯\_(ツ)_/¯ human brains are made from grey goo

          • @huuuuugo: Some @Wizard s are so worried about taxes that they don't want to take free money.

            ngmi

  • Some people don't know that if you try hide CGT that doesn't end well.

    • +12

      There is no CGT as your cost base is $30 not $0. From ATO point of view if you received an asset as a gift the 'price' you paid is the value on the day you received the gift

      • I received $10 free BTC from Coinspot and cashed it out straight away.

        I forgot all about it until the ATO sent me a letter stating that I had disposed of cryptocurrencies and need to declare CGT.

        • +2

          What is it to declare? They already know about the $10 and can add that to the tax return.

          They paying someone to write a letter and posting it just goes to show how inefficient and wasteful the feds are with taxes they collect.

          • @rektrading: It's an automated letter, because I didn't declare CGT for that financial year.

            They didn't handwrite a personalised message lol

            I called them and they said it's all good, not worth amending for such a negligible amount

            • @Harold Halfprice: The letter is a template but it takes a human to do the process of check, printing, folding and mailing the letter.

              Government agencies are littered with red tape and jobs that only exist so that the ministers in charge can ask for a bigger budget.

              There is no wonder why the majority of people are sick of their wasteful spending with nothing to show for it.

              France to bill Australia over submarine deal, as Britain’s Johnson tells Macron: ‘Donnez-moi un break’

              French President Emmanuel Macron with Australian Prime Minister Scott Morrison in Paris in June. Morrison said he told Macron during this visit that Australia had concerns over the submarine deal it had signed with France. (Pascal Rossignol/Reuters)
              By Rachel Pannett
              September 23, 2021 at 2:38 a.m. EDT
              https://www.washingtonpost.com/world/2021/09/23/submarine-fr...

              They pull stunts like this and then turn around and bill the taxpayers.

              • +1

                @rektrading: Printing, folding and mailing are all done in batches using machines. There's no chance every letter is being checked.

                Yes, they could set a parameter in their printing to say if the amount is less than X, then don't include them. But they probably figure it's better to let people know about the small amounts so they don't think they can get away with large amounts next time.

            • @Harold Halfprice: So did they say you had to pay capital gains on $10 with a cost base of $0? Or to enter $0 as capital gains with $10 as the base and sell value? And did they say it's a gift or does it count as $10 income?

              • @peterpeterpumpkin: I can't exactly remember - because I didn't need to do anything as they didn't care about it.

                But the amount of CGT owed was very very small, we're talking cents.

                So I'm assuming what happened was the $10AUD BTC appreciated in the very very short time I had it before selling. So if it went, for arguments sake, to $10.50AUD, then it'd be capital gains on the 50c gain.

                That makes sense, because if it was a base of $0, and a capital gain of $10 AUD then the tax would have been higher.

                • @Harold Halfprice: Thanks. That makes sense and clarifies it a bit.

                  Remind me of the hassle with leaving my sign up bonus in Spaceship voyager. Made some cents and it's become more trouble than it's worth. My accountant didn't charge me for it (there's normally an additional fixed fee for shares and managed funds) but then they didn't add it to the return either. I don't know if it's ignored like bank interest under $1 but I hate receiving letters from government agencies.

    • how much would be CGT on this ?

  • +2

    Does this stack with the referral system? I should have checked that first.

    It's not on this page, looks like it only works on the luno.com domain as seen here: https://www.ozbargain.com.au/node/591566

    • No it does not and did not apply to me aa I tried to sign up and apply the code. Either referral code or use this promotion code. Judging by CGT comments and privacy concerns it seems $20 after tax isn't everyone's cup of free crypto lol

  • +2

    kyc required to recieve bonus?

    • +2

      (not to be confused with kfc)

      I'd be interested to know the identity documents required & if they do a credit check?

      • Photo of passport or licence and selfie

        • but is it required to recieve the bonus

          • +1
            • @rw: ah ok. ill give it a pass. now only using platforms that dont require KYC.

              • @easternculture: Hey ec, could you recommend a non KYC platform? Thanks.

                • +2

                  @Cheap Skate: Hotbit or Pancake swab via Crypto Wallet
                  also there are ways to top up your account with USDT and remain anonymous

              • +3

                @easternculture: good luck with that.

                • -8

                  @szy2k: already doing it.
                  turn around in my trust wallet about 250 to 500 per day via new meme tokens

                  also have a few trillion of kishimoto inu in hotbit, high chance it will be successful like shiba

                  • +5

                    @easternculture: "high chance"
                    Get lost.

                    • +1

                      @ajr5k: already 10x, bought on listing
                      also my $PETS is 15x

                      • -2

                        @easternculture: How exactly could you be 15x? I looked at the price of this and you have literally said something impossible.

                        Edit: Oh I see it has changed to 10x. That is possible. Congratulations.

                        • @ajr5k: bought at 0.4 (hotbit currency), sold and bought multiple times, got my initial investment back to buy other things. Anything extra is a bonus

                          15x is my PETS

    • What is wrong with getting a kyc check ? Does it impact you somehow ?

      • CGT

        • How do you plan on making any withdrawals without KYC somewhere?

          • @johnnytran: Spend it in countries that use it as legal tender or currency for payments.

      • +2

        The ethos of digital asset ownership is that it's anonymous.

    • Kyc?

      • +2

        know your customer

      • +10

        Kentucky Young Chicken

  • +2

    is luno considered safe platform? just wondering if kyc identity check is worth 30aud

  • +18

    You might want to add that HELLOBITCOIN is only valid if added in the app, even though you can sign up through the linked website (the image attached says to download the app). Using a PC can be frustrating anyway when you need to take selfies with a phone anyway.

    • +3

      Was just about to post

      This promo code can only be applied through the Luno mobile app

  • Can the BTC be withdrawn to an external wallet? If so, can anyone advise what the withdraw fee is?

    • +4

      They make you wait 14 days to enable withdrawals. Dynamic fee apparently.

      • +2

        I see. Cheers for the reply!

  • +7

    Probably not worth for the sake of $30 to upload your passport to a non regulated entity in Australia. Imagine if that website is hacked and someone use your ID to take out a loan in your name or launder money with an account in your name.

    • +5

      Hi mate,

      Just checked it and found that they were actually already registered under AUSTRAC. So I believe this should be legit thus far.

      • +6

        You need to look at their privacy policy

        International transfers of your personal data

        Luno is a global organisation and, in the course of providing our products and services to you, your personal data may be transferred to, stored and processed outside of the jurisdiction in which you reside, and the laws of those countries may differ from the laws applicable in your own country. For example, data collected in the European Economic Area (EEA) may be transferred to, stored and processed at a destination(s) outside of the EEA (including the United States of America).

        By accepting this Privacy Policy, and then submitting your personal data, you expressly consent to the transfer, storing or processing of such personal data outside of your jurisdiction.

        This means they can transfer it anywhere in the world and hold your passport information there. Austrac registration is required for them to provide digital currency service. The risk here is that your personal data could be transferred offshore to a country which generally for passport related information is a no no.

        • Aha great, this is the part which I have missed then in terms of how the personal data is stored, transferred and processed.
          Thanks for pointing out, mate! Cheers.

    • Stop talking about things you know nothing about. They are regulated in Australia and are safe.

  • +3

    So do I understand correctly that $30 would be your base cost, so if your BTC increased to $40 and you sold it, your capital gain is $10, not $40?

    • -2

      Nope your cost base is $0 so if whatever you cashed it out for is your capital gain.

      • How does that differ to cash bonuses when you open a bank account? Are cash bonuses like Revolut and opening a bank account subject to CGT?

        • That is on your tax return as an income. I have received cash bonus from CBA for mortgage refinance and it shows up on your prefill tax return as bank interest income.

        • crypto is treated like property in Australia so CGTs

      • +3

        I don't think that's the case. The cost base of a gift is the market value of the assets at the time of the gift.

        Otherwise, the ATO would be double dipping. The giver must determine the capital gains and losses on any gift.

        (The receiver of a gift doesn't pay income tax on that gift - prior to disposal - but may be subject to market rate duties based on the type of gift, such as in the case of cars and houses).

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