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How to use AUDD

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How to fund your MyBrix Wallet

The currency used to acquire Brix on the MyBrix Platform is Australian Digital Dollars (AUDD). You can acquire AUDD from a number of sources including:

  • Directly from AUDD.
  • Ainslie (one of Australia’s longest serving Gold Bullion companies) where you can acquire AUDD using Cryptocurrencies (Bitcoin, Ethereum, Ripple, etc) and/or Precious Metals (Gold, Silver, Platinum, etc)  
  • As an Over-The-Counter (OTC) transaction from Zerocap using Cryptocurrencies like Bitcoin and Ethereum.  

An overview of AUDD is provided here

An overview of the Ainslie AUDD integration is here

An overview of the AUDD Zerocap integration is here

We will detail how to utilise Ainslie and Zerocap at a later stage, below will help you establish, verify and load $A to your account via the AUDD portal. 

The steps to create an account with AUDD are detailed here

Details about how to verify your AUDD account are here

Details about how to fund your AUDD account via A$ are here 

Once AUDD has been acquired you can transfer these to your MyBrix wallet to facilitate the purchase of Brix on the MyBrix Platform. 

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Our Frequently Asked Questions

MyBrix is an innovative solution for property finance that breaks free from outdated traditions, therefore those new to MyBrix typically have questions. In this Blog we provide answers to the Frequently Asked Questions (FAQ) for MyBrix Property Owners.

More FAQ's

What is a Brix?

A property is divided into 10,000 Brix, and each Brix represents a piece of the future sale proceeds and rental proceeds of the property. If your home has a market valuation of $1,000,000, then each Brix would be worth $100. Over time as the market value of the property increases so does the market value of Brix.

What is the maximum term of a MyBrix Facility?

The Maximum term you can have a MyBrix facility is 10 years from settlement.

Are there really No Interest and No Repayments?

Yes, once your property is fully funded there is no interest charged and no repayments required, regardless of the amount funded, as long as you are over the minimum equity limits of 35% for Owner Occupied Properties and 30% for Rental Properties. We do, however, encourage you to re-acquire Brix from Investors to create more Brix equity in your property throughout the term of your MyBrix facility.

What is the maximum amount I can Fund?

The Maximum you can fund is 65% for Owner Occupied Properties and 70% for Rental Properties using Standard or Silver Brix. In addition, you can fund up to 90% by filling the gap with Gold Brix. Gold Brix are subject to different terms and conditions and have mandatory monthly buybacks over 5 years. 

Refer to our calculators for more information.

Do I have to pay off my existing Mortgage?

Yes, MyBrix will pay out your existing bank mortgage with your bank as part of the conveyancing process once your property has been fully funded.

MyBrix does not provide any financial or other advice, you must obtain your own independent financial, legal and tax advice regarding the appropriateness of using any MyBrix Services, having regard to your personal objectives, financial situation and needs.

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