NZ Bitcoin savings platform expands to include Ethereum

MyBitcoinSaver is expanding its service and rebranding to MyCryptoSaver today.

The New Zealand Bitcoin savings platform that has helped close to 5,000 Kiwis save $7million worth of Bitcoin since 2014.

The new platform allows New Zealanders to now save in multiple cryptocurrencies with regular bank payments.

This makes it easy for Kiwis to diversify their crypto portfolios with other well established and validated cryptocurrencies while maintaining a dollar cost average investment strategy.

The first cryptocurrency MyCryptoSaver is adding alongside Bitcoin is Ethereum, which is the second biggest cryptocurrency by market cap after Bitcoin and has been on the market since 2015.

Unlike other cryptocurrency investment platforms, MyCryptoSaver limits how much money investors can put in on a monthly basis.

"This ensures responsible trading and means that investors make gains from the overall rising trend of cryptocurrencies rather than unpredictable short-term volatility," MyCryptoSaver CEO Sam Blackmore says.

"The approach has helped our 5,000 clients make millions in profit over the past four years from Bitcoin alone. We have processed a total of $2,841,345 New Zealand dollars and that's now worth $7,724,174 in Bitcoin.

"We're excited to be able to offer more cryptocurrencies to investors to help diversify their portfolios.

Blackmore says the decision to expand to Ethereum first was simple.

"Ethereum is not only a highly popular cryptocurrency of its own, the technology is also used to power most of the new cryptocurrencies entering the market.

"What's more, with the Ethereum blockchain, you can build smart contracts for any industry or use you want: whether it's in property ownership or logistics," Blackmore says.

The Ethereum network is powered by the 'Ether' token, which is what New Zealanders will be able to save with MyCryptoSaver.

Once registering on the website, users will be able to buy up to $2,000 worth of Bitcoin and Ethereum every month.

The platform allows users to choose what percentage of their payment goes into either coin with a simple slider.

"As we add more coins to the platform throughout this year, they will have the same requirements in common: be established with a high market cap and liquidity, as well as having a real-world use case," Blackmore says.

"Kiwis are seeing the real-world potential of cryptocurrencies and we want to be able to safely and reliably distribute crypto to anyone in New Zealand, whether they have $20 or $2,000 to spend.

MyCryptoSaver buys cryptocurrencies in bulk from an overseas exchange to reduce the costs and time usually involved in buying cryptocurrencies as an individual.

This enables MyCryptoSaver to provide a better rate to users compared to most other crypto platforms.