NZ startup moves to Australia due to clearer regulatory environment

( Cryptosaver, a new and innovative cryptocurrency savings platform is making it easy for people to buy bitcoin in Australia. The three Kiwi founders initially launched their service in New Zealand. However, NZ banks closed their accounts citing the unregulated nature of cryptocurrencies as the reason. This is despite being registered with the government’s Financial Markets Authority as an accredited financial services provider, and complying with AML/KYC regulations.

This closed stance forced Cryptosaver to relocate to Australia, where they were able to register as a digital currency exchange under the recent AUSTRAC regulation.This clear regulatory framework has been welcomed by banks and allowed other international players like Huobi to also launch in Australia.Since moving they have been able to complete a beta testing period with positive feedback. Now that all systems have been examined and are working perfectly, Cryptosaver is ready to bring on new users!

“Up until today, adding Bitcoin (or any cryptocurrency) to your savings and investment portfolio has been a hassle, thanks to high barriers around low local liquidity, difficult storage options and no easy way to buy it regularly.”
– Denym Bird, CEO of Cryptosaver

. By pooling funds together and sourcing bitcoin directly from regulated exchanges, Cryptosaver is able to reliably deliver small or large amounts of Bitcoin every week to your cold or hot wallet. Operating as a broker, Cryptosaver acquires bitcoin on the customers behalf at the market rate from the exchange and transparently charges a commission for their service. After registering on the platform, investors are prompted to set up an automatic payment from as little as $30 and provide the address of their nominated wallet (. From here, users can simply sit back, relax and watch their bitcoin savings grow!

“Put simply, you can buy Bitcoin through our platform, with a regular set and forget payment (like an AP) and our platform will deliver Bitcoin to your nominated wallet every week, fortnight or month – without the hassle and at a price you can trust. You can track your investment through our handy dashboard, and each delivery (via email or sms) includes a full transaction breakdown.”
– Denym Bird, CEO of Cryptosaver

Purchasing regular amounts of an asset over a period of time rather than buying a lump sum of crypto all at once is known as the dollar cost averaging method. Many investors use this method to protect themselves against market fluctuations and downside risk due to volatile swings in asset prices.

“By buying a fixed dollar amount on a regular schedule, your focus is on accumulating assets on a regular basis, instead of trying to time the market.”

Some other benefits of dollar cost averaging include:
– It forces investors to purchase fewer units at a higher price and more units at a lower price.
– Reduces the emotional burden of investing and trying to time the markets.
– Allows investors to build a diversified portfolio over time whilst maintaining cash reserves in case unexpected things happen.
– For people with a regular income, it makes investing more predictable, and easier to stash money away before spending it.

The team at Cryptosaver have been working hard behind the scenes for the past 12 months to bring this project to life. An ambitious dream of placing the next financial revolution into the hands of everyday Australians and Kiwis has driven their desire to build an extremely user-friendly platform that connects exchanges with new buyers, breaks down the barriers to adoption and takes away the hassle of holding bitcoin and other cryptocurrencies.

As soon as New Zealand banks become more accommodating towards emerging financial technologies and open their doors to cryptocurrency-based businesses, Cryptosaver will begin offering their unique services to Kiwis as well.

It only takes 30 seconds to get set up, and small decisions now can make a huge difference down the road. Click here to learn more about how Cryptosaver helps you to safely and securely invest in bitcoin.

Media Release on 17 August 2018 by

Media Contact
Denym Bird, Cryptosaver Limited
Phone: +64211055833