BitPrime and Crossgate Capital to Make Digital Asset Investments Convenient for Kiwis

By Emily Rys | February 18, 2019

New Zealand crypto companies BitPrime and Crossgate Capital have joined forces to offer local investors “an easy on-ramp into the digital asset class”, says BitPrime in a press release (Feb 15).

The team also includes directors from a “strongly performing NZX Main Board Listed Fund” and crypto industry experts. The collaboration will actively select a portfolio of crypto assets and continually research and monitor their individual performances.

The proposed portfolio includes Bitcoin (BTC), along with XRP (XRP), Ethereum (ETH), EOS (EOS), Stellar (XLM), TRON (TRX), Litecoin (LTC), and Cardano (ADA). Selection is based on fundamentals, specialist advice and “strong debate”.

For security, majority of the crypto assets will be stored offline in cold storage.

According to Crossgate Capital Director Scott Lester, “some investors would like to include cryptocurrency as part of their overall investment portfolio; however, they do not have the technological understanding of how to invest in this new asset class. Wallets, private keys and other technical terms serve to confuse and deter.”

BitPrime CEO Ross Carter-Brown said, “We’re proud to bring the Crossgate Capital equity offer to our customers and subscribers. This opportunity fills a large gap in the market where individuals want to add exposure to digital assets to their portfolios but don’t want the hassle of managing multiple wallets directly.”

Bitprime is a Bitcoin and cryptocurrency retailer that claims a customer base of over 14,000 Kiwis, making it easy for “everyday New Zealanders” to securely buy and sell crypto for NZD.

Crossgate Capital is a financial services firm/merchant bank specializing in raising start-up capital and advising long-term cryptocurrency investment. It is only permitted to invest in an asset if it raises a market capitalisation of at least NZD 500 million.

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