HomeBitcoin NewsBitcoin Exchange BitPrime Is Open For Business In New Zealand

Bitcoin Exchange BitPrime Is Open For Business In New Zealand


It is good to see New Zealand is once again getting a bitcoin exchange platform. BitPrime plans to become a household name in the country over the next few years. The company provides a compelling service that allows users to buy and sell bitcoin without friction. It is evident the people who run BitPrime are very passionate about bitcoin and cryptocurrency, and it will be interesting to see how this company fares in New Zealand.

New Zealand Embraces Bitcoin Once Again

Buying and selling bitcoin in New Zealand has not always been that easy. For a few years, cryptocurrency enthusiasts could make use of the BitNZ platform, although that company was forced to shut down after banking issues earlier this year. New Zealand is not the only region where banks want little or nothing to do with bitcoin as a whole, even if it hinders the growth of successful businesses.

BitPrime aims to bring bitcoin to mainstream consumers and companies once again. As of March 28th, the company is open for business and allows anyone to buy and sell bitcoin without friction. Moreover, the company focuses on making this process as straightforward as possible. BitPrime makes use of a third-party escrow service to ensure all clients’ funds is safe and secure at all times. Using such an escrow service is quite unique among bitcoin exchanges, that much is certain.

What is even more intriguing is how BitPrime’s third-party escrow provider is none other than LocalBitcoins. This peer-to-peer trading platform has gained a lot of popularity over the past few years. All of the bitcoin being bought or sold will be held by LB until the payment is complete. Users can use bank transfers and cash deposits for their bitcoin needs. In a way, this makes BitPrime look more like a broker than an actual exchange, although it also means the company itself will not need to deal with liquidity.

It is evident New Zealand can become a big hub for bitcoin in the future. Similarly to other countries, the national banking system suffers from low interest rates. Investors are trying to diversify their portfolio whenever they can, and bitcoin plays a big role in the process. After all, the popular cryptocurrency can provide better yearly returns compared to savings accounts or any other type of traditional asset. There are plenty of opportunities abound where bitcoin is concerned, that much is certain.

Header image courtesy of Shutterstock

JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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