The cryptocurrency ecosystem is New Zealand is growing at a steady pace. As a result, BitPrime adds supported crypto to cater to the higher demand for diverse offerings. The cryptocurrency retailer also adds that the additions aim to avail wider options to crypto enthusiasts within New Zealand.
According to Scoop, a local news outlet, BitPrime will add Kin (KIN), SmartCash (SMART) and Elastos (ELA). The three are major tokens in the country whose demand is on the rise. Also, each token presents a unique set of features that enthusiasts will find useful. For instance, KIN aims to bring people together as in a kinship to take part in today?s shared economy.
Particularly, BitPrime seeks to facilitate an easy access to digital assets by New Zealanders. In addition, the platform offers a convenient way through which users can trade cryptocurrency without much hassle. Importantly, the platform incorporates advanced security features that prevent fraud.
By June this year, customers could only trade in Bitcoin, Ethereum, and Ripple against the New Zealand dollars. However, the cryptocurrency retailer added five more offerings to bring the total digital coins to eight. Therefore, as BitPrime adds supported crypto, the offering will grow to eleven.
According to an official statement, the addition of more coins will expand liquidity in the country. In addition to liquidity, a broader platform in terms of offerings will allow for faster order execution, News BTC reports.
Despite the popularity by the BitPrime, concerns still exist regarding the excessive risk that investing in crypto entails. According to a July report by Stuff, a local news outlet, most local banks are refuse to deal with crypto-related businesses.
Interestingly, a July statement by the Reserve Bank of New Zealand regarded cryptocurrencies as a vulnerability. However, enthusiasts quoted by Stuff insisted that blockchain is the safest platform that provides the safest currency; cryptocurrency.