BitPrime Announces Partnership with Crossgate Capital Ltd

For Immediate Release:

BitPrime Announces Partnership with Crossgate Capital Limited.

BitPrime, New Zealand’s premier cryptocurrency retailer, has today announced partnership with Crossgate Capital Ltd. in response to the need for investors to have an easy on-ramp into the digital asset class.

Crossgate Capital is a New Zealand company established to make long-term investments into cryptocurrencies and thereby provides shareholders with the opportunity to invest in this relatively new digital asset class.

The team includes Directors of a strongly performing NZX Main Board Listed Fund and specialists within the cryptocurrency sector. They actively select a portfolio of crypto assets and continually research and monitor the performance of each asset. Selection is based on fundamentals, specialist advice and strong debate.

Crossgate Capital is only permitted to invest in an asset if it has a market capitalisation of at least NZD 500 million. It, therefore, invests in the more established assets. The proposed portfolio selection includes Bitcoin (BTC), the most well-known cryptocurrency, along with XRP (XRP), Ethereum (ETH), EOS (EOS), Stellar (XLM), TRON (TRX), Litecoin (LTC), and Cardano (ADA) at this stage.

Scott Lester, a Director of Crossgate Capital, says;

“Cryptocurrency has a higher risk profile than other investments, and therefore this asset class is not appropriate for all investors. However, for those investors who understand the risks, Crossgate Capital provides an easy way to access this market. 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.”

Crossgate Capital allows investors to simply purchase shares in a New Zealand company. Crossgate Capital was established to make long-term investments within a framework of strong governance and compliance, with the objective to deliver strong capital growth. Removing the complications to invest is what it’s all about.”

Security is a crucial area of focus. Lester advised that the majority of crypto assets will be stored offline in ‘cold storage’. With cold storage, the digital wallet is stored on a platform that is not connected to the internet, thereby, protecting the wallet from unauthorised access, cyber hacks, and other vulnerabilities that a system connected to the internet is susceptible to.

Lester advised it was interesting to hear this week that the first U.S. Pension Fund would be investing in crypto assets. This follows on the heels of the endowments of Harvard, Stanford and MIT announcing investments into at least one cryptocurrency fund. Fidelity (one of the five largest financial services providers in the world) also announced that they will be providing cryptocurrency custody and trading services for enterprise clients.

BitPrime notes that over the last twenty fours, Bitcoins trading volume exceeded USD 6 billion.

Ross Carter-Brown, BitPrime's CEO, said today "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 portfolio's but don’t want the hassle of managing multiple wallets directly ".

Currently serving over 14,000 Kiwis, BitPrime makes it easy for “everyday New Zealander’s” to securely buy and sell crypto for NZD. BitPrime focuses on educating and supporting their customers to understand crypto and the underlying blockchain technology. BitPrime is a registered Financial Services Provider employing robust ID verification processes and anti-fraud measures.

To find out more information about this new equity offer, or to join BitPrime, visit https://www.bitprime.co.nz.

ENDS

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