“Blockchain technology and cryptocurrency are continuing to making the case to play major roles both now and in the future”, says Clive Jimmieson of Crossgate Capital – New Zealand’s first regulated share offer in a company investing in Bitcoin and other cryptocurrencies.
During June, it was reported that over 2,000 Coca-Cola vending machines in Australia and New Zealand have started accepting Bitcoin, thanks to an agreement between Coca-Cola Amatil and Centrapay.
Jimmieson added, “There has been a recent raft of announcements of on-ramps being built to allow for the use of Bitcoin on a daily basis. This includes Australians being able to pay for Bitcoin at the country’s post offices”.
“The total number of Bitcoin ATMs has reportedly now passed 8,000 worldwide. While Singaporean carpooling app Ryde announced the launch of its own cryptocurrency wallet to incorporate Bitcoin payments into its ecosystem”, noted Jimmieson.
While knowledge about cryptocurrencies is building and the use case is increasing, actually investing in cryptocurrencies can still be daunting for many investors. Challenges include trying to identify which cryptocurrencies to buy, storage, tax, reporting and keeping track of this fast-moving market.
Jimmieson commented that “Crossgate Capital solves these issues by providing an easy on-ramp to investing. Crossgate Capital is a traditional investment vehicle, with shares titled in the investor’s name. Our investors gain immediate access to a diversified portfolio of cryptocurrencies without the inherent challenges of investing individually.”