BitPrime Brings Litecoin and Ethereum Classic to New
Zealand
Thursday, 28th September 2017
– This Thursday morning, New Zealand-based
cryptocurrency brokerage BitPrime has released a new service
that now allows Kiwis to buy and sell Litecoin (LTC) and
Ethereum Classic (ETC) using New Zealand Dollars. BitPrime
is a full-service brokerage offering phone and email
support, in addition to facilitating cryptocurrency trades.
BitPrime has launched these new coins alongside the Ripple,
Ethereum and Bitcoin they already stock on their site. The
innovative business can also source almost any
cryptocurrency from this snowballing asset-class to
customers via custom orders.
Litecoin and Ethereum
Classic are considered Bitcoin alternatives and they have
been quickly gaining traction with investors in the
cryptocurrency market. “The popularity of cryptocurrencies
in NZ has been increasing rapidly, with trade volumes having
grown more than eight-fold since we launched in March,”
says Ross Carter-Brown, Senior Partner at BitPrime. As a
testament to this, the total cryptocurrency market
capitalisation is currently NZD$188 billion at the time of
writing, which is an increase of 830% since August 2016.
To date, these “Bitcoin alternatives” like Litecoin,
have increased 1520% over the past year with an approximate
market capitalization of NZD$3.7 billion. Ethereum Classic
has also grown in popularity with NZD$47 million turn-over
per day. But what exactly is Litecoin and Ethereum Classic?
Essentially Bitcoin, Litecoin, and Ethereum Classic are all
cryptocurrencies, with some technical differences between
the three.
Litecoin (LTC) was developed by the ex-Google
engineer, Charles Lee. Some have said that if Bitcoin is the
“gold” of crypto-currencies, Litecoin could be
considered the “silver.” Litecoin boasts faster
confirmation of transactions than Bitcoin, as well as a
higher coin limit of 84 Million (compared to Bitcoin’s 21
Million). It has also been theorised that since Litecoin has
a faster block time, this reduces the risk of “double
spending” attacks (the same coin being spent twice) and
therefore more secure.
On the other hand, Ethereum
classic (ETC) is the original Ethereum blockchain with
Ethereum (ETH) being the new fork, after the Ethereum
blockchain split in 2016. Ethereum Classic (ETC) uses
“Smart Contracts” which is revolutionising the business
world including many industries such as insurance and real
estate.
A Bitcoin success story that went viral on social
media is Kristoffer Koch from Norway. Koch invested around
$27 in Bitcoin in 2009 and then forgot about it for four
years. He remembered about his Bitcoin wallet in 2013, which
had then grown in value to $886,000.
BitPrime’s new
launch has opened the markets up for Kiwi investors to buy
and sell Litecoin and Ethereum, as alternatives to Bitcoin.
As the demand for cryptocurrencies increases, Carter-Brown
says, “we aim to make cryptocurrencies easily available to
everyday New Zealanders, and expanding our offering is part
of achieving that goal.”
You can contact BitPrime at
www.bitprime.co.nz or 0800 4333 55 for more information
about their Litecoin and Ethereum Classic launch.
ENDS
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