CoinCheckup

Blog

  • Five Big DeFi Tokens That Made Their Owners Richer in November

    Five Big DeFi Tokens That Made Their Owners Richer in November

    Anton Chashchin, Commercial Director at CEX.IO Loan

    Almost all DeFi projects are about liquidity pools, instant loans, decentralised exchanges, lack of regulation and immense ROIs that most people aspire to when investing their money in DeFi assets. Some of them were proved right during the month of November that saw a sizeable batch of DeFi tokens taken to considerable heights.

    In the list below, I ranked the DeFi assets with highest capitalisations that were able to make the most gains in November 2020. Compiling this list, I referred to the DeFi market data provided by DeFi market aggregator Messari. Continue reading and find out how the most prominent gains were made.

    1. SushiSwap (SUSHI) – 160%

    SushiSwap is a fork of its parent project Uniswap; SUSHI is an ERC20 standard token, being one of the most popular DeFi tokens of 2020’s summer, SUSHI was one of the front-runners in the second wave of DeFi popularity this November. SushiSwap utilises automated market making and incentivises users to hold SUSHI giving them fees for providing liquidity on the SushiSwap decentralised exchange.

    Sushi found the bottom at the start of November, and most of November’s SUSHI growth happened in the second week of November – 95,5% to be exact. Some 29.4% was earned in the third week, and the fourth week saw SUSHI lose 12% of its price. The SUSHI market cap constitutes $0.35 billion, according to Messari.

    2. Yearn.Finance (YFI) – 152%

    Andre Cronje’s Yearn.Finance announced 4 mergers in November with different protocols. Among them are Pickle Finance, Cream Finance, Cover and Akropolis. The mergers expanded the Yearn.Finance liquidity pool and its ecosystem. The merger with Pickle Finance supported the pool that had suffered a $19.76 million dollar attack worth of users’ DAI and gave Yearn.Finance another liquidity pool to harvest. The merger with Cream Finance let Yearn.Finance users receive and take loans in Cream through the tokens staked in liquidity farming.

    The merger with Cover – a market coverage provider – made Cover’s token CLAIM collateral as well as borrowable for borrowing and loaning YFI respectively. According to Yearn.Finance’s announcement, the merger with Akropolis will allow the Yearn protocol to benefit from Akropolis’s business development expertise and their institutional contacts. No wonder, that this series of mergers saw YFI surge by 187% in the third week of November and close the month with no less astounding 152% of monthly profit. 

    The market valuation of Yearn.Finance has topped $0.9 billion, according to Messari, and is on the way to the $1 billion mark.

    3. THORchain (RUNE) – 109.4%

    THORchain is a liquidity protocol and cross-chain trading protocol that incentivises users to provide liquidity and create a marketplace for digital assets that can be traded trustlessly and permissionlessly without having to lock up one’s own RUNE tokens. THORchain enables users to swap digital assets located on virtually any blockchain regardless of its protocol.

    Liquidity providers are motivated to provide liquidity for THORchain by the fees they receive for the swaps performed in the liquidity pool they have created. Each liquidity provider reserves a relative share in the liquidity pool, which matches the share of the fees that is distributed among all THORchain liquidity providers for the swaps performed using the pool’s liquidity.

    The market capitalisation of THORchain has topped $0.16 billion.

    4. Uniswap (UNI) – 66.3%

    The UNI token representing the Uniswap decentralised exchange was another high-ranking DeFi token by the size of market capitalisation that saw considerable growth in November 2020. The token began with a serious drop to a historical low of 1.761 but quickly retraced the losses. The token was rising consistently through the first two weeks of the month and rose to a new all-time-high of 4.487 on 24th November but rapidly in the next two days to 3.10. At the end of the month UNI was 3.775, giving its owners a hefty monthly profit of 66.3%.

    The Uniswap market capitalisation has reached $0.97 billion.

    5. Synthetix (SNX) – 57%

    Synthetix is a decentralised exchange for any real-world derivatives that generates liquidity through incentivizing its users through a yield-making staking scheme. Creating synthetic assets, the users of the DEX can trade high premium bonds and the world’s leading companies.

    The SNX token reached a new all-time-high in November of 5.8305 but finished the month at 4.7436. The token’s market capitalisation has reached $0.59 billion.

    Conclusion

    The new approach to exchange liquidity put forward by the DeFi space has made a significant paradigm shift in the entire cryptocurrency market, opening up new opportunities for privacy and high liquidity. Proof to that is the data from Dune Analytics, showing  that since the beginning of October the value locked in decentralised applications has climbed to a record of over $14.4 billion.

    As the DeFi space has only recently started to attract large public attention and show substantial financial growth, DeFi assets may still have lots of profits in store. Meanwhile, the projects listed above could still make up a solid investment portfolio with reasonable risks and solid returns.

  • Coinbase Will Support Staking for Ethereum 2.0

    Coinbase Will Support Staking for Ethereum 2.0

    Key highlights:

    • The Phase 0 of Ethereum 2.0 was launched on December 1
    • Leading crypto exchanges like Coinbase have already announced support for Ethereum 2.0 staking
    • Ethereum 2.0 will bring a transition from Proof-of-Work to Proof-of-Stake

    Ethereum 2.0 is one of the hottest topics in the crypto world these days. Changing the consensus mechanism from Proof-of-Work to Proof-of-Stake will likely turn out to be a smart move for the Ethereum project, as it will greatly increase its scalability and also reduce its ecological footprint. The first step of Ethereum 2.0 was made on December 1 when the beacon chain for Ethereum 2.0 was officially launched.

    Coinbase and other leading crypto exchanges will support Ethereum 2.0 staking

    Coinbase is the biggest crypto exchange in the United States, and it has announced that it will be supporting Ethereum 2.0 staking. With the support from Coinbase, Ethereum 2.0 will get a nice boost towards mass adoption. 

    Coinbase affirmed its program in a blog post, and the exchange will support staking for ETH2 starting with early 2021. The Coinbase service is not limited to just staking, and customers can trade and convert ETH to ETH2. Ethereum is the largest Altcoin by market capitalization, and its markets enjoy high liquidity. Coinbase Pro is one of the biggest liquidity providers for the ETH/USD pair. Coinbase will release more details after launching the new features. 

    It’s not just Coinbase that will be supporting Ethereum 2.0 staking –  other exchanges like Binance and Huobi have announced support as well. The strong support for Ethereum 2.0 by leading cryptocurrency exchanges indicates that the crypto community expects a bullish future for Ethereum. 

    Ethereum 2.0 will bring massive improvements to performance and security

    The Ethereum 2.0 upgrade is of critical importance for the Ethereum project, and it will take a multi-year process before all the features are implemented and the transition from Proof-of-Work to Proof of Stake is fully completed. Ethereum developers believe the transition will decrease centralization, and help Ethereum become more resistant against attacks.  

    The beacon chain was cleared for launch after stakers placed a total of 524288 ETH into the Ethereum 2.0 deposit contract. However, ETH holders who participate in the staking won’t be able to withdraw their coins and staking profits until phase 1.5 is released. This process may take some years. In the meantime, companies are helping users here by offering intermediated staking, which will effectively permit them to still access their coins.

    The Phase 0 of Ethereum 2.0 went live on Tuesday, and it was a significant milestone for the project. According to the Ethereum Foundation, holders of Ethereum don’t need to do anything regarding the transition. The foundation explains the change doesn+t do much from the user`s viewpoint at the moment. The next step for Ethereum 2.0 will be in 2021, and it`l be a solution for the scalability issues of the Ethereum blockchain. 

    The ETH community can participate in staking, and they can also participate in testing each upgrade. Savvy users who find bugs in proposed upgrades can receive bug bounties as a reward for their endeavors. 

  • Crypto.com Secures an Australian Financial Service License

    Crypto.com Secures an Australian Financial Service License

    Preparations underway to issue cards in Australia

    HONG KONG, 2nd December, 2020 — Crypto.com is proud to announce that it has secured an Australian Financial Service License (AFSL). The AFSL was secured via the acquisition of The Card Group Pty Ltd, which was approved by Australia’s Foreign Investment Review Board. Terms of the acquisition have not been disclosed.

    Open Crypto.com Account

    Securing an AFSL is yet another milestone in Crypto.com’s long standing commitment to being licensed and working within the local regulatory frameworks in markets throughout the world. This news comes on the heels of Crypto.com’s recent announcements supporting AUD transfers in and out of the platform via BPAY and NPP.

    The Crypto.com Card is already the most globally available card of its kind. Having an AFSL paves the way for Crypto.com to begin local issuance of the Crypto.com Card in Australia. Equally important is Crypto.com’s ability to have a direct relationship with Australian customers and the Australian financial ecosystem. Crypto.com looks forward to working with local network schemes to speed the development of new features and functionality of products and services available to Australian customers.

    Kris Marszalek, Co-founder and CEO of Crypto.com said:

    “We are extremely proud to secure an AFSL and look forward to having a direct relationship with our Australian customers. We are committed to accelerating the world’s transition to cryptocurrency; working within the regulatory frameworks of the markets we operate in is a key pillar of achieving our mission.”

    About Crypto.com

    Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Visa Card, the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks. Crypto.com is headquartered in Hong Kong with a 600+ strong team. Find out more by visiting https://crypto.com

    For press enquiries: press@crypto.com

  • Binance Futures celebrates Ethereum 2.0 with a 320 ETH Giveaway Campaign

    Binance Futures celebrates Ethereum 2.0 with a 320 ETH Giveaway Campaign

    30 November 2020, 12:30pm UTC — Binance Futures is giving away 320 ETH, to mark the milestone launch of Ethereum 2.0 beacon chain genesis on 1st December 2020. The ETH 2.0 Celebration Campaign will run from 1st December, 2020 00:00AM to 15th December, 2020 0:00 AM (UTC).

    Open Binance Account

    Why is Binance giving away 320 ETH?

    Under Ethereum 2.0’s proof-of-stake mode, users will have to stake a minimum of 32 ETH to participate as a validator. To launch Ethereum 2.0 genesis phase, there has to be at least ~524,288 ETH staked and at least 16,384 validators.

    As of 30th November, ~851,232 ETH has been staked (etherscan link). Though the threshold to launch ETH 2.0 genesis phase has been met, ETH users may continue to stake if they wish.

    Binance Futures is giving 320 ETH to celebrate the event. 

    How does the 320 ETH Giveaway Campaign work?

    There are two parts to the 320 ETH Giveaway Campaign, as follow:

    • Promotion A: Lucky Draw for VIP tier-0 & VIP tier-1 users. Trade ETH/USDT to win 165 ETH Tokens.

    All VIP tier-0 and VIP tier-1 users are eligible to participate in the lucky draw. These users who accumulate the following minimum trading volume for ETH USDT-margined contract will be automatically enrolled in the lucky draw. There will be 320 winners sharing a prize pool of 165 ETH.

    Minimum Trading volume requirementNo. of WinnerPrize of each winnerTotal prize pool
    > 50,000 USDT641 ETH64 ETH
    > 20,000 USDT1060.5 ETH53 ETH
    > 5,000 USDT1500.32 ETH48 ETH
    Total320 Winners/165 ETH
    • Promotion B: ETH/USDT Trading Volume Competition to win 155 ETH Tokens

    All users will be ranked based on the total trading volume (including both buys and sells) for Binance’s ETH USDT-margined contract during the campaign period. There will be 50 Winners sharing 155 ETH.

    RankNo. of WinnerPrize of each winnerTotal prize pool
    🏅️Gold132 ETH32 ETH
    🥈Silver124 ETH24 ETH
    🥉Bronze116 ETH16 ETH
    4th – 10th75 ETH35 ETH
    11th – 50th401.2 ETH48 ETH
    Total50 Winners/155 ETH

    Where can I get more information?

    Users can visit the 320 ETH Giveaway Campaign webpage here for more information.

    For the campaign terms & conditions, please visit our official support page here.

    For media queries, please contact pr@binance.com.

    # # #

    About Binance Futures

    Binance Futures allows experienced users to trade crypto futures contracts with up to 125x leverage. Binance Futures’ NASDAQ level matching engine processes orders with ease with minimal latency (avg. 5ms at 100,000 orders per second). Learn more at: binance.com/en/futures. 

    Media Contact
    pr@binance.com

  • Top 3 Coins to Watch – Week 49

    Top 3 Coins to Watch – Week 49

    As we enter the last month of 2020, several cryptocurrency projects, including some of the top-tier ones are making continued progress and deploying updates to their mainnets.

    1. Ethereum (ETH)

    Ethereum is a decentralized blockchain platform and its native asset Ether (ETH) is the second-largest cryptocurrency by market capitalization. Ethereum features the Ethereum Virtual Machine (EVM), which can execute Turing-complete scripts. This gives Ethereum immense flexibility, allowing users to deploy a wide variety of smart contracts and decentralized applications (dApps) that operate in fast, immutable and trustless manner.

    Buy/Sell ETH

    The Highly Anticipated Launch of ETH 2.0 is Finally Here

    After a long wait and build-up, the ETH 2.0, which features a shift from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) algorithm, is finally here. The network gathered the necessary 16384 32-ETH validators 7 days ago, so the ETH 2.0 genesis is set to trigger on December 1, at 12:00 PM UTC time. The move to PoS could prove to be revolutionary for the Ethereum ecosystem as it will allow a much higher transaction output. More details can be found in the Ethereum’s last quick update prior to the launch of ETH 2.0.

    2. PIVX (PIVX)

    PIVX is a project whose name derives from Private Instant Verified Transaction. PIVX launched in 2016 and operates as a fully decentralized and open source project, which aims to provide optimum security and high privacy of its users and their transactions. Its protocol utilizes a CoinJoin-based mixing mechanism, which is administered via network masternodes, to scramble up the transactions.

    Buy/Sell PIVX

    zPIV to PIV Swap Deadline is December 1

    The PIVX team recently announced that all zPIV coins, there are PIV coins that had previously been minted to zPIV under the prior privacy protocol, must be converted back to PIV. The deadline for conversion was December 1 and users who failed to swap their zPIV to PIV by this date will lose their coins as the project discontinues support for v1 and v2 zPIV on both mainnet and testnet. Users were advised to use the PIVX desktop wallet to swap their coins without fees. More details regarding the swap process can be found here. In addition, the team is getting ready to roll-out a new version (v5.0) of the PIVX wallet, which features enhanced user data protection features.

    3. Cardano (ADA)

    Cardano is a cryptocurrency project focused on creating a smart contract enabled platform on which developers can build decentralized applications. The native asset of the Cardano blockchain is called ADA and the development of the project is overseed by three main organizations – the IOHK, Cardano Foundation and Emurgo. Cardano launched in 2017 and raised $62.2 million for its development through an ICO. What sets Cardano apart from Ethereum and other smart chains is that Cardano aims to implement advanced on-chain functionality and guarantee the scalability of the network.

    Buy/Sell ADA

    Trezor and Ledger wallets to fully support ADA in Q1 2021

    Charles Hoskinson, the inventor of Cardano and the CEO of IHOK shared updates concerning the development of the Cardano blockchain in a recently published video. Among other things, he revealed that the Cardano developers will continue to collaborate with Runtime Verification company for the launch of IELE and K.IELE is a virtual machine (VM), that will allow developers to create dApps in any popular programming language and then convert them and run them on Cardano blockchain. Hoskinson stated that the VM will be a perfect component to convert dApps from Ethereum to Cardano and that once completed it will make the Ethereum Virtual Machine (EVM) “look like a toy”.

    The project is also set to release its roadmap for year 2021 soon. Nevertheless, Hoskinson already provided a sneak peek into 2021, as he revealed that they are likely to be two major updates. The first will bring support for multi-assets and the second will bring full support for the Plutus platform. Furthermore, Cardano expects to fully integrate with Daedalus Trezor and Ledger hardware wallets in Q1 2021 or even by the end of 2020. ADA holders will then be able to partially stake their coins held in hardware wallets.

  • More than $4 bilion in crypto assets from the PlusToken ponzi scheme have been seized by Chinese police

    More than $4 bilion in crypto assets from the PlusToken ponzi scheme have been seized by Chinese police

    Key highlights:

    • The seizures amount to around 1% of BTC and 0.73% of the ETH circulating supply
    • The first-ever detailed breakdown of all seized assets has been released to the public
    • The scheme affected more than 2 milion people, for more than 50 bilion yuan (over $7.5 billion)
    • The court says that all the assets will “be processed pursuant to laws and the proceeds and gains will be forfeited to the national treasury”

    What was PlusToken?

    As with most fraudulent crypto investment schemes, PlusToken victims were promised high and consistent returns with minimal to zero risk. The operators of PlusToken said that the returns “earned” by investors were generated through arbitrage trading. In reality, there was no arbitrage trading going on – the returns were generated by distributing investments from new members to old members.

    Everything was covered well and the organization seemed to be using the funds for crypto-related product development, like the Plus Token Wallet and Exchange.  On top of that, there was a referral option for all memebers to invite other people to increase gains exponentially.

    PlusToken was seemingly functioning well until June 2019, when users started noticing issues with withdrawing their funds. At first, the organization reported problems with mining fees, but it was not long after people started to realise what was going on. The icing on the cake was a transaction with the note “Sorry, we have run”.

    Every story has an end

    Firstly, in the summer of 2019, Chinese authorities arrested six people in an attempt to shut down the organization. However, the stolen assets kept moving through wallets even after the arrests. This was an obvious sign that there were others involved still at large, and the government took further action to take everyone down.

    This time, the police outdid themselves by arresting 27 primary suspects who are thought to be responsible for the scam, as well as another 82 members who were a part of the organization. So far, 15 members have been convicted for 2 to 11 years in prison with fines between $100,000 and $1 million.

    Among the seized assets were many cryptocurrencies, mostly involving BTC.

    Police also identified more than $20 milion laundered by one of the members. The money was being distributed within the organization and their families, which was more then enough for a high-end lifestyle.

    Large amounts of cryptocurrency will be frozen during the investigation. This can cause several issues and unexpected changes with crypto prices, especially with BTC, due to the sheer amount of assets involved in the scheme. It is even believed that the massive BTC crash in March was influenced by the organization moving and cashing in large amounts of BTC.

  • How One Crypto Player’s Winnings have Reached $275k at CryptoSlots in Two Years

    How One Crypto Player’s Winnings have Reached $275k at CryptoSlots in Two Years

    Ever wonder if players really do get lucky from crypto casinos? Maybe not all, but we found one CryptoSlots casino player whose winnings have added up to a substantial $275k in wins in just two years of playing ($276,200 to be exact). David C is from California, and wisely started investing in Bitcoin in 2016 – in 2018 he decided to play at Bitcoin casinos with some of his savings, and the rest is history. Read our interview with him below.

    Bonus code CODEXNOV is valid for 100% match on deposits $25 – $500 until Dec 6th, 2020.

    Do you have a strategy?
    I only put in what I got out of crypto investing, I don’t play for hours on end – you have to be smart. I won a few thousand on the Jackpot game early on, got a huge win on Olympus High Limit version at one point. With bigger wins I like that I always set the money aside. Quit when you’re ahead. 

    But a lot of it as learning how the games work. I count the medium wins rather than hold out for bigger ones. And, at CryptoSlots, save up Jackpot Tokens and then play Jackpot Trigger for longer all in one go. 

    Have you always played online? 
    I’ve played slots online a lot before – only been to two actual casinos in my life to be honest with you. You have more control over what you’re doing when you’re online.

    What do you like about playing with Bitcoin?
    I don’t have to get my bank involved or wait for payments to come through – I know exactly where my money is at all times.

    Last but not least, what do you spend your winnings on?
    Well some of it goes back into playing, some I keep in crypto, some I spend. Last year we did a trip around Asia. We went jungle trekking in Malaysia, I got my diving certificate in Indonesia, stayed a few days in Singapore. It was out of this world, such a vacation. We were planning on heading to Norway this winter to see the Northern Lights but, unfortunately, that will have to wait thanks to this coronavirus.

    When asked his favorite games, David said he has a few favorites but largely alternates between the slots to diversify his crypto bets. So we took a look at his top ten games over the last six months and analyzed his payback ratio on each:

    GamePayback %
    Blazing Wilds High Limit98.30%
    Vegas Twin99.00%
    Vegas Vibes High Limit72.50%
    Hot Hit113.80%
    Neon Reels High Limit98.10%
    Jacks or Better77.30%
    Coin Rush105.80%
    Pyramid Plunder High Limit78.10%
    Eight Unicorns80.90%
    Blazing Wilds High Limit179.10%

    Interestingly, the High Limit games seem at a glance to be most volatile – offering the lowest payback ratio (Vegas Vibes High Limit at 72.5%) and the highest (Blazing Wilds High Limit at 179.1%). His standard video slot play produced more reliable wins but less chance of huge paybacks (e.g. Coin Rush at 105.8% and Vegas Twin at 99%).

    Of course, it all depends on how much is bet and for how long the game is played. David bet the least on both Jacks or Better and Pyramid Plunder High Limit – maybe his inclinations warned him that luck was lurking elsewhere, maybe he quit too soon and longer gameplay would have increased his payback ratio! A significant win can make the world of difference. 

    We always ask our players if they believe in luck, and just like David, most of them tell us it depends on the day. For now, it seems his strategies are literally paying off.

  • Macro Investor Dan Tapiero: BTC Could Reach as High as $500,000

    Macro Investor Dan Tapiero: BTC Could Reach as High as $500,000

    Key highlights:

    • Macro investor Dan Tapiero outlined his bullish stance on Bitcoin in an interview with Anthony Pompliano
    • According to Tapiero, Bitcoin can reach up to $500,000 if institutions start investing in BTC en masse
    • Tapiero says Bitcoin and gold will likely continue to coexist

    Dan Tapiero is bullish on Bitcoin

    Macro investor Dan Tapiero predicts that $15 trillion in capital will come to Bitcoin from institutions. If this happens, BTC’s price can go up to approximately $500,000. Tapiero, a famous figure in the gold investing world, believes a six-figure price tag for Bitcoin is probable, and it only needs time to occur. Tapiero shared his thoughts on Bitcoin with Anthony Pompliano on the Pomp Podcast.

    Tapiero believes investors should invest in both Bitcoin and gold, even though he thinks Bitcoin is superior to gold for many reasons. However, he also believes in gold’s unique characteristics, and he thinks big institutions can buy gold easier than Bitcoin in the current situation. 

    According to Tapiero, the coexistence of Bitcoin and gold will continue. He calls Bitcoin new technology compared to gold. He estimates fiat will remain in the future, and won’t go away soon. In his opinion, Bitcoin is something hard for people to understand, and its full understanding takes time. Tapiero says he thinks gold doubles in the next five years, while BTC could produce a 20x or 30x.

    He believes Bitcoin is protection against fiat currencies, and when its market cap is in the trillions of dollars, more significant investors can manage it easily. He thinks BTC has many more advantages than gold, and he is sure about Bitcoin’s better performance in the long run. 

    Many analysts are optimistic about BTC, including Off The Chain Capital CIO Brian Estes. He told Reuters that it would not be surprising surprising for Bitcoin to outstrip $100,000 in just one year. He estimates that BTC can go to $288,000 at the end of 2021. 

    Jim Cramer, who hosts the popular Mad Money show on CNBC, sees a bright future for BTC as well. Cramer believes Bitcoin offers excellent protection against inflation, and the new generation will understand it well. He thinks the new generation will move away from traditional assets like gold, and they will be more interested in crypto instead.

    Crypto is an ever-flourishing technology, and its mass adoption is on the horizon. There are many other bullish predictions regarding Bitcoin’s price action, and we’ve gathered some of the most interesting forecasts in the following article.

    Final thoughts 

    Bitcoin has significant potential as a new form of money that can revolutionize our financial system. However, diversification is a key in investment. Most investors will also invest in other assets such as equities, gold and real estate. For the Bitcoin market’s long-term growth, it is essential that Bitcoin attracts institutional investors. As Bitcoin is seen as more and more legitimate, many major players are now considering BTC as a good hedge against inflation.

  • BitPrime Partners with Simplex to Provide a Solution to Buy Crypto with Credit Cards

    BitPrime Partners with Simplex to Provide a Solution to Buy Crypto with Credit Cards

    First-to-market crypto offering in New Zealand enables a safe and convenient way to purchase crypto using debit and credit cards by joining forces with Simplex.

    Christchurch, New Zealand – 26 November 2020 – BitPrime, New Zealand’s leading cryptocurrency retailer, today announced it has partnered with Simplex, the market-leading fiat/crypto infrastructure provider. The partnership provides a safe solution for those wishing to buy cryptocurrency using a credit card or debit card (Visa or Mastercard).

    Available for the first time in New Zealand, the partnership takes advantage of Simplex’s fully protected, fraud-free platform for digital asset purchases and offers BitPrime customers yet another practical payment option to onramp to the crypto ecosystem.

    The option to purchase crypto with a credit card has been one of the most highly requested features by current BitPrime customers over the company’s three-year history. The partnership with Simplex enables BitPrime users to easily onramp with a trusted partner that has an industry reputation for transparency and security.

    The launch of this new payment solution comes as the price of Bitcoin reaches its highest since the all-time high of nearly NZD30,000 in February 2017.

    BitPrime has partnered with Simplex to utilise the company’s state-of-the-art AI technology that analyses the risk of every payment and actively blocks fraudulent users. Simplex also provides all users with award-winning customer support, available 24/7, should they need help to complete their purchases.

    Ross Carter-Brown, CEO of BitPrime, said “We’re taking cryptocurrency to the world. Our new credit card payment gateway allows us to service customers from 178 different countries. We know that New Zealand is a desirable jurisdiction to do business for many people, especially for financial services. That’s due to our strong personal property protections, political stability, and low corruption. Our partnership with Simplex is a crucial piece of infrastructure that will help meet that demand”.

    ”Simplex gives anyone, anywhere the ability to buy any digital assets easily and securely”, said Simplex founder and CEO, Nimrod Lehavi. “Our partnership with BitPrime empowers millions to onramp conveniently, using their bank cards.”

    BitPrime allows customers to purchase as little as $100 worth of cryptocurrencies and the newly launched payment solution also supports international customers.

    To learn more about this service, or to try it out, visit

    About BitPrime

    New Zealand owned and operated, BitPrime is at the forefront of full-service cryptocurrency trading solutions in the country. We’re passionate about our professional service and have a strong focus on providing free education and tech support for beginner’s through to professional investors. BitPrime is here to make it easy and secure to trade digital assets. BITPRIME LIMITED (FSP595609) Registered.

    About Simplex

    Simplex has been changing the status quo of crypto on/off ramps since 2014. As the market leader, Simplex pioneered the first riskless global fiat onramp using credit and debit cards, promising a zero-chargeback guarantee. Working alongside the biggest names in the crypto ecosystem, Simplex provides the complete fiat infrastructure for the cryptocurrency ecosystem. As a licensed EU financial institution, Simplex was selected as one of the 10 most impactful companies in blockchain in 2020.