Story image

Ethereum Classic & Litecoin cryptocurrencies now available in NZ

28 Sep 2017

New Zealanders are now able to buy and sell two alternative Bitcoin cryptocurrencies in New Zealand dollars through locally-based brokerage firm BitPrime.

Kiwis now have access to Litecoin (LTC) and Ethereum Classic (ETC) alongside the Bitcoin, Ripple and Ethereum cryptocurrencies that are available on BitPrime’s website.

According to BitPrime senior partner Ross Carter-Brown, cryptocurrencies have become increasingly popular in New Zealand. The total cryptocurrency market capitalisation is around NZ$188 billion, an 830% increase since August 2016.

“The popularity of cryptocurrencies in NZ has been increasing rapidly, with trade volumes having grown more than eight-fold since we launched in March,” Carter-Brown says.

While Bitcoin is the most well-known and ‘golden’ of all cryptocurrencies, Ethereum Classic does around NZ$47 million turnover per day.

Bitcoin alternatives are popping up all over the place at a 1520% increase over the last year – a market capitalisation of around NZ$3.7 billion.

BitPrime cites the example of a Bitcoin success story, in which a Norwegion investor sunk $27 in Bitcoin in 2009. He checked his Bitcoin wallet four years later to find the value had reached $886,000.

The Litecoin cryptocurrency was developed by Charles Lee, an ex-Google engineer. It has faster transaction confirmation than Bitcoin and also has a higher coin limit of 84 million.

BitPrime says that theories around Litecoin suggest it has a faster block time, reducing ‘double spending’ attacks and thus making the process more secure.

Ethereum Classic is a split of the original Ethereum blockchain. It uses ‘smart contracts’. Similar contracts are being used in industries like real estate and insurance.

BitPrime says it can source almost any cryptocurrency from its asset-class to customers through the use of custom orders. It offers phone and email support.

“We aim to make cryptocurrencies easily available to everyday New Zealanders, and expanding our offering is part of achieving that goal,” Carter-Brown concludes.

New threat rears its head in new malware report
Check Point’s researchers view Speakup as a significant threat, as it can be used to download and spread any malware.
Oracle updates enterprise blockchain platform
Oracle’s enterprise blockchain has been updated to include more capabilities to enhance development, integration, and deployment of customers’ new blockchain applications.
Used device market held back by lack of data security regulations
Mobile device users are sceptical about trading in their old device because they are concerned that data on those devices may be accessed or compromised after they hand it over.
Gartner names ExtraHop leader in network performance monitoring
ExtraHop provides enterprise cyber analytics that deliver security and performance from the inside out.
Symantec acquires zero trust innovator Luminate Security
Luminate’s Secure Access Cloud is supposedly natively constructed for a cloud-oriented, perimeter-less world.
Palo Alto releases new, feature-rich firewall
Palo Alto is calling it the ‘fastest-ever next-generation firewall’ with integrated cloud-based DNS Security service to stop attacks.
The right to be forgotten online could soon be forgotten
Despite bolstering free speech and access to information, the internet can be a double-edged sword, because that access to information goes both ways.
Opinion: 4 Ransomware trends to watch in 2019
Recorded Future's Allan Liska looks at the past big ransomware attacks thus far to predict what's coming this year.