Showing posts with label New Zealand. Show all posts
Showing posts with label New Zealand. Show all posts

November 29, 2017

1 Million Yen, 100 Million INR – Bitcoin sets new price milestones on International Markets

By Samuel Haig - November 28, 2017 (

With all eyes on bitcoin’s meteoric break of $10,000, less attention has been paid to the price milestones recently established on leading international markets. In recent weeks, the CAD, AUD, NZD, and SGD pairings also surpassed $10,000, whilst a single bitcoin exceeds 500,000 RUB in Russia, 1 million JPY in Japan, 10 million KRW in South Korea, and 100 million IDR in Indonesia.

The Price of Bitcoin Exceeds 1 Million Yen in Japan

As Japan is currently host to more than 60% of global trading volume, reaching the seven-figure milestone on the JPY markets is a big deal for bitcoin. According to cryptocompare, bitcoin broke above one million JPY at approximately 7 pm on the 25th of November EDT. The current JPY/BTC price as of this writing approximately (1:30 am November 29th EDT) is roughly ¥1,300,000

Seven hours after bitcoin broke above one million JPY, the South Korean bitcoin markets reached 10,000,000 KRW for the first time ever. Currently, the Korean markets account for 10% of 24-hour trading volume, comprising the third-largest bitcoin market behind the United States. The current KRW/BTC price is approximately ₩12,600,000.

Bitcoin Tests $15,000 in Australian, Canadian, and Singaporean National Markets

With the exception of an anomalous spike in the AUD/BTC price at the end of October, cryptocompare’s price index indicates that AUD trade convincingly exceeded $10,000 for the first time on November 16th at 4 pm EDT. AUD trade comprises the fifth largest national market with roughly 0.45% of 24-hour bitcoin trade. The current AUD/BTC price is approximately $14,400.

Singapore hosts the seventh largest national bitcoin market equating for roughly 0.34% of total trade. The SGD/BTC price broke above $10,000 for the first time at 11 pm on November 15th EDT and is now currently trading for $14,300 approximately.

Canadian trade presently accounts for 0.2% of 24-hour trading volume, comprising the ninth largest national market. The CAD price of bitcoin broke above $10,000 for the first time at 2 am on November 17 EDT, with CAD/BTC currently trading for $13,300.

Other Major Price Milestones on International Markets

At approximately 11 pm on the 25th of November EDT, the price of bitcoin exceeding 150,000 ZAR in South Africa for the first time. ZAR trade comprises the eighth largest national bitcoin market – comprising 0.25% of 24-hour trade.The current ZAR/BTC price is approximately ZAR167,000.

Indonesia’s bitcoin markets comprise approximately 0.1% of 24-hour trading volume, currently making such the fourteenth largest national market. The IDR/BTC price broke above 100,000,000 rupees at 9 am on November 1st EST, and at approximately midnight on November 29th EDT established a new milestone of over 150,000,000 rupees.

Russian bitcoin prices broke above RUB 500,000 for the first time at 11 pm on November 25 EDT. RUB/BTC trading presently comprises the fifteenth largest national market, representing approximately 0.1% of 24-hour trading volume. Bitcoin is currently trading for approximately RUB 600,000 in Russia.

Images courtesy of Shutterstock

Samuel Haig

Samuel Haig is a cryptocurrency and economics journalist who has been passionately involved in the bitcoin space since 2012. Samuel has written about the disruptive potential of cryptocurrency with regards to the dialectical relations within contemporary neoliberal capitalism.

November 10, 2017

This Kiwi Startup Delivers Bitcoin to Users on a Subscription

By Samburaj Das - November 10, 2017 (

A bitcoin startup in a New Zealand is making the process of adopting bitcoin easier for new users via a dedicated savings platform.

As bitcoin price soars new all-time highs in an unprecedented boom, the world’s most popular cryptocurrency is gaining awareness among retail investors globally. In New Zealand, a bitcoin startup called ‘My Bitcoin Saver’ is brokering the process of buying the cryptocurrency through an offshore exchange to deliver bitcoin on a weekly basis.

“When you deposit your money to us with your reference number on a Monday, we wait for the bank to clear it and then send it to Europe’s biggest Bitcoin exchange where we buy Bitcoin that Friday,” explains BitcoinSaver on its website, before sending users their bitcoin to their own nominated wallets.

My Bitcoin Saver enables users to sign up for weekly automatic payments between $10 and $200 on Monday, every week. The platform then uses the funds to buy bitcoin from a major European bitcoin exchange, in bulk, before redistributing it to users on its platform on Friday, every week.

“Bitcoin is really expensive to buy in small amounts and difficult to buy in small amounts,” CEO Sam Blackmore told Newshub…” so what we do is buy in bulk for people and we have a distribution engine that speeds it out.”

Earlier this year, BitNZ, a New Zealand bitcoin exchange, revealed it was left with no choice but to shut down after a banking blackout brought on by a refusal of multiple banks to allow bank accounts for bitcoin trading despite the exchange complying with KYC and AML (Know your customer and Anti-Money Laundering) regulations.

On its website, By Bitcoin Saver claims to cater to nearly 2,300 users who have seen value gains of 433% since offering the service.

The startup has now raised $400,000 from an unnamed financial services provider to expand its presence and business into the UK, ahead of plans to launch in Australia and the United States.

Featured image from Shutterstock.