Easy Crypto hits $10 million turnover in under 16 months
Auckland, New Zealand – Tuesday 11 June 2019 - Move over millennials, the baby boomers are here and they’re branching out into cryptocurrency as an asset base with Easy Crypto seeing an increasing demand from the older demographic for the digital currencies.
The Kiwi crypto-currency retailer, which was established 16 months ago by brother and sister duo Alan and Janine Grainger, is experiencing rapid growth, turning over $2 million a month.
“Easy Crypto has seen strong, continued growth in the 16 months since we launched,” Janine Grainger says. “Sales for April were more than five times higher than the previous year, and volumes have doubled in just the last two months.
Along with the growth is a changing demographic as cryptocurrencies move increasingly mainstream.
Grainger says while millennial males continue to be Easy Crypto’s single largest cohort, in April 2019 more than 20% of the digital currency retailer’s new users were aged 55 and older, with many using Easy Crypto to help them diversify their retirement savings.
“I’ve had some fascinating conversations with people in their 60s, 70s even into their 80s who are diversifying their assets into crypto currency,” she says.
“They’ve very well educated about it and see it as a smart move to take a portion of what they’ve saved and put it into this.”
Grainger notes that Easy Crypto’s top spending customers are females in their 50s.
Easy Crypto was established with the intention of providing an approachable entry into the crypto market, demystifying digital currencies and providing a safe, simple and secure way for consumers to get involved in the market.
The full-service digital currency retailer offers end-to-end transactions in under two minutes, with no prior experience or specialist knowledge needed. More than 50 currencies, including well-known names such as Bitcoin and Ethereum, are on offer through the retailer.
“It also offers an automatically created encrypted cold storage wallet as part of its Easy Crypto Secure Wallet - a unique service which Easy Crypto considers to be a world first. A cold wallet is one which isn’t connected to the internet or any software, which makes it much more secure.”
Crypto for property sales
The diversifying customer base comes as Easy Crypto makes its first foray into the property market, with a property on Auckland’s North Shore being offered for sale by Century 21 with either half bitcoin and half cash or all bitcoin payment wanted by the owners.
The deal is a first for Easy Crypto which will manage the crypto aspect of the sale and assist with paperwork to ensure the legality of the sale.
Grainger says crypto sales have the benefit of enabling an instant fund transfer from anywhere in the world, no loss of value due to currency differences and big savings on fees related to the transactions.
“The diversification of our customer base, and the interest in using crypto currency for large value assets such as property, highlights the increasing acceptance of the digital currencies,” Grainger says.
With that in
mind Easy Crypto are looking at partnering with wealth
managers who want to help their customers diversify into
this fast-growing market, or alternatively may be interested
to engage with millennials, who form the bulk of Easy
Crypto’s customer base.