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Three incredibly powerful features of Easy Crypto

The exchange forces you to hold crypto in your own wallet. But the real kicker is a tool for dollar-cost averaging.
The Auto-Buy order template is great for newcomers, allowing them to set up an automated R400 or R1 000 purchase of bitcoin on the same day each month. Image: Shutterstock

Easy Crypto is an international exchange headquartered in Auckland, New Zealand, with a steadily growing client base in South Africa.

Like so many international companies in crypto, there’s a South African link: Lloyd Brown, head of emerging markets, is originally from SA, though he emigrated to Auckland 16 years ago.

The company was founded in 2017 by brother and sister Alan and Janine Grainger, combining their experience in IT and financial services to create what has become New Zealand’s largest crypto exchange with an estimated 90% market share.

It has since expanded to Australia, the Philippines, Malaysia, Indonesia and SA. The company is licenced in New Zealand, Australia and the Philippines, and will apply for a licence locally as soon as crypto regulations are introduced in SA.

Easy Crypto has more than 7 000 clients in SA, though the figure is growing fast.

Ironically, sign-ups spiked when Tesla CEO Elon Musk started tweeting about Dogecoin and his belief that it could replace bitcoin as a means of payment and as a store of value.

“It was surprising that Elon Musk would back Dogecoin, which was really started as something of a joke rather than a serious cryptocurrency, but Dogecoin became a gateway to the crypto world for many people,” says Brown.

Moneyweb asked Easy Crypto what sets it apart from the SA incumbents in the crypto space.

It boils down to broadly three factors, all of them extremely powerful draws:

  1. Easy Crypto does not hold your crypto on the exchange. It forces you to open a wallet of your own and in the process educates you about the risks of crypto wallets (this only takes a few minutes and this video walks you through the steps).
  2. A dollar-cost averaging tool that automates your monthly (or weekly) investment in crypto. This is such a simple tool it is surprising more exchanges don’t do it. We’ve written about it before here.
  3. More than 100 cryptocurrencies are available, a wider range than is typically available in SA, with no hidden fees.

Had you been investing R400 a month for the last four years you would have invested a total of R4 800, generating an incredible return of nearly R34 000. That’s a percentage gain of 607%, despite two horrendous crashes in the bitcoin price.

What investing R100 a month into bitcoin looks like over four years.

Source:www.dcabtc.com

Easy Crypto allows you to automate what cryptocurrencies you want to buy and when.

You can schedule your crypto purchases to match your cash inflows under Easy Crypto’s Auto-Buy order template. This is a great feature for newcomers to crypto, allowing them to set up an automated R400 or R1 000 purchase of bitcoin on the same day each month.

“Dollar-cost averaging – or rand-cost averaging if you are in South Africa – has been shown to be an incredibly simple strategy for growing your wealth in bitcoin,” says Brown. “The idea is to encourage a habit of saving in cryptos without paying attention to the daily moves in price, which can be extremely volatile.

“Dollar-cost averaging has been shown to be a smart way for newcomers to cryptos to get involved.”

The fact that Easy Crypto forces you to keep your cryptos in your own wallet (rather than one provided by the exchange, as is normally the case) may seem like an inconvenience or irritation, but here’s why this is a smart move:

  1. Should the exchange fail, or get hacked, your crypto is safe. Easy Crypto does not store any of your funds or your private keys (which secures your funds); this means you are in control at all times. Therefore, your funds are on the exchange for just a couple of minutes while buying, selling, or transferring funds. Once the transaction is complete, the funds are again safely stored in your own digital wallet.
  2. Easy Crypto has access to your funds for just a minute or two. The exchange has some useful tools and stats, for example, the average order processing time, the top 10 coins by trading volume (bitcoin wins by a country mile, but what comes after that is rather surprising). You can check these stats out here.
  3. Easy Crypto provides 100% guarantee against any loss of funds while those funds are under its control. It has yet to have to pay out a single claim. “That’s because we take the safety of our customers’ funds very seriously,” explains Brown.

How to set up your Atomic Wallet (or any other wallet of your choice, such as Metamask):

  1. Go to atomicwallet.io.
  2. Hit the download button (you’ll be prompted for the device you are using).
  3. Once the download is complete, open Atomic Wallet. You will be presented with the launch page – hit the ‘New Wallet’ button and you will be asked to choose a password.
  4. Very important: You will then be presented with a 12-word backup phrase that will be the key to recovery of any crypto assets stored in your wallet. Do not store these 12 words on your computer (which, if hacked, leaves the hackers with access to your Atomic Wallet). Write these 12 words down and store the piece of paper in a safe place.
  5. Open an account with Easy Crypto at easycrypto.ai. You are ready to start buying and selling cryptos.
  6. Follow the instructions on this Youtube video which explains how to link your Atomic Wallet to the Easy Crypto exchange. This also explains how you can fund your account by transferring funds from your bank account.

It’s clear that Easy Crypto is planning to become a force in the SA and African crypto market.

You can find out more here.

Brought to you by Easy Crypto.

Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.

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