New Zealand’s largest crypto savings platform startup Vimba expands to UK
Vimba, the largest cryptocurrency exchange and the longest running crypto platform in New Zealand, is expanding its crypto savings service to the United Kingdom. UK residents can now buy bitcoin and other crypto from its website. Building on its success in New Zealand, Vimba, formerly known as MyBitcoinSaver, will provide UK residents looking to diversify their traditional portfolio or invest for the first time with a dollar cost average investment strategy, involving scheduled purchases of Bitcoin and Ethereum, starting at £10 a month.
Founded in 2014 Sam Blackmore, Vimba offers a simple way for all New Zealanders to invest small weekly amounts in Bitcoin. Vimba’s user base is soon to eclipse the 6,000 mark with its launch in the UK. Vimba brings a disciplined approach to digital asset investment to one of the most important crypto markets. The UK launch will provide everyday investors with the opportunity to engage with crypto assets in regular intervals and in smaller increments, as part of an overall strategy to weather the bear market and encourage the long-term growth of the industry.
Sam Blackmore, Founder and CEO of Vimba, said: “The UK is a particularly interesting market, with a large appetite for digital asset classes, but a sensible and considered approach to risk. Many investors enjoy the ability to dabble in this nascent and fast-evolving industry, while also enjoying new financial freedoms and experiences. The current market conditions actually make a good case for the tried-and-tested Dollar Cost Averaging technique involving smaller investments over time, which can be considered an effective way to avoid speculative bubbles and market volatility.”
Vimba’s subscription service offers users the choice to set up a predetermined investment amount each week through scheduled bank payments, and investments can be customised according to users’ preferences. As part of its launch, Vimba will be offering UK-based users 0% service fees for the first 30 days.
Fran Strajnar, CEO of Techemy and Director of Vimba, said: “Vimba’s UK expansion highlights the growing demand for sensible investment strategies within the cryptocurrency market. Cryptocurrencies present new opportunities for financial freedom that can outlive market fluctuations. These opportunities, however, can be out of reach for everyday investors due to lack of capital and lack of accessible services. In order for cryptocurrency to fulfil its original intention of democratising wealth, access must be available to everyone with an interest, not just the experts, career traders, and traditional big investors.”
The announcement of Vimba’s entry into the UK market follows the platform’s recent grant from Callaghan Innovation, a government agency supporting the development of New Zealand’s high tech business sector. The $126,000 NZD grant will assist the company’s expansion of its current service offering, including the introduction of new cryptocurrencies to the platform and scaling the network to support a broader customer base.