Sharesies to allow trading in Bitcoin and other cryptocurrencies

Sharesies, an online investment platform, is making a significant move into the realm of cryptocurrency trading. Co-chief executive Leighton Roberts announced this new development, citing the growing demand from their customers as a driving factor. Roberts emphasized the increasing interest and ownership of cryptocurrencies among the public and the evolution of this asset class into a more mainstream investment option for both individuals and institutions.

In recognition of this shift, Sharesies aims to streamline the process of investing in cryptocurrencies and make it more accessible to everyday New Zealanders. By partnering with a major cryptocurrency platform, Sharesies intends to simplify the complexities associated with crypto wallets and private keys, enabling retail customers to easily trade and hold cryptocurrencies like Bitcoin and Ethereum.

While the allure of the cryptocurrency market is undeniable, Roberts also highlighted the inherent volatility and risks involved. In response to these challenges, Sharesies plans to take an educational approach, offering various initiatives to support and inform customers about the intricacies of crypto investing. Roberts acknowledged that cryptocurrencies might not be suitable for everyone but emphasized the importance of providing individuals with the freedom to make informed choices about their investment options.

Bitcoin, one of the leading cryptocurrencies in the market, has shown significant price fluctuations this year, ranging from US$77,000 to US$120,000. This volatility underscores the need for caution and awareness when venturing into the realm of digital currencies. Despite the risks involved, Sharesies remains committed to empowering its customers and providing them with access to diverse investment opportunities, including cryptocurrencies.

Interested Sharesies customers can sign up for an early access waiting list to begin trading cryptocurrencies as soon as the feature becomes available, expected to launch in August. By expanding its offerings to include cryptocurrency trading, Sharesies aims to cater to the evolving needs and interests of its diverse customer base, ensuring that they have access to a wide range of investment options to build a well-rounded portfolio.