“We have both been investing in cryptocurrency for a number of years, and have a strong belief in the potential of cryptocurrency and blockchain to improve the world and change how society and our economies work,” says Janine Grainger.
“However, we had lots of friends and family wanting to get into it who found it very daunting and didn’t know where to start. There were plenty of barriers to entry, and they didn’t know what to do.”
The Graingers then developed Easy Crypto, a platform that they say is the only end-to-end service in New Zealand. The platform launched in early 2018.
It helps users buy cryptocurrency and set up an online wallet they can use to store investments. So far New Zealanders are investing an average of $844, although investment options range from $100 up to $10,000.
You may think that a family business like this could lead to some tricky situations, but they say that it has worked well so far.
“Alan and I have really complementary skill sets, which is perfect for this kind of project,” says Janine Grainger.
“Alan does all the tech – he built our MVP in a week – and I bring the financial services and compliance expertise. Those complementary skill sets weren’t something we were consciously aware of before, but now we’re very aware that neither of us could have gotten it off the ground or could continue to run it without the other.”
Alan Grainger adds that the platform basically exists who want to try out cryptocurrency investment, not so much for those who want to invest huge amounts or their life savings into crypto.
While some cryptocurrency platforms are plagued by scams, the Graingers were careful to establish Easy Crypto as a legitimate and trusted business in New Zealand.
“Most cryptocurrency businesses get a bank account and when it gets shut down they just move to the next bank,” explains Janine Grainger.
“We wanted to do it right – working with the banks rather than working around them – so that the banks have trust in what we’re doing and our customers have confidence that we’ll do right by them. While it may take time it means we do it the right way – and it gives us a good chance of still being here in ten years.”