What Is MyBitCoinSaver?
At its most basic, MBS is a way to drip feed a regular investment into Bitcoin.
You pick an amount you want to invest, set up an automatic payment, and then get a delifery of Bitcoin each week.
You don’t need to muck around with buying on exchanges or anything like that. Using MBS also gives the opportunity to “dollar cost average”. I’m not going to get into the specifics of investing strategy here, but suffice it to say that dollar cost averaging can be a great way of smoothing out the dips and peaks that come all the time with cryptocurrency.
Who Can Use It?
New Zealand residents with NZ-based bank accounts only.
Does It Cost?
Only cost are the transaction fees. Basically, MBS just takes a small cut of any payments you put through.
How Does MyBitcoinSaver Work?
The process of using it is simple.
Firstly, you will need a Bitcoin wallet and address – something like Blockchain.info will do fine.
Secondly, you go and sign up for a free MBS account. This is a 30 second process.
After you’ve done that, MBS will provide you with a bank account number and a unique reference number. You need to set up an automatic payment to leave your account on a Monday, anywhere from $20 to $200 NZD. You can’t go over $200 due to stupid money laundering and anti-terror laws that were passed not too long ago in NZ.
Your transfer is then converted into Bitcoin and deposited into your nominated wallet on Friday/Saturday of the same week.
Is There Support Available?
Yes – I’ve had written communication via email with a real-life support person based in New Zealand. The support is extremely good.
Is MyBitoinSaver worth using? Almost certainly (if you quality for the service). It’s a seriously easy way to squirrel away some money into Bitcoin each week, and dollar cost average your investment.
The fees are reasonable (at least in my mind) and the service is fast and easy. What more could you want?
I’ve been using MBS for just over 2 years now and found it an easy, effective and reliable way of investing into crypto, as well as smoothing out the peaks and troughs that come with this relatively volatile investment medium.
If you’re looking to buy Bitcoin in New Zealand, then MyBitCoinsaver should be high on your list of options to look at!
Go here to sign up for MyBitoinSaver now.