Friday, October 11, 2024

Janine Grainger Easy Crypto: Navigating Challenges in the Crypto World

In a world where cryptocurrency can seem like a foreign language to many, Janine Grainger, the co-founder of Easy Crypto, is on a mission to make digital assets accessible and understandable for all. From humble beginnings in a hammock in Bali to transacting over NZD$2.5 billion in just four years, Janine’s journey is as inspiring as it is unconventional. In this exclusive interview, Janine shares her insights on navigating the challenges of the crypto landscape, the importance of digital trust, and her plans for the future of Easy Crypto. Join us as we delve into the world of cryptocurrency with a visionary leader who is breaking barriers and shaping the future of finance.

Interviewee Name: Janine Grainger

Company: Easy Crypto

Interview Host: Jesse Samberg

The Interview

Let’s get started. First, we’d like to know more about how you started your business journey

Janine Grainger : Janine’s journey is as unique unexpected as it is inspiring – from leaving school early (aged 15) to pursue her ambitions, to starting a business from a hammock in Bali. Easy Crypto was born out of Janine’s vision to make cryptocurrency accessible and understandable for everyone, regardless of their background or experience. With her brother Alan, she established Easy Crypto in 2017 with a mission to offer a secure, simple, and easy-to-understand way for people to get involved in the cryptocurrency market. Despite the unconventional beginnings, Easy Crypto quickly gained traction, transacting over two billion dollars and supporting over 250,000 users across New Zealand, Australia, and South Africa within just four years.

Reflecting on your business history, what stands out as the single greatest challenge you’ve successfully navigated, and how did you overcome it?

Janine Grainger : Crypto is misunderstood. I know it is awesome and can be the easiest, fastest way to transact but has its challenges we had to face as we built Easy Crypto.

Looked at through a different lens, crypto has some serious barriers to entry that can deter potential investors and users from joining the digital currency revolution; and it’s time we owned and addressed them. We make crypto easier for everyone and want to help educate the “crypto curious” from all walks of life not just tech savvy 25-year-old males, which has been the investor stereotype.

Businesses often face ongoing challenges. What does your business consistently grapple with, and how do you tackle these challenges head-on?

Janine Grainger : Crypto has undoubtedly been the answer to many ‘banking woes’. It provides an alternative to traditional banking by offering decentralisation, lower transaction fees and quicker cross-border transfers.

But even as it addresses some of these long-standing issues, it introduces new challenges that have come to be known as ‘crypto woes’.

Two of the biggest of these are volatility and complexity. The price of crypto and digital assets can fluctuate wildly over short periods, posing challenges for real-world use cases and widespread adoption.

In addition, managing various coins, understanding multiple blockchains and dealing with the intricacies of digital wallets can feel like navigating a maze without a map.

Can you share with us the most unforgettable story involving a customer or client? What made it memorable, and what lessons did you draw from the experience?

Janine Grainger : We have seen a spike in new customers over the past few months. The New Zealand launch of our wallet has changed the game for customers. We are expanding it to other countries very soon too.
Alongside NZDD, Easy Crypto is releasing a user-friendly crypto wallet that simplifies trading and storing digital assets like NZDD. “Managing your crypto shouldn’t be daunting; you certainly shouldn’t need a collection of different wallets. We aimed to simplify the crypto experience by offering a secure, all-in-one solution to seamlessly store and manage digital assets, suitable for everyone from beginners to seasoned crypto investors,” Grainger expounded.

Stablecoins, cryptocurrencies backed by reserve assets, offer transaction swiftness, security and efficiency features of crypto with the reliability of the underlying asset. For beginners, NZDD provides a stable platform for investing in the digital world. Established investors and traders can count on NZDD for stable value storage and liquidity.

NZDD’s wider application aims to propel New Zealand forward in the digitisation journey. Grainger expressed, “NZDD will help give New Zealand a digital, programmable currency that can do everything the NZD can do, but faster, more efficiently and in a way that is interoperable with the future digitisation of assets”.

The crypto wallet launched by Easy Crypto is designed to guarantee simplicity and safety for any individual aspiring to manage their cryptocurrency. The wallet enables users to manage multiple accounts within the wallet and transact with a growing list of popular cryptocurrencies and tokens. It also offers innovative security and recovery features, including multi-party computation (MPC) for enterprise-grade security and Social Recovery feature for easy recovery of the wallet.

Grainger concluded by highlighting the significance of these two releases for Easy Crypto, stating, “The launch of not just one, but two industry-shaping products is a proud moment for our team, and one that we’re confident will continue to drive even broader uptake of crypto.”

Another example of this is Easy Crypto’s NZ dollar backed ‘stablecoin’ – NZDD – which bridges the gap between traditional finance and the digital age.

NZDD brings the benefits of digitisation to the New Zealand Dollar; backed 1:1 with Kiwi dollars held in a bare trust; meaning your NZDD is safe and flexible.

For first-time investors, NZDD offers a stable way to start investing in the digital world and a ‘safe haven in the crypto storm’.

For experienced investors and traders, NZDD is a stable store of value and liquidity. They also make it a doddle to send money overseas – they’re available 24/7, faster than banks and cheaper than most (if not all) money exchangers/remittance businesse

Looking ahead, what are your current plans for your business when you retire?

Janine Grainger : That is a long way off! I am not even 40 yet.

Navigating the small business landscape can be both challenging and rewarding. Can you share a bit about the specific hurdles you’ve encountered in areas like sales, marketing, and adapting to changing customer trends?

Janine Grainger : Our business really took off during the Covid19 pandemic lockdown. In late 2017, Easy Crypto was born with the goal of making crypto assets accessible and understandable for all, so everyone can benefit. My Co-Founder and brother built our first website while lying in a hammock in Bali; while I worked on the strategy and business plan from my home in Auckland.

We may have been ‘locked down’ over the pandemic, but we were not ‘locked out’ of innovating and we soon had hundreds of people investing through our exchange. We’ve since transacted over NZD$2.5 billion in total sales to date.

Crypto really is entering the mainstream – including institutional investors – and our mission is to leave no one behind.

As a leader in the tech world, you’re involved in shaping policies and digital trust. How do you explain the importance of this work to everyday people who might be new to understanding digital currencies?
By their very nature, blockchain technologies foster digital trust because they are resistant to tampering or fraud. However while the underlying tech is incredibly safe and trustworthy, there’s always challenges when tech meets real life. For digital assets in particular some of the biggest risks are around scams – which can range from massive frauds like FTX to a direct message on a social media platform offering you a ‘too good to be true’ investment opportunity.

Leaders Perception magazine would like to thank Janine Grainger and “Easy Crypto” for the time dedicated to completing this interview and sharing their valuable insights with our readers!

Interested in connecting with the host of this interview series? Feel free to reach out to Jesse Samberg on LinkedIn: Jesse Samberg’s LinkedIn Profile

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