Following the massive price-explosion of Bitcoin and various other crypto currencies, more and more people have become interested in building a Bitcoin-based virtual asset portfolio. On one hand, having some BTC might just yield a nice profit down the line, but more importantly, it might give one a stake in the currency of the future. MyBitcoinSaver is a solution for people who find it difficult or impossible to channel more or less significant funds into a Bitcoin investment. It provides a painless path towards a healthy crypto portfolio, and it does so in a way that does not require much of an effort on the part of the user either.
Now, before you spend 5 minutes reading this review, note that MyBitcoinSaver currently only provides service to residents of New Zealand. Although, on their site it is stated that they are “working on launching worldwide, starting with the UK. If you are a UK resident interested in our service please submit your email address here and you’ll be among the first to know when we publicly launch.” Whether you’re in NZ or not, if you’re thinking about investing in Bitcoin, you should read our Cryptocurrency Investment Guide.
What exactly is MyBitcoinSaver?
…or rather: what exactly does it do? Unlike some of the endlessly convoluted crypto schemes out there – most of which turn out to be Ponzis and other scams – MyBitCoinsaver’s business model is extremely simple. Users who set up an account with the operation, can then deposit fiat money. Once the deposit clears the bank, MyBitcoinSaver takes it and buys bitcoins with it, at Europe’s largest crypto exchange. The virtual coins are then deposited into the user’s wallet. The whole process can be automated, meaning that users can set up automatic payments to MyBitcoinSaver, payments which will result in an automatic trickle of bitcoins into their wallets. This way, massive Bitcoin portfolios can be built up over time. The user retains full control over how much money he/she sends to MyBitcoinSaver, at all times.
Ad
 | Were you SCAMMED online? Recover Your Money Now! |
 | Crypto Betting Platform (CFDs) |
 | Regulated Crypto Broker |
 | Best International Crypto Exchange - Buy/Sell BTC & other Cryptocurrencies |
MyBitcoinSaver’s revenues are derived from the commissions charged for the above described services. The operation is indeed legitimate, feasible and its reputation is good too.
The site provides an actual timeline for individual weekly payments. Money deposited on Mondays, will lead to bitcoins hitting the wallet the upcoming Friday.
The setting up of a MyBitcoinSaver account is very simple too. One needs to have a Bitcoin wallet (any service will do, but MyBitcoinSaver recommend Copay). The opening of a MBS account only takes a minute or two.
Besides the above described Bitcoin-accruing service, MyBitcoinSaver also offer their clients Trezor Wallets. These wallets are hardware wallets, which provide 100% theoretical security for their users. The wallets cost some NZD 199.
The Fees
The exact fees charged on every Bitcoin buying operation have been made public in the FAQ section of the MBS website. The various transfer fees amount to about 1%. The MBS fee (MBS’ source of revenues) is 3.5%.
Should I Trust MyBitcoinSaver?
Yes. As said above, there’s nothing about the operation to indicate any sort of financially dubious mechanism. It provides a legitimate service for a legitimate cost, and while the service itself may not be attractive to some people, it is transparent, fair and real indeed.
Transparency is the key word with such operations, and there is absolutely nothing wrong with MyBitcoinSaver in this regard either. The About Us section makes it perfectly clear who the people behind it all are. The CEO is apparently Sam Blackmore, a Kiwi bitcoin enthusiast. The COO is Matt Gibson, a friend of Blackmore’s. The pictures posted appear to be legitimate as well.
Ad
| Were you SCAMMED online? Recover Your Money Now! |
| Crypto Betting Platform (CFDs) |
| Regulated Crypto Broker |
| Best International Crypto Exchange - Buy/Sell BTC & other Cryptocurrencies |
As pointed out in several crypto forums, the whole business model of the operation is more or less scam-proof. The worst thing that could theoretically happen to users is that they could have a month’s payment stolen. Following that, they would have ample time at their disposal to realize what’s happening and to stop making payments.
The mybitcoinsaver.com domain is registered to Webscope’s Tim Clark. The domain was created in December 2013. The address of the registrant is 155 Victory Road, Laingholm, Waitakere, New Zealand. The phone number is +9.6492823802 and the email is tim@webscope.co.nz.
Question Marks and Red Flags
As said above, there aren’t really any. Though a small and simple crypto operation, MyBitcoinSaver seems to be 100% legit.
Complaints
We haven’t really been able to locate any legitimate complaints regarding the service. We imagine the actual price of Bitcoin may indeed be a reason to complain for those interested in buying, but that is hardly MyBitcoinSaver’s “fault.”
Support
MyBitcoinSaver can be contacted through an email form available at their contact page. The dedicated support contact is support@mybitcoinsaver.com.
Popularity
As of November 12, 2017, MyBitcoinSaver.com had a SimilarWeb global rank of 2,652,475, with 23,583 in New Zealand, indicating that the site gets almost all its traffic from within NZ.
MyBitcoinSaver Review Conclusion
MyBitcoinSaver is a legitimate service, which provides a solution to an actual problem, many potential Bitcoin buyers do indeed encounter.
Some people may not like the actual terms of the service, but that does not change the fact that it is indeed useful for those who do. Other than that the only downside of this service would be its limited availability. When this review was posted, MyBitcoinSaver was only available in New Zealand.
To learn about other scams infecting the cryptocurrency domain, feel free to subscribe to ScamBitcoin.com.
