How to Buy Bitcoin in New Zealand (NZ)
If you are wanting to learn how to buy Bitcoin in New Zealand (NZ), you have come to the right place. With Easy Crypto, getting started and buying Bitcoin (BTC) in New Zealand is easier than you might think. When you open a free account at Easy Crypto, it is possible to buy Bitcoin and 60+ other cryptocurrencies in under 2-minutes.
So, what is Bitcoin (BTC) anyway?
Bitcoin (BTC) was and is the world’s first cryptocurrency. And just like the NZD in your New Zealand bank account, it can be stored, sent and received through the internet – and you can use Bitcoin to buy and sell goods and services all around the world.
Since Bitcoin is stored, sent and received exclusively through the internet, it has no comprehension of international borders at all.
For this reason and more, Bitcoin takes the title as being the worlds first decentralised digital universal currency. Although that sounds a bit strange to say three times, Bitcoin achieving this title is actually an incredibly massive deal.
While being similar in many ways to a currency like the USD or NZD, Bitcoin holds many of its own unique qualities, defining it as an entirely new class of money.
Bitcoin is different from government-issued currency like the NZD in three key ways:
- Bitcoin is not stored in a bank account, but rather a ‘Bitcoin or cryptocurrency wallet‘ – cutting out the entire need for a bank account or government ID.
- Bitcoin can be sent anywhere on Earth in seconds, essentially acting as a digital universal currency.
- Unlike traditional government-issued money like the NZD, the total amount of Bitcoin in existence can not be manipulated or changed.
Bitcoin is more than money
Since it’s inception in 2008, Bitcoin has emerged as Earth’s first decentralised universal currency.
- 1.7 billion people on Earth don’t have access to a bank account, and they can now use Bitcoin to store value and engage in online exchange.
- It can take anywhere between 4 days to 2 weeks to send money internationally, but with Bitcoin, it can be transacted in seconds.
- Bitcoin transactions can’t be reversed, meaning that no government or bank can stop you from using your hard-earned Bitcoin.
With less than 1% of the world owning Bitcoin, it feels safe to say that Bitcoin has a long future ahead of it. Bitcoin was the best performing global asset of the 2010s, increasing 3,424% in price from 2015 to the day this was last updated.
Is it legal to buy Bitcoin in New Zealand?
Many new entrants wonder if it is legal to buy Bitcoin, and the truth is, Bitcoin has never been illegal in New Zealand!
In fact, almost all governments of importance on Earth know that banning Bitcoin would be counterproductive. This is because banning Bitcoin would not only push it’s users to the fringe and glamourise its usage, but it would also hinder the development of blockchain technology – the cutting edge technology that underpins most cryptocurrencies in 2020.
New Zealand is currently near the front of the pack for cryptocurrency and Bitcoin regulation, but our approach is still far from perfect. This is because the New Zealand government body is still working through how they will legally define cryptocurrency, which will ultimately impact its usage. In the meanwhile, however, it is very easy to buy Bitcoin in New Zealand, and it will only get easier to do so going forward.
Why should you buy Bitcoin?
Did you know that in 2019, New Zealand became the first country in the world to make it legal to pay salaries in cryptocurrency?
That’s right. If you are a resident of NZ, your employer can now pay your wages in Bitcoin. Sadly, not every NZ employer has a pot of Bitcoin that they can immediately start paying wages out of. However, the message to BTC investors is clear – Bitcoin is here, and it’s only going to get bigger.
This capped limit is due to the math and technical architecture of the Bitcoin network itself, and it’s well known to the public – making its scarcity transparent, unlike gold or other precious metals.
You may be confused by how Bitcoin can have a set limit in existence, but this is one of Bitcoins greatest truths. We know exactly how Bitcoin much exists, and therefore we can accurately value it – unlike gold, silver, government currency or other assets.
As demand for Bitcoin increases with more people using it as a store of value, investment vehicle or currency, the price will follow and continue to rise as there’s is a fixed supply of Bitcoin in existence.
Here are some other reasons that make Bitcoin is special:
- Bitcoin is fast, and it typically takes less than 30 minutes to send Bitcoin anywhere on earth.
- Sending Bitcoin is cheap, as it only has to pass through its own system rather than the banks or other 3rd party intermediaries.
- Since there is no organisation in the middle of the Bitcoin network authenticating transactions as a bank would, there is no way that the system can be shut down, nor can anyone meddle or restrict your ability to make payments.
- Bitcoin transactions can be anonymous, as its user’s bitcoin wallets by default are not tethered to their real-world identities.
- Anyone can easily create a Bitcoin wallet without having to ask anyone for permission – which is a big deal for the 1.7 billion adults in the world who currently don’t have access to bank accounts.
- Bitcoin was the worlds first genuinely decentralised digital universal currency.
Bitcoin clearly holds multiple revolutionary qualities, such as its ability to be used to send anonymous irreversible transactions to anywhere in the world with just a cellphone and internet connection – or its ability to used as a self-sovereign banking system without central oversight or restriction.
Bitcoin and the other growing list of 2,000 plus cryptocurrencies are going to change the world for the better, but the real question right now is: Is it too late to get in early?
How many other New Zealanders buy Bitcoin?
According to the 2019 Global Digital Yearbook report, at the start of January 2019, a reported 4.1% of Kiwis own cryptocurrency like Bitcoin. This is just one report, however, and it is impossible to truly know how many New Zealand Bitcoin holders there are.
Today is the strongest day in cryptocurrency history – Global adoption & utility
Due to the highly unique characteristics of Bitcoin, BTC has seen a rapid increase in usage and adoption over the past 11 years.
With people around the world scrambling to buy BTC as a speculative investment or to use as money, governments and businesses have been rushing to establish their stances on this revolutionary new asset class.
In the time since Bitcoin was created during the Financial Crisis of 2007–08, millions of people around the world have magnetised towards it, resulting in immense fluctuations in Bitcoin demand, and therefore Bitcoin price.
Although Bitcoin price is immensely turbulent, this hasn’t stopped countless speculators and investors from buying Bitcoin and setting up their own BTC stash. Preparing for if the world really does end up using this interesting new currency as the digital gold standard of money.
Is it smart to invest in Bitcoin in 2020?
The past to years has been a wild ride for Bitcoin. The Bitcoin price has topped as high as $25,300 NZD, However, it has also corrected to as low as $5,200. It is, therefore, important to keep in mind that investing in any cryptocurrency is not without risk.
Today, most people who buy Bitcoin in New Zealand do so for one simple reason. For ten consecutive years, Bitcoin has increased exponentially in value in the long-term.
During this time, Bitcoin adoption has increased and cryptocurrency has started to benefit from mainstream acceptance. There are no guarantees. However, if Bitcoin does perform similarly to how it has over the past ten years in the future, buying BTC now will be considered a smart investment.
What should your Bitcoin investing strategy be?
Your strategy for buying Bitcoin should be determined by what you want to get out of Bitcoin as a financial instrument or investment – but here are a few ideas that might spark your interest:
- Like most of Easy Crypto customers, they buy Bitcoin to sit on for the long run while more people adopt Bitcoin as a currency and store of value. Since Bitcoin has a set supply that cannot be changed, the more people invest in Bitcoin and as more money flushes in, the higher the Bitcoin price will go.
- You can buy Bitcoin and kick off with day trading. Bitcoin day trading is when you buy and sell Bitcoin on a day to day basis, based on market trends and events. For this, you will want to learn and develop technical analysis skills, which you can then use to make future projections based on current trends in the market. This strategy, however, carries enormous risk, as the BTC market can be extremely random and volatile.
- You can simply go and buy things with your Bitcoin, and you can see all the places where you can spend your Bitcoin in NZ here.
Is now a good time to buy Bitcoin?
If you are researching how to buy Bitcoin safely, it’s natural to wonder if now is the right time to buy coins. After all, the cryptocurrency market is notoriously volatile.
Sadly, there is no way of saying for certain whether the price of Bitcoin will go up or down in the future. However, there are a few key points that Kiwis should consider when thinking about buying Bitcoin.
- Every 4-years, the amount of Bitcoin entering circulation each day is cut by 50%. Historically, this has seen Bitcoin prices rise sharply as a result. As it is, the last Bitcoin halving took place in May this year.
- To date, Bitcoin has been the most successful consumer investment of the past decade ($5 of Bitcoin bought in 2010, is today worth over $14 million).
- Worldwide, Bitcoin and cryptocurrency adoption, in general, is on the increase. If this trend continues, it is reasonable to expect Bitcoin prices to go higher long-term.
How to buy Bitcoin easily and legally in New Zealand?
We offer the best NZD to Bitcoin prices out of all the Bitcoin brokers in NZ, when you buy Bitcoin through us your order is automatically delivered to your Bitcoin or cryptocurrency wallet within minutes. Our platform is ultra-secure, and we offer free help and advice regarding safe Bitcoin storage and usage.
Easy Crypto is the best place to buy Bitcoin in NZ for several key reasons:
- We typically have the best Bitcoin prices out of all the Bitcoin brokers in New Zealand.
- We are the only Bitcoin broker in NZ to have a 100% funds safety guarantee across all orders.
- You can buy and sell over 70+ top cryptocurrencies through us including Bitcoin, XRP, and Ethereum.
- We have a fully automated verification and payment system, meaning you can buy Bitcoin and have it delivered to your wallet in less than 3 minutes after signing up!
How to buy Bitcoin with Easy Crypto New Zealand (NZ)
When the Bitcoin price is rising, it can be tempting to rush to buy Bitcoin quickly. However, this is often how mistakes happen. Before using any Bitcoin exchange, it is, therefore, important for new individuals wanting to invest in Bitcoin to learn how to store their Bitcoins safely.
At Easy Crypto NZ, we can send Bitcoin to any Bitcoin or cryptocurrency wallet you already own. Alternatively, if you do not already have a Bitcoin wallet yet, we can create one for you. Simply make sure to select this option when placing your order when you are buying your first BTC.
If you don’t have a Bitcoin wallet yet, you can see our guide on how to set up a Bitcoin wallet in New Zealand.
Create a free account with Easy Crypto to buy Bitcoin instantly
Easy Crypto boasts the only automatic sign up and verification system out of any of the Bitcoin brokers in New Zealand, making it so signing up and verifying your account to Buy Bitcoin in New Zealand can be completed in less than 3 minutes. ⚡
You can sign up with us via email, or alternatively, you can create an account in a single click by logging in via Google, Facebook, or Twitter.
Complete your verification
To satisfy New Zealand financial regulatory requirements, Easy Crypto needs to verify the identity of all users. However, unlike on international exchanges like Coinbase, almost all users can verify their identity with us in under 2-minutes. All we will need is a scanned copy or photograph of a New Zealand issued driving license.
- Average ID verification times on Coinbase – 24-hours – 7-days
- Typical ID verification times on BitPrime – 24-hours
- Average ID verification times on Easy Crypto – 2-minutes
Now you can buy Bitcoin in New Zealand through Easy Crypto
After verifying your Easy Crypto account, you can dive straight in and buy Bitcoin in NZ instantly. All you need to do is enter the New Zealand dollar amount of Bitcoin you would like to purchase and click ‘Buy Now’.
This video guide below will walk you through the process, but you should be able to easily create your order and have Bitcoin delivered to your wallet within 1 or 2 minutes. ⚡
Unlike other exchanges, we include all transaction fees in the Bitcoin price you will see on your screen.
- Remember to wait for confirmation that your ID has been verified, before attempting your first purchase
- If you are having Bitcoin sent to a wallet you already own, make sure to enter your Bitcoin wallet address in the order details area
Once you have decided how much Bitcoin you would like to buy, you can complete your purchase instantly via POLi instant pay or A2A pay. Payment can also be made by direct bank transfer. As soon as payments are confirmed, Bitcoin will be sent to your wallet in under 2-minutes.
To prove how fast you can buy Bitcoin in New Zealand, Easy Crypto went and set the speed record for it!
Easy Crypto is the easiest to use New Zealand based Bitcoin exchange and broker. As well as making it easy to buy Bitcoin we, therefore, also make it easy to exchange BTC for New Zealand dollars.
To sell Bitcoin on Easy Crypto, verify your account by following the above steps. Once you do, you will be able to sell an unlimited amount of Bitcoin any day of the week, 365 days a year.
I learned How to Buy Bitcoin NZ and I own BTC! – Now what?
After learning how to buy bitcoin in NZ, you may be wondering what to do with your new-found digital assets. Well, you have several options.
- Hold on to your Bitcoin without selling for the next couple of years or more, to guarantee that you have your foot in the door for riding whatever the future of Bitcoin throws at us.
- Kick off with day trading, where you buy Bitcoin on a day to day (or week to week) basis to sell when the price next shoots up. This can be risky because of the randomness and volatility of Bitcoin, but with great risk comes great reward.
- Buy items or services online that you might not be able to pay for using traditional currency. (see our list of all the known places in NZ that accept Bitcoin)
- Move some of your Bitcoin to a wallet on your phone so you can easily show your mates and family how it works – and even send them some in front of them!
- Teach other people how to buy bitcoin in NZ.
- Donate to charities that accept Bitcoin!
- Safety backup your Bitcoin wallet so you can never lose access to your digital assets.
For more ideas on what you can do with your Bitcoin now that you have learnt how to buy Bitcoin in NZ, see a guide here.
How to buy Bitcoin in New Zealand cities?
It is possible to buy Bitcoin in NZ with cash, however, these transactions always come with risk. What if you pay someone NZD and they refuse to give you your Bitcoin, or they bring a crowbar and demand that you pay them everything you have?
This is why it is always safer to learn how to buy Bitcoin in NZ through a trusted source like Easy Crypto.
Check out our pages below to see how to buy Bitcoin in each major NZ city.