How to Buy Cryptocurrency in New Zealand
Tio • July 15, 2024
Buying crypto in New Zealand is easier than you think. We are here to show you just how easy it is for you and for anyone to get started with cryptocurrency.
With over 2 million+ cryptocurrencies (and counting) in circulation as of this writing, the rate of crypto adoption continues to grow and it is never too late to get started.
New to crypto? Master the basics with our crypto 101 guide.
Where to buy crypto in New Zealand
Nowadays, there are many ways of buying cryptocurrencies in New Zealand. One option would be through centralised crypto exchanges such as Coinbase and Swyftx that store your crypto assets in custodial wallets.
Another option would be through non-custodial exchanges such as ourselves here at Easy Crypto New Zealand.
With Easy Crypto, we deliver your funds directly to your non-custodial crypto wallets – meaning you are the sole owner of your assets.
Related: Learn the different type of crypto wallets.
How to buy cryptocurrency in New Zealand
We make it easy for Kiwis to buy Bitcoin (BTC), Ethereum (ETH) and 100+ other cryptocurrencies in New Zealand.
Before we get started, there are 2 things that you’ll need:
- Have a verified account at Easy Crypto.
- A cryptocurrency wallet to store your crypto assets.
Don’t have a crypto wallet?
Download our very own, Kiwi-designed self-custody Easy Crypto Wallet that is built to simplify the crypto experience for all users. Available on iOS and Android.
Download now: Get Started with the Easy Crypto Wallet!
With that said, follow our quick and easy guide below on how to buy crypto in New Zealand.
Time needed: 5 minutes
Step-by-step guide on how to buy crypto in New Zealand:
- Sign in to your Easy Crypto Account
Visit the Easy Crypto New Zealand, then proceed to log in to your Easy Crypto New Zealand account using your credentials.
If this is your first time – welcome! Click on the Sign Up button on the top right to create an account and proceed with the account verification process to get started. - Select the cryptocurrency you want to buy
On the homepage, select the cryptocurrency you want to buy and enter the desired amount of NZD you want to spend.
Afterwards, proceed to click the Buy Now button. - Enter your wallet’s receiving address
Next, enter your wallet’s receiving address for the corresponding cryptocurrency you wish to purchase. If you don’t have a wallet yet, read our quick guide on setting up a crypto wallet.
Alternatively, you can also click on I don’t have an address! button and we can offer your other options. - Select your preferred payment method
If you choose to pay with Account2Account or POLi pay, your order should be fulfilled shortly after payment confirmation – depending on the coin type and network congestion.
If choose Bank deposit, your order will be processed and delivered once we receive your payment in our account with the correct reference – this can take a few hours or even days if the payment was sent over the weekend, as banks only process transactions during business hours.
And that’s it – you’re done!
Be sure to keep an eye on your order confirmation as we process your crypto order. Feel free to get in touch with our helpdesk if you have any questions or need further assistance.
Additionally, for those who want a more detailed walkthrough check out our YouTube video guide below:
Things to consider before buying crypto
As with any investment endeavor, it’s worth spending time reading up and getting to know all aspects of the crypto asset – especially if this is your first time into this asset class.
Below are some considerations to think about when buying or investing into cryptocurrencies in New Zealand:
Where to store your crypto
As mentioned briefly above, cryptocurrencies are stored in crypto wallets. While there are many different types of crypto wallets out there, they are primarily categorised into two different types based on their storage method:
- Hot wallets: the most common and popular wallet; stores your crypto assets in a secure online digital wallet. This type of wallet prioritises accessibility and cross-platform support.
- Cold wallets: store your wallets in an offline environment, hence the name. This type of wallet is designed for long-term storage with maximum protection.
Learn more: A Guide to Crypto Hot Wallet vs. Cold Wallets.
Crypto tax and regulation in NZ
It goes without saying, that one of the things to keep in mind with any type of investment – including crypto – is the regulation and taxes that are involved.
In New Zealand, there are two types of tax that can apply to crypto assets: income tax, and goods and services tax (GST):
- Income Tax: Currently, all New Zealanders must pay income tax on their cryptocurrency proceeds from taxable events (explained below).
- Goods and Services Tax (GST): In New Zealand, any goods and services traded, local or imported, incur 15% GST. IRD has signalled that this will be removed in early 2021.
Be sure to read our guide on crypto tax in NZ for further details:
Choosing the right platform
Finding the right platform to buy and sell cryptocurrencies involves doing your due diligence and looking into your options. As briefly prefaced above, there are different places to buy crypto assets.
Be sure to look into whether or not the exchange is legally compliant, check for any hidden fees, and most importantly a customer support team that will assist you with any inquiries.
Do your own research
Last, but not least – and perhaps one of the most important one is to conduct your own research before making any investment decisions.
Research and look into the different crypto assets you wish to buy, asses their volatility and historical price movements, their institutional backing, and evaluate if they match your risk tolerance.
This also involves understanding your own purpose of investing in the first place. Are you looking to invest in crypto for the long-haul as a diversification method? or are you leaning more towards making profit as an active trader?
Understanding this will help you make more informed decisions in the crypto market.
Start here: Learn how to do your own crypto research.
About Easy Crypto
Our mission at Easy Crypto is to simplify the cryptocurrency experience – making crypto easy, accessible, and understandable for everyone.
We are headquartered in New Zealand, and now operate globally in three countries: New Zealand, Australia, and South Africa.
Our global team at Easy Crypto focus on a user-centered approach, and strive to simplify all aspects of the crypto experience to facilitate its adoption to eventually bring financial freedom and equity to the world.
Why Easy Crypto?
Buy, sell, and exchange over 160+ cryptocurrencies
With Easy Crypto you can buy, sell, and exchange over 160+ different cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL) and many more – easily and securely with your local currency.
Track the growth of your crypto assets
Using the Easy Crypto Portfolio Tracker, our users can easily manage and track the growth and performance of all your crypto assets – regardless if you’ve bought the crypto from us or not. And the best part, it’s a free feature for all our users.
Learn more about the Portfolio Tracker.
Automation for your crypto investments
Our Auto-Buy feature enables you to automate your crypto investments by creating customised order templates. Once set up, we’ll automate your crypto orders for you.
Further reading: Visit our hub to learn all about crypto.
Published on July 15, 2024
Last updated on July 16, 2024
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