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How to Buy Cryptocurrency in NZ - 2024 Guide

Nic Turnbull

Nic Turnbull

The safest, fastest, and easiest way to buy Bitcoin, Ethereum and other cryptocurrency in New Zealand is through a Kiwi crypto retailer like Easy Crypto NZ or Binance.

Buying Crypto in NZ Commonly Asked Questions:

Yes – you can buy cryptocurrency in NZ in minutes through one of New Zealand’s various crypto retailers or exchanges, such as Easy Crypto NZ. 👍

Crypto wallets are digital vaults where you store your Bitcoin, Ethereum and other digital assets – acting in a similar way to your NZ bank account.

There are 5 main types of cryptocurrency wallet, such as Hardware wallets like the Trezor and Ledger or software wallets like Exodus.

Learn about your best options in our Best Bitcoin, Ethereum & Crypto Wallets in New Zealand Guide. 👉

New Zealand anti-money laundering laws (AML) require all Kiwis to verify their identities before they can buy and sell cryptocurrency through regulated NZ crypto trading platforms, such as Easy Crypto NZ or Binance.

Alternatives to using regulated services to acquire crypto include crypto mining, buying P2P, airdrops, Crypto ATMs, and decentralized exchanges. You can also get crypto by accepting it as payment for the goods and services you sell, or doing work in exchange for crypto. 

To verify an account with an NZ exchange, you need to:

– Be 18 years or above.
– Have a valid NZ passport or drivers license.
– Have an NZ bank account under your own name.
– Have $50 to meet minimum order requirements.

It takes about 30 minutes to buy Bitcoin, Ethereum and other crypto in NZ – depending on your service of choice. It’s possible to sign up with an NZ crypto crypto exchange or retailer like Easy Crypto NZ, verify your account, buy crypto and have it delivered to your personal crypto wallet in 30 minutes or less.

Crypto buying speeds vary in three key ways:

Account creation and verification speeds; the time it takes from signing up with your chosen service to them confirming your identity. (To allow you to buy/sell/exchange)

Order creation and delivery speeds; how long it takes to create, pay for and complete your order – and how long it takes for your chosen service to dispatch your crypto to your personal wallet. 

Network processing speeds; how fast crypto transactions are processed by the crypto networks. (This is not in the control of your chosen service)

If you’re unsure on what coins to buy, we’d recommend examining CoinMarketCap to learn about the crypto markets’ most popular coins and projects.

We personally believe Bitcoin (BTC), Ethereum (ETH) and Monero (XMR) are the best cryptocurrencies to start your research with. This is due to their originally, utility, history, use cases and highly active communities. They have been around for many years and have shaped crypto into what it is today. 

Disclaimer – this is not financial advice in any way, shape or form. Always do your own research and seek a diverse range of perspectives when learning about a new project. 

Absolutely selling crypto in NZ is just as easy as buying it. All NZ services showcased below allow users to sell back crypto 24/7, 365 days a year. 

Disclaimer: All information, guides and recommendations below are based on our own research, preferences and experiences. You should always do preemptive research on anything you buy and on any financial service you use. None of this is to be interpreted as any form of financial advice.

If you’re reading this, there’s a good chance you’re at the very beginning of your NZ Bitcoin journey – you’ve set up your crypto wallet to store your assets in, and you’re now ready to buy Bitcoin, Ethereum or other cryptocurrencies in New Zealand.

In this Cryptocurrency NZ guide, we’ll walk you through the ins and outs of buying cryptocurrencies like Bitcoin (BTC) in NZ.

Enjoy the process, read all the key information, and don’t hesitate to ask us for help on our Contact us page. Good luck!

~ Harry Satoshi & Nic Turnbull

 

How to buy cryptocurrency in NZ

Where to Buy Bitcoin & Cryptocurrency in NZ

Easy Crypto NZ

Best Way for Beginners to Buy

Easy Crypto NZ is New Zealand’s most popular crypto retailer, making it safe, fast, and easy for Kiwis to buy and sell over 110+ cryptocurrencies in minutes – including Bitcoin, Ethereum, Monero, Dogecoin & XRP.

Cryptocurrency NZ Recommendation  

Website: www.easycrypto.ai/nz

Here at Cryptocurrency NZ, we’ve used Easy Crypto without any issues for over 5 years. 

They’ve helped mainline hundreds of thousands of New Zealanders into the cryptocurrency markets. 

Easy Crypto is a reputable, reliable and Kiwi focused crypto retailer who without a doubt achieves their mission of making it safe, fast and easy for Kiwis to buy and sell Bitcoin and 160+ other coins in NZ.

EC typically provide rapid order speeds through their simple interface and are well suited to first time crypto investors.

Our biggest critique would be EC’s excessive compliance program, requiring users to jump through increasingly heavier identity and source of funds verification steps for users seeking to acquire privacy coins such as Monero (XMR).

For privacy focused users, non-KYC’ed options such as the NZ P2P Crypto Marketplace may be better suited. 

Pros of Easy Crypto NZ

✔️ Beginner friendly: Easy Crypto’s interface is well suited to first time or casual investors. 

✔️ Near instant KYC: you can typically create an account, verify your ID and trade within minutes. 

✔️ Non-custodial: crypto is sent directly to your own private wallet, Easy Crypto doesn’t store it for you. 

✔️ Transparent fee structure: When you place an order, you can see the exact numbers of how much you’ll receive.  

✔️ Local customer support: when you need help, EC provides high quality one-on-one assistance.  

Cons of Easy Crypto NZ

❌ Limited features: day traders are better suited to live exchanges like Binance NZ or Kiwicoin

❌ Excessive compliance: You can’t buy privacy coins like Monero without proving the source of your funds. 

 No on-site wallet: users must have a secure wallet already set up to buy and sell through Easy Crypto. 

❌ Slippage: There’s sometimes a difference in prices between when you locked in your fees vs current prices.

❌ KYC: You have to verify your identity in order to actually buy or sell. This data is then passed on to the government. 

 

Easy Crypto NZ is a homegrown, non-custodial crypto retailer with a strong reputation in the NZ crypto community.

They have a strong presence in the domestic crypto industry , sponsoring Cryptocurrency NZ’s meetups and are known to actively engage in New Zealand’s various community forums, groups and events.

Since launching in 2018, ECNZ has generated over 200,000+ users in New Zealand alone and has processed over 2 Billion NZD in order volume – securing their title as New Zealand’s crypto heavy weight.

Janine Grainger, EC’s co-founder and other members of EC’s exec team are active members in financial technology and blockchain lobbying bodies across NZ such as Blockchain NZ and Fintech NZ

Binance NZ

Best Exchange for Advanced Traders

Binance, the world’s largest crypto exchange, is a highly popular platform for Kiwis interested in crypto trading in NZ. 
Binance offers over 1400 trading pairs, such as NZD to BTC, with some of the lowest fees in the industry.

Cryptocurrency NZ Recommendation 

Website: www.binance.com/nz

Here at Cryptocurrency NZ, we have used Binance for over 4 years without any issues. 

Binance is the world’s largest crypto exchange, accounting for over 40% of the total crypto market’s trade volume. They have world class platform, access to liquidity, a plethora of coins to trade and are known to be reliable and secure.

They are however still a centralized exchange and the age old ‘not your keys, not your crypto’ still applies. We don’t recommend storing large amounts of coin long term on exchanges and instead recommend using a hardware wallet

If you’re a day trader, looking to swing trade or practice technical analysis and chart drawing, Binance is very solid. 

Pros of Binance NZ

✔️Plethora of coins: Humongous selection of cryptocurrencies available for trading.

✔️ Competitive Rates: Famously low trading fees, especially for high-volume traders and those who hold BNB. 

✔️ SAFU Fund: Binance has a “SAFU’ fund to protect users in the event of a security breach or hack. Learn more.

✔️ Registered in NZ: Binance is a registered Financial Service Provider in NZ.  

✔️ Advanced Features: Offers world class trading tools and charts.

✔️ IOS & Android: Mobile apps available for trading on-the-go.

Cons of Binance NZ

❌ Regulatory exposure: Ongoing regulatory scrutiny and potential for government restrictions.

Mixed Reviews: Some negative user reviews and complaints about poor customer service.

❌ High withdrawal fees: Withdrawing some coins can be higher than fifty dollars, depending on market prices.

 Customer Support: Limited customer support during high-traffic periods 

 Centralized Exchange: Potential for hacking or security breaches. 

❌ KYC: You have to verify your identity in order to buy or sell. This data is then passed on to the government. 

 

Binance has has over 6,000 staff globally, and since registering in Zealand in September 2022 as a Financial Services Provider, they have invested heavily into marketing, complying with NZ regulations and developing an NZ based team. 

Ben Rose, Binance’s CEO is a member on the Blockchain NZ council, and many of the Binance NZ team are public. 

Binance is an international exchange, headed and founded by Changpeng Zhao (CZ), one of the most well known and trusted crypto developers and entrepreneurs in the world. Binance NZ is in it’s early days, but is gearing for the long haul.

NZ P2P Crypto Marketplace

Best Way to Buy / Sell for Privacy

The NZ P2P Crypto Marketplace was established in 2021 by CNZ’s Harry Satoshi to make it easier for Kiwis to discover and communicate with peer-to-peer crypto traders in NZ. 

It’s NZ’s best way to locate crypto traders who won’t require you to hand over your personal information or perform KYC.

Following the inception of the Bitcoin revolution, igniting back in 2008 when Satoshi Nakamoto released his whitepaper ‘Bitcoin: A Peer-to-Peer Electronic Cash System‘; governments, unelected transnational conglomerates and both global and local financial watchdogs have been monitoring the emerging crypto market in aims to better understand the world’s shifting financial power dynamics – and the threats posed to the existing matrix by crypto such as Bitcoin and Monero.

Following the conclusion that governments can’t effectively ban or censor Bitcoin directly, due to it’s decentralized nature, (despite many high profile calls for it), regulators have instead pursued another strategy of control whereby all regulated fiat-to-crypto on and off ramp services must follow particular guidelines, such as reporting all wallet and transaction activity to the government at the expense of individual privacy and in the favour of the surveillance state.

In response to this, many New Zealanders have chosen to obtain cryptocurrency via P2P, essentially buying and selling from other civilians, to negate the requirement to provide their personal information and perform KYC, which by doing so leads to increased capabilities of authorities or private entities to monitor your financial activity.

It is after all, not illegal to trade crypto peer to peer, with P2P being the 2FA that will secure the crypto revolution.

Pros of P2P

 

✔️ Privacy: P2P trading can offer greater privacy compared to centralized exchanges since users are not required to provide extensive KYC information.

✔️ Decentralized: P2P trading is decentralized, meaning that transactions occur directly between buyers and sellers without the need for intermediaries like banks.

✔️Accessibility: P2P trading can be more accessible to users in regions where centralized exchanges may not be available due to regulatory or infrastructure issues.

✔️ Lower fees: P2P can have lower fees compared to centralized exchanges, as there are no middlemen to charge fees for transactions. However you will often encounter traders selling at a markup.

✔️ More options: P2P trading can offer more payment options, including cash or bank transfers, or swapping other assets, reducing limits for what constitutes crypto trading.

Cons of P2P

 

Risk of scams: P2P trading poses serious risk of scams, as users may be vulnerable to fraudsters who misrepresent themselves or their offers.

Limited liquidity: P2P trading may have limited liquidity compared to a cex, meaning that it can be more difficult to find buyers or sellers for certain crypto or at certain prices.

No order book: P2P trading does not have an order book, which can make it more difficult for users to determine market prices.

Limited dispute resolution: P2P trading has near zero dispute resolution options compared to centralized exchanges, which have more resources and procedures for handling disputes.

Security risks: P2P trading can pose security risks to users if they do not take proper precautions to protect their private keys and personal information.

5 dollar wrench attacks: if you meet up to execute P2P trades in the flesh, this can pose serious danger. Learn more

Peer-to-peer (P2P) crypto trading is the act of buying or selling crypto like Bitcoin directly between two individuals, (one seller / one buyer), without the use of a middleman to facilitate the transaction process and execution. 

P2P comes with a much higher risk as there are many scams and scammers in the P2P world, but successful trades offer unparalleled privacy for acquiring digital assets in NZ.

P2P is one of the the most private ways to acquire crypto in the world, negating the use of a middleman or central authority, who are often required by law to track your activity.

You have the freedom to voluntarily enter P2P trades with whoever you deem trustworthy, like buying or selling an item from users on Facebook Marketplace.

You can choose whether or not you want to provide your ID, whereas on regulated crypto exchanges and retailers, KYC / providing your personal info is mandatory.

The two individuals (peers) can decide on their own price, terms, process and action plan to execute the transaction. Both traders are solely responsible for it’s execution.

They may sound extreme but following them is your most sure way to not get scammed. 

  • Always verify the real life identity of your trader, essentially performing your own KYC due diligence background check. If they don’t feel comfortable with this, there are other traders who are willing to do so. It ensures you can follow up if the trade goes sour.

  • Always assume by default your P2P counterpart is a scammer, unless proven otherwise. Assume 2/3 ‘hey want to P2P trade’ messages you receive will be scams.

  • Use secure payment methods that can not be reversed, i.e. cash or crypto.

  • It’s very easy for scammers to photoshop / fabricate a ‘payment sent’ screenshot, or a bank statement. Even if it arrives in your account, it can still be reversed. Bank account P2P traders are some of the most common scam methods in the NZ P2P scam game.

  • Use a Kiwi based P2P trader, always assume overseas ‘NZ’ P2P traders are scammers.

  • Meet your seller in the flesh, either on trade day or beforehand, in a public place like a library or outside a police station. P2P is legal, do it in the day time at a secure location.

  • Always read the rules of P2P groups / platforms to prevent getting an unnecessary ban.

  • If you’re given any reason to be suspicious, use your intuition and find another trader.

  • Explore the P2P platform you are using, see who’s making confirmed trades. Ask for vouches from other members. Remember that an anonymous ‘good‘ trader can suddenly go bad if presented with an exit opportunity, forging reputation for money.

  • Converse with other P2P traders in NZ to learn from their experiences and lessons.

  • Keep a record of your trades for reasons such as tax documentation. P2P traders are still expected to fulfil tax obligations and so forth. NZ Crypto Tax Guide coming soon.

  • It’s not a bad idea to test a potential P2P buyer or seller with $100, without overstating you want to purchase more. This will allow you to scam test a prospect trader, but also keep in mind scammers are willing to wait months before they close their trap and bail.

Pay it Now- PIN

Best Crypto / NZD Payment Processor

Pay it Now – PIN is New Zealand’s leading crypto payments service, making it easy for businesses to accept Bitcoin, Ethereum and over 15+ other cryptocurrencies in NZ.

Website: www.payitnow.io

How to buy cryptocurrency in NZ

Different Ways to Buy Cryptocurrency in NZ

Easy Crypto NZ logo

Cryptocurrency Retailers NZ

NZ based crypto retailers like Easy Crypto NZ are the most popular way for kiwis to get their hands on Bitcoin, Ethereum, and 110+ other coins in NZ. 

Cryptocurrency retailers are non-custodial brokerage services that source cryptocurrencies from various exchanges and sell them directly to the customer at a small fee. (Standard retailer fee is between 0.5% – 2.5%). They essentially act as middlemen, sourcing coins from many different exchanges at the lowest rates possible to stay competitive. The key benefits of buying crypto in NZ through a local retailer include having access to local customer support and reputation. 

Cryptocurrency NZ recommendation:  Easy Crypto NZ

Binance NZ Logo

NZ Crypto Exchanges

 NZ Crypto exchanges like Binance and Kiwi Coin are live exchanges where you can buy, sell, and exchange crypto with other traders in real time. 

Exchanges are typically custodial, meaning in order to use the exchange you must deposit your crypto / NZD / USD into an account within your exchange. This differs from crypto retailers like Easy Crypto NZ who are almost always non-custodial. (They never hold your coins / orders sent directly to your personal wallet.) Crypto exchanges come with both benefits and drawbacks, as there’s potential to save considerable value that would otherwise be spent on gas fees.

However, exchanges also pose considerable risks. There’s a saying that goes “not your keys, not your coins’, referring to the importance of being in control of the private keys associated with your funds. Ultimately, the person with the private keys controls what happens with the crypto, so if you are not the person holding them, you are entrusting a third party to hold your coins. This poses risk as exchanges can be hacked – such as the FTX, Cryptopia, and Mt Gox hacks. 

At the end of the day, it is up to you as an individual to decide how to manage your crypto. We recommend storing your crypto in a secure self-managed wallet.

Cryptocurrency NZ recommendations: Binance

Discord to Buy Crypto in NZ

Buying and Selling P2P

Buying and selling crypto person to person (P2P) is the act of buying, selling, or exchanging cryptocurrency directly between 2 users, without the use of an exchange, retailer, or third party to facilitate the transaction process. It’s the way of buying crypto in NZ without having to provide your KYC/personal data. 

Since 2016, New Zealand AML law has required all NZ crypto services who fall under the VASP classification to collect and provide information on their users to the NZ Govt, including details such as names, wallet addresses, order history, device information, IP addresses and more. P2P traders are those who prefer not to do so.

New Zealand is home to the NZ P2P Crypto Marketplace; a group of over 2,000 Kiwis interested in meeting P2P crypto buyers and sellers across NZ. Before you make your first trade, it is critical you learn the basics of P2P , the risks involved and the standard protocols Kiwis use to trades. Scammers are rampant in the NZ P2P crypto trading scene, and it’s virtually guaranteed you will encounter them. Scam is real, keep your eyes peeled. You have been warned! 

Different Ways to Get Cryptocurrency in NZ

Get Crypto by Mining NZ

NZ Cryptocurrency Mining

Crypto mining is the process of providing computational support to the crypto networks in reward for newly minted coins. You run specialized mining software on your hardware, processing transactions and adding them to blockchain. By running a crypto mining rig, you can earn cryptocurrencies like Bitcoin, Ethereum and Cardano passively; sent safely, directly and privately to your crypto wallet of choice. Mining rigs (more or less) act as civilian money printing machines, with the primary costs being the overhead hardware expenses for your rig and ongoing electricity prices See our dedicated mining guide for more info. 

Crypto Airdrop NZ

Crypto Aidrops

cryptocurrency airdrop happens when a blockchain project deploys free crypto tokens to their community, usually after meeting specified criteria, for the purpose of marketing and stimulating the circulation of a project’s native coin within it’s userbase and beyond. Crypto airdrop farming is the deliberate pursuit of exploring and engaging with platforms and project eco-systems who are expected, presumed or likely to deploy an airdrop in the coming future. An airdrop farmer is interested in mass farming crypto airdrops for profit. By far one of the greatest ways to accumulate crypto while exploring the DeFi ecosystem.

Join NZ’s Crypto Airdrop Facebook Group.

Bitcoin Piggy Bank NZ

Working for Crypto

Jobs that pay in cryptocurrency have been increasing in popularity and availability over the past 5 years. This is attributed to both the rise in crypto adoption and the sudden rise in working remotely due to the covid-19 pandemic. Stable-coins and crypto in general have broken down many of the barriers that typically held people back from working from a distance for a company abroad. You no longer need to set up bank accounts in different countries – you can now work either here in NZ or internationally and get receive salary or remuneration in digital currency. SeekLinkedIn, the CNZ Facebook and Discord are a good start. 

South Island Crypto

How to Get Started With Crypto in NZ

Getting started with crypto is easy, and within just a few hours you should be able to wrap your head around the fundamentals – equipping you with the knowledge required to safely store and buy Bitcoin, Ethereum and other cryptocurrency in New Zealand. 

The best place to start with crypto is by understanding Bitcoin (BTC) – the world’s first and largest cryptocurrency by market value. Bitcoin was created in 2008 by a pseudonymous developer going by the name Satoshi Nakamoto, which we still don’t know the real identity of till this very day. Bitcoin (BTC) is the golden standard within the crypto movement, setting the bar with it’s scarce supply, perfect network uptime and recognized adoption and utility.

Your next step is to set up a cryptocurrency wallet – a digital account where you store your Bitcoin (BTC) and other cryptocurrencies. Everyone in crypto has atleast one crypto wallet, which essentially becomes your self-owned personal crypto bank account. Be very careful during this process, as the process is the highest risk in terms of scams and loss of funds. Always make sure to correctly create and backup your wallet to avoid tears later. 

A crypto portfolio tracker is a tool that provides you with a birds eye view over your crypto holdings, helping you monitor your allocations and NZD value, to help you make more informed investment decisions. These trackers require you to dot in when you purchased your crypto or made a transaction, and the portfolio tracker will take care of calculating your gains and losses for you. Beware however, they can become very, very addictive. Read our guide here

Now that you have a secure place to store your crypto – the next step is to buy it in New Zealand. Your best options as stated in this guide include Easy Crypto NZ, Binance, and the NZ P2P Crypto Marketplace. Make sure you are using the correct websites and take extreme care and caution doing this. 

Now that you have a secure place to store your crypto – the next step is to buy it in New Zealand. Your best options as stated in this guide include Easy Crypto NZ, Binance, and the NZ P2P Crypto Marketplace. Make sure you are using the correct websites and take extreme care and caution doing this. 

What Cryptocurrencies Should You Buy?

As there are over 20,000 cryptos in the market, it can be difficult to choose what ones you may want to buy or invest in. At Cryptocurrency NZ, we believe the best place to start researching is Bitcoin, Ethereum and Monero. Our guides below should provide a starting point, before deciding whether to buy or not.

Although there are over 20,000 cryptocurrencies in existence, there's decent chance that 95% of them will not be in active development and usage in 15 years time. The majority of the cryptocurrencies in existence are clones of a handful of other coins, with a few differences in code added in. Especially coins designed to pump & dump - otherwise called 'Shitcoins'.

Why Buy Bitcoin / Cryptocurrency in NZ?

As of 2023, the IRD estimates 6-10% of New Zealand already own Bitcoin or other digital assets; approximately 300,000 or more Kiwis. 

At this point almost everyone has that Bitcoiner mate, and we estimate this number will significantly increase in the coming decades as more Kiwis recognize the benefits of global crypto adoption, crypto technological development, price increases, increased awareness and raw utility.

Today, most New Zealanders are drawn to buying, trading, using or investing in Bitcoin / crypto for the following set of reasons:

  • As a speculative investment, a long or short term punt that the price of Bitcoin will increase in time and generate return.

  • As a financial instrument, to use as a currency / alternative form of money to buy and sell things, like you would with NZD.

  • As a means to transfer money, to family or friends in NZ or overseas, near instantly, cost effectively, and without restriction.

  • As a protest to the legacy financial system, using your money as your vote towards a self-sovereign decentralized future.

  • To interact with Web3, Bitcoin and Ethereum are the native currencies of the internet, they have thousands of use cases.
Bitcoin Wallets

Setting up a Cryptocurrency Wallet in NZ

A cryptocurrency wallet is a digital account where you store Bitcoin and other cryptocurrencies. The Wallet is a place where you receive payments in and send transactions out, acting as your heart of operations for interacting with the cryptocurrency world. Cryptos like Bitcoin and Ethereum aren’t stored in banks, but rather in the user’s controlled crypto wallet. This puts you in full control of your digital assets, also making you fully responsible for your wallet safe keeping.

This provides crypto users with an unparalleled level of asset security and ownership, all while changing the way millions of people store and transfer value across the globe. Crypto wallets are free to use, safe to operate, and you can have as many wallet accounts as you’d like. Best of all – you don’t have to ask anyone for permission to set one up, or use it to send and receive payments. Set up a crypto wallet in NZ and become your own bank in 10 minutes or less. 

Crypto Wallet NZ Holding Bitcoin how to set up Exodus wallet
https://www.exodus.com/

Setting up a Crypto Wallet in NZ

Used by tens of thousands of Kiwis across NZ, Exodus is a highly popular crypto wallet choice for first time Bitcoin and cryptocurrency users. I have personally used it for upwards of 6 years, and it has never failed me once. Exodus is one of the most used cryptocurrency wallets in the world. 

Get a secure device to operate from

First, you need a secure device, computer or phone to create a cryptocurrency wallet on. Be aware that existing malware on compromised devices can scrape crypto private keys from your device. You may want to consider buying a fresh device or a crypto hardware wallet.

 

We recommend running a virus scanner such as MalwareBytes on your computer to help ensure your device is secure before creating a new crypto wallet. 

Step 1: Download Exodus Wallet

For the desktop application: head to the official Exodus website on your secure laptop or desktop PC and click on ‘download for desktop’ – https://www.exodus.com/download/

 

For the mobile application: Head to the official Exodus website and click on the App Store or Google Play links, alternatively you can search for Exodus wallet in your phone/tablet app store. Bewarned, Desktop wallets are generally safer. 

Step 2: Backup Your Wallet

Once you have downloaded either the desktop or mobile app, open exodus and follow the beginners tutorial that will be prompted on screen. 

The safest way to backup your recovery phrase is by writing the 12 words down on a piece of paper (ensuring the order and spelling are correct), it is a good practice to have multiple copies of this phrase and keep them in separate secure locations.

Step 3: Configure Your Settings

4. Configure Your Settings
Configure the wallet display settings to your personal preferences, e.g. valued in USD or NZD. Do you prefer the light or dark mode interface? Would you like to enable face-ID authentication (mobile only)? And finally, which assets would you want to see on the portfolio page (over 100 to choose from).

See the official Exodus customization guide here. 

Step 5: Receive Crypto

Exodus wallet with Bitcoin Balance NZD

Once you have backed up your wallet and configured your settings, the final step is to deposit crypto into your new wallet. Simply click on the asset you would like to deposit, from here you can click on the receive button to view your public key for that asset (receiving address).

 

Buying Crypto Safely - Tips and Best Practices

  • Store your crypto in your own personal wallet! (And never someone else’s wallet) – See our NZ Cryptocurrency Wallets Guide to learn how to set one up.

  • Always triple check that the Bitcoin address you’ve provided is correct – cryptocurrency transactions are irreversible.

  • Keep your crypto private. You wouldn’t tell the world you have gold buried in your backyard, so don’t tell the world how much BTC you are stacking.

  • Never invest more than you can afford to lose, crypto markets are known to be notoriously volatile. 

  • You cannot “buy the dips” if you have all your money-to-invest already invested.

  • Everyone has an opinion on Bitcoin – take it with a grain of salt and do your own research.

  • Not your keys, not your coins – make sure you store your crypto in your own wallet, not someone else’s!

  • Don’t sweat the small stuff – It’s virtually guaranteed you’ll make mistakes, so make sure you learn from them and use them to your future advantage.

  • Everyone starts off as an absolute crypto rookie, it’s a right of passage. The learning curve can be steep, but once it’s passed, it all clicks together. 

  • Bitcoin is the mother ship but consider diversifying into other coins like Ethereum. “You diversify to mitigate risk, and go all in to maximize gain”. 

  • Aspire to have Diamond Hands – someone with high risk tolerance to stomach the high volatility of crypto investing. 

  • Prioritize Bitcoin over Shitcoins, when in doubt follow our NZ Shitcoin Investing Guide here.

How to Avoid Crypto Scams in NZ

It should be known to all that the crypto space that in parallel to it’s revolutionary aspects, it is a cesspit of scams and scammers. The NZ crypto scene is increasingly becoming target of local and international imposter scammers targeting Kiwi investors.

 Scam is real – international scammers have successfully stolen over 250k NZD from unsuspecting, over trusting Kiwis as of recent months. (Q2, 2021)

  • Scammers often pose as reputable members of the community, tricking naïve Kiwi crypto rookies into sending them their crypto, usually via P2P scams

  • Scams are everywhere in the crypto world, and scammers often concentrate around the setting up a wallet and buying cryptocurrency processes.

  • Although this can be deeply discouraging, there are certain precautions you can take to protect yourself against people with ill-intentions.

  • The age old saying “If it sounds too good to be true – it probably is” has never been more relevant. Because in the crypto world it is possible for investors to see 50% gains in a single day, it can be hard to distinguish between what is legitimate and what is a scam.

The best thing to do is to educate yourself, and this starts with incorporating some basic rules into your crypto perspective, establishing safe expectations: 

  • Always assume anyone messaging you about buying / selling crypto is a scammer, with intent to extract value from you in one way or another.

  • If you receive a message from someone you already know in crypto, assume their account has been hijacked, or someone is impersonating them.

  • Your cryptocurrency wallet is your personal crypto vault, and the keys to your wallet are your passwords, private keys and back-up passphrases.
    Never EVER share these details to anyone you don’t know or trust, as this means granting them control of your assets.

  • Always be wary of clicking random links that you do not recognize, these are used by scammers and hackers to extract information and access from you.

  • If you receive an email from a service you use, like Easy Crypto NZ – always assume the email is a fake, with intent to make you click a nefarious link.

  • Always use 2-factor authentication, unique passwords, and never passwords in your phone notes or social media accounts. 

  • Scammers often attempt to scare and convince you that the ‘issue’ is of a time sensitive nature and that if you don’t do what they ask “now” your funds could be irreversibly lost. Always take a step back and not let your judgment be clouded by scare and emotional response tactics.

  • If in doubt, the CNZ Facebook Group is a great place to post a query or screenshot and ask your peers for their opinions and (sometimes) better judgement.

Step by Step - How to Actually Buy Cryptocurrency in NZ

Easy Crypto NZ logo

Easy Crypto NZ

Step 1 - Create an account with Easy Crypto NZ

1. Create an account with Easy Crypto NZ

 

A) Head to the Easy Crypto NZ website: https://easycrypto.ai/nz/ 

B) Click ‘Sign up‘ 

C) Click ‘Create an Account‘

Set up an account to buy crypto
 
 
 
Step 2 - Verify your Account

Step 2. Verify your Account

 

D) You have two options for verification; SumSub or manual verification

 

SumSub: Automatic account verification, use your ID to verify your account in under 2 minutes (recommended)

Manual verification:  Have someone at Easy Crypto manually verify your account, in 24 hrs or less

Verify account for trading crypto
Step 3 - Select the Crypto you want to Buy

 

Step 3. Select the Crypto you want to Buy

 

E) Head back to the Easy Crypto homepage (https://easycrypto.ai/nz)

F) Select the cryptocurrency you want to buy. i.e. Bitcoin, Ethereum, XRP

G) Select how much NZD worth of Bitcoin you want to buy, then click ‘Buy‘

How to buy Bitcoin in NZ - NZ Crypto guide
Step 4 - Provide Easy Crypto with your Bitcoin Wallet Address

Step 4. Provide Easy Crypto with your Bitcoin Wallet Address

 

 

H) Head to your Bitcoin wallet and copy your Bitcoin wallet address

I) Paste your Bitcoin address into the field, confirm it’s correct then click ‘Next step’

Buy Cryptocurrency in New Zealand
 
Step 5 - Select your Payment Method and Pay

Step 5. Select your Payment Method

 

J) Select your payment method – Account2Account, POLI Pay or manual bank transfer

Easy Crypto NZ payment options

K) Follow through with one of Easy Crypto’s payment methods and complete your order. 

Easy Crypto’s systems will automatically kick into gear and send your Bitcoin to you in 20 minutes or less. Check back with your wallet shortly, and welcome to the club!

Binance NZ

Step 1 - Create an account with Binance NZ

Step 1 – Create an account with Binance NZ

A) Go to www.binance.com/nz

B) Click on “Sign Up With Email or Phone”

Binance NZ

Step 2 - Verify your Account

Step 2. Verify your Account 

 

C) Email Verification, go to emails and copy and paste code in the box below 

D) Set password for your account, Make sure it is secure! 
E) Verifying you by submitting the follow Information below  
Binance Register
 
Step 3 - Select the Crypto you want to Buy

F) Go back to home page and click “Buy now” Button. 

 

 

G) Select what you want to buy and amount. 

 
Step 4 - Select your payment Method
H) You can choose your preferred payment method here. To buy with credit/debit card, click [Visa/Mastercard]  [Continue].
 

I) Enter card details and follow instructions 

 

Step 5 - Pay to Complete your order

J) Confirm order and wait, order should be filled within 1 minute. 

 

 

Congrats, you are officially set for the future of money!

Now come join the rest of us! 🇳🇿

New Zealand is home to an active, friendly and rapidly evolving crypto scene. Come join us in the local community groups and meetups and help make NZ a driving force in the crypto age!