To get started, it’s important to understand the basics of Ethereum’s vision and technology. Once familiarized with ETH, selecting a secure crypto wallet is a curial step.
Best Places to Buy Ethereum in NZ
Best place to buy Ethereum for Beginners
Type of Exchange: Broker / Retailer
Tokens Available : 50+
Easy Crypto NZ
Cryptocurrency NZ opts for Easy Crypto NZ due to its impeccable safety record, unwavering reliability, and swift transactions. With a proven history of aiding New Zealanders, it's the preferred choice for seamless crypto dealings.
Pros Of Easy Crypto NZ
✔️ Accepts NZD: Easy Crypto is a New Zealand-based retailer, which means that users can buy and sell cryptocurrencies using New Zealand Dollars (NZD).
✔️ User-friendly: Easy Crypto has a simple and user-friendly interface that makes it easy for individuals to buy and sell cryptocurrencies, even if they are new to the world of digital assets.
✔️ Strong customer Support: Easy Crypto offers competitive fees and is known for its strong customer support. The team is available to assist users with any questions or concerns they may have.
✔️ Secure platform: The platform is secure and uses industry-standard security measures to protect user data and funds.
Cons Of Easy Crypto NZ
❌ Limited Features: Easy Crypto may not offer as many advanced trading features as some other exchanges, which may be a drawback for experienced traders.
❌ Trading Fees: The trading fees for less popular cryptocurrencies on Easy Crypto can be higher than on other exchanges.
Easy Crypto NZ has a transparent fee structure, which is included in the price of the cryptocurrency being bought or sold. The fee structure is based on a percentage of the transaction value, and the percentage varies depending on the cryptocurrency being traded.
Easy Crypto NZ fee range is from 0.70% to 0.90%.
Best Place to buy Ethereum For Traders
Type of Exchange: Centralized Exchange
Tokens Available : 500+
Cryptocurrency NZ uses Binance NZ due to its extensive cryptocurrency options, strong security measures, and diverse services like staking, lending, and mining optimization. A comprehensive platform for Kiwi cryptocurrency enthusiasts.
Pros Of Binance New Zealand
✔️Wide range of tokes: Binance supports a huge range of tokens, which gives New Zealanders access to a diverse range.
✔️ Low trading fees: Binance has some of the lowest trading fees in the industry, which can be a significant advantage for frequent traders.
✔️ High liquidity: Binance has a high trading volume, which means there is high liquidity on the platform. This makes it easier to buy and sell cryptocurrencies quickly.
✔️ User-friendly interface: Binance has a user-friendly interface, which makes it easy for beginners to navigate and trade cryptocurrencies.
Cons Of Binance New Zealand
❌ Regulatory uncertainty: Cryptocurrency regulation in NZ is still uncertain, which can create a level of risk for users of the platform.
❌ Limited payment options: Binance has limited payment options for New Zealanders, with bank transfers being the primary payment method.
❌ Security risks: As with any cryptocurrency exchange, there is a risk of hacking and theft. Binance has implemented security measures to mitigate these risks, but there is still a risk involved.
❌ Customer support: Some users have reported issues with Binance's customer support, which can be frustrating if you encounter any issues with the platform.
|Spot: 0.1000%||Spot: 0.1000%|
|Futures USD: 0.0400%||Futures USD: 0.0200%|
More information on Binance exchange fees can be found here.
Best Place to Buy Bitcoin for New Zealand users
Type of Exchange: Broker / Payment Solution
Tokens Available : 15+
Pay it Now (PIN)
With its New Zealand origins, PIN perfectly aligns with the local values that Cryptocurrency NZ holds dear. Unlike simple on/off ramps, PIN offers a holistic ecosystem that extends well beyond basic transaction facilitation. By bridging merchants with its extensive user base, PIN empowers businesses throughout New Zealand to effortlessly access the realm of crypto.
Pros Of Pay it Now (PIN)
✔️ PIN Scan Block Explorer: The dedicated block explorer, PIN Scan, enhances transparency by allowing users to easily track and monitor transactions on the PIN Network, fostering trust.
✔️ Wallet-Less Crypto Transactions with PIN Swap: The wallet-less connection process through PIN Swap offers a user-friendly and secure method for transferring crypto assets directly into users' wallets, simplifying the interaction with smart contracts.
✔️ Point of Sale (PoS) Integration: The integration of PIN Payments with prominent Point of Sale providers like Sipo PoS, Todays Software, Lightspeed X, and Salespoint streamlines crypto payments for merchants, potentially increasing the adoption of cryptocurrencies.
✔️ In-App Functionality for Users: The PIN Network App's user-centric features, such as in-app buying, bridging tokens, gas-less swaps, and instant peer-to-peer transactions, create a convenient and seamless experience for users engaging with digital assets.
✔️ Cross-Border Payments: The ability to send and receive digital currency instantly among PIN Network App users facilitates cross-border transactions, potentially reducing traditional financial barriers.
✔️ Staking and Rewards: The in-app staking functionality offers users the opportunity to earn staking rewards and bonuses, providing an additional incentive within the PIN ecosystem.
Cons of Pay it Now (PIN)
❌ Integration Challenges: While the PoS integration is designed to be user-friendly, potential integration challenges with different PoS providers might arise.
❌ Limited Cryptocurrency Compatibility: The availability of supported tokens for bridging and swapping might be limited, potentially limiting user choices.
❌ Security Considerations: Introducing wallet-less transactions and sensitive data handling within the app necessitates robust security measures to protect user assets and information.
❌ Regulatory Challenges: The integration of cryptocurrencies and payment solutions could subject the project to regulatory scrutiny and compliance requirements in different jurisdictions.
PIN implements a fee structure that comprises two distinct types of fees. The first involves un-bridging transactions, in which a fee of 4% is applicable. However, it's noteworthy that PIN doesn't impose gas fees on its users. Instead, for bridge transactions, there's a fixed fee of $0.40 USD, offering users a straightforward and predictable cost for their transactions.
What is Ethereum in New Zealand?
Ethereum is a decentralized blockchain platform that allows developers to create and run decentralized applications (dApps) using smart contracts. It is not specific to any particular country, including New Zealand. Ethereum allows for the creation and deployment of custom tokens, which can be used for various purposes.
Ethereum’s native cryptocurrency is called Ether (ETH), which is used to pay for transaction fees and as a form of value transfer within the Ethereum ecosystem.
Can I Buy Ethereum in New Zealand?
These exchanges allow you to buy Ethereum using New Zealand dollars (NZD) by depositing funds through bank transfers, credit/debit cards, or other payment methods.
Alternatives to Buy Ethereum NZ
To buy Ethereum in New Zealand, you’ll need to use one of the following listed below. These services provide a platform where buyers and sellers can trade NZD for tokens.
- Ethereum ATMS: An alternative is buying ETH via ETH ATMs, albeit with higher commissions compared to other methods. These ATMs facilitate both buying and, in some cases, selling Ether using cash or debit cards. A Ethereum wallet might be necessary for the transaction, with fees varying, ranging from approximately 7% to 10%.
- Cryptocurrency Exchanges: For those aiming to purchase Ethereum, cryptocurrency exchanges stand as a well-liked choice. These platforms bring several benefits to traders. To explore further, consider visiting Cryptocurrency NZ’s list of the finest cryptocurrency exchanges in NZ. These exchanges excel in offering competitive all-in trading costs, making them an optimal choice for cost-conscious traders.
Peer-to-peer Crypto marketplaces: Platforms that connect buyers and sellers directly, allowing for more flexibility in payment methods. (Such as NZ’s own P2P marketplace)
Crypto debit cards: Crypto cards that allow you to spend your Ethereum at merchants that accept debit card payments without converting to New Zealand dollars first.
- Brokers and retailers: They present another avenue for acquiring Ethereum. These platforms offer distinct advantages for potential buyers. These platforms are particularly beneficial for individuals focused on cost-efficiency, as they often provide competitive rates for cryptocurrency transactions. Additionally, many of these entities eliminate hidden charges like spread mark-ups, enhancing the transparency.
Buying Ethereum: Here's what to watch for
When contemplating how to buy Ethereum, it’s essential to assess the ensuing factors as they can shape your decision on where to make the purchase or whether to avoid it.
Ownership: Determine your preference between direct Ethereum ownership and derivatives like futures contracts. Cryptocurrency NZ prefer direct ownership.
Upside/Downside: Your potential profits are intrinsically tied to your chosen ownership method. Direct ETH ownership means your profit increases one-to-one with the currency’s rise, whereas futures contracts offer swifter gains with less investment.
Cost: The cost aspect varies extensively based on your purchasing approach. Futures contracts provide relatively economical access, whereas certain brokers might levy significant fees for direct purchases. Even a small percentage can erode profits.
Security: Security is a paramount concern in any investment. Some emerging cryptocurrency entities have grappled with security breaches. A notable instance is the $570 million theft of Binance’s BNB coin in 2022. Established brokers, owing to their extended experience, tend to offer superior security measures such as Easy Crypto NZ.
Best Ethereum Wallets NZ
For a more in-depth understanding of Ethereum wallets, we encourage you to refer to our detailed guide, “Best Ethereum Wallets NZ.” This guide offers comprehensive insights into a variety of ETH wallet choices, highlighting their functionalities and advantages.
Best Ethereum Wallet for security
Trezor Model T
Purchase Cost: $219
Type of Wallet: Non-custodial
Cold Storage: Yes
At Cryptocurrency NZ, we endorse the Model T as our preferred hardware wallet for several reasons, with security being at the forefront. The Model T offers robust security features, including offline storage of private keys and the availability of a physical security key, which provides an extra layer of protection against threats.
Pros of Trezor Model T:
✔️ Versatile Crypto Support: Trezor stands out for its compatibility with a array of currencies, enabling users to store multiple assets in one wallet.
✔️ Available Touch Screen: The presence of a touch screen on certain models of Trezor enhances user interaction and navigation. This feature contributes to a more intuitive and user-friendly experience.
✔️ Highly Secure: Trezor is renowned for its robust security measures. By storing private keys offline in the hardware wallet, it provides optimal protection against online threats such as phishing attacks and malware.
Cons of Trezor Model T:
❌ Security key exclusive to Model T: While the Trezor Model T offers the added security of a physical security key, other Trezor models lack this feature.
❌ Relatively High Cost: Compared to some software wallets, Trezor hardware wallets are relatively more expensive. The investment in hardware security might deter budget-conscious users or those with smaller crypto holdings.
❌ Not Beginner-Friendly: Trezor’s advanced security features and configuration options may overwhelm beginners new to crypto. The setup process to operate the hardware wallet effectively may require some technical knowledge.
The Trezor Model T Wallet is a cutting-edge hardware wallet designed to provide top-notch security for managing cryptocurrency assets. With its sleek design and user-friendly touch screen, the Model T stands out as a versatile solution.
One of its distinguishing features is the availability of a security key, which further enhances the protection of your private keys and sensitive information. This hardware-based security approach significantly reduces the risk of unauthorized access. For New Zealanders seeking a secure and efficient way to safeguard their digital assets, such as their Bitcoin the Trezor Model T Wallet is an excellent choice.
To learn more about the features and benefits of Trezor Wallet, we recommend checking out our comprehensive guide, “What is Trezor Hardware Wallet NZ.“
Best Ethereum wallet for beginners
Purchase Cost: Free
Type of Wallet: Non-custodial
Cold Storage: No
Cryptocurrency NZ Chooses Exodus as the best Ethereum wallet for beginners due to its exceptional features. Being a free wallet, it offers an accessible entry point for newcomers. Additionally, Exodus provides great customer support.
Pros Of Exodus Wallet:
✔️ Built-in Exchange: Exodus offers the convenience of a built-in exchange, allowing users to easily trade between supported cryptocurrencies without leaving the wallet interface.
✔️ Good Customer Support: With responsive and helpful customer support, Exodus ensures that users receive assistance promptly, enhancing their overall experience.
✔️ Easy Setup Process: Exodus boasts a user-friendly and straightforward setup process, making it an ideal choice for beginners entering the world of crypto.
Cons Of Exodus Wallet :
- ❌ Closed Source Software: The closed-source nature of Exodus’s software may raise concerns for security-conscious users, as they have limited visibility into the codebase and potential vulnerabilities.
- ❌ Lacks 2FA Security Protection: Unfortunately, Exodus currently lacks Two-Factor Authentication (2FA), which is an additional layer of security desired by some users to protect their accounts from unauthorized access.
Exodus is a user-friendly desktop and mobile wallet known for its straightforward interface and built-in exchange. With the ability to swap between over 250 cryptocurrencies, it offers great versatility for users. Beginners appreciate its simplicity and excellent customer support, making it an ideal entry point.
However, more advanced users might find it lacking due to its closed-source nature, raising potential security concerns. Despite this, Exodus allows custom fee settings and ensures prompt transaction completion, adding to its appeal for users seeking cost-effective and efficient transactions.
What can you do with your Ethereum in NZ?
Decentralized finance (DeFi) is one of the most prominent uses of Ethereum technology, and it’s gaining popularity in New Zealand. With DeFi, anyone with an internet connection can access banking services previously only available to a select few.
In New Zealand, you can use your ether as collateral to secure loans or earn interest on your funds by providing liquidity. DeFi is revolutionizing the traditional banking system, and many New Zealanders are exploring this exciting new financial frontier.
The Best Way to Buy Ethereum in NZ
After trialing all services mentioned above, we’ve found that Easy Crypto NZ is the clear winner for the best place to buy Ethereum in NZ. ⭐⭐⭐⭐⭐
This is thanks to EC’s streamlined signup and verification system, decent prices, range of payment options, delivery speeds, and large coin selection.
Easy Crypto NZ makes it possible for Kiwis to create an account, have it automatically verified, and complete an order to buy ETH in NZ within 20 minutes or less after signup.
It’s the no-brainer option for anyone who appreciates speed, security, and ease when buying Ethereum. Follow our guide below to learn how to effortlessly buy Ethereum.
How to Buy Ethereum with Easy Crypto in NZ
Before getting started with Easy Crypto, you first need to set up a cryptocurrency wallet so you have a safe place to store your Ethereum in.
Once you’ve got that, follow the steps below:
Create your account
A) Head to the Easy Crypto NZ website – https://easycrypto.ai/nz
C) Select your sign up method
D) Provide Easy Crypto NZ with your email address and create a password
E) Click ‘Verify account’
Congrats, you’ve just completed the first step 👏
Verify your account
In NZ, all regulated Ethereum exchanges are required to collect and document their user’s data and information, to comply with NZ anti-money laundering laws.
This means whenever you use a regulated NZ ETH exchange to buy and sell Ethereum, your account and identity need to be verified in order for you to trade.
Easy Crypto makes this easy, making it possible to have your account automatically verified in 5 minutes or less.
A) Provide Easy Crypto with your basic details
B) Provide Easy Crypto with your home address
C) Inform Easy Crypto about your source of funds
D) Click ‘Automated Verification’
You are now at the cross roads between verifying manually or with ECNZ’s automatic verification system.
We’d highly recommend going with automatic verification, as this is the system that will allow you to verify your account in less than three minutes.
ECNZ’s automatic verification is famously easy, and it includes a walk-through guide on the inside, which we’ll let you discover yourself. 🙂
Once you’ve completed it, continue below to learn how to buy Ethereum in NZ with your verified Easy Crypto account.
Create your Ethereum order
It’s now time to create your order for your first Ethereum purchase ever.
For many people, making an order to buy Ethereum can feel very unfamiliar and a little scary at first. From my personal experience, this is universal, and it’s expected you’ll feel some sort of fear or stress buying Ethereum for the first time.
But don’t worry, I’m right here to walk you through.
Through ECNZ, you can purchase as little as $50 NZD worth of ETH, so we’d recommend starting with a small amount to help make you more comfortable.
A) Head back to the Easy Crypto NZ homepage and navigate to the exchange widget
B) Insert the NZD amount of how much ETH you wish to buy, and click ‘Buy Now’
C) Provide Easy Crypto with your Ethereum wallet address, and click ‘Next Step’
Note – It is extremely important you provide EC with your correct wallet address.
D) Select your payment method, and follow through with it!
You have three options for payment methods:
A payment tool that allows you to sign in with your bank account and pay instantly from any account of your choosing. Learn more about Account2Account.
Another payment tool that allows you to pay instantly, directly from your bank account. Learn more about POLI Pay.
Manual Bank Deposit
The old classic manual bank transfer. Easy Crypto provides you with an account, an amount and a reference number, and you deposit NZD into it.
Recommendation – Account2Account; it’s easy, trusted, and allows you to pay for your order instantly. This means your order completes instantly, so you receive your crypto near-instantly too. Manual bank transfer on the other hand can take up to 2 hours, a whole night, or even the weekend.
Now that you’ve paid and your order is complete, the final step is to hold tight while Easy Crypto NZ delivers your Ethereum to your wallet. This usually takes between 5-30 minutes, so check back with your Ethereum wallet shortly, it is on its way!
If you don’t receive your Ethereum within an hour, you can reach out to the Easy Crypto helpdesk to discover the status of your order, which you can also find on your ‘My Orders’ page under ‘My Account’.
FAQs about Ethereum in NZ
How to keep your Ethereum safe in NZ?
To keep your Ethereum safe in New Zealand, you should follow these best practices:
- Use a secure wallet: Choose a reputable and secure wallet to store your Ethereum. Hardware wallets like Ledger Nano S or Trezor are considered the most secure, as they keep your private keys offline and away from the internet.
- Enable two-factor authentication: Enable two-factor authentication (2FA) on your wallet and exchange accounts. 2FA adds an extra layer of security to your accounts by requiring a second form of verification, such as a code sent to your phone or email.
- Backup your private key: Keep a backup of your private key or recovery phrase in a safe and secure location. Losing your private key means losing access to your Ethereum, so it’s crucial to keep it safe and secure.
- Beware of phishing scams: Be wary of phishing scams that try to steal your private key or login credentials. Only access your wallet or exchange accounts from trusted and verified sources, and never share your private key or recovery phrase with anyone.
- Keep your software updated: Keep your wallet software and antivirus programs updated to prevent any potential vulnerabilities and security breaches.
What is unique about Ethereum compared to Bitcoin?
Since its launch in 2015, Ethereum has been making waves in NZ’s crypto scene. Although it shares some similarities with BTC, there are some significant differences.
Like Bitcoin, Ethereum enables you to use digital money without the involvement of banks or payment providers. However, Ethereum is also programmable, which means that you can build and deploy decentralized applications on its network.
This programmability makes Eth a general-purpose blockchain that can be programmed to do just about anything. The possibilities for innovation on the network are endless!
Bitcoin is primarily a payment network, while Ethereum is more like a marketplace of financial services, games, social networks, and other apps that respect your privacy and cannot censor you. The flexibility and programmability of Ethereum make it an exciting platform for Kiwis looking to explore the world of cryptocurrencies and dApps.
Ether vs Ethereum - What is the difference?
In the world of cryptocurrency, Ether (ETH) and Ethereum are two related but distinct terms that are becoming increasingly popular in New Zealand.
Ether is the native cryptocurrency of the Ethereum blockchain, and it’s used to pay for transaction fees and incentivize network participants to maintain the Ethereum network. Many Kiwis use Ether as a store of value, a means of exchange, or as an investment tool.
Ethereum, on the other hand, is a blockchain platform that enables the development and deployment of decentralized applications (dApps) and smart contracts. It offers developers in New Zealand a programming language called Solidity, which they can use to create custom dApps and smart contracts. The Ethereum blockchain is also used to process transactions and store data in a decentralized and secure manner.
What is ETH 2.0?
ETH 2.0 is an upgrade to the Ethereum blockchain that will make it faster, more secure, and more environmentally friendly. It's like a major renovation of a house to make it better.
The upgrade will be released in different phases, with the first phase already launched in 2020. As more phases are released, ETH 2.0 will become better and more reliable for users.