How to Buy Cryptocurrency in NZ - 2023 Guide

Due to the increased awareness and adoption of cryptocurrencies in New Zealand, the NZ crypto scene is increasingly becoming the target of international crypto scammers, such as those lurking in the NZ P2P Marketplace and NZ’s other various crypto groups. 

• 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 naive Kiwi crypto rookies into sending them their crypto, usually via P2P scams. 
  
• Scams are everywhere in the cryptocurrency world and although this can be deeply discouraging, there are certain things you can do and 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 provide these details to anyone, granting them control of your assets.
  
• Always be wary of clicking random links that you do not recognise or trust, as these can be used by scammers and hackers to extract information about you, your device, your passwords or worse.
  
• 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 (yes, not the same one you use for every other account you have), and never passwords in your phone notes or social media accounts. 
  
• Always take your time to verify whether you are being scammed – 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 tactics.
• If in doubt, the NZ Crypto Community Facebook Group is a great place to post a query or screenshot and ask your peers for their opinions – NZ is lucky to have so many experts in this field who are willing to help out.