Kiwis Accepting Bitcoin NZ

How to Accept Bitcoin and Crypto as a Payment in NZ Guide

Do you own a business in NZ and want to accept cryptos like Bitcoin and Ethereum as payment for goods and services? Follow our simple guide to upgrade your business to the crypto age!

As cryptocurrency adoption rates hit 7% in New Zealand with approximately 350,000 + Kiwis owning Bitcoin or other crypto, the question ‘where can I spend my crypto‘ and ‘how can my NZ business accept cryptocurrency as payment‘ is becoming increasing popular. 

In this guide, built in collaboration with our good mates over at PIN – Pay it Now; we’ve researched, mapped and documented the best ways to accept crypto as payment in NZ. 

Enjoy, and welcome to the future of money! 

Bitcoin Ethereum Monero Buy Sell NZ Market Place

Why Accept Crypto As a Payment Method?

Crypto enthusiasts are a particularly devoted kind, with many of us preferring to support businesses who accept crypto over those who don’t. We get that our money, is our vote. 

In New Zealand, there’s estimated to be 400+ or so business who already accept Bitcoin or crypto as a payment method, tapping into the ever growing number of potential customers wishing to spend their coins on various goods and services. And because it’s still so early days, there’s a decent chance your NZ business may be the first of it’s kind to do so… Like when our mate Charlie Kavanagh became the first gelato shop in NZ to accept crypto. 

If you want to stand out, lead your industry, generate new customers or just support the emerging crypto age, accepting it is the easiest way to put yourself on the crypto map. 

Bitcoin and Cryptocurrency NZ New Zealand Kiwi

How Can Kiwis Spend Crypto in NZ?

New Zealanders have many options for spending their cryptocurrencies in NZ, such by as using crypto debit cards, spending their crypto via payment apps, engaging in peer to peer transactions, and outright paying for goods and services from businesses who accept it.

Buying things with Bitcoin

So, Where to Start? - How to Accept Payments

Getting set up to accept crypto payments is easy. The first step is to choose a provider or method that suits your business needs. Here are a few options available in New Zealand:

Pay it Now - PIN NZ Logo

Pay it Now - PIN


Pay It Now – PIN is the largest crypto payment network in New Zealand, with 300+ Kiwi businesses already using their payment system. They have done an incredible job at simplifying the process of accepting BitcoinEthereumPest Free Token + 15 other alts.  

PIN’s system automatically converts the customer’s crypto to NZD for you, meaning you are not risking volatility in cryptocurrency prices. You can choose to receive in crypto too. 

As a PIN Merchant, you join hundreds of others in being able to track and record payments through a simple app, ensuring easy access for every day New Zealand business owners. 

To apply to become a PIN Merchant, visit their website  👈


Another great option is to accept crypto payments directly through P2P transactions.

In this method, customers can transfer crypto directly from their wallet to yours. While this may seem convenient, it is important to note that you will receive cryptocurrency and will be responsible for converting it to fiat (NZD) yourself, provided that is your objective.

This conversion process will involve additional steps, potential conversion costs, and gas fees. This option is better suited to those wanting to keep the value within the crypto eco-system. You’ll also need to keep track of these trades for tax, which PIN’s app simplifies.

Customers won’t, however, have to verify their ID, like on AML compliant payment apps. 

As you’d expect, just be aware that holding the crypto assets yourself exposes you to market volatility and potential loss (or increase) of value – if you want to roll those dice. 

Visit our peer-to-peer crypto guide to learn more about P2P in NZ. 👍

Bitcoin Lightning Network NZ

Lightning Network

The Lightning Network is a less-known but effective P2P Bitcoin (BTC) payment system. 

It requires the use of a Lightning Network compatible app, used by both the customer and business to facilitate the transaction. It is a promising method to address Bitcoin (BTC) scalability and ensure instant transactions, however it has limited current adoption in NZ. 

Again, with the Lightning Network, you only receive Bitcoin (BTC), so converting these assets to NZD (if you wish to do so) would involve multiple additional steps and various fees, like Easy Cryptos. Additionally, market volatility can lead to a loss/increase of value.

 To find out more visit,

Getting Paid - Crypto or NZD?

If you choose to accept payments via P2P or the Lightning Network, you’ll receive only crypto. To convert these assets into NZD, if that’s what you want to do, you will need to transfer them to an exchange or retailer, incurs costs such as gas fees and exchange fees. These assets also expose you to market volatility and potential loss/gain of $ value.

Alternatively, Pay It Now’s PIN Network offers a built-in “crypto to fiat” conversion feature, eliminating the need for you to handle the conversion yourself. When a customer pays using the PIN Network, the crypto is instantly converted to cash and deposited into your Merchant Wallet. The transaction occurs at a 1-to-1 ratio, ensuring no loss of funds and zero volatility. PIN will then automatically deposit the funds into your New Zealand bank account, providing a completely hands-off experience for merchants using PIN’s Network.

Pay it Now Homepage NZ

So What's The Best Method?

Deciding what one to go with depends on your taste for ease, privacy, and the various pros and cons offered by each method. Pay it Now – PIN  is easy, local and doesn’t require Kiwi business owners to have real or advanced understanding of crypto to install and use. 

Whereas on the other hand, P2P is great, however it’s less streamlined and requires additional systems, provided you care for it. And Lightning only accepts Bitcoin (BTC), best suited for Bitcoin maximalists – however it doesn’t cater to the entire crypto user market.

For most of this guide, we focus exclusively on how you can use a New Zealand based payment processor like Pay it Now – PIN to accept crypto, just as easy as you would accept NZD – as that’s the most realistic for the average business owner new to crypto.

Ways to Accept Payments Using Pay it Now

Pay It Now’s PIN Network provides secure, affordable and hassle-free options to accept crypto payments in New Zealand. Here are the various methods currently available: 

PIN Network App

The PIN Network App is available for both Android and iOS devices, and serves as the primary method for users to conduct transactions. The app includes a built-in point of sale (POS) system that allows businesses to accept payments easily.

 Merchants can enter the transaction amount in the app, which generates a QR code. Customers can then scan the QR code using their PIN Network App and complete the transaction. 


Businesses can choose to display a QR code on their till or counter. When scanned by a PIN user, this QR code allows direct payment from the user’s app to the merchant’s account.

 This manual payment method doesn’t require the business to use their app or install any POS software. The user simply needs to enter the correct purchase amount. Suitable for stores with multiple staff members and high foot traffic environments.

Point of Sale System Intergration

Pay It Now has partnered with four POS software companies, including POS Perfect, SIPO POS, Salespoint and Lightspeed X.

If your business uses one of the above systems, you’re in luck!

Simply reach out to your POS provider to activate crypto payments, or email [email protected] for direct guidance. 

Online Payments

You don’t need to have a physical store to accept PIN Payments,  You can also accept them online. Pay It Now provides PIN Generate, an API that can easily be added to your website or online store. They are also integrated with Shopify, making it convenient for Shopify users to accept PIN Payments directly on site.

PIN Click

PIN Click is a unique feature that allows you to add a “Pay with crypto” button to email or PDF invoices.

If your business regularly sends out invoices to clients via email or uses PDF invoices, you can offer customers the option to pay using cryptocurrency alongside your other payment methods like NZD.

PIN offers features such as tax reporting, transaction history, account overview, and daily, weekly/monthly reporting for businesses. Having multiple payment options will provide your businesses with flexibility –  just choose the method/s that best suits you best . 

Marketing that you Accept Crypto - 101

Now that you accept crypto, you want to make this known to attract the most amount of potential customers. This part can be broken down into physical & online marketing. You want to ensure you have stickers, a counter stand, and a presence in the NZ online crypto community – as well as a spot on Zealand’s various ‘Bitcoin/Crypto Accepted Here’ maps. 

Bitcoin - PIN Accepted Here

Physical Marketing

Pay It Now provides a variety of in-store marketing materials to its merchants, including window stickers and counter stands, so you can inform your customers about the new payment option. There’s also general ‘Bitcoin accepted here’ stickers which you can purchase online. Many proactive merchants put these sticks on their shopfront glass.

Online Marketing

You’ll also want to put a ‘we accept Bitcoin/crypto‘ sticker on your website. Additionally, we recommend jumping on the NZ crypto FB group, Discord and Reddit, and making it that known you accept crypto. You’ll be surprised at how much support you may get from those seeking utility from their crypto holdings. If you’re the first business of your kind in NZ to accept crypto, definitely make that known – sticking your flag in NZ crypto history. 

You’ll also want to tap into the NZ crypto maps:

PIN Also regularly announces on their socials their latest merchants, gaining exposure and visibility across all the other PIN accepting businesses in NZ. Pay it Now is connected within NZ’s web3 industry in New Zealand and Australia; an instant perk of joining them.
They also have 15,000+ consumers already using the app to buy things with crypto in NZ. 
It’s also essential to leverage your own marketing channels to inform your current customer base that you are accepting crypto payments. Promoting this new payment option alongside your existing methods will maximize your opportunities and exposure. 

Accepted Cryptocurrencies:

PIN: Pay It Now accepts 18 cryptos, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Binance (BNB), Pest Free Token (PFT), Polygon (MATIC), and many more. In addition to cryptocurrencies, you can also accept traditional fiat currencies such as New Zealand Dollar (NZD), Australian Dollar (AUD), and United States Dollar (USD) through PIN.

Lightning Network: The Lightning Network exclusively accepts Bitcoin in the form of “sats,” which are the smallest unit of Bitcoin (1 satoshi = 0.00000001 BTC). 

Peer-to-Peer Trading: When accepting payments through peer-to-peer trading, you have the flexibility to accept various cryptocurrencies available in the Web3 ecosystem. These can include popular coins like Bitcoin (BTC), Ethereum (ETH), and others. However, it’s important to consider that each cryptocurrency carries its own value, exchange rates, and variable gas fees, which may affect the conversion process.

Benefits of Accepting Bitcoin & Other Crypto

Accepting cryptocurrency payments brings several benefits to your business, including:

  • Access to a thriving $1.8 trillion cryptocurrency market, which is in it’s early days.
  • Attracting an entirely new customer base interested in using crypto for transactions.
  • Offering an additional payment method that enhances convenience for your customers.
  • A payment method which is able to operate in the event of a power or eftpos outage.
  • Ability to differentiate your business further from competitors, stand out, and gain respect from the crypto community and no loss to your existing payment systems. 
Pay it Now - PIN NZ Logo

Additional Benefits With Pay it Now (PIN)

  • No sign-up costs or monthly fees associated with accepting crypto payments.
  • Fast transaction speeds, ensuring smooth and efficient payment processing.
  • Zero gas fees with every transaction.
  • Instant conversion of payments to fiat currency (NZD) directly into your bank account.
  • Joining a network that includes over 300 businesses and more than 15,000 users, making it New Zealand’s largest blockchain payment network


When accepting cryptocurrency as a payment you treat it the same as you would any other currency and convert it to NZD at the time you receive it. If you continue to hold the payment in crypto you will need to account for any gains or losses in the value of the cryptocurrency when you either convert it to a fiat currency or any other cryptocurrency.

The PIN app has a built in reporting to make it easy to keep track of your transactions.

If you use the PIN apps’ built-in “crypto to fiat” feature there’s no issues to worry about. Once the funds arrive in your bank account you treat the transaction the same way you always have when receiving cash. If you’re registered for GST any funds received will have the usual GST rules applied. If you then use the cryptocurrency to purchase goods or services again the usual GST rules apply for purchase but remember to account for changes in value of the crypto currency from the time you received it.

For clarification, we’d recommend asking Pay it Now or your crypto tax accountant. 

RecommendedMatt Shallcrass from Baker Tilly & Gross Group NZ



When considering accepting any form of payment, it is crucial to be aware of the relevant regulations in New Zealand. The Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) acts are important considerations. Certain transactions, especially those involving large dollar values, may need to comply with these regulations and framework. 

The Department of Internal Affairs (DIA) or Inland Revenue Department (IRD) may request proof of funds or source of funds, as can be requested for any normal method of payment, such as cash, Eftpos, or credit cards. Pay It Now is a certified Financial Service Provider (FSP) and is AML compliant, removing most of the bull shit and jelly beans from you. 

They perform Know Your Customer (KYC) processes, verify bank accounts, and complete the necessary checks and monitoring to ensure compliance with AML regulations. 


Similar to other industries like the stock market, or other currencies like the NZD or USD, the cryptocurrency market carries inherent risks and volatility. Cryptocurrencies are known for their price fluctuations. Therefore, when choosing a payment method or provider, it is essential to consider the potential risks associated with market volatility. Accepting crypto payments outside of a professional payment system can expose businesses to the risk of value loss, or value gain. However, when using the PIN Network, volatility is completely eliminated as cryptocurrencies are instantly converted to NZD for merchants.

 By not holding cryptocurrencies themselves, merchants avoid the risk of value loss.


FAQs (Frequently Asked Questions)

There are over 420 million cryptocurrency users worldwide, and the cryptocurrency market is currently valued at NZD $1.8 trillion.

Yes, it is perfectly legal to accept cryptocurrency payments in New Zealand. However, businesses will still need to comply with standard requirements such as AML regulations and tax compliance, including calculating GST on purchases.

With the PIN Network, the conversion process is automated and free of charge for merchants. For other payment methods, you will need to manually transfer the cryptocurrency to an exchange, which may involve additional costs.

Yes, any type of business can accept crypto payments through Pay It Now, or with P2P or Lightning. It is not limited to just physical stores , online businesses, mobile businesses (such as food trucks or market stall holders), and contractors (such as builders, plumbers, lawyers, or accountants) can all add crypto as a payment option.

Contact your point-of-sale provider and ask them to reach out to Pay It Now. They can work with any POS software company to integrate crypto payments and can provide assistance in setting up the PIN system.

The PIN App allows for multiple devices to be logged in simultaneously for staff to accept payments. Additionally, PIN QR offers a solution for accepting crypto without requiring a smartphone or app. Visit for more information.

  • Blockchain technology is highly reliable, and network outages are extremely rare. The PIN Network does not rely on the current banking system or Eftpos network. In the event of an Eftpos or power outage, the PIN Network will continue to function normally, enabling you to continue trading while others may face disruptions.
  • With the PIN Network, once a payment is made, it is instantly converted to fiat (cash) and securely deposited into your merchant account. At this point, it cannot be moved, transferred, or withdrawn. Pay It Now then transfers the funds directly to your business bank account.

Payouts to business bank accounts are processed daily, seven days a week.

With the PIN Network, there is only a 0.5% merchant fee per transaction. There are no additional costs or hidden fees involved. P2P or the Lightning Network have no fees.

Cryptocurrency transactions on the PIN Network are instant, and transaction speeds are comparable to regular Eftpos or contactless payment transactions.

No, there is a 0.5% merchant fee only when a transaction occurs. If no one pays using PIN, there is no cost to you. It is free to have cryptocurrency as a payment option available to your customers. A win-win situation for customer and business.

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Disclaimer: All content in this guide is intended for educational purposes only and should not be interpreted as financial advice. As an individual, you are entirely responsible for how you conduct your investments and manage your cryptocurrency interests. It is exclusively your own responsibility to perform due diligence and Cryptocurrency NZ recommends taking extreme care and caution with crypto and are not responsible for the outcomes, management, or oversight of your activities.