Bitcoin Crypto ATM NZ

Crypto ATMs in NZ- New Zealand Crypto Guide (2024)

Learn more about crypto ATMs - the physical kiosks that allow you to buy Bitcoin, Ethereum and other crypto with cash in New Zealand.

Finding a secure, easy and reliable place to buy cryptocurrency is a key step in any New Zealand crypto investor’s journey. But how effective are crypto ATMS for buying crypto?

In this guide, we dive into the history, current state, and effectiveness of buying Bitcoin, Ethereum and other cryptocurrencies through physical ATMs. We hope you enjoy this guide, and feel free to send us updated information on locations or NZ crypto ATM news.

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What are Bitcoin / Crypto ATMs?

Cryptocurrency ATMs, (also known as Bitcoin ATMs or crypto ATMs), are physical kiosks that allow New Zealanders to buy or sell cryptocurrencies using cash or credit/debit cards.

Crypto ATM machines bridge the gap between traditional fiat currency and digital assets, providing a user-friendly interface for cryptocurrency transactions. Unlike traditional ATMS, instead of dispensing NZD, you pay in cash and they send Bitcoin to your wallet

They do however, also come with drawbacks – such as mandatory KYC, withdrawal limits, higher fees, and the need to physically visit the ATM in order to buy crypto through them.

With many solid options available for acquiring crypto in New Zealand – such as via
NZ crypto exchanges and peer-to-peer, the question arises why are there not that many crypto ATMs running in New Zealand and why are they not a common way to buy crypto in NZ. 

There are several websites for tracking live crypto ATMs in NZ, such as Coin ATM Radar

Northlands Mall Crypto ATM NZ
Bitcoin / Crypto ATM in Northlands Mall, Christchurch

How to Find Crypto ATMs in NZ?

The easiest way to find crypto ATMs in NZ is either by word of mouth, such as the plugs on the NZ crypto groups about the crypto ATM at Northlands Mall, or by exploring one of the various global ATM maps – where ATM providers can list their operational machines. 

Here is a two websites devoted to documenting crypto ATMs world wide:

Crypto ATM Fees

Cryptocurrency ATMs are widely known for imposing steep charges on transactions. 

These charges typically comprise a cryptocurrency exchange fee, cash exchange fee, or card processing fee (if a debit card is used). Transaction costs can soar to 20% or higher, depending on the specific ATM (Olliv charges 15.99%) and the nature of the transaction.

ATM Fee

Research conducted by Coin ATM Radar reveals that on average, cryptocurrency ATM fees stand at approximately 15% per transaction, indicating a notably elevated level. While fees at some ATMs can be as modest as 2% to 4%, the majority tend to be substantially higher.

History of Crypto ATMs in NZ

The first Bitcoin ATMs in New Zealand broke ground in 2014, installed and launched on April 1st by Bitto on Karangahape Road. This was very early days, KYC wasn’t mandatory. 

Over the following years, various standalone crypto ATMs launched primarily across Auckland, with atleast one in Dunedin and according to whispers, some in Christchurch.

These ATMs were installed in bars, malls, and in some cases private venues dedicated to crypto education. It was also possible to find ATM listings on Facebook Marketplace. 
Theses ATMs were usually buy-only, managed by either local or international owners. 

In 2018, Bitcoin Central shutdown their ATM located in the Ironbar Cafe in Auckland, NZ. The reason given for shutting it down being ‘the negativity towards Bitcoin in the area’s banking sector made in impossible for the company to acquire proper banking facilities.’

On May 2022, new kid on the block Crypto Partners NZ begin their efforts in launching ATMs across NZ. It is understood they faced banking issues, as well as low demand due launching during a crypto winter. Crypto Partners NZ LTD has since been de-registered. 

On 12th October 2023, 1 News broke a story called “Network of cryptocurrency ATMs to roll out across New Zealand” – citing the recent developments in expansion to NZ by the world’s largest crypto ATM provider, Olliv. In one month, they had already installed 10 ATMs across Auckland, setting sights to install over 100 in New Zealand’s largest cities.

The advantage Olliv have is that they are based overseas, which has allowed them to secure banking services in order for their machines to operate. Almost all other NZ crypto ATMs were closed due to this reason, opening up the playing field to international ATMs.

At this time, almost all ATMs listed on international crypto ATM finders are Olliv’s ATMs. 

 

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Cryptocurrency NZ Final Verdict

The idea of setting up physical crypto kiosks is an interesting prospect which has been attempted by many local and international services, beyond what’s listed on this guide. 

The ATM sector in New Zealand is still in it’s infancy, either due to lack of demand, limited hosting locations, better ways to buy crypto, or the blatant anti-competitive behavior from NZ’s major banks – making it difficult to secure banking in order for ATM machines to run. 

The original appeal of crypto ATMs was that you could buy crypto in exchange for cash. These days, NZ AML laws require all NZ crypto services to perform mandatory KYC on their users, taking away much of the original appeal of using ATMs to buy with NZD cash.

There are now more mainstream ways to acquire crypto for cash in New Zealand, like P2P. We hope this guide provided value in one way or another, and don’t hesitate to suggest edits or updates. The crypto space is always changing, and we welcome ATMs in that mix.

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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.