Hardware Wallets NZ – New Zealand's Cryptocurrency

Ready to take the next step in crypto storage security? Follow our simple guide to find out which hardware wallet is the best for you and how to buy hardware wallets in NZ. 🔒

Updated for 2025
Hardware Wallets NZ

Hardware wallets are the safest way to store your cryptocurrency in New Zealand.

Whether you're holding Bitcoin, Ethereum, or a multitude of coins, hardware wallets provide a safe and easy vault for you to stash your NZ crypto investments long term.

Follow our guide to learn everything you need to know about hardware wallets in NZ – including how they work, how much they cost, and where to buy hardware wallets in NZ.

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Best Cryptocurrency Exchanges in NZ

Trezor Model T

Purchase Cost: $219

Cold Storage: YesCloud Storage: No

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 for New Zealanders seeking to safeguard their digital assets.

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Ledger Nano X

Purchase Cost: $287

Cold Storage: YesCloud Storage: No

The Ledger Nano X is the second-gen hardware wallet by Ledger, a French company established in 2014. Resembling a USB drive, it connects via USB or Bluetooth to iOS and Android devices, supporting over 5,500 tokens with continuous updates.

Ledger Live software complements the cold storage wallet, allowing easy management of diverse portfolios. With widespread popularity, the Ledger offers versatility by connecting via USB-C or OTG cable for smartphones.

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What is a Cryptocurrency Hardware Wallet?

Cryptocurrency Hardware Wallets

A hardware wallet is a type of crypto wallet that stores your private keys in a secure physical device, such as the multi-coin hardware wallets offered by Trezor and Ledger. Whenever you make an outbound transaction from a hardware wallet, you're required to physically approve the transaction from your device, via a connection to your PC or mobile.

hardware wallets

Your private keys never leave your wallet so they're virtually impossible to be penetrated or infected; hence why hardware wallets are known as the apex of crypto wallet security.

A hardware wallet simply put, is a very basic computer that's been stripped down to the bare necessities. The only capabilities of them are to store your private keys offline and sign transactions offline, making them virtually immune to online hacking attempts.

Pros and Cons of Hardware Wallets

Pros

  • Highest Security – Hardware wallets offer the highest level of security for crypto storage.
  • Multi-coin Support – Storing all of your assets in one place easily enables users to keep track of and trade or spend your cryptocurrencies.
  • Pin Protected – Most hardware wallets enable extra security through a pin or password so your funds cannot be randomly accessed if the hardware is stolen.

Cons

  • Price – Hardware wallets can be rather expensive. ($150 – $300+ NZD)
  • Replicas – Due to the high price, people naturally attempt to find a cheaper place to purchase, sometimes this results in these people being scammed with 'fake' hardware wallets.
  • Limited Accessibility – In order to make a transaction from your hardware wallet you must connect it to your PC or smartphone. Although this increases security, it decreases accessibility (this is easily solved by using both cold storage and hot wallet simultaneously).

Why Hardware Wallets Are The Best Wallets

In the realm of NZ crypto wallet security, hardware wallets such as Trezor and Ledger are hailed as the apex of safeguarding digital assets. Their fundamental strength lies in their offline operation, ensuring that private keys, (the critical access points to funds), remain untouched by potential online threats. This is why they are called 'cold storage' wallets.

Traditional software (online) wallets often fall prey to malware and phishing attacks, compromising the security of private keys. In contrast, hardware wallets are inherently immune to such threats. These devices execute transactions within the confines of a secure physical environment, keeping private keys isolated from malicious actors.

Tamper-evident packaging is another feature of hardware wallets, ensuring the integrity of the device by alerting users if it has been tampered with or opened. Additionally, these wallets generate a recovery seed phrase during setup, serving as a crucial backup. This seed enables users to restore their funds on a new device in case the original is lost or damaged, emphasizing the importance of secure offline storage for this backup.

Despite their advanced security features, hardware wallets are designed to be user-friendly. Equipped with intuitive interfaces, hardware wallets cater to both beginners and experienced users. Reputable manufacturers also commit to regular firmware updates, addressing potential vulnerabilities and reinforcing security measures.

In summary, the robust security mechanisms, offline operation, and user-friendly design position hardware wallets as the preferred choice for individuals seeking the highest level of security for their cryptocurrency holdings – essential for holding crypto long term.

What are Private Keys?

Private keys in the context of cryptocurrency prove ownership of assets associated with a particular wallet address and allow you to access and spend the assets in that address.

An easy way to understand this is if you think of your wallet as your online banking account, your private key is the login information for your account, allowing you to sign in and spend the funds or do as you wish with them.

Just the same as you want to keep your online banking information safe, you must keep your private keys safe. Otherwise anyone can log-in and access your account or wallet.

Important! You should never disclose your private Keys to anyone you don't want to have access to your crypto assets. There are lots of scams in the crypto world and many of them will ask for your private keys, you should treat these as the combination to your safe and never disclose them, no matter how 'legitimate' it may seem.

Each public receiving address (where you receive funds to) has its own corresponding private key, and unlike the public address, the private key enables anyone who knows it to access the address and therefore access the funds inside it.

When you first create a wallet, all of your private keys are automatically created using your 12-word seed phrase. When the 12-Word seed is run through a standardised formula, it is turned into a number called a seed integer, this can be thought of as your 'master private key'. An almost endless number of public and private keys can be created when your "master" private key is run through a standardised algorithm.

hardware wallets

Hardware Wallet Security Tips

To maximize the security of your crypto assets when using hardware wallets, consider these important tips:

  • Buy Direct: Always purchase hardware wallets directly from the manufacturer's official website.
  • Backup Seed Phrase: Store your recovery seed phrase in a secure, offline location, preferably in a fireproof and waterproof container.
  • Never Share: Never share your private keys or seed phrase with anyone, even if they claim to be from customer support.
  • Update Firmware: Regularly update your device's firmware to ensure you have the latest security features.
  • Verify Addresses: Always verify receiving addresses on the device screen, not just on your computer.
  • Use Strong PINs: Set a strong PIN code for your device to prevent unauthorized access.
  • Physical Security: Keep your hardware wallet in a secure location when not in use.

How to Buy a Hardware Wallet in NZ

Buying Hardware Wallets in NZ

It is always recommended to buy your hardware wallet directly from the manufacturer, rather than from places such as TradeMe due to the threat of tampered-with wallets.

However, there are a number of trusted vendors within NZ that stock brand-new, authentic cryptocurrency hardware wallets, such as the Trezor model T or Ledger Nano X.

Note: If you're ever worried you're late to the crypto party, remember Noel Leeming, Harvey Norman, and JBHIFI are yet to stock any type of Bitcoin or cryptocurrency wallet in NZ.

Buying from the Trezor or Ledger website is theoretically the safest option, but buying from within NZ means you get your wallet delivered to you faster. This decision is on you.

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Trezor vs Ledger

At Cryptocurrency NZ, we strongly endorse Trezor and Ledger as the two most reputable hardware wallet providers. Both companies excel in security, offering excellent options.

hardware wallets

While most hardware wallets serve the same purpose, there are notable differences between Trezor and Ledger products. Our personal preference leans towards the Trezor Model T, but both brands are industry leaders with outstanding options to explore.

Below, we highlight key features and differences between the latest and most advanced wallets from both companies – the Trezor Model T and the Ledger Nano X.

Trezor Hardware Wallet

hardware wallets
  • Ease of use:Trezor T devices are extremely easy to use and set up. They are rated slightly higher in ease of use than the Ledger equivalent due to their large colour touchscreen (240×240 pixels).
  • Application:Trezor offers two applications that can be used in conjunction with the hardware wallet, Trezor Wallet and Trezor Suite. These applications are multifunctional platforms designed to increase the ease of configuring and managing Trezor devices. Currently the apps are only available to download on PC, however Trezor have plans to introduce a mobile app.
  • Price:The Trezor model T is priced at $270 NZD (at the time of writing).
  • Supported Coins:Trezor hardware wallets support over 1800 different cryptocurrencies, although this number is likely to increase.
  • Connectivity:Trezor devices are connected to your computer or phone via a USB-C cable (currently Trezor devices can only connect to android phones, though it is likely this will become available in the future for iphones as well). Trezor has opted out of offering a bluetooth connectivity function to reduce the wallet's exposure.
  • Open Source:Since day one everything about Trezor hardware wallets has been completely open source, meaning anyone can view and audit their hardware or software; this consequently strengthens the security of their product as everything gets tested by a great number of experts.
  • Features:Wallets enable you to send, store, receive, and trade your cryptocurrencies as well as control the transaction fees according to your personal needs.

Ledger Hardware Wallet

hardware wallets
  • Ease of use:The Ledger nano X is also relatively easy to use and set up. Although the screen is slightly larger than their previous model, with 128×64 pixels it still falls short in comparison to that of the Trezor.
  • Application:Ledger also offers applications (for both mobile and PC) to assist in managing your crypto assets, additionally each cryptocurrency has its own 'app' that can be downloaded onto the hardware wallet; this can be rather tedious in comparison to Trezor devices which come preloaded with the equivalent capabilities.
  • Price:The Ledger Nano X is priced at $230 NZD (at the time of writing).
  • Supported Coins:The Ledger Nano X currently supports over 1800 different tokens and the device can be downloaded with up to 100 'apps' at the same time. The number of supported tokens is likely to increase as new tokens gain traction.
  • Connectivity:The Ledger Nano X can be connected both via usb cable as well as bluetooth, the bluetooth function enables connectivity with both android and Apple.
  • Open Source:Ledger hardware wallets run on their own closed source operating system (OS). Meaning their OS cannot be audited by third parties.
  • Features:Ledger hardware wallets enable users to send, store, receive, and as of recently sell cryptocurrencies directly through the wallet as well as determine the network fee you pay based on your preferences.

Hardware Wallet Security Tips

To maximize the security of your crypto assets when using hardware wallets, consider these important tips:

  • Buy Direct: Always purchase hardware wallets directly from the manufacturer's official website.
  • Backup Seed Phrase: Store your recovery seed phrase in a secure, offline location, preferably in a fireproof and waterproof container.
  • Never Share: Never share your private keys or seed phrase with anyone, even if they claim to be from customer support.
  • Update Firmware: Regularly update your device's firmware to ensure you have the latest security features.
  • Verify Addresses: Always verify receiving addresses on the device screen, not just on your computer.
  • Use Strong PINs: Set a strong PIN code for your device to prevent unauthorized access.
  • Physical Security: Keep your hardware wallet in a secure location when not in use.

Selling Crypto in NZ Commonly Asked Questions

Yes – you can sell 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 typically takes less than a day to sell Bitcoin, Ethereum and other crypto in NZ – depending on your service of choice. It's possible to sign up with an NZ crypto exchange or retailer like Easy Crypto NZ, verify your account, sell crypto and have it delivered to your personal bank account within a day.

Crypto Selling 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, send the crypto and complete your order - and how long it takes for your chosen service to dispatch your fiat to your bank account.
  • Network processing speeds; how fast crypto transactions are processed by the crypto networks. (This is not in the control of your chosen service)

The charges for selling bitcoin vary based on the payment method and platform utilized.

For instance, if you’re selling to a friend and completing the transaction with cash, you’ll only have to account for the ‘network fee’ for transferring the bitcoin from your digital wallet to theirs.

If you’re receiving payment via bank transfer, you’ll need to include the applicable fees.

Additionally, exchange services impose fees for managing trades, which encompass operational expenses and a slight markup.

Ready to start your crypto journey? View all NZ exchanges →

Cryptocurrency NZ Final Verdict

Using a hardware wallet to store your private keys offline is the safest way for you to store your cryptocurrency, but your hardware wallet is only as safe as you allow it to be.

You should never tell people how much crypto you're holding, never disclose your private keys or recovery phrases (to anyone or on any device that connects to the internet), never put yourself in a position to be vulnerable to a '$5 wrench attack', and always double check addresses before signing off on transactions – never try manually type wallet addresses.

Both the Trezor model T and the Ledger Nano X are excellent options for hardware wallets in NZ and we encourage you to do your own research to see which suits your preferences.

We at Cryptocurrency NZ actively use and would recommend the Trezor T due to its simplicity in operation, sleek design and large touch screen, compatibility with Exodus, as well as the founder's belief in the power of open source. The Trezor is the most highly respected hardware wallet producer in the world, a wallet used by thousands of Kiwis.

We hope this guide has provided you with value in one way or another, and hope we've encouraged you to make the next step in securing your Bitcoin other crypto wallets in NZ.