In the wake of Bitcoin’s latest all time high of $95,000 NZD, (a 240% increase from the pervious ATH) New Zealanders are increasingly becoming interested in learning how to safely and easily buy Bitcoin and other crypto in NZ.
In this guide, we’ll outline your options on how to buy Bitcoin (and other cryptos) with NZD.
TLDR: Best way to buy Bitcoin in NZ is through a Kiwi Crypto broker like Easy Crypto NZ.
What is Bitcoin in NZ?
Bitcoin is a digital currency that operates in a decentralized manner, without the need for banks or governments to oversee transactions. It was the first-ever cryptocurrency, launched in 2009 by an anonymous person or group known as Satoshi Nakamoto.
According to Nakamoto, Bitcoin was created to allow for direct online payments between parties, without the need for intermediaries such as financial institutions. Today, the entire crypto market is worth around $1 trillion, with Bitcoin accounting for 45% of the market.
Many investors view Bitcoin as a store of value and refer to it as “digital gold.” As a result, Bitcoin has become a popular investment choice for individuals looking to diversify their investment portfolio or hedge against inflation.
How does Bitcoin Work in NZ?
Bitcoin works the same way in New Zealand as it does in any other country around the world. It is a decentralized digital currency that operates on a peer-to-peer network and transactions are recorded on a public ledger called the blockchain.
When someone in NZ wants to buy or sell Bitcoin, they can use a crypto exchange, peer-to-peer marketplace, Bitcoin ATM, or work with a broker or dealer. Once they have Bitcoin, they can store it in a digital wallet and use it to make purchases or send it to others.
Where to Buy Bitcoin in NZ?
To buy Bitcoin or any other cryptocurrency in New Zealand, you can use one of the NZ Bitcoin platforms listed below. You can buy BTC in minutes depending on the platform.
Cryptocurrency exchanges: Online platforms that allow you to buy and sell Bitcoin using New Zealand dollars or other cryptocurrencies.
Peer-to-peer Bitcoin marketplaces: Platforms that connect buyers and sellers directly, allowing for more flexibility in payment methods. (Such as NZ’s own P2P marketplace)
Bitcoin ATMs: Machines that allow you to buy Bitcoin using cash or credit/debit cards.
Brokers or Retailers: Retailer refers to a business or individual who accepts Bitcoin as a form of payment for goods and services.
Bitcoin debit cards: Crypto cards that allow you to spend your Bitcoin at merchants that accept debit card payments without converting to New Zealand dollars first.
Best Bitcoin Exchanges in NZ
Cryptocurrency NZ Recommendation 🏆
Easy Crypto NZ
Easy Crypto NZ is New Zealand’s most popular cryptocurrency retailer, making it safe, fast, and easy for Kiwis to buy and sell over 97+ cryptocurrencies in minutes – including Bitcoin, Ethereum, and XRP.
|✔️ Accepts NZD: Easy Crypto is a New Zealand-based retailer, which means that users can buy and sell cryptocurrencies using New Zealand Dollars (NZD).||❌ Limited Features: Easy Crypto may not offer as many advanced trading features as some other exchanges, which may be a drawback for experienced traders.|
|✔️ 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.||❌ Trading Fees: The trading fees for less popular cryptocurrencies on Easy Crypto can be higher than on other exchanges.|
|✔️ 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.||❌ Limited options: Easy Crypto does not currently offer margin trading or futures trading, which may limit trading options for some users.|
|✔️ Secure platform: The platform is secure and uses industry-standard security measures to protect user data and funds.|
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%.
Kiwi-Coin is a Bitcoin exchange based in New Zealand that allows users to buy, sell, and trade Bitcoin using NZD. The exchange was founded in 2013 and has since become one of the most popular Bitcoin exchanges in NZ.
|✔️ Local currency: Kiwi-Coin allows users to buy, sell, and trade Bitcoin using New Zealand Dollars (NZD), which makes it easy for individuals to manage their BTC portfolio in their local currency.||❌ Lack of advanced features: Kiwi-Coin does not offer some of the advanced trading features that are available on other exchanges, which may be a disadvantage for experienced traders looking for more sophisticated tools.|
|✔️ Simple verification process: Kiwi-Coin has a simple and quick verification process that makes it easy for NZ residents to start trading Bitcoin.||❌Limited customer support: Kiwi-Coin's customer support can sometimes be slow to respond to user inquiries, which can be frustrating for those who require immediate assistance.|
|✔️ Simple to use: You don't have to make individual transactions every time you wish to buy or sell because Kiwi-Coin provides an account that contains both e-money (NZD) and virtual assets (BTC).||❌ Limited markets: The exchange solely allows for the conversion of Bitcoins into New Zealand dollars and vice versa. No further cryptocurrencies are accepted.|
|✔️ Trusted exchange: Kiwi-Coin is a trusted and reputable Bitcoin exchange that has been operating in New Zealand since 2013.||❌ Low Volume: The exchange is not particularly busy; daily trading volume hardly exceeds 1 BTC, and most days only a few dozen trades occur.|
Kiwi-Coin's trading fees vary depending on the trading volume and the type of order (maker or taker). The exchange uses a tiered fee structure, which means that as a user's trading volume increases, the fees decrease.
Taker orders, which are executed immediately at the current market price, the fees range from 0.40%.
Maker orders, which add liquidity to the order book by placing an order that is not immediately executed, the fees range from 0.25% to 0%, depending on the trading volume.
|Bank transfer: Free||Bank transfer: NZD $15 per withdrawal|
|POLi: 1% of the deposit amount (with a minimum fee of NZD 2)||Bitcoin Fees: Variable fees depending on the Bitcoin network and the congestion in the BTC Blockchain.|
Detailed version of Kiwi-Coin fees can be found here.
Founded in 2017, Dasset is an Auckland based Bitcoin exchange that aims to make Bitcoin accessible to everyone. Designed to cater to both retailer customers and professional traders, Dasset is a strong option for kiwis looking to buy and sell BTC in NZ.
|✔️ New Zealand-based: As a New Zealand-based exchange, Dasset offers local support and compliance with NZ regulations.||❌ Limited coin selection: Dasset currently only supports a handful of cryptocurrencies, which may not be sufficient for those looking to trade more exotic altcoins or tokens.|
|✔️ Easy to use: Dasset offers a user-friendly interface, making it simple for beginners to get started with cryptocurrency trading.||❌ Limited trading volume: Dasset has lower trading volume compared to larger exchanges.|
|✔️ Low fees: Dasset has some of the lowest trading fees among New Zealand-based exchanges, which can make it an attractive option for cost-conscious traders.||❌ Limited payment options: Dasset currently only supports bank transfers, which may not be as convenient as other payment methods like credit cards or online payment systems.|
|Taker fee||Maker fee|
|Limit Orders - National currency markets||0.35%||0.33%|
|Limit Orders - Digital asset markets||0.10%||0.08%|
|Market Orders & Retail||1.00%||1.00%|
Detailed version of Dassets fees can be found here.
The Best Way to Buy Bitcoin 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 Bitcoin 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 Bitcoin 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 Bitcoin. Follow our guide below to learn how to effortlessly buy Bitcoin with Easy Crypto NZ today.
How to Buy Bitcoin 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 Bitcoin 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 New Zealand, all regulated Bitcoin 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 Bitcoin exchange to buy and sell Bitcoin, your account and identity need to be verified in order for you to trade on your chosen exchange.
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 Bitcoin in NZ with your verified Easy Crypto account.
Create your Bitcoin order
It’s now time to create your order for your first Bitcoin purchase ever. Nice one!
For many people, making an order to buy Bitcoin 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 Bitcoin 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 Bitcoin, so we’d recommend starting with a small amount to help make you more comfortable for your future orders.
A) Head back to the Easy Crypto NZ homepage and navigate to the exchange widget
B) Insert the NZD dollar amount of how much Bitcoin you wish to buy, and click ‘Buy Now’
C) Provide Easy Crypto with your Bitcoin wallet address, and click ‘Next Step’
Note – It is extremely important you provide EC with your correct wallet address.
If you’re reading this and you haven’t a clue what a Bitcoin wallet address is, read up on our Bitcoin wallet guide to learn the basics. 👍
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.
Wait for your Bitcoin to arrive
Now that you’ve paid and your order is complete, the final step is to hold tight while Easy Crypto NZ delivers your Bitcoin to your wallet. This usually takes between 5-30 minutes, so check back with your Bitcoin wallet shortly, it is on its way!
If you don’t receive your Bitcoin 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’.
We hope this guide provided you with value in one way or another. Don’t hesitate to reach out to us for help, and we wish you the best with your Bitcoin investing journey!