For New Zealanders seeking to buy Monero, the intricate and contentious landscape of cryptocurrencies can be daunting. Nevertheless, this guide will furnish you with the essential information to acquire Monero securely, conveniently, and affordably in NZ.
What is Monero in New Zealand?
Monero is a privacy coin that offers users in New Zealand and around the world with enhanced privacy and anonymity when making transactions. Launched in 2014, Monero uses advanced cryptography techniques such as ring signatures and stealth addresses to hide transaction information and prevent tracking of its users, wallet and transactions.
For users in New Zealand who are concerned about privacy and want to keep their financial transactions confidential, Monero might be an appealing option.
Can I buy Monero in New Zealand?
Yes, it is possible to buy Monero in New Zealand. There are several cryptocurrency exchanges, brokerages and P2P Marketplaces that allow users in New Zealand to purchase Monero using New Zealand dollars or other cryptocurrencies.
How to Buy Monero in New Zealand?
To buy Monero in New Zealand, you may use one of the following options listed below.
Cryptocurrency exchanges: Online platforms that allow you to buy and sell Monero using New Zealand dollars or other cryptocurrencies.
Peer-to-peer Crypto marketplaces: Platforms that connect buyers and sellers directly, allowing for more flexibility in payment methods. (Such as NZ’s own P2P marketplace)
Brokers or Retailers: Such as Easy Crypto NZ (however will require you to KYC).
Where can you Buy Monero in New Zealand?
At Cryptocurrency NZ we believe the P2P system would be most suited for user in New Zealand who values security, decentralization and anonymity.
Cryptocurrency NZ Recommendation 🏆
NZ P2P Crypto Marketplace
The NZ P2P crypto marketplace is considered one of the largest and best in the country, offering a user-friendly and secure group for buyers and sellers of cryptocurrencies. This marketplace operates on a decentralized model, allowing users to conduct transactions without the need for intermediaries, such as banks or traditional exchanges.
Discord: NZ P2P Crypto Marketplace
|✔️ Anonymous P2P: Connect kiwis to other P2P traders in NZ||❌ Lower Volume: May not have as much liquidity or volume compared to larger centralized exchanges.|
|✔️ Variety of methods: Accepts multiple payment methods.||❌ Government Regulation: Potential for future regulatory oversight by government authorities.|
|✔️ local Group: Operates within NZ||❌ Scams & Frauds: Scammers and fraudsters can be present.|
|✔️ Community Trust: Has established a strong level of trust within the community.|
Registration, purchasing, and selling of Monero in the group are entirely free. Some kiwis who create ads on the NZ P2P Crypto Marketplace do charge a premium. (ranges from 1-10%)
LocalMonero is the largest and most reputable peer-to-peer (P2P) trading platform for Monero in the XMR community, with a well-established presence.
|✔️ Anonymous P2P: Facilitates private peer-to-peer trading.||❌ XMR only: Only Monero is available for sale on the platform.|
|✔️ Variety of methods: LocalMoerno Accepts multiple payment methods.||❌ Anonymous Team: The project team's identity remains unknown.|
|✔️ International platform: Operates as an international platform.||❌ Government Regulation: Potential for future regulatory oversight by government authorities.|
|✔️ Community Trust: Has established a strong level of trust within the community.||❌ Lower Volume: LocalMonero may not have as much liquidity or volume compared to larger centralized exchanges.|
Registration, purchasing, and selling of Monero on the platform are entirely free. Users who create ads on LocalMonero are only charged a 1% fee for each successful transaction.
Bisq is a desktop application that is open-source and enables the buying and selling of Monero in New Zealand with fiat currencies or alternative cryptocurrencies.
|✔️ DEX: No KYC required to begin trading, therefore provides instant approval for withdrawals.||❌ Lower Liquidity: Compared to centralised exchanges it may lack lower liquidity.|
|✔️ World wide: No geographical restrictions, including New Zealand.||❌ Bisq fees: Trading fees are a bit on the higher side.|
|✔️ Easy to buy: Allows kiwis to buy almost all leading cryptocurrencies, including Monero.||❌ Customer Support: Bisq has limited Customer support.|
|✔️ Wide Payment option: Various payment options are available.|
Bisq encourages traders to use BSQ by offering a discount of approximately 50%. More info can be found here.
What can you do with Monero in New Zealand?
As financial privacy becomes increasingly important, individuals and merchants of all types have begun to recognize the benefits of accepting Monero as a form of payment.
As a result, the number of merchants accepting Monero is growing steadily. If you’re looking for places to spend your Monero, the directories below have some options.
- Cryptwerk.com – Online directory with companies, websites, shops and services.
- Acceptedhere.io – Ultimate Database of companies accepting cryptocurrency.
However, it’s always recommended that you conduct your own research before entrusting any service with your funds.
FAQs about Monero in New Zealand
What is unique about Monero compared to Bitcoin?
Monero is distinct from Bitcoin, as it utilizes the CryptoNote protocol. Unlike Bitcoin, which is a fully transparent system revealing the exact amount of money transferred between users, Monero protects user privacy by concealing this information in all transactions.
Additionally, Monero incorporates a number of other unique features, such as dynamic block size and dynamic fees, an ASIC-resistant proof of work, and a tail emission, among others.
How is Monero's Privacy different from other coins?
Monero leverages three distinct privacy technologies - ring signatures, RingCT, and stealth addresses - to respectively obscure the sender, amount, and receiver.
Unlike other coins, all transactions on the XMR network are inherently private and it is impossible to mistakenly send a transparent transaction. This unparalleled feature provides users with complete control over their privacy and eliminates the need to rely on external entities.
Is Monero 100% Anonymous?
While Monero offers strong privacy protections, it's important to recognize that achieving 100% anonymity is not feasible. Even with Monero's privacy features, your anonymity set is limited to those using the cryptocurrency. Additionally, there's always the possibility of software bugs, and attackers may develop new methods of inferring information from Monero's privacy layers.
It's crucial to use multiple layers of defense when implementing security measures.
How does Monero have value?
The value of Monero in New Zealand is determined by its demand in the market. As with any cryptocurrency, if there is a high demand for Monero and limited supply, its price will increase. Conversely, if the supply exceeds demand, its price will decrease.