Buy Crypto & Bitcoin in New Zealand

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  • Popular Exchanges to Buy Crypto & Bitcoin in New Zealand
  • Independent Reserve logo
    Independent Reserve
    BUY NOW at IR's Secure Site
    Fees
    0.02% - 0.5%
    Account Minimum
    None
    Promotion
    None
    • Low fees, NZD deposits, DCA
    • EFT, POLi, Osko & SWIFT
    • Top cryptos, tax reports, local support & OTC desk

Established in 2013, Independent Reserve is one of the most trusted exchanges in Australia & New Zealand. It caters to retail users, traders, SMSFs and institutions. You can buy Bitcoin using EFT, Osko/PayID, POLi and SWIFT. They use encrypted, geo-dispersed data centres and top tier underground vaults to protect your data and crypto.

This is an ad. We may receive compensation when you use Independent Reserve. Please visit Independent Reserve for its exact pricing terms.

Pros
  • Supports automatic buying at set time interval
  • Wide range of payment methods
  • Support for AUD, NZD, and USD
  • Fees start at 0.5% but may fall as low as 0.05%, depending on trading volume
Cons
  • User interface is confusing for first time buyers
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Ease of Use
Average
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

SwyftxSwyftx

Swyftx, established in 2017 and targeted at New Zealand users, aims to make crypto buying super simple for beginners with an easy to understand user interface, great guides, fast chat support, and an app for every device.

They support deposits with credit card.

This is an ad. We may receive compensation when you use Swyftx. Please visit Swyftx for its exact pricing terms.

Pros
  • fast chat and phone support
  • 230 trading pairs
  • multiple payment methods
  • Supports automatic recurring purchases
  • Instant verification
Cons
  • ID verification required when depositing NZD
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

easycrypto.comeasycrypto.com

easycrypto.com is a great site to buy Bitcoin and other cryptocurrencies for those in New Zealand, Australia, South Africa, Brazil, and Nigeria. EasyCrypto has really made a name for itself by trying to service emerging markets with a sleek, easy to use platform and great guarantees.

Pros
  • 100% Funds Safety Guarantee
  • Ability to Set Recurring Orders
  • Convert Easily Between Cryptos
Cons
  • Low privacy ID verification
ease icon
Ease of Use
Easy
privacy icon
Privacy
Low
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Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High

CoinmamaCoinmama

Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.

Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
ease icon
Ease of Use
Easy
privacy icon
Privacy
Low
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Speed
Fast
fees icon
Fees
Average
reputation icon
Reputation
Trusted
limits icon
Limits
High

PaybisPaybis

Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.

Pros
  • 24/7 live support
  • Extremily high limits
  • 5 Minute verification
  • Get payouts fast
  • Large selection of payment methods
Cons
  • No traditional orderbook for advanced traders
ease icon
Ease of Use
Easy
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High

Kiwi CoinKiwi Coin

Kiwi Coin is a Bitcoin exchange based in New Zealand. You can fund your exchange account with New Zealand domestic bank transfer. Fees are about 0.6% per purchase.

Pros
  • Trusted Bitcoin exchange based in New Zealand
  • One of the cheapest ways to buy bitcoins in the country
Cons
  • Limited payment options
  • Not a good way to buy privately
ease icon
Ease of Use
Average
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High

You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.

Pros
  • Our map makes it super easy to find a Bitcoin ATM near you
Cons
  • Bitcoin ATMs often have 5-10% fees per purchase

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Bitcoin & Cryptocurrency Trading in New Zealand


Since the popularization of bitcoin, different countries around the globe have had varying rates of adoption. New Zealand played a part in this by becoming the first-ever country to approve salary payments made in the digital currency. 

To find out more about Bitcoin in New Zealand, read on as we discuss the past, present, and future of BTC in NZ.

Adoption of Bitcoin in New Zealand

The adoption of bitcoin in NZ started off slow, and did not see as dramatic leaps as in places such as South America, Turkey, and South Africa. One of the reasons for this could be that New Zealand has a stable and healthy economy. The NZ dollar is strong, deflation is low, and New Zealanders are able to transfer money internationally with relative ease.

In contrast, people in countries such as Venezuela jumped at the chance to use cryptocurrencies as a way to escape the unmanageable rate of devaluation on their own currencies. 

Although the initial use of bitcoin was gradual, as a tech hub New Zealanders quickly became interested in bitcoin and its underlying blockchain technology. Things have come a long way since the early days of bitcoin. NZ's bitcoin and cryptocurrency sector is reported to be booming with developments, and at any given time there is likely to be a selection of blockchain events taking place in NZ. 

A recent survey by Financial Services Council (FSC) reported that 40% of the Kiwis surveyed either already own cryptocurrencies or plan to purchase digital coins in the future. This is a rise of 7% from the March 2020 survey.


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Wellington is New Zealand's tech hub

One of the easiest ways to buy Bitcoin in New Zealand is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in New Zealand, allowing you to select one based on your requirements and preferences using our list outlined above. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet).

Unfortunately for bitcoin users, New Zealand does not boast the thousands of bitcoin ATMs that the US does. Even though it is a center of blockchain innovation.

While the US is home to over 4,000 BTC ATMs, currently, there is no Bitcoin ATMs in New Zealand


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Best Bitcoin Wallets for New Zealand



There are three main types of Bitcoin wallet and all of them are supported in New Zealand:

  • Software (desktop or mobile - iOS and Android wallets
  • Hardware wallet
  • Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

Best for Security

ledger nano x

Ledger Nano X

Secure storage for any cryptocurrency

More About
Ledger Nano X

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Best for Desktop

electrum logo

Electrum

Simple yet powerful desktop wallet

More About
Electrum

Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.


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Exchange Hacks and Crypto Scams in New Zealand


Although it is unknown to many, one of the world's biggest exchanges, Crytopia was based in New Zealand. Set up in 2014 as a hobby, the exchange saw an explosion of use as the value of bitcoin skyrocketed. 

Unfortunately, in January of 2019, the exchange was hacked for $3.2 million of crypto and was liquidated shortly thereafter. The Cryptopia hack was one of the biggest of a rash of hacks that followed during 2019. It was recently reported that a worker at Crytopia had raised concerns about the security of users' private keys and even made his own copy of the keys on a USB drive as proof of the problem. In 2021, another former employee plead guilty to the theft of $172,000 in cryptocurrency using a copy he had made of users’ private keys.


cryptopia hack headline


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Bitcoin Mining in New Zealand


Although New Zealand's name has come up a lot in connection to mining (thanks to the popular stat that bitcoin mining uses more power than the whole of NZ)—New Zealand actually doesn't do all that much bitcoin mining.

There is no exact data available. However, New Zealand's' electricity price is above the global average. This makes mining in NZ less profitable than in other countries such as Iceland or Kuwait. 


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Cost of electricity in New Zealand by year - higher than global average


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FAQ


Does Coinbase work in New Zealand?

Coinbase ONLY allows crypto-to-crypto conversions for New Zealand residents as of September of 2020.

Where Can I Find a Bitcoin ATM in New Zealand?

Unfortunately, there are no Bitcoin ATMs in New Zealand as of September 2020.

You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.

What is the price of Bitcoin in New Zealand?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

How do I cash out of Bitcoin in New Zealand?

Any exchange with a New Zealand Dollar (NZD) trading pair will allow you to sell your Bitcoin for fiat currency. Independent Reserve has NZD trading pairs for many popular coins.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.

About the Author

jordan tuwiner
Jordan Tuwiner

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets.

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