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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.
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.
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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.
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.
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.
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.
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%.
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.
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.
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
There are three main types of Bitcoin wallet and all of them are supported in New Zealand:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
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.
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.
Coinbase ONLY allows crypto-to-crypto conversions for New Zealand residents as of September of 2020.
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.
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.
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.