How To Buy Crypto in New Zealand

Cryptocurrencies are high risk speculative assets but have been accepted regardless by different countries. New Zealand is one of such countries who has accepted the use of these digital assets.

In this post, we will show you a step by step guide on how to buy cryptocurrencies in the country.

When it comes to buying bitcoin and cryptocurrencies in New Zealand, it might not difficult, you just have to utilize platforms established in New Zealand to provide some protection. When it comes to accepted fiat to buy cryptocurrencies, many exchanges do no accept the New Zealand Dollar, however, to buy bitcoin and other crypto in NZ, there are some guidelines you should follow.

Is Cryptocurrency Accepted in New Zealand

Cryptocurrency is still under regulations as it is difficult for Government to control since they cannot determine who owns what due to their storage system’s nature. The International Revenue Agency (IRD) does not recognize cryptocurrencies as legal money for tax purposes.

Step-by-step Guide How To Buy Cryptocurrency in New Zealand

Good news is, there are many wallets where you can store your purchased or traded crypto assets. These wallet is also accessible for iPhone, Android, Microsoft, and Macintosh platforms. One of these good wallets to use is the Exodus wallet. Get Exodus wallet on your elected device (iOS, Android, microsoft or Macintosh platforms) and start storing.

Take a look at the Bitcoin wallet on your computer. Using the right-hand side of the screen, click on the Receive button. Both a QR code and a string of numbers and letters will appear in your Bitcoin wallet address. Like bank account details, your Bitcoin address may be shared with others so they can transfer funds to you.

Sign up with a Trusted Exchange Platform

First, you must sign up with a trusted broker or crypto exchange platform and undergo an ID verification process before and then Bitcoin and other cryptocurrencies can be exchanged into New Zealand Dollars.

For this guide, we will be referring to Easy Crypto – a New Zealand based broker and also the best and a very user friendly platform for New Zealanders to purchase Bitcoin. Easy Crypto also supports other countries like South Africa and Australia.

Visit the Easy Crypto website and create an account to start with. Just click the Create Account button. Sign in using the way that works best for you. Fill out the necessary information (name, phone, etc.).

Confirm your identity with a proper Government issued identification card. Check your identity with Origin ID if you have a genuine New Zealand driver’s license or passport. All exchanges, including Easy Crypto, are required by law to conduct ID checks as part of their anti-money laundering and counter-terrorist financing procedures. To buy Bitcoin or other cryptocurrencies, you must first complete the authentication process.

Buying Bitcoin

After signing up, you can now buy Bitcoin and transfer it to your wallet. Lets go through the steps to do this:

  • Enter the desired purchase amount in Bitcoin (the minimum purchase amount is NZD 100).
  • Click the Buy Now button.
  • Make sure the wallet address you supplied here is the same as the wallet address you use.
  • Your purchase will be completed, and you will be sent a confirmation email once payment has been received.
  • As soon as you have received the Bitcoin, it will be deposited into your wallet.

Your Bitcoin wallet address may vary when you receive a Bitcoin payment, based on the wallets you use. However, you will still be able to receive transactions at your old address.

How to Maintain Security of your Cryptocurrency

Some steps must be taken to maintain security and protect your crypto asset if your mobile device is lost or stolen. Go to your Exodus wallet and visit the security settings page.

Decide on a strong and resilient key phrase. There are a few things to keep in mind before revealing your recovery phrase. So, don’t give away your wallet’s key with this charming phrase. Keep an eye out for anybody who may be able to see your phone or tablet, and don’t capture screenshots or send them through email or messaging applications.

Follow
( 0 Followers )
X

Follow

E-mail : *

Share On social Media 👇

LIKE THIS ARTICLE ?

Subscribe to receive daily updates of the latest articles delivered straight to your inbox.

Related Post



JOIN OUR NEWSLETTER

Subscribe to our Newsletter

Search

Sponsored







Sponsored



How To Buy Crypto in New Zealand

Posted by staff on December 27, 2021

cryptocurrency Insights & Tutorials


How To Buy Crypto in New Zealand

Cryptocurrencies are high risk speculative assets but have been accepted regardless by different countries. New Zealand is one of such countries who has accepted the use of these digital assets.

In this post, we will show you a step by step guide on how to buy cryptocurrencies in the country.

When it comes to buying bitcoin and cryptocurrencies in New Zealand, it might not difficult, you just have to utilize platforms established in New Zealand to provide some protection. When it comes to accepted fiat to buy cryptocurrencies, many exchanges do no accept the New Zealand Dollar, however, to buy bitcoin and other crypto in NZ, there are some guidelines you should follow.

Is Cryptocurrency Accepted in New Zealand

Cryptocurrency is still under regulations as it is difficult for Government to control since they cannot determine who owns what due to their storage system’s nature. The International Revenue Agency (IRD) does not recognize cryptocurrencies as legal money for tax purposes.

Step-by-step Guide How To Buy Cryptocurrency in New Zealand

Good news is, there are many wallets where you can store your purchased or traded crypto assets. These wallet is also accessible for iPhone, Android, Microsoft, and Macintosh platforms. One of these good wallets to use is the Exodus wallet. Get Exodus wallet on your elected device (iOS, Android, microsoft or Macintosh platforms) and start storing.

Take a look at the Bitcoin wallet on your computer. Using the right-hand side of the screen, click on the Receive button. Both a QR code and a string of numbers and letters will appear in your Bitcoin wallet address. Like bank account details, your Bitcoin address may be shared with others so they can transfer funds to you.

Sign up with a Trusted Exchange Platform

First, you must sign up with a trusted broker or crypto exchange platform and undergo an ID verification process before and then Bitcoin and other cryptocurrencies can be exchanged into New Zealand Dollars.

For this guide, we will be referring to Easy Crypto – a New Zealand based broker and also the best and a very user friendly platform for New Zealanders to purchase Bitcoin. Easy Crypto also supports other countries like South Africa and Australia.

Visit the Easy Crypto website and create an account to start with. Just click the Create Account button. Sign in using the way that works best for you. Fill out the necessary information (name, phone, etc.).

Confirm your identity with a proper Government issued identification card. Check your identity with Origin ID if you have a genuine New Zealand driver’s license or passport. All exchanges, including Easy Crypto, are required by law to conduct ID checks as part of their anti-money laundering and counter-terrorist financing procedures. To buy Bitcoin or other cryptocurrencies, you must first complete the authentication process.

Buying Bitcoin

After signing up, you can now buy Bitcoin and transfer it to your wallet. Lets go through the steps to do this:

  • Enter the desired purchase amount in Bitcoin (the minimum purchase amount is NZD 100).
  • Click the Buy Now button.
  • Make sure the wallet address you supplied here is the same as the wallet address you use.
  • Your purchase will be completed, and you will be sent a confirmation email once payment has been received.
  • As soon as you have received the Bitcoin, it will be deposited into your wallet.

Your Bitcoin wallet address may vary when you receive a Bitcoin payment, based on the wallets you use. However, you will still be able to receive transactions at your old address.

How to Maintain Security of your Cryptocurrency

Some steps must be taken to maintain security and protect your crypto asset if your mobile device is lost or stolen. Go to your Exodus wallet and visit the security settings page.

Decide on a strong and resilient key phrase. There are a few things to keep in mind before revealing your recovery phrase. So, don’t give away your wallet’s key with this charming phrase. Keep an eye out for anybody who may be able to see your phone or tablet, and don’t capture screenshots or send them through email or messaging applications.

Follow
( 0 Followers )
X

Follow

E-mail : *

Share On social Media 👇

LIKE THIS ARTICLE ?

Subscribe to receive daily updates of the latest articles delivered straight to your inbox.