How do i buy bitcoin in new zealand

Exchanges happen almost instantly because Changelly never actually controls your tokens but just exchanges them. Display Name. Transfer funds into your account. Get a complete list of exchanges that let you buy crypto with cash. Coinmama is one of these. Now, before you just straight away choose a random seller it is important to consider a few factors: Each seller has 2 numbers next to his username.

Read our beginner’s guide to buying Bitcoin (BTC) with step-by-step instructions.

Last updated: 10 January Buying Bitcoin is easier than you might think. The two main ways of buying Bitcoin are to find a Bitcoin broker and purchase directly, or to visit a cryptocurrency exchange and dp Bitcoin on the open market. This is our quick guide to just one way to buy BTC. Compare some other options in the table .

Buying Bitcoin in New Zealand on LocalBitcoins

For most people I just point them to a major exchange like Coinbase , which is super established and easy. You can even buy bitcoin with your credit card which I have done, and it works great. However, as usual, things are a little more complicated for us Kiwis. Big exchanges like Coinbase do not operate in New Zealand, and most exchanges that do operate in New Zealand are small and less established. The good news is, there are options for us to buy Bitcoin in NZ, and I have used several. In fact, the main platform recommended below is Aussie based, they just cater to NZers too. Keep reading!

Read our beginner’s guide to buying bitcoin (BTC) with step-by-step instructions.

For most people I just point them to a major exchange like Coinbasewhich is super established and easy. You can even buy bitcoin with your credit card which I have done, and it works great. However, as usual, things are a little more complicated for us Kiwis. Big exchanges like Coinbase do not operate in New Zealand, and most exchanges that do operate in New Zealand are small and less established.

The good news is, there are options for us to buy Bitcoin in NZ, and I have used. In fact, the main platform recommended below is Aussie based, they just cater to NZers. Keep reading! Before you buy Bitcoin, you should know what it is. I will try to spend the next five minutes explaining this as simply as possible. Bitcoin is a currency. It is something you can spend, like when you buy something, or save, like when you put money in the bank.

But the intended purpose of Bitcoin goes a bit wider than. Bitcoin is intended as a global currency. It is not restricted by class, citizenship or geography. It can be sent to and received by any person, anywhere in the world.

It is not controlled by any bank, government, company or person. This means, like the internet, it cannot be shut down at any central point. Bitcoin is also a digital currency. This means it does not exist in physical form. It exists only digitally. Bitcoin is also a decentralised currency, as it exists only on a technology known as the blockchain. Think about your bank account at ASB. The only party that can alter that database is ASB themselves.

The reason the banks could do this was because they were the only ones with access to the ledger. This has already happened many times. Blockchain aims to solve this problem but replacing centralised databases with decentralised ones. This means that when you pay someone, instead of you giving your money to ASB, and then ASB giving your money to Fred, you can just send your money directly to Fred. Usually, you would need to go to the bank, deposit the money, pay the bank to change it to a foreign currency, pay the bank to send it.

With a digital currency like Bitcoin, it can all be done in under an hour for less than a dollar in fees. Remember — peer to peer. Just link the internet changed the way we send mail, messages, and information, Bitcoin wants to change the way we send money. Along with increasing exponentially in value, it is now working its way into the mainstream.

Various shops in the USA now accept Bitcoin as payment for general goods and services, and it has been officially recognised as a currency in Japan. Malta, Korea, China and Russia have all come out as very Bitcoin friendly and are integrating it into their economy. It seems highly likely that it will eventually become an every day means of exchange, like the dollar and pound.

There is nothing wrong with these exchanges per seand you can use them if you wish. However, I generally recommend New Zealanders use a larger, more established exchange to invest in Bitcoin. The first reason is liquidity. Imagine how few people in our country are buying and selling Bitcoin?

What that means is, if you decide one day you want to buy two Bitcoin at the current price, there might not even be two Bitcoin for sale in New Zealand at that price! The same goes for selling — if you wake up one day and want to sell all your Bitcoin at the market price, there may not be any buyers. The second reason is security. If even the biggest exchanges in the world are vulnerable to hacks and there have been hacks in the pastyou can bet the smaller ones are vulnerable.

Of course every exchange has preventive measures in place, but I just prefer to invest with someone with slightly more resources to put towards the security of your coins.

Lastly, Kiwi exchanges are just a little backward in general. But there are ones I believe are better than. This is the platform I use most often, and am currently using for all my Bitcoin purchases today. The thing I like about Independent Reserve is the user experience is excellent. It is super easy to use.

However the main reason I use them is because of their prices. As a highly liquid exchange, they have the best prices in New Zealand, hands. You can deposit NZD straight into Independent Reserve from your online banking, and it usually shows within 48 hours. If you want to buy Bitcoin in NZ, this is the first exchange I recommend.

The first thing How do i buy bitcoin in new zealand Reserve will do is take you to your account details. By law Independent Reserve needs to collect some personal info from you, such as your name, address, DOB. The last thing you need to do is verify your identity. You should see a big blue box at the top of the page:.

This is the most arduous part of setting up your account but in reality should only take you five minutes. Get your passport or drivers license and snap a picture of yourself holding it up under your face.

I just used the webcam on my laptop and it worked fine. Just take a photo of your latest bank statement and send that in or you can download a PDF from your internet banking. Independent Reserve should verify you within a few hours. Now — I should say something. I know this whole set up process can be dragging and a lot of people just turn off here and forget about the idea of investing altogether.

Obviously I kick myself all the time for doing. It will literally take you about fifteen minutes to set your account up. You can do this in the accounts section. There you will get given a screen with all the details. Unfortunately this is just the way it is for us Kiwis, our options are limited.

If we want nice things we have to pay for them! You can get your first transfer free using this link. Not a surprise — a lot of banks worldwide, not just NZ have been stonewalling people from purchasing cryptocurrency.

My advice is simple: Change banks. In five years I have no doubt buying Ethereum will be as easy as clicking one or two buttons but for now, early adopters will just need to jump through the hoops. Click on Buy Limit. Enter how much Bitcoin you would like. Your order should look like this:.

If the market hits that price, your order will execute. I recently tested it to purchase a small amount of Bitcoin and was impressed by how easy it. While the prices are slightly higher than on Independent Reserve, the process is much easier for New Zealanders. They also offer many other cryptocurrencies over 50which saves you having to sign up on various international exchanges and so on when you want to branch out into other coins. For someone just getting started out in cryptocurrency and Bitcoin, EasyCrypto would be my recommendation.

You can sign up for your free EasyCrypto account. Of course there are other options to buy Bitcoin in NZ. Like I said, these are the two that I like the. That means you are responsible for keeping your Bitcoin secure. Luckily, that is not difficult and can be done with a few easy measures. What this means is, whenever you log into your accounts you will need to enter two passwords. To activate 2FA, you will need to download the Google Authenticator app on your phone.

Then scroll all the way down to the bottom of the page. Just open the Google Authenticator app on your phone, scan the code and follow the instructions. You should also set up the Primary and Secondary telephone numbers.

The Primary number can just be your personal cellphone. The Secondary can be the number of a parent or friend or anyone else you trust. The answer is yes. Also, remember that some people have literally hundreds of thousands, if not millions of dollars in Bitcoin stored in various wallet and exchanges. Keep in mind that Bitcoin is a very new technology, similar to the internet inor banking in However, there are risks to.

What happens if your exchange suddenly disappears the next day?

Some things to consider with using EasyCrypto:

Fees are about 0. Cryptex24 is one such platform. Buying bitcoins via an nfw meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country. How do i buy bitcoin in new zealand Falk. Web wallets, such as Blockchain Wallet and GreenAddressoffer convenient online access to zealamd Bitcoin. Check the terms and conditions of your broker or crypto exchange for details of bitconi processing times, and remember that the amount of activity on the Bitcoin network can also have an effect. Buy Bitcoin Worldwide does not offer legal advice. Now, before you just straight away choose a random seller it is important to consider a few factors: Each seller has 2 numbers next to his username. On the page, you can also choose which bitcoin site is best for your needs. Hi Sinethemba, Thanks for your inquiry. When you link your bank account doo your Coinbase account, it will usually take a few days until it gets verified and linked up to your Coinbase account correctly. All these things are required to be handed it, and once they are verified, you can continue to the next step. Ease of Use.