Summary: The best way to buy Bitcoin and Cryptocurrencies in New Zealand is through a NZ Department of Internal Affairs regulated trading platform. With this method, investors can deposit NZD via bank transfer, debit card, credit card and other methods to safely invest in digital assets.
For users looking to get started quickly, we recommend the SwyftX NZ platform. They are licensed and regulated in New Zealand and offer over 300 cryptocurrencies to buy and sell with NZD. Their platform is feature-rich and allows users to also stake to earn interest on over 30 different assets.
- Fast and Cheap NZD deposits via Bank Transfer.
- Over 300 cryptocurrencies to trade for 0.6% fees.
- Crypto Staking, Crypto Bundles and other digital asset features.
Is it Legal to buy Crypto in New Zealand?
Yes, it is legal to buy cryptocurrencies in New Zealand. The Financial Markets Authority (FMA) and the Reserve Bank of New Zealand (RBNZ) have issued guidelines for the buying and selling of cryptocurrencies, which outline the legal framework for the use of cryptocurrencies in the country.
According to the FMA and RBNZ, cryptocurrencies are not considered to be legal tender in New Zealand and are not regulated as financial products under the Financial Markets Conduct Act 2013. However, the FMA has stated that some activities involving cryptocurrencies may be subject to regulation, such as when they are used as a means of payment or when they are used in connection with a business activity.
Best Crypto Trading Platforms in New Zealand 2023
The three best exchanges to buy Bitcoin in New Zealand are SwyftX, Independent Reserve and Binance. This is based on the fact they all provide the best New Zealand Dollar (NZD) deposits from local banks with the lowest fees. All three exchanges are also secure, trusted and regulated by The Financial Markets Authority (FMA) in NZ.
The table below provides a high-level summary and comparison of each platform.
How to buy Crypto or Bitcoin in NZ
The best way to buy Bitcoin and cryptocurrencies in New Zealand is with the SwyftX NZ trading platform. They are a registered Financial Services Provider in NZ that offers over 300 cryptocurrencies to buy, sell and trade with NZD from your bank account. Their platform also lets you stake cryptos to earn up to 20% annual interest on your assets.
You can follow these 3 simple steps to get started:
- Sign up to SwyftX NZ and verify your account.
- Select 'Deposit Funds' and select the NZD deposit option out of Bank Transfer, Credit Card/Debit Card or POLi.
- Once your account is funded, find the cryptocurrency you want to buy and input the NZD amount. Double check the amount and execute your trade.
Once you complete your trade, the cryptocurrency will be stored on your SwyftX NZ managed digital asset wallet. You can choose to keep it in secure storage with the exchange, or move it to a cold wallet like a Ledger or Trezor.
Can I buy Crypto on Sharesies or ASB?
No, traditional stock trading applications in New Zealand like Sharesies and ASB Share Investing do not offer cryptocurrency trading features. It is generally safest to buy Bitcoin from a specialist crypto exchange because they have experience in managing blockchain assets.
How to buy Bitcoin OTC in New Zealand
If you are a high-net individual, broker or family office looking to purchase large quantities of Bitcoin over $100,000 NZD, Buy Bitcoin Bank recommends that you check out a Bitcoin OTC desk in New Zealand.
Bitcoin OTC desks in New Zealand offer secure and personalised services that let you securely buy over $100,000 NZD worth of Bitcoin or crypto without having to worry about scaring the order book or falling victim to slippage.
Buy Bitcoin Bank recommends that high-net worth institutional investors use Independent Reserve as the premier OTC Desk in NZ.
Cryptocurrency trading has become increasingly popular in New Zealand in recent years. With the rise of cryptocurrency, more and more exchanges are emerging to meet the increased demand for digital assets.
The three best exchanges to buy Bitcoin in New Zealand are SwyftX, Independent Reserve and Binance. These platforms offer a secure and trusted platform to buy Bitcoin and other cryptocurrencies with low fees, as well as the ability to deposit funds from your bank account.
If you are looking for a more secure and personalised service, Buy Bitcoin Bank recommends that high-net worth institutional investors use Independent Reserve’s OTC Desk in New Zealand. With this service, you can securely purchase over $100,000 NZD worth of Bitcoin or crypto without having to worry about scaring the order book or falling victim to slippage.