Summary: Kiwibank facilitates its customers' foray into Bitcoin and other digital currencies by allowing NZD transfers to certified exchanges regulated by the Financial Markets Authority in New Zealand. It's worth mentioning that Kiwibank doesn't provide a direct cryptocurrency trading feature in its online banking services.

After a comprehensive analysis of New Zealand's premier digital asset platforms, we have pinpointed SwyftX as the best option for Kiwibank customers. SwyftX presents an array of over 320 digital currencies suitable for both trading and staking. In compliance with local rules, the platform offers swift and fee-free NZD deposits via multiple methods, including bank transfers.

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Can I Buy Bitcoin with Kiwibank?

Yes, Kiwibank enables customers to send New Zealand Dollars to recognized cryptocurrency exchanges in New Zealand and internationally. Once the transfer is successfully executed, you have the option to purchase or trade Bitcoin along with other digital currencies. It's important to note that Kiwibank doesn't offer a built-in option for directly acquiring cryptocurrencies. For a reliable and secure transaction, opting for exchanges regulated by credible organisations like the Financial Markets Authority in New Zealand is highly recommended.

How to Buy Crypto with Kiwibank 

Buying digital currencies through your Kiwibank account is both secure and convenient. For this journey, we highly recommend SwyftX, a platform known not only for its quick New Zealand Dollar deposits but also for its strong crypto-staking functionalities. With SwyftX, you can trade and hold an extensive range of more than 320 cryptocurrencies, all while enjoying low trading fees that start at just 0.1%.

Here's a simple, step-by-step guide to assist you:

  1. Registration: Create an account on SwyftX and go through the identity verification process. 
  2. Link Account: Navigate to your SwyftX dashboard and choose New Zealand Dollars as your preferred fiat currency for transferring funds from your Kiwibank account. 
  3. Fund Your Account: Select the 'link bank' option, connect your Kiwibank account, and adhere to the on-screen instructions to deposit funds. 
  4. Acquire Cryptocurrency: After your funds are successfully deposited, look for the cryptocurrency you wish to buy and finalize your purchase. 

By adhering to these uncomplicated steps, you can securely and effectively buy digital assets using your Kiwibank account.

Buy Crypto with Kiwibank
Buy Crypto with Kiwibank via NZD deposit.

Kiwibank Cryptocurrency Policy 

Kiwibank takes a measured approach towards cryptocurrency, allowing its account holders to interact with digital assets via certified cryptocurrency exchanges. These platforms are regulated by reputable organizations in New Zealand, like the Financial Markets Authority, ensuring a secure trading environment. This policy not only assists Kiwibank customers in mitigating the risks associated with traditional investments but also offers them the chance to diversify their portfolio by including various digital assets.

Digital Asset Investing Fees

If you're venturing into digital assets like Bitcoin, knowing the fee landscape is vital. For Kiwibank users, we recommend SwyftX for its transparent fees. Here are key fees to be aware of:

  • Spot Trading Fees: SwyftX's initial trading fee is 0.6%, but can drop to 0.1% based on your 30-day trading volume. 
  • Fiat Deposit and Withdrawal: Depositing and withdrawing in NZD on SwyftX is free, with a daily limit up to 100,000 NZD. 
  • Crypto Deposit and Withdrawal: SwyftX charges no extra fees for crypto transactions, although network fees apply. 

SwyftX's fee structure is competitive and gets better with increased trading activity, making it a solid choice for both new and seasoned traders.

About Kiwibank

Kiwibank is a New Zealand-based financial institution that provides a broad array of banking services, including personal and business accounts, loans, insurance, and investment options. Founded in 2001 as a subsidiary of New Zealand Post, the bank aims to offer a local alternative to traditional international banks. While Kiwibank does not directly facilitate cryptocurrency trading, it does enable NZD transfers to certified digital asset exchanges. This allows customers to engage in cryptocurrency transactions within a framework regulated by New Zealand's Financial Markets Authority.


Final Thoughts

In summary, Kiwibank offers a practical gateway for its customers into the world of cryptocurrencies by facilitating NZD transfers to certified exchanges. For a seamless and financially sound experience, we recommend SwyftX as the go-to platform for Kiwibank users. It stands out for its quick NZD deposits, low trading fees, and extensive range of cryptocurrencies. As with any financial venture, it's crucial to work with platforms that are regulated by credible entities like New Zealand's Financial Markets Authority to ensure a secure and compliant trading environment.