New Zealand is one of the most crypto-friendly countries in the world. This means there are many secure cryptocurrency exchanges that let you buy Bitcoin with New Zealand Dollars.
This guide will outline the safest and easiest way to buy, sell, stake and trade cryptocurrencies in New Zealand with a licensed trading platform.
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Is it legal to buy Crypto or Bitcoin in NZ?
Buying Bitcoin or Crypto is legal in New Zealand, because the Inland Revenue Department (IRD) treats Bitcoin and cryptocurrencies as property for tax purposes. That means that the NZ Government and IRD treats buying Bitcoin and cryptocurrencies the same as buying a stock like Tesla or Facebook.
How to buy Bitcoin and Crypto 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 cryptocurrencies in New Zealand to earn up to 20% annual interest on your assets. You can follow this guide to get started:
Step 1: Sign up to SwyftX NZ and verify your account.
Step 2: Select 'Deposit Funds' and select the NZD deposit option out of Bank Transfer, Credit Card/Debit Card or POLi.
Step 3: 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.
Best exchanges to buy Crypto and Bitcoin in NZ
The three best exchanges to buy Bitcoin in New Zealand are SwyftX, Independent Reserve and Binance. The table below provides a high-level summary and comparison of each platform.
Buying 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.
Buy Bitcoin with PayPal in NZ
The only way to invest in Bitcoin with a PayPal account for New Zealand investors is through the eToro NZ platform. The one caveat is that you need to firstly deposit NZD from your bank account, before it lets you have the ability to deposit from PayPal.
This is one of their risk compliance measures to try to mitigate the amount of fraud that can be committed on their platform.