Summary: Kiwibank is a NZ-based bank that provides a wide range of financial services, including personal and business accounts, loans, and insurance. While Kiwibank currently does not offer investment opportunities in Cryptocurrencies, it recognises the potential of this innovative asset class, and allows its users to buy tokens through regulated and licensed digital asset exchanges.
The best and most secure Cryptocurrency trading platform for Kiwibank customers is OKX. On OKX, NZ investors and buy and sell over 300 tokens with multiple trading types including spot, margin, options and derivatives with up to 50x leverage.
OKX - Kiwibank
- Free and instant New Zealand Dollar (NZD) deposits from Kiwibank accounts and cards.
- Trade & Stake over 300 Cryptocurrencies with low fees and tight spreads.
- Feature-rich platform with Spot & Futures Trading, Staking, an NFT Marketplace & more.
Can I buy Bitcoin with Kiwibank?
As stated above, similar to most major New Zealand banks, Kiwibank does not currently support an option to buy Bitcoin and other cryptocurrencies directly on their platform. This is mainly due to the fact that selling or buying cryptocurrency requires different regulations and licensing, something that NZ banks are yet to acquire.
OKX is the best digital asset exchange for Kiwi investors and is widely regarded to be the most secure platform to buy and sell Crypto in NZ. It is the only exchange that offers complete transparency in its assets by providing proof of reserves that show they hold users funds 1:1. If you would like to learn more about this platform, visit our detailed OKX Review.
How to buy Crypto and Bitcoin with Kiwibank
The most secure and affordable way to invest in Bitcoin and other cryptocurrencies as a Kiwibank account holder is by going through the OKX exchange. Kiwibank users can deposit NZD to OKX via multiple payment methods including Bank Transfer, Credit/Debit Card, PayPal, Skrill and 10+ more. Follow the below steps to get started.
- Sign up to the OKX exchange and complete the KYC verification requirements.
- Click the 'Buy Crypto' tab and pick a method to deposit funds from Kiwibank.
- Select 'NZD' as your fiat currency and pick a Cryptocurrency you want to buy.
- Input the amount you want to invest in that token and execute your trade.
Buying Bitcoin and Crypto Fees
When investing in Bitcoin and other Cryptocurrencies it is important to consider the fees that are involved. The first fee you will encounter is your 'Deposit Fee' which is charged when you first deposit NZD onto a Crypto exchange. The second is the 'Trading Fee' which is charged when you trade your NZD for Bitcoin or other Cryptocurrencies.
The good news for OKX users is the exchange does not charge any fees to deposit NZD to their platform. The only cost is the trading fee, which is a competitively low 0.1% for spot markets.
What is Kiwibank
Kiwibank is a New Zealand federation bank, owned by the state-owned enterprise New Zealand Post. Kiwibank provides its customers with financial services such as credit cards, deposit accounts, loans, and insurance products. It is one of the largest banks in New Zealand and has over 1.2 million customers around the country.
The bank also offers a range of online banking services that allow customers to easily manage their accounts and was the first New Zealand bank to offer customers contactless cards and mobile payments. The bank has been providing world-class service since 2002 and is known for its customer focus and innovation.
Kiwibank is one of the most widely used banks in New Zealand and provides its customers with a variety of financial services but does not offer a Crypto-investing feature. The best way to buy Crypto is by utilising OKX – the trusted digital asset exchange that offers competitive fees, secure trading environment and multiple NZD payment methods.
Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.