How To Buy Bitcoin in New Zealand (2023) – Know Your Ways


Cryptocurrencies are on the rise in popularity in New Zealand and many buyers are looking to enter into the crypto market to buy Bitcoin in New Zealand for the first time, which is why we are putting this all in one, comprehensive guide to help you buy and sell Bitcoin safely and securely.

It is not a complex process if you are looking to buy and sell Bitcoin in New Zealand and the steps can be summarised to creating an account on a easy to use cryptocurrency exchange and then selecting the “Purchase Bitcoin” Option

The summarised steps for the way to buy Bitcoin are

Selecting a Bitcoin exchange – The easiest way to buy Bitcoin in New Zealand would be to buy it from either a cryptocurrency broker or exchange. Factors that you should look out for when selecting your cryptocurrency exchanges would be low fees, price of Bitcoin, easy to use interfaces and customer support.

Create an account – Once you have selected your cryptocurrency exchange, you should get started by creating an account which involves providing some information before you can buy and sell Bitcoin on the platform in New Zealand.

Make a deposit – After you are verified, you should make a deposit onto the exchange in order to exchange your fiat currency into Bitcoin, and then subsequently into goods and services if you wish.

The way to buy Bitcoin and make a deposit on the exchange would depend on the cryptocurrency exchange itself, and some of the methods used to buy Bitcoin in New Zealand would be through using a bank transfer out of your bank account, or credit card and debit card.

Withdrawing Bitcoin into your Bitcoin Wallet – After you have made your deposit through bank transfer, credit card or debit card, you should aim to withdraw and transfer your purchased Bitcoin into a storage device known as Bitcoin Wallets.

This is easy to do and you have the options to select whether you would like to transfer your digital currency into hardware wallets or software wallets.

Step-by-Step guide to buying Bitcoin

You can purchase Bitcoin in New Zealand in three main steps, Choosing a Bitcoin storage wallet, Choosing a Cryptocurrency exchange, and then purchasing Bitcoing.

Step 1 Choosing a Bitcoin Storage wallet

You will first have to set up a hardware wallet or software wallet in order to store your crypto iin New Zealand. These storages don’t actually hold any Bitcoin but instead hold your private key that is required to access your public Bitcoin address and sign transactions.

There are a couple types of options which include hardware wallets such as the Trezor and Ledger Nano S. A hardware wallet is more secure than a software wallet as they are blocked from the internet and provide offline storages for your private key.

Desktop wallets are downloaded to your computer and your private key is stored on your hard drive. Examples include Exodus and Electrum. Some of these software wallets also make it super easy to exchange your Bitcoin into other types of supported cryptocurrency in New Zealand.

Step 2 Selecting a cryptocurrency exchange

After that you have your wallet set up and selected, the next thing you would want to do is selecting the trading platform that you want to get your Bitcoin from in New Zealand. There are generally three types of exchanges

Bitcoin brokers

This is generally the fastest type of cryptocurrency platform where buyers and sellers are able to process their transactions through fiat currencies either through bank transfer through their bank account, credit card or debit card. These brokers offer user friendly platforms but the downsides is that their transaction fees are rather high compared to other options

Cryptocurrency trading platforms

There are many cryptocurrency trading platforms out there from which you can purchase Bitcoin from, and examples include e-Toro and Cex.IO which are highly secured and trusted cryptocurrency platforms.

These platforms allow you to purchase Bitcoins using other cryptocurrencies and offer a super easy way to get your crypto. They also offer a very competitive fee compared to brokers and allow you to access new and large amounts of cryptocurrency.

However, one downside is that you would only get cryptocurrency this way by trading it with another type of cryptocurrency so it would not be suitable for beginners.

P2P cryptocurrency exchanges remove the middle man when buying crypto and allows users to directly trade with each other. Its sellers are able to specify the price they get when selling their crypto and also request for ID verification if required.

One main advantage of P2P exchanges is the variety of payment methods you can choose from which include getting your Bitcoin through your bank account, all you need to do is to select a seller that is willing to sell Bitcoin through that certain payment method. Examples of P2P cryptocurrency exchange include and Paxful.

Step 3 – Pay for your Bitcoin

After you have set up your hardware wallet and ready to purchase your Bitcoin, you should decide on the ways that you want to pay for your Bitcoin. There are several ways you can purchase large amounts of Bitcoin from.

Buy crypto with cash

You can purchase your Bitcoin with cash by either finding a peer-to-peer exchange that accepts cash for Bitcoin. You could also find a Bitcoin ATM which you deposit cash in like a normal bank ATM and then can be converted into BTC for your private key.

Some exchanges also allow you to deposit cash into your account such as Western Union. However, you would need to take note that this option may incur high transaction fees.

Buy crypto with credit or debit card

Most brokers and crypto exchanges allow you to purchase Bitcoin using your cards such as eToro and is one of the most convenient ways to get your Bitcoin.

However, they also have high fees incurred on these transactions not to mention additional fees that your bank may charge you.

Buy crypto with Paypal

If you have a Paypal account which you want to use to get cryptocurrencies, good for you as you can definitely do this. However, not a lot of Bitcoin platforms actually accept Paypal as a method of buying cryptocurrencies.

Purchasing crypto with paypal is definitely quick and easy with a low security risk, but due top how uncommon it is for some to accept buying cryptocurrencies through Paypal, the best way would be to look for a seller on a Peer-to-Peer exchange that accepts Paypal as a method of payment.

How to select a cryptocurrencies platform to get coins

With so many types of Bitcoin exchanges to select from, you would want to make your choice depending on the factors below.

Security – This would be the main factor when you are selecting your cryptocurrencies platform to get your coins from. You should check out review forums and a quick google search would be able to tell you how secure the platform actually is. You should also check out if the platform actually provides and enforces security protocols such as two-factor authentication, PGP encrypted emails and SSL website encryptions to protect its users’ assets.

Fees – You should check out the website of the crypto exchange and determine if the fees are competitively suitable for you. Depending on how much you are looking to trade, different cryptocurrencies platforms would suit you better. This is because certain coins platforms actually have a fee structure that benefits investors who do a lot of trading, and other platforms are actually cheaper for those who have a way lower trading volume.

Supported currencies – It is important to know whether the crypto that you are looking for is actually available on the platform. This is because some exchanges focus on a handful of type of coins while others tend to offer a variety of options for their investors.

Transaction limits – Does the cryptocurrencies platform impose maximum or minimum number of coins you can purchase? Are there any restrictions placed on your account or wallet if you were to withdraw your assets from the platform? Are there any fees that you might incur if you are doing any of the aforementioned transactions?

Bonus tip – Buy your coins from New Zealand based exchanges

Although there are many international coins platforms that are secure and highly regulated, it would be better for you to focus on New Zealand based platform since there are a few benefits to it


Exchanges in New Zealand are actually regulated by the Financial Markets Authority of New Zealand and are bound by the “fair dealing’ requirements imposed by the Financial Markets Conduct Act of 2013.

You would not need to worry what fiat currency you get your coins in, as NZD would be accepted

A local platform would support local payment methods such as POLi payments


Since the local coin platform is highly regulated, you might need to provide private details for verification and you would lose anonymity if you are looking to trade on the exchange.

Due to the amount of verification required, the process might actually take some time compared to platforms which do not use much information for verification.

International platforms might make buying your coins easier as they might provide higher liquidity compared to a platform in New Zealand.

Things you should know before buying Coins such as BTC

Investing in BTC is similar to investing in shares, you would want to do some research in to the easy crypto you are investing

Investing in Bitcoin is volatile – A quick search of the historic value of Bitcoin would show you that its price is volatile,unstable and hinges entirely on the community’s sentiment towards its value. As such, not only is it an easy crypto to make a profit from in a short span of time, it also poses a risk of losing a large portion of investments if things do not actually go your way. This is because the value of Coins such as Bitcoin are highly unpredictable meaning there is a high risk associated with investing in Bitcoin

Security is important – The best feature that any platform you are looking to get your Bitcoin from would be the security protocols put in place due to how many exchanges have actually gotten hacked and their assets stolen in the past.

It is a common saying among the bitcoin community that if your private key is not owned by you, you do not actually own your coins. As such you should understand the difference between whether your private key is actually held by you, or held by the platform that you are using to get your coins.

A BTC transaction is non cancellable – There is no way you can cancel a BTC transaction once it is submitted to the blockchain so you should always double check your transactions before you send a Bitcoin payment.

Trading in Bitcoin is not anonymous – Although there is a certain degree of privacy involved when trading with cryptos such as Bitcoin, it is not entirely anonymous as your public address as well as details of the transaction are actually visible to anyone.

Tax implications when trading Bitcoin – There are tax obligations that you need to consider when you use Bitcoin as an investment, this is because you might be taxed on any capital gains you make when you sell it off for money.

Popular exchanges to purchase Bitcoin and crypto in New Zealand



  • Great customer support base with easily accessible chat and phone support
  • Offers over 230 different types of trading pairs
  • Offers multiple payment methods
  • Quick verification process
  • Supports automated purchasing pattern features


  • ID verification required if NZD is being deposited

Swyftx is a great exchange that focuses on users from NZ and aims to make coin buying a simple process. Swyftx is a great choice as their user interface is intuitive and features great guides and an app for every device



  • Offers a unique trade-copy feature
  • Highly reputable and trusted exchange among the crypto community
  • Clean and easy to use interface


  • Does not allow you to deposit cryptocurrency, only fiat currency

E-Toro is another great platform to use when you are trading cryptos and they support the main coins which include Bitcoin, Ethereum, Litecoin, and many other types of cryptos.

What makes E-Toro stand out is their trader-copy feature. How this works is that a user will be able to select a user on their platform that they wish to copy, and whenever that user makes a trade, you will instantly make the same trade thus copying their patterns. Users will be able to copy and trade other highly successful users on the platform.

Accepted payment methods include bank deposits, SEPA< NETELLER and also Paypal

Independent Reserve


  • Supports NZD
  • Wide range of payment options
  • Low fees starting at 0.5% but may reduce to up to 0.05% the higher the trading volume
  • Supports automated purchasing that is based on a set time interval
  • Option for premium account that places an insurance on crypto assets


Confusing user interface for beginners
Independent Reserve is another platform that caters to locals in NZ and opens its services to traders, financial institutions and retail users. Payment methods that are supported by Independent reserved include EFT, Osko/PayID, POLi and SWIFT.

Independent Reserve is also highly secure as they utilise encrypted data centers that are placed in different locations and also utilise underground secured vaults to protect your data and crypto assets that are stored with them.



  • Low fees starting at 0.25% for taker fees and may reduce to 0.1% with sufficient trader volume
  • Low fees for makers and potentially falling to 0% with sufficient trader volume
  • Highly secured


  • Trades anonymity for high security levels, so not as private

Kraken is another great exchange which boasts a history of never being hacked. It was founded in mid-2011 and is one of the largest crypto exchanges in the world alongside Coinmama and Coinbase based on average daily trading volume.

The upside to Kraken is that it is available in almost every country which includes NZ. Payment methods that are accepted include SEPA, Bank Wire and SWIFT.

Freuqently Asked Questions

Can I buy an amount less than 1 BTC?

Yes you are able to buy a small portion of a coin since each coin is divisible by 0.00000001 BTC

Can I store my Bitcoin on an exchange?

Although it is possible to store your BTC on a platform using their in-house wallet, it is highly inadvisable to do so as if the exchange falls victim to a hack, you could potentially lose control to the private keys in your wallet

What determines the price of BTC?

The main factor that determines the price of BTC is supply and demand since there is only a limited number of BTC that is in circulation among the market and new coins are generated at a predictable rate.

Theoretically speaking, it only takes as little as a few dollars to invest in the cryptocurrency market. Most cryptocurrency exchanges would impose a minimum trade that may be $5 to $10 while some other crypto trading platforms may have a minimum that’s slightly lower.

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