Bitcoin NZ | What You Need to Know About BTC Before Getting Involved

The Definitive Bitcoin NZ Guide in Brief

There is a high chance that you have searched ‘Bitcoin NZ’ on Google and found yourself on this article for one of three reasons:

  • You want to understand what all the Bitcoin hype is about.
  • You want to see if there is an active Bitcoin NZ community or If Bitcoin is legal in NZ.
  • You want to find a safe and easy place to learn and buy Bitcoin in NZ.

Well, if you are wanting to know about the basics of Bitcoin NZ, you have come to the right place. 😁

Stack of gold bitcoins in front of the New Zealand flag NZ

What is with all the hype around Bitcoin?

Launched in 2008 as the worlds first cryptocurrency, Bitcoin as a currency and store of value has seen a rapid rise in value over its short 11-year lifespan so far. Acting as a store of value that is independent of any other government, organisation or asset, investors and technology enthusiasts have magnetised towards Bitcoin due to its highly unique properties and track record of multiplying investors money in extremely short periods of time.

Bitcoin’s famous price increase is the result of its truly scarce supply (unlike most other assets and currencies), but Bitcoin should not be seen as just an easy way to get rich fast.

Bitcoins price is known to decrease and increase in price upwards of 20% in a single day, and investors and adopters alike believe that as more people start using Bitcoin as a store of value and currency, the price will continue to rise. The short video above will detail how Bitcoin works. 😎

If you are completely new to the world of cryptocurrency, you have likely heard rumours that Bitcoin is illegal. You might even believe that all coins sharing the Bitcoin namesake are of equal value. In reality, though, nothing could be further from the truth.

Queenstown new zealand at night time

Bitcoin NZ – Is Bitcoin Legal in New Zealand?

Contrary to what you might have heard, Bitcoin is legal in New Zealand. More importantly, Bitcoin is legal in every financial jurisdiction of importance in 2019.

Recently, regulators in the United States made it clear that even if they thought it might be a good idea to ban Bitcoin, doing so would be counterproductive.

  • Bitcoin is legal because it is taxable.
  • It is a myth that Bitcoin is predominantly used for illegal purchases on the Dark Web.
  • Bitcoin is increasingly favoured as a top digital asset to invest in among mainstream institutional financial investors.

When buying Bitcoin in New Zealand, it is also important to note that local exchanges like Easy Crypto, are regulated by the same financial watchdogs who oversee major banks like Westpac and TSB Bank.

New Zealand with 2 Kiwis and ferns and three Bitcoin coins

How to Buy Bitcoins in NZ?

If you are looking to buy Bitcoin in New Zealand, the easiest way to do so is at Easy Crypto NZ. After creating a new exchange account, users can verify their identity in under 2-minutes. It is also possible to pay instantly using POLi Pay or Account2Account pay, meaning that you can buy Bitcoin and have it delivered to your Bitcoin wallet in under 3 minutes.

Trust Pilot Easy Crypto NZ New Zealands best way to buy and sell Bitcoin screenshot

Easy Crypto is your best way to buy and sell Bitcoin in NZ for three key reasons:

  • Easy Crypto typically has the best Bitcoin prices in NZ
  • We are the only cryptocurrency broker in NZ to have a 100% funds safety guarantee across all orders
  • You can sign up with us and have Bitcoin sent to your Bitcoin wallet within 3 minutes.

To get started with Buying Bitcoin in NZ, sign up for an account with us today. 😎

Bitcoin lying flat on a gold bar

Is there an Active Bitcoin Community in NZ?

New Zealand is indeed home to a highly active eco-system of Bitcoin investors, Bitcoin project developers and Bitcoin enthusiasts. NZ also boasts multiple exchanges, cryptocurrency services, and a plethora of vendors that accept Bitcoin as payment.

Prominent communities in the Bitcoin NZ scene include:

New Zealand cryptocurrency group screenshot Bitcoin NZ

Is Bitcoin Comparable in Value to Other Cryptocurrencies Using the Bitcoin Namesake?

At present, there are three major coins currently on the cryptocurrency market which all share the Bitcoin namesake. However, when people refer to Bitcoin, they refer to the original Bitcoin, which is represented by the exchange price ticker BTC.

When Bitcoin came to market in 2008, its pseudonym creator Satoshi Nakamoto, made the code which Bitcoin uses to operate opensource. This means that anyone can clone and copy Bitcoin as many times as they like.

Bitcoin blockchain forking history including Bitcoin cash and Bitcoin SV

Bitcoin Cash and Bitcoin SV Explained

In recent years, two private companies have attempted to create their own version of Bitcoin. These clones are known today as Bitcoin Cash and Bitcoin SV. Both projects do have some merit due to slight technological improvements.

Sadly, some people buy Bitcoin Cash and Bitcoin SV, in the belief that coins are of equal value to Bitcoin. They are not. Neither do Bitcoin clones like Bitcoin Cash, benefit from the same 10-year history of total security as Bitcoin.

There is an argument to be made that Bitcoin Cash and Bitcoin SV may one day usurp the dominance of Bitcoin. However, most cryptocurrency market watchers believe this is unlikely. This being the case, if looking to buy Bitcoin to invest, always buy coins with the price ticker BTC.