Bitcoin NZ | The Ultimate guide to Bitcoin for New Zealanders

 Banner with golden BTC coins and phone screen with Bitcoin NZ on it

The Definitive Bitcoin NZ Guide in Brief

There is a good chance you have searched ‘Bitcoin NZ‘ on Google and found yourself reading 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 about Bitcoin New Zealand, you have come to the right place. 😎

Stack of gold bitcoin coins 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, payment network and store of value has seen a rapid rise in value over its short 11-year lifespan. 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 within 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.

Watch the 2-minute video below to learn why Bitcoin is growing in popularity and why it is seeing an uptake in NZ.

 

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.

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 2020.

Is Bitcoin Legal in NZ full map of where Bitcoin is legal and illegal
To see the full interactive map of where Bitcoin is legal, click here: https://coin.dance/poli/legality

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 NZ, 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 Bitcoin 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. From there, it is 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.

Easy Crypto NZ Trust Pilot reviews December 2019

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

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:

Bitcoin NZ New Zealand Reddit Community Screenshot

New Zealand cryptocurrency group screenshot Bitcoin NZ

Cryptocurrency New Zealand Bitcoin News Facebook page screenshot

Where to Start with Bitcoin in New Zealand?

The whole idea of Bitcoin and decentralised digital currency can sound quite alien and intimidating, but it is actually incredibly easy to get started in the world of Bitcoin – even in NZ. In fact, New Zealand is one of the most Bitcoin-friendly countries in the world.

Before starting with Bitcoin, you are going to want to do some research and learn about the basics, and understand why it is going to change the world for the better. Most people start off with Bitcoin wanting to make or multiply their money, but often the revolutionary qualities end up pulling savvy investors right into a place that they did not know existed.

Bitcoin is not just a currency and payment network, but also, more importantly, a philosophical movement (and to many, a revolution). Bitcoin represents the future of money and wealth, independent from the government and banks and in a peer2peer fashion.

To learn more about Bitcoin, why its price has exploded over the years, why it has been the leading global asset in 2019, and why its future looks so bright – I would recommend checking out the Easy Crypto basics directory herehttps://learn.easycrypto.nz/cryptocurrency-basics-directory/

Easy Crypto Cryptocurrency Basics Directory Thumbnail

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.

 

Last updated 16th January 2020