Bitcoin Wallets in New Zealand – The Easy Crypto Guide

What is a Bitcoin Wallet?

A Bitcoin wallet is a place that you store your Bitcoin. They come in all shapes and sizes, but their primary objective is to keep your cryptocurrency safe. Bitcoin wallets are free, easy to set up and you can have as many Bitcoin wallets as you like. ğŸ˜Ž

Storing your Bitcoin safely is in your utmost interest, but how can you easily get a Bitcoin wallet in New Zealand?

This article will detail your various options for Bitcoin wallets in NZ, and every link you click will lead to a dedicated Easy Crypto walkthrough on setting up that type of wallet.

If you are brand new to cryptocurrency, you will want to read our overview on what a Bitcoin wallet is before you dive in with setting one up.

Bitcoin next to Bitcoin wallet with case inside it

Best Bitcoin Wallets in NZ

You have multiple options for Bitcoin wallets in NZ, with different levels of safety and ease of use:

  • Mobile wallets – 2/5 for safety ; 5/5 for ease of use
  • Desktop wallets – 3/5 for safety ; 5/5 for ease of use
  • Cold wallets – 5/5 for safety ; 1/5 for ease of use
  • Hardware wallets – 4.5/5 for safety ; 3/5 for ease of use

Choosing what Bitcoin wallet is best suited to you is important, but one important factor that may affect your choice of wallet is the worth of your assets. The choice is completely up to you, but here’s a suggested guide for what wallets you could use for different amounts.

Holding $100 or less? : Mobile wallet

Holding $100 – $2000? Desktop wallet

Holding over $2000? Cold wallet or hardware wallet

You can of course store $100 in a hardware wallet or your entire $50k Bitcoin stash in your mobile wallet. It’s important to thoroughly back up your wallet whether or not you have deep pockets. At the end of the day, we recommend safely securing your assets as much as possible regardless of the value you are holding.

Exodus Mobile Bitcoin wallet homepage screenshot

Best Choices for Mobile Bitcoin Wallets in NZ

A mobile Bitcoin wallet is as what the names suggest, a Bitcoin wallet that goes on your phone. You can download them from the app store, and they typically hold multiple currencies in one application. Mobile wallets are easy to use but generally less safe. having crypto in your mobile wallet should be seen like having cash in your pocket – you should never carry around too much at once.

You have several easy options for mobile Bitcoin wallets in NZ, however, some are better than others.

It is essential that you do your own research on the security of these wallets, but having tried all of these myself, I prefer Exodus wallet due to its nice interface and ease of use.

You can find Exodus here on IOS and here for Android.

See a full rundown on your options for Mobile Bitcoin wallets in NZ here.

Exodus Wallet Portfolio screenshot Bitcoin wallet nz

Best Desktop Bitcoin wallets in New Zealand

Now things are getting a little bit more serious and you’re looking to store your Bitcoin on your computer in a desktop wallet. A desktop wallet was where I stored my Bitcoin for the first two years of holding, and I think it’s a great place to learn the ropes of crypto as well as have it stored somewhere relatively safe.

You have multiple decent options for desktop wallets.

My favourite desktop wallet is Exodus, simply because of how simple and sleek it is to use. It’s also free, and it holds the majority of the top 10 cryptocurrencies including Bitcoin, Ethereum and XRP. Exodus can also be securely backed up, however, you can still not compare the safety of desktop Bitcoin wallets the next type of wallet below.

See our full review on Exodus here, and our guide to setting up an Exodus wallet here.

Bitcoin wallet NZ private and puclic key
The two strings of numbers and letters (keys) that make up a cold Bitcoin wallet

Setting up a Cold Bitcoin Wallet in NZ

Every Bitcoin wallet (and most other cryptocurrencies) boils down to two things – a public address and a private key. A Public address is an address that people can send you Bitcoin to, and the Private key is the digital signature that you can use to authenticate and execute transactions from your wallet to other peoples.

You can think of the public address like a PO Box address, and the private key as the key you use to open that PO Box. Anyone can send you a letter at any time, but only the person with the key can open the box and take the letters out.

A cryptocurrency wallet works the same way. Anyone can send you crypto to your public address, but only the person with the private key can take money back out of that address.

If you take a record of your private key and store it somewhere safe, this is called a “cold” wallet.

A cold wallet has no send or receive functionality – it is simply a record of your private key(s). This is the absolute safest way to store your cryptocurrencies … as long as you keep that key secure.

Remember: if someone has access to your private key, they have full access to all your funds.

There are many ways you can store your keys, a safe option is to put them in a password manager like KeePass. Once they are in KeePass, you can backup your password file in DropBox or other online cloud software, ensuring that you have a single portal to your crypto stash, floating on the web at all times in a highly encrypted password protected password manager.

(that’s what we do here with our personal wallets at Easy Crypto anyway 🙂 )

See a full yet simplified guide on how to secure a cold wallet with KeePass here.

EC logo on trezor Bitcoin wallet NZ

Best Hardware Bitcoin Wallet in New Zealand

If you want to be able to easily send from your crypto wallet while also staying as safe as possible, the best choice is a Hardware Wallet.

This is a device that protects you from remote attackers, by requiring a physical action on the device before a transaction can be authorised.

It is important to note that these devices will not necessarily protect you if your device is stolen unless you also use a passphrase with them.

The two best-known devices on the market are the Trezor and the Nano Ledger.

The combination that we personally use at Easy Crypto is Exodus, plus the Trezor Model T, plus a passphrase. The passphrase is securely stored in KeePass, and the Trezor is securely stored with us. We believe this to be a sufficient level of security while also remaining very easy to use.

If you have any other questions about wallets, don’t be shy to contact us here. Otherwise, if you are looking to jump straight into setting up a wallet, follow our free guide on your fastest and easiest option.