So, you want to know how to buy Ethereum in New Zealand? Want to jump straight to the answer and learn how to buy and use Ethereum as New Zealanders (Kiwis) residents?
You can Buy Ethereum in New Zealand in 5 easy steps:
In the following sections, we will explain the process to buy Ethereum in New Zealand in greater detail.
Please note that Cryptocurrency investments are high-risk investments. Any investment decision is under the responsibility of the individual. We are not financial experts, and the resource links below are provided for information purposes only. They are based on our own research and experience with Ethereum (ETH) in New Zealand. They are not intended to be legal and/or financial advice.
|Price Today||3,856.91 New Zealand dollars|
|24 hour % change||9.29|
|7 days % change||18.93|
|30 days % change||19.11|
|60 days % change||1.46|
|90 days % change||-19.31|
Ethereum is the second most popular and valuable cryptocurrency, ranking just behind Bitcoin. Its creator is Vitalik Buterin, and Ethereum was first launched in 2015, to be much more than simply a digital currency.
The next step is to decide how and where you will buy Ethereum. For most first-timers, the easiest and most convenient option to buy Ethereum in New Zealand is to use a Ethereum broker.
There are several brokers offering Ethereum in New Zealand, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
The final step is to submit an order through your chosen platform. No matter which platform you choose, you’ll usually need to sign up for an account first. Depending on the platform you use and the regulatory requirements it is subject to, you may be able to sign up simply by providing your email address or you may need to provide your full name, contact information and proof of ID before being allowed to trade.
Once your account has been verified, you’ll need to enter the amount of ETH you want to buy, choose your payment method, review the fees and the total cost of the transaction and then finalise your purchase.
The exact steps you’ll need to follow vary depending on the payment method and type of platform you choose, so keep reading for more details on the different ways you can buy Ethereum (ETH) in New Zealand.
With hundreds of platforms to choose from, finding the best Ethereum exchange for your needs is a challenging task. Consider these key factors when comparing exchanges:
While the regulatory environment surrounding New Zealand digital currency exchanges is becoming clearer all the time, the same can’t be said for some overseas-based exchanges. Do some research to find out where an exchange is based, the regulatory requirements that apply in that country, and whether the exchange complies with those requirements.
There are many different ways you can purchase Ethereum, each of which has its own pros and cons.
The biggest advantage of buying Ethereum with PayPal is that it’s quick and easy to do as you’ll no doubt be aware if you’ve ever used PayPal to purchase anything else online.
You may need to hunt around for the right platform, and if the platform you choose doesn’t accept NZD, then you’ll need to be fully aware of the fees that apply.
Another way to buy Ethereum with New Zealand dollars is to choose a platform that accepts bank transfer deposits. Choose a platform that accepts POLi Payments. Transfers using this system are typically processed more or less instantly, but they may attract higher fees
Many Ethereum brokers and exchanges allow you to buy Ethereum using your credit card in New Zealand. These include platforms like eToro and Coinmama, and using your credit card allows you to make quick and convenient purchases.
Whichever payment method you select, make sure you consider the following:
Regardless of whether you choose a New Zealand or overseas-based crypto exchange, make sure you compare a range of options before deciding which platform to use.
Our research highlighted several NZD platforms, but few are based in New Zealand and offer transparency. For this reason, we suggest considering the following locally-owned (and trusted) platforms. Though the crypto market is global and decentralized and a vast number of providers compete to attract crypto enthusiasts, it is only natural for someone interested in trying out their hand in crypto trading for the first time, be it Ethereum or any other cryptocurrency, to feel more comfortable doing so on local platforms. New Zealanders are no exception to these, though admittedly there are not a very great number of local crypto service providers. This being said and irrespective of big, offshore based cryptoexchanges being able to cater to the Ethereum and generally the crypto needs of New Zealand residents, choosing a locally based platform means they can easily resort to locally-based customer service agents and use their local bank accounts and bank cards to fund their trading accounts. Moreover, locally based platforms tend to be more recognizable, transparent and reliable and users can exchange views and experiences with other locally based users. For New Zealanders wishing to make their first Ethereum purchase and begin their ETH investing journey, we would recommended Easy Crypto and BitPrime, both of which are reputable and already popular with New Zealand users. These platforms can cater to the crypto buying and trading needs of retail customers and come with added advantage of requiring users to already have independent, privately owned wallets to store their funds, thus making the process more confidential and safer overall.
This is is another example of a popular destination to buy and sell Ethereum and a series of other digital assets in New Zealand. Easy Crypto has also adopted the non-custodial route and requires users who buy cryptocurrencies from them to have a private wallet to receive the settlement of their purchase.
This is a popular New Zealand based platform, registered as an NZ financial services provider, to buy or sell various cryptocurrencies, including Ethereum.
These platforms are popular with our users, have esteemed reputations and are trusted by tens of thousands of people living in New Zealand. Both options are free to join, funded from any New Zealand bank account/card, and have a local support team.
Remember to also enable 2-factor authentication on your account for extra security.
From your Easy Crypto account dashboard, select the currency you want to buy – in this case, Ethereum (ETH).
Specify how much money in New Zealand dollars you want to spend, up to an order limit of NZ$10,000.
Click “Buy Now”. Pay through the Easy Crypto website via POLi Payments or deposit the required funds via bank transfer. Once Easy Crypto has received your payment, your order will be automatically processed and will typically arrive in your inbox within a few minutes.
Remember to take a moment to review the full details of the transaction before you finalise your transaction.
The ETH to NZD pair is the exchange between the Ethereum cryptocurrency and the New Zealand national currency and it is a popular trading pair, especially among New Zealand based traders, who have a better and clearer picture about the value and prospects of their home currency.
Outward looking and export driven, the New Zealand economy may not be in the largest economies of the world, but the NZD is an important and highly traded currency, ranking in the top 10 of currencies worldwide.
To be able to benefit from price swings in the ETH/NZD pair investors should be on the lookout for factors affecting the value of these two assets so that they can effectively anticipate the changes to occur. As far as the value of the NZD is concerned this is greatly impacted by international trade growth as well as developments not only in the local economy, but the economies of New Zealand’s main trading partners such as Australia, the European Union, China, the US, and Japan. Ethereum’s value on the other hand, is chiefly affected by how widely adopted its blockchain technology is, as ETH is the token used for all transactions on the Ethereum network.
As the network becomes more widely used and acceptance, so is the demand for ETH, resulting in an increase in its price. Thus, taking long or short positions on the ETH/NZD pair by using CFDs, holds considerable earning potential, while the current, post-COVID devaluation of the NZD may also signify profits for those able to take a long position on the ETH/NZD pair.
The Ethereum to New Zealand dollars pair features ETH as the base along with NZD, the official currency of New Zealand, as the counter currency. The value of the pair can be interpreted as how many New Zealand dollars can be purchased with one ETH or how many New Zealand dollars it takes to purchase one ETH.
ETH to NZD is a very popular crypto-to-fiat pair. The pair’s counter currency – New Zealand dollars – is the official national currency of New Zealand. The crypto market, including Ethereum, is extremely volatile, which provides huge potential for speculation. Observing the popularity of ETH to NZD exchange transactions, there are immense opportunities for traders to profit from the pair’s trade.
Second only to Bitcoin, Ethereum has a market capitalization of $77.5 billion and a high market share. In terms of its historical performance it gave a hefty return of 17,000% when its price rose from $9 in January 2017 to $1389 in January 2018, however its price crashed soon after. More recently, and following a steady downwards streak, it has once again started to rise as of the early days of 2021.
Ethereum is a hugely popular, rapidly rising cryptocurrency, second only to Bitcoin, and Ethereum related activities and transactions are governed by the overall crypto landscape in each jurisdiction. In New Zealand, as well as in most other countries across the globe, the relevant legal framework is not as developed and mature yet and though this does mean that investing in cryptocurrency, including Ethereum, is legal in New Zealand, locals who decide to go down this route must be aware that the sparse regulation that is in place leaves them vulnerable in case something goes wrong and they might not be able to seek proper legal remedy. Moreover, the companies offering crypto services to New Zealand based customers are subjects to existing New Zealand legislation and under the scrutiny of the local watchdog.
In the absence of a comprehensive legal framework, the New Zealand Financial Markets Authority (FMA) is instead fervently warning New Zealanders interested in investing in cryptocurrencies of the high risk and volatility involved, as well as of the fact that such transactions are not regulated nationally. Another danger the FMA is quick to point out is that crypto exchanges as well as crypto users and holders are very often prime targets of online fraudsters and scammers, as well as hackers and that thus their funds are under threat constantly.
Though tax authorities had long not targeted cryptoassets, this has rapidly changed in the recent years and the New Zealand Inland Revenue officials are stepping up their game and seek information on the crypto related activities and transactions of New Zealand tax residents. If you are a New Zealand tax resident you can expect to be taxed on your worldwide income, including your cryproasset income from home or overseas. Moreover, subject to certain tax rules, the buying or selling of cryptoassets may also be taxable. We must pay tax if you dispose of a cryptoasset, irrespective if you convert it into fiat currency or exchange one crypto for another, e.g. if you buy Ethereum using Bitcoin.
If you own cryptoassets in New Zealand and this creates taxable income for you, then you tax return must include details of your crypto transactions such as calculating their NZD value and working out your crypto related income and expenses. The IR will expect you to hold records for seven years, detailing the type of cryptoassets you hold or held, the dates of your crypto-transactions, as well as the relevant bank statements and exchange records.
Although New Zealand currently does not have specific legislation related to cryptocurrencies, any form of regulation is enforced by the Financial Markets Authority New Zealand | FMA. Cryptocurrency is treated as property for purposes of income tax legislation.
You can check this New Zealand cryptocurrency guide for more information.