Cryptocurrency is changing the way we transact on a daily basis, and it has given a direct impact on people, businesses, and countries all over the world. There's a lot of talk online about its great potential to replace traditional and new payment methods in the long run, mainly with its decentralized system. For those new to the world of Bitcoin and other cryptocurrencies and would want to start investing, here's your starter guide.
What is Cryptocurrency?
A cryptocurrency is a digital asset that can be used to buy goods and services or even trade them for profit; it uses an online ledger with strong cryptography to secure online transactions. Unlike fiat currencies, it is decentralized, meaning it's not backed by a "central government".
It may have been more than a decade since the most popular form of cryptocurrency worldwide was created, but Bitcoin is still gaining millions of investors and continues to make headlines. Investing and trading your Bitcoin and other currencies can seem complicated, but not with the help of exchanges and wallets!
Where can I trade my Bitcoin, etc. in New Zealand?
Ensure a secured transaction with the most popular Bitcoin exchange in the world! Coinbase stores the majority of its crypto assets in secure offline storage and gives its customers a wide range of options to buy, sell, and trade their cryptocurrencies such as bank transfer and credit/debit card. It offers a secure wallet where you can store newly purchased cryptocurrencies and keep track of them all in one place.
Need more convincing? Coinbase has no reported hacks or compromises of the security systems and wallets resulting in any loss of funds due to criminal activity.
Import: Coinbase only allows crypto-to-crypto conversions for New Zealand residents
If you’re new to cryptocurrency, eToro’s user-friendly and straightforward interface makes it a good option. It offers 15 different digital coins and has one of the lowest fees when it comes to crypto exchange. You can invest in Bitcoin using your credit card or through PayPal, get the latest updates with its real-time crypto market research and news, use its advanced trading features and risk management tools, and more. You can even practice crypto trading using a virtual portfolio!
NOTE: eToro is limited to cryptocurrency trading in New Zealand as a result of the country’s regulations
If you have more digital assets aside from Bitcoin, consider trading using Binance. It’s the largest and the most popular trading platform when it comes to cryptocurrency exchange in the world and only works with verified and trusted partners to give you a secure crypto-buying experience. Most importantly, it supports New Zealand customers to trade and sell Bitcoin and other cryptocurrencies easily using New Zealand Dollars.
4. Independent Reserve
Independent Reserve is a popular exchange among cryptocurrency traders worldwide and a well-trusted cryptocurrency in New Zealand. It supports traditional fiat currencies, including the New Zealand Dollar (NZD). You also have the option to buy and sell 24 of the major cryptocurrencies and popular DeFi tokens using SWIFT.
5. Easy Crypto
Convert NZD to Bitcoin easily. Easy Crypto is a New Zealand owned crypto retailer where you can buy and sell your cryptocurrencies instantly! It's the fastest and easiest way to withdraw and deliver to any wallet address. It also has a 100% Funds Safety Guarantee so you can trade securely.
Swyftx is a well-known Australian crypto exchange that targets New Zealand users and helps make crypto buying and selling simple, especially for beginners. The site and app offers a user-friendly interface with guides and chat support to make sure all your questions are answered.
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