Bitcoin NZ – The Ultimate New Zealand Bitcoin Overview
There’s a good chance you have searched ‘Bitcoin NZ’ on Google and found yourself reading this article for one of three reasons: You want to.
There’s 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 community or if it is legal to own and buy Bitcoin in NZ.
- You want to find a safe and easy place to 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.
What is with all the hype around Bitcoin in NZ?
Launched in 2008 as the world’s first cryptocurrency, Bitcoin as a currency, payment network and store of value has seen a rapid rise in value and adoption over its short 11-year lifespan.
Acting as the first successful cryptocurrency that is independent to any government, organisation or asset – investors and technology enthusiasts alike have magnetised towards Bitcoin due to its highly unique attributes – attributes that many Bitcoin fanatics would call revolutionary.
For a start – There can and will only ever be 21 million Bitcoin in existence. This is thanks to the Bitcoin network being backed by mathematics and code, rather than a central authority like a government or corporation.
The number of Bitcoin in circulation is also 100% transparent, so at all times anyone on earth can easily view how much Bitcoin is in circulation. Due to this transparency, it is easy for us to accurately value digital assets like BTC, unlike other traditional assets:
- Commodities like gold and silver could have an unlimited supply if mined from asteroids in space, and we only have rough estimations on how much gold and silver exist on Earth.
- Government-backed fiat currencies like the USD and NZD are having their supplies constantly increased (which causes inflation).
- Governments print trillions of dollars each year, debasing the value of the fiat currency already in existence.
- Bitcoin is backed by mathematics and code, and the maximum amount of Bitcoin that will ever exist is 21 million.
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 30% in a single day, and Bitcoin users believe that as more people start using Bitcoin as a store of value and currency, BTC’s price will continue to rise.
If you are completely new to the world of cryptocurrency and Bitcoin, you may have heard rumors that Bitcoin is illegal in NZ. 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.
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.
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, and it is even legal to get paid in Bitcoin in New Zealand.
- New Zealand is one of the most friendly Bitcoin countries in the world.
- It is a myth that Bitcoin is predominantly used for illegal purchases on the Dark Web – reports show that less than 1% of Bitcoin transactions are related to illegal activity.
- Bitcoin is increasingly favoured as a top digital asset to invest in among mainstream institutional financial investors.
- Bitcoin was the best performing asset in the world from 2010 – 2020.
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, you can verify your identity automatically in under 2-minutes. From there, it is possible to pay instantly using POLi Pay or Account2Account pay, meaning that you can buy Bitcoin NZ and have it delivered to your Bitcoin wallet in under 3 minutes.
Easy Crypto is your best way to buy and sell Bitcoin in NZ for three key reasons:
- Easy Crypto typically has the best broker Bitcoin prices in NZ.
- We are the only Bitcoin exchange and 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 private Bitcoin wallet within 3 minutes.
To get started with Buying Bitcoin in NZ, sign up for an account with us today.
Is There an Active Bitcoin NZ Community?
In addition to local crypto services and an increasing population of Bitcoin users, New Zealand is also home to a collection of cryptocurrency meetups – organized and run by the fellas over at Cryptocurrency.org.nz.
You can attend monthly crypto meetups in Auckland, Christchurch, Wellington, Tauranga, and Hamilton, with sporadic meetups happening across New Zealand’s smaller towns.
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 growing range of businesses that accept Bitcoin as payment.
The r/NZBitcoin Reddit community
New Zealand’s largest Reddit Bitcoin community. Boasting 2,600 members, r/NZBitcoin is a great place to communicate with experienced Bitcoin users.
The New Zealand Crypto Community Group on Facebook
With over 2,000 members, Crypto New Zealand Community Group is an excellent place to discuss ideas as well as ask others for help. CNZCG is run by parent page Crypto New Zealand, who posts up to date market news and relevant Bitcoin discussion points.
The New Zealand Crypto Community Facebook group is the most active cryptocurrency community in New Zealand.
New Zealand Cryptocurrency News
NZ Crypto News is a fantastic source for honest and informative New Zealand and Global Cryptocurrency News. Acting as New Zealand’s largest Bitcoin and cryptocurrency page with over 5,000 followers, NZ Crypto news aims to encourage Bitcoin NZ discussion, discourse and education.
How many people in New Zealand Own Bitcoin?
The latest global statistics on cryptocurrency and Bitcoin ownership from the Digital 2019 Global Digital Yearbook show New Zealand, in January 2019, had 4.1% of its citizens owning cryptocurrencies like Bitcoin.
South Africa came out on top as the leading country in crypto ownership, with a reported 10.7% of South Africans owning crypto.
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 getting started with Bitcoin, you are going to want to do some research and learn about the basics, and understand why BTC is changing the world for the better. Most people start off with Bitcoin wanting to make or multiply their money, but often Bitcoin’s revolutionary qualities end up pulling savvy investors into a place that they never knew existed.
Bitcoin is not just a currency and payment network, but also, more importantly, a financial empowerment movement (and to many, a revolution). Bitcoin represents the future of money and wealth, independent from government and banks, and rather in a peer-to-peer fashion.
To learn more about Bitcoin, why its price has exploded over the years, why it was the best performing asset of the 2010s, and why its future looks so bright – I would recommend checking out the Easy Crypto Bitcoin Overview here.
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 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.
If you’re from across the ditch and would like to learn more about Bitcoin and cryptocurrency, check out our learn page for more information.
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Disclaimer: This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated December 29, 2021