How to Cash Out Bitcoin? New Zealand’s BTC Guide
Cashing out your Bitcoins (BTC) to New Zealand Dollars (NZD) is a quick and easy process with Easy Crypto.
Bitcoin has proven itself as one of the highest-performing digital assets in the past decade. With Bitcoin gradually gaining more and more institutional support, it draws more New Zealanders to add Bitcoin to their investment portfolio.
Check the latest rates: View the latest rates for Bitcoin (BTC) to NZD.
How to sell and cash out Bitcoin easily in NZ
With Easy Crypto, selling your Bitcoin (BTC) in New Zealand is as simple as creating a sell order through our platform. The same process applies to purchasing bitcoins, where all you need to do is create a buy order through our homepage.
How to sell your Bitcoins (BTC) in New Zealand:
- Navigate to Easy Crypto NZ homepage.
First, navigate to Easy Crypto New Zealand homepage.
- Login to your account and select Buy & Sell from the menu.
Log in to your Easy Crypto account with the correct credentials.
If you don’t have an account yet, go ahead and sign-up! It’s quick and easy! Then, proceed to select the Buy & Sell button on the top menu.
- Create a Sell Order with the amount of Bitcoins you want to sell.
Proceed to create a sell order, and enter the amount of Bitcoins you want to sell. We’ll give you a deposit address during the order process.
- Deposit funds to the address we sent you.
Send the funds from your wallet to the deposit address we sent you in step #3.
- Receive the NZD to your bank account.
We’ll process your sell order and have the funds sent to your bank account in no time.
And that’s it! Takes only a few minutes and you’ll have your Bitcoins converted into NZD in no time.
Check out the video below for a detailed how-to guide on how to sell your Bitcoins in New Zealand!
If you bought your Bitcoin through us originally, kei te pai! Nothing further is required. You’ll be able to sell the same amount back to us, no matter what the value has changed to.
For example, if you had bought 3 BTC from us and 100 XRP you can sell back 3 BTC and 100 XRP regardless of how high they moon.
If you bought your cryptocurrency somewhere else, you’ll need to provide us with evidence to show where this has come from before you can sell more than $30,000 back to us.
With Easy Crypto, your Bitcoin sell order will be confirmed and processed on the same day in New Zealand. We are proud to offer 24/7 BTC to NZD withdrawals, whether your cash out $100 or $500,000 NZD, we’ll have your funds deposited to your bank account as soon as we confirm and verify your sell order.
Keep in mind that we process payments in batches periodically throughout the day. You would generally receive the payment the same business day.
Just be aware that if you placed an order on a Friday afternoon, over the weekend, on a public holiday, or the crypto hits us late in the day, you probably won’t see the funds until the next business day as while crypto is 24/7, banks aren’t.
Easy Crypto strives to provide industry-leading customer service and innovative features for our users. To do so, we charge a fee of 0.9% on cash-out requests for exchanging BTC to NZD.
Also, just in case you’re wondering or curious about how banks in New Zealand are responding to cryptocurrencies, we have an article that includes statements from Westpac, Kiwibank, Bank of New Zealand, ASB, and ANZ.
Selling Bitcoin in NZ
Any Bitcoin investor will want to make a profit at some point. In most cases, BTC investors and holders cash out their Bitcoins when their profits have surpassed their initial capital, or a specified profit margin has been reached.
The key to making this profit work is to execute the exchange at the right timing. Unfortunately, it is not always possible to cash out Bitcoin in a timely manner on international exchanges.
- Coinbase for example is known to restrict the amount of Bitcoin investors can sell during peak trading periods.
- Almost every international BTC exchange is known to limit how much Bitcoin can be exchanged for fiat cash in a single transaction.
- It is common for exchanges like Bitfinex to limit cash withdrawals, due to having limited liquidity.
Thankfully, Easy Crypto is not like international exchanges like Coinbase or Bitfinex. Easy Crypto is also in the fortunate position of being able to draw on cash liquidity from several leading over-the-counter (OTC) Bitcoin brokers.
What this means for you is simple.
- With Easy Crypto, it is possible to sell Bitcoin in NZ, whenever you want to.
- It is possible to cash out an unlimited amount of crypto in a single OTC order.
- Our access to OTC market liquidity means we never limit sell orders, even during peak trading periods.
Things to consider before withdrawing your cryptocurrencies
As with any investment endeavors, patience and timing are important elements to make the most out of your investments.
There are no definitive guides as to when you should cash out your bitcoins. It’s always best to do your research and stick to your investment goals and targets.
Whether you want to take profit at a certain margin, or hold your bitcoins indefinitely is completely up to you.
Fear of missing out (FOMO) trading is the easiest way to make losses when buying and selling cryptocurrency.
When initially buying Bitcoin it is, therefore, advisable to decide how long you wish to stay invested for, as well as plan an exit strategy; not cash out at the first sign of BTC price corrections.
Another approach you may want to consider is investing with the dollar-cost averaging (DCA) principle. The DCA is a relatively simple, and proven method to mitigate risk by investing in consistent intervals over a period or length of time.
Learn more: Read our simple guide on dollar-cost averaging (DCA).
For those interested in the latest updates and insights on cryptocurrency, make sure to subscribe to our newsletters and explore more topics on the Easy Crypto learning Hub.
Also, don’t forget to subscribe to our monthly newsletter to have the latest crypto insights, news, and updates delivered to our inbox.
Disclaimer: Information is current as at the date of publication. 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 August 24, 2022