Bitcoin NZ – The Ultimate New Zealand Bitcoin Overview

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Gold BTC banner with Bitcoin on smart phone NZ NZD

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 NZ hype is about.
  • You want to see if there is an active Bitcoin NZ community or if it is legal to own and buy Bitcoin in NZ.
  • You want to find a safe and easy place to learn and 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.

New Zealand flag with Bitcoin BTC physical coin in front of it NZD

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.

Bitcoin price NZD from 2013 to 2020 buy Bitcoin NZ

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 rumours 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.

Queenstown New Zealand at night NZ HD

Bitcoin NZ – 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.

Is bitcoin cryptocurrency BTC legal in NZ New Zealand map
https://coin.dance/poli/legality

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.

When buying Bitcoin NZ, it is also important to note that local exchanges like Easy Crypto NZ are regulated by the same financial watchdogs who oversee major banks like Westpac and TSB Bank.

BTC Bitcoin New Zealand logo in front of green ferns

How to Buy Bitcoin in NZ?

If you are looking to buy Bitcoin NZ, 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 NZ Trust Pilot reviews

Easy Crypto is your best way to buy and sell Bitcoin in NZ for three key reasons:

To get started with Buying Bitcoin in NZ, sign up for an account with us today.

BTC Bitcoin lying flat on gold bars valued in New Zealand Dollars

Is There an Active Bitcoin NZ Community?

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.

Bitcoin NZ New Zealand Reddit Community Screenshot

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 group screenshot Bitcoin NZ 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.

Cryptocurrency News New Zealand Facebook page screenshot NZ

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.

Cryptocurrency adoption Statistics New Zealand NZ Chart graph

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.

Buy Bitcoin New Zealand through NZ Bitcoin Exchange Easy Crypto NZ BTC Shire image hobbit hole

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.

Bitcoin Cryptocurrency Basics New Zealand Easy Crypto NZ

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.

BTC forking infographic showcasing how Bitcoin SV and ABC were created

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 Easy Crypto Australia for more information.

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