How to Buy Ethereum in New Zealand

Bitcoin and Ethereum are currently the largest cryptocurrencies in the market—based on their market cap and exchange volume. But with the recent swift growth of Ethereum, analysts are confident that it will soon outstrip Bitcoin to become the world’s leading cryptocurrency. This much-anticipated turn of events has created more attention, and many New Zealanders are now investing in Ethereum. 

Recommended way to buy Ethereum in NZ is – Swyftx

While the cryptocurrency concept continues to gain popularity, it’s faced with tons of challenges, such as security issues, market risks, complex bureaucratic systems and what have you. That said, we’ll help you cut through the complex and challenging world of crypto-currencies—by explaining the safest, simplest and most affordable ways of buying Ethereum today. 

Overview of Buying Ethereum 

Ethereum currency, just like other financial assets, can be acquired in various ways—through over-the-counter brokers, in private trades, or from exchanges. However, if you decide to acquire it through a broker or an exchange, they should accept debit/credit card payment, bank transfer, or e-wallets such as PayPal and POLI. After completing the purchase, they’ll deliver the Ethereum coins to an ETH wallet which either they provide or you provide. 

Quick Pro Tips 

  • After purchasing Ethereum from an exchange, it’s wise to transfer your coins to a wallet you have control over
  • Exchanges are prone to hacking and attacks. For example, the ill-famed New Zealand exchange Cryptopia scandal in 2019 saw investors losing more than USD 17million in Bitcoins, Ethereum and cryptocurrencies to attackers
  • Regrettably, there are tons of such stories where investors constantly lose coins worth millions of money, making it essential for you, as an investor, to look for the best alternatives for protecting your digital assets.


The following are the primary features to consider in a platform before buying ETH:

1. Funding Methods

Different cryptocurrency platforms offer various payment methods. Some allow credit/debit cards, some accept e-wallet payments via PayPal, while others operate exclusively via cryptocurrencies. You must check if the company you’re about to trade with has a convenient payment method with which you’re conversant. 


Some companies face difficulties in opening bank accounts or partnering with licensed payment processing institutions. So, they start clutching on straws and may end up cooperating with institutions with a high-risk appetite. 

2. Fees

Are you super-conscious when it comes to chargeable fees on crypto platforms? A high fee takes away a considerable percentage of the deposit every time you trade.


In addition to charging for fiat deposits, some crypto platforms have imposed fees for withdrawing cryptocurrencies to an external wallet. The withdrawal fees differ regarding the type of cryptocurrency you’re trading in, and charges could be as high as NZ$40, equivalent to 0.005 BTC (as of May 2021). 


Brokers and exchanges make money from transaction fees when a trader sells or buys a cryptocurrency. Some platforms charge as low as 0.1% of your trading volume or even lower, but anything beyond 5% of your trading deposit is too much. Some exchanges have implemented the maker-taker fee approach—charging less when limit-order is used instead of market orders.

3. Reputation

When choosing a cryptocurrency platform, it’s critical to focus on a stable and high-level reputation. These reputable companies have more active users, which hints at high liquidity levels on the platforms. The greater the liquidity on a platform, the easier it is to buy or sell your Ethereum. So, do a thorough background check on platforms before trading on them. 

4. Compliance

The compliance aspect has been a matter of controversy in the crypto industry, with those championing decentralised finance systems perceiving it as unnecessary. Even so, a legitimate platform for buying Ethereum should verify users’ IDs before offering their services. 


Companies in cryptocurrency trading constantly face scrutiny from banks and other payment processing institutions on accounts of the anonymity involved and recognised risks of enabling terrorist financing and money laundering. Therefore, many of these companies have put in place sturdy AML and KYC protocols to curb such risks, and verification of users ID is the most important one. 

5. Liquidity

When it comes to liquidity, go for a  platform with many users; the higher the number of users in a forum, the higher the liquidity levels. A low liquidity level means the market is very volatile, causing spikes in crypto prices. Conversely, high liquidity means the market is more stable, and the crypto prices are more predictable. In addition to the liquidity factor, check how long you will settle your sale, how long it takes, and if you should expect any conversion or transfer fees. 

6. Product Ranges

Before settling for a specific exchange, you may want to know how many cryptocurrencies they deal with—besides the Ethereum currency. And with more than 1300 cryptocurrencies in the market, you’ll have to do thorough research before choosing one. Besides, you should determine if they offer other digital assets like shares, indices etc. 


Depending on your Ethereum investment strategy, the features of a platform’s software may come in handy. For example, software that is easy to use and doesn’t require learning the application processes will suit you if you want to make multiple purchases. However, if you’re planning to trade Ethereum and other cryptos specifically, a platform with sophisticated software would be more appealing. 

Where Can I Buy Ethereum in New Zealand?

1. Swyftx

Swyftx is among the leading cryptocurrency exchanges available in the New Zealand market. It’s reputable for its low trading fees and has over 260 listed crypto assets that you can trade and invest in—Bitcoins, Ethereum, ERP, Ripple, litecoins etc. 


To start trading with Swyftx is easy—you only need to follow the process below:


  • Create Account—fill out your credentials: your name, phone number, email, create a password and agree to the terms and conditions
  • Verify Identity—verifying your ID information is instant, and you don’t need to upload any document.  Be sure to verify your ID, Email address and phone number
  • Send Deposit—you can make your first deposit into your New Zealand crypto account via a bank transfer
  • Start Trading—after the deposit has been confirmed and cleared, you can buy crypto and start trading. This trading platform has over 280 digital assets that you can trade on. 


Using the Swyftx trading platform comes with tons of benefits. First, it has over 260 cryptocurrencies that you can trade in. Furthermore, it offers a bunch of other digital assets that you can trade in as well. 


Another benefit is its incredible low fees rates and spread, allowing you to maximise your profits when you buy, sell, and trade your Ethereum coins. Moreover, this platform incorporates automatic buy and sell orders, offer incomparable online support and integrated viewing chats. 


What’s more, they’ve demo accounts that allow you to mock trade on the platform—if you’re new in the world of cryptocurrency—this will help you hone your trading skills before starting to trade.

2. Easy Crypto

Easy Crypto is one of the most famous destinations to buy and sell Ethereum coins and other digital assets in New Zealand. This platform embraces the non-custody approach and lets you have a personal wallet to receive their settlement for purchase. By recommending the best hardware wallets and guiding you on each recommendation, the company strives to help you keep their cryptocurrencies safe. 


Some of the common Easy Crypto features include:


  • Payment methods: The platform allows POLI instant pay or through NZ bank transfer
  • Fees: The platform’s fees include the spread, making the bid and offer appear higher than other exchange platforms. The fee ranges from 0.7%-0.9%—quite affordable
  • The minimum order size is NZ$100
  • Settlement: Settlement is done on a private wallet
  • Variety of currencies available for trading—109, including Ethereum​

3. BitPrime

Bitprime is a New Zealand-based crypto platform. The company positions itself as a cryptocurrency retailer, thereby distancing itself from exchanges and brokers, and it doesn’t act as a wallet. After buying your Ethereum with BitPrime, you’ll choose the destination for your cryptocurrency. This approach relieves the company of any risks associated with being a custodian of clients’ possession. So, to use BitPrime, you’ll need your cryptocurrency wallet first. 


The following are some of the features of BitPrime: 


  • BitPrime platform accepts payment through bank transfers, POLI and debit or credit card via third-party provider Simplex
  • The order size and payment method determine the fee. The fee for card payment is 5%, with bank transfers not exceeding NZ$20,000 are 2%, and there are discount options for more significant transactions
  • The minimum order size is NZ$100
  • Settlements are made on personal wallets 
  • BitPrime hosts a variety of cryptocurrencies—89 coins, with Ethereum included

4. Binance

Binance is among the largest crypto exchange platforms globally—based on the average daily turnover. This company was launched in 2017 and quickly established itself in the league of the giant cryptocurrency companies. Moreover, there have been numerous rumours of its further expansions very soon. 


Binance provides many services such as crypto fixed income products, derivative products and margin trading. It also offers New Zealanders an excellent opportunity to buy and sell Ethereum locally. 


The following are some of the main characteristics of Binance: 


  • Binance accepts Debit/Credit cards via the third-party payment provider Simplex
  • This platform charges 3.5% on the card processing and takes a minimum of US$10. There is also a withdrawal fee. For example, when withdrawing your Ethereum to your private wallet, you’ll incur a fee of 0.0005BTC—about NZ$28
  • The minimum order size is US$30—equivalent to NZ$46
  • The settlements are made on an account
  • Binance hosts 18 different cryptocurrencies, with Ethereum included

How Do I Keep My Ethereum Safe? 

Typically, you would rely on a licenced and authorised broker when investing your money in financial markets. This is because they’ll issue the instruments and take custody of your assets and collateral. 


Brokers must meet the fitness and proprietary thresholds before being issued with the license to operate. Additionally, they’re required to submit their requisition to external auditors annually and satisfy the operation and fiduciary responsibilities. 


However, most of these checks and balances do not exist in the cryptocurrency world, leaving most companies to rely on their instincts. To compensate, investors apply different devices to protect their digital assets from accidents. 


Hardware wallets are among the most convenient and safest alternatives out there for storing your Ethereum. The wallet is a cryptocurrency wallet where you can keep your private keys in a secure physical device. 


In other words, it’s an essential security component of the blockchain ecosystem. Additionally, these hardware wallets do not rely on internet connection during Ethereum transactions, protecting your private key from hacking.

Wrapping it Up 

Ethereum’s native currency is Ether (ETH) and is currently the second-largest cryptocurrency in the market. Despite its popularity and wide applications, this crypto is still a very speculative investment. With the constant significant transformations that aim to fix the challenges in the cryptocurrency industry, Ethereum will continue to flourish. 


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