Is GST Tax going to catch up with Crypto in New Zealand? Since cryptocurrencies began to gain popularity around the world, different entities and regulators...
Regulation
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Cryptocurrency Regulation Around the World The cryptocurrency market is still growing vastly, with investors and companies both being attracted to it. As a result, governments...
Regulation: Good or Bad for the Crypto Industry The cryptocurrency industry regulation debate has been the elephant in the room in the recent past. While...
How Are Regulators Fighting the use of Cryptocurrencies in Money Laundering at Casinos? Online gambling is fast becoming one of the significant online activities in...
Inland Revenue Lays Out Ruling on How to Pay Staff in Cryptocurrency Originally aired on TVNZ's 1 News, Saturday 17th August 2019. For the...
US Senate Set to Discuss Blockchain and Cryptocurrency Regulatory Frameworks The United States senate banking committee is about to hold another debate on blockchain and...
Cryptocurrency Tax Update March 2019 Overview Cryptocurrency tax is currently being reviewed by IRD and different tax interpretations, such as financial arrangements are being applied...
Tax Effect of Stolen Crypto: Cryptopia’s recent hack Last updated: 25/01/2019 Unfortunately, many people held crypto on the Cryptopia exchange while it was hacked. This...
The Current State of Cryptocurrency Banking in New Zealand Victoria and I recently attended the Blockworks event in Auckland, which featured numerous, international cryptocurrency and...
Tax Differences: Trading vs Holding Cryptocurrency Are Cryptocurrency Profits Taxable? What's the Deal with Cryptocurrency and Taxes in New Zealand? BitPrime is often asked about...
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Storing your coins with Wallets
A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.
For information please read our beginners guide to cryptocurrency wallets.
Pay with POLI. Its fast!
POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.
About Bitcoin
Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.
A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.
Buy Bitcoin
Due to the price of sending and sourcing BTC the minimum order is $500.00.
Trading Hours: 9am – midnight, 7 days.