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How to Buy Ethereum in New Zealand: a Step by Step Guide

Estimated reading: 5 mins

So, you want to know how to buy Ethereum in New Zealand? Well, BitPrime is New Zealand's premier cryptocurrency trading retailer. We can supply you with Ethereum (ETH), as well as over 100 other cryptocurrencies in exchange for NZD. Our company's focus is on providing FREE advice and support to help everyone from pure beginners to those more familiar with crypto, from your everyday mum and dad investor to professional investors.

 

How to Buy Ethereum in New Zealand

Ethereum (ETH) is the leading platform used to build decentralised applications (dApps) and deploy a smart contract using blockchain technology. At the time of writing this article, Ethereum is the second-largest cryptocurrency by market cap and in the top ten largest by activity.

There's plenty of information to be found in our other blog pages if you're still trying to figure crypto and blockchain technology out, or want to learn more about mining or how the Ethereum network itself works. But, assuming that you're on this page because you are ready to buy ETH, here is a simple "how-to" guide written specifically for the New Zealand market.

Note: we use the terms crypto, coin, token, and digital currency or asset interchangeably throughout our articles as all are used worldwide to describe the same idea.

 

1. Verify Your ID With BitPrime

The first step for buying Ethereum in New Zealand is to apply to verify your ID with us. We aim to process verification requests within 24 hours, so the sooner you send it, the sooner you can start buying!

The reason we verify everyone we transact with is to meet our obligations under the Anti Money Laundering and Countering Financing of Terrorism Act (AML/CFT) 2009. We take this very seriously. In fact, it is part of our company's core mission statement!

BitPrime aims to educate, support and encourage blockchain-based adoption in New Zealand with an emphasis on security, legitimacy and ease of use.

Furthermore, we are a registered financial service provider in New Zealand. We need to prove that everyone ordering through us are paying from a bank account in their name and that the funds aren't coming from an illegal source, or a third-party.

When it comes to data security, all ID documents provided are stored in an encrypted database. These topics are covered in more detail in our  Terms of Use, AML/CFT Policy, and Privacy Policy.

 

VERIFY NOW!

 

2. Setup Your Ethereum Wallet

The next thing for you to organise is a wallet to store your Ethereum. We are often asked which wallets can you use to hold ether? The best Ethereum wallet for your needs will depend on which other cryptocurrencies you may want to buy and use, what device you wish to use (e.g. mobile, PC or Mac), and if you're prepared to pay for a crypto wallet or would prefer to use a free one.

Software Wallets

If you want a free software wallet for Ethereum, we recommend using a multicurrency wallet like Exodus. Both of these double as a bitcoin wallet, as well as store many other digital currency options. We also have a very detailed guide for beginners which provides advice on choosing the right crypto wallet for your needs. Additionally, if you want some step-by-step guides on how to set up your crypto wallet, check out our Knowledge Base. There are guides there for a range of different wallet options.

Hardware Wallets

Another option is to purchase a hardware wallet. A hardware wallet is typically a physical USB device which stores your private keys and authorises any transactions. It works in the same way as a software wallet but has an additional layer of security in that it is only connected to the internet when you plug it in. Ledger and Trezor both support a wide range of cryptocurrencies, eliminating the need for multiple wallets and keys.

These are the only hardware wallets we recommend, and we are affiliates of both. I strongly suggest that you purchase directly from the manufacturer themselves to ensure you are buying a genuine device. And don't risk buying a secondhand one either; you'd never know if the seller kept the recovery phrase or not.

 

3. Buy Ethereum in New Zealand

Remember: You'll need to wait until you've been notified that you have been granted a verified account before you can place an order with BitPrime.

The last step is to place your order for Ethereum. You can also buy LitecoinXRP, Bitcoin and many other coins from us - we have over 100 altcoins listed.

3.a

To buy Ethereum, log in to our site and navigate to the Ethereum product page or the All Coins page. From both, you can see the current Ethereum price for both buying and selling. You now enter the amount you wish to purchase in either a New Zealand Dollar (NZD) amount or an Ethereum (ETH) amount.

How to buy ethereum in nz
How to buy Ethereum in NZ from BitPrime's All Coins page.

How to buy ethereum in nz
How to buy Ethereum in NZ from BitPrime's Ethereum product page.

3.b

You then enter your wallet address in the "Wallet Address - Required" field. This is the receiving address of your wallet, similar to how your bank account number works and is what you use to receive ETH and other custom tokens on the Ethereum platform. The address is 42 characters long, begins with 0x (the number zero, NOT the letter o), and will look like this: 0x769aad65ffd6d327d8ce9c50b1af3afb731410fc.

It is crucial that you always copy & paste the address; never type it manually! Cryptocurrency transactions are irreversible, so it's essential to get the address right! If you provide the wrong address when you order, we have no way of retrieving those funds, nor do you.

3.c

Finally, click the "Order" button and follow the instructions provided on the next screen or popup window.

3.d

After submitting your order the price in NZD and the amount of ETH is locked in. You can choose to pay immediately via POLi pay.

Alternatively, our bank details and reference number for your order will be displayed on-screen for you to make a manual bank deposit. Please, make sure you read the instructions thoroughly and that you only use the reference details provided. With a bank transfer, please make sure you come back to our site and press the button confirming you have paid for your order to ensure prompt processing.

**Top tip**

Payment by POLi pay is the fastest option as we receive near-instant confirmation of the funds leaving your bank account. Usually, we process POLi orders well within the hour. The exception being for first time orders or orders of a significant size that require extra checks on our end.

With a manual bank deposit/transfer, we need to wait for the bank processing times. Under no circumstances do we send an order that hasn't been paid for.

3.e

Once we have confirmed receipt of your money into our bank account, we will send your coins to your wallet right away.

3.d

Done! You are now the proud hodler of ETH.

 

How to Buy Ethereum in NZ

 

Don't be a Stranger!

Now that we've answered the question "how do I buy Ethereum in NZ", what else would you like to know?

We're here to help in any way that we can. If you can't find the answer to your question on our FAQ page (best for new account info), in our Knowledge Base (brilliant for general crypto queries and technical support), or in an article in our blog (deep dives into many blockchain and crypto topics), then please, do get in touch.

We provide email support to all of our current and potential customers FREE of charge. Plus, we're based right here, in and around Christchurch, New Zealand, and we know how to look after our customers. Support-wise, we're open from 9 am - 10 pm, seven days, so it's easy to get hold of one of our knowledgeable team members.

 

VERIFY NOW!

 

 

 

Please note: we are Affiliates of Ledger and Trezor, the only two hardware wallet manufacturers we recommend.

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