So, you want to know how to buy Ethereum in New Zealand? Well, BitPrime is New Zealand's premier cryptocurrency retailer and we can supply you with Ethereum (ETH), as well as over 60 other cryptocurrencies. Our focus is on providing FREE advice and support to help everyone from beginners to those more familiar with crypto.
How to Buy Ethereum in New Zealand
Ethereum (ETH) is a platform used to build decentralised applications (dApps) using blockchain technology. At the time of writing, Ethereum is the second largest cryptocurrency by market cap and sixth largest by activity.
There's plenty of information on our FAQ page and blog pages if you're still trying to figure Ethereum and blockchain out. But, assuming that you’re ready to buy ETH, here is a simple "how to" guide written for the New Zealand market.
1. Verify Your ID
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 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 and legitimacy.
Furthermore, we are a registered financial service provider in New Zealand. We also need to prove that everyone ordering through us is paying from a bank account in their name and that the funds aren't coming from an illegal source, or from a third-party.
2. Setup Your Wallet
The next thing for you to organise is a wallet to store your Ethereum. The best wallet for your needs will depend on which currencies you want to use, what device you want to use, and if you're prepared to pay for a wallet or would rather use a free one.
If you want a free software wallet for Ethereum, we recommend using a multicurrency wallet like Exodus or Jaxx. For more advice on choosing the right wallet for your needs, contact us with any questions.
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. Ledger Nano S and Trezor support a wide range of cryptocurrencies, eliminating the need for multiple wallets and keys.
Remember: You'll need to wait until you've been notified that you are verified before you can place an order.
3. Buy Ethereum in New Zealand
- To buy Ethereum, log into the site and navigate to the Ethereum product page. You can enter the amount you wish to purchase in either New Zealand Dollars (NZD) or Ethereum (ETH).
- You will need to include your wallet address in the “Wallet Address – Required” field. This is the address of your wallet, similar to how your bank account number works and is what you use to receive ETH and custom Ethereum tokens. The address is 42 characters long, begins with 0x, and will look like this: 0x769aad65ffd6d327d8ce9c50b1af3afb731410fc. It is important that you 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, we have no way of retrieving those funds.
- Finally, click the "Order" button and follow the instructions provided on the next screen.
- After submitting your order, you can pay immediately via POLi. 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 press the button confirming you have paid your order.
Payment by POLi is the fastest option as we receive instant confirmation of funds. Usually, we process POLi orders within the hour. With a bank deposit, we need to wait for the bank processing times (currently the next business day with our bank).
- Once we have confirmed receipt of your money in our account, your coins will be sent to your wallet!
- Done! You are now the proud hodler of ETH.
Don't be a Stranger!
We're here to help in any way that we can. If you can't find the answer to your question in our FAQ page and blog page, then please, do get in touch. We provide email and live chat support to all of our current and potential customers FREE of charge. Plus, we're based here in Christchurch, New Zealand, and we know how to look after our customers. We're open from 9am-10pm, seven days, so it's easy to get hold of one of our knowledgeable team members.