Buy Bitcoin in New Zealand (BTC)

You can purchase Bitcoin right here on Independent Reserve.

Sign up today and deposit New Zealand dollars into your trading account to start buying Bitcoin. We offer low fees and have a range of features for you to use to improve your trading experience.

We believe in Bitcoin. In fact, we built our whole business around it. Independent Reserve was established in 2013, only four years after Bitcoin. Over the past decade, we have earned a stellar reputation for being one of the safest and easiest places to buy Bitcoin and crypto in New Zealand.

Bitcoin was created under the pseudonym, Satoshi Nakamoto.

The identity of Bitcoin’s original creator remains a great mystery. An anonymous author, Satoshi Nakamoto, first introduced Bitcoin in an online post. The whitepaper: “Bitcoin: A Peer-to-Peer Electronic Cash System” was published on 31 October 2008.

Bitcoin’s first Genesis Block was mined on the 3rd of January 2009. It contained a message from the cover of The Times: "Chancellor on brink of second bailout for banks”; which hinted at the motive for creating the world’s first, fully secure and decentralised digital currency. Its true appeal, however, goes far beyond the scope of money. Its cult-like status comes from the values it represents; transparency, integrity, and trust.

Mining is how Bitcoin transactions are validated, and confirmed blocks are added to the blockchain. It is also how new coins are minted.

Bitcoin uses a consensus mechanism called proof-of-work (PoW) that allows computers, called miners, to reach agreement over a decentralised peer-to-peer (P2P) network. Through PoW, miners can trust which transactions are valid so that accurate records of the blockchain are kept up to date.

Miners validate and confirm transactions. They compete against each other to solve a hash puzzle using an algorithm called SHA-256. The first miner to find the correct number to match the hash wins and gets to add their block to the blockchain. Miners are paid the Bitcoin minted in the process and collect all the transaction fees contained within the new block.

PoW is vital to the operation of Bitcoin. It gives miners a financial incentive to maintain the security of the blockchain and ensure that everyone adheres to the rules of the network. PoW was the first consensus algorithm to be used and other cryptocurrencies have also adopted its open-source code. PoW is the most secure system a blockchain can use. Bitcoin has never been hacked and it is economically unfeasible to even try.

Read more about how Bitcoin mining works here. For an even deeper understanding of the ideas behind Bitcoin, download The People’s Money, written by Adam Tepper, co-founder of Independent Reserve.

No. Bitcoin is mostly powered by renewable energy and sustainable sources.

Bitcoin is helping drive the adoption of renewable energy at a faster rate. There is a lot of confusion about Bitcoin’s impact on the environment. The “Bitcoin is bad” angle has been debunked if you dig a little deeper. According to the Bitcoin Mining Council, Bitcoin is an industry leader, with a 58% sustainable energy mix and is becoming more energy efficient every year.

It is crucial to note that most of Bitcoin’s power comes from renewable and sustainable energy sources. Bitcoin can also run on stranded energy, or “wasted energy”, by capturing methane gas and converting it into usable C02. By doing this, Bitcoin dramatically reduces carbon emissions, as methane is 80x more harmful to warming the planet.

While it's true that mining Bitcoin does use an enormous amount of energy, its energy consumption is less than 0.01% of the world’s total usage. Headlines like “Bitcoin uses more energy than entire countries” is highly misleading. To put things into context: Xmas lights in the US also use more energy than entire countries. Bitcoin is helping steer us towards greener energy sources while also providing an important service that has changed the world.

Like gold, Bitcoin is a valuable asset as it is scarce and hard to mine.

Bitcoin is often compared to gold because it is difficult to mine and takes a lot of time and resources to produce. Also, it is rare because it has a finite supply.

Gold is stored in vaults to keep it safe. Bitcoin is also stored safely but on the blockchain. After the last of Bitcoin’s 21 million total supply has been mined, it is impossible to create more. Because Bitcoin never leaves the blockchain, after the last Bitcoin has been mined its inflation rate will be zero.

Bitcoin has all the key features of a commodity.

As a commodity money, Bitcoin ticks all the boxes. It is easily transportable, divisible, recognisable, is a store of value and importantly, impossible to counterfeit. These characteristics make Bitcoin a superior form of money compared to any other medium of exchange. There has never been a currency like it.

Tax will apply to any realised gains if you decide to sell your Bitcoin.

In general, you will have to pay tax on any profits made. There are some exceptions, however, so if you need help it is best to consult a financial advisor if you are unsure about your specific tax situation.

Yes, we will provide a secure personal wallet for you on Independent Reserve.

Bitcoin wallets store the private keys to access your funds on the blockchain. When you buy Bitcoin safely on Independent Reserve, it will automatically appear in your account, so you don’t need to set up a digital wallet. See how you can find your Bitcoin wallet address on Independent Reserve.

If you prefer complete control over your own Bitcoin, you can transfer it easily from our exchange to a secure crypto wallet, to be stored with your other digital assets. However, if you move your Bitcoin off our exchange, you must know how to back up your private keys safely and restore your wallet. For more, read about how Bitcoin is lost.