A look at top 5 cryptocurrencies in New Zealand

3 min read | June 30, 2021 05:04 PM AEST | By Jasmine Anand

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A look at top 5 cryptocurrencies in New Zealand — Image source: Wit Olszewski, Shutterstock.com

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Summary

Investing in cryptocurrency is enticing investors all over the world.

New Zealand is bowled over by the thrill of investing in digital currencies.

Kiwis can invest in several cryptocurrencies in various crypto exchanges operating in the country.

As the global economy is moving towards digitalisation, investing in cryptocurrencies is rapidly becoming popular. With instant settlement and equipped with the potential of high returns, the flutter around cryptocurrencies will never fade. As per reports, the global crypto market capitalisation is estimated to be over $1.4 trillion.

Read: What’s brewing in the cryptocurrency world? Here are some of the hottest developments

New Zealanders too are allured into investing in the digital currency market. Some of the top cryptocurrencies operating in the Kiwiland are mentioned below.

Bitcoin (BTS)

Created by an anonymous individual or a bunch of people who went by the name Satoshi Nakamoto, Bitcoin is the most popular and well-known cryptocurrency in New Zealand.

At the time of writing, on 30 June 2021, BTC/NZD was trading at $49,702.27, up by 0.82%.

With more user-friendly platforms, trading in Bitcoin is quite simple. One needs to register with a crypto exchange and get a Bitcoin wallet, which acts as a bank account for the cryptocurrency. Then one can place orders on the exchange.

Must Read: Is Bitcoin legal in New Zealand?

Ethereum (ETH)

Another most popular cryptocurrency in New Zealand is Ethereum. Created by Vitalik Buterin, Ethereum has its own programming language known as Solidity. Its own associated cryptocurrency is known as Ether or ETH.

At the time of writing, on 30 June 2021, ETH/NZD was trading at NZ$3,030.71.

Don’t Miss: Looking for cryptocurrencies in 2021, here are top 10 other than Bitcoin

Ripple (XRP)

Released in 2012, Ripple is very popular among those who are looking for an affordable cryptocurrency as it is low priced. It uses XRP as its cryptocurrency token. Further, it uses 'Gateway' as a medium, which acts as a link between two crypto traders wanting to make a transaction.

At the time of writing, on 30 June 2021, XRP/NZD was at NZ$0.966011.

Also Read: Bitcoin, Ethereum, Dogecoin & Ripple: How Are Cryptocurrencies Faring?

Bitcoin Cash (BCH)

Next in the list is Bitcoin Cash, which was launched in 2017. Though many of its characteristics are like that of a Bitcoin, it comprises many improved features that set it apart from the former. It is pointed out that as per the written protocol for Bitcoin Cash, its net supply will never be above 21 million coins.

At the time of writing, on 30 June 2021, BCH/USD was trading at NZ$737.44.

Dash

Lastly, we will be looking at Dash, which was earlier known as Xcoin. It is rapidly working to become a medium for daily transactions, wherein digital currency can be used as a credit card or through PayPal.

At the time of writing, on 30 June 2021, DASH/NZD was at NZ$195.82.

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