How New Zealanders Can Invest In Different Types Of Cryptocurrency

3 min read | February 24, 2021 03:31 PM AEDT | By Mark O'Donnell

How New Zealanders Can Invest In Different Types Of Cryptocurrency

Directly Buying Cryptocurrency

Purchasing from NZ-based dealerships is the easiest method for directly buying cryptocurrency. The dealerships will walk one through the entire process and send the currency directly to an individual’s digital wallet. The most trusted NZ-based dealers are BitPrime and Easy Crypto.

NZ dealers offer many different kinds of cryptocurrency for purchase, including the original cryptocurrency Bitcoin.

Bitcoin is the most well known and most popular cryptocurrency. It has been in circulation for over ten years and has high-powered billionaire backers such as Peter Theil and Elon Musk. However, several other popular cryptocurrencies have a similar level of legitimacy, including Ethereum, Tether, Polkadot, Cardano, and Litecoin.

The purpose and function of each cryptocurrency can differ. Numerous online resources can help make sense of the value proposed by these assets.

Indirectly Investing In Cryptocurrency

New Zealanders have a few avenues to invest in cryptocurrency without directly buying and caring for the assets directly.

Several NZ-based companies offer exposure to digital assets while managing all the technicalities on behalf of investors.

Auckland-based specialists such as the Crossgate Capital and Blockchain Funds are unlisted funds that invest in cryptocurrencies. The companies actively manage a diverse set of funds that cater to the needs of different investors. High growth, dividend-type returns, or a balanced Index of the top 20 cryptocurrencies are available funds.

Further afield, crypto-focused ETFs are becoming more popular and mainstream. A Bitcoin-based ETF was recently launched on the Toronto Stock Exchange, Purpose Bitcoin ETF, and has proved incredibly popular. NZ investors have to contact specialist brokers to gain access to this Canadian-based ETF.

Cryptocurrency ETFs might soon launch in the US as many applications have been lodged with the NYSE. If successfully launched, NZ investors will have an easy access to invest in cryptocurrency ETFs.

READ MORE: Evolve Bitcoin ETF (TSX:EBIT) Debuts On TSX

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