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Bitcoin and other Cryptocurrency trading in New Zealand.

21/12/17

The use of Cryptocurrencies is getting bigger and we think are the future of the way you will buy and sell things around the World.

 

You may think you have missed out, but you have not missed out, this is still the beginning. Still only a small percentage of the World population actually understands how Cryptocurrencies work and when more work it out, more will be buying. But who really understands how current money works, how one piece of paper is worth $5 and one is worth $10 when they are the same sort of paper, and we still invest in that.

 

Right now the Crypto World is the battle between many different Cryptocurrencies to be the “one” of a few that the World will adopt, along with the current “top dog” Bitcoin. There are over 1200 Cryptocurrencies out there that you can buy and sell on many exchange sites including a New Zealand site called Cryptopia. 

 

Think of Bitcoin being the biggest and most well known Crypto, like Trademe for New Zealanders, or Ebay for the rest of the World as the top auction sites. But the outcome of who will rule the Crypto World is years away from being decided, and there is room for many to survive, as many Cryptocurrencies can be used for different things (buying houses to buying ice creams and online gaming) There are a few big ones including Ethereum, Litecoin and Bitcoin Cash that are the more popular. Why they are so popular is is up to you to do your reserch and find out.

 

It is the Wild West with Crypto's jumping huge percenterges in hours, and you could loss it all, but also make a lot with some research and a well educated investment/guess or two.

 

All those who say it will crash, may be right , but we think the Worldwide Crypto market is here to stay and some very large “safe” New Zealand and Worldwide finance companies have also crashed with many people losing everything.

Only put in what you can afford to lose.

 

Here is how we starting buying our first Bitcoin in New Zealand

We started buying Bitcoin through localbitcoins.com and it was a good way to start, but the prices you are buying are above the market rate.

We now do everything through a New Zealand Company called Cryptopia which seems to be fine and easy to use.

We make sure we do not have all our Cryptocurrency in one place so we moved half of our Bitcoin to a Copay Wallet app on a smartphone and our other different Cryptocurrencies onto a Coinomi app. Our last transaction to move Bitcoin away from Copay attracted a 8% fee. Very painfull, but this is mainly controlled by the “mining” process so don't move your bitcoin around much.

 

Enjoy your start in this exciting World.



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