Buying Cryptocurrency in New Zealand
Get exposure to cryptocurrency the Simple, Smart and Trusted way.
What Is Cryptocurrency?
Cryptocurrencies are an emerging asset class that allows you to buy, sell or invest digitally. Since the creation of Bitcoin in 2009, cryptocurrencies have become a globally recognised alternative investment. Cryptocurrencies don’t have physical form; they are digital assets based on blockchain technology, and are held on distributed ledgers controlled by decentralised networks.
Cryptocurrencies handle payments and investments without the need for centralised trusted parties such as banks. Unlike cash, many cryptocurrencies are not subject to inflation resulting from credit creation by governments.
Cryptocurrency in New Zealand
Cryptocurrency is a legal investment in NZ. However, the Inland Revenue Department (IRD) treats digital assets like property and this can influence the way they are taxed and in particular whether they are subject to Capital Gains Tax (CGT).
You can buy bitcoin or other cryptocurrencies and hold as an investment, or if you have business you can accept cryptocurrency as payment. Cryptocurrencies are not recognised as legal tender in NZ, but accepting them as payment is considered a barter transaction and remains taxable.
Always seek professional tax advice.
Direct Investment Comparison:
Bitcoin vs Vault International Bitcoin Fund
Below is a detailed comparison of investing in Bitcoin directly versus investing in the VIBF.
|Investment in Bitcoin||Investment in VIBF|
Start Investing through InvestNow
Why Should You Invest in Vault International Bitcoin Fund?
Investing in Bitcoin through the VIBF, a New Zealand based PIE fund, is:
The VIBF is a registered managed investment fund in NZ that only invests in regulated overseas funds that hold their assets in cold storage secured by international grade security. Vault doesn’t hold your assets - these are held by a regulated NZ custodian.