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How to Buy Crypto with Bank of New Zealand

Last updated on November 12, 2023

Quick Summary: While Bank of New Zealand does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of New Zealand cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

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Bank of New Zealand Homepage

As mentioned in my quick summary, like most New Zealand banks, Bank of New Zealand doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency exchange and comes with regulations and extra work for the banks.

Thankfully there are many cryptocurrency exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with BNZ

Let’s get started! Just follow our 4 quick steps.

1. Pick a cryptocurrency trading platform

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Bank of New Zealand.

Buy Crypto With eToro

About Bank of New Zealand

Bank of New Zealand (BNZ) is one of New Zealand’s largest four banks. It has been in operation in New Zealand since the first branch was established in Auckland in the month of October 1861, followed shortly by the first branch opening in Dunedin at the end of December in 1861. The bank offers a range of financial services including commercial, retail and institutional banking. It employs more than 55,000 individuals across New Zealand. The bank was bought by National Australia Bank and has since been operating as a subsidiary, however it still has local governance through the New Zealand board of directors.

In June 2022, BNZ is the second-largest bank in operation within New Zealand, with a market share of 19.1 percent.

For customers with a retail account, Bank of New Zealand offers a variety of services and products which include investments and savings such as credit cards for home and private loans and insurance and international and. Customers can bank through telephone banking, web banking, or by visiting one of the 180 branches throughout New Zealand.

Business banking with Bank of New Zealand has been named BNZ Partners and provides a complete range of banking services for medium, small and large companies. Services include transactional accounts with banks as well as loans, investments and payments, finance, and card insurance, as well as international banking for businesses dealing with imports, exports or foreign exchange. The Bank of New Zealand’s business banking division offers bankers with specialized knowledge of various industry sectors , including of medical, agribusiness professionals, real estate, not for profit franchising, and iwi.