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How to Buy Crypto with Kiwibank in New Zealand

Last updated on November 23, 2023

Quick Summary: While Kiwibank 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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Kiwibank Homepage

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

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

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Kiwibank

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

1. Pick a cryptocurrency exchange

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 crypto

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 Kiwibank.

Buy Crypto With eToro

About Kiwibank

Kiwibank Limited is a New Zealand state-owned bank and financial service provider that has about 4% market share of assets. Kiwibank is part of the New Zealand Government and provides certain banking services through branches. Kiwibank branches were previously situated in PostShops (post office). Their Board of Directors presided over by the former New Zealand Prime Minister Jim Bolger from 2001 to 2010. The present Chairman for the Board of Directors of New Zealand will be Jon Hartley.

Kiwibank invested $8 million into 51% of New Zealand Home Loans, an online home loan lender that specializes in debt reduction in June 2006. The company raised this amount in 2008 by another 25%, and then increased it to 100 percent in 2012. New Zealand Home Loans continues to expand, offering a viable alternative to the traditional model of banking and has a network of more than 75 franchises.

The core business of Kiwibank is the personal and corporate banking KiwiSaver and various other wealth-related services.

Products and services for personal banking include personal loans, home credit cards, loans daily savings accounts investments services, and insurance products.

Services and products for Business Banking include business loans and cheque accounts credit cards, investments merchant services, payment services , and insurance.

In terms of international services, this would include the manual and online money transfers, foreign exchange as well as Foreign Currency Accounts as well as travellers’ cheques.