Buy Ethereum (ETH) With Credit or Debit Card in New Zealand

After bitcoin (BTC), ethereum (ETH) enjoys the second-highest market cap in the cryptocurrency ecosystem. But aside from its popularity, the Ethereum blockchain network made some substantial modifications to Bitcoin’s underlying protocols, and helped the crypto space expand at a dizzying pace. Read along as we learn a little more about ethereum, and how to buy it with a credit card in New Zealand using CEX.IO.

What you should know before buying crypto in New Zealand

Now that you’re thinking about taking the next step in your crypto journey by buying ethereum (ETH), it’s always important to ensure that you’re making the most informed decisions every step of the way. By taking the time to learn more about the digital asset you’re interested in purchasing, you’re shoring up a greater understanding of the crypto ecosystem, while getting a more accurate picture of that crypto’s status within the space. While you can learn a lot about crypto by simply referring to its market health, knowing the origin story and some relevant use cases can help shed some light on its potential for growth, or how it stands to adapt in the long run to the broader Decentralized Finance, or DeFi environment.

Additionally, understanding the current crypto rules and regulations in your country will help you set the most accurate parameters for your crypto journey. New Zealand has taken a welcoming approach to cryptocurrency by putting very few restrictions on the movement of digital assets. The country’s Inland Revenue Department (IDR) has classified cryptocurrency as a form of property, and taxes any incomes accrued from digital assets as they would other, more tangible instruments. By enjoying a status similar to gold, bitcoin and crypto more broadly are living up to the aim of aping the appeal of precious metals.

While New Zealand has continued to take a more hands-off approach when it comes to interfering in the crypto space, some are calling for stricter measures to better shield market participants from errant price fluctuations, and the occasional bad actor. One solution proposed by the Reserve Bank of New Zealand (RBNZ) is to develop a central bank digital currency (CBDC) to help buffer market turbulence by tethering the coin’s value to the state. Although it’s still in the early stages of development, this would not be the first example of a government investing in stablecoins as a solution to curb crypto’s unpredictable nature.

All that notwithstanding, New Zealand remains enthusiastic about the potential future crypto could hold for individuals and institutions alike. Currently, New Zealand users can access CEX.IO’s full suite of services. With over five million global users, CEX.IO is one of the biggest, most trusted bitcoin trading platforms in the world. 

What is ethereum (ETH)?

Much like with bitcoin, ethereum is the native token to the Ethereum blockchain network. Where bitcoin’s blockchain broke barriers by demonstrating the benefits of DeFi in real time, ethereum manages to expand bitcoin’s application by allowing the Ethereum network to be replicated, re-programmed, and augmented to meet the demand of curious tech pioneers. By running the entire Ethereum Network as an ecosystem in its own right, developers are encouraged to develop decentralized applications, or dApps, and even create entirely new cryptos on top of the existing network. These innovations are due in large part to the Ethereum network offering some the bitcoin blockchain failed to accommodate: smart contracts.

Much like blockchain technology, smart contracts enjoyed a pre-crypto life before they were harnessed to revolutionize everything from the financial sector to, as some would argue, the entire user experience of the internet itself. While perhaps flirting a bit with the hyperbolic, smart contracts are a crucial piece of what makes DeFi such an intriguing possibility for a new generation of developers. 

What are smart contracts?

Computer scientist, legal scholar, and famed cryptographer Nick Szabo coined the term smart contracts and compared their functionality to that of a vending machine. Where a vending machine has a clear set of rules dictating how it will respond to certain actions and inputs, so do smart contracts. While this example works to reinforce the financial use cases for smart contracts, in reality they can be applied to any interlocking data set or system that requires ongoing attention. In other words, smart contracts allow developers to deploy blockchain’s ledger capabilities with precision-grade accuracy across a growing number of projects, communities, and services.

To bring it full circle: Ethereum is building a massive dApp platform. Internally described as a “world computer,” this vision for a decentralized platform distributed and run across the nodes of the network is prompting new visions of a future decoupled from the corporations, governments, and gatekeepers that currently dictate our online interactions. By embracing a world without these central authorities, there’s no telling what new forms of communication, creativity, and commerce could emerge to accommodate this new social arrangement. Since its launch in 2015, Ethereum has had several hard forks, and spawned dozens of altcoins and tokens native to an ever-growing cadre of dApps and emerging networks.

How to buy Ethereum with a credit card

Now that you have a better understanding of what ethereum is, and how its development has led to an explosion of new cryptos since its inception, it’s time to talk about how to take the next steps toward buying some ethereum. Read along as we learn how to buy ethereum in New Zealand.

Find a reliable crypto exchange 

When you’re ready to buy ETH, the first step is to get registered on an exchange like CEX.IO. Once you make an account, get verified, and complete the Know Your Customer, or KYC process, you can save preferred payment methods to your account for later access across CEX.IO’s suite of products and services. CEX.IO has enjoyed PCI DSS compliance since 2014, and was the first exchange to empower users to buy crypto with a credit card. Since achieving that landmark, we’ve gone on to partner with Apple Pay, Google Pay, and PayPal*, as well as several international wire and bank transfer methods. By maintaining a strict fidelity to regulatory due diligence, CEX.IO is able to offer a broad range of options to meet users wherever they are on their crypto journey.

How to buy ethereum with a debit card

Similar to buying ethereum with a credit card, CEX.IO allows you to store debit card information in your account to later access across our products and services. Plus, debit card users still have the luxury of using Apple Pay, Google Pay, and PayPal* services, since those providers also integrate with most debit card providers. However, you must still have an active and verified account on a trusted exchange like CEX.IO before you can use a debit card to purchase crypto. But remember – whether you’re paying with a credit or debit card, always use sound judgment when making purchases or conducting financial transactions in the crypto ecosystem.

*PayPal is currently available for U.S. customers only. Check the availability of payment methods on our site. 

Where to buy ethereum in New Zealand

According to New Zealand’s current regulatory stance toward cryptocurrencies, anyone curious about becoming a market participant can choose from a variety of ways to access the crypto ecosystem. Where a reputable exchange like CEX.IO will offer a suite of accommodations for individuals and businesses alike, choosing a more mobile option like the CEX.IO App will further empower you to manage your digital asset portfolio from wherever you get an internet connection. 

By combining fully integrated, multi-asset wallet capabilities with a curated selection of CEX.IO’s award-winning tools and services, the CEX.IO App puts 100+ coins and tokens at your fingertips. Choose from a number of luxury payment options, and manage your digital asset portfolio on the go, wherever your journey takes you.

At the end of the day, if you have a stable internet connection, CEX.IO can help you buy, sell, and maintain your crypto portfolio anytime, anywhere. While your country of origin can present certain limitations, our users in New Zealand can enjoy CEX.IO’s full suite of products and services, as well as a broad listing of available coins and tokens to learn about, hold, and trade.

Here’s a step-by-step guide on how to buy ethereum in New Zealand using CEX.IO

Now that you’ve come this far in your quest for ethereum, it’s time to cross the threshold and enter the ecosystem. But before we jump ahead, make sure you’ve already set up the payment method you’ll use to buy your crypto. Since crypto prices are calculated on a rapidly changing basis, not having your payment methods registered ahead of time can mean missing out on current prices. 

You can connect credit/debit cards and bank routing numbers directly to your CEX.IO accounts to easily purchase crypto from a web browser or mobile device. This same principle applies to Apple Pay, Google Pay, and PayPal*: getting each method set up ahead of time will ensure your CEX.IO account knows to suggest them as valid forms of payment.

*PayPal is currently available for U.S. customers only. Check the availability of payment methods on our site. 

How to buy ethereum using CEX.IO from a desktop browser window

OK, now that you have your payment methods registered to complete transactions on CEX.IO, here’s how to buy crypto from a desktop web browser:

1. Login to your CEX.IO account.
2. Click the dropdown menu on the upper left, and choose Instant Buy from the center column.
3. Click on BTC to open the list of available digital assets. Scroll through the list until you see ETH, then click on ETH.
4. Select the amount of ETH you wish to purchase or enter the custom amount in the last box.
5. Once you’re satisfied with the amount, click Buy to proceed with the transaction.
6. Double-check the pricing, then enter your CVV/CVC code and click the box to confirm you understand the terms and conditions of the transaction.
7. When you’re all set, click Buy to confirm the transaction.

Congratulations – now you know how to buy ethereum! In addition to owning your very own crypto, your knowledge of the CEX.IO plartform puts the whole ecosystem at your fingertips. Please note that you can follow these steps to buy bitcoin, or any other digital asset currently listed on the platform, and continue to grow your portfolio.

How to buy ethereum using the CEX.IO mobile app

Now that you know how to buy ethereum in New Zealand using CEX.IO on desktop, let’s explore using the CEX.IO App to do the same. Remember, making sure your payment methods are registered and ready to go is paramount to remaining in control when you choose to purchase crypto.

Once your preferred payment method is in the system, read along and learn how to buy crypto using the CEX.IO App:

1. Open the CEX.IO App, log into your account, and complete the two-factor authentication.
2. Tap Buy BTC in the upper right of the Buy crypto widget to choose the digital asset you wish to purchase.
3. Scroll or search for Ethereum, then click on it.
4. Type in the amount of ethereum you wish to buy or choose one of the ready-to-buy boxes. Click Buy now to confirm your choice. 
5. Select the payment method you would like to use to complete the transaction, then click Proceed at the bottom of the screen.
6. On the next screen, confirm the transaction by clicking the side button of your device.

Now you know how to purchase crypto on both CEX.IO desktop services and mobile app. Please note that if you wish to buy any other digital asset, you can repeat the above steps and simply select a different crypto.

Thank you for taking the time to learn more about the ecosystem, and expand your crypto toolkit.