Buy Ripple with Credit & Debit Card in New Zealand

Cryptocurrencies are becoming increasingly mainstream around the world and different countries have varying rates of their adoption. New Zealand (NZ) has played a significant role in crypto adoption, becoming the first-ever country to legalize salary payment in digital currencies. Furthermore, New Zealand is considered one of the most friendly countries for crypto traders, as the country has not yet adopted any major regulatory restrictions for the crypto industry compared to many other countries.

New Zealand’s local regulator, the Inland Revenue Department (IRD), treats cryptocurrencies as property. This means that country residents may trade this type of asset, while businesses may accept crypto as a payment option. With such a favorable crypto environment, many New Zealanders quickly become interested in bitcoin, its underlying blockchain technology, and major crypto assets, including XRP.

In this guide, you will find out how to buy XRP in NZ with a payment card on CEX.IO and the differences between various services. 

What is Ripple and XRP?

First of all, it’s important to distinguish between Ripple and XRP, because many crypto newcomers may consider them to be the same. Ripple is a U.S.-based company that provides payment settlement services and processes international transactions using the RippleNet platform and a distributed database called XRP Ledger. The XRP Ledger runs the XRP cryptocurrency which can be used for borderless transactions and currency conversions within the network. 

RippleNet was launched in 2012, meaning XRP was one of the first cryptocurrencies available on the market. XRP was designed to offer fast and scalable international transactions with almost zero fees. With such a payment solution, the team behind the project aims to make the XRP network an alternative to existing international payment methods such as SWIFT.

Where to Buy XRP in New Zealand

If you want to buy XRP in New Zealand, crypto exchanges can be considered one of the simplest ways on the market to do so. However, different exchanges have a certain set of supported countries, payment methods, assets, and specifics to purchase cryptocurrency. That is why you may consider purchasing crypto using a local crypto exchange or a global one that provides its services in New Zealand.

When selecting a crypto exchange, it might also be useful to check whether or not it offers crypto purchases using your preferred payment method, explore what services it provides, and compare fee schedules between different platforms. It may help you to create a short list of crypto exchanges you can use to purchase cryptocurrencies. 

If you are looking for a reliable and secure crypto exchange, you may consider joining CEX.IO. Founded in 2013, it is a global and regulated crypto platform that offers a gateway to a wide range of services for crypto enthusiasts and traditional businesses. CEX.IO uses advanced security practices to ensure the safety of its users’ funds and complies with international regulations to provide a secure environment for crypto operations. Due to its commitment to following regulatory guidelines, CEX.IO is capable of providing its services in over 150 countries, including New Zealand. 

CEX.IO users may take advantage of multiple payment methods for crypto purchases and find an option that suits their needs best. New Zealanders may purchase crypto and fund their CEX.IO account using Visa and Mastercard payment cards, Google/Apple Pay, international bank transfers, and online wallets (Skrill, Epay). Visit the Limits and Commissions page on the CEX.IO website for more information about supported payment methods.

How to buy XRP with a credit card on CEX.IO: a step-by-step guide

To get started with CEX.IO, you first need to register an account and complete at least identity verification to get access to CEX.IO services and card transactions. After going through the verification process, you will be able to choose between several methods to buy XRP, including:

• Instant Buy
• Spot trading 
• Convert service (Wallet)

Each product has its own features and provides a different crypto experience. For example, the Instant Buy service empowers users to fund their accounts and purchase crypto simultaneously, while the other two require users to fund their accounts in advance, before purchasing crypto. Below, you will find out how to buy Ripple on CEX.IO using the above-mentioned methods.

Instant Buy

CEX.IO users found the Instant Buy product one of the fastest and most convenient ways to purchase XRP and other cryptocurrencies. With this service, you can purchase XRP in a matter of minutes, following a few simple steps:

• Go to the Buy/Sell page.
• Select XRP and a preferred fiat currency for the transaction.
• Enter your purchase amount or pick one of the precalculated packs.
• Click “Buy” to choose the payment method.
• Add a new card or use a card you verified earlier on the platform. Alternatively, you can use your CEX.IO balance for the transaction if you funded your account in advance. 
• Double-check the transaction details and confirm the purchase.
• Purchased crypto will be sent to your account balance instantly. 

Instant Buy is available on the CEX.IO App as well. Check our guide on the Help Center to find step-by-step instructions for crypto purchases using this service.

Spot trading

The CEX.IO Exchange empowers users to trade on various crypto-to-crypto and crypto-to-fiat spot markets using the Trade page on the CEX.IO website or the CEX.IO App. In order to buy XRP using this service, you need to select an appropriate XRP market and then place an order. 

There are two major order types available for spot trading on CEX.IO: market and limit orders. With a market order, you can buy or sell crypto instantly at the best exchange rate available in the order book. This order type can’t be canceled due to its instant execution. On the other hand, a limit order allows you to set the price for exchange and can be canceled before its execution. However, a limit order becomes executed when the market price reaches a specified level, or an opposite order that can fill yours appears in the order book. 

Once you select the order type, enter your purchase amount (and the price in the case of a limit order) and your order will be sent to the order book. After order execution, you will see the purchased crypto in your CEX.IO balance.

If you want to buy crypto using spot trading orders in the CEX.IO mobile app, check this guide for more details. 

Convert service

With the Convert service, it is possible to swap between different cryptocurrencies and fiat currencies, even when there is no direct currency pair available for spot trading. For this service, tap the Convert button on the Wallet page or in the CEX.IO App. After that, select XRP and another asset you want to use for the conversion, and confirm the transaction. Purchased crypto will be sent to your balance instantly. 

How to buy XRP with a debit card issued in New Zealand dollars (NZD)

At the moment, there are no direct markets available with New Zealand dollars (NZD) on CEX.IO. Nevertheless, New Zealanders can buy XRP and other cryptocurrencies using debit and credit cards issued in their local currency. Before funding your account using a card issued in NZD, make sure it supports currency conversions and international transactions. Please note that only personal Visa and Mastercard payments are accepted on the platform.

When purchasing crypto or funding your account, select a primary currency among the supported ones on CEX.IO. For the transaction processing, the purchase amount in New Zealand dollars will be converted to the selected primary currency at bank rates. The same applies to card withdrawals to cards issued in a local currency.

If you want to deposit or withdraw funds from CEX.IO using your payment card, visit our Wallet page or click Deposit/Withdraw buttons at the top right corner of the CEX.IO website. In case you use the CEX.IO App, tap Wallet, select the primary fiat currency for the transaction, and select your payment method to confirm the operation.