Crypto Investing Advice - Noob Questions

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Forums › Finance and wealth management › Crypto Investing Advice - Noob Questions

tchart

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#289374 2-Sep-2021 10:39

My kids have been using sharesies for a while now. My more tech orientated kid wants to now invest in crypto (so just buy/sell not mining).

Whats the best/easiest way to do this from NZ? Do I just get signed up on something like crypto.com? Or is the more to it eg do we need to use a NZ platform for exchanging real money to crypto and vice versa?

Thanks

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#2770475 2-Sep-2021 10:47

Investing?! Crypto is more like gambling. There's a big chance you lose your money, and a small chance you make a lot of money.

cruxis

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#2770478 2-Sep-2021 10:49

I bought some off kiwicoin. Used internet banking. Moved off the exchange to own wallet.

Stick to the golden rule, "if it is not your keys, it is not your coin"

freitasm

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#2770479 2-Sep-2021 10:53

There are very few local exchanges but I just received a press release a few days ago about a new entrant - coming from Australia. I cannot vouch for them but here it is: NZ Crypto Exchange | Trade Crypto Anytime, Anywhere | Swyftx

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tchart

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#2770481 2-Sep-2021 10:55

timmmay:

Investing?! Crypto is more like gambling. There's a big chance you lose your money, and a small chance you make a lot of money.

Yep Im totally aware of that. This is a learning excercise for the kids so not really "investing" and would only be tens of dollars.

tchart

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#2770482 2-Sep-2021 10:55

cruxis:

I bought some off kiwicoin. Used internet banking. Moved off the exchange to own wallet.

Stick to the golden rule, "if it is not your keys, it is not your coin"

Thanks thats the kind of info I was after!

tchart

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#2770483 2-Sep-2021 10:56

freitasm:

There are very few local exchanges but I just received a press release a few days ago about a new entrant - coming from Australia. I cannot vouch for them but here is: NZ Crypto Exchange | Trade Crypto Anytime, Anywhere | Swyftx

I will check that out thanks @freitasm

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dacraka

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#2770495 2-Sep-2021 11:21

NZ based one: Buy and it directly goes to your chosen wallet using NZ's Account2Account payment mechanism: https://easycrypto.com/

Is the private crypto forum still going, here somewhere?

freitasm

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#2770500 2-Sep-2021 11:30

@dacraka:

Is the private crypto forum still going, here somewhere?

No, it is not. The user who created it has since been removed from Geekzone so the forum disappears with the account. Subscribers are welcome to create private sub-forums and manage access to it.

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wellygary

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#2770503 2-Sep-2021 11:34

dacraka:

NZ based one: Buy and it directly goes to your chosen wallet using NZ's Account2Account payment mechanism: https://easycrypto.com/

Is the private crypto forum still going, here somewhere?

Accoount2Account (like Poli) Violates the T&Cs of pretty much every Bank's Internet banking systems... It gives them a really big out if things go sideways

Gordy7

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#2770511 2-Sep-2021 11:49

To get started I used:

https://www.moneyhub.co.nz/beginners-guide-to-everything-bitcoin-and-blockchain.html

and use

https://easycrypto.com/

and

https://www.exodus.com/

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dacraka

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#2770537 2-Sep-2021 12:20

wellygary:

dacraka:

NZ based one: Buy and it directly goes to your chosen wallet using NZ's Account2Account payment mechanism: https://easycrypto.com/

Is the private crypto forum still going, here somewhere?

Accoount2Account (like Poli) Violates the T&Cs of pretty much every Bank's Internet banking systems... It gives them a really big out if things go sideways

Technically true. However you can use bank deposit if you like as well.

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tchart

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#2770577 2-Sep-2021 13:48

Thanks everyone! Appreciate the various steers. Have signed up for Swyftx for now as they have a "demo" mode where you can play around before sinking money into it.