Crypto trading from NZ

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Forums › Finance and wealth management › Crypto trading from NZ

Gozer

185 posts

Master Geek
+1 received by user: 32

#293376 17-Jan-2022 13:34

I have been looking at different options for crypto trading and the likes of Coinrule looks quite enticing.

My issue (lack of experience / understanding) is I would have though when trading like that you would want to trade in and out of crypto to USD or NZD, rather than just to another crypto but if you link Coinrule with an exchange like Coinbase then my understanding is that as someone from NZ you cant hold a USD wallet with Coinbase.

This doesn't seem to be something exchanges advertise or list in their FAQs etc.

dacraka

771 posts

Ultimate Geek
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#2852321 17-Jan-2022 16:21

Can you convert to USDT instead of USD or NZD?

cokemaster

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#2852368 17-Jan-2022 17:36

For moving money in or out from Crypto - I use Bitprime. They're a NZ operation and as a result subject to the anti-money laundering rules... but they've always been quick for me.
I don't believe they offer wallet services, but they'll deposit the funds in a wallet of your choice or into your bank account.

Full disclosure - no relationship with Bitprime. I only use them to sell off my mining coins.

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Gozer

185 posts

Master Geek
+1 received by user: 32

#2852509 17-Jan-2022 22:14

dacraka:

Can you convert to USDT instead of USD or NZD?

Thanks, I guess that would be a next best thing option I hadn't thought of.

cokemaster:

For moving money in or out from Crypto - I use Bitprime. They're a NZ operation and as a result subject to the anti-money laundering rules... but they've always been quick for me.
I don't believe they offer wallet services, but they'll deposit the funds in a wallet of your choice or into your bank account.

Full disclosure - no relationship with Bitprime. I only use them to sell off my mining coins.

Thanks, that is fine if you're just holding crypto, but the intention is to do automatic trading into certain coins as they rise and then out before they dip.

The issue being you cant automatically trade from one of the other services and through bitprime to NZD and then back in again.

Even if you could any chance of profit would be wiped by fees, but I don't want to be in a situation where all cryptos are tanking and have to rely on manually withdrawing funds.