Yesterday Cryptopia, New Zealand’s biggest cyrptocurrency exchange, put out a statement saying they had experienced an attack and had experienced “significant losses”. All deposits and withdrawals were frozen. No timeframe was given for how long the freeze would be in place, and no indication was given of how heavy user losses were expected to be. […]
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How To Cash Out Your Bitcoin In New Zealand
One of the common questions we have from Bitcoin investors is: How to turn your coins back into cash? When selling your Bitcoin the process is always the same; first you need to agree to a price. Using the spot price on coinmarketcap.com is usually a good starting point. Secondly you need to arrange a […]
What Is The Lightning Network?
There have been many arguments against Bitcoin since its inception, but probably the most relevant one today is that of scalability. The truth is, Bitcoin is slow and expensive in its current form. The ability of Bitcoin to scale is simply non-existent during high volume periods. If you were active during the 2017 bull run, […]
Analysing The Bitcoin Bear Market
I’m sure you’ve heard the investing philosophy “be greedy when others are fearful, be fearful when others are greedy” – a quote from famous stock investor Warren Buffett. But there’s more to this quote than people interpret on the surface. The quote basically tells us to be contrarian when it comes to market cycles, but I […]
How Bitcoin Works (For Tech Dummies)
So Bitcoin is cool and all, but how does it actually work? Like what is happening under the hood? You’ve probably seen people talking about mining, immutability, hash rates, algorithms but for us tech noobs, we usually just gloss over that stuff. But you can’t do that forever. Eventually you need to read about this […]
A Guide To Using Your Ledger Nano Hardware Wallet
If you’ve already read my guide to wallets, you’ll know that I highly recommend using a hardware wallet to store your cryptocurrency. This is because for the average person, keeping a web wallet or a paper wallet secure is arduous and more trouble than it is worth. Unless you’re the type of person who loves cryptography as […]
What Is The Best Bitcoin Wallet?
If you’ve been looking to get into Bitcoin, you’ve probably heard the term “wallet” being thrown around, along with “wallet address” and “wallet type” and so on. Understanding what a wallet is and why you need it is important if you want to be involved in the Bitcoin economy. Let me explain: One of the […]
Do you have to pay tax on cryptocurrency gains in NZ?
The IRD recently released a guidance on taxation of cryptocurrency. Here were the key points: There are no special rules for cryptocurrency. It is classed as property and taxed the same way. Taxation depends on intention at time of purchase (did you purchase for disposal or for investment/income?) Bitcoin is most likely to be given […]
A Guide To Purchasing Bitcoin On Independent Reserve (with NZD)
Purchasing Bitcoin in NZD can still be a tricky process, but luckily there are a few exchanges that allow you to do so. In my opinion, the best option by far for New Zealanders is Independent Reserve. This is an Australian exchange but also accepts NZ customers and allows you to trade in NZD. If […]