Cheapest Way to Buy Bitcoin in NZ
The costs in a Bitcoin purchase, a worked NZ$1,000 example and how to compare options fairly.
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The short answer
- The cheapest way to buy Bitcoin in NZ is whichever option delivers the most BTC to your own wallet for the same NZD amount, after the trading fee, the rate, any payment fee and the network fee.
- Compare quotes for the same NZD amount at the same time, and pay by bank transfer where you can, because card payments usually add cost.
On this page
The costs in a Bitcoin purchase, permalink
- Trading fee: a percentage or flat charge for the purchase.
- Rate or spread: the difference between the price you get and the market price. A low fee can come with a wider spread.
- Payment fee: card payments usually cost more than bank transfers, and some services charge to deposit.
- Network fee: the cost of sending BTC to your own wallet, which some platforms charge separately when you withdraw.
- Currency conversion: paying in a currency other than NZD can add a conversion cost.
A worked NZ$1,000 example with Flow, permalink
This example uses the same illustrative figures as Flow's fees page. Your live quote replaces them before you confirm.
| Line | Amount |
|---|---|
| Order amount | NZ$1,000.00 |
| Flow fee (0.79%, including GST) | NZ$7.90 |
| Example network fee | NZ$1.50 |
| Example BTC rate | NZ$120,000 per BTC |
| Estimated BTC received | About 0.00826 BTC |
How to compare options fairly, permalink
- Pick the NZD amount you actually plan to spend.
- Get quotes at about the same time, because the Bitcoin price moves.
- Include every step to your own wallet: deposit, purchase and withdrawal.
- Compare the BTC you would receive, not the advertised fee.
- Check which payment method each quote assumes, as card and bank transfer can be priced differently.
Why order size matters, permalink
A fixed network fee weighs more on a small order. In the example above, a NZ$1.50 network fee is 0.15% of a NZ$1,000 order but 3% of a NZ$50 order.
Percentage fees grow with the order, so on larger orders the trading fee and the rate matter more than the network fee.
Costs that are easy to miss, permalink
- Withdrawal fees when you move Bitcoin from an exchange account to your own wallet.
- Minimum withdrawal amounts that leave small balances behind.
- Card surcharges, or cash advance fees and interest from your card issuer.
- Quotes that expire, so the price you saw is not the price you pay.