Bitcoin has emerged as the most famous crypto asset, with over 50.8% of New Zealanders owning the coin. The trading rate is low but is steadily growing. The average cryptocurrency trading rate globally is at 15%, whereas in New Zealand (NZ), this rate is at 9%.
Some companies pay employee salaries in crypto, while several businesses accept Bitcoin in NZ. The article will explain why Bitcoin should be in your investment portfolio.
Bitcoin is the most famous digital asset in the world. But is it the right choice for you? Here are six benefits of considering investing in Bitcoin in New Zealand.
1. Many Businesses Accept Bitcoin in NZ
Several global retailers such as Microsoft, PayPal and Overstock accept payments in cryptocurrency. In addition, companies like Bookabach, Coin Compass, Party Dudes and Hyperion Wines accept crypto payments all over New Zealand.
In the North Island of New Zealand, businesses like 3D-Hub, Aurum, Oyster and Chop accept crypto. Similarly, businesses in South Island like Jens Hansen, Abalone Thai and Future Health accept crypto.
With Bitcoin, enjoy easier and quicker payments across the country.
2. Crypto Offers Increased Security
Bitcoin is built on blockchain technology that uses many users to validate transactions on the network. With cryptography, the transactions made are irreversible. As a result, Bitcoin is a secure asset and challenging to hack from a technology perspective.
You can better track transactions and keep fraudulent users away with digital currency payments. Bitcoin’s network has tens of thousands of different nodes. In case of issues at one server, plenty of other nodes available can pick up its work.
3. Transfer Funds Quicker
With traditional financial systems, transferring funds can take time. In addition, you will need approvals from a central authority.
Bitcoin runs on a decentralised network, eliminating a central authority like a bank. As a result, the transfer of funds is quicker compared to conventional banking systems.
4. Lower Transaction Fees
If you consider payment forms such as credit cards, they have high transaction fees. But, again, the fees are significantly higher in New Zealand compared to Australia.
Bitcoin transactions often have lower fees than financial instruments like credit cards.
5. Ease of Transaction
Buying and selling crypto has been made easy with exchanges. First, you can create an account with a crypto exchange by providing personal details and identification documents. Then, as per the rules, the exchange will verify your details before you begin trading.
Once verified, you can transfer fiat money to your account and start trading in crypto assets. Then, using a digital wallet, you can easily make payments to businesses in New Zealand.
Country borders do not limit your transactions. You can quickly transfer funds to someone sitting in a different country. Crypto markets are open 24/7, so you are not limited by time zones or work schedule.
6. Grow Your Portfolio
As you might have heard, digital currency and coins are considered the future of finance. They are already disrupting the way things work in the financial domain.
So, if you plan on having an investment portfolio that keeps up with the changing trends in the marketplace, Bitcoin will be a good investment option. In addition, people looking for long-term gains can benefit from investing in crypto assets.
If you want to invest in an in-demand crypto asset, Bitcoin is your answer. The digital asset is easy to trade and very secure. It has settlement time and fees and provides good returns. If you have crypto assets in your wallet, you can easily use them to make payments in NZ. Several businesses accept Bitcoin in NZ. Do your research before selecting a crypto exchange to get started with Bitcoin investments.