Bitcoin (BTC) was the first cryptocurrency to ever enter the crypto market. Bitcoin was created in 2009 by an anonymous entity that continues to use the alias Satoshi Nakamoto. The goal of Bitcoin was to allow online payments that could be sent between parties without a third party or financial institution. All Bitcoin transactions are sent and received directly between independent network participants.
As it currently stands, Bitcoin has the largest market cap of any cryptocurrency. The asset has had tremendous growth since its initial launch and has reached multiple all-time highs throughout its lifetime.
BTC has been designed to have a limited supply that can never exceed 21 million units. The process of creating new coins is known as Bitcoin mining. This process requires high-powered computers to solve a complex puzzle/equation which in turn verifies new transactions and mining new coins.
Check out our Guide to Bitcoin on Swyftx learn, to find out more.
Sign up to Swyftx to begin trading Bitcoin in New Zealand.
Buying Bitcoin has never been easier when you trade on Swyftx crypto exchange. Simply create an account, verify your identity and buy Bitcoin. Having an account with Swyftx allows you to trade over 300+ cryptocurrencies on secure and user-friendly trading platform.
Follow these steps to begin buying Bitcoin:
Create your account: Sign up to Swyftx by providing your full name, phone number and email address. Ensure you create a secure password.
Verify Identity: To verify your account all you need to do is verify your phone number, email address and identification (I.e. passport or driver’s licence)
Deposit funds: Once your account is verified, you can deposit Australian dollars (AUD) from your bank account into your Swyftx account, via numerous payment methods including:
Start trading: Once you have funds in your trading account, all you have to do is enter the amount of Bitcoin you wish to purchase and click the ‘Buy Bitcoin’ button. After you buy BTC, the Bitcoin will become immediately available in your Bitcoin wallet.
Swyftx offers an abundance of valuable features and benefits, to make it easy to buy, sell and trade Bitcoin (BTC). We offer some of the lowest trading and transaction fees on the New Zealand crypto market, letting you trade more, for less.
Our trading platform is equipped with a range of trading features, allowing you to create automatic, recurring, and combined orders. We have integrated TradingView charts with every asset, so you can track your favourite assets and develop crypto trading strategies.
If you are just starting your crypto journey and want to practice trading before you start investing your own money, you can switch your account to demo mode. Demo mode lets you practice trading digital currency using real-time data. Once you are confident, switch off demo mode and begin trading Bitcoin.
When you purchase Bitcoin with Swyftx your assets are automatically stored in a secure digital wallet that is integrated with your account. You can access your Bitcoin at any time when it is stored in your Swyftx wallet.
If you are planning to hold onto your assets for an extended period of time, the crypto wallet option we recommend choosing is a hardware wallet to keep your crypto safe and offline.
Bitcoin has paved the way for all digital assets to come after it, creating a multi-trillion-dollar industry that continues to rapidly expand. BTC was the first completely decentralised and trustless payment system that uses blockchain technology. Bitcoin and blockchain technology have revolutionised the way we use currency and has inspired the development of countless decentralised projects and companies.
There is a degree of risk when making any sort of investment including Bitcoin. It is always important to have a trading strategy in place to help minimise risk. Make sure you conduct your own research before investing in bitcoin or any cryptocurrency and always conduct trades on a secure Bitcoin exchange.
Swyftx implements a robust security framework to ensure our customers can trade Bitcoin in a safe environment.
Bitcoin mining is the process of confirming a group of transactions on the Bitcoin network. A Bitcoin miner uses high-powered computers to solve complex puzzles that verify these transactions. If a miner successfully verifies all transactions before anyone else they are rewarded with a predetermined amount of BTC.
The process of mining Bitcoin can be a costly endeavour due to the power required of the mining hardware that runs constantly.
Since BTC has surged in value being able to buy a partial amount lets people enter the bitcoin market without needing to spend thousands of dollars. Swyftx allows users to buy as little as $1 of Bitcoin.
The smallest unit of Bitcoin every recorded on the Blockchain was 0.00000001 BTC, this is known as a Satoshi.
The price of Bitcoin is determined based on supply and demand. The more people wanting to buy BTC influences how the price fluctuates. If there is an influx of people buying Bitcoin, the assets price will rise. Whereas an increase in people wanting to sell Bitcoin will cause prices to fall.
The Swyftx exchange platform allows you to buy and sell Bitcoin and other cryptocurrencies. You may have noticed that the buy and sell prices are different on the assets pages of our website.
The selling price of Bitcoin will depend on the agreed selling price in the last trade that occurred on the Swyftx platform. To sell Bitcoin, navigate to the sell tab in your account, select how much Bitcoin you wish to sell and confirm your order.
Swyftx New Zealand has low spreads and low trading fees allowing you to save on costs and maximise your profits.
Verify your account instantly with our quick and easy document free verification process and buy BTC in minutes.
We prioritise security by offering features such as two-factor authentication (2FA) and breached password detection.
Learn to trade and gain experience with Swyftx risk free by enabling the demo mode. We even simulate real life liquidity and market depth.Create a free account
Deposit and withdraw NZD via bank transfer.
Automate your crypto investments. Setup recurring deposits to your Swyftx account and have then automatically split across your own range of cryptos.
Never miss a trade or get caught out by the crypto market volatility. Set Buys and Sells to trigger at any price you want.
Easily secure your account with multi-factor authentication and biometric login. Swyftx also monitors other sites for data breaches that might result in compromises on your account.