This is a guide for people who want to learn how to setup a Bitcoin Wallet and buy their first Bitcoin in New Zealand.

This guide will get you using Blue Wallet on your Android or iOS device and then using EasyCrypto to buy Bitcoin.

This guide is designed for people who are beginners. There are more advanced considerations and best practices that will be covered in a future article, but consider this guide suitable for getting started and for learning!

Blue Wallet is open-source and one of the easiest wallets to get started with.

EasyCrypto is a Registered Financial Services Provider based in New Zealand.

Getting a Bitcoin Wallet

1. Download Blue Wallet.

• Apple on the Apple App Store.
• Android on the Google Play Store.

2. Add a Wallet

Tap “Add Now” and select “Bitcoin” Wallet from the list and give your wallet a name, then tap “Create”.

3. Write down your Seed Phrase on paper

Important: Your Seed Phrase is what lets you access your Bitcoin on the Bitcoin blockchain.

Your Seed Phrase is kind of like a special password that unlocks all your Bitcoin. It is very important that your seed phrase is never photographed or saved digitally. It should ONLY be written down physically by you e.g. with pen and paper or engraved into a piece of steel and safely stored where it will not be tampered with or seen by anyone else.

Even if you lose your phone, as long as you have your seed phrase then your Bitcoin can be recovered (though this means that anyone who finds your seed phrase also has access to your funds!).

Write the 12 Seed Phrase words down and triple check that you have them in the correct order, then tap “Ok, I wrote it down”.

4. Generate your first Bitcoin Wallet address

Now that you have your Bitcoin Wallet setup, tap “Receive” to generate your first Bitcoin Wallet address. It will start with something like bc1….

This is an address that can be used to receive Bitcoin from a service such as EasyCrypto.

You can generate as many addresses as you like and there is no limit. To ensure your best privacy you should create a new address for every transaction you make, though you won’t lose any funds if you happen to reuse an address.

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Buying your first Bitcoin with EasyCrypto

There are a number of Bitcoin exchanges available in New Zealand, most of them have the same general functionality. See previous article on where to buy Bitcoin in NZ.

For this guide we will use EasyCrypto. You can use EasyCrypto on your smartphone or computer, but you may find it easier to complete the signup steps on a computer.

1. Sign up at EasyCrypto

Go to easycrypto.com/nz and click “Sign up”.

You will be sent an email to confirm, and then you are in.

2. Confirm your account details

You will be asked for some personal information to fill out your account. Please note it is important to fill these out as an individual and not as a business or other entity.

3. Make your first buy

Select the amount of Bitcoin (BTC) that you would like to buy, and then choose the destination address. Please note the minimum order is $50.

Create a Bitcoin Wallet Address from Blue Wallet, (Starting with bc1….) and copy it into EasyCrypto under “Delivery Address”.

Important: Double check that the Bitcoin Wallet Address is copied exactly.

4. Pay and Receive Your Bitcoin!

Select your payment method and then follow the prompts to pay.

It can take several hours or up to a day for a payment to be processed and for your Bitcoin to arrive. You will receive an email from EasyCrypto once it is on its way.

Final Thoughts

This is a very simple guide designed for beginners to get started buying Bitcoin! Once you are comfortable with managing your Bitcoin Wallet addresses and buying through a service like EasyCrypto, you may wish to explore other wallets or buying services.

The great thing about Bitcoin is because it is an open platform there are many wallets and service providers out there and so you are not limited by what you use.

If you have any further general questions please get in touch at hello@nzbitcoiners.org

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