in New Zealand
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Learn More about buying CHZ in New Zealand
How to buy Chiliz in New Zealand
Is CHZ a good investment in New Zealand?
CHZ coins were released to the market in 2018. But it didn’t have any price until July 2019, when it started to become more popular among sports fans. The initial price of CHZ was $0.02, and it didn’t change for one year. Then it had a price jump in 2021 and suddenly reached its highest value of $0.89. The rest of the year passed with an average price of $0.50. Like most cryptocurrencies, 2022 wasn’t that much great for CHZ owners. Its price fluctuated a lot, but never reached that high to set a record. It ended the year with a price of $0.10.
Cryptocurrency investors often want to know what the cryptocurrency's future holds. But the future is unpredictable, especially in the volatile world of cryptocurrencies. However, to make it easier to decide about buying a coin, analysts and crypto experts analyze the past and current situation of the crypto market and give price predictions, which can be useful but should not be the only factor you pick to decide on buying crypto. They think the CHZ price might finally get higher than $1 by 2028 and would rise as high as $3 by 2030.
What is Chiliz ?
Chiliz is the world's first cryptocurrency dedicated to sports fans. Socios is the platform that works with this cryptocurrency. Sports clubs can create Fan Tokens on this platform, and their fans can buy tokens with their favorite sports club's logo to show their support. They also can trade the tokens with others. The Fan Tokens show interest in a particular sports team, especially football clubs. The platform was launched in December 2019. The first sports partner to this platform was the Italian soccer team of Turin.
Check out Chiliz official website for more information.
Is Chiliz legal to buy in New Zealand?
Yes, buying and owning cryptocurrency is legal in New Zealand. The country has taken a
supportive approach to cryptocurrencies and has set guidelines for the use and exchange of
digital assets. The Inland Revenue Department considers cryptocurrencies to be a form of
property for tax purposes and requires individuals to pay taxes on any gains made from their
Is Chiliz taxed in New Zealand
Yes. According to The Inland Revenue Department (IRD) of New Zealand’s provided guidance
on the tax treatment of cryptocurrencies, cryptocurrency is considered property for tax
purposes. This means that any gains made from the sale or exchange of cryptocurrency are
subject to capital gains tax. Additionally, in New Zealand, if you acquire cryptocurrency with the
intention of selling it in the future, your gains from the sale or exchange of these assets are also
considered taxable income and are subject to the same tax rates as your other income. This
applies to profits from trading, exchanging, selling, or disposing of cryptocurrency, as well as
income received from cryptocurrency mining, staking, and airdrops. The tax rate for
cryptocurrency gains in New Zealand is based on a progressive tax system, with rates ranging
from 10.5% to 39% depending on your total taxable income.
The Inland Revenue Department of New Zealand has also provided information on how to
report and pay taxes on cryptocurrency transactions. It is advisable to seek professional tax
advice if you have questions about how your cryptocurrency transactions are affected by New
Zealand tax laws.
After you've bought Chiliz in New Zealand
CHZ is used on the Socios platform by sports fans. They usually use this token to purchase NFTs, which are the particular token with their famous sports team logo. They can play a role in the decisions of their favorite team by voting on different polls. The more sports team participate in this platform; the higher the value of its digital asset may be. Furthermore, you should transfer your coins to your account in the Socios platform to be able to use them for the mentioned operations.
The other option you have after buying CHZ is to keep it as an investment, which is a risky job. Because no one can guarantee that Chiliz is a good investment or may have a higher value in the future. Therefore, you should check different factors, read the analyses about this coin, then decide on buying it. Furthermore, as a beginner, it is always recommended to start with a limited amount of money and have an exit point for your investment to reduce the risk of loss.
Who can buy Chiliz in New Zealand?
In New Zealand, anyone over the age of 18 and who has a valid government-issued ID can buy
cryptocurrency. There are no restrictions on who can buy cryptocurrency in New Zealand, but it
is important to note that all cryptocurrency transactions are subject to anti-money laundering
and counter-terrorism financing laws. This means that individuals and businesses must comply
with certain identification and verification requirements. Plus, when it comes to purchasing
cryptocurrency, using a cryptocurrency exchange is the most convenient option. Our exchange
specially allows you to exchange fiat currencies for cryptocurrencies through various payment
methods, such as Apple Pay, Google Pay, credit card, debit card, bank transfer, and PayPal.
Our exchange also offers these payment options with no exchange fees while ensuring secure
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Payment methods to buy Chiliz in New Zealand
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Frequently asked questions
You can find several exchanges that accept CHZ tokens. However, you should know that most exchanges receive an extra expense as the processing fee on their platform. If you want to find a more cost-effective exchange, you can buy CHZ from the Blocktrade exchange with zero processing fee.
Yes. According to the Tax Guidance information provided by The Inland Revenue Department
(IRD), In New Zealand, if you use cryptocurrency to purchase goods or services, it is considered
a barter transaction and is subject to goods and services tax (GST). The GST rules apply to the
value of the goods or services being provided, regardless of whether they are paid for in fiat
currency or cryptocurrency. This means that the same amount of GST is payable on a
cryptocurrency transaction as on a transaction conducted in fiat currency. It is the responsibility
of the seller to charge and collect the correct amount of GST on the sale of goods or services,
and to report and pay the GST to the Inland Revenue Department (IRD). The buyer is also
required to keep records of cryptocurrency transactions for tax purposes.
The cheapest way to buy cryptocurrency in New Zealand may vary depending on a number of
factors, such as the amount you want to purchase, the type of cryptocurrency you want to buy,
and the payment method you choose. One of the most convenient ways to buy cryptocurrency
in New Zealand would be through our cryptocurrency exchange. Our exchange allows you to
buy cryptocurrency using various payment methods, such as bank transfer, credit card, Apple
pay, Google pay, Debit Card and PayPal. Some exchanges charge fees for their services but
our exchange has zero fees for buying and trading your cryptocurrency.
Alexandre Dreyfus is the founder and CEO of Chiliz. He has 20 years of experience in developing different web-based companies.
The exact number of people who own crypto assets in New Zealand is not publicly available.
However, various reports indicate that the adoption of cryptocurrency is growing in the country,
with more and more individuals and businesses investing in and using digital currencies.
According to a survey conducted by the New Zealand Reserve Bank in 2020, around 5% of the
adult population in the country owns cryptocurrency. This represents a significant increase from
previous years, and suggests that the popularity and use of cryptocurrency is continuing to grow
in New Zealand. However, it is important to note that these figures may not reflect the actual
number of people who own crypto assets, as some individuals may not have disclosed their
CHZ is a cryptocurrency that lets its holders purchase NFT tokens that are created by their favorite sports team.