in New Zealand
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Learn More about buying ATOM in New Zealand
How to buy Cosmos in New Zealand
Is ATOM a good investment in New Zealand?
Cosmos, which is introduced as "Blockchain Internet", tries to bring different blockchains together in one unit and from the very beginning solve several main problems that plague this technology. ATOM is the core cryptocurrency on top of the Cosmos platform, which is designed to facilitate communication, scaling and collaboration between independent blockchains. The projects launched in the Cosmos network allow the exchange of their tokens as well.
In addition, Cosmos presents itself as a set of tools, with its modular and adaptable features, available to developers who are ready to start working on the decentralization of the Internet and related financial infrastructure. In other words, Cosmos, known by its founding team as the Internet of Blockchain, aims to create a cryptographic network united by open-source tools to simplify transactions between them. It is this focus on customization and interoperability that sets Cosmos apart from other projects.
What is Cosmos ?
The native staking token for Cosmos platform is called ATOM. This currency forms the foundation of the token economy of the Cosmos network. The ATOM symbol is widely and commonly used on exchanges in order to address the Cosmos currency. You can easily find information about this cryptocurrency by searching its symbol, ATOM.
Is Cosmos 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 Cosmos 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 Cosmos in New Zealand
ATOM has three main use cases: A spam-prevention system, a voting system for governance, and staking. Users can “stake” their ATOMs (lock them up in a smart contract for a period of time) to earn rewards. “Staking” is similar to investing money earning a return on investment. The process is similar to depositing cash into a bank account to generate interest over time. Stakers earn the rewards for their work securing the network.
Who can buy Cosmos 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 Cosmos in New Zealand
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Frequently asked questions
The value of Cosmos is impacted by numerous factors. One of which is that it was generated with a fixed supply, similar to many cryptocurrencies. In this regard, it won't experience inflation and its price hikes could result from its scarcity. Also, all payment processes, transaction fees, rewards, etc. are paid through this digital currency. This has caused a great demand for ATOM digital currency. This demand, in turn, has caused its price to experience a good growth. In such a way that this currency has experienced a growth of 528% in the last two years.
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.
You are able to purchase the minimum order size of $10 in order to buy ATOM on our exchange. Additionally, you can choose from a number of payment methods that our exchange offers to finalize your purchase transaction. Then, on your portfolio of cryptocurrency assets, the attained ATOM units will be visible.
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
After buying ATOM digital currency, you must transfer it to a wallet in order to keep it safe and secure. Cryptocurrency wallets are mainly divided into the two categories of hardware and software wallets. Hardware crypto wallets are the most secure, but software wallets usually have more features and a better user interface. Our exchange offers you a personal online wallet, which, because it can quickly connect to a wide range of trading options, greatly simplifies your trading of ATOM cryptocurrency.