If you hold cryptocurrency and want to cash out to New Zealand Dollars, there are several paths you can take depending on which tokens you hold and how quickly you need the funds. This guide covers the most practical options for New Zealand-based users.
Option 1: Easy Crypto NZ
Easy Crypto NZ is one of the most straightforward on-ramps and off-ramps for Kiwi crypto users. They support a wide range of tokens and allow you to sell directly to your New Zealand bank account.
- Create an account on Easy Crypto NZ and complete their identity verification (KYC). This typically requires a photo ID and proof of address.
- Select the token you want to sell from their supported list.
- Enter the amount and provide your NZ bank account details.
- Send your crypto to the wallet address Easy Crypto provides.
- Receive NZD in your bank account, usually within one business day.
Easy Crypto charges a spread on the exchange rate rather than a separate fee, so the price you see is the price you get. This makes it simple to calculate exactly how much NZD you will receive.
Option 2: Trading XPR on KuCoin
If you are holding XPR (the native token of XPR Network), you will need to use an exchange that lists it. KuCoin is one of the major exchanges where XPR is traded.
- Create a KuCoin account and complete verification.
- Deposit XPR from your WebAuth.com wallet to your KuCoin deposit address. Make sure you select the correct network when withdrawing from WebAuth.com.
- Trade XPR for USDT on the XPR/USDT trading pair.
- Withdraw USDT to an exchange that supports NZD withdrawals, or convert USDT to another asset that is supported by your preferred NZD off-ramp.
This extra step is necessary because KuCoin does not support direct NZD withdrawals.
Withdrawing to Your NZ Bank Account
Whichever route you take, the final step is getting NZD into your bank account. A few tips to keep in mind:
- Check the fees at each step. Exchange withdrawal fees, network fees, and conversion spreads all add up.
- Use a stablecoin as an intermediary (like USDT or USDC) to avoid price volatility while you move funds between platforms.
- Keep records for tax purposes. In New Zealand, crypto-to-fiat conversions are taxable events. The IRD expects you to report any gains, so keep a log of your buy and sell prices.
- Bank processing times vary. Most NZD deposits from crypto platforms arrive within one to two business days, but allow extra time if you are converting over a weekend or public holiday.
By combining XPR Network's feeless transfers with a reliable NZD off-ramp, you can move from crypto to cash with minimal friction.