Ethereum

Cryptocurrency

Online

Bitcoin

Nexo

Crypto gambling popularity is rising: according to statistics, around 25% of all online casino payments are made via Bitcoin and its alternatives. The trend couldn’t pass by New Zealand, where gambling is a widespread entertainment type. The activity is allowed within the country, but there are numerous peculiarities.&nbsp; 
While land-based casinos are fully legalised, online gaming clubs are completely banned. However, don’t hasten to be disappointed, as only NZ-based platforms are restricted. Offshore operators are allowed to enter the country’s market, so risk fans can engage in online gambling.&nbsp; 
Using cryptocurrencies allows quick, smooth transactions and often implies additional casino bonuses. It’s time to learn everything about crypto gambling in New Zealand! 
<h2 id="span-style-font-weight-400-is-it-legal-to-use-cryptocurrency-in-online-casinos-span">Is It Legal to Use Cryptocurrency in Online Casinos?</h2> 
The <a href="https://www.legislation.govt.nz/act/public/2003/0051/latest/DLM207497.html">Gambling Act 2003</a> is the primary document regulating the NZ casino industry. Therefore, all market players must comply with it. According to the Act, local online casinos are not allowed, though there is no law forbidding foreign operators to work within the country. In addition, the Act doesn’t contain any bans on cryptocurrency usage.&nbsp; 
Kiwi players can use Bitcoin and other tokens for gambling at <a href="https://casinodeps.co.nz/">New Zealand online casinos</a> with various bonuses and game options. Users gladly take advantage of this opportunity, as it holds numerous benefits. 
<h2 id="span-style-font-weight-400-benefits-of-using-crypto-payments-for-gambling-span">Benefits of Using Crypto Payments for Gambling</h2> 
<img decoding="async" loading="lazy" class="alignnone wp-image-45806" src="https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/xsdf-300x169.png" alt="" width="746" height="420" srcset="https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/xsdf-300x169.png 300w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/xsdf-768x433.png 768w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/xsdf.png 945w" sizes="(max-width: 746px) 100vw, 746px"> 
The blockchain is a controversial technology: while some people believe digital payments are the future, others are confident that <a href="https://walletinvestor.com/magazine/bitcoin-explained">Bitcoin</a> will lose its popularity and humanity will return to fiat payments. Regardless of how the situation developed in the following years, it is impossible to deny that cryptocurrencies are in great demand in 2023.&nbsp; 
The popularity of crypto is not likely to decrease soon. Many casino fans enjoy the possibility of using this payment system on their chosen gaming platforms. Are you still unaware of all the advantages it hides? Then, have a look at these points:&nbsp; 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Global accessibility of the payment option.</li> 
 <li style="font-weight: 400;" aria-level="1">Possibility to proceed with instant transactions.</li> 
 <li style="font-weight: 400;" aria-level="1">Full anonymity for casino players.</li> 
 <li style="font-weight: 400;" aria-level="1">No or low transaction fees for deposits and withdrawals.</li> 
 <li style="font-weight: 400;" aria-level="1">Additional bonuses for crypto users.&nbsp;</li> 
</ul> 
Users often consider Bitcoin the only payment option, but NZ online casinos offer a broader range of cryptocurrencies. The most popular ones include Ethereum, Dogecoin, Litecoin, Litecoin, and many others. The choice depends on the gambling platform, so remember to check the available options before joining the casino. 
Many say that high volatility is the worst disadvantage of cryptocurrencies. We cannot but agree with this statement: <a href="https://walletinvestor.com/crypto-market">the situation on the market changes quickly</a>, which significantly influences people’s assets.&nbsp; 
On the other hand, it hardly stops users from investing in Bitcoin, Ethereum, and other tokens. Moreover, online casinos hold risks, and crypto usage is only a part of them.&nbsp; 
<h2 id="span-style-font-weight-400-legal-aspects-of-buying-cryptocurrency-in-new-zealand-span">Legal Aspects of Buying Cryptocurrency in New Zealand</h2> 
Players desiring to engage in the crypto casino world often wonder whether buying Bitcoin is legal in the country. The good news is that New Zealand laws do not prohibit the usage of a decentralised financial system. 
However, as well as in many other regions globally, cryptocurrencies are not fully regulated by the government. However, it’s important to remember that appropriate <a href="https://www.ird.govt.nz/cryptoassets/taxing">taxation of crypto asset income</a> is still implemented. The tax percentage varies depending on the person’s profits.&nbsp; 
It’s required to pay from 10.5% to 39% – the final sum is counted according to your yearly income. The tax percentage is significant, which doesn’t prevent Kiwis from providing financial transactions via Bitcoin and its alternatives. 
<h2 id="span-style-font-weight-400-top-crypto-wallets-for-gambling-span">Top Crypto Wallets for Gambling</h2> 
<img decoding="async" loading="lazy" class="alignnone wp-image-45807" src="https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/bfgfd-300x169.png" alt="" width="737" height="415" srcset="https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/bfgfd-300x169.png 300w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/bfgfd-768x433.png 768w, https://walletinvestor.com/magazinadmin/wp-content/uploads/2023/11/bfgfd.png 945w" sizes="(max-width: 737px) 100vw, 737px"> 
Choosing the right wallet to manage your crypto assets is essential. Suppose you want to replenish the gaming balance in an online casino via Bitcoin and Ethereum – how to do it quickly and with minimum transaction fees? Have a look at the best crypto wallets that will become loyal assistants for passionate gamblers:&nbsp; 
<ul> 
 <li style="font-weight: 400;" aria-level="1">BitBuy is a service that allows its users to transfer funds quickly and securely. Users can enjoy trading with maximum benefits and depositing in the chosen online casinos.</li> 
 <li style="font-weight: 400;" aria-level="1">Nexo is a platform offering to manage fiat currencies and crypto conveniently. It also provides Bitcoin loans for trading and other purposes</li> 
 <li style="font-weight: 400;" aria-level="1">Blockstream Green is a wallet popular in New Zealand and beyond. It has a user-friendly interface and allows users to proceed with instant money transfers and track all their expenses.</li> 
 <li style="font-weight: 400;" aria-level="1">BRD Wallet is the top solution for mobile users, making it easy to manage your crypto assets from a smartphone. It doesn’t require registration, which simplifies transactions.</li> 
 <li style="font-weight: 400;" aria-level="1">Electrum Bitcoin is a well-known system to keep your funds safe and proceed with instant money transfers. It has a decentralised service, so bugs and failures are excluded.</li> 
</ul> 
It’s worth noting that all the crypto-wallets mentioned above are secure and reliable. Gamblers can choose any service they like and enjoy their favourite casinos without obstacles. Secure and fast transactions are exactly what players anticipate from their experience on online gaming websites. Anonymity is an additional benefit for many, as not everyone wants to share lots of personal details. 
<h2 id="span-style-font-weight-400-final-insight-span">Final Insight</h2> 
Crypto gambling is gaining popularity globally, and New Zealand hasn’t become an exception. Gambling with cryptocurrency in New Zealand is not prohibited according to legal regulations. Luckily, the country’s legislation doesn’t restrict the usage of blockchain technology. The government does not fully control the industry, but profits from crypto are still taxable.&nbsp; 
However, this fact doesn’t prevent passionate gamblers from using cryptocurrencies on their chosen casino platforms. The industry is rapidly developing, so Kiwis will see further advancements in the crypto industry. 
&nbsp;

New Zealand’s Cryptocurrency Online Gambling Regulations

Table of Contents

WalletInvestor

Other articles published on Nov 16, 2023

3 Successful Ways To Trade Crypto

How Can You Make Passive Income with Cryptocurrency? TOP 9 Proven Ways

Dogecoin Community Rejoices as DOGE’s Journey to the Moon Set for December 23rd

Why is PIVX Coin Pumping? Here Are Reasons Behind the 160% Pump

KISA to establish blockchain trust framework for public services

NightShade, a New Tool Empowering Artists to Fight AI Scraping

Join our free newsletter for daily crypto updates!