How to Buy Bitcoin with Vimba

By now most people you ask will have heard of Bitcoin. It’s mentioned on the 6 o’clock news, debated about near every office coffee machine and is talked about all over the internet. However with so much information and exposure to Bitcoin many people in NZ and the UK still ask the question, How do I buy Bitcoin?

Before we get started on how to buy Bitcoin it is a good idea to learn about what Bitcoin is if you are still very new to it. Quite simply Bitcoin is a decentralised digital currency that is powered by the Blockchain. The Bitcoin.org website has a great rundown of the technology and applications and the Coinmarketcap.com website will give you what the current price of Bitcoin is as well as a bunch of other Cryptocurrencies.

So now we know what Bitcoin is, how do we buy Bitcoin in New Zealand and the UK?

1. Setting up a Bitcoin wallet

The first step to buying Bitcoin is to set up a Bitcoin wallet. This is what you will use to store your Bitcoin upon purchase. We recommend using www.blockchain.info and we have a helpful video on our setting up page that takes you through the process.

It is important to understand that once that Bitcoin is in your wallet you have complete control over it. This means that the security of your Bitcoin is your responsibility too. You need to develop good Bitcoin security practices.

  • Keep your private key or seed phrase written down and somewhere safe
  • Never expose your private keys online
  • Protect your wallet access with a password
  • Never tell someone how much Bitcoin you own

2. Finding the right place to buy Bitcoin in New Zealand and the UK

There are now a few services that offer a place to buy Bitcoin in New Zealand and the UK. A few key things to look out for are if they are a registered financial provider and what fees they charge.

Vimba is a registered financial provider and we only charge a 3.5% fee on each transaction. The reason we can provide such a low fee is that we buy Bitcoin in bulk which basically means we get it at wholesale prices, we don’t buy single purchases of Bitcoin for each order like other Bitcoin services.

At Vimba we also make the process of buying Bitcoin effortless for you. More than half our user base are Bitcoin ‘first timers,’ this is because we do all the hard work for you.

3. Setting up with MyBitcoinSaver

Signing up with Vimba takes no time at all. You just need to register on the homepage and verify yourself with a Government issued i.d.

Once verified you will be given a unique reference number that you put in the reference field of your savings payments if you would like to buy small amounts of Bitcoin weekly.

After setting up a recurring payment that can go out weekly, fortnightly or monthly into a bank account we provide, you just need to you then just need to sit back, relax and watch your Bitcoin savings grow. We buy Bitcoin at wholesale prices and send it to your Bitcoin wallet on Fridays.

Or you can buy Bitcoin instantly through the buy/sell tab on your account page.

So if you are searching for where to buy Bitcoin in New Zealand and the UK you have found the right place with Vimba.

If you have any further questions about our service or you need some help in setting up please don’t hesitate to contact us at support@vimba.co Happy Bitcoin Saving!


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