Invest Your First $100 In Bitcoin

This is not financial advice. The writer is not your financial advisor. Investing contains risk and you can lose money. Consult your own professionals before making investment decisions. This article may contain affiliate links. 

Why Bitcoin?

Bitcoin is a digital currency.

Since its inception in 2008, Bitcoin has been the best performing asset class in the world, growing over 10,000% from 1 cent per coin to the current price today:

Bitcoin is a powerful asset to have in your investment portfolio because:

  • It hedges against inflation
  • It is a global currency
  • It is not tied to any one country or government
  • Fixed supply makes it scarce
  • It cannot be "printed"
  • Can be transferred anywhere or to anyone within seconds

The aim of this guide is to help you diversify your investment portfolio into Bitcoin.

I will walk you through the process of safely buying your first $100 of Bitcoin with NZD (the same process works for Australia/AUD).

Finding A Broker

To buy Bitcoin, you will need a broker.

A broker is a middleman who will source cryptocurrency on your behalf and deliver it to you. 

This is similar to how a sharebroker interacts with the sharemarket on your behalf and purchases stocks for you.

The brokerage I currently use and recommend for NZD crypto purchases is Swyftx.

They are an Australian/NZ company regulated by AUSTRAC and are fully licensed to operate in

You can set up a free Swyftx account here.

You will need your driver's license to verify your ID.

Depositing Funds

To buy some Bitcoin, you'll need to deposit some money.

Just head to the blue "Transfer Funds" button in the top right.

You'll be given deposit details and it's as easy as making a simple bank transfer online.

Placing An Order

Once your account is set up and verified and you've made a deposit, you can place your first order!

For this example I will be purchasing $100 NZD in Bitcoin.

Just head to the Swyftx homepage and find the Buy window on the right hand side.

Punch in $100 NZD to Bitcoin like so:

When you’re ready, click the Review button.

This will lock in your rate and show you exactly how much Bitcoin you'll be getting:

If everything looks correct, you can place the order.

That’s it!

You're now the proud owner of Bitcoin.

Moving To A Private Wallet

Swyftx is a cryptocurrency exchange.

This means they hold your Bitcoin on your behalf.

Should anything happen to Swyftx, you do not have the same protections as assets on the sharemarket. Your crypto will likely be gone.

This is exactly what happened in big exchange failures overseas, like FTX and Celsius.

As you accumulate more crypto assets, you will want to move away from exchange storage and start using private wallets.

A private wallet is more complicated but is definitely the more secure way to store your Bitcoin, if you know what you're doing (and that's a big if!)

Once you're ready to start using a private wallet, you can read my guide here.

Invest Regularly

While Bitcoin has trended upwards strongly over the past decade, it remains a very volatile asset.

You can help smooth out this volatility in your portfolio by investing regularly.

For example, rather than investing $1,000 at once, you could invest $100 a week over 10 weeks.

Based on historical trends, this should serve you well over the long term.

Congratulations for adding Bitcoin to your portfolio!

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