How it Works
Here at bitNZ you can buy Bitcoins (trade NZD for BTC) or sell Bitcoins (trade BTC for NZD). For any trade to take place your bid (buy) or ask (sell) price must match an order placed by another user. Your order will be in the order book until a matching order is placed or you cancel it. If matching orders are at differing quantities a partial order will occur.
Depositing and Withdrawing NZD Currency
Depositing currency into your bitNZ account can be done with cash at a bank or online by making a direct deposit into the bitNZ bank account. Both deposit methods need to have the particulars specifying your account details (see the deposit NZD page). To withdraw currency simply specify your New Zealand bank account number (see the withdraw NZD page).
Note that before gaining access to deposit funds online (direct deposit) you will need to perform a verifcation step (providing photo id and proof of address) and have a minimum of 500 NZD in your deposit history and finally a minimum of 14 days trading/deposit history.
Depositing and Withdrawing Bitcoins
You can deposit Bitcoins to the Bitcoin address created for your account (see the deposit BTC page). Withdrawing bitcoins requires you to add an entry into your address book. Each entry requires activation by your email and an administrator. Once activated your address entry can be used to withdraw bitcoins (see the withdraw BTC page). You can also specify a default withdrawal address when creating your account which does not need to pass the activation process before it can be used.
To pay for bitNZ development and overheads a small commission is charged on each trade (see fees for all the details).