If you own Bitcoin in New Zealand and it sits on an exchange, you don’t fully control it: the exchange does. A cold wallet you hold yourself, like the Tangem 3-card crypto wallet from NZ$137, keeps your keys in your hands, not someone else’s.
Exchanges can pause withdrawals, get hacked, or go offline, and when that happens your balance can still show on screen while you can’t move a single coin. It has happened to exchanges around the world, and New Zealanders are not immune.
There are other risks too. Scammers target Kiwis with fake support calls, copycat apps and requests for your seed phrase. No real company will ever ask for it.
A cold wallet doesn’t remove every risk. You still need to keep your backup cards safe and never share your recovery details. But it does remove the biggest one: trusting a third party with your Bitcoin.
Quantum Crypto is a Christchurch business and a Tangem co-branding partner, buying direct from Tangem and shipping from New Zealand.