Cost-of-living pressures drives Kiwis to crypto

Around one in five Kiwis have been targeted by an investment scam, according to Financial Markets Authority (FMA).

Rising living costs in Aotearoa are driving interest in cryptocurrency, but experts warn scams could leave people out of pocket.

Household expenses are climbing faster than incomes, making it difficult for people to keep up with rent, groceries and bills.

Stats NZ says the average household living costs increased 2.2 per cent in the year ending December 2025. says average household living costs increased 2.2 per cent in the year ending December 2025.

Financial pressures are coinciding with growing interest in cryptocurrency, which some see as a means to make money without going through banks.

Inland Revenue have identified that 227,000 New Zealanders are using crypto.

Crypto Consulting New Zealand chief executive and journalist Harry Satoshi urges young investors chasing quick profits to consider whether crypto offers more control over their money or is simply a risky gamble.

“Crypto is a notorious place for scams”

“The majority of people in cryptocurrency in New Zealand are in it for the investment side of it,” he says.

Satoshi says younger people may feel more comfortable with crypto because they have grown up buying and using digital currencies in games and online spaces.

AUT’s Investment Club co-president Nicole Tweeddale says many students are curious about crypto because it lets them invest directly without going through traditional banks.

“People want fast-paced returns, not really looking at long-term investing because it feels so far away,” she says.

She says crypto is not promoted in the investment club.

“We can have conversations around it but we’re never saying, ‘invest in crypto.’”

The FMA say that crypto makes it easier for scammers to hide their activities, putting inexperienced investors at high risk.

Netsafe advises people targeted by investment scams to stop communication, report it, contact their bank and seek support.

Inland Revenue also warns people earning from crypto to consider their tax obligations and declare any taxable income.

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Our journalists sometimes use AI tools which are checked by humans for accuracy.

AI was used to transcribe audio from the interview.