7 Best Crypto Exchanges In NZ For 2023
There are several crypto exchanges to use for buying digital assets. It can be a difficult task for beginners to find an exchange that's the right fit. We have reviewed over 100 crypto platforms to find the best crypto exchanges in New Zealand to help you make an informed decision. Our methodology included creating an account, depositing funds, and buying crypto to experience the full features of each crypto exchange.
Best Crypto Exchange NZ For 2022
Based on our reviews, these are the best cryptocurrency exchanges for NZ:
- Swyftx (best crypto exchange for NZ overall)
- Binance (regulated exchange for trading altcoins)
- ByBit (best crypto platform in NZ for futures trading)
- Digital Surge (suitable NZ crypto exchange for beginners)
- Easy Crypto (best non-custodial crypto exchange)
- Coinbase (good option for debit card purchases)
- Independent Reserve (best for NZD deposits)
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Top Cryptocurrency Exchanges NZ: Reviewed
1. Swyftx - Best Overall Crypto Platform In NZ
Swyftx is a popular cryptocurrency exchange in NZ with over 600,000 registered users and growing. The platform provides a safe and reliable place for individuals in New Zealand to buy, sell and swap more than 320 digital currencies. The desktop website and mobile app have been modernized for beginners and experienced crypto investors alike. As a welcome bonus, Swyftx has a $20 Bitcoin referral bonus for those that create an account and complete the account verification process. The promotion is available for users who sign-up using our link.
The onboarding process is simple and is undoubtedly one of the best ways to buy Bitcoin or other cryptocurrencies using NZD. There is a wide variety of methods to transfer funds to an exchange account. Customers can rapidly deposit up to $50,000 worth of NZ using a bank transfer, OSKO, POLi payment and PayID through a bank account. There are zero fees to deposit and withdraw NZD to a bank account.
Swyftx is our best option to trade top exchange due to its variety of crypto features that make the overall buying and selling process a breeze. Moreover, there are rapid deposits and withdrawals, portfolio tracking, recurring orders, low transaction fees, demo mode and price alerts. There are even tax reporting tools to simplify crypto tax requirements in NZ and dollar-cost averaging tools to build a portfolio automatically. The exchange has also introduced Swyftx Earn which allows its users to store funds within a secure wallet for staking to earn passive rewards. The funds are not locked in and can be withdrawn at any time.
The trading experience is modern, fresh and fully customizable that can be tailored to suit each investor to monitor their portfolio and place traders. There is also the ability to toggle dark mode on the desktop and mobile application plus a demo account to trade digital currencies risk-free.
As for the trading fees, Swyftx has a competitive fee structure for buying and selling crypto. The fee is a flat 0.6% per transaction in addition to a spread. This is where Swyftx is superior to other exchanges in New Zealand. The average spread is 1.7%. Compared to an industry average spread of 4%, the overall fees are one of the cheapest in NZ. very reasonable. Combined with its beginner-friendly mobile app, a wide range of supported coins and NZD payment options, and a variety of features, Swyftx is the best exchange overall in New Zealand.
- $20 Welcome bonus and rapid ID verification
- Deposit NZD using a bank transfer, PayID, POLi and credit/debit card
- Competitive 0.6% trading fees and small spreads on major pairs
- Excellent trading experience and mobile app
- Responsive customer support and feedback
- Can take a while for users to get used to
- Does not offer margin, derivatives or Futures markets
2. Binance - Regulated Crypto Exchange In New Zealand
Binance is the largest crypto trading platform with more than 600 digital assets and 1,664 trading pairs. The popular platform for trading crypto has seen a meteoric rise since being founded in 2017 to become one of the most widely used and top altcoin platforms that are demonstrated by having the highest trading volume in the world at the time of writing.
Binance is a regulated crypto exchange in NZ that has obtained approval from the Ministry of Business, Innovation with the Government. Therefore, Binance is allowed to operate in NZ as a licensed financial provider for local crypto customers to buy, trade and sell digital currencies using New Zealand Dollars. The available payment options for NZ residents include credit/debit card, cash balance or through a third-party Simplex.
The benefit of buying crypto with Binance is the wide range of financial services that can be used after purchase. Binance Earn allows users to securely store their assets on the exchange to earn passive income. Generous yields can be earned through staking or mining pools, and saving accounts to earn interest on crypto or liquidity mining. For example, New Zealanders can deposit or purchase crypto directly on the exchange and earn up to 5% APY on Bitcoin, 5.2% APY on Ethereum and 13.47% APY on Solana.
Earning interest on Binance Earn.Binance makes our pick for the top exchanges for crypto in NZ is the low fees. To buy and sell crypto, the fees are between 0% and 0.1% which is one of the cheapest rates compared to other exchanges. The trading fee can be further reduced by 25% for staking the platform's native BNB token or increasing the trading volume over a 30-day period. Moreover, the exchange has removed fees on a selection of BTC trading pairs. The zero fee crypto feature is ideal for Bitcoin investors and traders alike within NZ.
While the selection of NZD deposit options is quite limited, the wide range of coins to purchase and low fees make Binance one of the best cryptocurrency platforms in NZ. Moreover, the Binance App is second to none in terms of advanced trading, monitoring a crypto portfolio, and placing trades. Lastly, new customers can get $50 in free rewards when they sign up using a Binance referral code.
- Legal crypto exchange in NZ with regulatory approval from New Zealand Government
- Competitive 0.1% trading fee, volume and staking discounts and low slippage
- Advanced charting and trading platform on desktop and mobile devices
- All-in-one platform with a broad range of products and services
- Peer to peer exchange that accepts NZD
- Difficult to navigate for first-time investors and traders
- Complicated to use for individuals that just want to buy and hold crypto
- Limited options for NZD deposits and withdrawals
3. ByBit - Best Crypto Futures Trading Platform In NZ
ByBit makes this list of the best crypto platforms for its leveraged markets. The platform is purpose-designed to cater to experienced and professional traders that want to buy crypto on the spot market and then speculate with up to 100x leverage. While ByBit is not suitable for crypto beginners in New Zealand, it is undoubtedly one of the best margin platforms to use.
https://bybit.comCrypto traders in New Zealand can get started with ByBit without completing KYC. It is not mandatory to submit any personal ID documentation to start trading. However, there is a withdrawal restriction of 2 Bitcoin per day for unverified accounts, making it a popular crypto exchange without KYC. Residents that do want to purchase crypto with NZD on ByBit will need to complete the ID verification process.
One of the best aspects of ByBit is the range of markets to trade. These include spot, margin, leveraged tokens, derivatives, options, copy-trading, and a P2P platform. As for the trading experience, ByBit is second to none. It has an advanced trading platform with TradingView charts that offers hundreds of built-in indicators and drawing tools. Unlike other crypto exchanges, users on ByBit can set take profit/loss orders directly by right-clicking the charts which is an excellent feature.
When it comes to fees, ByBit has low transaction costs which start at 0.06% (maker) and 0.01% (taker) on the futures markets. For buying crypto on the spot market, the fees are also very competitive at 0.1% which is cheaper than Swyftx. However, the downside with ByBit is the inability to fund an account directly with NZD. A third-party processor can only be used which has high fees. Moreover, users will not be able to cash out to a bank in NZ.
- One of the most liquid crypto derivatives markets
- Variety of markets including spot, perpetuals and Futures
- Advanced trading terminal for crypto traders in New Zealand
- Low fees for spot and derivatives markets
- May be too complicated for first time crypto investors
- Does not have a NZD fiat onramp. Must use a third party service provider
4. Digital Surge - Best NZ Exchange For Beginners
Digital Surge is an exchange that has over 300 cryptocurrencies that can be bought and sold on a modern and sophisticated platform. Designed for ease of use and beginners, Digital Surge is an excellent crypto exchange to get started with digital assets for beginners and intermediate investors in New Zealand.
The exchange caters to NZ residents and allows an account to be funded with AUD funds using ANZ Bank via PayID and POLI payments. While there is no direct NZD option available, the simplicity of the exchange is the reason for its inclusion in this list of the best exchanges for New Zealand. Moreover, there is a Digital Surge referral code that credits new customers with a $20 Bitcoin bonus.
Compared to Swyftx which can be a little overwhelming for first-time crypto investors with its abundance of features, Digital Surge has a sleek, modern and elegant user interface. There is a simple portfolio viewer to show the overall investment performance on desktop or mobile devices. This is a strength of the Digital Surge platform as its ease of use makes
Digital Surge's advantage compared to alternate exchanges lies in its trading fees. The trading fee of 0.5% is very competitive with spreads as low as 0.4% per transaction. There are no fiat currency deposit or withdrawal fees which can be processed near-immediately. This means investors can obtain more crypto with the same amount of NZD by paying fewer fees.
- Modern and intuitive design that will appeals to investors of all experience levels
- Low fee exchange available in New Zealand with small spreads
- Highly responsive customer support team
- Highly responsive customer service team
- No credit/debit card support to deposit NZ
- Does not offer cryptocurrency staking services
5. Easy Crypto - Best Non-Custodial Crypto Platform
Easy Crypto is a wholly-owned and operated crypto exchange in New Zealand that provides an online service for Kiwis to buy and sell cryptocurrency. The exchange provides a quick and easy way to convert NZD to Bitcoin or other crypto-assets. The exchange has been designed for beginners to get involved with cryptocurrencies with its modern, easy-to-use and simple platform. Some of the top features include dollar-cost-averaging, crypto swaps, guaranteed orders and NZD deposit methods.
https://easycrypto.com/The benefit of Easy Crypto is the support for local deposit methods to fund an account directly with New Zealand dollars. While other exchanges only support AUD deposits through an Australian bank, Easy Crypto allows Account2Account, POLi Pay and bank transfers. These methods of funding an account with NZD can be performed through supported banks such as ANZ, ASB, BNZ, KiwiBank and Westpac.
Easy Crypto is one of the safest crypto exchanges in New Zealand due to the non-custodial nature of the platform. This means that the website does not store any customer assets. For example, when buying Ethereum on the exchange, the ETH is sent directly to a nominated software or hardware wallet. This is advantageous for security reasons as it eliminates the potential for the funds to be lost in an exchange hack. The downside is that there are limited products and services offered by Easy Crypto. For instance, there is no staking, lending and borrowing, advanced trading and liquidity farming as a result.
When it comes to fees, Easy Crypto uses a spread system. As the platform is not a typical crypto exchange account with an order book, it is essentially a broker that offers crypto with a premium on top. This means the spot price can be higher compared to exchanges, in addition to a spread fee. For example, the price to buy Bitcoin is $29,785 on Binance compared to $30,335 on Easy Crypto. Moreover, the exchange has recently increased the default trading fee from 1% per order to a trading fee of 1.35% which is above the market.
- Purchased crypto is sent directly to customers crypto wallet
- Simple and effective user interface for beginners
- Good selection of more than 150 crypto assets
- Local customer support team in New Zealand
- The trading fee has increased from 1% to 1.35% which is expensive
- Does not have features such as staking, margin trading, lending or savings accounts
- Not suitable for experienced investors and crypto traders
- Does not have a mobile app
6. Coinbase - Good Option For Buying Crypto With Debit Card
Coinbase is the most used and widely regarded as the best crypto exchange in the world for beginners. For residents in New Zealand, the exchange is available to buy, trade and sell cryptocurrency using a bank account transfer, credit or debit card. Coinbase offers a secure wallet to store your newly purchased cryptocurrencies so you can buy and sell popular digital currencies and keep track of them all in one place.
Coinbase makes this list of the best crypto exchanges for its simplicity and is designed for beginners to get started with digital coins such as Bitcoin and Ethereum. The sign-up, verification and link to payment process take only a few minutes to complete. Customers can then use a highly intuitive and elegant user interface on the online website. Moreover, Coinbase offers one of the best apps for crypto on Android and iOS devices.
Coinbase supports 46 digital coins on its platform to buy, trade and sell. In comparison to other platforms above, the number of available assets is quite limited. Users on the Coinbase platform can trade well-known coins such as BTC, ETH, ATOM, XRP, LTC, BCH, DAI, EOS, LINK, XLM and others.
A great feature of Coinbase is the learning section to educate on blockchain projects offered by the platform such as BAND, MKR, COMP, XLM, ALGO, XTZ, DAI and others. Customers that complete the short quiz at the end of each module receive free crypto. Coinbase is also one of the safest cryptocurrency exchanges with no reported hacks or compromises of the security systems and wallets resulting in any loss of funds due to criminal activity.
A major drawback of Coinbase is the fees. The starting fee for buy and sell orders is 0.5% and gradually reduces thereafter with higher trading volumes. Compared to its competitors in the industry, the fee is quite expensive for beginners and low-volume traders and are good alternatives to Coinbase with lower fees.
- Highly regarded and safe international crypto exchange
- Platform and mobile app are very easy to use for beginners
- Educational section with excellent resources for investors
- Supports debit card purchases for New Zealand customers
- Industry-leading security measures to keep funds safe
- Trading fees are higher compared to other exchanges
- Fees are quite complicated to understand
- Deposit methods are limited to debit card only in NZ
- Customer service wait times are excessive
7. Independent Reserve - Best For NZD Deposit Methods
Independent Reserve is a popular NZ cryptocurrency exchange for investors and traders with competitive fees and support for traditional fiat currencies. Users can fund an account directly with New Zealand Dollar (NZD) using SWIFT. Moreover, the exchange allows the buying and selling of 24 assets in total which include the major cryptocurrencies and popular DeFi tokens.
Since the exchange's launch in 2013, Independent Reserve has gained the trust of over 200,000 individuals and 8,000 SMSF accounts to obtain cryptocurrencies. The exchange is suited to high net-worth individuals and institutions that can obtain a buy crypto fee as low as 0.05% per trade. However, for most New Zealand investors the fees start at 0.5% which is still very competitive in the industry.
Independent Reserve is a great option for security. The exchange has an immaculate record for safety and has never been hacked or compromised. Customer funds are stored in offline wallets to minimize the risk of theft and accounts have a number of security measures available to them, including Two Factor Authentication to prevent fraudulent access. Independent Reserve also offers an insurance fund for premium members which is not offered by other exchanges in New Zealand.
Overall, Independent Reserve is one of the best exchanges in NZ for high-net worth investors that can access lower fees. The user interface is a little difficult to navigate which is a disadvantage.
- Fully compliant and AUSTRAC licenced exchange
- Trusted exchange by over 200,000 investors and 80,000 SMSF Accounts
- 0.5% trading fee that reduces with higher volume
- Reliable and straight forward user interface to instant buy/sell
- Exceptional 24/7 live support and tax tools and integrations
- Lack of advanced trading tools and features for serious traders
- Supported coins is quite limited compared to others
- Does not support staking, earning interest on crypto or popular DeFi tokens
Crypto Exchanges In NZ Compared
This comparison guide provides an overview of the top cryptocurrency exchanges in New Zealand to buy, trade, store and sell Bitcoin and other altcoins.
| Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
|---|---|---|---|---|---|---|
 Swyftx | 320+ | 0.6% | Rating | $20 Bitcoin for creating a verified account | Visit Swyftx | Swyftx Review |
 Binance | 600+ | 0.1% | Rating | Up to $100 welcome bonus | Visit Binance | Binance Review |
 Bybit | 81 | 0.06% / 0.01% (leverage), 0.1% (spot) | Rating | Deposit bonus up to $30,000 | Visit Bybit | Bybit Review |
 Digital Surge | 300+ | 0.5% | Rating | $10 Bitcoin for creating a verified account | Visit Digital Surge | Digital Surge Review |
 Easy Crypto | 150+ | 1.35% | Rating | $10 bonus after first purchase | Visit Easy Crypto | Easy Crypto Review |
 Coinbase NZ | 250+ | 0.5% + 3.99% | Rating | None available at this time | Visit Coinbase NZ | Coinbase NZ Review |
 Independent Reserve | 26 | 0.5% | Rating | $10 BTC for creating a verified account | Visit Independen... | Independent Reserve Review |
Cryptocurrency Deposit Methods
When selecting a crypto exchange in NZ, it is important to ensure the platform supports your preferred deposit method. To convert NZD into BTC, the most common deposit methods are:
- Credit Card / Debit Card
- Bank account or bank transfer (EFT)
- Cash deposit
- PayPal
Using a credit/debit card to purchase Bitcoin on platforms such as Coinbase and Swyftx are the fastest ways to own the asset, however, incurs slightly higher fees. Bank account transfer is a reliable method that can take 1 to 3 days to complete the transaction.
Where To Store Crypto In NZ
The best way to store cryptocurrency assets such as Bitcoin, Ethereum and Litecoin is too use a reputable cryptocurrency wallet that is kept under the possession of the investor. Some of the most popular Bitcoin and cryptocurrency wallets are the Zengo Wallet, Ledger Nano X, TREZOR T and CoolWallet Pro.
Storing cryptocurrency using a New Zealand Bitcoin or cryptocurrency exchange is risky for several reasons. The most obvious vulnerability is the risk associated with online scams and hackers. As the security of the asset is left to the exchange, the investor has no control over the security of their investment.
For example, using a digital hardware wallet provides an airlock between internet-connected devices and the asset. The private keys give access rights to the cryptocurrency (send, transfer and receive) are kept in the wallet. Even if the hardware wallet is damaged, lost, or stolen funds can be recovered using several backup options.
Frequently Asked Questions
The best crypto exchange for New Zealanders is Swyftx. This is due to its customizable user interface, over 320 assets to invest in, and the ability to deposit up to NZD $50,000 via a bank transfer with no additional fees.
Yes, there are numerous cryptocurrency exchanges available in New Zealand for residents to open an account and begin trading. Binance is a top platform with more than 600 coins to trade, is 100% legal in NZ with a local office and has low fees between 0% and 0.1% for all buy and sell orders.
One of the best ways to buy crypto in New Zealand is by using a bank transfer. Exchanges such as Easy Crypto and Independent allow funding using a bank transfer, POLi Payments and Account2Account. It is the most popular and cost-effective method available with low fees, fast transaction time and higher daily limits.
Credit cards are commonly used to make purchases online, so it's no surprise that it's a popular method to buy crypto. Not all exchanges available in NZ provide this deposit method so residents will need to use a global crypto exchange such as Binance, Coinbase, Changelly and ChangeNOW. The fees are slightly higher than other payment methods.
Binance is a household name in the crypto industry that is highly regarded for its high standards when it comes to the safety and security of funds. New Zealand citizens can rest assured that their money is in good hands when it comes to trading on Binance. The exchange has also obtained regulatory approval from the NZ Government Ministry of Business, Innovation and Employment and has set up a local office.
Conclusion
To conclude our article on the best NZ cryptocurrency exchanges, the above exchanges are some of the best places to get started with crypto-assets based on trustworthiness, supported assets, deposit methods, safety, fees and customer support. For more information on how we rated and compared each cryptocurrency exchange, read our full exchange review methodology process.
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