Top 10 Best Crypto Exchanges in New Zealand

Choosing a trustworthy cryptocurrency platform is key. This is true when buying, selling, or trading cryptocurrency in New Zealand. Many options are available. Choosing the best one for your needs can be hard. I am David Wabinz, CEO of  DavidWabinz.com, I have tested the top cryptocurrency exchanges in New Zealand. I looked at factors like fees, features, security, and user experience. Having done this, I have made a list of the best cryptocurrency exchanges in New Zealand.

Is Crypto Legal in New Zealand?

Cryptocurrency indeed operates independently of government regulation or the traditional banking system. Blockchain technology makes it decentralized. It lets users do peer-to-peer transactions while staying anonymous. Traditional purchases work differently. Banks keep private records for them. But, cryptocurrency transactions are on a public ledger. This ensures transparency and security.

In New Zealand, cryptocurrencies are legal. But, they are not legal tender like the New Zealand Dollar. However, some New Zealand businesses do accept certain cryptocurrencies as payment. This is outlined in a list published by Easy Crypto. This adoption reflects the growing acceptance of cryptocurrencies in mainstream commerce. It is happening despite their distinct legal status.

Best Crypto Exchanges in New Zealand

1. MEXC: Leading no-KYC exchange based in New Zealand

Ranked first in the list of the best cryptocurrency exchanges is MEXC. It offers a wide range of attractive features and products. They are tailored to suit the diverse trading styles and risk appetites in the New Zealand market. Its zero-KYC approach may appeal to users who value privacy. The zero-fee structure, especially for spot trading, can be a big draw for cost-conscious traders.

Adding more trading options shows commitment. They range from spot and margin trading to futures and perpetual contracts. This demonstrates a commitment to providing a complete trading experience. Additionally, the addition of new products such as the NFT, DeFi, GameFi, and Metaverse areas shows awareness of new trends. It also shows a willingness to adapt to market changes.

Users receive lower fees based on their trading volume and MX token holdings. The VIP fee system rewards them. It gives active traders another reason to use the platform consistently.

However, users must be cautious. They must do thorough research before committing to any exchange. This is especially true if the exchange lacks KYC procedures. The lack of KYC may attract some users. However, it also raises concerns about rules and security.

2. Bitget: Best suited for copy trading within the New Zealand market

Bitget is a prominent platform such as MEXC. It serves the growing demand for cryptocurrency derivatives trading. It has a large user base in many countries, including New Zealand. Bitget uses extensive security measures. These include cold storage, multi-signature wallets, SSL encryption, and anti-DDoS protection. They prove Bitget's commitment to keeping user funds safe and the platform secure.

New Zealand traders have many deposit options with Bitget. This ensures easy access and convenience. You can buy Bitcoin directly with a debit or credit card. It supports both Visa and Mastercard. This makes it easier for beginners to use cryptocurrency.

Additionally, P2P deposits and withdrawals have no fees. They provide users with flexibility and less cost. Bitget partners with trusted organizations. They help users receive cryptocurrency from them. These include Mercuryo, Xanpool, and Banxa. This makes the platform accessible to more people.

Bitget offers many deposit methods. This shows its commitment to being user-friendly and accommodating. Traders have diverse interests. But, like any exchange, users should be careful and follow the best security and risk management practices. This is true when they trade on Bitget.

3. OKX: Recognized as the safest Bitcoin exchange operating in New Zealand

OKX emerges as a top cryptocurrency exchange in New Zealand. It secures the third-ranked position. It is in over 100 countries, including New Zealand. It has a multilingual interface, with English. This makes it easy to use for customers in the region.

OKX has a notable feature. It supports various New Zealand Dollar (NZD) payment methods. These include credit/debit cards and third-party wallets. Users can deposit funds from NZD accounts onto the OKX platform. The many payment options make this easy and free of hassles. They avoid significant delays or problems.

People praise the platform's simple interface. It is easy to use. It is for both new and experienced traders. It has many features. These include limit orders, advanced trading charts, staking, lending, and more. They give users the tools to trade.

Fees, OKX offers a competitive fee structure, with low trading fees set at 0.1% and zero deposit and withdrawal fees. Also, users can get discounts and rewards by holding OKB tokens. This also encourages them to use the platform and improves their trading experience.

4. Swyftx NZ: The best crypto exchange in New Zealand

Swyftx is a standout exchange for crypto investors in New Zealand. It offers a full set of features and services to meet their needs. One of its key strengths lies in its extensive asset support, boasting over 320 assets available for trading. Swyftx also has the distinction of being licensed and regulated for crypto trading in NZ. This builds trust among users.

The exchange is committed to security. This is clear from its ISO27001 certification for information security. It also uses advanced technology and security frameworks to protect users' assets and funds. These measures are crucial. They ensure a safe trading environment, especially in cryptocurrency.

Swyftx has competitive fees and spreads for crypto trading. It offers a tiered fee structure based on 30-day trading volume. This tiered approach ensures that both casual and high-volume traders can enjoy favorable fee rates. Additionally, the platform has zero fees for depositing and withdrawing NZD. This feature adds to its appeal among users.

The ease of depositing and withdrawing funds is another highlight of Swyftx. You can make fast NZD deposits through bank transfers or credit/debit cards. The deposit limit is small, just $80. The withdrawal limit is up to $10,000 per day. These limits provide users with flexibility and convenience.

But, note this: Swyftx requires users to do KYC 1 verification. They need it to deposit fiat or cryptocurrencies into their accounts. While this may entail a more step for users, it serves as a crucial measure for compliance and security purposes.

Overall, Swyftx is an excellent choice for crypto investors in New Zealand. It offers a strong platform, supports many assets, and has low fees. It is also committed to security and following regulations.

5. Binance: Ideal for high-volume traders in the region

Binance is a top cryptocurrency platform. It's known for being good for day trading. This is because it has high volume and liquidity. Binance supports over 350 coins and tokens.
It provides a wide range of trading choices. These cater to a wide range of investment preferences.

Binance has a notable feature for New Zealand users. It has a Peer-to-Peer (P2P) trading platform. It makes it easy to buy and sell crypto using NZD. This feature allows for smooth transactions with verified local users. It offers flexibility in payment methods, like prepaid cards, cash deposits, or e-wallets. And, it does this all without adding transaction fees.

Binance New Zealand has registered as a financial services provider (FSP) to follow regulations. It follows the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). This ensures a safe and compliant trading environment for users.

Moreover, Binance offers many educational resources. They are available through Binance Academy, a free online platform. It provides articles, videos, and quizzes on various crypto topics. This commitment to education enhances the user experience. It does so by empowering traders with the knowledge needed to navigate the complex world of cryptocurrency well.

In terms of fees, Binance charges a 0.1% trading fee for regular users. VIP users and those who use BNB, Binance's native token, can get lower fees. Also, the platform has no fees for crypto deposits. But, users may face network fees for the chosen crypto.

6. Bybit NZ: Optimal choice for leverage trading among New Zealand crypto exchanges

Bybit seems to be an inclusive cryptocurrency trading platform. It serves both new and experienced traders. It offers many things. These include spot, futures, options, and perpetual contracts. This suggests it can fit many trading strategies. The user base is over 20 million. Daily trading volumes top billion. This shows the platforms have lots of users and trading.

The platform can handle over 100,000 trades per second. This shows its strong and reliable infrastructure. These features are very appealing to New Zealand traders. They want efficient and secure ways to do crypto transactions.

Moreover, Bybit has innovative products. For example, its Saving programs offer up to 80% APY for careful investors. They also have trading competitions for more aggressive traders. These offerings show a commitment to serving diverse investor profiles.

But, New Zealand traders must research. They must do so before using any cryptocurrency exchange, including Bybit. They need to make sure it fits their investment goals and risk tolerance.

7. KuCoin: The best altcoin exchange preferred by NZ traders

KuCoin offers many services for cryptocurrency traders in New Zealand. It supports over 50 fiat currencies, including the New Zealand dollar (NZD). This makes it easy for Kiwi traders to access the platform. The wide selection has over 700 cryptocurrencies. It ensures that users have many choices for trading and investing.

Moreover, KuCoin offers many trading and investment products. These include spot and margin trading, bots, and copy trading. They cater to different trading styles. This is a plus for users who want versatility in their trading.

The focus on security is reassuring. The company has a dedicated security team and a proof of reserves system. This is especially important in an industry where security concerns are paramount. This feature helps users trust that their assets and accounts on the platform are safe.

The support for the New Zealand dollar (NZD) comes through many channels. These include the P2P market and credit/debit card fiat channels. This support is a big advantage for New Zealand-based traders. It makes buying cryptocurrencies with NZD easier. You can do it without extra conversions or transfers.

Lastly, the trading fee is 0.1% for maker/taker. It is competitive and matches industry standards. This makes KuCoin a low-cost option for traders. It is especially so when compared to other exchanges like Bybit and Binance.

In my view, KuCoin is a strong option for cryptocurrency trading in New Zealand. It offers both convenience and security, along with competitive fees.

8. Coinbase NZ: Best platform for crypto-to-crypto trading in New Zealand

Coinbase is a famous cryptocurrency exchange. It has gained popularity worldwide. It provides a variety of features and services for traders. Coinbase has a user-friendly interface. It also has robust security measures. Because of this, it has attracted many users.

But, for New Zealand customers, there are some limitations to consider. Unlike some other exchanges, Coinbase does not support trading crypto with the New Zealand dollar (NZD). This means users cannot deposit NZD into their Coinbase accounts. They cannot use it to buy cryptocurrencies. They also cannot use bank accounts, credit cards, or debit cards for transactions. Instead, users are limited to crypto-to-crypto trading on the platform.

Also, Coinbase offers a hosted non-custodial wallet for storing cryptocurrencies. But, it may not fully meet the needs of all users. This is especially true for those who prefer more control over their assets with self-custody solutions.

On the plus side, Coinbase provides access to many popular cryptocurrencies. These include Bitcoin, Ethereum, and Dogecoin, which can be traded on the platform. Additionally, Coinbase offers advanced trading tools. These include a crypto wallet app and an NFT marketplace. They cater to both traders and enthusiasts.

In my view, Coinbase has limitations for New Zealand customers. It does not support their fiat currency. But, it is a reputable exchange with a strong track record in the cryptocurrency industry. But, users in New Zealand should think carefully about their needs and preferences. They should do this before choosing Coinbase as their preferred trading platform.

9. Uphold: Top choice for debit card purchases among New Zealanders

Uphold is a global platform. It offers many trading options for users in New Zealand and beyond. It operates in over 184 countries, including New Zealand. Uphold lets you trade in 27 national currencies and 4 precious metals. It also offers over 260 cryptocurrencies. These include popular ones like BTC, ETH, and XRP, plus lesser-known ones like XDC, DAG, ADS, CSPR, and QNT.

Uphold prioritizes compliance with regulations. This is clear from its adherence to the rules of FinCEN (US), FCA (UK), and FCIS (Lithuania). Uphold's compliance instills confidence in users. They trust the platform's legitimacy and security.

The platform shows assets and debts in real-time. It is also committed to high-security standards. This commitment improves the user experience. It does so by being clear and giving peace of mind.

Uphold has a user-friendly interface. It works with web browsers, iOS, and Android. This ensures that traders on many platforms can access it. Additionally, Uphold offers features like regular transactions and limit orders. It also has the innovative Anything-to-Anything trading experience. This lets users easily exchange one asset for another on the platform. This rare feature empowers users. It lets them diversify their portfolios and explore trading opportunities. They can do so across different types of assets with ease.

In my view, Uphold is a compelling option for cryptocurrency traders in New Zealand. It offers a strong platform, diverse assets, and unique trading features. It also meets the evolving needs of its users while following regulations.

10. Digital Surge: The go-to app for purchasing Bitcoin in New Zealand

Digital Surge emerges as a top choice for cryptocurrency trading. It has expanded its services from Australia to New Zealand. The platform puts user assets and data first. It does this with a set of strong security measures. These include cold storage, encryption, two-factor authentication (2FA), and anti-money laundering (AML) policies. It is registered with AUSTRAC. It follows relevant rules in Australia and New Zealand. This underscores its commitment to following the rules and protecting users.

Fees, Digital Surge imposes a 0.5% charge for buying or selling cryptocurrencies. This rate is competitive in the industry. Notably, users enjoy free fees for NZD and AUD deposits. They are also free for withdrawals and transfers to other Digital Surge users. This makes transactions on the platform cost-effective. Also, Digital Surge offers many payment methods. These include bank transfers, POLi, PayID, and Osko. They cater to diverse user preferences. Additionally, buying with a credit or debit card incurs a 3.5% fee. But, it provides an easy option for users who want convenience.

It supports over 320 cryptocurrencies. These include popular options like Bitcoin, Ethereum, Litecoin, Ripple, Cardano, Polkadot, and Dogecoin. Digital Surge offers many trading opportunities. The instant exchange feature makes transitions fast. It lets users switch between different coins. This lets them profit from market changes.

I see Digital Surge as a great choice for cryptocurrency traders in New Zealand. It has strong security, low fees, many payment methods, and a wide range of assets to trade.

How to choose the best crypto exchanges in New Zealand

When selecting a trading platform in New Zealand, it's advisable to focus on these key factors:

Security

When picking a cryptocurrency exchange, rank security. It will safeguard your funds and personal data from cyber threats.

Look for a platform with strong encryption. It should also have two-factor authentication and cold storage. These features will fortify defenses against unauthorized access and theft. Anti-money laundering policies ensure compliance with regulations, adding an extra layer of protection.

Also, review the exchange's track record. Look into past hacks, breaches, and customer complaints. This insight offers valuable perspective. It shows how well the exchange has managed and fixed security issues in the past. It will help you decide if you should trust the platform with your assets.

Regulation

Regulation is about the legal status and oversight of a cryptocurrency exchange. It is within a specific jurisdiction. A regulated exchange must follow laws and rules. These cover licensing, reporting, taxation, and consumer protection. If the exchange you're considering isn't regulated in New Zealand, you should look at other options. Generally, the higher the level of regulation, the greater the safety of your funds.

Regulated exchanges provide better security, transparency, and legitimacy. They are compared to unregulated ones. But, rules can limit some crypto services. They limit availability, access, and innovation.

Fees

Fees cover the costs of using a cryptocurrency exchange. They include trading, deposit, withdrawal, and other fees. The charges fluctuate based on the exchange. They depend on the type of transaction and payment method used.

You should compare the fees from different exchanges. Select the option that aligns most closely with your requirements. Also, it's essential to stay vigilant for any hidden fees or extra charges. They might apply.

Payment methods

Payment methods are for depositing or withdrawing fiat currency or cryptocurrencies. They are used on a cryptocurrency exchange. People commonly use bank transfers, credit cards, and debit cards for payments. They also use PayPal, Skrill, Neteller, and Payoneer.

If you're considering a crypto exchange without a fiat on-ramp, you'll need to use another exchange or payment provider. For example, you could use MoonPay. You'll use them for conducting crypto-to-crypto trades. This ensures you have the tools for trading cryptocurrencies. You'll have them. Even if the platform you choose doesn't support fiat transactions.

Customer Support

Customer support is how well a cryptocurrency exchange's team handles customer inquiries. This includes problems or complaints. 

An exchange needs a dedicated support team. They should be competent. They should be available through different channels. These include email, phone, chat, and social media. Also, it's good to review the exchange's FAQ, help center, or blog. They have useful resources and guidance. 

Good customer support can improve the user experience. It also helps when needed.

Buying Bitcoin and cryptocurrencies in New Zealand

1. Begin by creating an account with a trusted exchange.

In New Zealand, you can choose one of the 10 reputable exchanges I listed. The most popular are MEXC and Bitget. Both platforms are easy for beginners. They offer many deposit methods and many cryptocurrencies. Take time to compare fees, security, payments, and other features. Do this by exploring the “info” tab on each exchange to find the one that works best for you. Remember, you can always sign up for more exchanges later if needed.

2. Proceed to complete the KYC verification process.

After signing up, you'll need to verify your identity and address. This is part of the required Know Your Customer (KYC) process. Have your photo ID ready to take pictures of both sides. Verification is usually instant but may sometimes take up to 1-2 days.

3. Start a fiat deposit to fund your account.

To start buying Bitcoin and other cryptocurrencies, link a bank account or credit card to the exchange. Binance and Kraken offer payment methods. They include credit/debit cards, bank transfers (SEPA), and SWIFT. The time depends on the method chosen. Funds may arrive within minutes or take days.

4. Buy your chosen cryptocurrency.

Once your account is funded, you can buy your desired amount of Bitcoin or any other cryptocurrency. Many exchanges allow you to buy small amounts, starting from just a few dollars.

5. Transfer your cryptocurrency to a personal wallet for added security.

After buying Bitcoin or another cryptocurrency, move it to your own secure wallet. Leaving coins on an exchange exposes them to security risks. Exchanges are often targeted by hackers. Storing your assets in a personal hardware wallet reduces this risk. It also gives you more control over your funds.

Requirements to buy cryptocurrency in New Zealand

Before making a purchase, there are a few essential things you should have ready:

• You need a valid form of identification. This could be a passport, national identity card, or driver’s license. You need it for the Know Your Customer (KYC) process.
• A private and secure internet connection is crucial; using public WiFi can pose security risks.
• You need a phone to set up two-factor authentication (2FA). It verifies your identity securely.
• You can use a bank account or credit card to deposit fiat currency. You can use it to buy cryptocurrencies.
• A cryptocurrency wallet to store your assets securely. Most exchanges offer built-in wallets. But, it's best to transfer your crypto to your cold wallet for top security.

Frequently Asked Questions

Is Bitcoin legal in New Zealand?

Bitcoin and other cryptocurrencies are not currently regulated in New Zealand, making them legal to trade and hold. While there are no specific laws governing cryptocurrencies, standard contract and tax laws still apply to transactions involving digital assets.

How secure are the crypto exchanges in New Zealand?

Most good crypto exchanges in New Zealand have strong security. They use two-factor authentication, cold storage, and standard encryption. But, security levels may differ among exchanges. This shows the need for thorough research. You need to pick an exchange with a proven record of strong security.

Are there any regulatory considerations I should be aware of when trading cryptocurrencies in New Zealand?

Cryptocurrency trading in New Zealand is unregulated. But, traders should follow general guidelines and regulations. For instance, gains from cryptocurrency might be taxed. Exchanges must follow anti-money laundering (AML) and know-your-customer (KYC) rules. Staying informed about changes in New Zealand crypto laws is crucial.

Can I trade with New Zealand dollars on these crypto exchanges?

Several top crypto exchanges in New Zealand do this. They include Coinbase, Gemini, and Bitstamp. They let you deposit and withdraw New Zealand dollars (NZD). They handle fiat currency. Still, some exchanges may offer limited or no support for NZD transactions. This highlights the need to check the exchange's capabilities before choosing it.

What factors should I consider when choosing a crypto exchange in New Zealand?

When choosing a crypto exchange in New Zealand, you must weigh many factors. These include security, trading fees, and liquidity. Also, the available cryptocurrencies, ease of use, regulation compliance, and customer support. Rank these factors. It will help you choose an exchange that best fits your trading needs and wants.

What are the typical trading fees on crypto exchanges in New Zealand?

Fees for trading crypto on New Zealand exchanges vary a lot. They range from 0.1% to over 1% per trade. Many exchanges offer lower fees for larger trades. They also offer rewards for using their native tokens. You must compare trading fees across platforms. This will help you find the cheapest one for your trading style.