Best Crypto Exchanges In New Zealand (NZ)

Kiwis have access to numerous cryptocurrency exchanges with over 30 options currently available and growing. Based on various important factors such as supported crypto assets, features and benefits, deposit methods & limits, trading fees, security, and customer support, we have assessed and compared the best exchanges to buy Bitcoin and other cryptocurrencies. In this article, we share our research and list out the best cryptocurrency exchanges in New Zealand.

Top Crypto Exchanges In NZ For 2022

Based on our exchange reviews, here are the best crypto exchanges for New Zealand.

1. Swyftx (best exchange overall)
2. Digital Surge (best for beginners)
3. Easy Crypto (best local exchange)
4. Coinbase (best global exchange)
5. Independent Reserve (best for SMSF)
6. Binance (best for altcoins)

Disclaimer: This article contains affiliate links through our supported partners. Please read our disclosure for more information.

New Zealand Crypto Exchanges: 2022 Reviews

1. Swyftx

BEST OVERALL EXCHANGE

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Read our complete Swyftx Review for an in-depth breakdown of its features and benefits.

Notable Swyftx Features

• A well-designed user interface with a level of information that caters to both beginners and experienced crypto traders. Users will be able to quickly assess the status of their portfolio including growth (%), recent order history, and track real-time profit and loss.
• Crypto can be directly bought using AUD meaning that manual conversion into USD isn’t required. Swyftx will automatically convert the deposited AUD into USD which is held on the account and increases liquidity. Swyftx provides full transparency and presents the current exchange rate prior to confirming the purchase.
• Rather than offering pre-determined bundles of crypto to purchase, Swyftx provides the ability to set recurring orders, otherwise known as Dollar Cost Averaging (DCA). Users can opt to set up automatic deposits to purchase one or more cryptocurrencies at once, and in the desired quantities. This feature allows users to take control of their portfolios by providing additional trading flexibility.
• Zero deposit and withdrawal fees regardless of amount, low trading fees (0.6%), and very competitive spreads.

Why We Picked It

Swyftx is suited for both beginner and advanced investors and traders. The vast list of tradable assets which includes all the major cryptocurrencies as well as altcoins should appeal to those who want to have more potential trading options and strategies for their portfolio.

Swyftx Overview

Swyftx is our best-rated New Zealand exchange to buy, trade, and sell Bitcoin and other digital currencies. Founded in 2019 and based in Brisbane, the highly regarded exchange has expanded its service offerings to investors and traders residing in New Zealand. The team at Swyftx has carefully designed the platform to cater to a broad range of crypto investors and traders of varying degrees of experience and knowledge. The exchange provides NZ residents with a simple and transparent way to buy, trade, and sell 280+ digital currencies.

Kiwi’s can quickly create an account without a lengthy verification process to start depositing NZD into the account. Swyftx offers a range of common deposit methods plus a few more that other exchanges do not support, including bank transfers, PayID, POLI, and also credit cards. A major benefit with Swyftx is there are zero deposit fees to transfer New Zealand Dollars (NZD) from a bank account.

The trading experience is modern and simple, with the interface able to be customized to suit the needs of investors. There is also the ability to toggle dark-mode on the desktop and mobile application plus a demo account to trade risk-free. Beginner and advanced investors alike will benefit from the in-built crypto tax calculator, Dollar-Cost-Averaging (DCA) tools, real-time portfolio tracking, and exemplary customer service.

Swyftx is one of a few exchanges which utilize multiple order books to provide higher liquidity on trading pairs. The higher trading volume and market depth allow Swyftx to offer lower spreads (i.e. the difference between the bid and asking price) to the user, especially in volatile markets or where there is a lack of trading activity.

Swyftx Pros & Cons

2. Digital Surge

BEST EXCHANGE FOR BEGINNERS

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Read our complete Digital Surge Review for an in-depth breakdown of its features and benefits.

Notable Digital Surge Features

• A simple and clean interface means that beginners will have an easy time depositing funds and buying crypto. 
• Whilst the spreads are competitive compared to other Australian exchanges, Digital Surge offers some of the lowest trading fees (0.1 – 0.5% depending on trade volume), which would appeal to the general population.
• The ability to generate crypto tax reports.
• Digital Surge continues to provide innovative services including the ability for users to pay Australian bills using their held Bitcoin.

Why We Picked It

Digital Surge is our best-rated crypto exchange for beginners. The simplicity of the interface allows users who are new to cryptocurrency trading to quickly grasp the concepts of crypto buy and trading whilst enabling a high level of control and transparency over portfolios. Beginners will benefit from the fully integrated and comprehensive education hub.

Digital Surge Overview

Digital Surge is a uniquely user-friendly cryptocurrency exchange, providing New Zealanders with an easy way to buy, store and sell over 280+ cryptocurrencies. The exchange provides a platform that is perfectly suited for beginners with no prior experience with buying crypto, or those who possess a basic understanding of cryptocurrencies. Along with low trading fees, excellent customer support, and a variety of other features, Digital Surge is a strong option for investors who want to buy and hold digital currencies as long-term investments. Customers are able to start their portfolio investments with popular assets including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), Litecoin (LTC), and many more.

The Digital Surge platform has been designed with simplicity in mind. Apart from being aesthetically pleasing, the layout is easy to understand and beginners will have a simple time navigating their way through the platform and user interface. The trading experience will be enjoyable for novice investors however there are no advanced trading charts or analytical tools to cater to experienced traders.

To further benefit beginners, Digital Surge offers a wealth of educational content in their “Learn Crypto” hub. The intent of the hub is to provide newcomers with accurate information about important topics such as how the blockchain works, what wallets are, and the basics of crypto investments. Articles are written in simple language to easily explain crypto aspects and to minimize confusion.

Digital Surge is perfectly suited for beginner and experienced traders who want an enjoyable trading experience, offering a range of advanced order types and trading features on top of their incredibly easy-to-use interface. Digital Surge supports New Zealand users.

Digital Surge Pros & Cons

3. Easy Crypto

BEST LOCAL EXCHANGE

We work with partners that may result in MoreCrypto earning a small commission. Read our affiliate disclaimer for further information.

Read our complete Easy Crypto Review for an in-depth breakdown of its features and benefits.

Notable Easy Crypto Features

• New Zealand owned and operated cryptocurrency platform, and trusted by over 150,000 customers.
• Simply designed platform that allows users to easily buy, sell, and swap over 150 digital currencies.
• 100% fiat fund safety guarantee. Easy Crypto is one of the very few exchanges that guarantees the reimbursement of fiat funds that may be lost during a transaction. If payment is transferred but lost during the transaction, Easy Crypto will cover the loss and complete the transaction.

Why We Picked It

Easy Crypto is the easiest and most-beginner friendly digital assets platform that is locally available to New Zealanders. Together with the 100% safety guarantee for lost NZD during a transaction, Easy Crypto is perfect for Kiwis who want to start building their first cryptocurrency portfolios. The simplistic design of the interface allows beginners to buy and sell over 150 digital assets directly with NZD.

Easy Crypto Overview

Easy Crypto was founded in December 2017 by a brother and sister team, Alan and Janine Grainger, to provide New Zealand investors with an easy way to get into the cryptocurrency market. The platform is known for its simplicity and is primarily targeted toward beginner or novice investors who are new to cryptocurrencies. Since its establishment, Easy Crypto has amassed over 150,000 customers over New Zealand, Australia, South Africa, and Brazil and completed over $1.1 billion in trades between 2018 and 2021. The company continues to invest in itself to ensure that it provides its customers with the best service possible.

Easy Crypto has earned a strong reputation and has won backing from several New Zealand-based capital venture firms including Nuance Connected Capital, Pathfinder KiwiSaver, Ice House Ventures, as well as other overseas firms. The exchange intends to further expand its range of products it offers and break into new markets including the Philippines and Indonesia.

Easy Crypto is a legitimate and trusted cryptocurrency platform that is compliant with regulations set by the New Zealand Companies Office and includes being a Registered Financial Services Provider (FSP593949).

Easy Crypto Pros & Cons

4. Coinbase

BEST GLOBAL EXCHANGE

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Read our complete Coinbase Review for an in-depth breakdown of its features and benefits.

Notable Coinbase Features

• A feature-rich online storage solution with Coinbase Wallet. The wallet can be downloaded as a mobile app and allows you to store up to 4,000 digital assets, purchase NFTs, trade tokens on DEXes, and use a range of dapps.
• Two separate platforms to buy and trade over 150 digital currencies. The original Coinbase platform is where you can easily buy crypto in NZ. Coinbase Pro is a separate and more advanced platform where you have access to a greater number of trading pairs, advanced charting options, and limit orders.
• Industry-leading security measures and insurance cover in the event of a security breach.
• A unique course for beginners where you can learn about crypto and earn rewards along the way.

Why We Picked It

Simply put, Coinbase does the basics extremely well. For those who are new to crypto, Coinbase is a great choice as it solves the key concerns that most beginners have including the safety of their money and digital assets, as well as how difficult the platform is to use. The platform has been specifically designed to provide a high level of functionality whilst retaining a simple interface that makes the learning curve a short one. The crypto features offered by Coinbase allow you to manage your crypto with confidence but also assist in increasing your trading abilities and knowledge over time.

Coinbase Overview

Coinbase is a globally recognized and respected cryptocurrency exchange platform that is headquartered in San Fransisco. Since its establishment in 2012, the platform has become one of the household names in the crypto industry and encompasses a staggering customer base of over 73 million users in over 100 countries around the world. Currently, Coinbase is ranked #2 in the world for trading volume where over $2.5 billion of transactions are completed on a daily basis. Coinbase is also publically listed on the NASDAQ stock exchange (COIN) and forms an integral part of the exchange’s ongoing goal of increasing the level of economic freedom for everyday people.

One of the key selling points of Coinbase is its user-friendly interface. Beginners who are getting into crypto for the first time will have no trouble navigating their way around the platform to deposit fiat funds and purchase cryptos such as Bitcoin and Ethereum.

Coinbase takes online digital asset storage to another level by offering a uniquely designed non-custodial digital wallet that can be used to store over 4,000 assets including BTC, LTC, ETH, ADA, ERC-20 tokens, as well as NFTs. The standalone wallet can be downloaded to iOS and Android devices. Other functionalities include the ability to use dapps, view real-time market prices of your favorite crypto, earn interest on crypto holdings and purchase NFTs.

If you are looking to dip your toes into a more advanced trading experience, then the Coinbase Pro exchange will be the natural step up. The platform, which is separate from the original Coinbase platform, provides you with real-time charting tools with moving averages, trade history, order book, and price charts. Additionally, Coinbase Pro offers you several order types including stop order, limit order, and margin order.

If you’re worried about the safety of your hard-earned money and assets then the standard of Coinbases’s security will give you some confidence. Coinbase has an outstanding security track record and is well-known for its industry-leading security measures. The platform also has insurance cover in the rare event that a security breach occurs.

Coinbase Pros & Cons

5. Independent Reserve

BEST EXCHANGE FOR SMSF

We work with partners that may result in MoreCrypto earning a small commission. Read our affiliate disclaimer for further information.

Read our complete Independent Reserve Review for an in-depth breakdown of its features and benefits.

Notable Independent Reserve Features

• A simple and clean user interface that will benefit investors with no prior cryptocurrency experience. Beginners will have an easy time using AUD to buy and sell 27 digital currencies including Bitcoin, Ethereum, and Litecoin.
• In-built crypto tax estimate calculators where users can get a quick understanding of their cryptocurrency taxation liabilities. The generated tax reports provide a detailed breakdown of monetary gains, fiat and digital currency balances, fees incurred during the financial year to make for easy reporting to the ATO.
• Competitive trading fees start at 0.5% and can be reduced based on a 30-day trading volume which will suit high-net traders.
• Premium features and personalized support for Over-The-Counter (OTC) and Self-Managed Super Fund (SMSF) customers. 

Why We Picked It

Independent Reserve is a well-established Australian platform that is trusted by over 200,000 customers. The exchange holds over 8,000 SMSF accounts. Independent Reserve is considered the top choice for Australian high-net and SMSF investors due to its low trading fees, in-built tax reporting tools, and personalized support. OTC will also benefit from the ability to set up limit orders which is a feature that is unique in the OTC market. Beginner investors are not left behind and will find the interface easy to navigate. AUD can be deposited to allow novices to buy and sell a selection of digital assets at competitive rates.

Independent Reserve Overview

Founded in 2013, Independent Reserve has served over 200,000 individuals, holds over 8,000 SMSF accounts, and holds about $1 billion worth of digital assets. Whilst the exchange is geographically focussed on New Zealand, Australia, and Singapore, investors, and traders from 33 other countries and territories. In these regions, USD can be used to fund the wallet in order to take advantage of Independent Reserve’s unique features. In New Zealand, Independent Reserve has established itself as one of the most reputable crypto platforms. The company has won several awards and notable recognitions, appearing in the Deloitte Tech Fast 50 Australia, and Financial Times High Growth Companies 2020.

Beginner investors with no prior cryptocurrency experience will be able to find their way through the Independent Reserve interface. The interface is visually intuitive with features able to be navigated with ease. Although the interface is a bit basic compared to other platforms and in need of an update, it still performs seamlessly which is what matters.

Options to deposit NZD funds into the account wallet as well as buying and selling a range of digital assets are clearly laid out and identifiable. The Buy/Sell function will appeal to most beginners where NZD can be used to purchase cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Polkadot (DOT), and many more. Purchased crypto will be near-instantly transferred to the users’ account wallet where it can be tracked and managed. Beginner and experienced investors alike will enjoy the very competitive trading fees that Independent Reserve offers. Trading fees start at 0.5% and can be reduced depending on the 30-day trading volume. This will suit high-net investors where trading fees can be as low as 0.02% if the trading volume is sufficiently high enough.

The trading interface is simple and lacks features and functionality. Independent Reserve provides a simple charting package however does not come with the advanced trading tools and indicators associated with premium charting packages such as TradingView. As such, an in-depth analysis of the market price actions of cryptocurrencies cannot be undertaken and users may wish to consider an alternative trading platform that offers advanced tools.

Independent Reserve Pros & Cons

6. Binance

BEST EXCHANGE FOR ALTCOINS

We work with partners that may result in MoreCrypto earning a small commission. Read our affiliate disclaimer for further information.

Read our complete Binance Review for an in-depth breakdown of its features and benefits.

Notable Binance Features

• Binance is the #1 ranked cryptocurrency exchange in the world for the depth of its liquidity in its order books, high trading volumes, and traffic. 
• Extremely low trading fees of 0.1% can be reduced by increased trading volume.
• One of the largest selections of cryptocurrencies to buy, trade, and sell (400).
• Full-featured and streamlined mobile apps for iOS and Android devices.
• A suite of innovative products and services including the ability to purchase NFTs, earn interest on crypto holdings with Binance Earn and staking, margin trading for advanced traders, and a Visa debit card to spend crypto.

Why We Picked It

Binance is well known for the depth of its liquidity in its order books and high trading volumes. The high liquidity means that traders are able to trade cryptocurrencies at lower spreads compared to smaller exchanges with lower liquidity where spreads will be wider. High liquidity also means that the order book market is more stable and results in less price slippage. Due to the high liquidity across its trading pairs and the hundreds of supported cryptocurrencies, Binance is a strong option for investors who want to trade altcoins.

Binance Overview

Binance is a well-established and popular cryptocurrency exchange that offers Kiwi investors and traders to buy, trade, and sell over 300+ digital assets in over 180 countries. Founded in 2017 by Changpeng Zhao, the exchange has quickly grown into the world’s largest exchange in terms of trading volume, liquidity, and traffic. Binance is made up of several subsidiaries and supports New Zealand customers. Binance announced in May 2021 that the New Zealand Dollar (NZD) could be traded in exchange for digital currencies including BTC, USDT, ETH, BNB, BUSD, and DAI with zero transaction fees.

Binance boasts a number of services and features that will appeal to a range of crypto users, whilst still maintaining a user-friendly trading experience. Binance’s strengths lie in its high liquidity for trading pairs, low trading fees, a wide range of services, and innovative features. The exchange is registered and licensed under local regulations to provide crypto exchange services. Kiwi users creating an account must comply with Know Your Customer (KYC) procedures and provide basic personal information to verify their identity.

The core of the Binance brand revolves around the sheer trading volume and liquidity, as well as the vast number of digital assets and selection of trading pairs. This makes it a highly attractive option for investors and traders of varying levels of experience and knowledge can trade cryptocurrencies. On top of this, Binance continues to provide innovative products and features to maintain its status as one of the market leaders in the crypto space.

Binance Pros & Cons

Types Of Cryptocurrency Exchanges

Brokers

A cryptocurrency broker is a trading platform that finds the best possible prices from several large volume cryptocurrency exchanges and presents those prices to their customer. Since these platforms tend to be designed for the beginner trader or investor in mind, the processes and steps to purchase crypto tend to be simple, quick, and easy. Examples of crypto brokers available in New Zealand include Swyftx and Zipmex.

Customers will benefit from the typically high liquidity associated with high trading volumes as the amount of price slippage is reduced. A spread is typically applied to each trade and investors and traders alike should not confuse this with trading fees. The spread is the difference between the buy and sell price.

Trading Exchanges

Cryptocurrency trading exchanges are typically marketed towards beginner and intermediate investors and traders. Most are rich in features such as order types and advanced trading charting packages. The more established exchanges typically offer a wide variety and number of digital assets that can be bought, traded, and sold and this would cater to those who want to diversify their portfolios.

Trading exchanges feature highly intuitive user interfaces with charting features and tools such as technical indicators, drawing tools, and chart patterns to allow traders to analyze the price action and identify trading opportunities. Binance is an example of a popular crypto trading platform. 

Contract for Difference Providers

A Contract-For-Difference (CFD) crypto exchange allows traders to speculate on the direction of the price without purchasing the asset. This allows the trader to long or short cryptos with leverage. Simply put, a digital asset such as Bitcoin can be traded without actually using the asset itself but using fiat currency instead. CFP providers will typically have demo accounts available for customers to practice trading before switching to a real account. The learning curve for new traders is flattened by features such as simplified trading interfaces and charts, presentation of top-performing portfolios which can be copied, and pre-set crypto in wallets.

Plus500 and eToro are examples of CFP providers designed for beginner investors.

Futures and Derivative Exchanges

Futures and derivatives exchanges such as Bybit and FTX offer advanced trading platforms that use a maker and taker fee structure for investors and traders that have a thorough understanding of limit orders and possess sound risk management principles.

Trading crypto with leverage comes with significant risks that can result in losses greater than the starting capital and are for advanced traders only. These types of platforms are excellent for customers that understand how to short sell crypto to:

• Bet on the crypto asset value decreasing in price.
• Increase the amount of crypto in a portfolio by profiting on price corrections during an uptrend.
• Hedge a portfolio to lock in gains and minimize losses during a downtrend.
• Create significant profit potential by using leverage to borrow more money.

Our Exchange Review Methodology

There is a multitude of cryptocurrency exchanges in the New Zealand market and it can be difficult to understand the nuances of each and how they compare. As a result, deciding which crypto exchange is best is a challenging exercise for the everyday trader or investor.

Our mission is to provide high-quality, in-depth, and accurate information on the latest products and services from each exchange. Our reviews are based on our own real-life experiences to give individuals unbiased information to assist with the decision-making process. This includes creating a verified account, depositing funds, placing trades, and withdrawing funds with each exchange and platform to gain a complete and robust understanding of the user experience. We then evaluate and rate each New Zealand exchange out of 10 points.

Key factors and aspects we look for in a good cryptocurrency exchange are primarily based on what is important to the everyday Kiwi trader or investor. As such, our detailed exchange reviews take into consideration the following factors (but not limited to):

• Is the exchange a reputable and trustworthy platform to invest and trade crypto? The reputability and trustworthiness of exchange are slowly built up over time. We assess how the exchange was established, the number of users, its mission, and level of community perception.
• Is the platform interface easy to use? Beginner investors will look for simple and intuitive interface designs which clearly present how to buy, trade, and sell crypto. More experienced and advanced traders will still appreciate simplicity however advanced features such as charting will be sought in order to maximize trading potential.
• How fiat or crypto funds are deposited to enable trading to vary from exchange to exchange. Important aspects that we take into consideration are the number of deposit methods, support for NZD deposit options, minimum and maximum limits, and how fast transactions can be completed.
• The minimization of fees incurred matters to all traders and investors. We assess and compare fees that are charged by the exchange which include deposit fees, buy and sell fees, spreads, and trading fees. 
• We evaluate the strength of the exchange’s security measures implemented to protect funds and personal information. Are they in line with regulatory authority requirements and how do they compare against industry benchmarks and standards? These may include 2FA, use of cold storage, segregation of funds, and any known reports of security breaches resulting in loss or damage of held digital assets. 
• Is the customer support team easily accessible and methods of help assistance. 

How To Choose A Cryptocurrency Exchange

There is an abundance of cryptocurrency exchanges that are available to New Zealanders. Knowing which one to choose greatly depends on your trading goals and experience.

We have compiled a list of key factors and considerations to help you choose the right NZ crypto exchange to best suit your needs.

User Interface Experience

Our recommendation is to find a New Zealand exchange where the level of platform matches your level of expertise and experience. Beginners should ideally be seeking out a User Interface (UI) that is simplistic, intuitive to use, and therefore making the trading experience easier and more enjoyable. Features that beginners should be on the lookout for include instant deposits and withdrawals, instant buying, and selling.

Based on our reviews and experience, the ease of use provided by Swyftx and Digital Surge is best suited for people starting their cryptocurrency investment journeys.

Advanced traders would require a more detailed insight into the market. A UI that offers price charts, candlesticks, and graphs are features that advanced traders will look for.

Deposit / Withdrawal Methods and Limits

How you choose to deposit and withdraw funds into the exchange wallet will be a personal choice. The ease of performing, fees incurred, and how fast deposits and withdrawals can be made should be items of consideration. Direct bank transfer, POLi, PayID, BPay (OSKO), and credit/debit cards are the most common options. Some exchanges will also allow deposits of certain crypto to be made.

The fee section of each cryptocurrency exchange should be reviewed as some deposit and withdrawal methods may not be supported. The time taken to transfer funds across a New Zealand bank account may vary across different financial institutions.

Another consideration is deposit and withdrawal limits. Depending on the exchange, there may be daily maximum limits of fiat currency that can be deposited or withdrawn.

Type of Trading

The type of trading you want to undertake will heavily influence the type of crypto exchange options. You will need to decide if you want to:

• Trade fiat to crypto (e.g. NZD to BTC)
• Trade crypto to crypto (e.g. ETH to BTC), or
• A combination of the above.

Other key features which may influence your decision may include the ability to earn interest on your stored crypto or manage SMSF.

Fee Structure and Transparency

Customers should be aware of the various fees that may be incurred when trading on a cryptocurrency exchange. The most straightforward of these include deposit fees, withdrawal fees, and trading fees between assets, i.e. crypto to crypto.

Spread fees and foreign exchange conversion fees may not always be readily presented and may be ‘hidden’ prior to a transaction. Some exchanges will clearly present the fee incurred as a separate line item. A good exchange will have a dedicated fee section that should be reviewed. Most exchanges will offer zero fees on deposits and withdrawals. A competitive trading fee should be between 0.1% and 0.5% for each transaction made. The spread is the difference between the buy and sell price for a quoted cryptocurrency.

It is important to note that some exchanges such as Digital Surge may offer fee discounts depending on the volume traded. Generally, the fee decreases if the traded volume increases on a 30-day trading volume. The implications of this are quite significant (cost savings) if larger volumes are traded.

Supported Fiat and Cryptocurrencies

Make sure that the crypto exchange supports your target cryptocurrency and an NZD trading pair is available (e.g. NZD-BTC). Most exchanges will support the dominant cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). However, with thousands of digital currency projects and coins to buy and sell, finding an exchange that supports all is not possible. Some exchanges will support BTC only and others are constantly adding new coins to their support list.

Liquidity and Volume

The larger and more established digital currency exchanges will tend to have access to greater liquidity compared to smaller cryptocurrency exchanges. Liquidity refers to how easily one asset is converted into a fiat currency or another asset. The higher the liquidity of an exchange, the easier and faster it will be to complete fiat-to-crypto and crypto-to-crypto transactions.

Methods of Verification

New Zealand-based exchanges are required to be registered and licensed under local regulations in order to provide digital currency services. Exchanges are required by NZ law to collect customer information (known as Know Your Customer) so that a customer’s identity can be established. Whilst an account can typically be created with just a full name and email address, identity verification is required before buying and trading can be undertaken. 

The information and documents required by exchanges to verify your identity differ across exchanges, however typically include full name, email address, phone number, utility bill which states your address, and a copy of a New Zealand government-issued form of identification (e.g. drivers license, passport).

For most exchanges, the identity verification process usually takes around 2 to 5 minutes to complete.

Account Security

Industry-standard security measures for New Zealand crypto exchanges typically include multi-location and offline cold wallet storage of funds, a combination of hot and cold fund storage, multi-signature verification withdrawal process, and Two Factor Authentication (2FA). Other features may include user private key control, ID verification, notification on account activity (i.e. email and/or SMS), proof of reserve, email encryption, and 24/7 security protocol monitoring and penetration testing by third parties.

The security page of the exchange should be reviewed to confirm that industry-standard measures and protocols are being implemented.

Available Customer Support Tools

Although most cryptocurrency exchanges will offer similar customer support features, there are some variabilities. Most exchanges will offer a Frequently Asked Questions (FAQs) page which should address the most common troubleshooting queries. In addition to FAQs, some exchanges like Digital Surge possess a dedicated knowledge base or library that presents a series of how-to guides and tutorials tailored for beginner and intermediate investors. We have found that the level of information within these libraries can vary greatly from the not so useful to the comprehensive.

Support tools to assist with immediate troubleshooting advice or assistance may come in the form of a ticket system or live chatbot. The ticket system is akin to directly emailing the exchange support team with a query however response times will vary across exchanges. We have noted that the larger and more established exchanges are more likely to offer a live chat service.

Beginner and intermediate investors alike would be well served to explore what communication and assistance tools are available for support.

Reputation & Online Reviews

Investors should be looking for an exchange that has a strong reputation for being reliable and secure. Websites such as Trustpilot and Product Review will be able to provide insight into the experiences and feedback from the current on former users of the exchange. Other online sources of customer reviews may include forum comments and social media posts. 

A quick assessment of online customers reviews will help to identify any particular issues that may be present.

How To Store Cryptocurrency In NZ

Deciding on how to store cryptocurrency in New Zealand comes down to two options. Firstly, digital assets can be kept in the exchanges storage system, which can be cold storage (wallet), or a combination of hot and cold storage. Secondly, cold-storage wallets may be used by individuals to hold crypto offline and usually in a physical state.

• Hot storage refers to a wallet that is connected to the internet and can be accessed at any time. Examples include online cloud wallets, mobile wallets, software wallets, and exchanges. Hot wallets are great for keeping an amount of crypto available for frequent buying, trading, and selling. 
• Cold storage refers to a physical means of keeping crypto in a storage device and is only accessible by the wallet owner. Examples include hardware wallets such as CoolWallet Pro and the Ledger Nano X. Cold-wallets are not connected to the internet. 

Since hot-wallets (e.g. exchanges) are connected to the internet, funds are susceptible to loss, damage, or theft, albeit the risks are low. With this in mind, investors and traders should be seeking a reputable and trustworthy exchange that has a stellar security record. The best way to mitigate against this potential risk is to store digital assets in a cold-storage wallet.

The key function of a cold wallet is to provide an extra security mechanism between the internet-connected device (e.g. computer) and the asset. All wallets will have a private key that legitimizes access to the stored asset. Most wallets usually come equipped with a variety of recovery options in case the wallet is lost or damaged.

How To Spend Cryptocurrency In NZ

The number of ways cryptocurrency can be used or spent in New Zealand is increasing. Traders and investors can use Bitcoin to purchase goods and services using the following methods (but not limited to):

• Direct transferring of crypto from a wallet to the recipient’s address.
• Using a cryptocurrency debit card to send crypto to a merchant. The process is akin to using a standard debit card where held assets can be accessed or loaded onto the card. Some exchanges offer these services, whilst others do not.
• Use stored Bitcoin to withdraw NZD from a Bitcoin ATM.
• Use crypto to purchase goods from merchants such as Mooning Market. Moon Market works similar to Amazon and eBay.

Frequently Asked Questions

Is it Legal to Buy Cryptocurrency in New Zealand?

The purchasing, trading, and selling of cryptocurrencies and other digital assets is legal in New Zealand. It is not regarded as a currency however digital currencies are recognized by the New Zealand government as property and are therefore taxable under certain scenarios.

What Is the Best Cryptocurrency Exchange in New Zealand?

The best exchange depends on your investment or trading goals. However based on our reviews, Swyftx is the best overall crypto exchange to buy, trade, and sell digital assets and coins in NZ. The exchange has a wide range of features that cater to both beginner and advanced investors as well as offering low spreads due to its high liquidity. Other key factors such as the trading interface, customer service, and security record are best-in-class.

Can I Invest My Super Into Cryptocurrency?

Several New Zealand exchanges such as Independent Reserve and Digital Surge offer investors the ability to invest their super into cryptocurrencies. Self-Managed Super Funds (SMSF) require their own wallet that specifically stores cryptocurrency. Depending on the investor’s financial situation, SMSF may offer more control over their superannuation and retirement.

What Is The Best Crypto Swap Platform?

In our opinion, Changelly is the best crypto swapping platform to anonymously perform crypto-to-crypto exchanges. The simplistic and safe platform has been used by over 2 million customers worldwide.

What Is The Best Crypto Hardware Wallet In NZ?

The Ledger Nano X and Trezor One are two of the most popular hardware wallets in the crypto market. Both possess desirable features such as best-in-class security measures, competitive price points, simple usability, and seed recovery. The CoolWallet Pro is considered an up-and-coming wallet that supersedes the widely popular Cool Wallet S.

Can You Buy Crypto With A Credit Card?

Crypto can be purchased using a credit card however it depends on what exchange you are using as not all with providing this service. An exchange that accepts credit cards as a method to make fiat deposits will be essential. The fees are typically higher however the method provides a level of convenience. Reputable and trustworthy exchanges should be used to buy crypto with a credit card such as Binance or Coinbase.