Best Crypto Exchanges in NZ

Best Crypto Exchanges in NZ

Robert McDougall 

May 2, 2024


Cryptocurrency Exchange Lists

Best cryptocurrency exchanges in New Zealand for 2024

  1. Bybit – Best Crypto Exchange
  2. Swyftx - Best for Beginners
  3. Binance – Best for Serious Traders
  4. MEXC - Deepest liquidity
  5. KuCoin – Trade over 700+ Altcoins
  6. – Best Crypto Mobile App
  7. Independent Reserve – Best for Large Volume Traders
  8. Easy Crypto – Extremely Quick & Easy
  9. BitPrime - Best for Security in NZ
  10. Changelly
  11. Bittrex
  12. Coinmama

Best cryptocurrency exchanges in NZ for 2024

  • Bybit – Best Crypto Exchange
  • Swyftx - Best for Beginners
  • Binance – Best for Serious Traders
  • MEXC - Deepest liquidity
  • KuCoin – Trade over 700+ Altcoins
  • – Best Crypto Mobile App
  • Independent Reserve – Best for Large Volume Traders
  • Easy Crypto – Extremely Quick & Easy
  • BitPrime - Best for Security in NZ
  • Changelly
  • Bittrex
  • Coinmama

Best cryptocurrency exchanges in New Zealand for 2024

Independent Reserve8.80.10%
Easy Crypto NZ8.50.30%

Cryptocurrency has become a buzzword, attracting attention worldwide. If you're considering buying some crypto like Bitcoin (BTC) and Ethereum (ETH), starting with a crypto exchange is a smart move. This guide focuses on the top crypto exchanges in New Zealand, offering a detailed comparison and analysis based on various criteria to help you select the one that best fits your individual requirements. All the exchanges discussed here cater to NZ residents and are recognised for their reliability and legitimacy. Let's explore my recommended options:

Crypto ExchangeFeaturesScoreSign Up
Best overall for NZ


☑️ Lowest trading fees in NZ. Spot trading: 0.1%, Derivatives: 0.01/0.06%

☑️ Margin trading available with up to 100x leverage

☑️ More than 280+ coins available to trade

Open Account
Best for beginners


☑️ Free $20 BTC signup bonus, after a quick verification process

☑️ Purchase over 320+ cryptocurrencies using NZD, with low fees of 0.6%

☑️ Demo account to practise trading with virtual money

Open Account
Lowest fees


☑️ Deepest liquidity crypto trading platform

☑️ 0.1% fees for spot trading, 0.01/0.05% for futures trading

☑️ Over 1,520+ coins, and 2,110+ trading pairs available

Open Account
Best for altcoins


☑️ Over 700+ different cryptocurrencies and deep liquidity

☑️ Low trading fees of 0.1% which can be discounted by 20% if you pay using KCS

☑️ Free trading bots to execute orders even while you are asleep

Open Account

Best NZ Cryptocurrency Exchanges for 2024: Reviews

#1. Bybit - Best Overall in New Zealand, Lowest Fees

MarketPlace Fairness SPECIAL OFFER

Receive FREE $10 BTC by clicking here to register

Bybit has emerged as a top contender in New Zealand's crypto exchange market, acclaimed for its reliability and the trust it has garnered from users. Boasting a massive user base of over 10 million and an impressive daily trading volume exceeding $10 billion, Bybit demonstrates its market strength. The platform is known for its deep liquidity and an exceptional system uptime of 99.99%, coupled with an incredibly fast trading speed capable of handling 100,000 trades per second.

This exchange is particularly appealing to those interested in active trading of cryptocurrencies. However, it's also user-friendly for beginners who are more inclined towards buying and holding crypto. Bybit allows for easy purchase of cryptocurrencies using popular payment methods such as Visa/Mastercard, Apple Pay, Google Pay, or bank transfers. Users have the flexibility to either store their crypto or engage in trading activities.

Bybit is not just limited to spot trading, which includes a wide variety of 280+ coins. It also offers derivatives markets, including USDT Perpetual contracts, Inverse Perpetual contracts, and Inverse Futures contracts, as well as an innovative copy trading feature. This feature enables users to replicate the trades of successful investors, potentially easing the learning curve for newcomers. The platform's fee structure is competitive, with spot trading fees set at 0.1%. Derivatives trading offers even lower maker fees at 0.01% and taker fees at 0.06%.

For new users, there's an added incentive: signing up with this link offers a bonus of FREE $10 BTC on a deposit of $100 or more, enhancing the appeal for those starting their crypto journey with Bybit.

Bybit stands out for its advanced trading features, notably its margin trading option with up to 100x leverage. This feature allows traders to amplify their potential profits from small investments. However, it's important to be cautious, as margin trading involves significant risks; even a slight price movement in the opposite direction can lead to rapid liquidation of your position. Due to its complexity and risk, margin trading is generally not advised for beginners.

Another notable feature of Bybit is its testnet (demo) platform, which is a replica of the main trading environment. This allows users to practice trading strategies using virtual money, eliminating any financial risk. This practice environment is a great way for users to become familiar with the platform and gain confidence before transitioning to real trading.

In terms of customer support, Bybit offers robust assistance with its 24/7 Live Chat feature, ensuring users have access to help whenever needed. Additionally, the platform provides an insurance fund, which is designed to protect traders from incurring negative equity and being responsible for extreme losses.

Given its range of features, including advanced trading options, a risk-free demo environment, and strong customer support, Bybit is a compelling choice for serious crypto traders in New Zealand.

  • Perfect for serious traders, with low fees and rapid trade speed
  • Fees for spot trading: 0.1%, derivatives trading: 0.01%  (maker), 0.06% (taker)
  • Over 280+ cryptocurrencies to trade
  • Copy Trading available to learn from others
  • 24/7 Live Chat support and insurance fund
  • $10 FREE Bitcoin when you sign up here

#2. Swyftx Exchange - Best for Beginners

MarketPlace Fairness SPECIAL OFFER

Receive FREE $20 BTC by clicking here to register

Swyftx, with its aesthetically appealing and feature-laden platform, secures the second spot in my recommendations for cryptocurrency exchanges in New Zealand. Its intuitive design and user-friendly interface, evident in both the desktop and mobile app versions, make it an ideal choice for both beginners and seasoned traders. The platform offers a diverse range of cryptocurrencies, with the option to buy and sell over 320+ different types, catering to a wide spectrum of investor preferences.

One of the standout features of Swyftx is its competitive transaction fees, which are capped at a low rate of only 0.6% per trade. This cost-effective fee structure is particularly appealing to those who engage in frequent trading. Adding to its allure, Swyftx entices new users with a generous welcome offer: FREE $20 of BTC for new sign-ups. This bonus serves as an excellent incentive for those starting their crypto trading journey.

The combination of its easy-to-navigate design, broad range of cryptocurrencies, low transaction fees, and attractive sign-up bonus solidifies Swyftx’s position as one of the leading cryptocurrency exchanges in New Zealand.

To sign up with Swyftx is extremely quick and easy, along with the short verification process, which does NOT require taking photos of yourself. Once the verification is complete, you will receive $20 FREE BTC in your account, even before you have made a deposit. If you are a beginner to cryptocurrency, you can easily turn on the unique demo setting, where you can navigate the platform with no risk - you can practise buying and selling using free play money. Swyftx focuses on its customers, with an FAQ database, tutorials from the Swyftx team, and Live Chat support team. 

Swyftx stands out as a highly customer-centric and user-friendly crypto exchange to me, garnering positive feedback especially from newcomers to the crypto market. Many users highlight its ease of use, particularly for those purchasing cryptocurrency for the first time. If you're searching for a secure and accessible trading platform, Swyftx is highly recommended.

One of Swyftx's key advantages is its transparent fee structure. The exchange charges a flat fee of 0.6% on all trades, with the assurance of no hidden fees in the spread, a common issue with some competitors. This straightforward approach to fees is complemented by Swyftx's competitively low spreads in the New Zealand crypto market. For example, the spread on BTC is just 0.45%, with an average spread of 1.7% across all offerings. This efficiency in pricing is attributed to Swyftx's ability to tap into large international trading volumes, allowing them to offer better rates to their customers.

As you become more familiar with Swyftx, you'll likely discover a variety of useful tools and features. For instance, the Price Alert feature is particularly handy, sending instant notifications when a specified cryptocurrency hits a pre-set price. This enables timely buying or selling decisions, maximising potential profit or minimising losses.

However, it's important to note a notable drawback: Swyftx discontinued its staking services on various coins as of early 2023. This change might affect users who were interested in earning rewards through staking cryptocurrencies. Despite this, Swyftx's combination of user-friendly design, transparent pricing, and innovative features make it a strong contender in the New Zealand cryptocurrency exchange market.

  • Live Chat customer support that is ready to assist when you need
  • Purchase over 320+ cryptocurrencies using NZD
  • Low fees of 0.6% and low spread, with no hidden costs - fees are clearly displayed when trading
  • Free $20 BTC signup bonus, when you sign up here
  • Demo mode so you can practise with play money

#3. MEXC Trading Platform - Best for Huge Range of Coins

MarketPlace Fairness SPECIAL OFFER

Receive FREE $30 USDT by clicking here to register

MEXC is the best choice for New Zealanders who want choice when it comes to buying and trading crypto. With over 1,520+ coins across 2,110+ trading pairs, you will have plenty of options, from popular coins, to small altcoins you have never heard of. Spot trading fees are 0% for 11 popular pairs: BTC/USDT, ETH/USDT, XRP/USDT, DOGE/USDT, BTC/USDC, ETH/USDC, XRP/USDC, DOGE/USDC, ETH/BTC, XRP/BTC, XRP/ ETH. For the remainder spot trading pairs, fees are 0.1%. For futures trading, the fees for makers are 0.01% and takers pay 0.05%. You will also receive 10% off trading fees when you register using this link.

MEXC is a comprehensive platform catering to a wide range of crypto traders, from beginners to experts. Whether you're just starting and want to buy crypto instantly, engage in spot trading as an intermediate, or delve into the complexities of futures trading as an experienced investor, MEXC has the facilities to meet your needs.

For those interested in more advanced trading strategies, MEXC Global offers margin trade with up to 200x leverage. This feature allows traders to amplify their trading positions, potentially leading to higher gains (though it also comes with increased risk). Additionally, the platform provides free trading bots, which can automate trading strategies, and a copy trading feature. This latter option enables users to replicate the trades of successful traders, a valuable tool for those looking to learn from experienced market participants.

A key strength of MEXC is its exceptionally high liquidity, surpassing other top crypto exchanges such as BybitBinanceKuCoin, and Huobi. In fact, MEXC boasts more than double the liquidity of its nearest competitor, Bitget, and 10x more than other trading platforms. This high liquidity is crucial for traders as it ensures smoother transactions and more stable prices, even during volatile market conditions.

For those interested in joining MEXC, there is an additional incentive to use this link. By doing so, new users can receive $30 in FREE USDT and a 10% discount on all trading fees. This offer adds an extra layer of appeal, particularly for new users looking to start their crypto trading journey with some added benefits.

  • Deepest liquidity of top crypto exchanges
  • Zero maker fees for 11 spot trading pairs
  • More than 1,520+ different cryptocurrencies to buy and trade

#4. KuCoin Cryptocurrency Exchange - Best for Altcoins

KuCoin stands out globally for its extensive selection of over 700+ altcoins and attractively low trading fees starting at just 0.1%. The platform also offers a notable loyalty program, rewarding users with KuCoin's own token, KCS, and providing discounted trading fees for payments made with KCS.

KuCoin distinguishes itself with its array of FREE trading bots, designed to automate various trading strategies. As of the latest update, the platform provides a diverse range of bots including the Spot Grid bot, Futures Grid bot, Smart Rebalance bot, DCA (Dollar-Cost Averaging) bot, and Infinity Grid bot. These tools are invaluable for removing emotional decision-making from trading, allowing for continuous operation of crypto trades without personal intervention, even when users are offline or asleep. This offering is particularly noteworthy as some traders spend substantial amounts for similar crypto trading bots, yet KuCoin provides these advanced tools at no cost to its users.

Beyond just margin trading, KuCoin caters to a wide spectrum of cryptocurrency interests. The platform offers various trading options like spot trading and derivatives trading, alongside opportunities in crypto lending, borrowing, and earning interest on crypto holdings. For those interested in the evolving world of digital collectibles, KuCoin also delves into NFTs. Additionally, the platform facilitates instant crypto purchases and swaps, and hosts a P2P marketplace, catering to users with diverse preferences and trading styles.

  • No need for full verification upon sign-up, and low trading fees of 0.1% that can be discounted using KCS coin
  • Free trading bots to execute trades automatically for you 
  • Over 700+ different coins against both ETH and BTC trading pairs and over 40 fiat currencies

#5. Binance Exchange - Best for Serious Trading

MarketPlace Fairness SPECIAL OFFER

Receive up to $100 cashback vouchers by clicking here to register

Binance has undoubtedly established itself as a formidable platform for devoted cryptocurrency traders, with its global popularity serving as a clear indicator of its success. It holds the distinction of being the world's largest crypto exchange by trading volume, a testament to its widespread appeal and robust infrastructure.

One of the most attractive aspects of Binance is its competitive trading fee structure, with rates starting as low as 0.1%. This low fee is a major draw for users, making it a cost-effective option for both frequent and occasional traders. However, the appeal of Binance extends far beyond its fee structure.

Binance is an ideal platform for those who are serious about frequent crypto trading. Its fee structure is highly competitive, with a base rate of only 0.1%. Moreover, the platform offers additional incentives to further reduce these fees. If you hold Binance's native coin, BNB, you can enjoy reduced trading fees. Additionally, Binance offers fee reductions for users with high trading volumes, making it an even more cost-effective option for active traders.

An attractive feature for new users is the opportunity to receive cashback vouchers, up to $100, when signing up through this link. This offer adds an extra incentive for those considering Binance as their trading platform.

For traders interested in automating their strategies, Binance shows great compatibility with most third-party trading bots. This compatibility allows you to leverage automated trading strategies, enabling you to capitalise on market fluctuations even when you're not actively managing your trades. Whether you are occupied with other tasks, offline, or asleep, these bots can help in executing trades based on predetermined criteria.

Additionally, if you're looking to optimise your trading bot usage, there are resources available to guide you in selecting the best trading bots to suit your needs and trading style. This adaptability and range of features make Binance a top choice for traders who prioritse cost efficiency, flexibility, and the ability to use advanced trading tools.

  • Low fee of 0.1% when trading crypto on Binance
  • When you pay using Binance Coin, you receive 25% discount
  • Get access to Binance Lite, a simplistic version of the platform that is more user friendly for beginners
  • A great option for serious traders, low fees, and access to over 600+ coins

#6. App and Exchange - Best for Staking is an excellent crypto platform for Kiwis that are interested in staking their coins. If you are unfamiliar with the term staking, it is essentially like holding your money in the bank, but instead you are doing it with cryptocurrency. By 'staking' your cryptocurrency, you are locking it up, which helps to validate the transactions on the blockchain, and you receive rewards for doing so. The reward you receive is more of the coin that you have staked, eg: if you stake ADA, you will receive more ADA (Cardano) as a reward. 

Staking is a great idea if you plan on holding your cryptocurrency long term. You might as well earn some extra crypto while you hold it, and is the best for helping you do this. On's desktop exchange and mobile app, there are over 250+ different cryptocurrencies, and you can stake over 40+ of these coins. Depending on various factors, you can earn up to 12% APR on coins staked on even has their own native coin, called CRO that can be staked, which gives a range of excellent benefits. You will receive up to 12% APR for staking CRO, and you can access lower trading fees, higher APR on other staked coins, and a premium metal Visa debit card. With this Visa debit card, you can receive up to 5% cashback on all purchases (paid in CRO), rebates on subscriptions (Netflix, Spotify) and bookings (Expedia, Airbnb), and better APR in Crypto Credit and Crypto Earn.

  • Visa debit card with up to 5% cashback on purchases and additional benefits, such as Airport Lounge access
  •'s own CRO coin comes with many benefits if you stake on their platform
  • Offers access to more than 250+ cryptocurrencies
  • Insurance cover on cryptocurrencies
  • Staking on over 40+ coins, and receive up to 12% APY

Related articles: vs Coinbase

#7. Independent Reserve Exchange - Best for Crypto Insurance

Independent Reserve is another top exchange for New Zealand residents, and it rivals the #2 exchange Swyftx, with regards to a few factors: firstly, Independent Reserve has lower trading fees of only 0.5% compared to Swyftx's 0.6%. In addition, if you are a large-volume trader, you can reduce your fees depending on how much you traded in the last 30 days. Another way Independent Reserve beats Swyftx is that it offers insurance on cryptocurrency up to $5 million.

Independent Reserve is well-suited for SMSFs, family offices, sophisticated investors and businesses that want to trade large amounts over $100,000. They have an excellent OTC desk, and generate tax reports powered by KPMG.

One drawback of Independent Reserve is that only 27 different cryptocurrencies are supported on their platform. Fortunately most of the popular coins and frequently traded coins are found on Independent Reserve.

  • Independent Reserve focuses on security as one of their priorities and even offers insurance for premium accounts
  • Supports 27 cryptocurrencies that you can trade starting at a 0.5% fee, which reduces based on volume
  • Instant deposits, automatic dollar-cost averaging (DCA), tax reports

#8. Easy Crypto Exchange - Best for Purchasing Quickly

Easy Crypto NZ stands out as an ideal choice for those looking to immediately purchase cryptocurrencies. Its operational model differs significantly from many other exchanges, primarily in how it handles funds. Unlike typical exchanges that require you to deposit fiat currency into the exchange account before trading, Easy Crypto NZ does not store or hold any of your fiat or digital funds.

The process for purchasing crypto on Easy Crypto NZ is straightforward and efficient. When you decide to buy a specific coin, you simply select the 'buy' option, which leads you to a purchase screen. Here, you can directly transfer money from your bank to complete the transaction. This direct transfer method simplifies the buying process, as it eliminates the need to preload your exchange account with fiat currency.

This approach not only streamlines the buying process but also adds a layer of security since your funds are not held on the exchange but are sent to your personal wallet. This ensures that your cryptocurrency is always in your control and there is no risk of losing your digital assets even if Easy Crypto is hacked. Easy Crypto NZ even offers a 100% funds guarantee on all orders, so you can invest and trade with peace of mind.

  • 100% funds safety guarantee on each order
  • Take control of your own assets - nothing is stored online on the exchange
  • Buy crypto instantly using NZD without having to deposit beforehand
  • Transparent fees and no hidden costs

#9. BitPrime Exchange - Best for Security

BitPrime, a New Zealand-based cryptocurrency platform, differentiates itself in the crypto exchange market with its unique operational approach. As a non-custodial platform, BitPrime ensures that both your cryptocurrency and fiat currencies are never held on their platform. This means you maintain complete control over your assets at all times. This model significantly enhances security by eliminating the risk of BitPrime misappropriating your funds and making your crypto assets immune to potential hackers targeting the platform.

Unlike many other exchanges that charge a direct commission, BitPrime integrates its fees into the spread. For retail investors, the spread begins at 2.9%, and it's worth noting that larger volume trades can benefit from lower spreads. However, if you opt to use credit cards for transactions on BitPrime, be prepared for higher spreads, around 5%.

Although the fee structure of BitPrime might be slightly higher compared to other exchanges, it's important to consider the added benefit of this approach. Since your crypto is directly transferred to your personal wallet, you effectively bypass the typical withdrawal fees that are commonplace on other platforms. This direct-to-wallet feature not only adds a layer of security but also can offset the seemingly higher costs due to the absence of withdrawal charges.

You can buy and sell over 150+ different cryptocurrencies using BitPrime, and since it is a local NZ platform, you can invest with peace of mind. It is officially registered and regulated, IRD compliant.

The only thing to keep in mind when using BitPrime is that you need to have an existing cryptocurrency wallet before you can make your crypto purchase. If you are unsure where to start, you can have a look at our article on the best crypto wallets

  • Local NZ-based crypto platform for increased security
  • BitPrime is non-custodial so you always retain full control of your crypto and fiat assets
  • Buy and sell over 150+ cryptocurrencies with a spread of 2.9%
  • Officially registered, regulated, IRD compliant

#10. Bitget Cryptocurrency Exchange - Best for Frequent Traders

Bitget also makes my list of the best crypto exchanges in New Zealand. I recommend it for those who are frequent traders, as it has over 450 cryptocurrencies available, plenty of advanced trading tools and features, and low trading fees. It will only cost you 0.1% per transaction when spot trading, and if you are trading futures, it is 0.02% for makers and 0.06% for takers.

Traders with ample experience can take pleasure in the vast array of markets offered, with the flexibility to engage in spot or futures trading, or utilise the Copy Trade function to leverage the expertise of fellow users. Through copy trading, all you need to do is pick a profitable trader to follow, and Bitget will execute identical orders for you whenever that trader places a trade. This not only saves you time from researching the most profitable coins to trade but also enables you to keep abreast of market fluctuations even during your sleeping hours.

Bitget has introduced the Bitget Academy, an online platform on their website that comprehensively elaborates on the exchange's functionalities. This is particularly advantageous for crypto novices, who can promptly familiarise themselves with the diverse features and learn how to navigate the trading interface. Additionally, you can keep yourself informed with the latest developments in the cryptocurrency industry.

To explore the full range of Bitget's offerings, head over to their official website. You may also peruse my detailed review for more information.

  • Over 450+ cryptocurrencies available to trade
  • Low trading fees: spot 0.1%, and futures 0.02/0.06% (maker/taker)
  • Copy Trading feature where you can mimic the exact trades of a successful trader

Comparison Table of the Best Crypto Exchanges in NZ

Crypto Exchange
Crypto Exchange
Fiat Currencies
Fiat Currencies
NZD, USD, GBP, EUR, AUD & more
NZD, USD, EUR, GBP, RUB, CNY, AUD & 40+ more
USD, GBP, EUR, CAD, AUD, HKD, JPY & 35 more
BTC, ETH, LTC, XRP, EOS & 280+ more
BTC, BTG, BCH, ADA, ETH, ETC & 320+ more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, DOT, ADA, ETH & 700+ more
BTC, ETH, XRP, LTC, BCH, EOS, XMR, NEO & 600+ more
Deposit Methods
Deposit Methods
Visa/Mastercard, Apple Pay, Cryptocurrency
Bank transfer, Credit card, Cryptocurrency
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
SEPA, Skrill, PayPal, Apple Pay, Debit card, Credit card, Cryptocurrency
SEPA & Bank transfer (ACH), PayID, Debit card, Credit card, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
0.1% for spot, 0.01%/0.06% for derivatives
0.1% for spot, 0.01%/0.05% for futures
0.1% for spot, 0.02%/0.06% for futures

How to Choose a Cryptocurrency Exchange

Beginning your journey in the world of cryptocurrency can be overwhelming, especially given the multitude of exchanges available, each touting their superiority over others. To navigate this landscape and find the exchange that best aligns with your needs, it's essential to embark on thorough research. This involves exploring various exchanges, understanding the unique features they offer, and critically assessing the advantages and drawbacks of each. When selecting a crypto exchange, here are some crucial factors to consider:

User-friendliness & trading tools

Getting started can be confusing if you are new to crypto, while on the other hand, more experienced traders may want a platform that offers more advanced features.

Payment Methods

Consider how you want to deposit money to the exchange and make sure that your preferred payment method is available. Most exchanges accept popular options like credit and debit cards or PayPal.

Trade type

Consider whether you want to trade fiat-to-crypto, crypto-to-crypto, or a combination of both. 


How much is it going to cost you to buy and sell crypto from the beginning to the end of the process on the platform? Remember to consider any fees associated with the payment method you plan to use, exchange rates, and any discounts you might be entitled to.


Be aware of any deposit and withdrawal limits that you may be subjected to when using the exchange. Minimum and maximum limits may apply.


Do you want to trade on a web browser, or do you prefer the option to trade from a mobile app? How easy will it be for you to access your exchange account wherever you are?

Loyalty programs & discounts

Does the exchange offer any discounts or rewards for those who meet certain guidelines, such as keeping up a certain trade volume each month?

Exchange rates

Compare cryptocurrency exchange rates across a variety of different exchanges - you may be surprised to see just how much they can fluctuate.


The higher the liquidity of the exchange, the easier and faster it will be for you to complete trades. Larger crypto exchanges tend to have high liquidity levels.

Account verification

Most platforms will require you to verify your identity before allowing you to begin trading. Are you happy to give out this information or would you prefer to use an anonymous platform?

Processing times

When you deposit money into or withdraw money from the exchange, how long can you expect to wait for your transaction to complete?


Security should be a top priority when choosing a crypto exchange. Platforms without a range of high-security features such as two-factor authentication, strong account verification processes, 24/7 security monitoring, and offline secure storage for customer funds leave you vulnerable to hackers and fraudsters. 


The crypto industry is still quite lightly regulated, and how an exchange is regulated will depend on where it is based.

Customer support

What is the customer support like on the exchange? Is there Live Chat support? Is a customer service team available at all times? How responsive and helpful are customer service agents?


Overall, you should look for an exchange that has a strong reputation for being reliable and secure. Read independent reviews and find out about as many user experiences as possible - both positive and negative - to find out what the exchange is doing well and where it could do better.

How to Use a Cryptocurrency Exchange

  • Buying Crypto with Fiat

  • Crypto to crypto

  • Selling & Withdrawing

1. Buying Cryptocurrency with Fiat Currency

Imagine that you have $500NZD available to buy Bitcoin with. Follow these steps:

  1. Compare and research crypto exchanges to find one that’s the right choice for you.
  2. Register and potentially verify your account on the platform, including providing any proof of ID and personal details required.
  3. Head to the ‘Buy’ screen once you’re set up.
  4. Select Bitcoin as the cryptocurrency you plan to purchase.
  5. Select your payment currency (NZD in this case) and specify $500 as the amount that you want to spend.
  6. Choose your preferred payment method.
  7. Enter your payment details.
  8. Review the full details of your transaction. Check the amount of BTC that you’re purchasing and make sure that you are aware of any fees that apply.
  9. Click ‘Buy BTC’ if you are happy to proceed.
  10. The BTC will be deposited into your exchange wallet, or another address nominated by you once the transaction has been processed.

How to Pay for Your Cryptocurrency

You need to deposit funds into your crypto exchange account to purchase crypto. Exchanges typically accept a wide range of different deposit methods, which may include:

  • Credit and debit card payments
  • Online payment services like PayPal
  • Cash deposits
  • Bank transfers
  • POLi
  • Google Pay and Apple Pay
  • Cryptocurrency transfers
  • Prepaid cards

Note: Each crypto exchange will offer different deposit options, so be sure to check that the exchange you want to use supports your preferred method of payment.

The Different Types of Cryptocurrency Exchange

When we use the term cryptocurrency ‘exchange’, we refer to a range of cryptocurrency platforms, which include the following:

  • Brokers

  • Trading Platforms

  • Peer-to-Peer Exchanges

Best for: Novices and those who want a quick, easy method of buying crypto.

Downsides: Can be more expensive compared to other options and might not always offer as large a cryptocurrency selection.

Cryptocurrency brokers will typically offer the simplest, most convenient option for purchasing digital currency. Using a broker is easy, it is like buying your crypto from a shop. The broker will purchase digital tokens and coins at wholesale rates, add their own margins, and sell them to you.

If you are looking for a quick and easy way into the world of buying and selling crypto, a broker could be the best platform for you. They are designed to be easy for anyone to use and you can make payments with your credit or debit card.

Is it Safe to Store Your Cryptocurrency on an Exchange?

Most cryptocurrency exchanges automatically hold any crypto you purchase in their online wallet, within your account. You can leave your crypto in the wallet on the exchange, but it comes with the risk of the site being hacked. Since the crypto exchange controls the private key to that wallet, you don't have full control of your funds, and if the site is hacked, you can lose access to your crypto. 

A much better way to store crypto after buying it on an exchange, is transferring it to your personal wallet (a hot wallet app, or cold hardware wallet). Non-custodial crypto exchanges require you to already have a personal wallet when you buy crypto, and the coins you purchased will be sent straight to that wallet. 

Next Steps

There are so many different crypto exchanges to choose from and individual traders and investors have different requirements from their platform. This is why it’s important to research the best exchange for your personal needs, since the best exchange for one person might be not suit another. Check out in-depth reviews, compare features, fees, pros and cons of each exchange and determine how well they line up with your preferences and requirements.

Frequently Asked Questions

Can I use Binance in New Zealand?

Binance is the largest cryptocurrency exchange in the world by trading volume, and its popularity is due to low trading fees of 0.1% and over 600+ different cryptocurrencies. New Zealanders can use Binance, but currently it does not support deposits using NZD. You can deposit using another currency, or deposit cryptocurrency into Binance to take advantage of their low trading fees and other features such as staking.

Is cryptocurrency legal in New Zealand?

Yes, it is legal to buy, sell and trade cryptocurrency in New Zealand. However, they are not seen as legal tender or financial products, and so are not regulated in New Zealand.

Can I use Coinbase in New Zealand?

Yes, Coinbase is available to New Zealand residents. However, the capabilities are limited to buying and converting (trading one crypto for another). There is no option to sell your cryptocurrency on Coinbase if you live in New Zealand.

Why do I need to verify my identity on some crypto exchanges?

When you verify your identity, it is helping to prevent fraud, and ensures that it is really you and not someone else with your details making transactions under your name. Some crypto exchanges are also subject to strict regulations in relation to anti-money laundering and terrorism financing. By verifying your identity, they are complying with these regulations.

What is the most reliable crypto exchange in New Zealand?

Independent Reserve is the most reliable and trusted crypto exchange for Kiwis. It has been around since 2013, with multi-layered security and even optional insurance on crypto assets. provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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