In this article, we present our top list of the best crypto exchanges and trading platforms in New Zealand gathered by our expert crypto team consisting of Bert, Liam, and Layla, who together have more than 20 years of experience in the field of crypto institutions and financial services.
They have reviewed and analyzed over 30 platforms suitable for the New Zealand crypto market and boiled it down to a list of the top 5 best picks.
Best crypto exchange and trading platform list
Ranking
Overview
Fee
1. BYDFi
Best over all for investing and trading
0.02%
2. BingX
Crypto copy trading
0.05%
3. Phemex
Good crypto trading app
0.06%
4. Coinbase
High security exchange
0.50%
5. Binance
Most supported altcoins
0.045%
(This article is not financial advice. Research before investing. Some links are affiliate links, earning us a commission without extra cost for you. Our content remains unbiased regardless of affiliates.)
Short summary
After extensive research, BYDFi is identified as the best crypto exchange and trading platform in New Zealand, offering top-notch security, a user-friendly interface, and a vast array of crypto offerings.
While BYDFi leads the market, BingX, Phemex, Coinbase, Binance, and Bybit present themselves as strong alternatives, each catering to specific trading needs and preferences.
In this article, we present an analysis of the top 6 crypto platforms in New Zealand for both traders and investors.
A more extensive analysis of each exchange can be found further down in this article, keep reading to learn more.
What is the best crypto exchange and trading platform in New Zealand?
To find the best platforms for Kiwii traders, it’s important to analyze the factors that matter most when it comes to safety and functionality for both investors and active day traders.
Our team has done extensive research on these data points in particular:
- Security protocols
- Support channels
- Trading tools
- Fees
- Withdrawals and deposits
- KYC requirements
- Payment methods (NZD)
- Platform features
- Government regulations
- Mobile usability
- User-friendly interface
1. BYDFi - Best for trading and investing overall New Zealand
Rating: 4.9/5
BYDFi overview
BYDFi is the best crypto exchange and trading platform in New Zealand. Designed with the modern trader in mind, it offers a seamless experience for New Zealand traders eager to dive into the crypto world. Imagine a platform that combines top-notch security, user-friendly interface, and a vast array of crypto offerings. That's BYDFi for you.
For instance, our crypto expert Bert, decided to test BYDFi's contracts and fees. He initiated a trade of 1 BTC and observed the contract execution and the associated fees. The contract was executed flawlessly at a 0.02% maker fee and he paid $6,80, and the fees were transparent and 12% cheaper than the competitors, aligning with the platform's promise.
Pros
- Advanced Security Protocols
- Mobile App Excellence
- Innovative Charting Tools
- 400+ listed coins:
- Perpetual Contracts
Cons
- Learning Curve for Beginners
- Limited Fiat Options
- Mobile App Regional Restrictions
What we like about BYDFi
BYDFi isn't just another name in the crypto exchange world; it's a testament to how an exchange should function. What truly sets it apart is its commitment to community feedback. Unlike many platforms that set their features in stone, BYDFi is ever-evolving, constantly adapting based on user feedback and needs.
This dynamic approach ensures that the platform remains relevant, user-friendly, and ahead of its competitors. It's this dedication to user-centric innovation that made us choose BYDFi for our blog post.
Features
- Cold Storage
- Biometric Authentication
- Customizable Dashboard
- AI-Powered Insights
- Cross-Platform Trading.
- Diverse Order Types
- Real-time Alerts
- API Integrations
- Educational Resources
- Multi-language Support
Fees
- Trading Fee: 0.02% maker and 0.06% taker
- Withdrawal Fee: Varies based on cryptocurrency
- Deposit Fee: Free for most cryptocurrencies
2. BingX - Best for crypto copy trading in New Zealand
Rating: 4.8/5
BingX overview
BingX ranks as the best social crypto exchange and trading platform in New Zealand. Designed for traders who wish to leverage the expertise of seasoned professionals, BingX offers a unique copy trading feature. Imagine being a newbie in the crypto world and having the ability to mirror the trades of experts.
For instance, crypto expert Liam, with 6 years of experience with crypto institutions, tested the BingX copy trading platform. He started with NZD 1,000. By copying top traders on BingX, which he mentioned was very easy, within 4 days, his portfolio grew by 8%, showcasing the platform's efficiency.
Pros
- Community Engagement
- High Liquidity
- Flexible Order Types
- Mobile App Excellence
- Customizable Dashboard
Cons
- Withdrawal Limits
- Lack of Fiat-to-Crypto Options
- Mobile App Glitches
- Copy Trading Dependency
What we like about BingX
What truly caught our attention was its commitment to community growth. While most platforms focus on individual growth, BingX emphasizes collective growth. The copy trading feature isn't just about making profits; it's about learning, understanding market dynamics, and growing together. This community-centric approach, often overlooked, is BingX's golden feather.
Features
- Robust Security
- Mobile App
- Copy Trading Interface
- Spot Trading
- Top Copy Traders
- Supported Cryptocurrencies
- Liquidity
- Customer Support
- Educational Resources
- API Integration
Fees
- Trading Fee: 0.05%
- Withdrawal Fee: Varies based on cryptocurrency (e.g., 0.0005 BTC for Bitcoin)
- Deposit Fee: Free for most cryptocurrencies
3. Phemex - Best crypto app in New Zealand
Rating: 4.7/5
Phemex overview
Phemex stands out as the best crypto trading app in New Zealand designed for New Zealand traders who want the convenience of trading crypto from their mobile phones, Phemex offers a seamless, user-friendly experience.
Imagine how Layla, a crypto expert with 7 years of experience in financial technology, decided to test the Phemex crypto trading app. After a week of trading, Layla found that the app's execution speed was unparalleled, with an average transaction time of just 1.2 seconds. This efficiency, combined with its robust features, makes Phemex a top choice for mobile crypto trading in New Zealand.
Pros
- Advanced security protocols ensure user funds are safe.
- Offers a demo trading feature, allowing new users to practice without risking real money.
- Provides a unique cold wallet system, ensuring maximum protection against online threats.
- High liquidity, ensuring smooth trading even for large volume trades.
- Offers a comprehensive educational section for beginners.
Cons
- Limited fiat currency options for mobile.
- The user interface, while intuitive, might be overwhelming for absolute beginners.
- Withdrawal fees can be higher than some competitors.
- Limited customer support channels.
What we like about Phemex
Phemex stands out not just for its top-tier features but for its commitment to user education. While many platforms offer resources, Phemex goes the extra mile with a comprehensive educational section tailored for beginners. This shows the platform's dedication to not just facilitating trades but also empowering its users with knowledge.
It's a refreshing approach in a market saturated with platforms that focus solely on transactional relationships. Phemex's emphasis on education, combined with its advanced security and efficient trading, makes it a unique and valuable platform for New Zealand traders.
Features
- Security
- Mobile App
- Order Types
- Fiat Options
- Mobile Security
- Supported Cryptocurrencies
- Functionality
- User Experience
- Educational Resources
- Customer Support
Fees
- Spot Trading: Maker 0.1%, Taker 0.25%
- Contract Trading: Maker -0.025%, Taker 0.075%
- Withdrawal fees vary based on the cryptocurrency but can be on the higher side.
4. Coinbase - Most secure crypto exchange in New Zealand
Rating: 4.6/5
Coinbase overview
Coinbase is the top exchange for New Zealand traders eager to buy crypto using bank transfers, bank cards, or any local payment method. It stands out as the best exchange to buy crypto with fiat in New Zealand. Imagine walking into a digital marketplace, where buying your favorite cryptocurrency is as easy as buying a cup of coffee, that is Coinbase in a nutshell.
Crypto expert Bert decided to test out Coinbase. He invested NZD 1,000 in Bitcoin. Within a week, during the latest Bitcoin rally, his investment grew to NZD 1,150 and he was able to cash out the profit for NZD easily. The cost for this investment was 0.50% of the total capital for converting from USD to BTC which equals $5. The cost for withdrawing the funds to the bank account was $25 NZD.
Pros
- High Security
- Diverse Portfolio
- Educational Resources
- Recurring Buys
- Staking
Cons
- Withdrawal Delays
- Customer Service
- Limited Advanced Features
- Regional Restrictions
- Price Discrepancies
What we like about Coinbase
While many platforms offer trading, Coinbase goes a step further by fostering a community. Their commitment to educating users, especially beginners, is commendable. They offer a plethora of resources, from beginner guides to advanced trading strategies.
This focus on education, combined with their user-friendly interface, makes them stand out. It's not just about trading; it's about understanding, learning, and growing in the crypto world.
Features
- Vault Protection
- Mobile Wallet
- USD Coin (USDC)
- Crypto Rewards
- Coinbase Pro
- API Integration
- Crypto-to-Crypto Trading
- Secure Storage
- Insurance
- Instant Exchange
Fees
- Standard Buy/Sell: 0.50% up to 1.49%
- Credit/Debit Card Buys: 3.99%
- Bank Transfers (ACH): Free
- Bank Wire Transfers: $10 ($25 outgoing)
5. Binance - Best exchange for altcoin trading New Zealand
Rating: 4.5/5
Binance overview
Binance is the go-to platform for New Zealand traders keen on altcoin trading. Why? Simply put, it's the best exchange to trade altcoins in New Zealand. Binance offers a vast array of altcoins, a user-friendly interface, and advanced trading tools that cater to both beginners and seasoned traders.
Crypto expert Liam decided to test Binance's capabilities. Starting with 500 NZD and 1:20 leverage in the futures pit, he traded various altcoins with leverage. By the end of the day, leveraging his trades up to $10,000 per lot, Liam's portfolio showed a 15% increase, netting him a profit of 75 NZD. The fees for each transaction were around 0.05% and he took 20 trades during the test which equals a total trading fee of 10 NZD.
Pros
- Diverse Altcoin Selection
- Advanced Security Measures
- Customizable Interface
- Staking Options
- Peer-to-Peer (P2P) Trading
Cons
- Complex for Beginners
- Withdrawal Limits
- Customer Support Delays
- Leverage Risks
- Occasional System Overloads
What we like about Binance
Binance isn't just another crypto exchange; it's a community. What truly sets Binance apart is its commitment to educating its users. Through Binance Academy, traders can access a plethora of articles, tutorials, and videos on various crypto topics. This dedication to user education, often overlooked by other platforms, ensures that traders are well-equipped to make informed decisions.
Features
- Binance Futures
- Binance Earn
- Spot & Margin Trading
- Mobile App
- Binance Smart Chain
- Binance Card
- Binance Launchpad
- Binance DEX
- Cross-chain Transfer
- Binance Labs
Fees
- Spot trading: 0.10% (both maker and taker)
- Withdrawal fees vary based on the cryptocurrency.
- 10% discount on trading fees for users paying with BNB (Binance Coin).
What is a New Zealand crypto exchange?
A New Zealand crypto exchange is a digital platform where individuals can buy, sell, and trade cryptocurrencies using New Zealand dollars (NZD). These exchanges are specifically tailored to cater to the needs and regulations of the New Zealand market. Just like traditional stock exchanges, crypto exchanges in New Zealand act as intermediaries, bringing together buyers and sellers in a secure environment.
One of the distinct features of New Zealand crypto exchanges is their adherence to local regulations. The Financial Markets Authority (FMA) in New Zealand has set guidelines for crypto exchanges to ensure the safety and security of users' funds.
Can you buy crypto in New Zealand?
Buying cryptocurrency in New Zealand has become increasingly straightforward over the years. The country has seen a surge in the adoption of digital currencies, and this has been reflected in the rise of local exchanges and trading platforms catering to Kiwi investors.
From my personal experience, I've found that the crypto infrastructure in New Zealand is robust and user-friendly. I remember when I first started trading a few years ago; the options were limited and often required going through international platforms.
Pros and cons of buying crypto
From my personal experience and extensive research in the crypto space, buying cryptocurrencies can be both rewarding and challenging.
Here's a breakdown of the advantages and disadvantages.
Pros:
- Potential for High Returns
- Diversification
- Decentralization
- Innovation and Evolution
Cons:
- Volatility
- Lack of Regulation
- Technological Barriers
- Environmental Concerns
Is crypto legal in New Zealand?
Cryptocurrency is legal in New Zealand. The country has taken a progressive approach towards crypto, recognizing it as a legitimate form of payment. In fact, in 2019, the New Zealand Inland Revenue Department (IRD) made headlines by allowing employers to pay salaries in cryptocurrency, subject to standard income tax rules. This move showcased New Zealand's forward-thinking stance on digital currencies.
However, it's essential to note that while crypto transactions are legal, they are also subject to specific regulations. For instance, crypto exchanges operating in New Zealand must adhere to the country's Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) laws. This ensures that the crypto ecosystem remains transparent and reduces illicit activities.
What are the different types of crypto exchanges?
Cryptocurrency exchanges are platforms where individuals can buy, sell, or trade cryptocurrencies. From my experience, they can be broadly categorized into three types:
- Centralized Exchanges (CEXs)
- Decentralized Exchanges (DEXs)
- Peer-to-Peer (P2P) Exchanges
How to choose crypto exchange in New Zealand
Choosing the right crypto exchange in New Zealand is crucial for a seamless trading experience.
Here's a guide to help you make an informed decision:
- User Experience: Always evaluate from a user's perspective. A platform with an intuitive interface and easy navigation is essential. For instance, I found BYDFi to have a user-friendly dashboard.
- Security: Ensure the platform uses advanced security measures. Coinbase uses 2FA and cold storage, which I've personally found reliable.
- Trading Volume & Liquidity: High trading volumes often indicate a trusted platform.
- Fees: Some exchanges have hidden fees.
- Supported Cryptocurrencies: Not all exchanges support every cryptocurrency. Depending on your trading needs, choose a platform that supports your desired coins.
- Customer Support: In my experience, BYDFi offers 24/7 support, which proved invaluable during a transaction hiccup.
- Local Regulations: Ensure the exchange complies with NZ regulations.
- Reviews & Reputation: Check out forums and community feedback.
- Unique Features: Some platforms offer features like staking or futures trading. Determine what's essential for you.
- Evolution: Platforms like BYDFi have evolved over time, adding features based on user feedback.
Our review methodology
When it comes to evaluating the best crypto exchanges and trading platforms in New Zealand, we've taken a meticulous approach to ensure you get the most accurate and unbiased information.
Here's a breakdown of our methodology:
- User Perspective
- Expertise
- Evidence
- Quantitative Measurements
- Unique Features
- Comparisons
- Pros and Cons
- Evolution
- Design Choices
- Resourceful Links
- Purchase Options
- Best Recommendations
By adhering to this methodology, we aim to offer a comprehensive guide that empowers you to choose the best crypto exchange or trading platform for your needs in New Zealand.
FAQ
What is the best way to buy crypto in New Zealand?
The best way to buy crypto in New Zealand is through reputable exchanges like BYDFi or global platforms like Binance and Coinbase.
Does Binance work in New Zealand?
Yes, Binance operates in New Zealand and offers a variety of cryptocurrencies for trading to Kiwi users.
How do I cash out crypto in NZ?
You can cash out crypto in NZ by selling it on local exchanges like EasyCrypto, which offers NZD withdrawals directly to your bank account.
Does Coinbase work in New Zealand?
Yes, Coinbase is accessible to New Zealand residents, allowing them to buy, sell, and manage their cryptocurrency portfolio.
Does New Zealand use trust wallet?
Trust Wallet is available for New Zealand users as a popular mobile crypto wallet, but its usage depends on individual preferences.
Does New Zealand tax cryptocurrency?
Yes, New Zealand taxes cryptocurrency gains. It's essential to keep records of your transactions for tax purposes.
Can you withdraw money from Binance in New Zealand?
Yes, you can withdraw NZD from Binance to your local bank account in New Zealand.
What is the safest crypto exchange in New Zealand?
BYDFi is often regarded as one of the safest crypto exchanges due to its user-friendly interface and robust security measures.
What is the most secure crypto trading platform?
Globally, platforms like BYDFi and Coinbase are considered secure due to their extensive security protocols and insurance policies.
Conclusion
For New Zealand traders, our extensive research and analysis have identified BYDFi as the best crypto exchange and trading platform in New Zealand. Its unparalleled security, user-friendly interface, and diverse crypto offerings make it a top choice.
However, the crypto world is vast, and while BYDFi leads the pack, platforms like BingX, Phemex, Coinbase, Binance, and Bybit emerge as commendable alternatives. Each offers unique features catering to different trading needs. As always, we recommend conducting personal research and considering individual preferences before making any decisions. Happy trading!
About the authors
Bert, Liam, and Layla form the backbone of our expert crypto team. With a combined experience of over 20 years in crypto institutions and financial services, they bring a wealth of knowledge and firsthand experience.
Bert, with his keen eye for security protocols, has worked with leading crypto security firms. Liam, a seasoned trader, has been at the forefront of crypto institution strategies, while Layla's expertise lies in financial technology and platform usability.
Together, they've delved deep into the world of crypto exchanges, ensuring that our readers get the most accurate, unbiased, and comprehensive reviews. Their dedication to the crypto community is evident in their rigorous analyses, ensuring that New Zealand traders are well-equipped to make informed decisions.
