Known and relied upon by thousands around New Zealand, Binance NZ stands as the largest crypto exchange worldwide in terms of trading volume and kiwi community.
If you’re considering diving into the realm of crypto for the first time, Binance New Zealand is an excellent starting point. You can easily create a Binance NZ account and buy cryptocurrencies using New Zealand Dollars (NZD) in just a few minutes.
Binance NZ
Best Place to Buy Crypto in NZ
Binance, the world’s largest crypto exchange, is a highly popular platform for Kiwis interested in crypto trading in NZ. Binance offers over 1400 trading pairs, such as NZD to BTC, with some of the lowest fees in the industry.
Website: www.binance.com/nz
Why We Recommend Binance NZ
Here at Cryptocurrency NZ, we have used Binance for over 4 years without any issues.
Binance is the world’s largest crypto exchange, accounting for over 40% of the total crypto market’s trade volume. They have world class platform, access to liquidity, a plethora of coins to trade and are known to be reliable and secure.
They are however still a centralized exchange and the age old ‘not your keys, not your crypto’ still applies. We don’t recommend storing large amounts of coin long term on exchanges and instead recommend using a hardware wallet.
If you’re a day trader, looking to swing trade or practice technical analysis and chart drawing, Binance is very solid.
Pros & Cons
Pros of Binance NZ
✔️Plethora of coins: Humongous selection of cryptocurrencies available for trading.
✔️ Competitive Rates: Famously low trading fees, especially for high-volume traders and those who hold BNB.
✔️ SAFU Fund: Binance has a “SAFU’ fund to protect users in the event of a security breach or hack. Learn more.
✔️ Registered in NZ: Binance is a registered Financial Service Provider in NZ.
✔️ Advanced Features: Offers world class trading tools and charts.
✔️ IOS & Android: Mobile apps available for trading on-the-go.
Cons of Binance NZ
❌ Regulatory exposure: Ongoing regulatory scrutiny and potential for government restrictions.
❌Mixed Reviews: Some negative user reviews and complaints about poor customer service.
❌ High withdrawal fees: Withdrawing some coins can be higher than fifty dollars, depending on market prices.
❌ Customer Support: Limited customer support during high-traffic periods
❌ Centralized Exchange: Potential for hacking or security breaches.
❌ KYC: You have to verify your identity in order to buy or sell. This data is then passed on to the government.
Reputation
Binance has has over 6,000 staff globally, and since registering in Zealand in September 2022 as a Financial Services Provider, they have invested heavily into marketing, complying with NZ regulations and developing an NZ based team.
Ben Rose, Binance’s CEO is a member on the Blockchain NZ council, and many of the Binance NZ team are public.
Binance is an international exchange, headed and founded by Changpeng Zhao (CZ), one of the most well known and trusted crypto developers and entrepreneurs in the world. Binance NZ is in it’s early days, but is gearing for the long haul.
Opening a Binance Account in NZ
To open a Binance account in New Zealand, follow these steps:
Go to the Binance website and click on the “Register” button.
Enter your email address and create a strong password.
Agree to the terms of use and click on “Create Account.”
You will then receive a verification email from Binance. Click on the verification link in the email to activate your account.
Once your account is activated, you can log in to Binance and set up two-factor authentication (2FA) for added security.
To start trading on Binance, you will need to deposit funds into your account. Click on “Deposit” and select the cryptocurrency you wish to deposit. Binance supports several cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Once you have deposited funds into your Binance account, you can start trading by selecting the trading pair you wish to trade and placing an order.
How to Buy Bitcoin & Crypto on Binance NZ
The primary method for acquiring cryptocurrency on Binance with New Zealand Dollars (NZD) involves utilizing a credit/debit card to deposit funds into your Spot wallet. This approach is particularly user-friendly, especially for those new to the platform.
Sign in to your Binance account and select [Buy Now] from the homepage.
Choose from a variety of fiat currencies to buy crypto. Enter your desired fiat amount, and the system will instantly reveal the corresponding cryptocurrency quantity. In this illustration, we’ll use 100 EUR to acquire BTC. Click [Buy] to proceed.
Choose your preferred payment method. Opt for [Card] and click [Confirm] to complete the purchase using a credit/debit card.
To add a new card, click [Add New Card] and input your card information. Complete the process by clicking [Confirm].
Once your card has been added, proceed by clicking [Confirm].
Review the payment details and confirm your order within the specified time. Following this, the system will recalculate the price and the amount of cryptocurrency available, automatically refreshing the quote. To finalize your order, click 
.
Cryptocurrency NZ Final Verdict
The choice made by Binance NZ to discontinue specific cryptocurrency products is a testament to its dedication to keeping up with changing regulatory standards.
Even though being a KYC-compliant and centralized exchange may deviate from certain decentralized principles, Binance New Zealand continues to be a leading option, thanks to its unwavering commitment to security and a diverse array of services.
We recommend Binance NZ for its secure spot trading capabilities and seamless buy-and-sell options. One feature we appreciate is Binance P2P, a convenient avenue for selling cryptocurrencies for NZD, offering a user-friendly experience to meet your trading needs.
Although Binance’s platform may appear intricate to novice investors, it stands as a versatile playground for experienced Kiwi traders, offering a diverse range of tokens and trading possibilities. Binance NZ, designed to adapt to the dynamic needs of the NZ crypto community, prioritizes both innovation and security, making it an excellent choice for those looking to navigate the world of digital assets with confidence and convenience.
