Cryptocurrency exchanges are one of the best ways to buy, sell and trade crypto in NZ. Popular cryptos that Kiwis buy, sell and trade include Bitcoin, Ethereum and Dogecoin.
There are over 200 exchanges in the world to choose from and Cryptocurrency NZ combed through the leading players to determine the best crypto exchanges in NZ.
If you are new to crypto, we recommend starting with our what is cryptocurrency guide before diving straight in. 👍
How to Buy Cryptocurrency in NZ – Step-by-Step Guide (2023)
How to Buy Bitcoin in NZ – Step-by-Step Guide (2023)
What is a Cryptocurrency Exchange In NZ?
A cryptocurrency exchange is a platform that facilitates the buying, selling, and trading of digital currencies such as Bitcoin, Ethereum, Litecoin, Monero, Dogecoin and others.
In New Zealand, there are several exchanges that allow you to exchange crypto using NZD.
Types of Cryptocurrency Exchanges In NZ
A centralized cryptocurrency exchange (CEX) is the most popular means in New Zealand for buying, selling, and trading digital assets such as Bitcoin, Ethereum, and Litecoin.
These exchanges, such as Dasset, Bybit, and Binance are owned and operated by private companies and offer user-friendly interfaces for trading various cryptocurrencies.
To comply with regulatory requirements in New Zealand, centralized exchanges follow the Know Your Customer (KYC) guidelines, which require users to register and provide their identity. This helps prevent money laundering and other illegal activities on the exchange.
An interesting argument against KYC can be found here.
A decentralized exchange (DEX) is a type of cryptocurrency exchange that operates on a decentralized blockchain network, rather than on a central server owned and operated by a single entity. In New Zealand, decentralized exchanges allow users to trade crypto without intermediaries or central authorities, offering users more control over their digital assets.
Unlike centralized exchanges, DEXs do not require users to deposit their funds onto the exchange’s wallet, and users have complete control over their private keys, making them less vulnerable to hacking and other security breaches.
Some popular decentralized exchanges in New Zealand include Uniswap, PancakeSwap, and Kyber Network. These platforms offer a wide range of trading pairs and low fees, making them an attractive option for traders looking for greater privacy and security.
Other Crypto Exchange Options In NZ
In addition to centralized and decentralized exchanges, there are other cryptocurrency exchange options available to users in New Zealand. Some of these include:
Peer-to-peer (P2P): P2P platforms allow users to buy and sell cryptocurrencies directly with each other, without the need for a central authority or intermediary. These platforms can offer users more privacy and flexibility, but they may have lower liquidity and higher transaction fees than centralized exchanges. (NZ’s own P2P marketplace)
Brokerages: Cryptocurrency brokerages operate like traditional stock brokers, allowing users to buy and sell cryptocurrencies at a set price. Brokerages can be a good option for beginners who are new to cryptocurrency trading. (Easycrypto is the safest, fastest and easiest to buy Bitcoin and Ethereum)
OTC (Over-the-Counter) exchanges: OTC exchanges are designed for high-volume traders and allow users to buy and sell large amounts of cryptocurrency without affecting the market price. These exchanges typically have higher fees than other types of exchanges, but they can offer greater liquidity and flexibility.
Best Crypto Exchanges in NZ
⭐Cryptocurrency NZ Recommendation
Dasset is a New Zealand-based cryptocurrency exchange that was founded in 2017. The exchange offers users a platform to trade a range of digital assets, including Bitcoin, Ethereum, Litecoin, Ripple, and more.
Dasset also offers several trading pairs that are tied to the New Zealand Dollar (NZD), making it a convenient platform for users in New Zealand.
|✔️ New Zealand-based: As a New Zealand-based exchange, Dasset offers local support and compliance with NZ regulations.||❌ Limited coin selection: Dasset currently only supports a handful of cryptocurrencies, which may not be sufficient for those looking to trade more exotic altcoins or tokens.|
|✔️ Easy to use: Dasset offers a user-friendly interface, making it simple for beginners to get started with cryptocurrency trading.||❌ Limited trading volume: Dasset has lower trading volume compared to larger exchanges.|
|✔️ Low fees: Dasset has some of the lowest trading fees among New Zealand-based exchanges, which can make it an attractive option for cost-conscious traders.||❌ Limited payment options: Dasset currently only supports bank transfers, which may not be as convenient as other payment methods like credit cards or online payment systems.|
|Taker fee||Maker fee|
|Limit Orders - National currency markets||0.35%||0.33%|
|Limit Orders - Digital asset markets||0.10%||0.08%|
|Market Orders & Retail||1.00%||1.00%|
Detailed version of Dassets fees can be found here.
Bybit is a cryptocurrency derivatives exchange that allows users to trade a variety of cryptocurrency derivatives, including perpetual contracts and futures contracts. Bybit was founded in March 2018 and is headquartered in Singapore.
The exchange supports a number of cryptocurrencies, including Bitcoin, Ethereum, Ripple, EOS and Bitcoin Cash, among others. Bybit is known for its user-friendly interface, advanced trading tools, and high liquidity, making it a popular choice.
|✔️ Variety of trading options: Bybit offers a wide range of cryptocurrency derivatives to trade, including perpetual contracts and futures contracts, allowing New Zealanders to diversify their portfolio.||❌ Regulatory uncertainty: Cryptocurrency trading is not yet regulated in New Zealand, which means there is some uncertainty regarding the legal status of Bybit's services in the country.|
|✔️ User-friendly interface: Bybit's trading platform is known for its easy-to-use interface, making it accessible for novice traders to use.||❌ Risk of volatility: Crypto is known for the volatility, which means that traders using Bybit may be exposed to significant market fluctuations.|
|✔️ High liquidity: Bybit has high trading volumes, which means kiwis can buy and sell cryptocurrencies quickly and easily.||❌ High risk: Trading cryptocurrency derivatives is a high-risk activity, and traders should be aware of the potential losses they could incur.|
|✔️ Advanced trading tools: Bybit provides a range of trading tools and indicators to help traders analyze the market and make informed decisions.||❌ Limited payment options: Bybit currently only accepts Bitcoin and USD deposits, which may be a disadvantage for New Zealanders who prefer to use other payment methods.|
|Bybit Derivatives Fee: 0.06%||Bybit Derivatives Fee: 0.01%|
|Bybit Spot Fee: 0.10%||Bybit Spot Fee: 0.10%|
More information on Bybit fees can be found here.
Binance is one of the largest centralized cryptocurrency exchanges in the world. The exchange was founded in 2017 and has since grown to offer users a platform to trade over 500 digital assets, including Bitcoin, Ethereum, Binance Coin, and many more. Binance is known for its low trading fees, high liquidity, and advanced trading features, including margin trading, futures trading, and staking.
|✔️Wide range of tokes: Binance supports a huge range of tokens, which gives New Zealanders access to a diverse range.||❌ Regulatory uncertainty: Cryptocurrency regulation in NZ is still uncertain, which can create a level of risk for users of the platform.|
|✔️ Low trading fees: Binance has some of the lowest trading fees in the industry, which can be a significant advantage for frequent traders.||❌ Limited payment options: Binance has limited payment options for New Zealanders, with bank transfers being the primary payment method.|
|✔️ High liquidity: Binance has a high trading volume, which means there is high liquidity on the platform. This makes it easier to buy and sell cryptocurrencies quickly.||❌ Security risks: As with any cryptocurrency exchange, there is a risk of hacking and theft. Binance has implemented security measures to mitigate these risks, but there is still a risk involved.|
|✔️ User-friendly interface: Binance has a user-friendly interface, which makes it easy for beginners to navigate and trade cryptocurrencies.||❌ Customer support: Some users have reported issues with Binance's customer support, which can be frustrating if you encounter any issues with the platform.|
|Spot: 0.1000%||Spot: 0.1000%|
|Futures USD: 0.0400%||Futures USD: 0.0200%|
More information on Binance exchange fees can be found here.
How to Pick the Best Exchange in NZ?
Choosing the best crypto exchange in NZ can be a daunting task, given the numerous options available. Here are some factors to consider when selecting an exchange:
Security: Look for an exchange that has robust security measures in place, such as two-factor authentication, cold storage, and regular security audits.
Trading Fees: Trading fees can vary significantly between exchanges, so make sure to compare fees and choose an exchange that offers competitive rates.
Supported Coins: Consider the range of digital assets supported by the exchange and ensure that it offers the coins you are interested in trading.
Payment Methods: Check whether the exchange supports the payment methods you prefer, such as bank transfers, credit cards, or other payment options.
Customer Support: A reliable and responsive customer support team can be invaluable in resolving issues or answering questions that arise during the trading process.
There are numerous crypto exchanges in NZ to choose from, and individual traders and investors have different needs from their platform. However after exploring the options above Cryptocurrency NZ believe Dasset and Bybit are best suited for kiwis.
This is why it’s critical to research the best exchange for your specific needs, because what works for one person may not work for another. Examine detailed reviews, compare the features, fees, pros and cons of each exchange, and determine how well they match your preferences and requirements.