Binance NZ

Binance NZ Review – New Zealand’s Crypto Guide (2024)

Binance NZ is a popular cryptocurrency exchange that has gained popularity New Zealand due to its user-friendly platform, low fees, and wide variety of cryptocurrencies available for trading.

Binance Exchange is one of the most popular and largest crypto exchanges in New Zealand and around the globe. Often referred to as ‘the leading trading platform for crypto’. Binance offers New Zealanders a wide range of trading options and tools. 

Binance NZ

Best Exchange for Advanced Traders

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.


Here at Cryptocurrency NZ, we have used Binance for over 4 years without 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 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. 


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.

What is Binance Exchange NZ?

Established in 2017 by software developer Changpeng Zhao, Binance initially operated in China and was a decentralized cryptocurrency exchange (Now a Centralized Exchange). As of 2022, Binance holds the distinction of being the largest exchange globally.

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 NZ’s General Manager is a key player in the Binance NZ ecosystem and also is a member on the Blockchain NZ council. 

As mention above Binance is an international exchange, headed and founded by Changpeng Zhao (CZ), one of the most well known crypto entrepreneurs in the world.

Binance NZ is in it’s early days, but is gearing for the long haul.

Cryptocurrencies Available on Binance NZ

Binance NZ provides a comprehensive selection of cryptocurrencies for trading, making it a prime choice for investors. Binance NZ hosts an extensive range of over 500 digital assets, encompassing renowned cryptocurrencies like BitcoinEthereum and Monero.

How to Buy Bitcoin 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.

Binance NZ Buy Bitcoin


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.

Binance NZ Bitcoin NZ

Choose your preferred payment method. Opt for [Card] and click [Confirm] to complete the purchase using a credit/debit card.

Binance NZ buy Card NZ

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].

Binance NZ Buy Amount Bitcoin (1)

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 Binance NZ Buy bitcoin 1000.

Binance NZ Exchange Fees

Binance offers some of the lowest fees in the cryptocurrency industry, making it an attractive option for New Zealanders looking to trade digital assets such as Bitcoin. 

Binance operates on a maker/taker fee structure, and fees are dependent on both trading volume and the user’s Binance Coin (BNB) balance. Generally, larger trades attract lower fees. This fee structure makes Binance Exchange a popular choice for traders.

Spot: 0.1000%Spot: 0.1000%
Futures USD: 0.0400%Futures USD: 0.0200%

More information on Binance exchange fees can be found here


Security on Binance Exchange

Binance takes security very seriously, implementing a range of measures to protect users accounts and assets. Here are some of the security features on Binance New Zealand:

  • Two-factor authentication (2FA): Binance Exchange supports 2FA using Google Authenticator, SMS, or email, which adds an extra layer of protection to user accounts.

  • KYC and identity verification: Binance requires users to complete a KYC verification process to prevent fraud and comply with anti-money laundering laws.

  • Secure server architecture: Binance Exchange uses a secure server architecture to prevent hacking and unauthorized access.

  • Anti-phishing measures: Binance warns New Zealanders of potential phishing attacks and educates them on how to identify and avoid them.

  • SAFU fund: Binance Exchange maintains a Secure Asset Fund for Users (SAFU) to protect users’ assets in the event of a security breach.

  • Multi-tier and multi-cluster system architecture: Binance uses a multi-tier and multi-cluster system architecture to ensure high availability and fast processing of trades.

While Binance has implemented a number of security features to protect user accounts and assets, its reputation has been a subject of concern in the past. Despite its efforts, the exchange has suffered a few security breaches, including a large-scale hack in 2019 that resulted in the loss of over $40 million in Bitcoin. ($379,584,768.96 NZD in todays value)

Opening a Binance Account in NZ

To open a Binance account in New Zealand, follow these steps:

  1. Go to the Binance website and click on the “Register” button.

  2. Enter your email address and create a strong password.

  3. Agree to the terms of use and click on “Create Account.”

  4. You will then receive a verification email from Binance. Click on the verification link in the email to activate your account.

  5. Once your account is activated, you can log in to Binance and set up two-factor authentication (2FA) for added security.

  6. 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.

  7. 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.

Binance Support nz

Customer Service

Binance offers a range of customer support options to assist New Zealanders with their inquiries and issues. Here are some of the customer support features available:

  • Help Center: Binance Exchange has a comprehensive Help Center that provides answers to frequently asked questions (FAQs) about trading, deposits and withdrawals, account security, and more. Located here.

  • Live chat: Kiwis can access Binance’s live chat support for immediate assistance.

  • Email support: Users can also contact Binance NZ’s customer support team via email

  • Social media: Binance maintains active social media accounts such as Twitter, where users can direct their inquiries and receive updates on the exchange’s services.

  • Community forums: Binance has a dedicated community forum where users can interact with each other, ask questions, and receive assistance from other users. 

Customer Satisfaction

Binance NZ has received mixed reviews on Trustpilot, with an average rating of 2 out of 5 stars across more than 2,000 reviews. While some users have praised the platform for its features and services, others have experienced issues with poor customer service.

Account Management

Binance offers several options for accessing its platform, including through a desktop browser, a downloadable desktop application, and mobile apps for iOS and Android devices that can be downloaded from the Apple and Google Play stores.

Once logged in, Binance’s dashboard provides New Zealanders with various tools to view charts, market trends, their portfolio, and their current and past trades.

Making deposits and withdrawals on Binance is straightforward and can be done by navigating to the “Spot Wallet”, selecting the asset you wish to purchase or withdraw, and following the on-screen instructions. Binance supports several cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, as well as fiat currencies such as USD and NZD.

Cryptocurrency NZ Icon

Cryptocurrency NZ Final Verdict

Binance NZ’s recent decision to discontinue certain cryptocurrency products reflects its adherence to evolving regulatory standards. While being a KYC-compliant and centralized exchange may differ from some decentralized principles, Binance New Zealand remains a top choice due to its commitment to security and a range 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. 

While the Binance platform may seem complex for novice cryptocurrency investors, it offers a wealth of possibilities for experienced Kiwi traders interested in exploring diverse tokens and trading options. Binance New Zealand is designed to cater to the evolving needs of the cryptocurrency community while maintaining a focus on security.

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Disclaimer: All content in this guide is intended for educational purposes only and should not be interpreted as financial advice. As an individual, you are entirely responsible for how you conduct your investments and manage your cryptocurrency interests. It is exclusively your own responsibility to perform due diligence and Cryptocurrency NZ recommends taking extreme care and caution with crypto and are not responsible for the outcomes, management, or oversight of your activities.