Find the best crypto trading platform or app for low fees, beginners, trading features and more.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Each year, Finder® conducts an extensive review of the crypto exchanges and trading platforms available in New Zealand. To arrive at these picks, Finder evaluates more than 25 platforms on user experience, fees, payment methods, selection of coins and more.
When deciding on the best crypto trading platform for your needs, think about what you plan on using it for. It’s quite common to use multiple exchanges to benefit from their different areas of specialty, like using one for its range of coins and another for access to NFTs or crypto staking services.
Read more about our “best for” selections for a helpful head start.
Our selection of best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards but is updated by our editorial team throughout the year to reflect changes in the market.
The platforms we've picked are those we've evaluated to be the best for certain product features or categories – you can read more in our full methodology. If we show a "Promoted" pick, it's been chosen from among our commercial partners and is based on factors that include special features or offers and the commission we receive.
Keep in mind that these picks are suggestions and that the exchange that is best for you will depend on your individual needs. There are other products on the market not included in our picks.
Receive $10 BTC on sign-up and verification. T&Cs apply.
Swyftx accommodates beginner investors, advanced traders, yield earners and those looking to learn more about cryptocurrencies and blockchain technology. It's this variety of features that helped Swyftx take the 2022 Finder Award for Best Crypto Exchange in NZ.
Investing in crypto with Swyftx is simple. After setting up your account, you can start trading your favourite coins and tokens. There are more than 300 popular cryptos to choose from, each with a detailed guide on the crypto as well as website and social media links for the project.
Swyftx also provides charting tools to help visualise the market through price changes, market cap and rankings. If you're unfamiliar with charting and indicators or would like a deeper dive into the technology behind your investment, Swyftx has you covered. Swyftx Learn offers an abundance of useful resources and articles available — there are even quizzes to test your knowledge.
With Swyftx, you'll get 24/7 customer support as well as top-tier security features and compliance with the Financial Market Authority's (FMA) registration requirements.
Pros
Mobile app and web browser-enabled
Supports 300+ popular coins and tokens
Earn APY on selected cryptos
Get a free demo trading account
Access educational tools through Swyftx Learn
Cons
Lower liquidity than some global competitors
Higher fees than some global competitors
NZD$10 processing fee for withdrawals
No derivatives trading
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card, POLi, PayID
Easy Crypto is a popular choice for Kiwis looking for a simple way to instantly purchase crypto. Its beginner-friendly approach to crypto investing has earned it the 2022 Finder Award for Best Crypto Broker in New Zealand.
To get started with Easy Crypto, simply create an account via email or social media and verify your information for the standard Know Your Customer (KYC) process. Once your account is set up and funded, you can instantly swap NZ dollars for cryptocurrency using the quick buy/sell feature.
Popular cryptos and top gainers are displayed in a priority block, helping you to discover potential market movers at a glance. And, if you ever need help, you can get in touch with Easy Crypto's local customer support team.
Once you've made some swaps, you can check your trading history, view your profits/losses report via the portfolio dashboard and generate a tax summary for EOFY reporting.
Pros
150+ coins supported
Supports auto-buy orders
Learn as you go through the educational hub
Generate simple tax summaries
NZ-based customer support
Cons
Popular trading pairs like USDT and other stablecoins not available
No staking or earning features available
Limited to just simple coin and fiat swaps &ndash
no advanced features
Deposit methods
Bank transfer, Credit card, Debit card, POLi, Account2Account
Deposit fees
None
Withdrawal fees
None
Trading fees
0.5-1.8%
3. Independent Reserve – Best exchange for beginners
Independent Reserve, another Australian-founded crypto exchange, offers a suite of simple-to-use features for crypto newcomers, cementing its place as a top choice for beginner investors.
Key features of the Independent Reserve platform include its simple sign-up process, beginner-friendly user interface and one-click crypto purchases.
Once signed up, you're able to purchase dozens of cryptos in NZ dollars using SWIFT or PayID and other NPP options if you've got an Australian bank account.
Independent Reserve's security track record is particularly noteworthy — it's one of only a handful of exchanges to achieve ISO 27001 certification. More than 97% of user funds are held safely offline in cold storage, it conducts regular penetration testing and offers bug bounties – all to help ensure the safety of cryptocurrencies held on the exchange.
Pros
Mobile app and web browser-enabled
30 supported coins
Competitive trading fees
24/7 customer support
Built-in crypto wallet
Cons
Fewer coins than some competitors
No earn or staking features
Deposits under NZD$5,000 incur a NZD$15 processing fee
NZD$20 fee for withdrawals
Deposit methods
Cryptocurrency, Osko, PayID, EFT, SWIFT
Deposit fees
Cryptocurrency: Free None for deposits over NZ$5,000 equivalent $15 for deposits under NZ$5,000 equivalent Assisted transfer fee: $20
Withdrawal fees
NZD withdrawals: $20 Cryptocurrency: Fees vary Assisted transfer fee: $20
Get a 10% discount on fees when you sign up through Finder. T&Cs apply.
High trading fees and slippage can be costly for active traders. Binance offers low-fee trades and deep liquidity, making it our standout crypto exchange for value.
While many smaller exchanges offer a fixed rate maker/taker fee across all trading pairs, Binance's trading fees are based on a tiered structure. Spot market fees start at Regular User rates of 0.100% and decrease incrementally based on VIP status. VIP status is dictated by monthly trading volume and BNB balance.
If you have traded on smaller, less liquid exchanges, you may have fallen victim to slippage – when you buy/sell at market price only to realise your order was filled at a less favourable price. Thanks to Binance's enormous global userbase, there are plenty of orders at any given time, giving you precise control over your trades and keeping fees low.
By paying fees in Binance Coin (BNB), traders are eligible for an additional 25% discount on spot trading and 10% off futures trading.
Pros
Competitive fees
Deep liquidity and high volume
350+ cryptocurrencies to choose from
25% discount on trading fees when paying with BNB
Mobile app and web browser
Zero-fee trading for Bitcoin and Ethereum spot market pairs
Cons
High monthly trading volume and BNB balance required to achieve increased VIP status
Less beginner-friendly than some local exchanges
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Receive $10 BTC on sign-up and verification. T&Cs apply.
Swyftx is our pick for the best crypto app due to its simple interface and mobile-friendly functionality.
The Swyftx mobile app offers a comprehensive user experience with all the same features supported on the desktop exchange.
Once you've signed up for Swyftx and completed the KYC verification process, you're ready to start investing, trading and earning on the go.
The mobile app is available for download via the App Store or Google Play. You can quickly view your assets and earning history, watch the market and even place trades.
Local Australian customer support and low fees are also part of the Swyftx mobile trading experience.
Pros
Simplified dashboard &ndash
quickly view your assets and their performance
Over 300 cryptos available to buy, sell and trade
Swyftx paper trading &ndash
test setups and strategies on the go
Cons
Mobile charting is less comprehensive than some competitor apps
Order types are limited to market buy and sells
Beginner-oriented UX &ndash
advanced traders may prefer a tier-1 global exchange
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card, POLi, PayID
Get a 10% discount on fees when you sign up through Finder. T&Cs apply.
Binance has one of the largest lists of cryptocurrencies available to Kiwis. It offers markets for more than 350 cryptocurrencies and 1000+ trading pairs.
Binance is constantly expanding its offerings, with new trading pairs and cryptocurrencies often listed weekly. Investors looking for exotic, low-cap coins and tokens will likely find what they need on Binance.
Binance also has a unique 'Fan Token' platform for fans of Formula 1 and soccer. Investors can buy tokens for a specific club and receive benefits such as exclusive NFTs, badges and fan experiences.
Pros
Huge range of altcoins available for buying, selling, trading and earning
Low spot market fees &ndash
0.1% or less
Access to unique offerings such as fan tokens and NFTs
Cons
High fees for debit and credit card purchases
Not every coin is supported in Binance's earning hub
Earn rates are tiered and can quickly decrease
Less beginner-friendly than some alternatives
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Nexo's earn platform allows investors to earn yield on a wide variety of digital assets.
Yield rates compound daily, with the option to lock up cryptos over a fixed or variable term deposit. The Nexo platform features a crypto yield calculator to estimate returns over specific periods and help optimise your investment strategies.
Although advertised yield rates are high, they can vary depending on the crypto you choose to lend and how you receive your returns.
Customers who opt to receive rewards in the platform's native token, NEXO, are incentivised via higher return rates. Always use the yield earning calculator to better understand your rates and APR before making any deposits.
Nexo's earn platform uses an over-collateralised lending model. This means that borrowers have to deposit a greater value of assets than they are borrowing. So for instance, for every $1 they deposit they can only borrow 50 cents. This reduces the risk for lenders as well as for the platform.
Nexo also offers an insurance policy through partnerships with BitGo, Ledger Vault, Bakkt and other custodians who are backed by Lloyd's of London.
Pros
Beginner-friendly platform with consistently competitive APYs
Earn yield on fiat deposits as well as crypto
Industry-leading security standards and insurance policies
Offers exchange services and a debit card for spending crypto
Cons
Must hold a percentage of portfolio in NEXO to receive highest APY
Less yield-earning cryptos than some competitors
Deposit methods
Bank transfer, Cryptocurrency, Wire transfer, Credit or Debit Card
Crypto.com was our pick for the best NFT exchange because it makes buying NFTs simple. You can connect your existing Crypto.com account via the web browser or through the mobile app.
Once connected, you can start trading NFTs right away. You can browse popular collections and upcoming drops and even read about the content creator and their inspiration behind the piece. You can also register as a creator and mint your own NFTs directly to the Crypto.com native blockchain, Cronos.
All NFTs on Crypto.com are verified. This means that scams and fake NFTs are a lot less common than on other platforms. Crypto.com features digital collections from large and reputable brands including Aston Martin and Paris Saint-Germain.
Depending on the listing type, you can submit a bid at auction or purchase NFTs at a fixed sale price. Email subscription is also supported – you can opt to receive a notification anytime there's an upcoming drop.
Pros
Verified NFT artists and collections
NFTs minted on the Crypto.com native blockchain
Purchase NFTS with crypto or fiat
Mobile and web browser compatible
Cons
Does not support NFTS on all blockchains
Fewer NFTs collections than competitor NFT platforms
Payouts must be requested and approved before receiving sale funds to your Crypto.com wallet
Deposit methods
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay
Deposit fees
None
Withdrawal fees
Cryptocurrency: Fees vary
Trading fees
Maker: 0.00-0.75% Taker: 0.05-0.75%
Why you can trust Finder's crypto experts
We're free
Our comparison tables are completely free to use. We link you directly to the platform's secure sign-up page and often have offers you won't find elsewhere.
We're experts
We've researched and rated dozens of exchanges for our Crypto Trading Platform Awards and are often called upon to comment in media.
We're independent
We're not owned by an exchange or investment firm. Our opinions are our own and we put our users first to help you find the product that's right for you.
We're here to help
We're a team of crypto nerds with extensive experience in investing, trading and decentralised finance but we also remember how it feels to be a beginner.
How to choose the best crypto exchange in New Zealand
It's important to research a wide range of crypto platforms and compare the pros and cons of each option. The best crypto exchange for you depends on what you're looking for, so consider the following:
If you're a crypto novice, getting started buying and selling coins and tokens can be complicated and confusing. On the other hand, experienced traders may want a platform with special features such as advanced charting and order types, plus the option to trade on margin.
If you're a beginner at crypto trading, look for a platform with a straightforward user interface that's easy to understand.
Can you deposit funds into your account via bank transfer, debit card and/or PayPal? The more payment options an exchange has, the more convenient it generally is to use. Make sure your exchange has deposit and withdrawal options that work for you. Remember to check the fees associated with different methods.
First, consider the type of trades you want to place. Some exchanges offer these trading options:
Fiat-to-crypto
Crypto-to-crypto
Both fiat-to-crypto and crypto-to-crypto
For example, if you want to buy BTC with New Zealand dollars, you'll need to find a platform that allows you to buy coins via bank transfer or card. Alternatively, if you want to exchange your BTC or ETH holdings for another cryptocurrency, you'll want a platform that offers direct crypto-to-crypto trades.
Consider which currencies you want to trade and which platforms list those currencies in one or more trading pairs:
Cryptocurrencies. There are thousands of different cryptocurrencies in existence, so don't expect to find them all listed on any single platform. Major cryptocurrencies such as BTC, ETH, XRP and others in the top 20 coins by market capitalisation are listed on an extensive range of exchanges. However, rarer altcoins may be much harder to find.
Fiat currencies. If you want to buy crypto with New Zealand dollars, check which currencies the platform accepts.
You can find an overview of the crypto assets and fiat currencies that each exchange supports in the table. Read the full review for a more detailed analysis.
From depositing to trading and withdrawing funds, how much will it cost you to buy and sell crypto on each platform? Consider your payment method, the currencies you want to use and any discounts you may be entitled to when completing these calculations. For instance, fees for credit card purchases are usually higher than for a bank transfer.
You can find detailed information on fees for each exchange by clicking on the "View details" text in the table.
Are there any limits on the amount you can deposit into your account or the amount of cryptocurrency you can buy or sell per transaction or per day? This question typically only applies to what some colloquially call "crypto whales" or people who make transactions ranging in value from hundreds of thousands to millions of New Zealand dollars.
Most exchanges that require the Know Your Customer (KYC) process allow you to deposit and withdraw tens of thousands of New Zealand dollars per day. This is more than most average traders deposit and withdraw on a daily basis.
How can you access your trading account? Certain platforms only allow you to trade through a web browser, but some have mobile apps. If trading on the go is important to you, it's worth reading up on whether or not the exchange has a mobile app and how easy it is to use.
Lending involves loaning out your cryptocurrency to other users or businesses who pay you a fee for doing so. Staking involves locking up your assets to help them secure a blockchain network.
Before using any exchange to generate yield, make sure you understand the risks involved, what type of earning the exchange offers and whether it's appropriate for your needs.
The price of a digital asset is determined by whatever people are willing to pay for it.
Most brokers or instant buy services charge a fee as part of the service it provides. This means you will pay anywhere from a fraction of a percent to a few percent more than the going rate of the asset when you make the purchase.
If you purchase your asset in the spot market, you can set the price that you want to pay and then wait for your order to be filled. For example, if you are willing to pay US$21,000 for 1 BTC, then you can set a limit order to buy BTC at that price in hopes that someone is willing to sell it to you at that price.
The level of liquidity on an exchange affects the ease and speed with which you can complete trades. If there's a high level of liquidity – in other words, if the exchange has a high trading volume – then trades should be completed quickly and easily.
One of the biggest benefits of trading on larger crypto exchanges is they get enough orders to match buyers and sellers without any difficulty. However, low liquidity can lead to substantial price fluctuations.
You can check websites such as CoinGecko or CoinMarketCap to get a better idea of an exchange's level of liquidity.
Most centralised crypto exchanges these days require you to complete a KYC or identity verification process.
But some exchanges still let you deposit crypto and trade crypto-to-crypto without completing the KYC process.
The said exchanges may not be properly regulated, so please proceed with caution if you choose to use these, especially if they are located offshore.
Keep in mind that these exchanges may limit the amount of crypto you can withdraw from the exchange on a daily basis.
For exchanges that require the KYC process, verification requirements vary. You will likely need to provide some or all of the following:
Your name
Your email address and phone number
Your address
Proof of ID
Proof of address
A photo of yourself holding a signed declaration
If you need to provide a wide range of personal information, it's important to be sure you're dealing with a trusted exchange.
It's also a good idea to research how long you can expect the verification process to take. For some exchanges, it can take up to 2–3 business days while others are near-instant.
Finally, be aware that some exchanges require you to complete additional verification tasks to unlock full account features and permit higher transaction limits.
What is the difference between a brokerage and an exchange? How long will it take for your transaction to be completed? Is one better than the other?
Broker. Brokers buy and sell cryptocurrency to you. They typically charge a convenience fee for this, which may be hidden as a spread or markup on the going market rate.
The advantage of using a broker is your transactions should be instant. When you purchase crypto using either the fiat you've deposited into your account or with a card, that crypto should be available to you right away.
The same goes for when you decide to sell your crypto for fiat. You sell the broker your crypto in exchange for fiat and the fiat should instantly register in your account.
Exchange. An exchange has a spot market, which is where users come to place buy and sell orders on the open market. Doing so allows you to set a specific price for an asset. For instance, if you think the price of Bitcoin will go down from US$23,000 to US$21,000, you can set an order for US$21,000 and wait for it to be filled. Likewise, you can set an order to sell your assets for a higher price than what is being offered.
Exchanges may also offer brokerage services.
Most exchanges allow you to withdraw crypto to your own wallet. This is sometimes not the case with brokers.
Whether you use an exchange or broker will come down to your own needs and whether you plan to trade regularly or make a few one-off purchases now and then.
Security is a crucial factor to consider when choosing a crypto exchange.
There have been more than a handful of cases in which exchanges have been hacked in crypto's history, so do your research on what security measures are in place to protect your funds.
Questions you should ask include the following:
Is the exchange ld and regulated by the proper authorities?
Is 2-factor authentication (2FA) – a code sent to your phone each time you log in – supported?
What percentage of customer funds are stored offline or in cold storage? Cold storage refers to storing the private keys to digital assets somewhere offline to greatly reduce the ability for hackers to access the assets.
What level of verification is required to open an account?
Have you checked the exchange's trust score on CoinGecko or CER?
Cryptocurrencies are unregulated in New Zealand and the government advises against trading them due to their high risk and volatile nature.
The Financial Markets Authority (FMA) views cryptos as "speculative products that operate differently to traditional investments".
The FMA recommends that if you intend to trade digital assets in New Zealand, you do so through an exchange that offers some protection.
These exchanges include New Zealand-based platforms that are registered on the Financial Service Providers Register (FSPR) and belong to a dispute resolution scheme.
If you need clarification on an exchange's regulatory policy, information can generally be found via the frequently asked questions section or by contacting the exchange directly.
This is a crucial but often overlooked factor when comparing crypto exchanges. If you ever have a problem with an individual transaction or with your account, how will you access a platform's customer support team?
You'll need to consider the following:
Is customer support available through email, phone and/or live chat?
Is support available 24/7 or only during specific hours?
How quickly does the support team respond to inquiries?
Is support offered in a language you are comfortable speaking?
Does the exchange have a reputation as a secure and reliable platform? Finder has reviewed a number of crypto exchanges to craft a list of the best crypto exchanges in New Zealand.
In efforts to assess the soundness and reliability of crypto exchanges, we look at whether or not exchanges are properly regulated, how they secure the private keys to the crypto they hold and the level of customer support they provide, among other factors.
You can also read our dedicated review for each exchange or see what other users think of the platform using a third-party service like Trustpilot.
Using FMA-registered exchanges to buy cryptocurrency
There are plenty of places to buy crypto, including platforms founded here in New Zealand or based in locations all around the world. Exchanges headquartered locally are required to register with the FMA and comply with requirements that don't apply to global platforms. Depending on your goals, this may have some benefits or drawbacks.
Pros
New Zealand-based exchanges must comply with the FMA's anti-money laundering (AML) and counter-terrorism financing (CTF) reporting obligations.
You can usually buy crypto with NZD.
Exchanges in New Zealand typically support local payment methods.
You may be able to access local customer support.
Subject to local laws.
Cons
You'll need to provide your personal details and proof of ID – a disadvantage if you want to trade anonymously.
Overseas trading platforms may provide better liquidity.
NZD-to-crypto prices are sometimes slightly higher than USD-to-crypto prices, meaning you sometimes pay a premium for buying directly with New Zealand dollars.
Some features are simply not available on FMA-registered exchanges. For example, margin trading, DeFi features and some altcoins.
Compare more crypto trading platforms and apps in New Zealand
Use the table to compare crypto exchanges and platforms on fees, range of cryptos, deposit methods and more. Once you've found the right fit, select Go to site to get started.
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How to use a cryptocurrency exchange
For the sake of our example, let's assume that you have $500 that you want to use to buy Bitcoin (BTC).
Register for an account on the platform and provide any personal details and proof of ID required.
Navigate your way to the "Buy" screen.
Select BTC as the cryptocurrency you want to buy.
Select your payment currency, which in this case is NZD, and specify the amount you want to spend as $500.
Select your payment method, such as a debit card payment or bank transfer.
Enter your payment details, such as your account number if sending a bank transfer or your card number and CVV if paying by card.
Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing.
If you're happy to proceed, click "Buy BTC".
Once the transaction has been processed, the BTC will be deposited into your exchange wallet. However, please note that some brokers will automatically send your purchased BTC to an external wallet address that you nominate.
How to pay for your cryptocurrency in New Zealand
Crypto exchanges in New Zealand support a range of deposit methods, including the following:
Neteller, Skrill and other online payment services
POLi
Account2Account (A2A)
PayID, Osko and other NPP payments to Australian bank accounts
Accepted payment methods vary between exchanges. Prior to signing up, it's worth checking that your preferred payment method is supported.
The different types of cryptocurrency exchanges
The term "exchange" may refer to a variety of cryptocurrency brokers, trading platforms and other services. Different types of exchange are often more geared toward beginners or experienced users.
Cryptocurrency brokers. Buy directly from cryptocurrency dealers for simple and quick purchases. A broker will facilitate an instant purchase of the digital asset of your choosing and will not offer spot trading.
Cryptocurrency trading platforms (suited to beginner/intermediate users). Buy and sell cryptocurrency on an open market for competitive fees, a wide selection of cryptocurrencies and optional features like margin trading. Many exchanges now offer brokerage services to be more beginner-friendly.
Cryptocurrency derivatives platforms (suited to advanced users and not available in some countries). These trading platforms don't sell cryptocurrency outright. Instead, they let certain users trade cryptocurrency derivatives in regions where this restricted-access feature is available. They're for advanced traders who want high speed, high leverage and deeply liquid platforms with a full range of features.
Risks of using a crypto exchange
Cybersecurity breaches. Hacks and scams are, unfortunately, commonplace in the crypto space. Exchange-related security breaches and targeted phishing scams remain a major concern for exchanges and their customers.
Not your keys. "Not your keys, not your crypto" is a common industry saying and refers to holding your digital assets in a wallet that another person or company controls, such as on an exchange. By storing cryptos on an exchange rather than
in a non-custodial wallet, you're relinquishing full ownership of those assets and putting trust in a third party – which some may see as contradictory to the decentralised philosophy of crypto.
Lack of consumer protection. While crypto exchanges are increasingly regulated in New Zealand and may be registered with the FMA, they are still lacking a lot of consumer protections such as mandatory insurance or strict rules about how user assets are managed.
Proof of reserves. Since the widely publicised collapse of FTX, many traders and investors have demanded centralised exchanges provide proof of reserves and user deposits. This may be done by a third-party auditor or through the use of on-chain data. Proof of reserves is still an evolving concept, and it's not clear yet what the best practices are or how reliable it will prove to be.
Transaction limits. Most crypto trading platforms have daily deposit and withdrawal limits. This means that even though you may have, for example, 10,000 NZD available, you may not be able to access and withdraw the total balance. Transaction limits depend on the exchange and the FMA stipulations and typically increase as you provide additional KYC information.
Frozen accounts. Crypto exchanges freezing deposits and withdrawals can happen without warning. If your account is frozen, you will not be allowed to remove your funds until the exchange approves or denies your request. Precautionary measures such as only holding a trading balance on an exchange are recommended.
Asset delistings. Centralised exchanges can opt to delist a cryptocurrency at any time. This can happen for numerous reasons, including poor asset performance, security concerns or anti-money laundering (AML) breaches. If delisting is taking place, you will be notified by the exchange and forced to sell your assets or remove them from the platform.
Is it safe to store your cryptocurrency on an exchange?
Cryptocurrency is held in digital wallets. Some exchanges will give you your own wallet that lets you hold cryptocurrency in your exchange account and then transfer it anywhere as desired.
However, once you have purchased what you consider to be a sizeable amount of digital assets, you may want to consider transferring the private keys to those assets to a self-custodial wallet.
This is because the exchange controls the private key to your wallet, which means you don't have total control of your funds. And with exchanges sometimes falling victim to hackers, there is some degree of risk involved with leaving the private keys to your crypto in the hands of a centralised exchange.
We polled 56 specialists in the fintech industry to get their opinion on what the future looks like for centralised crypto exchanges and what the demise of FTX means for the crypto industry.
The vast majority of our panellists (83.93%) don't think the collapse of FTX was the beginning of the end for crypto, while 8.93% think it was and 7.14% are unsure.
However, because of the FTX collapse, more than half of our panellists (58.49%) believe that crypto exchanges should be regulated just as much as other financial trading platforms.
22.64% believe that crypto exchanges should be regulated, but less so than other financial trading platforms. 15.09% don't believe that crypto exchanges should be regulated to the same degree.
Over one-third of our panellists (35.19%) believe all crypto exchanges will be regulated as traditional financial institutions by 2030. A further 22.22% believe this will happen by 2025 and another 14.81% think it will happen by 2024.
In the future, the majority of our panellists (86.79%) feel that crypto exchanges should be required to disclose both their proof of reserves (PoR) and records of their liabilities.
42.31% think that more crypto exchanges will face bankruptcy as a result of a reduction in their customer base. 15.38% believe this will play out over the next 5 years while a quarter (26.92%) think it'll happen within the year.
Finder surveyed 56 fintech specialists in January 2023. Panellists are able to answer as many or as few questions as they like, meaning the number of responses received varies by question. Panellists may own some cryptocurrencies.
Bottom line
Not all crypto exchanges are created equal and not all crypto buyers and sellers have the same trading needs. The best exchange or platform for one person might not necessarily be the right choice for someone else, so it's essential to do your own research.
Read our reviews of some of the most popular cryptocurrency exchanges in New Zealand and around the world before you decide which to use. Compare the features, fees and pros and cons of each platform and consider whether they align with your investment goals and budget.
Frequently asked questions
The safest exchanges are those that have stringent security measures such as registration on the New Zealand Financial Market Authority's Financial Service Providers Register (FSP), 2-factor authentication (2FA), an insurance fund and cold wallet storage in place.
A very small group of exchanges, like Independent Reserve, also hold world-class ISO 27001 certification. This means they have been thoroughly audited and support industry-standard security measures.
Most popular crypto exchanges can be used to trade crypto in New Zealand. However, global exchanges that aren't registered on the FSP aren't allowed to offer NZD deposits and withdrawals.
Exchanges that accept NZD include Swyftx, Easy Crypto and Independent Reserve.
We've given you a head start by sharing some of our picks for the best crypto exchanges in NZ at the top of this page.
Due diligence and research are incredibly important when choosing a crypto exchange you can trust. As a good rule of thumb, look for platforms that are registered with the New Zealand financial industry regulator, the FMA.
A great way to dive deeper is by reading our extended reviews of each crypto exchange and researching customer feedback on platforms like Trustpilot.
Methodology
To evaluate our 2024 picks for the best crypto exchanges in New Zealand, we compared trading platforms on a range of criteria, including the following:
Supported assets. Does the platform offer a good breadth of coins, tokens and NFTs?
Payment methods. What account funding options are available? Does the exchange accept bank transfers, credit and debit cards or crypto-only transfers?
Fees. What trading fees, withdrawal fees and other miscellaneous charges are levied by the exchange, and are these rates comparable with competitor exchanges?
User experience. Is the platform simple to use for both beginners and advanced crypto traders?
Platform features. What tools, charts and functionalities are available on the exchange? Is there support for advanced trading features such as derivatives or hedging?
Security. What measures are taken by the exchange to protect its customers' assets and prevent theft or loss? Are additional security features in place, including 2-factor authentication (2FA), cold storage of assets, regular audits and insurance coverage?
Regulator registration. Is the platform registered with the Financial Markets Authority?
Customer support. How do existing users rate the exchange's customer support? Does the exchange offer various methods of contact, such as email, instant chat, phone or social media?
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Unfortunately these exchanges aren't available in your location
Frank Corva is business-to-business (B2B) correspondent for Bitcoin Magazine and formerly the cryptocurrency writer and analyst for digital assets at Finder. Frank has turned his hobby of studying and writing about crypto into a career with a mission of educating the world about this burgeoning sector of finance. He worked in Ghana and Venezuela before earning a degree in applied linguistics at Teachers College, Columbia University. He also taught writing and entertainment business courses in Japan and worked with UNICEF in Namibia before returning to the US to teach at universities in New York City. Earlier in his career, he spent years working as a publicist and graphic designer for record labels like Warner Music Group and Triple Crown Records. During that time, he was also a music journalist whose writing and photography was in published in Alternative Press, Spin and other outlets. See full bio
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