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Best Crypto Exchanges in New Zealand

Best Crypto Exchanges in New Zealand

Explore our expert analysis on the best crypto exchanges in New Zealand, offering insights for secure and savvy cryptocurrency investments.

Summary: In New Zealand, Bitcoin and other cryptocurrencies are predominantly traded through exchanges that comply with the standards set by the New Zealand Financial Markets Authority (FMA) or other relevant regulatory bodies. These platforms facilitate transactions in New Zealand dollars (NZD), using local banking transfers, various card options, and digital payment methods.

Our comprehensive review highlights the five leading exchanges in NZ, selected for their rigorous adherence to regulatory norms and reliability. Based on our assessment, these exchanges stand out as the most trustworthy and favourable options for investors.

  1. Independent Reserve - Best Crypto Exchange in New Zealand
  2. SwyftX - Best Crypto Exchange for Beginners
  3. Bybit - Best for Derivatives Traders in New Zealand
  4. OKX - Good Alternative for Derivatives
  5. Uphold - Best for Crypto and Precious Metals
Best Crypto Exchanges in New Zealand
4.8 out of 5.0 by Datawallet
Independent Reserve excels as New Zealand's top investment platform with robust regulatory compliance, a broad range of cryptocurrencies, competitive fees, and NZD deposit options.
Licensing and Regulation
Regulated in Australia (AUSTRAC) and available in NZ.
Available Assets
BTC, ETH, SOL, MATIC, USDT, USDC, LINK, UNI & more.
NZD Deposit Methods
SWIFT (Bank Transfer), Debit Card and PayPal.

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Best Cryptocurrency Exchanges in New Zealand

After carefully reviewing more than 20 platforms, we've identified the top five New Zealand exchanges perfect for local investors. Our evaluation centered on compliance with New Zealand Financial Markets Authority (FMA) rules, cryptocurrency variety, user-friendliness, NZD deposit methods, and fee schedules. This report is an essential guide for investors seeking an exchange that fits their cryptocurrency trading requirements perfectly.

Exchange
Cryptocurrencies
Trading Fees
Deposit Methods
Key Features
Indep Reserve
25+
0.5% Fee and 0.2% Spread
Bank Transfers, Debit Card, PayPal & More
Deep Liquidity, OTC Desk & Most Trusted
SwyftX
310+
2% NZD Deposit Fee and 0.6% Trading Fee
Bank Transfers, Debit Cards & More
Staking, Good Altcoin Variety & More
Bybit
1,000+
Maker Fee 0.01% & Taker Fee 0.06%
Bank Transfer, Debit Card, Credit Card & More
Staking, Options, Futures, Lending & More
OKX
300+
0.1% Trading Fee and 0.1% Spread
Bank Transfer, Apple Pay & Credit Card
Options, Futures, OKX Wallet, DeFi Apps & More
Uphold
250+
1% Trading Fee and 1% Spread
Debit Card, Credit Card, Google Pay & Apple Pay
Staking, Gold & Silver Investing & More

1. Independent Reserve

Independent Reserve, recognised as New Zealand's leading cryptocurrency exchange since 2013, excels with its secure, compliant platform. It serves NZ investors by offering more than 20 leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tether (USDT), and other significant assets. The exchange is known for its competitive fees, strong liquidity, and NZD deposit convenience.

The platform sets the standard with its best-in-class Over-The-Counter (OTC) desk, providing institutional investors access to deep liquidity for orders exceeding 100k NZD. Its commitment to safety and ethical trading practices is further evidenced by strict adherence to financial standards, annual audits, and ISO 27001 certification. Independent Reserve is not just regarded for operational excellence but also for prioritising customer safety and satisfaction.

  • Fees: Starting at a 0.5% trading fee with volume-based discounts that go as low as 0.02% per trade.
  • Supported Assets: Over 25 crypto assets with the best liquidity in New Zealand.
  • Regulation & Licensing: Regulated and licensed by AUSTRAC and ASIC in Australia, and available to investors in NZ.
  • NZD Deposit Methods: Bank transfer, SWIFT, debit card and PayPal.
Independent Reserve New Zealand

2. SwyftX

Ranked as a top-tier cryptocurrency exchange in New Zealand, SwyftX has rapidly gained prominence since its inception in 2017. With a growing user base, SwyftX distinguishes itself through its user-friendly interface, accessible via both web and mobile applications (iOS and Android), and its extensive range of over 310 crypto assets. The platform's competitive trading fees and 24/7 customer service enhance its user appeal for beginners.

A standout feature of SwyftX is its comprehensive crypto staking options, including popular assets like Ethereum (ETH), Cosmos (ATOM), Solana (SOL), KAVA, and more. This offering positions SwyftX as a preferred choice for investors interested in trading cryptocurrencies for rewards. Alongside its staking options, SwyftX maintains rigorous security standards, including ISO 27001 certification, ensuring a secure and trustworthy environment for crypto investments.

  • Fees: High deposit fees of over 2% and trading fees of 0.6%.
  • Supported Assets: Over 310 cryptocurrencies, featuring popular staking options.
  • Regulation & Licensing: Compliant with Australian regulatory standards (AUSTRAC) with support for New Zealand investors.
  • NZD Deposit Methods: Debit Card only.
SwyftX

3. Bybit

Bybit claims its position as New Zealand's third-best cryptocurrency exchange and a top choice for derivatives traders. Renowned for its comprehensive offerings and user-oriented features, Bybit is a prime platform for novice and institutional traders. It excels with its deep liquidity for both spot and futures markets, boasting over $10 billion in daily trading volume across both order books.

The platform features an expansive portfolio of over 1,000 digital assets, catering to a wide range of investment preferences. Bybit's specialty in futures contracts, offering up to 25x leverage, and staking options, significantly broadens the investment horizon for users. Its competitive fee structure, with a maker fee of 0.01% and a taker fee of 0.06%, combined with stringent security measures, solidifies its reputation as a preferred trading platform. With over 10 million users globally, Bybit is recognised for its reliability and extensive range of services.

  • Fees: Maker fee of 0.01% and a taker fee of 0.06%.
  • Supported Cryptocurrencies: An impressive collection of over 1,000 digital assets.
  • Regulation & Licensing: Off-shore exchange not directly licensed in New Zealand or Australia.
  • NZD Deposit Methods: Supports SWIFT and free bank transfers, debit cards, credit cards, and more.
Bybit New Zealand

4. OKX

OKX establishes itself as New Zealand's fourth-best cryptocurrency exchange, notably excelling in DeFi composability. The platform features an extensive range of over 300 crypto assets, expanding its scope beyond conventional spot trading to encompass futures, options, and margin trading. A key attraction for DeFi enthusiasts is the OKX Wallet, which integrates seamlessly with DeFi protocols like AAVE and Uniswap, facilitating higher staking yields.

Headquartered in Seychelles and adhering to its regulatory standards, OKX remains fully accessible and operational in New Zealand. The platform particularly appeals to institutional traders and DeFi users, offering advanced API capabilities, superior liquidity, and in-built compatibility with web3 protocols for greater flexibility and access to long-tail markets.

  • Fees: A competitive fee structure with a 0.1% maker fee and a 0.2% taker fee, alongside a standard 0.1% fee for spot trading.
  • Supported Cryptocurrencies: A broad selection of over 300 digital assets, including futures and leveraged trading options.
  • Regulation & Licensing: Headquartered in Seychelles, OKX aligns with international financial regulations to ensure a secure trading environment for New Zealand users.
  • NZD Deposit Methods: Includes options like bank transfers, debit cards, credit cards, and Apple Pay.

5. Uphold

Uphold is New Zealand's fifth-leading exchange, offering over 260 digital assets, including distinctive staking opportunities. Operating under stringent financial regulations, it ensures a secure trading space for its users. Notably, Uphold provides convenient NZD deposit methods and excels in transparency, being one of the few exchanges offering audited proof-of-reserves. This ensures customer assets are fully backed, establishing its credibility and trustworthiness.

Uphold's blend of digital assets with precious metals, including gold, silver, and palladium, underlines its position as a versatile and trusted platform. Its focus on security, transparency, and diverse investment options aligns with the needs of investors seeking a reliable and comprehensive platform for diversified investments.

  • Fees: Competitive trading fee of 1% and a spread fee of 1%.
  • Supported Assets: An extensive portfolio of 260 cryptocurrencies, along with 4 precious metals, including gold, silver, platinum and palladium.
  • Regulation & Licensing: Regulated by the Financial Conduct Authority (FCA), FinCEN and other tier-1 regulators and is available to NZ-based investors.
  • NZD Deposit Methods: Includes options like Bank Transfer and Credit/Debit Card, along with Google Pay and Apple Pay, catering to various preferences.
Uphold

Is Crypto Regulated in New Zealand?

In New Zealand, cryptocurrency falls under the purview of general financial and tax laws rather than specific cryptocurrency regulations. The operations of cryptocurrency exchanges, brokers, wallet providers, and Initial Coin Offerings (ICOs) are regulated as financial services. They must adhere to regulations enforced by New Zealand's Financial Markets Authority (FMA), such as the Financial Markets Conduct Act 2013 and the Anti-Money Laundering and Countering Financing of Terrorism Act 2013.

As of mid-2023, the Reserve Bank of New Zealand (RBNZ) has not introduced specific regulations for cryptocurrencies or stablecoins. It emphasizes the importance of increased vigilance in this rapidly evolving sector. This stance is based on feedback from various stakeholders consulted about developing the crypto-asset market.

While the RBNZ is considering the possibility of a Central Bank Digital Currency (CBDC), it maintains that any such introduction would be an addition to, rather than a replacement for, existing cash systems.

Is Crypto Taxed in New Zealand?

Yes, cryptocurrency is taxed in New Zealand. The Inland Revenue Department (IRD) treats cryptocurrencies as property for tax purposes. This means that individuals and businesses are required to pay taxes on any gains they realise from the buying and selling of cryptocurrency, provided the intent behind the transaction was for resale. 

The tax framework for cryptocurrencies in New Zealand is similar to that for trading in assets like gold. However, it's important for those dealing in cryptocurrencies to stay informed about the specific tax implications as they can be complex and may vary depending on the nature of transactions and individual circumstances.

Bottom Line

In conclusion, this comprehensive review of New Zealand's cryptocurrency exchanges provides crucial insights for investors exploring the digital asset market. We've spotlighted Independent Reserve, SwyftX, Bybit, OKX, and Uphold as the foremost platforms, each standing out for its commitment to regulatory compliance, ease of use, and a wide range of asset options.

This analysis aims to assist investors in making informed, secure decisions in a landscape that, though constantly evolving, remains closely monitored by New Zealand's Financial Markets Authority. As an indispensable resource, this guide empowers individuals to confidently navigate the complexities of cryptocurrency investment.

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