Where To Trade Bitcoin And Other Currencies In NZ

Cryptocurrency is changing the way we transact on a daily basis, and it has given a direct impact on people, businesses, and countries all over the world. There's a lot of talk online about its great potential to replace traditional and new payment methods in the long run, mainly with its decentralized system. For those new to the world of Bitcoin and other cryptocurrencies and would want to start investing, here's your starter guide.

What is Cryptocurrency?

A cryptocurrency is a digital asset that can be used to buy goods and services or even trade them for profit; it uses an online ledger with strong cryptography to secure online transactions. Unlike fiat currencies, it is decentralized, meaning it's not backed by a "central government".

It may have been more than a decade since the most popular form of cryptocurrency worldwide was created, but Bitcoin is still gaining millions of investors and continues to make headlines. Investing and trading your Bitcoin and other currencies can seem complicated, but not with the help of exchanges and wallets!

Where can I trade my Bitcoin, etc. in New Zealand?

1. Coinbase

Ensure a secured transaction with the most popular Bitcoin exchange in the world! Coinbase stores the majority of its crypto assets in secure offline storage and gives its customers a wide range of options to buy, sell, and trade their cryptocurrencies such as bank transfer and credit/debit card. It offers a secure wallet where you can store newly purchased cryptocurrencies and keep track of them all in one place.

Need more convincing? Coinbase has no reported hacks or compromises of the security systems and wallets resulting in any loss of funds due to criminal activity.

Import: Coinbase only allows crypto-to-crypto conversions for New Zealand residents

Features:

Monitor your crypto portfolio on website or app
Beginner-friendly
Uses 2-step verification for added security
Covered by insurance
Coinbase Pro offers advanced trading tools and indicators

2. eToro

If you’re new to cryptocurrency, eToro’s user-friendly and straightforward interface makes it a good option. It offers 15 different digital coins and has one of the lowest fees when it comes to crypto exchange. You can invest in Bitcoin using your credit card or through PayPal, get the latest updates with its real-time crypto market research and news, use its advanced trading features and risk management tools, and more. You can even practice crypto trading using a virtual portfolio!

NOTE: eToro is limited to cryptocurrency trading in New Zealand as a result of the country’s regulations

Features:

Accepts credit card, bank transfer, and PayPal to fund your account
User-friendly interface
Allows investors to research and copy other users' investment strategies through its Social Trading platform

3. Binance

If you have more digital assets aside from Bitcoin, consider trading using Binance. It’s the largest and the most popular trading platform when it comes to cryptocurrency exchange in the world and only works with verified and trusted partners to give you a secure crypto-buying experience. Most importantly, it supports New Zealand customers to trade and sell Bitcoin and other cryptocurrencies easily using New Zealand Dollars.

Features:

Accepts a wide range of currencies
Multiple payment options like bank transfer, cash, and credit/debit card
Low trading fees
Platform to trade crypto with leverage
Future, margin, and options crypto trading available

4. Independent Reserve

Independent Reserve is a popular exchange among cryptocurrency traders worldwide and a well-trusted cryptocurrency in New Zealand. It supports traditional fiat currencies, including the New Zealand Dollar (NZD). You also have the option to buy and sell 24 of the major cryptocurrencies and popular DeFi tokens using SWIFT.

Features:

Customer support available 24/7
Uses FastTrack which enables customers to register and trade easily
Has AutoTrader so customers can perform automated trading strategies
Over-the-counter trades via VIP service desk

5. Easy Crypto

Convert NZD to Bitcoin easily. Easy Crypto is a New Zealand owned crypto retailer where you can buy and sell your cryptocurrencies instantly! It's the fastest and easiest way to withdraw and deliver to any wallet address. It also has a 100% Funds Safety Guarantee so you can trade securely.

Features:

Registered cryptocurrency exchange in NZ
Offers more than 40 cryptocurrencies
Purchase Bitcoin directly to a hardware wallet
Secure exchange
Customer support available 24/7

6. Swyftx

Swyftx is a well-known Australian crypto exchange that targets New Zealand users and helps make crypto buying and selling simple, especially for beginners. The site and app offers a user-friendly interface with guides and chat support to make sure all your questions are answered.

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