Crypto trading in New Zealand is as popular as ever. Still, many people are hesitant to invest in cryptocurrency because they don’t know where to begin. Well, one of the first things you need to do is find a reputable crypto trading app or platform in New Zealand.
You don’t just sign up with any crypto exchange in New Zealand. You want to find the best crypto exchange for New Zealand customers. Read on to find out crypto exchanges in New Zealand compare to each other.
Crypto exchange New Zealand comparisons are relevant to beginners as well as those who already have experience buying and selling cryptocurrency. No matter how well-versed you are, there are several things you must first take into account before you register with any crypto exchange for New Zealanders. Of course, advanced traders may already know some of these things, but they may also learn something new.
Meanwhile, those who have little or no experience with crypto trading will gain a lot of helpful insight. This new-found wisdom should give them enough confidence to wisely choose the best New Zealand crypto exchange and start their exciting new venture on the right foot.
You want to make sure that any crypto exchange in New Zealand is 100% legit. Therefore, you must keep an eye out for the tell-tale signs of a trustworthy operation. Let’s go over a few of the most important ones.
Using the most modern security technology is a hallmark of any reputable crypto exchange for New Zealanders. The best New Zealand crypto exchanges are secure. Look for the “HTTPS” prefix in the URL and avoid sites that have the “HTTP” prefix. Top New Zealand crypto exchanges make use of two-factor authentication and allow you to keep your cryptocurrency in cold storage offline. Furthermore, your trading platform should be monitored around the clock and notify you of any account activity. All of this keeps your crypto safe and secure.
You should make sure that you can legally trade cryptocurrency. Fortunately, it’s perfectly legal in New Zealand. Even though you can use exchanges outside of the country, it’s recommended that you use one that’s based in New Zealand. This makes it easier to adhere to any regulatory changes. At the very least, your crypto exchange in New Zealand should:
Remember that the best New Zealand crypto exchanges insure your investment.
In simplest terms, “Liquidity” means the amount of cash your crypto exchange has on hand. More trading volume usually equates to higher liquidity. The best crypto trading platforms in New Zealand have high liquidity which means you can complete your orders faster.
Fees are a fact of life. However, the fees at some exchanges are a lot higher than they are at others. Does the exchange you’re looking at charge fees for deposits? Withdrawals? Are there any limits? Do fees vary depending on the payment method you use? Saving on fees puts money in your pocket.
A reputable crypto exchange for New Zealanders will offer a multitude of cryptocurrencies. Almost any trading platform supports popular cryptos like Bitcoin, Ethereum, and Tether. But the best New Zealand crypto exchanges also let you trade in the lesser-known altcoins. There are well over 2,000 cryptocurrencies out there. You should have access to as many of them as possible.
Let us introduce some of the best crypto exchanges in New Zealand. After you find out which ones they are, you can read about how our experts came to these conclusions.
Based in New Zealand, Dasset focuses on the domestic market. It allows users to trade against local currency as well as coin-to-coin trading. Dasset is registered with New Zealand’s Financial Services Provider Register and it is one of the few trading platforms that doesn’t charge for deposits or withdrawals.
BitPrime will appeal to beginners and veteran traders alike. The New Zealand-based exchange offers over 150 cryptocurrencies and is a Registered Financial Service Provider. The platform has several helpful features and the fee structure is fair.
Being an Australian-based crypto trading platform, some may think that Independent Reserve shouldn’t be on this list. Still, the platform is excellent, regulated, and it caters to the New Zealand market. The fees are reasonable and the site supports plenty of convenient New Zealand-friendly banking options.
Thoroughly testing a crypto exchange is no easy task. Our experts put a lot of time and effort into examining every nook and cranny of the platforms we cover. Among other things, we consider the aforementioned security, liquidity, legality, fees, and available cryptos. Additionally, our experts focus on transparency, regulatory compliance, the user experience, and customer service among other things.
One of the most effective ways of rating a crypto exchange in New Zealand is by actually using it. This allows testers to base their opinions on personal experience. Is the platform easy to use? Are there New Zealand-friendly banking options? Are transactions processed quickly?
Naturally, it’s also important to hear what others have to say. That’s why we scour the internet and other resources and read about the experiences of other users. A simple Google search can yield loads of helpful insight. While it’s not the most important consideration, a crypto trading platform’s reputation goes a long way.
New Zealanders have the advantage of having a plethora of great exchanges at their disposal. This means they can easily find another platform to trade with if they are not 100% satisfied with their current crypto exchange. Even if you’re generally happy with your current platform, you can easily switch to if you find something better.
You should always pick a trading site that best suits your purposes and personal requirements. If you are interested in trading altcoins, make sure you pick the best New Zealand crypto exchange with the most available altcoins. If you want to conduct your deposits and withdrawals using POLi, make sure the crypto exchange supports it.
No matter what your purposes are, always consider the factors we have already covered. After that, it’s really a matter of personal choice.
As is the case with most things in life, there are pros and cons involved with trading cryptocurrency. In some cases, an aspect can be both a pro and a con. For instance, transactions are untraceable if conducted properly. This is quite appealing to anyone who values their privacy. On the flip side, this makes it a lot easier for individuals and groups to circumvent the law. An additional two-sided aspect is that cryptocurrency can dramatically increase in value. It’s also vulnerable to wild decreases. Let’s examine some of the pros and cons of using the best New Zealand crypto exchange.
In addition to being legal, the best New Zealand crypto exchanges are subject to regulatory oversight. These regulations include crypto exchanges in New Zealand being registered as a financial services provider. Don’t confuse this with cryptocurrencies being regulated in New Zealand. They aren’t. Only the crypto exchanges themselves are. This leads us to the second benefit of owning cryptocurrencies. They are decentralized which means they can’t be inflated or deflated by a central bank or government. Governments can easily print money, which often devalues the currency. A cryptocurrency like Bitcoin has a set number of coins that can be mined.
Another pro is that all transactions are permanently stored on the blockchain. Think of the blockchain as a public ledger. This means you can see the data whenever you want to. Despite this transparency, cryptocurrencies are totally anonymous. This is deeply appreciated by anyone who is hesitant about revealing sensitive personal and financial details over the internet. Those people need not worry about a crypto transaction leading to identity theft.
While a lot of people overlook it, portability is another benefit. Walking around with a large sum of money in your pocket can be nerve-wracking. You could carry a massive quantity of cryptocurrency on a memory drive and nobody would ever notice. Even if some ne’er-do-well robbed you of the memory stick, your crypto would remain secure. Of course, that’s assuming you did due diligence and backed it up.
Some people that trade on the best New Zealand crypto exchanges are making an investment. They don’t use their crypto to purchase goods and services. On the other hand, many people like to spend their cryptocurrency. The biggest downside to doing this is that cryptocurrency is not accepted at many places. The good news is that the number of crypto-friendly vendors is on the rise.
As much as trading platforms focus on providing the highest levels of security, vulnerabilities are sometimes exploited. You have almost certainly heard or read about large sums of crypto being stolen through hacking and other nefarious activities. You shouldn’t let this scare you. Keeping your crypto in cold storage keeps you immune from such attacks. Just remember to backup your information.
Perhaps the biggest con related to cryptocurrency trading is that it appears to be quite technical. This scares a lot of people away. Yes, the whole concept of cryptocurrency is very technical. But so are the mechanics of almost any other investment. Indeed there is a learning curve involved, but it’s not nearly as complicated as you might think. Several of the best New Zealand crypto exchanges allow you to try crypto trading with play money. Beginners can quickly get the feel for the trading platform and learn the basics. These platforms are also rife with easy to understand tutorials and other helpful resources.
The pros of cryptocurrency trading far outweigh the cons. Although there are some inherent risks, many of them can be mitigated by using the advice imparted on you in this and other reviews on our site.
Finding the best New Zealand crypto exchange is one thing. Making your investment is something else. Perhaps the best tip is to treat your cryptocurrency like real money. Even though it technically isn’t, it is in many ways. You also need to realize that trading cryptocurrency does not guarantee a profit. The only guarantee is this: There are no guarantees. With that said, here are a few tips to help you get started at your favorite crypto exchange in New Zealand.
We can’t stress the importance of using the best trading platform enough. Because crypto exchanges in New Zealand are subject to regulations, you can be confident that you won’t be scammed by crypto exchanges. A domestic exchange will most certainly offer a variety of cryptocurrencies, low fees, and ultra-fast transactions. They also support the NZD and other popular New Zealand payment options.
Diversifying your portfolio minimizes risk and helps you reach your long-term goals. Avoid putting all your eggs in one basket by investing in one crypto. Instead, put your money into a variety of them. Of course, you need to research the coins you invest in to make the best decision.
Yes, this is a no-brainer, yet it’s often overlooked. It’s a good idea to first open a mock account that allows you to test the platform using fake money. Buy, sell, and make trades until you know your way around. If you don’t like the platform, try another one. There are loads of them out there.
While it isn’t always true, altcoins tend to follow what Bitcoin does. If Bitcoin goes up in value, there’s a good chance that your altcoin will too. The same applies to decreases.
Most crypto exchanges in New Zealand offer free wallets. These are normally fine for leaving small amounts in, but you should really keep your funds offline in cold storage in a hardware wallet or cold wallet. This keeps your coins safe if the exchange gets hacked. Always backup your wallet.
Finding the best crypto exchange in New Zealand will greatly enhance your crypto trading experience. Investing in the right cryptocurrency makes it even better. The key is having a fundamental understanding of cryptocurrencies and crypto exchanges.
Following our advice will help you find a crypto exchange that best suits your needs. Consider the site’s security, take note of the fees, and be sure it has the cryptos you want to trade. Start by testing the waters with play money.
When you have the feel for it, invest a little bit of real money. You can increase the amount you invest as you gain experience and confidence.
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