Choosing a cryptocurrency exchange is your first big step into the world of crypto. Think of an exchange as a digital marketplace where you can swap your New Zealand dollars (NZD) for cryptocurrencies like Bitcoin and Ethereum.
To help you decide, we’ve analysed user reviews from platforms like Trustpilot and other public feedback to create an objective guide to the best options for Kiwis.
This article summarises what real users are saying—the good and the bad—so you can find the platform that best fits your needs.
Exchange vs. Wallet: What’s the Difference?
This is a common point of confusion, but the difference is simple
An Exchange is the shop where you buy the crypto.
A Wallet is your personal vault where you store the crypto safely after you’ve bought it.
While some exchanges offer built-in wallets, the safest long-term strategy is to use your own private wallet. This is where the saying, “Not your Keys, Not your Crypto,” comes from—if you don’t control the wallet’s keys, you don’t truly own your crypto.
Let’s look at the top choices available in New Zealand.
Top Picks for Beginners in NZ
Best for: Absolute beginners and direct-to-wallet security.
Easy Crypto is a fantastic New Zealand-based platform built for simplicity. It’s a non-custodial exchange, meaning when you buy crypto, it’s sent directly to your personal wallet. This is a huge security advantage and a great way for beginners to learn best practices from day one. They also offer an Easy Crypto Wallet.
- Pros: Very easy to use, excellent NZ-based customer support, highly secure process.
- Cons: As the two platforms continue to merge, the user experience and features may evolve, which could be a learning curve for new and existing customers.
Pay It Now (PIN)
Best for: Excellent local support and a simple, all-in-one platform.
Pay It Now (PIN) is a New Zealand-based platform that earns high praise for its ease of use and customer service. It offers a straightforward way to buy, sell, and manage crypto in an integrated wallet.
Pros: Pay It Now (PIN) is a New Zealand-based platform that earns high praise for its ease of use and customer service. It offers a straightforward way to buy, sell, and manage crypto in an integrated wallet.- Cons: User feedback indicates the selection of cryptocurrencies is smaller than on larger, global platforms.
For More Specific Investing Needs
Best for: The largest selection of cryptocurrencies and advanced trading tools.
Binance is the world’s largest crypto exchange, and reviews confirm it is the undisputed leader for variety. If a cryptocurrency exists, you can likely trade it on Binance.
- Pros: Offers extremely low trading fees and the widest selection of coins and features available globally.
- Cons: A very common theme in user reviews is that the platform can be overwhelming for beginners, and that getting timely customer support can be challenging.
Best for: Security-conscious investors and high-value transactions.
Independent Reserve is a premium exchange widely reviewed as one of the most secure and compliant options for Kiwis. It is registered on the FSPR, making it a go-to for those who prioritize safety and regulation.
- Pros: Public reviews consistently highlight its top-tier security and reliability, making it trusted for large investments and self-managed super funds (SMSFs).
- Cons: Users often note that the platform is more functional than flashy and has a more limited range of coins compared to bigger exchanges.
How to Choose the Right NZ Exchange for You
The “best” exchange is the one that aligns with your priorities. Based on the user feedback we’ve summarised, here’s how to decide:
- For a trusted local brand with great features, consider Easy Crypto.
- If you prioritise excellent, fast NZ-based customer support, the reviews point towards Pay It Now (PIN).
- If your number one concern is security for larger amounts, look into Independent Reserve.
- If you want the absolute widest choice of coins and low fees, Binance is the global leader.
By weighing what’s most important to you against the experiences of other users, you can choose your platform with confidence.