Best Crypto Exchanges in New Zealand

Is crypto legal in New Zealand?

Yes. Crypto is legal, but not legal tender. New Zealand regulates the businesses around crypto rather than the assets themselves. The Financial Markets Authority (FMA) warns that most crypto investments don’t carry the consumer protections you might expect from traditional finance.

On compliance, Virtual Asset Service Providers (VASPs) are supervised under the AML/CFT Act 2009 — with the Department of Internal Affairs (DIA) the lead supervisor for VASPs. If you run a crypto service, you must do KYC, monitor transactions, and keep records.

For tax, Inland Revenue (IRD) treats cryptoassets as property. Profits from selling/trading are generally taxable income; strong recordkeeping is required. In 2025, NZ also implemented the OECD Crypto-Asset Reporting Framework (CARF) to increase cross-border tax reporting.

Quick picks (by use-case)

Best overall for NZD on-/off-ramp & low friction: Independent Reserve — direct NZD support via SWIFT, tiered trading fees 0.5%→0.02%.
Best local, beginner-friendly & non-custodial option: Easy Crypto (transitioning to Swyftx) — NZ-based, FSP-registered, non-custodial flow that sends coins straight to your wallet. (Easy Crypto is being integrated into Swyftx in 2025.)
Best feature-rich Aussie platform operating in NZ: Swyftx — now absorbing Easy Crypto; supports NZD with card/third-party on-ramp and improved coin coverage.
Biggest global choice & advanced tools: OKX (P2P NZD), Bybit (derivatives focus), Crypto.com, Uphold. Check NZ availability, fees, and funding paths below.
Largest global brand registered on NZ’s FSPR: Binance New Zealand (Investbybit Ltd.) — note that FSPR registration ≠ an FMA licence; derivatives remain restricted without specific licensing.

Exchange snapshots

Independent Reserve (NZ-friendly, bank-grade feel)

NZD support: SWIFT deposits; NZD deposits ≥ $5,000 are fee-free (NZD 15 under $5,000).
Fees: 0.5% base, tiering down to 0.02% with volume.
Why pick it: Strong compliance culture (AUSTRAC-registered), clear NZD rails, OTC desk and reporting useful for SMSFs/HNW.

Easy Crypto → Swyftx (local + non-custodial; now merging)

Status: Easy Crypto (FSP691871) is being folded into Swyftx; brand transition and expanded features/coins rolling out.
Why pick it: Non-custodial by default (funds go straight to your wallet), familiar NZ deposit options historically; now gaining Swyftx tools, bundles and broader listings.

Swyftx (bigger coin list, NZD card on-ramp)

NZD deposits: Card on-ramp via Banxa (provider fees/spread apply); historical NZD support and local launch confirmed.
Why pick it: User-friendly, plenty of assets, portfolio tools; now an ANZ heavyweight after acquiring Easy Crypto.

OKX (pro toolkit; NZD via P2P)

NZD: No direct fiat wallet, but P2P marketplace supports NZD quotes to buy USDT/crypto.
Why pick it: Deep markets, low spot fees (~0.1%), strong pro features; ensure you’re comfortable using P2P for NZD.

Bybit (derivatives-first)

Note: Offshore; not licensed in NZ/AU. NZD funding typically via card/P2P routes; KYC now required for fiat on/off-ramps.
Why pick it: Liquidity and breadth for active derivatives traders; consider regulatory risk/limitations.

Binance New Zealand

Regulatory note: Registered on the Financial Service Providers Register (FSPR FSP1003864), but registration doesn’t equal an FMA licence. Derivatives require separate authorisation.
Why pick it: Scale, choice and P2P; weigh compliance caveats and product availability.

Crypto.com (ecosystem play)

Availability: App/exchange available in 100+ markets; card and fiat features vary by jurisdiction.
Why pick it: Large user base, staking/rewards, Visa card in supported markets; check current NZ fiat options.

Uphold (simple, transparent reserves)

What stands out: “Proof-of-reserves” style transparency with realtime assets/liabilities; availability spans 140+ countries (fees via spread).
Why pick it: Straightforward experience for buy/hold and cross-asset swaps; verify NZ onboarding and funding options.

How to choose

Licensing & supervision:
- Check if the platform is on NZ’s FSPR, and whether any FMA licences are relevant for products you plan to use (e.g., derivatives). Registration alone isn’t a licence.
AML/KYC expectations:
- Expect KYC. NZ’s DIA supervises VASPs under the AML/CFT Act; robust identity checks are normal.
NZD on/off-ramp:
- Look for clear NZD deposit/withdrawal options (SWIFT, card, P2P). Independent Reserve has the cleanest published NZD flow/fees today.
Security posture:
- Cold storage, audits/certifications (e.g., ISO 27001), and a clean incident record matter — especially for custodial platforms. (FMA repeatedly flags limited protections for crypto.)
True cost to trade:
- Compare posted maker/taker fees and spreads, plus deposit/withdrawal costs (e.g., third-party card on-ramps). Swyftx’s NZ card deposits use Banxa fees/spread.
Product fit:
- Beginners: Easy Crypto→Swyftx, Independent Reserve.
- Frequent traders: OKX, Bybit, Crypto.com (check NZD path).
- “Keep keys” mindset: Easy Crypto’s non-custodial flow (and a hardware wallet).

Fees & NZD funding

Independent Reserve: NZD via SWIFT (NZD ≥ $5k free; NZD 15 under $5k). Trading 0.5%→0.02%.
Swyftx: NZ card deposits via Banxa; provider charges apply (up to ~1.99% fee and spread up to ~4%). Min deposit NZD $30.
OKX: NZD via P2P (buy USDT with bank/card per merchant methods); spot fees around 0.1%.

(Always verify inside the app/site before funding — limits, partners and fees can change.)

Tax essentials for Kiwis (2025)

Crypto is property: profits from selling, trading, swapping, or using crypto are taxable income.
Records matter: IRD expects NZD valuations, income/expense calculations, and you may claim certain losses (e.g., theft) with evidence.
CARF is live: NZ adopted the OECD crypto reporting rules in 2025, increasing cross-border information sharing.

Bottom line

Want the least-friction NZD experience with a conservative approach? Independent Reserve is your first stop.
Prefer a local, beginner-friendly path that encourages self-custody — and now with more features? Easy Crypto (transitioning to Swyftx) is a strong pick.
Need deep liquidity/advanced tools? OKX (via P2P NZD), Crypto.com, and Bybit are popular — just weigh product availability and regulatory status.
Considering Binance NZ? Note the FSPR registration nuance and derivatives limitations before you dive in.