Who Should Make Use of This Crypto Trading Platform Comparison?
This New Zealand crypto trading platform guide is ideal for newcomers, seasoned crypto investors and everyone in between. Buying Bitcoin or another cryptocurrency for the first time can be a daunting process, so our crypto trading reviews can help you find a user-friendly brokerage site that simplifies it for you.
This comparison is also useful for veteran crypto traders. The market is still pretty young, it moves quickly, new sites launch on a regular basis and existing crypto trading sites are regularly revamped. It therefore helps to bookmark this page and check on a regular basis to see if you could benefit from a better deal or superior service by switching from your existing cryptocurrency trading to another.
How to Identify the Best Crypto Trading Platform New Zealand
Anyone searching for the best crypto trading platform New Zealand should keep these key criteria in mind:
High crypto trading fees can seriously eat into your margins. Remember that you generally have to pay a fee when buying and when selling and speculating, while most cryptocurrency exchanges also charge a fee for withdrawals, which is worth bearing in mind if you plan to transfer your coins to external crypto wallets or withdraw NZD to your bank account. Some people buy crypto to use it for retail purposes, but most trade it or invest in it in a bid to earn a profit. They hope the price of Bitcoin, Ether or any other coin they buy will increase, allowing them to earn a substantial reward, but high fees can wipe out your profits.
Many cryptocurrency trading platforms have been hacked in the past, and a lot of traders are still reeling from the Mt. Gox fiasco. If you plan to store crypto in an exchange hot wallet for any significant period of time, you should search for a site that has not had any security breaches in the past few years. Basic protocols like two-factor authentication and aggressive encryption software are important, but check feedback from customers and general news archives to delve into a crypto trading site’s security history too.
The best crypto trading platform New Zealand sites are easy to use. They are laid out in an intuitive manner, easy to navigate and free of clutter. You should be able to quickly buy, sell and speculate upon a variety of cryptocurrencies, and the withdrawal process should be smooth and painless. Many crypto trading sites struggle when it comes to customer service, but you should at least receive a response via email within a couple of days when you make a request. The best sites offer various analytical tools and charting to help you make a success of crypto trading too, and they work well on a broad range of mobile devices.
The crypto trading sector is pretty new and regulation is somewhat unreliable, so you really have to stick to trustworthy sites that have built up a reputation for facilitating safe and reliable trades. There are a number of scam artists circling the crypto space, so anything that sounds too good to be true should set alarm bells ringing. The leading exchanges will send the crypto to your wallet in a reliable and secure fashion, so make sure you stick to them.
The best places to buy crypto currency online will offer a large range of altcoins for you to buy, sell and exchange. They are also quick to list new coins after ICOs. Some sites allow you to trade crypto CFDs alongside a wide range of other instruments, so you can check out the likes of Plus 500 crypto trading and XTB crypto trading if that interests you. The best sites are versatile enough to include a wide variety of payment methods, and they add new banking options that grow in prominence, while they also offer various bonuses and promotions for customers to take advantage of.
Editor’s Recommendation – Our Top Crypto Trading Platforms
Coinbase is a very good cryptocurrency trading platform for beginners. The site is very user-friendly, with a clear, uncluttered design and a very simple trading window. It allows you to buy and sell the most popular cryptocurrencies without any hassle, and transactions are quick. It was hacked a few years ago, but its security record has been very strong since then.
If you want a more advanced crypto trading platform, Binance is an excellent choice. It is the world’s largest crypto exchange by every conceivable metric, so it has high liquidity and low slippage. It offers a very broad range of cryptocurrencies, and it is extremely quick to list new coins after ICOs.
Binance also offers far more advanced charting than Coinbase. It is not quite as friendly for beginners, but once you get the hang of it you can make quick and easy trades. The trading fees are lower than Coinbase, and you still receive a small discount if you use Binance Coin to pay those fees. Binance is building up a broad ecosystem beyond its exchange, and its Launchpad has proved to be very popular. It has a strong security record and a committed development team.
Bitcoin withdrawals can be expensive, but Binance ticks pretty much every box, which is why it has firmly established itself as the world’s most popular cryptocurrency trading platform.
If you want to trade crypto for short-term gain, you might be interested in a FPMarkets review. It offers CFDs (contracts for difference) on the most popular cryptocurrencies, including Bitcoin, Ethereum, XRP (Ripple), Bitcoin Cash and Litecoin. You do not need a digital wallet, as you can go long or short on any of the coins it covers.
How Our Experts Test Crypto Trading New Zealand Sites
Our team of experts will sign up for accounts with all the trading platforms available in New Zealand. That includes exchanges like Binance, Kraken and Coinbase, and sites that offer CFDs on cryptocurrencies, such as FP Markets, Plus 500 and XTB. They monitor the ease, speed and security of the registration and verification process, and then start trading crypto.
The reviewers crunch the numbers in order to work out which sites offer the lowest spreads, the lowest slippage, the highest liquidity and the most competitive fees. They examine the number of cryptocurrencies that can be traded, and then they place several trades.
Our reviewers know the cryptocurrency trading sector well, so they know how to separate the best crypto trading New Zealand sites from those that are not worth your business. They will assess how user-friendly each site is, focusing on the design, ease of navigation, charting and analytical tools on offer. They make deposits and withdrawals to check how quick, secure and efficient the process is, and they interact with customer service representatives to test their knowledge levels, friendliness and the waiting times.
Our reviewers also dig deep into the security record, ownership and general reputation of each crypto trading platform New Zealand. We only recommend safe, trustworthy crypto trading operators that can demonstrate a long history of fairness and reliable payouts.
Once they have assembled a robust body of information about each available crypto trading New Zealand site, our reviewers pit them against one another in order to identify the very best operators. We go back and test them again on a regular basis to make sure they uphold their high standards, and we will swiftly remove them if they slip.
Our reviewers are also constantly on the hunt for new and exciting crypto trading platforms, and we will highlight any high-quality newcomers to the market, so you should bookmark this crypto trading New Zealand guide and return on a regular basis.
Finding the Perfect Cryptocurrency Brokers for You
You can find your perfect cryptocurrency trading platform by figuring out the sort of trading you plan to conduct and your priorities as a trader. If you want to invert NZD to cryptocurrency and take part in spot exchange crypto trading, margin trading, futures, staking, lending or even joining a crypto mining pool, Binance would be a great choice. It has low slippage, high liquidity and excellent versatility.
If you do not want to actually hold crypto, but simply speculate on how it will perform, finding a site that offers cryptocurrency trading CFDs would be a great idea. FP Markets is a strong choice, because you can take part in crypto trading without the need for a crypto wallet, and trade on leverage with low spreads. Check out the crypto reviews, learn more about the coins, work out the volume you plan to trade, figure out whether you or not you need advanced charting, and you will soon find your ideal cryptocurrency trading platform.
How to Sign Up at Crypto Trading Platforms
It should be quick and pretty painless to sign up at the leading crypto trading platform New Zealand sites. If you opt for Binance, you can follow these simple steps:
- Visit the site and click on the yellow “Register” button at the top of the homepage.
- Enter your email address, choose a password, agree to the terms and conditions and click “Create Account”.
- Move the jigsaw piece to the middle of the screen to prove you are not a robot.
- Click the link sent to your email address to verify it, and enter your account activation code.
- You can now start to trade cryptocurrency.
Registering with Multiple Cryptocurrency Trading Sites
It might make sense to sign up for multiple cryptocurrency trading platforms. One site might have the lowest spreads, but a narrow range of coins. A rival site might have slightly less attractive trading terms, but a far larger array of altcoins to trade. You should therefore consider signing up for multiple sites.
Crypto traders generally need to move quickly, so you should ensure you are able to rapidly trade as many altcoins as possible by verifying accounts with multiple sites. You might also like to go for a more traditional exchange such as Coinbase alongside a CFD trading platform like Plus 500.
Best Cryptocurrencies to Trade
The most popular cryptocurrency for trading is understandably Bitcoin. It is by far the largest cryptocurrency, and it can be spent at several sites, including buying property, crypto gambling at a crypto casino, ordering pizza or snapping up a new car. It has a large market cap, but it is still prone to the sort of volatility that traders love.
You would probably not want to trade Tether, as that essentially amounts to going long or short on the US dollar, but most cryptocurrencies are prone to wild fluctuations. Ethereum, XRP, Bitcoin Cash, Litecoin, Cardano and Polkadot are some of the most popular coins among crypto trading aficionados, and Dogecoin is another interesting option due to the swift peaks and troughs it displays.
Conclusion – Finding the best crypto trading platforms in NZ
Crypto trading is a fun, exciting, risky and volatile pursuit. You can give yourself the best possible chance of success by registering with a safe, reputable broker that will treat you fairly, pay out on time, charge reasonable fees, guarantee low slippage and offer a user-friendly crypto trading platform with lots of analytical tools. Avoid anything that sounds like it could be a scam. Stick to the trusted sites featured on this page and consider signing up with more than one crypto trading platform in order to improve your agility as a trader.