This FAQ covers the most common questions about easycrypto, a crypto exchange platform popular in New Zealand and Australia. Whether you're a beginner wondering how to buy your first Bitcoin or an experienced trader comparing fees, you'll find clear and direct answers here.

What is easycrypto?

easycrypto is a cryptocurrency exchange and brokerage service that allows users to buy, sell, and swap digital assets easily, with a focus on simplicity and security.

Founded in 2017, easycrypto is headquartered in New Zealand and also operates in Australia. It is known for its user-friendly interface, making it an excellent choice for beginners. The platform supports a variety of cryptocurrencies, including Bitcoin, Ethereum, and many altcoins. Unlike traditional exchanges with complex order books, easycrypto uses a simple buy/sell model, similar to a broker, which simplifies the process for newcomers.

How does easycrypto work?

easycrypto works as a broker, meaning users can buy or sell cryptocurrencies at a set price, and the platform handles the transaction directly.

When you place an order, easycrypto finds a liquidity provider and executes the trade on your behalf. This removes the need to navigate order books or worry about slippage. You can place market orders (buy/sell at the current price) or limit orders (set your own price). The platform also offers a swap feature for exchanging one crypto for another. For beginners, the process is as simple as entering the amount you want to spend, selecting your payment method, and confirming the purchase.

Is easycrypto safe and secure?

Yes, easycrypto is considered safe and secure, with strong regulatory compliance and robust security measures in place.

easycrypto is registered with the New Zealand Financial Service Providers Register (FSP) and complies with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. In Australia, it is registered with AUSTRAC. The platform also uses two-factor authentication (2FA) for user accounts and stores the majority of funds in cold storage (offline) to protect against hacks. Additionally, easycrypto has never been hacked, which is a testament to its security practices.

What are the fees on easycrypto?

easycrypto charges a spread (the difference between buy and sell prices) and an additional fee depending on the payment method, with card purchases having the highest fees.

For bank transfers in NZD, the fee is around 0.5% to 1% depending on the transaction size. Credit and debit card purchases incur a higher fee, typically around 2% to 3% due to processing costs. The spread is also slightly higher than some exchanges, but easycrypto is transparent about costs. For example, buying Bitcoin via bank transfer might cost about 1.5% total, while card purchases could be around 3-4%. You can check the exact fee on the platform before confirming any transaction.

How do I buy crypto on easycrypto?

To buy crypto on easycrypto, you first need to create an account, complete identity verification, then select a cryptocurrency and payment method.

  1. Create an account on the easycrypto website or app.
  2. Complete KYC verification by uploading your ID and proof of address.
  3. Link a payment method: bank transfer, card, or POLi.
  4. Choose the cryptocurrency you want to buy (e.g., BTC, ETH, XRP).
  5. Enter the amount you want to spend (in NZD or AUD) or the amount of crypto you want.
  6. Review the price and fees, then confirm the purchase.

The crypto will be sent to your easycrypto wallet or an external wallet if you provide the address. Most bank transfers are processed within a few hours on business days.

What cryptocurrencies are supported on easycrypto?

easycrypto supports over 120 cryptocurrencies, including all major coins and many popular altcoins.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Cardano (ADA)
  • Solana (SOL)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • And many more

You can view the full list on their website. The platform also regularly adds new projects based on demand and market relevance.

easycrypto vs. exchanges like Binance: which is better?

easycrypto is better for beginners and those who value simplicity, while Binance offers lower fees and more advanced features for experienced traders.

easycrypto's strengths are its ease of use, local support in NZ and Australia, and regulatory compliance. It's ideal for buying and holding crypto without the complexity of order books. Binance, on the other hand, has significantly lower fees (often below 0.1%) and a huge range of trading tools, but it can be overwhelming for beginners. Additionally, Binance has faced regulatory issues in some jurisdictions, whereas easycrypto is fully compliant locally. If you're just starting out or want a straightforward way to buy crypto, easycrypto is a great choice.

Is easycrypto a good choice for beginners?

Yes, easycrypto is an excellent choice for beginners due to its user-friendly interface, helpful customer support, and educational resources.

The platform is designed to make crypto buying as simple as possible. It offers a clean interface, clear pricing, and step-by-step guides. Their customer support is responsive and can help with any issues. Additionally, easycrypto provides educational content on their blog to help new users understand crypto fundamentals. For those in New Zealand and Australia, it's one of the most trusted and accessible options.

Final Thoughts

easycrypto stands out as a beginner-friendly platform that simplifies the process of buying and selling cryptocurrencies. With its strong security, regulatory compliance, and wide range of supported assets, it's a reliable choice for anyone looking to enter the crypto space.

Whether you're making your first purchase or adding to your portfolio, easycrypto's transparent fee structure and straightforward interface make it easy to get started. While more advanced traders might prefer lower-fee exchanges, easycrypto's focus on ease of use and local support makes it a top pick for newcomers.