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Kiwi-Coin review

Kiwi-Coin lets you browse bitcoin listings. Learn how it all works.

Kiwi-Coin is a lot like a bulletin board where you can place your bitcoin (BTC) buy and sell orders for others to pick up on. It aims to provide a secure and largely anonymous environment for buying and selling bitcoin in New Zealand.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Kiwi-Coin and how does it work?

Kiwi-Coin is mostly a live order book where people list the amount of bitcoin they’re buying or selling, and the price they’re asking.

You can place:

  • Simple orders. Buy or sell orders at static prices.
  • Floating orders. Buy or sell orders at prices that may change within certain limits, to reflect changes in market value.
  • Advanced order types. You can also place buy and sell orders. This may require using the API programming tools.

Your trading fees will depend on the type of trade conducted.

0.4% Market-Maker fee 0.8% Market-Taker fee
Applies to:
  • Advanced or floating orders that were sitting in the order book when taken
Applies to:
  • All simple orders
  • Advanced orders that matched with opposite offers and instantly executed
  • Floating orders whose price was changed by the system, matched an opposite order, and executed

You can get started by either creating an account, making a deposit and listing your offer, or using the demo mode to get a feel for the platform first.

Your functionality may be limited depending on your verification level, and you will need to verify your email, identity, address and source of funds before you can transfer any NZD in or out of the account.

You can start using Kiwi-Coin without providing any information at all, and remaining completely anonymous, although the functionality will be severely limited.

Account level BTC transfers NZD transfers 24-hour withdrawal limit (NZD equivalent) 30-day withdrawal limit (NZD equivalent)
0 – Anonymous

Verified email only

  • Yes
  • No
1,000 10,000
1 – Unverified

Provided email, identity, address, source of funds

  • Yes
  • No
2,000 20,000
1.5 – ID verified

Verified email, identity, address, source of funds

  • Yes
  • Yes
2,000 20,000
2 – Verified

Verified hard copy information

  • Yes
  • Yes
8,000 120,000
3 – Trusted

Google Authenticator enabled, hard copy documentary evidence of source of funds

  • Yes
  • Yes
100,000 1,000,000

How do I make transfers?

Transfers can only be made with NZ bank accounts, and bitcoin wallets as applicable.

What currencies are supported?

The only supported fiat currency is NZD, and the only listings available are NZD:BTC.

Transfer times

Once your account is verified, transfers of all kinds should be completed the same day or next day.

What are the transfer limits?

There are no deposit limits, but you should be aware of your separate 24-hour and 30-day withdrawal limits.

These limits depend on your verification level.

Is Kiwi-Coin legitimate or a scam?

Kiwi-Coin appears to be a legitimate provider despite the rough design and lack of information. It is a registered New Zealand company with an active community and some social media presence.

However, it’s not clear whether it’s a secure place to trade or the ways in which user funds held in its accounts or wallet are protected.

Pros and cons of Kiwi-Coin

Pros:

  • Might let you find competitive prices on bitcoin buying and selling, especially if you find below-market prices still listed after the prices increase.
  • Offers an API to automate trading.
  • A live order book lets you find current prices, and might let you find below-market prices

Cons:

  • You can only pick and choose from available orders rather than buy or sell more freely.
  • The information provided might not be enough for new users to get started.
  • Simple orders might leave you selling at below-market prices if the price increases
  • 0.8% fee on most trades

Next steps

To start, you can visit the Kiwi-Coin website to create an account, or try the demo.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Image source: Kiwi-Coin

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