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.
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|
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
|1 – Unverified
Provided email, identity, address, source of funds
|1.5 – ID verified
Verified email, identity, address, source of funds
|2 – Verified
Verified hard copy information
|3 – Trusted
Google Authenticator enabled, hard copy documentary evidence of source of funds
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.
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
- 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
- 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
To start, you can visit the Kiwi-Coin website to create an account, or try the demo.
Image source: Kiwi-Coin