This report assumes no prior crypto knowledge. Technical terms are underlined with a dotted line — hover (desktop) or tap (mobile) for a quick definition, and there's a full glossary in Section 1. Every factual claim links to its source so you can verify it yourself.
Section 1 explains the jargon. Section 2 explains the types of wallet (they are not all the same thing). Section 3 reviews ten of the best-known wallets with pros, cons and fees. Sections 4–6 cover the part that trips most people up: moving real money between your bank and crypto — including why Wise causes problems, what works internationally, and which New Zealand banks make life hard. Nothing here is financial advice.
If a term elsewhere in this report has a dotted underline, its definition is here.
Before comparing brands, it helps to know that "wallet" covers several different tools. Most people end up using two or three together — for example a custodial on-ramp to buy, a non-custodial wallet to hold, and maybe a hardware wallet for savings.
Ten of the best-known wallets and on-ramps, grouped roughly by type. "Best for" is a neutral pointer to each one's strongest use case — not a recommendation to buy.
Since 17 December 2025, the PIN Network is available only in New Zealand, Australia and Papua New Guinea.src Separately, from 11 May 2026 adding new Web3 Mastercards to Apple Pay is suspended (existing cards and Google Wallet are unaffected).src
"Coinbase" the exchange is custodial (they hold your keys). "Coinbase Wallet" is a separate, self-custody app where you hold your own keys.src
Anyone can inspect every line of Unstoppable's code on GitHub (MIT licence), so there are no hidden back doors or secret data collection.src
Trustyfy doesn't hold your crypto. You connect your own wallet, and it adds multi-currency crypto-friendly bank accountsBank accounts (with their own account numbers/IBANs) designed to work with crypto platforms. and a Visa debit card on top. Its terms state it "can't suspend, freeze, or cancel" your funds.src
Wise's own help pages and Acceptable Use Policy state you cannot use Wise to send money to cryptocurrency exchanges, to crypto wallets, or to buy crypto. Wise can reject those payments and, in some cases, close the account.srcsrc
Why? Wise is a heavily regulated payment institution, and crypto flows create anti-money-laundering (AML) compliance burden. Blocking them is simpler for Wise than monitoring them — it's a policy choice, not a technical limit.
Both things can be true at once. Trustyfy gives you multi-currency bank accounts (IBAN-style) that behave like a normal bank account.src A SEPA/euro transfer to that account can look to Wise like an ordinary bank-to-bank payment — not a payment to a recognised crypto exchange — so it may go through where a transfer to an obviously-crypto recipient would be blocked.
Important honesty caveat: we could not find an official source confirming that "EUR works but GBP doesn't," and sending to a crypto-linked destination still falls under Wise's prohibited uses regardless of currency. So: members reporting success with EUR → Trustyfy is plausible and consistent with how IBANs work, but it is not officially supported, not guaranteed, and could be blocked or trigger an account review at any time. Treat any Wise→crypto route as "works until it doesn't," and never route money you can't afford to have frozen.
Use a real bank, not Wise, for the crypto leg. A high-street bank → a regulated exchange (e.g. Coinbase) or → a crypto-friendly account is generally more robust than routing through Wise, because those banks/exchanges expect crypto activity and are set up for it.
Keep Wise to what it's best at: pure currency exchange between your own bank accounts (e.g. GBP → NZD into your NZ bank). Once the money is sitting in a normal bank account, use a local on-ramp from there. This keeps Wise entirely out of the crypto world and protects the account.
Where you live changes which on-ramp is easiest. This is a practical starting point, not a complete list.
Coinbase holds an EU MiCAThe EU's crypto regulation (in force 2025) that lets a licensed firm operate across all 27 member states. licence (2025) and operates across all 27 EU states with SEPAStandard euro bank-transfer network across Europe. euro deposits — SEPA deposits cost about €0.15 on Coinbase Exchange.srcsrc Because it's a large, licensed exchange, EU banks generally tolerate transfers to it. Trustyfy's euro accounts are the other route the team already uses (with the Wise caveat above).
Coinbase UK accepts free GBP deposits via Faster PaymentsThe UK's instant bank-transfer system for pounds..src Funding from a normal UK bank (e.g. a high-street current account) into a regulated exchange is generally cleaner than going through Wise. Buy a stablecoin like USDC there, then withdraw to your own wallet.
Pay It Now and Easy Crypto are the common NZD on/off-ramps, funded by ordinary NZD bank transfer. They mostly work fine, but some banks add friction (Section 6). NZ is also tightening AML rules — crypto ATMs are being banned and international cash transfers capped at NZ$5,000.src
Pay It Now also operates in Australia with local AUD banking. Several major Australian banks have, in recent years, introduced limits or holds on payments to crypto exchanges — we did not verify each AU bank's current policy for this edition, so check directly with your bank. For other countries, the same principle holds: prefer a locally-regulated exchange funded from a normal bank account, and keep money-transfer services like Wise out of the crypto leg.
For Kiwi readers: NZ's big banks are cautious about crypto and treat it as high-risk. They rarely block a personal customer simply buying crypto, but they can delay, query, scam-warn, or in some cases refuse transfers — and they've de-banked crypto businesses outright (Easy Crypto has publicly complained; the exchange Dasset lost its banking).src
Westpac NZ — most risk-averse: considers the digital-currency exchange industry high-risk and "would not routinely provide its participants with banking services."src
ANZ — risk-averse but permits personal customers to buy crypto using ANZ facilities, as long as there's no commercial/on-behalf-of-others interest.src
BNZ — doesn't outright prohibit crypto businesses but categorises them high-risk with a higher onboarding bar.src
ASB — case-by-case; frames its caution as keeping customers safe under AML/sanctions rules.src
Kiwibank — the most open of the big five; case-by-case with AML/CFT compliance evidence required.src
These on-record bank statements are the clearest available, but they were given to RNZ in 2023 and bank policies change. Treat them as direction-of-travel, not a guarantee — confirm your own bank's current position before moving larger sums. In practice, most everyday PIN/Easy Crypto purchases from a personal NZ account go through; problems are most common with larger amounts, business accounts, or repeated exchange transfers.
Scroll sideways on mobile to see all columns.
| Feature | PIN | MetaMask | Trust Wallet | Coinbase W. | Phantom | Exodus | Unstoppable | Trustyfy | Ledger | Trezor |
|---|---|---|---|---|---|---|---|---|---|---|
| Type | Custodial on-ramp | Hot wallet | Hot wallet | Hot wallet | Hot wallet | Hot wallet | Hot wallet | Fiat bridge | Hardware | Hardware |
| You hold keys? | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Open source | No | Partial | Yes | Partial | No | No | Yes | No | Firmware no | Yes |
| Multi-chain | In-app only | EVM only | 100+ | ~20 | Many | 300+ assets | Many | Via wallet | Broad | 9,000+ |
| Fiat on-ramp | NZD/AUD native | No | 3rd-party | Via Coinbase | 3rd-party | 3rd-party | No | Built-in | No | No |
| Fiat account / card | Virtual card (NZ/AU) | No | No | No | No | No | No | Accounts + Visa | No | No |
| No KYC | KYC req'd | No KYC | No KYC | No KYC | No KYC | No KYC | No KYC | KYC for fiat | No KYC | No KYC |
| USDC support | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| In-app swap fee | ~1–2% spread | 0.875% | Rate markup | DEX spread | Service fee | ~1–4% | Varies | — | — | — |
| Up-front cost | Free | Free | Free | Free | Free | Free | Free | $15 / $60yr | $59+ | $79+ |
| Best for | NZ/AU on/off-ramp | ETH DeFi | Many coins, simple | Coinbase users | Solana / UX | Cross-device | Privacy | Spend + banking | Cold storage | Cold + open source |
There's no single "best wallet" — it depends on the job. Most people combine a few. Pick based on your situation; none of this is financial advice.
Generic flows showing what tends to work and what to avoid. Adapt to your own bank and country.
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