The cryptocurrency sector in Europe is expanding, but with tremendous potential comes responsibility. With varying degrees of regulation in each member state, the regulatory environment around cryptocurrencies in Europe is fragmented.
On the other hand, the Markets in Crypto Assets (MiCA) legislation aims to harmonize rules throughout the EU and is expected to be fully implemented by 2024. To comply with MiCA, cryptocurrency exchanges must register with national authorities and adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. As rules change, investors seek more secure and authorized places to trade their digital assets. This blog examines Europe’s top 10 authorized cryptocurrency exchanges and provides information on their features, advantages, and things to consider before investing.
Top Regulated Crypto Exchanges in Europe
After reviewing over twenty different platforms, we identified the top ten cryptocurrency platforms for European investors. These platforms adhere very tightly to EU AML and KYC rules. They provide straightforward pricing, a large assortment of digital currencies, user-friendly interfaces, and support for transactions in euros (EUR). Our instructions below will help you start your investigation if you’re searching for a platform that meets your investing goals.
1. Uphold
Uphold presents itself as a leading alternative for fans of cryptocurrencies in Europe. With more than 260 digital assets available for trading and staking, they have an extensive range and are regulated by tier-1 authorities such as the FCA. Their user-friendly staking tool, which offers enticing rewards of up to 25% APY on certain assets, also reflects this focus on security. Being committed to openness and one of the few exchanges offering audited proof-of-reserves, Uphold further sets itself apart. Users can instantly see that their money is secure and stored on a 1:1 basis with full backing. Uphold is a trustworthy and respectable choice for European cryptocurrency investors because of its constant dedication to transparency and dependability.
2. Bitpanda
Bitpanda, one of the top European exchanges headquartered in Vienna, provides various financial services and goods. Bitpanda prioritizes security and user confidence and has licenses from reputable organizations like the German BaFin and the Austrian FMA. They have a reputation for providing staking services for cryptocurrencies such as Ethereum (ETH), Solana (SOL), and Cosmos (ATOM), and they facilitate the trading of over 2,500 cryptocurrencies, equities, ETFs, and other instruments. Along with providing a variety of payment methods like Apple Pay and Google Pay, Bitpanda also makes it simple for users to deposit money from European banks.
3. Kraken
As the fifth-largest cryptocurrency exchange in Europe, Kraken is especially well-known for its ability to serve institutional and retail customers. Kraken’s remarkable quarterly trading volumes, which exceed $207 billion, demonstrate its considerable reach and indicate the platform’s widespread appeal throughout the continent. More than 250 cryptocurrencies may be traded and staked on the site, including Bitcoin, Ethereum, Solana, and other new tokens.
As demonstrated by its mobile applications ‘ positive reviews on Google Play and the App Store, Kraken’s excellent user experience is widely valued by European investors, particularly those from the institutional sector. Kraken’s staking services are notable, as they provide yearly payouts of up to 25% (APY). Professional and institutional investors maintain Kraken’s standing as a dependable and effective exchange for informed traders.
4. Bybit
Bybit is a top-tier cryptocurrency exchange in Europe that is particularly well-liked among traders who deal in derivatives. It is a well-liked platform for novice and professional investors because of its wide selection of assets and user-friendly features. One noteworthy advantage is that it offers clients quick and free SEPA deposit choices when trading in euros (EUR). The website offers over 1,000 digital assets, accommodating various investment preferences.
Besides its wide range of alternative coins, Bybit excels in futures trading with leverage up to 25x and staking options, expanding European investment choices. Bybit is a better option for European investors because of its competitive cost structure, which includes a maker charge of 0.01%, a taker fee of 0.06%, and solid security measures. Bybit, which has over 10 million members worldwide, is praised for its extensive features and consistent service.
5. Binance
Top cryptocurrency exchange Binance is accessible in 19 European nations and is a great place to trade cryptocurrency. It allows trading of over 350 digital currencies. It offers many other services for cryptocurrency traders, including Binance Earn, Binance NFT Marketplace, Binance Pay, and many more. Advanced trading features such as margin, lending and borrowing, copy trading (which requires connecting to a third-party platform with API, such as 3Commas, Cryptohopper, or WunderTrading), and automated DCA are all available.
The regulations of Europe are adhered to by this cryptocurrency exchange. It is authorized to operate throughout Europe under a French license. Additionally, customers may deposit and receive money in euros (EUR) using various methods, including cards and SEPA transfers.
6. Coinbase
Coinbase complies with regional laws and regulations and operates in over 30 European nations. In addition, it maintains offices in Paris, Berlin, London, and Dublin. It offers a smartphone and online app for buying, selling, and safely storing Bitcoin, earning incentives, and learning about the cryptocurrency market. This exchange provides 40 fiat currencies and over 240 cryptocurrencies. Moreover, it offers a Web3 profile function that lets you add an ENS username to personalize your profile.
A Coinbase Pro version of this exchange is also available for real-time order books, charting, minimal fees, and excellent liquidity. It has a non-custodial, decentralized wallet named Coinbase Wallet. The wallet supports thousands of digital collectibles and assets and functions like staking, trading, lending, borrowing, and buying and selling NFTs.
For institutional investors, Coinbase Prime is a new service. It provides analytics, prime brokerage, trading, financing, staking, and custody services. Access to Coinbase’s top security and worldwide liquidity pool is also provided.
7. eToro
The most reputable investment site in Europe, eToro, provides access to over 4,500 assets. This pick includes essential cryptocurrencies like Bitcoin, Ethereum, and Solana and popular crypto stocks like Coinbase and Microstrategy to provide investors with more options. Investors may also buy well-known Bitcoin ETFs through eToro, such as ARKB by ARK Invest and IBIT by Blackrock.
The platform makes Depositing Euros (EUR) simple. It complies with stringent regulatory standards from leading European financial market regulators and accepts various payment options, including credit cards, bank transfers, and SEPA. eToro is Europe’s preferred multi-asset investment center, trusted by over 30 million investors due to its favorable spreads and affordable costs.
8. OKX
Crypto exchange OKX is registered in the Seychelles. It is a platform that enables you to trade, make money, and expand your cryptocurrency holdings, rather than simply an exchange. You can access many markets and tokens, including futures and spot trading. In addition, you may mine some coins, borrow and lend cryptocurrency, and explore the DeFi universe.
It is becoming increasingly well-liked not just globally but also in Europe. They have decided on France and submitted a license application. Digital arts may also be traded on OKX NFT Marketplace.
9. Coinbase
Coinbase is governed by various laws throughout Europe. It has obtained the permits required to operate as a Money Service Business (MSB) or Virtual Asset Service Provider (VASP) in several European nations, even though it does not possess a single continental license. Thanks to this strategy, Coinbase can adhere to local laws in countries like Italy, Spain, and the UK.
Coinbase uses strong security measures, including encryption, to protect customer privacy. They also use two-factor authentication (2FA), which requires a double confirmation step when logging into your account and adds an additional degree of security.
10. Blockchain.com
Blockchain.com provides an easy-to-use interface for purchasing, trading, and storing bitcoins. It started as a blockchain explorer but has developed into a full-featured service with a trading platform and wallet. It’s a well-liked option for novices because of its emphasis on security, which includes features like two-factor authentication and cold storage.
Blockchain.com is licensed and authorized under several European regulations. In Lithuania, Malta, and Estonia, it is registered as a Virtual Asset Service Provider (VASP), Virtual Financial Asset (VFA) service provider, and Financial Intelligence Unit (FIU) required entity. It also holds FCA authorization in the United Kingdom.
Is Europe a Crypto-Regulated Region?
Because of digital currencies are accepted by the European Union (EU) and its member states, investment in cryptocurrencies is legal in Europe. The regulatory environment is changing, however, with the European Council’s adoption of the Markets in Crypto-Assets (MiCA) Regulation in October 2022. MiCA, which goes into effect in 2024, promotes investor protection and establishes stringent exchange regulations without impeding the development of new digital asset technologies.
MiCA requires businesses providing cryptocurrency services in the EU to get permission from national financial authorities and to publish thorough white papers for initial coin offers (IPOs). This policy, which includes safeguards against insider dealing and market manipulation, modifies established EU securities trading laws to the particularities of cryptocurrencies. It also takes a strict stance on stablecoins, requiring firm reserves and control, particularly for extensively used tokens.
In addition to promoting the use of cryptocurrencies by established financial sectors and guaranteeing legal certainty, MiCA also enforces stringent compliance standards with severe consequences for breakers. The rule influences Europe; it may establish global norms and shape regulatory strategies in other regions.
Is there any tax on cryptocurrency in Europe?
Due to national laws and regulations, European cryptocurrency taxes differ greatly among European Union members (EU) members. Generally, depending on how they are used and the unique rules of each jurisdiction, crypto assets may be subject to income tax, capital gains tax, or both.
For example, long-term capital gains from cryptocurrency investments held for more than a year are tax-exempt in Germany, where the Federal Central Tax Office (Bundeszentralamt für Steuern) views cryptocurrencies as private money. On the other hand, cryptocurrency capital gains in France are subject to a fixed tax rate by the General Directorate of Public Finances (Direction Générale des Finances Publiques). At the same time, income from professional trading operations is subject to income tax.
Investors must obtain expert counsel or consult their local tax authorities to comprehend the precise tax consequences associated with Bitcoin transactions in their individual EU member states.
How can I buy Bitcoin in Europe?
- Select a cryptocurrency exchange that accepts your selected payment method and currency (EUR).
- Create an account on the exchange and provide proof of your residence and identity. Records such as your ID card, passport, or bank statement must be shown.
- Choose a payment option and add money to your account. You can make exchanges using bank transfers, credit cards, debit cards, PayPal, Neteller, Skrill, etc.
- After choosing which cryptocurrency to purchase, enter your desired spending limit. The “Convert” function allows you to exchange one cryptocurrency for another.
- Verify your order and get your bitcoin in your wallet or exchange.
FAQs
Which cryptocurrency exchange in Europe has the lowest fees?
Binance is one of the least expensive cryptocurrency exchanges in Europe. It charges only 0.1% for each trade, and if you possess BNB coins, you may lower fees to 0.075%.
Is it legal to trade cryptocurrencies in Europe?
Most EU member states have legalized cryptocurrencies, but each has its laws governing the sector. According to the EU, traders of cryptocurrencies are exempt from VAT, GST, and other taxes, although they may be subject to capital gains tax.
Which European exchanges are the best for day trading?
Buying and selling cryptocurrency often in a single day is known as day trading. It’s incredibly hazardous, but it may also be quite rewarding. Platforms with quick trader execution, cheap costs, lots of liquidity, and slight price slippage are necessary.
Our View
Our evaluation emphasizes how crucial it is to select European cryptocurrency exchanges that prioritize security, dependability, and compliance with local and EU laws. With an emphasis on sites like eToro, Bybit, Uphold, Bitpanda, and Kraken, European investors have the tools necessary to make wise choices in the ever-changing world of digital assets. These exchanges guarantee that transactions may be completed in euros and other European currencies, are supported by well-known payment methods, and provide a wide range of digital currencies and user-friendly trading experiences.
