Top Crypto Trading Platforms in Estonia

Estonia is home to some of the most secure cryptocurrency exchanges, offering seamless Euro deposits, competitive trading fees, and multilingual user interfaces. These platforms are overseen by the Estonian Financial Intelligence Unit (FIU) and adhere to MiCA regulations. This is a detailed comparison of the five best digital asset exchanges for Estonian investors.

1. Kraken

Kraken is the most trusted cryptocurrency exchange in Estonia, offering access to spot trading, margin trading (up to 5x leverage), and futures contracts. Founded in 2011, it has grown into a global powerhouse with over 10 million users and a quarterly trading volume exceeding $207 billion.

The platform supports over 350 cryptocurrencies for spot trading and 100+ derivatives contracts. For institutional investors, there is Kraken Pro, a professional trading station with deep liquidity, low latency execution, advanced trading tools and an OTC desk with dedicated account managers. 

For passive investors, Kraken’s staking program offers rewards of up to 21% APR on select tokens. Security is a top priority, with Kraken implementing industry-leading measures, including cold storage, 2FA, and regular proof-of-reserve audits, providing complete transparency in its asset holdings.

• Fees: 0.16% for maker orders and 0.26% for taker orders.
• Supported Assets: Over 350 cryptocurrencies. 
• Regulation & Licensing: Kraken is registered as a Virtual Asset Service Provider (VASP) across Europe and is available in Estonia.
• EUR Deposit Methods: Bank transfers, credit cards, debit cards, SEPA and PayPal.

2. OKX

OKX is a popular global exchange that offers over 300 digital assets. Users can engage in various trading options such as spot trading, margin trading with up to 5x leverage, and derivatives trading, including futures and options with leverage options up to 100x supported. 

It is at the forefront of Web3 with its network, OKT Chain and native token, OKB Coin. The platform integrates a non-custodial OKX Wallet, enabling users to manage DeFi assets, interact with DApps, and trade NFTs. This integration allows users to explore DeFi seamlessly.

OKX also offers yield-earning products, allowing users to borrow, lend, and stake cryptocurrencies to maximize returns. The platform's commitment to security is evident through its use of bank-level SSL encryption, transparent reserves and cold storage technology.

• Fees: 0.1% fee for spot trading. 
• Supported Assets: Over 300 cryptocurrencies. 
• Regulation & Licensing: Regulated in Europe and available in Estonia.
• EUR Deposit Methods: Bank transfer, credit cards, debit cards, and SEPA.

3. Uphold 

Uphold is a versatile investment platform providing access to multiple asset classes. The platform has over 300 cryptocurrencies, 27 national currencies, and 4 precious metals, such as Gold, Silver, Palladium and Platinum, enabling users to diversify their portfolios with ease. 

It provides features like recurring buy orders, which allow users to dollar-cost average into the market, and flexible limit orders. The platform also offers a USD Interest Account, where users can earn up to 4.40% APY on USD balances. Funds are fully FDIC insured up to $2.5 million.

Security is a priority, evident in their Uphold Vault, which operates on a multi-signature setup to enhance the safety of digital assets while maintaining user control. This hybrid approach provides both the security of a non-custodial solution and the convenience of self-custody.

• Fees: A 1% trading fee and a 1% spread fee are applicable.
• Supported Assets: 300+ cryptocurrencies, 4 precious metals, and 27 fiat currencies. 
• Regulation & Licensing: Uphold is regulated in the Republic of Lithuania and is available in Estonia.‍
• EUR Deposit Methods: Bank transfer, SEPA, Google Pay, Apple Pay, credit card and debit card.

4. MEXC

MEXC is a prominent crypto exchange that has garnered a substantial user base of over 30 million individuals across more than 170 countries since its inception in 2018. The platform is renowned for its user-friendly interface and a vast selection of 1,200 cryptocurrencies.

One of MEXC's standout features is its comprehensive futures trading offerings, supporting USDT-M perpetual futures, allowing traders to engage with various sectors such as Metaverse, Layer2, NFT, Meme, and DeFi projects. MEXC provides adjustable leverage options up to 400x.

The platform's high-performance trading engine can process up to 1.4 million transactions per second. Additionally, MEXC offers the "Convert" feature, enabling users to swiftly exchange assets between different cryptocurrencies without the need for traditional order placements.

• Fees: Zero maker fees and a taker fee of 0.02%.
• Supported Assets: Over 1,200 cryptocurrencies.
• Regulation & Licensing: MEXC is licensed by the FIU in Estonia.
• EUR Deposit Methods: Bank transfers, SEPA, credit cards and debit cards.

5. Coinmetro

Coinmetro is the leading local exchange based in Tallinn, Estonia. It offers a seamless experience for purchasing, selling, and trading over 110 cryptocurrencies. Users can engage in spot trading with low fees and benefit from advanced features such as margin trading with up to 5x leverage.

Coinmetro is licensed by the Financial Intelligence Unit of the Republic of Estonia and holds registrations in the USA, Australia, and Canada. For those looking to earn passive income, Coinmetro provides on-chain staking options for assets such as ETH, DOT, ADA, and FLUX. 

Additionally, Coinmetro's native utility token, XCM, is fully integrated into its ecosystem, offering staking opportunities and a deflationary mechanism through regular token burns. Its commitment to its community is evident through its high Trustpilot rating of 4.7 out of 5 stars.

• Fees: Maker fees start at 0.1% and taker fees at 0.15%.
• Supported Assets: 110 cryptocurrencies.
• Regulation & Licensing: Licensed by Estonia’s Financial Intelligence Unit (FIU).
• EUR Deposit Methods: SEPA, bank transfers, debit cards, and credit cards.

Is Crypto Regulated in Estonia?

Estonia has a well-defined regulatory framework for cryptocurrency, overseen by the Financial Intelligence Unit (FIU). As of January 2024, Virtual Asset Service Providers (VASPs) are required to submit detailed reports on their operations and transaction volumes to the FIU.

In recent years, Estonia has significantly tightened its crypto regulations. In 2021, there were 641 licensed VASPs in the country; today, only 45 remain due to stricter compliance measures, including enhanced due diligence, transparency requirements, and risk management protocols.

Estonia’s crypto regulations are also aligning with the European Union’s Markets in Crypto-Assets (MiCA) framework, which aims to establish uniform standards across all EU member states. The FIU continues to adopt a risk-based approach to supervision, ensuring that cryptocurrency service providers maintain high compliance standards.

How is Crypto Taxed in Estonia?

The Estonian Tax and Customs Board (EMTA) regulates cryptocurrency taxation, requiring individuals to report income from trading, conversions, payments, and crypto-to-crypto exchanges.

Key Crypto Tax Rules in Estonia:

• Capital Gains Tax: Profits from selling, exchanging, or converting cryptocurrency into euros or other digital assets are subject to a flat 20% income tax. The tax is applied to the difference between the acquisition cost and the selling price.
• Crypto-to-Crypto Transactions: Exchanging one cryptocurrency for another (e.g., Bitcoin to Ethereum) is treated as a taxable event, and gains must be reported. Losses, however, cannot be deducted for tax purposes.
• Payments in Crypto: Using cryptocurrency to pay for goods or services is considered a disposal of assets, making any resulting gains taxable.
• Crypto Mining and Staking: Income from mining, staking, or renting out computing power is classified as business income and must be reported accordingly.

Individuals must declare crypto-related income in their annual tax return (Tables 6.3 or 8.3, depending on whether the platform is domestic or international). Businesses handling cryptocurrency must comply with accounting regulations and report earnings in financial statements.

Cryptocurrency Adoption in Estonia

Estonia’s crypto market is projected to generate $1.18 million in revenue by the end of 2025, with an estimated 63,270 users participating in digital asset transactions. Despite its relatively small population, Estonia maintains one of the highest crypto adoption rates in the region. 

The presence of major exchanges, including Binance, Coinbase, Kraken, and KuCoin, ensures high liquidity, secure trading options, and seamless fiat on-ramps for EUR transactions. As Estonia prepares to implement EU-wide MiCA regulations, its cryptocurrency landscape will evolve.

How to Buy Bitcoin in Estonia

Buying Bitcoin in Estonia is a seamless process, supported by a range of crypto exchanges that facilitate EUR transactions and adhere to the country’s strict regulatory framework. Here’s a short guide to help you get started:

1. Choose Exchange: Select a regulated platform that supports EUR deposits and complies with Estonia’s Financial Intelligence Unit (FIU) guidelines.
2. Create an Account: Sign up by providing your email and creating a secure password. You must complete an identity verification process as part of Estonia's KYC regulations.
3. Deposit Funds: Once verified, deposit euros into your exchange wallet using a bank transfer, SEPA payment, or other supported methods.
4. Buy Bitcoin: Navigate to the exchange’s trading section, choose the BTC/EUR trading pair, and enter the amount of Bitcoin you wish to buy. Execute the trade once you’ve reviewed the transaction details.

By following these steps, you can efficiently buy Bitcoin in Estonia while ensuring compliance with the country’s crypto regulations and leveraging its secure trading environment.

Final Thoughts

Estonia’s strict regulatory framework, strong compliance measures, and thriving digital economy make it a prime location for cryptocurrency trading. 

With exchanges like Kraken, OKX, Uphold, MEXC, and Coinmetro, traders have access to secure platforms, competitive fees, and diverse asset offerings. Whether you're a beginner or an advanced trader, Estonia's crypto-friendly environment and integration with EU regulations ensure security.