Best Crypto Exchanges in Estonia

Best Cryptocurrency Exchanges in Estonia

Our team tested the 17 crypto exchanges available to Estonian users, evaluating the options that were compliant with Estonia’s Financial Intelligence Unit (FIU). This examination considered euro deposits, trading fees, asset variety, and features. Below is a detailed comparison table of the top five platforms in Estonia.

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1. Kraken

Kraken is the top crypto exchange in Estonia, serving 10 million users worldwide and supporting over 290 cryptocurrencies. Users can engage in spot trading, margin trading with up to 5x leverage, and access over 200 multi-collateral futures contracts. The platform also provides staking services, allowing users to earn rewards up to 28% APY on their crypto holdings. 

For those interested in digital collectibles, Kraken's NFT marketplace offers zero gas fees, and the Kraken Wallet provides access to decentralized applications for on-chain transactions. Transparency is upheld through regular Proof of Reserves audits, ensuring that client funds are fully backed. Kraken also offers 24/7 global multilingual customer support, assisting whenever needed. 

• Fees: 0.16% for maker orders and 0.26% for taker orders.
• Supported Assets: Over 290 cryptocurrencies. 
• Regulation & Licensing: Kraken is registered as a VASP across Europe and is available in Estonia.
• EUR Deposit Methods: Bank transfers, credit cards, debit cards, SEPA and PayPal.

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2. Bybit

Bybit is a top exchange in Estonia, offering a comprehensive suite of trading services. The platform supports spot trading with over 1,500 cryptocurrencies and provides futures trading with leverage options up to 200x. The advanced features include trading bots, copy trading services, pre-market spot trading, TradeGPT, and a demo account for risk-free practice.

Home to over 55 million users across 160 countries, it extends its services to include the Bybit Card for seamless crypto spending, an NFT marketplace and staking services through Bybit Earn for passive income opportunities. The platform also provides an OTC desk for large-volume trades, crypto loan services, and a Launchpad to explore emerging tokens.

• Fees: 0.02% for maker orders, and 0.055% for taker orders. Spot trading is 0.1%.
• Supported Assets: More than 1,500 crypto assets.
• Regulation & Licensing: Regulated by CySEC and available in Estonia.‍
• EUR Deposit Methods: Bank transfer, SEPA, credit cards, debit cards, Wise, Apple Pay, Google Pay, Zen and Easybank.

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3. OKX

OKX provides a comprehensive suite of services, with 350 cryptocurrencies for spot trading and 730 futures trading pairs with leverage up to 50x supported. The platform’s commitment to transparency is evident through its Proof of Reserves, ensuring that all customer assets are fully backed and verifiable. It serves over 30 million customers across Estonia and 160 other countries.

In terms of Web3, it has various services, including the NFT marketplace, OKX Wallet, OKB Coin, and native blockchain, OKT Chain. The platform's DeFi aggregator simplifies access to various decentralized finance protocols, allowing users to participate in yield farming, liquidity pools, and crypto staking. Through Cryptopedia, OKX educates users on DApps across multiple blockchains.

• Fees: 0.1% fee for spot trading. 
• Supported Assets: Over 350 cryptocurrencies. 
• Regulation & Licensing: Regulated in Europe and available in Estonia.
• EUR Deposit Methods: Bank transfer, credit cards, debit cards, and SEPA.

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4. Uphold 

Uphold offers a user-friendly interface for trading a wide variety of assets, including over 300 cryptocurrencies, 27 fiat currencies, and four precious metals, such as Gold and Silver. Its commitment to transparency is evident through its real-time publication of assets and liabilities, highlighting that assets are backed on a 1:1 basis and always accessible.

The platform provides unique services, including several staking options, an OTC desk and the Uphold Card, which allows users to spend their crypto holdings directly at stores where Mastercard is accepted. Additionally, Uphold's Vault offers assisted self-custody solutions, giving users control over their assets with enhanced security features.

• 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.

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5. Coinmetro

Coinmetro is a leading cryptocurrency exchange based in Tallinn, Estonia. It provides access to over 55 digital assets, including popular cryptocurrencies like Bitcoin and its native Coinmetro Token (XCM). Users can engage in spot trading with minimal fees and benefit from advanced features such as margin trading with up to 5x leverage, allowing for more strategic investment opportunities.

In addition to trading services, Coinmetro offers on-chain staking options for assets like ETH, DOT, ADA, and FLUX, enabling users to earn passive income with competitive annual percentage rates (APRs). Coinmetro emphasizes transparency and security, maintaining full regulatory compliance and providing 24/7 customer support in Estonian to assist users at any time.

• Fees: Maker fees start at 0.1% and taker fees at 0.15%.
• Supported Assets: 56 cryptocurrencies.
• Regulation & Licensing: Licensed by Estonia’s Financial Intelligence Unit (FIU).
• EUR Deposit Methods: SEPA, bank transfers, debit cards, and credit cards.

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Is Crypto Regulated in Estonia?

Yes, Estonia enforces a structured regulatory framework for cryptocurrency, with the Financial Intelligence Unit (FIU) as the primary oversight body. It is also moving to align with the EU’s Markets in Crypto-Assets (MiCA) Regulation. As of January 2024, all virtual asset service providers (VASPs) must submit detailed reports to the FIU, disclosing activity levels and trading volumes.

This reporting process, part of Estonia’s ongoing commitment to a high level of scrutiny in the crypto sector, supports the FIU's monitoring of potential money laundering and terrorist financing risks. Over recent years, the regulatory landscape has tightened significantly. While 641 VASPs were licensed in 2021, only 45 remain today, reflecting stricter compliance requirements.

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How is Crypto Taxed in Estonia?

‍In Estonia, crypto gains are taxed at a flat rate of 20%, similar to traditional capital gains. The Estonian Tax and Customs Board (ETCB) requires individuals to declare income from various crypto activities, including converting crypto to fiat, trading between digital currencies, or using crypto for purchases. 

Estonian taxpayers must calculate crypto gains based on the difference between the sale price and the purchase cost. Only profitable transactions need to be declared, as crypto-related losses cannot be offset. To report gains, individuals should use the “Transfer of Other Property” sections (tables 6.3 or 8.3) on Estonia’s tax return forms, ensuring compliance with local tax laws.

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How to Buy Bitcoin in Estonia

Estonian investors can buy Bitcoin through an exchange that supports EUR deposits and adheres to regulations set by the Financial Intelligence Unit (FIU). Below is a quick guide to buying BTC:

1. Create an Account: Select an exchange that complies with Estonian regulations. Begin by providing your basic information, like name and email, and complete the required identity verification using a government-issued ID.
2. Deposit EUR: Access the deposit section on the platform’s dashboard, enter the amount of euros (EUR) you want to invest, and choose your preferred payment method, such as bank transfer or credit card.
3. Find Bitcoin: Navigate to the trading section, search for “BTC” to locate Bitcoin, and select the EUR/BTC trading pair. Enter the details of your intended purchase.
4. Execute the Trade: Confirm the amount of Bitcoin you wish to buy, review the transaction details, and complete your purchase.

This guide offers a clear overview of the steps from account creation to executing your first Bitcoin transaction, helping new investors in Estonia begin their crypto journey.

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Bottom Line

Choosing the best crypto exchange in Estonia depends on your trading goals and the features that align with your investment needs. For Estonian users, we recommend platforms that meet local regulatory standards, such as Kraken, Bybit, Coinmetro, OKX, and Uphold.

These exchanges cater to different experience levels and offer a variety of tools and services, from advanced trading options to beginner-friendly features.