Best Crypto Exchanges in Estonia
Explore Estonia's top picks for the best crypto exchanges, offering secure trading environments and comprehensive asset selections.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Summary: In Estonia, investing in Bitcoin and other digital currencies requires using a platform that aligns with Finantsinspektsioon (Estonian Financial Supervision Authority) regulations. These platforms deliver secure transactions and support various deposit methods, such as SEPA transfers, local bank transfers, credit cards, and debit cards, ensuring ease of use for Estonian investors.
To help you effectively navigate the digital asset market, our team has assessed the top 5 trading platforms available to Estonian residents. These exchanges are regarded for their integrity, user-friendliness, and steadfast commitment to European financial guidelines, positioning them as the most dependable and credible options in the market.
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Best Cryptocurrency Exchanges in Estonia
Our detailed review of more than 20 cryptocurrency services pinpoints the leading five for Estonian investors. This study emphasizes adherence to the Estonian Financial Intelligence Unit (FIU) regulations and pertinent EU policies, presenting a variety of digital currencies, intuitive platforms, support for transactions in Euro (EUR), and transparent fee policies. For Estonian investors searching for a platform that matches their investment requirements, the succinct guide provided here is crucial.
1. eToro
As Estonia's premier investment platform, eToro offers an extensive selection of over 4,500 financial assets, encompassing leading cryptocurrencies such as Bitcoin, Ethereum, and Solana, alongside popular crypto stocks, including Coinbase. Notably, eToro also offers popular Bitcoin ETFs, like iShares by Blackrock, providing investors with innovative opportunities for portfolio diversification.
eToro's platform is designed for ease of use, with a streamlined Euro (EUR) deposit process that aligns with stringent European regulatory standards, guaranteeing a dependable experience in Estonia. The platform supports a range of investment strategies through various deposit options, such as bank transfers and credit/debit cards. With a commitment to competitive fees and advantageous spreads, eToro stands out as Estonia's top choice for engaging in cryptocurrency and ETF investments.
- Fees: eToro utilizes a variable spread fee model, typically around 1%.
- Supported Assets: eToro's assortment includes over 4,500 assets, featuring well-known cryptocurrencies, cutting-edge ETFs, and an extensive selection of stocks.
- Regulatory Compliance: eToro meets the criteria established by leading European financial authorities, in harmony with Estonian regulatory standards.
- EUR Deposit Methods: Incorporates bank transfers, debit/credit cards, and other preferred Estonian payment solutions.
2. Uphold
Taking the second position in Estonia's crypto landscape, Uphold offers a broad portfolio of over 250 digital assets for buying, selling, and staking. Uphold is a popular alternative to eToro, excelling with its diverse range of crypto assets, support for staking to earn yield and alternative deposit methods that include modern options like Google Pay and Apple Pay.
Uphold's unique selling point is its audited proof-of-reserves feature. This provides real-time data showing how customer funds are being safeguarded, thereby guaranteeing a 1:1 backing of all assets. This unprecedented transparency makes Uphold one of Estonia's most secure and reliable crypto exchanges.
- Fees: A 1% trading fee and a 1% spread fee are applicable.
- Supported Assets: 250+ cryptocurrencies, 4 precious metals, and 27 fiat currencies.
- Regulation & Licensing: Uphold complies with European regulations under the Republic of Lithuania and is available in Estonia.
- Euro Deposit Methods: Bank Transfer, SEPA, Google Pay, Apple Pay, Credit/Debit Card, and other commonly used payment methods.
3. Kraken
Claiming the third position in Estonia's cryptocurrency landscape, Kraken is notably the longest-running crypto exchange, founded in 2011. It has secured strong market traction with impressive quarterly trading volumes. Adapted to the needs of Estonian investors, Kraken features a diverse lineup of over 250 cryptocurrencies, including key assets like Bitcoin, Ethereum, and Litecoin, as well as various emerging tokens.
Focused on optimizing user experience, Kraken boasts top-rated mobile apps, available on both the App Store and Google Play. Additionally, Kraken provides staking services, enabling Estonian users to earn up to 25% annual rewards (APY). Kraken Pro, its specialized trading interface, is designed to cater to retail and institutional traders in Estonia, offering advantages like low spreads, abundant liquidity, and substantial deposit limits.
- Fees: 0.16% for Maker Orders and 0.26% for Taker Orders.
- Supported Assets: Over 250 spot and 100+ markets with margin trading capabilities.
- Regulation & Licensing: Initially focused on the U.S. market, Kraken complies with Finantsinspektsioon (Estonian Financial Supervision Authority) regulations.
- Euro Deposit Methods: Bank Transfers, Credit/Debit Cards, SEPA, Sofort and more.
4. Bybit
Bybit is a top choice for crypto trading in Estonia, especially when it comes to derivatives. With options for more than 1,000 assets in spot markets and over 200 contract choices, the platform boasts a global user base of 15 million people. What sets Bybit apart is its 24/7 customer service and strong focus on providing reliable and secure trading opportunities. From spot trades to NFTs, they offer a wide range of financial products for everyone.
What makes Bybit stand out are its core values: reliability, a diverse range of products, and unique trading opportunities. The platform puts a heavy emphasis on security and liquidity, especially in the derivatives markets. Whether you're interested in growing your assets through their "Earn" feature or looking for low-risk investments, Bybit has you covered. Founded in 2018 by Ben Zhou, the platform successfully combines traditional finance with decentralized options to offer a one-of-a-kind trading experience.
- Fees: A 0.01% fee applies to maker orders, and a 0.06% fee applies to taker orders. No fees are charged for Euro deposits and withdrawals.
- Supported Cryptocurrencies: The platform supports over 1,000 different crypto assets.
- Regulation & Licensing: Bybit is regulated and audited, with availability in 180+ countries, including Estonia.
- Euro Deposit Methods: Accepted methods include Bank Transfer, SEPA, Credit Card and much more.
5. OKX
In Estonia's crypto trading scene, OKX ranks as a strong fifth option, particularly excelling in features tailored for Web3 users. The platform offers an extensive selection of over 300 cryptocurrencies and various advanced trading instruments like futures, options, and margin trading. In addition, its OKX Wallet allows for a smooth transition between centralized exchange services and decentralized finance platforms like AAVE and Uniswap, making it a versatile choice for those engaged in both spheres.
OKX stands out for its rigorous focus on security and its easy-to-use interface. The platform offers one of the most secure staking services, meeting Estonia's strict financial regulations. Its comprehensive API options and zero maker fees add to its attractiveness, particularly for institutional investors and Web3 enthusiasts looking for a reliable and forward-thinking platform.
- Fees: 0% for Maker orders and 0.2% for Taker orders, with a standard 0.1% fee for instant spot trading.
- Supported Assets: Over 300 cryptocurrencies and leveraged trading options.
- Regulation & Licensing: Originally based in Seychelles, OKX fully complies with financial regulations in Estonia.
- Euro Deposit Methods: Bank Transfer, Credit/Debit Card, and other widely accepted methods.
How is Crypto Regulated in Estonia?
Estonia's approach to cryptocurrency regulation is characterized by rigorous legislation and oversight, managed by the Estonian Financial Intelligence Unit (FIU) and supported by amendments to anti-money laundering laws effective from November 27, 2017. These laws mandate that all entities providing services for the exchange of virtual currencies for fiat and those offering virtual currency wallet services must secure licenses to operate. This framework aims to ensure a secure and transparent ecosystem for digital currency exchanges, aligning with Estonia's commitment to prevent financial crimes.
The regulatory landscape further evolved in April 2019 when the FIU introduced stricter requirements for obtaining a cryptocurrency license. These include the payment of a licensing fee, establishing a physical office in Estonia, and adhering to strict customer identification procedures. The subsequent revocation of over 1,000 licenses in 2020 demonstrates the authorities' resolve to enforce compliance rigorously.
How is Crypto Taxed in Estonia?
In Estonia, the Estonian Tax and Customs Board oversees the taxation of cryptocurrency, targeting income from trading, converting between cryptocurrencies, and using crypto for goods and services payments. Mining income is classified as business income. All forms of income received in cryptocurrency, including rent and interest, are subject to income tax.
Taxable and non-taxable crypto activities are clearly defined, exempting transactions such as donations and buying crypto with fiat from taxation. Gains from crypto transactions are taxed at a standard rate of 20%, based on the net gain between buy and sell prices or the value of exchanged property. However, losses from crypto exchanges are not deductible.
For tax purposes, cryptocurrencies are regarded as property, and transactions resulting in taxable income must be reported in the tax return, with the conversion of crypto values to euros based on the market rate at the transaction date.
Bottom Line
In conclusion, selecting the appropriate cryptocurrency exchange is crucial for investors in Estonia, where financial activities are closely regulated. Our comprehensive review highlights eToro, Uphold, Kraken, Bybit, and OKX as the leading exchanges, chosen for their compliance with Estonian Financial Intelligence Unit (FIU) standards, diverse asset offerings, and superior user experiences.
These platforms provide a solid foundation for both newcomers and experienced investors aiming to expand their portfolios within a secure and regulated environment. By choosing these recommended exchanges, you align with Estonia's stringent financial regulations, ensuring a lawful and profitable investment experience
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