Summary: In Finland, the optimal strategy for investing in Bitcoin and other digital currencies focuses on utilizing exchanges that adhere to Finland's Financial Supervisory Authority or relevant European directives. These authorized trading platforms support deposits in Euro (EUR), catering to Finnish preferences for payment methods such as bank transfers and credit or debit cards.
Our assessment of the top 5 exchanges specifically designed for Finnish investors highlights security and reliability. These selected platforms offer a trustworthy and knowledgeable pathway for Finnish individuals interested in exploring the cryptocurrency market.
Get the daily newsletter keeping 200,000 investors ahead of the market.
Best Cryptocurrency Exchanges in Finland
Our comprehensive review of more than 20 cryptocurrency platforms pinpoints the top five for Finnish investors. This analysis underscores adherence to Finland's Financial Supervisory Authority regulations and pertinent EU directives. We concentrate on a range of digital currencies, intuitive interfaces, support for Euro (EUR) transactions, and transparent pricing models. For Finnish investors looking for a platform that matches their investment preferences, our in-depth guide provided below is indispensable.
As Finland's top investment platform, eToro showcases an impressive array of over 4,500 financial assets. It includes leading cryptocurrencies such as Bitcoin, Ethereum and Solana, plus popular crypto stocks like Coinbase. Notably, eToro offers advanced Bitcoin ETFs, like iShares by Blackrock, giving investors innovative portfolio diversification options.
eToro's user-friendly interface and efficient Euro (EUR) deposit process comply with top European regulatory standards, ensuring reliability in Finland. The platform accommodates various investment approaches with multiple deposit methods, including bank transfers and credit/debit cards. eToro's commitment to competitive fees, approximately 1%, and favorable spreads positions it as Finland's foremost choice for cryptocurrency and ETF investments.
- Fees: eToro operates with a variable spread fee structure, generally around 1%.
- Supported Assets: eToro's portfolio features over 4,500 assets, covering well-known cryptocurrencies, innovative ETFs, and a vast array of stocks.
- Regulatory Compliance: eToro adheres to the standards set by key European financial regulators, in line with Finnish regulatory norms.
- EUR Deposit Methods: Includes bank transfers, debit/credit cards, and other preferred Finnish payment methods.
Kraken ranks as Finland's second-best cryptocurrency exchange, excelling in both institutional and retail crypto markets. It boasts significant quarterly trading volumes, surpassing $207 billion, reflecting its widespread popularity across Europe. Kraken provides trading and staking opportunities in over 250 cryptocurrencies, including Bitcoin, Ethereum, and a variety of emerging tokens.
Finnish investors value Kraken for its exceptional user experience, evidenced by its highly-rated mobile apps available on the App Store and Google Play. Its staking services are particularly noteworthy, offering up to 25% annual rewards (APY). Kraken Pro, designed for professional and institutional investors in Finland, features tight spreads, substantial liquidity, and high deposit limits, underscoring Kraken's reliability as a cryptocurrency exchange.
- Fees: Maker Orders at 0.01% and Taker Orders at 0.02%.
- Supported Assets: Over 250 cryptocurrencies for spot and margin trading.
- Regulation & Licensing: Adheres to stringent European financial regulations, with robust EUR banking support in Finland.
- EUR Deposit Methods: Includes SEPA Transfer, SWIFT, Bank Transfers, Credit and Debit Cards, among others.
Bybit secures the third position in our Finnish rankings, presenting itself as a versatile choice for investors in Finland. The platform is especially appealing to those interested in options and perpetual futures contracts. With a substantial offering of over 1,000 digital assets and efficient Euro deposit methods, Bybit caters well to the varied demands of the market. Its user-friendly design and robust security features are widely recognized.
Expanding beyond traditional cryptocurrencies, Bybit includes futures contracts with leverage options up to 25x and a growing NFT marketplace, broadening trading opportunities for enthusiasts. Offering competitive maker fees at only 0.01% and taker fees at 0.06%, and conforming to stringent European regulations, Bybit is a reliable option for traders.
- Fees: Maker fees at a competitive 0.01%, with taker fees at 0.06%.
- Supported Cryptocurrencies: Offers a vast array of over 1,000 digital assets.
- Regulation & Licensing: Regulated under European standards by CySEC and operational in Finland and 180 other countries.
- EUR Deposit Methods: Provides various options including SEPA transfers, bank transfers, debit and credit cards, Google Pay, among others.
Uphold emerges as a premier cryptocurrency platform in Finland, catering to a global user base in over 150 countries, including over 10 million users. Its distinction in Finland lies in its extensive portfolio, offering over 250 digital assets and metals like Gold and Silver, making it a top choice for Finnish investors. Uphold's notable feature is its attractive staking opportunities, allowing users to earn up to 30% Annual Percentage Yield (APY) on a diverse range of up to 30 cryptocurrencies.
Uphold's compliance with European regulations and registration with prominent financial authorities establishes it as a reliable platform in Finland. Its commitment to transparency is evident in its audited proof-of-reserves, assuring a 1:1 backing for every digital asset. The platform provides a seamless trading experience on both web and mobile interfaces (iOS and Android).
- Fees: Trading fees are fixed at 1% and spread fees also at 1%.
- Supported Assets: A broad selection of over 250 digital assets, four types of precious metals, and 27 fiat currencies.
- Regulation & Licensing: Compliant with European regulations and operational in Finland.
- EUR Deposit Methods: Bank Transfers, Google Pay, Apple Pay, Credit and Debit Cards.
OKX claims the fifth spot as a top cryptocurrency exchange in Finland, recognized for its extensive array of over 300 crypto assets. This range encompasses leading cryptocurrencies, as well as popular stablecoins such as USDT and USDC. OKX positions itself as a comprehensive financial platform for Finnish investors, providing significant liquidity and a diverse selection of premium crypto assets.
A notable aspect of OKX is its dynamic DeFi ecosystem, centered around the OKT Chain, akin to Binance's BNB Chain in functionality. This ecosystem supports high-yield DeFi investments, attracting savvy traders seeking profitable opportunities. Beyond its advanced DeFi features, OKX offers varied trading modes, including spot, margin, futures, and options trading. Its appeal is further boosted by an active NFT marketplace and advanced DeFi portfolio management tools.
- Fees: Competitive, with a spot trading fee of 0.08%.
- Supported Cryptocurrencies: A broad spectrum of over 300 cryptocurrencies, including major stablecoins.
- Regulation & Licensing: Complies with international standards, ensuring a secure trading environment for users.
- EUR Deposit Methods: Includes various options such as bank transfers and credit cards.
Is Crypto Regulated in Finland?
In Finland, cryptocurrency transactions are legal and regulated. The Financial Supervisory Authority (Fin-FSA) oversees the Act on Virtual Currency Providers, effective since May 1, 2019. This act mandates registration and compliance with specific regulations for virtual currency exchanges, custodian wallet providers, and currency issuers.
These regulations include ensuring reliability, proper management of client funds, and adherence to anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) measures, in line with the EU’s 5th Anti-Money Laundering Directive (5th AMLD).
Finland's progressive stance on cryptocurrency fosters innovation in blockchain technology. All virtual asset service providers (VASPs) must register with FIN-FSA, ensuring a secure and compliant crypto environment. The upcoming European Union Markets in Crypto-Assets Regulation (MiCA) will further strengthen the regulatory framework, reinforcing Finland's commitment to supporting advancements in the cryptocurrency and blockchain sectors.
How is Crypto Taxed in Finland?
In Finland, the Finnish Tax Administration oversees the taxation of cryptocurrency profits, categorizing them as capital income. The capital gains tax is applied to profits from buying, selling, or exchanging cryptocurrencies, with a tax rate of 30% on capital income up to €30,000 and 34% on any excess. Taxable events include converting cryptocurrencies to fiat (e.g., Euros), using them for purchases, or swapping one cryptocurrency for another.
Finnish residents are required to report their cryptocurrency gains to the Finnish Tax Administration and should keep detailed records of all transactions. Holding cryptocurrencies is not subject to tax, but any profits realized from their sale or use are taxable. Importantly, trading losses can be used to offset capital gains, which might reduce the total tax owed.
In conclusion, the Finnish cryptocurrency market offers a robust and secure environment for investors, underpinned by the adherence of top exchanges to the Financial Supervisory Authority's regulations and EU directives. Our comprehensive review highlights eToro, Kraken, Bybit, Uphold, and OKX as the leading platforms, each excelling in different aspects of crypto trading and investment, catering to various investor needs.
With Finland's clear regulatory framework and proactive stance on crypto and blockchain technologies, investors can navigate this market with confidence, supported by platforms that ensure security, diverse asset offerings, and compliance with financial standards.