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Summary: Ireland understands the benefits of blockchain technology and has taken steps to encourage its development by implementing regulations governed by the Central Bank of Ireland. Irish investors can safely enter the cryptocurrency market using compliant exchanges that accept deposits in EUR and GBP through popular methods like SEPA, FPS, and bank transfers.
To assist those new to cryptocurrency trading, our team has identified the five best digital asset exchanges accepting EUR deposits:
eToro is the best platform for Ireland due to its diverse portfolio of over 4,500 assets, unique features like Social Trading, competitive fees, and compliance with European regulations.
Bank Transfers, SEPA, Debit Card, Credit Card and more.
4,500 Cryptos, Stocks, ETFs and more.
The CySEC, FCA and other Tier-1 Regulators.
Best Cryptocurrency Exchange Ireland
After comparing the 18 cryptocurrency investment platforms available in Ireland, we have identified the top options. Our evaluation focuses on factors such as compliance with the Central Bank of Ireland (CBI) regulations, EUR and GBP deposit methods, ease of use, and the fee structure. Below is a comparison table of the five best exchanges for Irish traders.
1. eToro
eToro is the best investment platform in Ireland, offering access to over 4,500 financial instruments to its user base of 30 million. This selection includes major cryptocurrencies like Bitcoin and Ethereum, plus a range of traditional assets like stocks, ETFs and commodities. This collection allows Irish investors to diversify their portfolios through a single interface.
One of its unique features is the Copy Trader service, which allows users to follow and automatically mimic the trades of successful eToro traders. The exchange has a simple interface and supports various EUR and GBP deposit methods. It also operates under the oversight of premier European authorities, maintaining regulatory compliance in Ireland.
- Fees: Variable spread fee model of around 1% for cryptocurrency.
- Supported Assets: Over 4,500 cryptocurrencies, ETFs, commodities, and stocks.
- Regulation & Licensing: Regulated by the FCA & CySEC and is available in Ireland.
- EUR Deposit Methods: Bank transfers, SEPA, FPS, debit, and credit cards.
2. Uphold
Uphold is a beginner-friendly crypto trading platform with a user base of 10 million across Ireland and 150 other countries. It offers a diverse portfolio of over 250 digital assets to trade and stake with up to 25% APY. In addition to crypto, it provides access to commodities, including Platinum, Palladium, Gold and Silver, plus 27 fiat currencies.
It is a transparent and trusted exchange that complies with Irish and European regulatory standards. Uphold's commitment to transparency is evident in its audited proof-of-reserves, guaranteeing that each digital asset is backed 1:1. The platform’s services can be accessed across the web, iOS, and Android devices.
- Fees: 1% - 1.5% trading fee and a 1% spread.
- Supported Assets: 250+ digital assets, 4 precious metals, and 27 fiat currencies.
- Regulation & Licensing: Registered with the Financial Conduct Authority (FCA) and the Bank of Lithuania.
- EUR Deposit Methods: Bank transfers, SEPA, Google Pay, Apple Pay, and credit or debit cards.
3. Bybit
Bybit is the world's most popular futures trading platform, with over 32 million registered users in 160 countries, including Ireland. It accepts deposits in Euros, Pounds, and 60 other fiat currencies through global payment methods. More than 1200 cryptocurrencies are available to trade on spot, derivatives, and options markets with competitive fees.
A key attribute of Bybit is its comprehensive range of derivatives products, which include up to 100x leverage and strong liquidity. The exchange regularly publishes its asset reserves to show that funds are fully backed and always accessible. There are a variety of useful features supported, such as staking, lending, borrowing and copy trading services.
- Fees: 0.02% maker and 0.055% taker fee for futures, and spot trading starts from 0.1%.
- Supported Assets: More than 1200 digital assets.
- Regulation & Licensing: Complies with CySEC and FCA regulations and is available in Ireland.
- EUR Deposit Methods: Bank transfers, debit cards, credit cards, SEPA, Zen, Easybank, Google Pay and Apple Pay.
4. Gate.io
Gate.io provides the most diverse collection of digital assets worldwide, with more than 2,100 tokens to trade, including stablecoins, meme coins, altcoins, DeFi tokens, dog coins, and NFT tokens. There are several trading options available, such as spot, futures and options markets with up to 100x leverage. It has a significant daily trading volume of over $8 billion and a user base of 14 million.
The platform enhances user engagement with unique features like trading bots, copy trading, and a demo account, offering Irish users diverse and exciting market opportunities. In addition to investing, Gate.io provides lending and borrowing services, an NFT marketplace, a crypto debit card, and staking options that allow users to earn up to 499% APY.
- Fees: Maker orders start at 0.1% and taker orders at 0.2%.
- Supported Assets: Supports 2,100 digital assets.
- Regulation & Licensing: Not directly licensed in Ireland but remains accessible to Irish users.
- EUR Deposit Methods: Bank transfers, debit cards, credit cards, PayPal, and more.
5. Bitpanda
Bitpanda is a popular European multi-asset investment platform overseen by the Federal Financial Supervisory Authority (BaFin). Based in Vienna, it provides an expansive range of services, including trading a selection of over 3,000 digital currencies, stocks, ETFs, fiat currencies, crypto indices and more. A key feature of the platform is its staking services, offering up to 34% APY.
Dedicated to regulatory adherence, Bitpanda facilitates Euro deposits from any bank within the Eurozone, offering a range of payment methods, including Sofort, Klarna, Apple Pay and more. Beyond cryptocurrency trading, it has its own cryptocurrency Visa card, which allows users to spend any of the supported digital assets on real life purchases like online shopping and groceries.
- Fees: Trading fee of 0.2%.
- Supported Assets: Over 3,000 cryptocurrencies, varied stocks, ETFs, fiat currencies, and precious metals.
- Regulation & Licensing: Complies with the Federal Financial Supervisory Authority (BaFin) and is available in Ireland.
- EUR Deposit Options: Bank transfer, iDEAL, debit cards, credit cards, Sofort, and PayPal.
Is Crypto Regulated in Ireland?
Ireland has established a regulatory framework for crypto by adopting the Markets in Crypto-Assets Regulation (MiCAR). This regulation introduces guidelines to safeguard consumers and maintain financial stability. MiCAR specifically targets issuers of stablecoins, including Asset-Referenced Tokens (ARTs) and E-Money Tokens (EMTs), by mandating authorisation from the Central Bank of Ireland (CBI) and requiring detailed disclosures in white papers.
Crypto-Asset Service Providers (CASPs) must also obtain authorisation and adhere to AML, prudential, and conduct requirements. The regulation addresses market abuse by prohibiting insider trading and other manipulative activities. MiCAR will be implemented in stages, starting in June 2024 for ARTs and EMTs and in December 2024 for utility tokens and CASPs, with a transitional period of up to 12 months for existing service providers.
How is Crypto Taxed in Ireland?
In Ireland, cryptocurrency taxation is managed by the Revenue Commissioners. Profits from crypto transactions are subject to Capital Gains Tax (CGT) at 33%. Businesses trading in cryptocurrencies pay Corporation Tax at 12.5%, and income from such activities is subject to Pay Related Social Insurance (PRSI) and Universal Social Charge (USC).
VAT is generally exempt from cryptocurrency transactions. Companies must keep detailed records of all crypto transactions for six years. Ireland offers tax incentives, such as a three-year corporate tax exemption for new companies and allowances for R&D expenses, making it an attractive location for crypto businesses.
How to Buy Bitcoin in Ireland
If you're new to cryptocurrency investment, understanding how to purchase Bitcoin through a digital asset exchange in Ireland is essential. Here is a straightforward guide:
- Create an Account: Visit the website of a reputable exchange and register for an account. Click on "Sign Up" and complete the verification process by uploading a photo ID and, if required, a selfie or proof of address.
- Deposit Euros (EUR): Go to the deposit section of your account, select EUR as your deposit currency, and enter the amount you wish to transfer. Confirm and complete the transaction using your preferred deposit method, such as a bank transfer or credit card.
- Choose Bitcoin: Search for Bitcoin (BTC) in the trading section. Select the EUR/BTC trading pair to see the current market rate. Review the available trading options, such as market and limit orders.
- Execute the Trade: Click 'buy' or 'trade' to purchase Bitcoin. Enter the amount of Bitcoin you want to buy or the amount of EUR you wish to spend. Review the order details, including price and fees, then finalise the trade.
This guide provides Irish users with a clear path to start trading digital assets, detailing each step from account creation to completing trades.
Bottom Line
In conclusion, Ireland's supportive regulatory environment, overseen by the Central Bank of Ireland, ensures a secure space for cryptocurrency trading. Our review of the top cryptocurrency exchanges in Ireland, eToro, Uphold, Bybit, Gate.io, and Bitpanda, provides the best options based on compliance, user experience, supported assets and fees. This guide helps Irish users confidently start trading digital currencies.
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