Best Crypto Exchanges in Italy

Best Cryptocurrency Exchanges in Italy

Our team has reviewed 31 cryptocurrency trading platforms in Italy to discover the best overall options for Italian investors. This evaluation considered regulatory compliance with the Organismo Agenti e Mediatori (OAM), user experience, EUR deposit methods, supported cryptocurrencies, fee structures, and platform features. Below is a comparison table showcasing the top 5 exchanges for Italian traders.

‍

1. eToro

eToro is one of the leading global cryptocurrency trading platforms, with over 30 million users across Italy and 150 other countries. Thanks to this widespread availability, the interface can be used in multiple languages, including Italian. It offers access to over 4,500 digital currencies, commodities, ETFs and stocks, allowing investors to diversify their portfolios comprehensively within a single, secure, and tightly regulated platform.

It operates under a Virtual Asset Service Providers License (VASP) from Italy's Organismo Agenti e Mediatori (OAM), showing its commitment to strict regulatory standards. This focus on safety and regulatory adherence positions eToro as a secure trading choice for investors. Users have access to a variety of features, including copy trading services, a demo account, an OTC desk, and more.

• Fees: eToro utilizes a variable spread fee model, typically around 1%.
• Supported Assets: Over 4,500 assets.
• Regulation & Licensing: eToro (Europe) Ltd is enrolled with the Organismo Agenti e Mediatori (OAM).‍
• EUR Deposit Methods: SEPA, bank transfers, and credit or debit cards.

‍

2. Bybit

Bybit is a cryptocurrency exchange with a focus on derivatives trading with leverage options up to 100x available on 180 futures contracts. There are over 1,100 digital currencies to buy, sell and trade across futures and spot markets. The platform provides deep liquidity and has over $23 billion in daily trading volume across both order books. It streamlines EUR transactions through local deposit options, such as SEPA bank transfers, credit cards, PayPal and more.

A key feature of Bybit is its transparent reserves, which are published regularly to show all assets are stored and held on a 1:1 basis. Additional features include several staking options, lending and borrowing services, copy trading, a practice account, a crypto debit card, trading bots, TradeGPT and more. Besides crypto, the exchange also provides access to NFTs through its inbuilt marketplace.

• Fees: Maker fee of 0.02% and a taker fee of 0.055% for futures.
• Supported Assets: Over 1,100 digital assets.
• Regulation & Licensing: Complies with European and Italian regulatory standards.‍
• EUR Deposit Methods: Bank transfers, Wise, Zen, Easybank, Apple Pay, Google Pay, and debit or credit cards.

‍

3. Uphold

Uphold has an extensive global presence combined with a simple platform tailored to beginners. Serving over 10 million users across more than 150 countries, it appeals through its straightforward interface available in Spanish and English, plus a diverse collection of over 250 digital assets. In addition to crypto, it supports 27 fiat currencies and major commodities, including Silver, Gold, Platinum and Palladium. 

Its commitment to transparency and trust is evident in its adherence to European regulatory norms, including those from CySEC and the FCA. It provides audited proof-of-reserves, assuring a 1:1 backing for all digital assets. Staking services are also available, allowing users to earn up to 26% APY on 30 cryptocurrencies. This feature, along with its accessible user experience on both web and mobile platforms, positions it as a great option for beginners.

• Fees: 1% trading fee and a 1% spread fee.
• Supported Assets: Over 250 digital assets, 27 fiat currencies and 4 precious metals.
• Regulation & Licensing: Regulated under EU standards but does not a VASP license from OAM.‍
• EUR Deposit Methods: Bank transfers, SEPA, and credit or debit cards.

‍

4. Binance

Binance is distinguished for its expansive ecosystem and a significant global user base of over 190 million. There are over 250 cryptocurrencies supported on spot, futures and options markets with up to 50x leverage. It offers a comprehensive suite of services, ranging from crypto loans to Binance Earn, which enables users to gain high returns on more than 180 cryptocurrencies. This feature appeals to Italian investors looking for passive income avenues.

It operates in full compliance with Italy's regulatory environment, being regulated under the Organismo Agenti e Mediatori (OAM) and holding a Virtual Asset Service Providers (VASP) license. Binance is recognized for offering the deepest liquidity in markets for perpetual contracts, crypto options, and other derivatives, making it a prime choice for investors seeking advanced trading opportunities.

• Fees: 0.1% fee for spot trading and a maker/taker rebate of 0.01%/0.06% for derivatives.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Fully licensed under Italy's OAM with a VASP license.‍
• EUR Deposit Methods: Local bank transfers, credit cards, Google Pay, Apple Pay and more.

‍

5. Young Platform

Young Platform is an Italian crypto exchange based in Turin dedicated to delivering a secure, trustworthy trading experience. The exchange provides multiple interfaces that are tailored to professionals and beginners, with Young Platform Pro offering zero fees and Young Platform Academy, aiming to help newcomers with helpful blogs and FAQs. This emphasis on education underlines its dedication to equipping users with essential insights to adeptly handle the complexities of the crypto markets. 

Despite its user-friendly interface and strong security measures, it's important to note that its fees and spreads are comparatively higher than its peers. There are 111 digital currencies to buy and trade, but the costs can be upwards of 3% when trading and deposit charges are considered.

• Fees: Fees vary between 2% - 4% depending on the trading method.
• Supported Assets: 111 cryptocurrencies.
• Regulation & Licensing: VASP Licensed by the OAM in Italy.‍
• EUR Deposit Methods: Bank transfer, wire transfer, SEPA, and credit or debit cards.

‍

Is Crypto Regulated in Italy?

‍Italy's approach to crypto regulation is unique and reflects its interest in this growing sector. Unlike some other EU nations, Italy hasn't rolled out specific crypto laws. Instead, it mandates that crypto firms, including exchanges and wallet services, register with the Organismo Agenti e Mediatori (OAM) for Anti-Money Laundering (AML) compliance. This ensures Italy aligns with broader European standards while waiting for the Markets in Crypto-Assets (MiCA) regulation to take effect.

Buying, trading, and storing cryptocurrencies in Italy is legal. However, authorities like the Bank of Italy and CONSOB have issued warnings about the risks of these unregulated assets. These advisories highlight potential dangers to the financial system and investors but do not diminish the importance of cryptocurrencies. They are cautionary notes in an evolving regulatory landscape.

Data protection plays a crucial role in Italy's crypto regulations. Exchanges and wallet providers must comply with the EU General Data Protection Regulation (GDPR). They are required to implement stringent security measures, especially to protect customers' private keys. Losing these keys can mean losing your cryptocurrencies, underscoring the need for strong security practices in the industry.

‍

How is Crypto Taxed in Italy?

In Italy, the Italian Revenue Agency handles the taxation of cryptocurrencies, treating them much like foreign currencies. For individual investors, if your total financial assets abroad, including crypto, surpass €51,645.69 for over seven days in a fiscal year, you'll owe a capital gains tax of 26% on any profits. If your assets stay below this threshold, your gains remain tax-free. This rule is specific to private individuals – businesses and professional traders follow different guidelines.

For businesses and professional traders, any gains from crypto activities are classified as business income and taxed accordingly. There’s no exemption threshold here; all profits are subject to standard business income tax rules as laid out by the Italian Revenue Agency. This comprehensive approach ensures that all cryptocurrency earnings, whether from personal investment or professional trading, are appropriately taxed in Italy.

‍

Bottom Line

In Italy, cryptocurrency trading continues to grow in popularity, supported by a regulated and secure environment. Whether you're a newcomer to digital assets or an experienced trader, platforms like eToro, Bybit, Uphold, Binance, and Young Platform offer varied features to suit your needs. Compliance with Italian financial laws and robust security measures ensure a safe trading experience.