Is it Legal to Buy Crypto in Italy?

At the moment, it is 100% legal to buy cryptocurrencies in Italy. There are currently no restrictions or regulations in place regarding the use of digital currencies in the country. Despite this regulatory freedom, it is important to note that crypto exchanges are still subject to standard anti-money laundering (AML) and know your customer (KYC) requirements.

As such, Italian residents must ensure that they comply with these requirements when buying and using digital currencies. While there are some risks associated with buying crypto in Italy, such as market volatility and potential theft or fraud, overall it can be a safe and secure way for individuals to participate in the growing global digital currency ecosystem.

One important thing to keep in mind when purchasing or trading cryptocurrencies in Italy is that you must use a reputable exchange or platform that is regulated by national authorities. This will help ensure that your funds are protected from potential scams or hacks, and that you comply with any relevant legal requirements related to cryptocurrency trading.

Top Crypto Trading Platforms for Italians

Italy saw a massive growth in cryptocurrency investing, with a 25% increase in 2022. This is mainly due to the Euros (EUR) losing value and Italian investors wanting to diversify their portfolios. Below we have provided a high-level overview of the five Best Crypto Exchanges in Italy to help Italian investors find the best digital-asset investing platform for them.

1. Uphold - Best Overall Exchange in Italy

Uphold is a popular multi-asset investing platform that was founded in 2014 by Halsey Minor and JP Thieriot. It is one of the most secure exchanges available, with advanced encryption and security features to protect user data and funds. Uphold is one of the few digital-asset platforms in the world that provide audited proof-of-reserves that shows customer funds are always backed 1:1.

  • Fees: Free deposits on all methods except card, which is subject to a 2.49% fee. Crypto trading fees vary between 0.8% - 1.2%.
  • Supported Assets: 210 cryptocurrencies, 40 shares, 4 precious metals and 27 fiat currencies.
  • Regulation & Licensing: Regulated and Licensed in Europe.
  • Customer Support Options: 24/7 support via live chat and email.
  • EUR Deposit Methods: Bank Transfer, Credit/Debit Card, SEPA, Google Pay & Apple Pay.
Uphold Exchange.

If you would like to learn more about this exchange, you can visit our detailed Uphold Review.

2. Bybit - Best Alternative Crypto Exchange

Bybit is a non-KYC cryptocurrency exchange that was founded in 2018 by Daniel Wang and Ben Zhou. It is one of the only platforms that doesn't require KYC (identity verification) to deposit, withdraw or make trades. Additionally, Bybit has over 10 million registered users worldwide. It is available in a number of countries, including Italy, and the platform can be used in Italian.

  • Fees: Deposits and withdrawals are free and there are 0.1% fees on spot markets and the maker/taker rebate is 0.01%/0.06%.
  • Supported Assets: 400+ cryptocurrencies.
  • Regulation & Licensing: Not regulated by any government authority (hence no KYC requirements).
  • Customer Support Options: 24/7 support via live chat, email, ticketing system & phone.
  • EUR Deposit Methods: Wise, Credit Card, Debit Card, SEPA, Paysera, Bank Transfer, Revolut, iDEAL, Maestro & Google Pay.
Bybit Exchange.

If you would like to learn more about this exchange, you can visit our detailed Bybit Review.

3. Binance - Best Global Crypto Exchange

Binance is the largest global cryptocurrency exchange that was founded in 2017 by Changpeng Zhao (or CZ). This exchange is known for its high level of security and has become one of the most widely used exchanges in the world, with over 120 million users. It offers users a wide variety of features, including advanced trading tools and charts, and secure backups of funds to ensure maximum protection of user funds.

  • Fees: Deposit & withdrawal fees vary depending on your method and are between 0.5% - 1.8%. Spot trading is 0.1% and the derivatives maker/taker rebate is 0.02%/0.04%.
  • Supported Assets: 350+ cryptocurrencies.
  • Regulation & Licensing: Regulated by the CySEC.
  • Customer Support Options: 24/7 support via live chat, email & online ticketing system.
  • EUR Deposit Methods: Advcash, Etana, Bank Transfer, SEPA & Credit/Debit Card.
Binance Exchange.

If you would like to learn more about this exchange, you can visit our detailed Binance Review.

4. Young Platform - Best Italian Crypto Exchange

Young Platform is an Italian crypto exchange that offers a wide range of services to investors. At its core, it's committed to providing users with a safe, secure, and reliable trading experience that meets the needs of both novices and experienced traders alike. With many supported Italian deposit methods for Euros, Young Platform has quickly become one of the most popular exchanges in Italy.

  • Fees: Deposits are free except for card deposits which are 2.2% + €0.25. Withdrawals are subject to a €1.99 fee. Trading fees vary depending on your assets, Euro > Crypto = 2.5%, Crypto > Euro = 2.5%, Crypto > Crypto = 1.35%, Euro > Young (YNG) = 1% & Young (YNG) > Euro = 1%.
  • Supported Assets: 35+ cryptocurrencies.
  • Regulation & Licensing: Not regulated in Italy or Europe.
  • Customer Support Options: Support via email.
  • EUR Deposit Methods: Bank Transfer, Wire Transfer, SEPA, Credit Card or Debit Card.
Young Platform Crypto Exchange.
Young Platform Crypto Exchange.

5. Crypto.com - Best Crypto Exchange for Retail

Crypto.com is a cryptocurrency exchange that was founded in 2016 by serial entrepreneur, Ken Moore and his team of experienced tech and finance professionals. This platform is one of the most popular exchanges among retail investors, with more than 70 million users worldwide in over 180 different countries. It has many major partnerships with large brands such as the UFC, Formula 1 and the AFL.

  • Fees: Deposit & withdrawal fees are free except for card deposits which are 3%. Spot trading is 1% and the derivatives maker/taker rebate is 0.017%/0.034%.
  • Supported Assets: 250+ cryptocurrencies.
  • Regulation & Licensing: Regulated by the CySEC.
  • Customer Support Options: 24/7 support via live chat, email & online ticketing system.
  • EUR Deposit Methods: SEPA & Credit/Debit Card.
Crypto.com Exchange.
Crypto.com Exchange.

Italy's Stance on Cryptocurrencies

Italy is one of the leading countries when it comes to cryptocurrency policy and regulation. The country has been proactive in implementing policies that promote the growth of the cryptocurrency industry, while also ensuring that investors are protected from potential risks and scams.

One of the key elements of Italy's stance on crypto is its regulatory framework, which was introduced in 2018 by the Italian Ministry of Economic Development. This framework includes provisions for both cryptocurrency exchanges and ICOs, outlining clear guidelines on reporting requirements, licensing processes, and other important aspects of these emerging industries.

In addition to regulatory oversight, another important aspect of Italy's cryptocurrency policies is its focus on consumer protection. The government has taken steps to educate investors about potential risks associated with cryptocurrencies, as well as providing guidance on how to identify and report potential scams.

Italy's stance on digital assets is seen as one of the most progressive and forward-thinking in the world, demonstrating its commitment to fostering innovation within the industry while also protecting investors from potential risks.

Conclusion

Uphold is the best cryptocurrency exchange for investors in Italy, offering a secure, reliable platform with excellent features and tools for trading and managing your digital assets. With an intuitive interface, competitively low fees, and 24/7 customer support in Italian, Uphold makes investing in crypto easy and hassle-free.

Additionally, it is one of the most feature rich platforms in Italy with over 20 crypto staking options, investment opportunities in stocks, commodities and currencies, plus a crypto VISA card where you can spend all your tokens on real-life purchases like groceries or rent.