Best Crypto Exchanges in Italy
Discover Italy's top cryptocurrency exchanges for a safe and compliant way to buy crypto, adhering to OAM regulations and Italian tax laws.
Summary: Italy offers a secure setting for Bitcoin and other cryptocurrency investments, primarily through strict regulations enforced by the Organismo Agenti e Mediatori (OAM). This body ensures entities with a Virtual Asset Service Providers (VASP) license adhere to stringent consumer protection standards. Italian investors benefit from various funding options, including bank transfers and credit or debit card payments.
Through thorough examination and analysis, we have pinpointed the top five cryptocurrency exchanges in Italy, each providing distinct services catered to investors' diverse needs.
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Best Cryptocurrency Exchanges in Italy
In our comprehensive evaluation of over 20 platforms, our specialists selected the top five exchanges ideal for Italian investors. We rigorously scrutinized factors such as adherence to OAM regulations, variety in cryptocurrency offerings, user accessibility, Euro deposit options, and fair transaction fees. This review aims to present a dependable, concise guide to exchanges, aiding a knowledgeable and secure venture into Italy's cryptocurrency market.
1. eToro
In Italy, eToro sets the standard as the leading cryptocurrency trading platform, known for its reliability and wide range of financial instruments. It offers access to over 4,500 assets, from top cryptocurrencies like Bitcoin and Solana to key stocks such as Coinbase and Microstrategy, commodities, and standout ETFs, including the BlackRock Bitcoin ETF. This variety enables Italian investors to diversify their portfolios comprehensively within a single, secure, and tightly regulated environment.
eToro's regulatory compliance is notable in Italy. It operates under a Virtual Asset Service Providers License (VASP) from Italy's Organismo Agenti e Mediatori (OAM), underlining its commitment to strict regulatory standards. This focus on safety and regulatory adherence positions eToro as a secure trading choice for investors, with a global community of over 30 million users.
- Fees: eToro utilizes a variable spread fee model, typically around 1%.
- Supported Assets: eToro offers an extensive array of over 4,500 assets, including cryptocurrencies and conventional investments such as ETFs and stocks.
- Regulation & Licensing: With a VASP license from Italy's OAM, eToro meets the highest standards of regulatory compliance.
- Euro Deposit Methods: Italian traders can use SEPA, bank transfers, credit and debit cards, among other local payment options.
2. Bybit
Bybit claims its position as Italy's second-ranked cryptocurrency trading platform, renowned in the derivatives trading space. It is a versatile platform for new traders and institutional participants, blending over 1,000 digital assets with user-friendly functionalities. For Italian investors, Bybit streamlines EUR transactions through efficient, low-cost local deposit options, such as SEPA bank transfers, credit cards, PayPal and more.
Futures trading is Bybit's stronghold, offering up to 100x leverage and staking opportunities, allowing Italian investors to expand their investment scopes. Its fee structure is highly competitive, with a maker fee of only 0.01% and a taker fee of 0.06%. With robust security measures in place, Bybit has established a reputable status among Italian users for its dependable service and vast asset selection, attracting a global user base of over 10 million.
- Fees: Bybit stands out with its competitive maker fee of 0.01% and a taker fee of 0.06%.
- Supported Cryptocurrencies: Provides an extensive array of over 1,000 digital assets, appealing to diverse investment tastes.
- Regulation & Licensing: Complies with European and Italian regulatory standards, ensuring a secure and compliant trading environment.
- EUR Deposit Methods: Offers various deposit methods, including local bank transfers and debit/credit cards, for convenient and economical account funding for Italian users.
3. Uphold
Uphold stands out as the foremost platform for beginners in Italy, offering an extensive global presence combined with a user-friendly interface. Serving over 10 million users across more than 150 countries, Uphold appeals through its straightforward interface and a diverse array of over 250 digital assets. Its easy-to-use staking options, providing up to 25% APY on 30 cryptocurrencies, are particularly enticing for newcomers to crypto investing.
Uphold's 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. This feature, along with its accessible user experience on both web and mobile platforms, positions Uphold as a dependable and user-friendly exchange for beginners in Italy.
- Fees: Uphold employs a straightforward fee model with a 1% trading fee and a 1% spread fee.
- Supported Assets: Offers over 250 digital assets, as well as a variety of precious metals and fiat currencies.
- Regulation & Licensing: Regulated under EU standards and available in Italy, though not yet holding a VASP license from OAM.
- Euro Deposit Methods: Provides several deposit options, including bank transfers, SEPA, and credit/debit cards, making it easily accessible for Italian users.
4. Binance
In Italy, Binance holds the status of the fourth-best exchange, distinguished for its expansive ecosystem and a significant global user base of over 150 million. Binance offers a comprehensive suite of services, ranging from traditional spot and futures trading to Binance Earn, which enables users to gain returns on more than 180 cryptocurrencies. This feature is particularly appealing to Italian investors looking for portfolio diversification and passive income avenues.
Crucially, Binance 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: Binance charges a 0.1% fee for spot trading and 0.06% for derivatives, with spreads varying by asset.
- Supported Assets: Provides access to a diverse portfolio of over 350 cryptocurrencies.
- Regulation & Licensing: Fully licensed and regulated under Italy's OAM with a VASP license.
- Euro Deposit Methods: Supports a variety of deposit options, including local bank transfers, credit cards, Google Pay, Apple Pay and more.
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5. Young Platform
As an Italian-based crypto exchange, Young Platform has carved out its position as the fifth-best option in Italy. It's dedicated to delivering a secure, trustworthy trading experience suitable for both beginner and seasoned investors. With a range of Italian-friendly Euro deposit methods, Young Platform has gained substantial popularity among Italian crypto traders.
Beyond its main trading functionalities, Young Platform stands out for its educational initiative, Young Platform Academy, designed to enlighten both new and experienced crypto enthusiasts. 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 Young Platform's fees and spreads are comparatively higher than its peers.
- Fees: Offers free Euro deposits with a 1% fee for converting Euros to cryptocurrency.
- Supported Assets: Features over 35 cryptocurrencies.
- Regulation & Licensing: VASP Licensed by the OAM in Italy.
- Euro Deposit Methods: Includes Bank Transfer, Wire Transfer, SEPA, and Credit or Debit Card options.
Is Crypto Regulated in Italy?
In Italy, the regulation of crypto assets takes a distinct approach, reflecting the country's keen interest in this sector. Unlike some EU countries, Italy hasn't implemented specific domestic crypto regulations. Instead, it requires crypto-related firms, including exchanges and wallet services, to register with the Organismo Agenti e Mediatori (OAM) for Anti-Money Laundering (AML) purposes. This step aligns Italy with broader European standards while awaiting the implementation of the Markets in Crypto-Assets (MiCA) regulation.
The use, trading, and storage of cryptocurrencies in Italy are legal, though financial authorities like the Bank of Italy and CONSOB have issued advisories about the risks associated with these still-unregulated assets. These warnings point out potential risks to the banking system and investors but don't undermine the growing relevance of cryptocurrencies. They serve as cautionary reminders in the current regulatory framework.
Data protection is a significant aspect of crypto regulation in Italy. Crypto exchanges and wallet providers are subject to the EU General Data Protection Regulation (GDPR). They must adopt rigorous security measures, particularly to safeguard customers' private keys. Failure to protect these keys could result in the loss of cryptocurrencies, emphasizing the importance of strong security practices in the sector.
How is Crypto Taxed in Italy?
Cryptocurrency taxation is overseen by the Italian Revenue Agency, which categorizes cryptocurrencies similarly to foreign currencies. Individual investors face capital gains tax on crypto assets if their total financial assets abroad, including cryptocurrencies, exceed €51,645.69 for more than seven days in a fiscal year. If this threshold is crossed, gains are taxed at a rate of 26%. For assets below this limit, gains remain untaxed. This rule applies solely to private individuals; different tax norms govern businesses and professional traders.
For businesses and professional traders, any profits from cryptocurrency activities are considered business income and are taxed accordingly. There is no exemption threshold in these cases; all profits are subject to standard business income tax rules as stipulated by the Italian Revenue Agency. This ensures a comprehensive tax approach to cryptocurrency earnings within the business and professional trading.
Bottom Line
Italy's stringent OAM regulation ensures a secure cryptocurrency investment environment. Platforms like eToro, Bybit, Uphold, Binance, and Young Platform excel by offering tailored services to diverse investor needs. They emphasize regulatory compliance, a wide range of cryptocurrencies, easy access for users, multiple Euro deposit options, and competitive fees. These exchanges provide Italian investors with reliable, secure, and accessible trading experiences in the digital asset space, ensuring investor confidence through robust consumer protection measures.
