Best Crypto Exchanges in Lithuania
Navigate Lithuania's crypto space with our comprehensive guide. Explore regulations, top platforms, legalities, and tax implications.
Summary: In Lithuania, getting involved in Bitcoin and other cryptocurrencies necessitates using a platform that abides by the regulatory rules laid out by the Bank of Lithuania. These approved exchanges enable investors to deposit Euros (EUR) through domestic bank transfers, SEPA payments, debit cards, credit cards, and other prevalent payment methods.
For those in Lithuania wanting to embark on their cryptocurrency journey, we have assessed the top 5 trading platforms available to residents. These exchanges are renowned as the most reliable and regulation compliant options in the market:
Top Trading Platforms in Lithuania
Our comprehensive study of more than 15 notable cryptocurrency platforms has enabled us to pinpoint the foremost exchanges for Lithuanian investors. Our methodology considers several crucial aspects such as Bank of Lithuania or European Securities and Markets Authority (ESMA) regulation and licensing, the diversity of supported assets, the user experience, EUR deposit methods, fees, and other factors to precisely rank these platforms.
1. eToro
eToro is the leading crypto platform in Lithuania, offering a wide variety of over 3,000 assets, including cryptocurrencies, stocks, commodities, currencies, indices, and ETFs. Unique features like Social Trading, Virtual Accounts, and up to 10x leverage distinguishes eToro from competitors. The platform is also known for its competitive fees and tight spreads on assets.
Regulated by the European Securities and Markets Authority (ESMA) and the Bank of Lithuania, eToro has earned the trust of more than 30 million users across Europe, including Lithuanian investors. With its user-friendly interface and accessible EUR deposit methods such as SEPA transfers, online banking, and debit cards, eToro solidifies its position as a top investment platform in Lithuania.
- Fees: 1% fee charges in the spread. Euro (EUR) deposits via Bank Transfer are free of charge.
- Supported Cryptos: 60+ cryptos and 6,000 stocks, ETFs, commodities and other asset classes. No crypto staking featured offers.
- Regulation & Licensing: Regulated and Licensed in Europe & Lithuania by the European Securities and Markets Authority (ESMA).
- Customer Support Options: 24/7 support via live chat, email and phone.
- EUR Deposit Methods: Bank Transfer, SEPA, Credit/Debit Card, Klarna, Sofort, Neteller & more.
2. Uphold
Uphold is one of the most popular cryptocurrency exchange platform in Lithuania and Europe, with more than 10 million users. This European-based exchange offers traders access to over 250 digital currencies with extremely low fees (0% and 0.5% spreads). Uphold is licensed and regulated in the European Union, making it safe and secure for users in Lithuania to trade on their platform.
The exchange supports both fiat-to-crypto (EUR) and crypto-to-crypto trades, so investors can easily convert their existing portfolio of digital currencies into Euro or trade one crypto asset for another. Uphold also offers extensive crypto staking features, stocks, metals and much more.
- Fees: Free Euro (EUR) Deposits via Bank Transfer (SEPA) and 0% trading fees. Spreads average at around 0.5% depending on the token (industry-leading spreads).
- Supported Cryptos: 250+ cryptos and 30+ coins to stake to earn interest.
- Regulation & Licensing: Regulated and Licensed in Europe & Lithuania with audited proof-of-reserves.
- Customer Support Options: 24/7 support via live chat and email.
- EUR Deposit Methods: Bank Transfer, Credit/Debit Card, SEPA, Google Pay & Apple Pay.
3. OKX
OKX is a popular alternative platform that is based on Seychelles, which offers over 300 cryptocurrencies and advanced features like futures, derivatives and options. This exchange offers traders a variety of order types, including limit orders and market orders, so you can customize your trading strategy - making it suitable for sophisticated investors.
OKX also supports Euro (EUR) deposits via bank transfer or SEPA. They offer competitive fees with 0% maker fees and 0.1% taker fees - one of the lowest found on any crypto exchange.
- Fees: 0% maker fees, 0.2% taker fees and variable spreads. SEPA Deposits are free and credit/debit card deposits incur a 2.49% fee.
- Supported Cryptos: 300+ cryptos and margin trading for advanced investors.
- Regulation & Licensing: Licensed in Seychelles & Lithuania.
- Customer Support Options: 24/7 support via live chat and email.
- EUR Deposit Methods: Bank Transfer, SEPA & Credit/Debit Card, PayPal, Paysafe, Wise Transfer & more.
4. Bybit
Bybit is a great exchange for investors who want to trade derivatives like options, futures and perpetual contracts with up to 100x leverage on 400+ crypto assets. Their platform is widely regarded for its deep liquidity across a variety of pairs, making them a great venue for high-net worth investors looking to get fills on large orders for spot and derivatives markets.
In addition to its derivatives offerings, Bybit offers traders low trading fees (0% maker fees, 0.06% taker fees), 24/7 customer service and an intuitive user interface that makes the experience of using their platform enjoyable for even the most novice investor.
- Fees: 0% maker fees, 0.06% taker fees and variable spreads.
- Supported Cryptos: 400+ cryptos & 50+ staking pairs.
- Regulation & Licensing: Licensed in the British Virgin Islands (no license in Lithuania).
- Customer Support Options: 24/7 support via live chat, discord, telegram and email.
- EUR Deposit Methods: SEPA, Bank Transfer & Credit/Debit Card (Visa & MasterCard).
5. Bitpanda
Bitpanda is an Austria-based multi-asset trading platform that provides an easy-to-use experience and offers some of the lowest fees in the industry. It is an ideal choice for beginners, as it has a user-friendly interface that makes trading very simple on their Mobile & Web apps. The platform supports over 250 cryptos with low fees, 24/7 customer support and fast deposits via bank transfer or credit/debit card.
- Fees: Bank Transfers are free (EUR) and trading fees are 0.2%.
- Supported Cryptos: 200+ crypto assets and 100+ stocks, ETFs & metals.
- Regulation & Licensing: Regulated by the Financial Market Authority (FMA) of Austria and available in Lithuania.
- Customer Support Options: 24/7 customer support via live chat, email and social media.
- EUR Deposit Methods: Bank transfer, iDEAL, Debit/Credit Card, NETELLER, Bank Wire and PayPal.
Is Crypto Investing Legal in Lithuania?
Yes, buying and selling cryptocurrency in Lithuania is indeed legal. There are no specific laws that prohibit individuals from purchasing and trading cryptocurrency in the country. However, it's important to note that cryptocurrencies are not recognized as legal tender in Lithuania, and there are some regulatory implications to bear in mind when dealing with them.
The Bank of Lithuania has issued guidelines concerning the use of cryptocurrency in the country, emphasizing that it is not regulated by the central bank and individuals should be cognizant of the risks involved in its use. Specifically, the Bank of Lithuania has cautioned about the potential risks of fraud and money laundering related to cryptocurrency.
Is Crypto Taxed in Lithuania?
Yes, cryptocurrency is taxed in Lithuania. According to the Lithuanian government, cryptocurrency transactions are subject to capital gains tax and value-added tax (VAT). Capital gains tax is applied to profits made from selling or exchanging cryptocurrency, while VAT is applied to the purchase and sale of goods and services using cryptocurrency. It's always best to check with the local tax authorities for the most up-to-date information and to seek professional tax advice.
The Bottom Line
In conclusion, for Lithuanians eager to enter the cryptocurrency realm, platforms such as eToro, Uphold, OKX, Bybit, and Bitpanda offer a diverse range of services, including extensive digital asset portfolios, competitive fees, and user-friendly experiences. While cryptocurrency investing is legal in Lithuania, caution is urged due to potential risks of fraud and money laundering.
Taxes apply to crypto transactions, underscoring the importance of seeking professional tax advice. As always, aligning with platforms that comply with local regulations provides a safer investment environment, enabling you to explore the vast potential of cryptocurrency.
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