Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Summary: Malta, known as the "Blockchain Island," hosts a dynamic cryptocurrency market, overseen by the Malta Financial Services Authority (MFSA). This ensures adherence to stringent regulatory standards and security. The Maltese exchanges facilitate transactions in Euros (EUR) through SEPA transfers, diverse card options, and advanced digital payment methods.
Our review focuses on the best overall Maltese cryptocurrency exchanges. These are notable for compliance with Malta's stringent regulations and reliability. Each is customized for Maltese investors, offering secure, efficient services aligned with local regulatory requirements.
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Best Cryptocurrency Exchanges in Malta
Following an extensive evaluation of over 20 platforms, we have pinpointed the top five exchanges ideally suited for Maltese investors. Our analysis focused on their compliance with Malta Financial Services Authority (MFSA) regulations, the range of cryptocurrencies available, ease of use, Euro (EUR) deposit options, and fee structures. This selection acts as a crucial guide for Maltese investors in choosing an exchange that aligns with their distinct cryptocurrency trading needs.
In Malta, eToro emerges as the best and most dynamic platform, offering access to over 4,500 financial instruments. This range encompasses sought-after cryptocurrencies such as Bitcoin and Ethereum, key stocks including Coinbase and Microstrategy, and innovative ETFs like the BlackRock Bitcoin ETF. This diversity enables Maltese investors to expand their portfolios through a single, highly regulated platform.
Regulated by premier European authorities, eToro is celebrated in Malta for its intuitive interface and streamlined deposit options in Euros (EUR). It accommodates investor convenience with various methods like bank transfers, online banking, and credit/debit cards. eToro, known for its policy of no initial commissions and attractive spreads, is an exemplary choice for investors aiming to broaden their investment horizons.
- Fees: eToro uses a variable spread fee model, typically around 1%.
- Supported Assets: eToro's portfolio spans over 4,500 assets, from cryptocurrencies to traditional investments like ETFs and stocks.
- Regulation & Licensing: Registered with top-tier regulators like the MFSA, AMF and CySEC in Europe.
- EUR Deposit Methods: Includes bank transfers, SEPA, debit cards, credit cards, and other payment services.
Bybit is Malta's leading exchange for derivatives trading, including futures and options. It caters to a broad range of investors, offering over 930 digital assets. This extensive selection establishes Bybit as a top platform for derivatives in Malta. Known for its secure and easy EUR deposit process, the platform features a user-friendly interface with advanced trading functionalities like crypto staking and lending.
Bybit's standout feature is its wide array of derivatives products, providing up to 25x leverage and significant liquidity. This positions Bybit as an all-in-one platform for sophisticated derivatives trading activities. With competitive fees, a 0.01% maker fee and a 0.06% taker fee, and serving a vast user base, Bybit is recognized as a secure and proficient exchange for Maltese investors interested in advanced derivatives trading.
- Fees: A 0.01% maker fee and 0.06% taker fee.
- Supported Cryptocurrencies: Offers a vast portfolio of over 930 digital assets.
- Regulation & Licensing: Adheres to CySEC regulations, suitable for European, including Maltese, traders.
- EUR Deposit Methods: Includes bank transfers, debit/credit cards, and digital wallets like Google Pay and Apple Pay.
As the third top choice, Kraken adeptly serves institutional and individual crypto investors in Malta. It boasts substantial quarterly trading volumes, exceeding $207 billion, and is increasingly favored across Europe, including Malta. Kraken offers trading and staking options for various cryptocurrencies such as Bitcoin, Ethereum, Solana, and various emerging tokens.
Maltese investors value Kraken's commitment to an exceptional user experience, as evidenced by its highly-rated mobile applications on the App Store and Google Play. The platform's staking features, offering up to 25% annual returns (APY), are especially appealing. Kraken Pro, aimed at professional and institutional investors, provides competitive benefits like narrow spreads, robust liquidity, and high deposit limits, further establishing Kraken's reputation as a reliable exchange.
- Fees: Maker fees set at 0.01% and Taker fees at 0.02%.
- Supported Assets: Includes over 250 spot markets and over 100 margin trading options.
- Regulation & Licensing: Adheres to top-tier European financial regulations, facilitating EUR banking in Malta.
- EUR Deposit Methods: Offers SEPA Transfers, SWIFT, Bank Transfers, Credit and Debit Cards, and more.
Earning the fourth spot for cryptocurrency enthusiasts in Malta, Uphold is a globally recognized platform operating in over 150 countries with over 10 million users. It offers an impressive array of over 250 digital assets, positioning itself as a strong alternative to eToro. A notable feature of Uphold is its straightforward staking options, allowing investors to earn up to 25% APY on a diverse selection of up to 30 cryptocurrencies.
Uphold excels in transparency and trust, adhering to top global financial regulations and European standards, including Malta's financial oversight. It provides audited proof-of-reserves, ensuring each digital asset is fully backed, highlighting its transparency and reliability for crypto investments. Uphold delivers a consistent and user-friendly experience whether accessed via the web, iOS, or Android.
- Fees: Uphold applies a 1% trading fee, plus a 1% spread fee.
- Supported Assets: Features over 250 digital assets, four precious metals, and 27 fiat currencies.
- Regulation & Licensing: Fully compliant with European regulations, registered in the Republic of Lithuania.
- EUR Deposit Methods: Includes options like bank transfers, SEPA, Google Pay, Apple Pay, and credit/debit cards.
Gate.io secures the fifth position as a leading cryptocurrency exchange in Malta, notable for its extensive altcoin range. This platform is distinguished by its remarkable selection of over 1,700 cryptocurrencies, making it a top pick for those interested in a broad spectrum of digital assets. In Malta's crypto market, Gate.io is attractive for its low fees, starting at just 0.1% for spot trades.
Boasting a significant 24-hour trading volume exceeding $5 billion and a user base of more than 14 million, Gate.io asserts its strong global standing in the cryptocurrency world. The platform enhances the user experience with distinctive features like trading bots and a specialized startup section, offering Maltese users various exciting market opportunities. This includes unique trading events and competitions tailored to their market interests.
- Fees: Gate.io offers competitive fees, with maker orders starting at 0.1% and taker orders at 0.2%.
- Supported Cryptocurrencies: Boasts a vast collection of over 1,700 digital assets.
- Regulation & Licensing: Based offshore in the Seychelles, it’s not directly licensed in Malta but remains accessible to Maltese users.
- EUR Deposit Methods: Includes local bank transfers, debit cards, credit cards, PayPal, and more.
Is Crypto Regulated in Malta?
In Malta, regulating cryptocurrencies is part of a comprehensive legal framework, distinguishing the country as a leader in this field. The Malta Financial Services Authority (MFSA) is crucial in overseeing the cryptocurrency sector, ensuring that exchanges and related businesses comply with the necessary regulations. This regulatory oversight is a key component of Malta's strategy to establish a secure and legally compliant environment for its growing cryptocurrency industry.
The country's forward-thinking legislation, notably the Virtual Financial Assets Act (VFAA) enacted in 2018, has been instrumental in setting clear guidelines for cryptocurrencies and blockchain technologies. This act, along with the Innovative Technology Arrangements and Services Act (ITAS) and the Malta Digital Innovation Authority Act (MDIA), has been pivotal in protecting investors and providing legal clarity for the use of digital assets.
As a result, Malta has gained recognition as a global hub for blockchain and crypto innovation, attracting numerous companies and investments in this sector.
Is Crypto Taxed in Malta?
In Malta, businesses involved in distributed ledger technology (DLT) adhere to the standard tax framework applicable to all enterprises. This includes Corporate Income Tax (CIT) at 35%, Value Added Tax (VAT) at 18%, Stamp Duty (SD), and Social Security Contributions (SSC). The Commissioner for Revenue (CFR) administers these taxes and provides specific guidelines for DLT activities. DLT assets, categorized as coins, financial tokens, or utility tokens, are taxed based on their use and market value.
For capital gains, the tax treatment of DLT assets depends on their classification. Gains from the transfer of security tokens (financial tokens akin to equities or derivatives) are subject to capital gains tax. However, coins and utility tokens, used primarily as payment mediums or for services within DLT platforms, are not listed as capital assets and thus exempt from capital gains tax. VAT applications vary based on the type of DLT asset, following the VAT Act and EU directives.
In summary, Malta has established itself as a leading "Blockchain Island," providing a secure and regulated environment for cryptocurrency exchanges and investors. The presence of esteemed platforms like eToro, Bybit, Kraken, Uphold, and Gate.io caters to a broad spectrum of trading preferences, reinforcing Malta's appeal in the global crypto market.
Under the vigilant oversight of the MFSA and adherence to clear taxation guidelines by the Commissioner for Revenue, Malta offers a reliable and progressive ecosystem for both seasoned traders and new entrants in the world of cryptocurrency.