Best Crypto Exchanges in Malta

Best Cryptocurrency Exchanges in Malta

Following an extensive evaluation of the 21 digital asset trading platforms available in Malta, we found the top options for residents. Our analysis focused on their compliance with Malta Financial Services Authority (MFSA) regulations, supported cryptocurrencies, Euro deposit options, features and services, and fee structures. Here is a detailed comparison table of the top five exchanges for Maltese investors.

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1. eToro

eToro is the best investment platform in Malta, offering access to over 4,500 financial instruments. This selection includes cryptocurrencies such as Bitcoin and Ethereum, plus traditional assets like stocks, commodities and ETFs. It has over 30 million registered customers across Malta and 150 other countries, and the interface can be used in Maltese. 

Regulated by the MFSA, it has a registered office in Mosta, Malta. One of the key offerings is the copy trading feature, which allows users to automatically replicate the trades of successful eToro investors. Known for its policy of no initial commissions and attractive spreads, it is an exemplary choice for investors aiming to broaden their investment horizons.

• Fees: Variable spread fee model of around 1%.
• Supported Assets: Over 4,500 cryptocurrencies, stocks, ETFs and commodities.
• Regulation & Licensing: eToro Money Malta Ltd is regulated by the MFSA under Company No. C97952.‍
• EUR Deposit Methods: Bank transfers, SEPA, debit cards, credit cards, and PayPal.

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2. Bybit

Bybit is the leading exchange for derivatives trading, supporting futures and options markets with leverage of up to 100x. Its 32 million user base trades over $25 billion a day, making Bybit one of the most liquid platforms in the world. In addition to trading, it provides lending and borrowing options, a staking feature, copy trading services, an NFT marketplace and a crypto card.

It is a secure and transparent exchange for investors as it regularly publishes its 1:1 proof-of-reserves, giving users peace of mind their funds are fully backed. Due to its widespread accessibility, it provides a multilingual interface available in Maltese, English and 30 other languages. There is also live local customer support through live chat and email.

• Fees: A 0.02% maker fee and 0.055% taker fee.
• Supported Assets: Over 1,200 digital assets.
• Regulation & Licensing: Adheres to CySEC regulations and is available in Malta.‍
• EUR Deposit Methods: Bank transfers, debit cards, credit cards, Zen, SEPA, and digital wallets like Google Pay and Apple Pay.

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3. Kraken

Kraken is an American exchange serving over 10 million institutional and individual crypto investors in Malta. It has substantial quarterly trading volumes exceeding $207 billion and is regulated across Europe. It offers over 250 digital assets to trade and stake, allowing users to earn up to 25% annual returns (APY) on 30 cryptocurrencies.

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 Store. The platform's advanced trading interface, Kraken Pro, aimed at professional traders, provides competitive benefits like narrow spreads, robust liquidity, and high deposit limits.

• Fees: Maker fees set at 0.01% and taker fees at 0.02%.
• Supported Assets: 250 spot markets and over 100 margin trading options.
• Regulation & Licensing: Registered as a VASP in Europe and available to Maltese investors.‍
• EUR Deposit Methods: SEPA Transfers, SWIFT, bank transfers, credit and debit cards.

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4. Uphold

Uphold is an investment platform with over 10 million users operating in Malta and 150 other countries. It offers an impressive collection of over 250 digital assets, plus 27 fiat currencies and 4 commodities. An attractive feature of Uphold is its straightforward staking options, allowing investors to earn up to 14% APY on a diverse selection of 19 cryptocurrencies.

It excels in transparency and trust, adhering to top global financial regulations and European standards. The exchange provides transparent proof-of-reserves by undergoing regular external audits, ensuring each digital asset is fully backed. Uphold delivers a consistent and user-friendly experience whether accessed via the web, or iOS and Android mobile devices.

• Fees: 1% - 2% trading fee, plus a 1% spread fee.
• Supported Assets: Over 250 digital assets, 4 precious metals, and 27 fiat currencies.
• Regulation & Licensing: Compliant with Maltese regulations, registered in the Republic of Lithuania.‍
• EUR Deposit Methods: Bank transfers, SEPA, Google Pay, Apple Pay, credit cards, and debit cards.

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5. Gate.io

Gate.io is an exchange known for its diverse selection of over 2,100 cryptocurrencies, making it a top pick for those interested in a broad collection of tokens. Founded in 2013, it has amassed over 16 million registered customers across 190 countries and provides live customer support in 35 languages, including Maltese. Multiple trading types, such as spot and futures, are supported.

The platform enhances the user experience with distinctive features like trading bots, copy trading services, and leverage options up to 50x, offering Maltese users various exciting market opportunities. In addition to crypto, users can purchase NFTs through its in-built marketplace supporting popular projects like Mutant Bored Apes and Crypto Punks.

• Fees: Maker orders starting at 0.1% and taker orders at 0.2%.
• Supported Assets: More than 2,100 digital assets.
• Regulation & Licensing: Not directly licensed in Malta but remains accessible to Maltese users.‍
• EUR Deposit Methods: Bank transfers, debit cards, credit cards, PayPal, and more.

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Is Crypto Regulated in Malta?

Malta, known as "Blockchain Island," has a robust regulatory framework for cryptocurrency managed by the Malta Financial Services Authority (MFSA), which ensures exchanges comply with the necessary regulations. The Virtual Financial Assets Act (VFAA), introduced in 2018, ensures that only reputable and compliant service providers operate in Malta. 

This framework aligns with the upcoming EU Markets in Crypto-Assets (MiCA) regulation. The MFSA has authorized 15 out of 32 license applications and conducts regular supervision and enforcement. Collaborating with national and international bodies, the MFSA also runs consumer outreach campaigns to educate the public on crypto investments.

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How is Crypto Taxed in Malta?

In Malta, businesses dealing with distributed ledger technology (DLT) follow the standard tax rules applied to all companies. This includes a Corporate Income Tax (CIT) rate of 35%, Value Added Tax (VAT) at 18%, Stamp Duty, and Social Security Contributions. The Commissioner for Revenue (CFR) oversees these taxes and offers specific guidelines for DLT activities. DLT assets, such as coins, financial tokens, or utility tokens, are taxed based on their use and market value.

Capital gains tax applies to the transfer of security tokens, which are similar to equities or derivatives. However, coins and utility tokens used mainly for payments or services within DLT platforms are not considered capital assets and are exempt from capital gains tax. VAT rules vary depending on the type of DLT asset, aligning with the VAT Act and EU directives.

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How to Buy Bitcoin in Malta

If you're new to cryptocurrency investment, understanding how to purchase Bitcoin through a digital asset exchange in Malta is essential. Below is a summary of the investing process:

1. Create an Account: Visit the website of a reputable exchange and register for an account. Click on "Sign Up" and complete the verification process by uploading a photo ID and, if required, a selfie or proof of address.
2. Deposit Euros (EUR): Go to the deposit section of your account, select EUR as your deposit currency, and enter the amount you wish to transfer. Confirm and complete the transaction using your preferred deposit method, such as a bank transfer or credit card.
3. Choose Bitcoin: Search for Bitcoin (BTC) in the trading section. Select the EUR/BTC trading pair to see the current market rate. Review the available trading options, such as market and limit orders.
4. Execute the Trade: Click 'buy' or 'trade' to purchase Bitcoin. Enter the amount of Bitcoin you want to buy or the amount of EUR you wish to spend. Review the order details, including price and fees, then finalize the trade.

This guide provides users in Malta with a clear path to start trading digital assets, detailing each step from account creation to completing trades.

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Bottom Line

In conclusion, Malta offers a secure and transparent regulatory environment for cryptocurrency exchanges overseen by the Malta Financial Services Authority (MFSA). This ensures investor protection and a thriving ecosystem for crypto businesses. Our evaluation highlights the top exchanges in Malta, eToro, Bybit, Kraken, Uphold, and Gate.io, each compliant with MFSA regulations and offering diverse features for investors.