Best Crypto Exchanges in Poland

Best Cryptocurrency Exchanges in Poland

After thoroughly evaluating the 21 cryptocurrency platforms available in Poland, we've discovered the top five options. We considered essential factors such as compliance with the Polish Financial Supervision Authority (KNF) regulations, the range of supported assets, overall user experience, PLN deposit options, and fee structure. Below is a comparison table of the 5 best exchanges for Polish traders.

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1. eToro

eToro is the leading multi-asset trading platform in Poland, providing access to a diverse range of more than 4,500 financial assets. Users can trade top cryptocurrencies like Bitcoin, alongside stocks, commodities, and ETFs, all within a single interface. With the ability to deposit PLN through several local payment methods like Przelewy24, it offers convenience and accessibility.

What sets it apart is its strict adherence to regulations, proudly registered with top financial markets authorities in Poland. Known for its unique features, especially the copy trading service that allows users to replicate the trades of successful traders. With a thriving community of over 30 million users worldwide, eToro is a trustworthy platform with a wealth of financial opportunities.

• Fees: A spread fee of around 1% for cryptocurrency.
• Supported Assets: More than 4,500 digital assets, stocks, commodities and ETFs.
• Regulation & Licensing: eToro (Europe) Ltd is regulated by the Cyprus Securities Exchange Commission (CySEC) under licence number 109/10 and is available in Poland.‍
• PLN Deposit Methods: Bank transfer, debit cards, credit cards and Przelewy24.

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2. Bybit

Bybit is recognized as the top platform for derivatives trading in Poland. It has over 1,200 digital assets to trade on spot, futures and options markets with up to 100x leverage. The exchange’s high liquidity, competitive fees, and multilingual customer support that is available in Polish make it a standout choice for local investors and traders looking to engage in perpetual contracts. 

The platform also provides insurance funds to protect traders from unforeseen losses. In addition, Bybit undergoes regular auditing to show all users' funds are held on a 1:1 basis and always accessible. There are also staking, lending and borrowing services available for users to earn yields on idle assets, plus an NFT marketplace, a crypto debit card, copy trading and TradeGPT.

• Fees: Maker fee of 0.02% and taker fee of 0.055% for futures and 0.1% for spot trading.
• Supported Assets: More than 1,200 digital currencies.
• Regulation & Licensing: Regulated by CySEC and available in Poland.‍
• PLN Deposit Methods: Bank transfers, credit cards, debit cards, Blik, Apple Pay, Google Pay, SEPA, Samsung Pay and Zen.

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3. Gate.io 

Gate.io is a leading cryptocurrency exchange with a daily trading volume exceeding $8 billion across both order books. It serves over 16 million users across Poland and 190 other countries. Known for its extensive selection of digital assets, it supports over 2,100 tokens for spot, derivatives and options trading with up to 100x leverage, making it a go-to destination for those seeking variety. 

It has a user-friendly interface that can be used in Polish and is equipped with advanced security measures, including two-factor authentication and cold storage for assets. The exchange also provides a range of educational tools and market analysis resources to help traders make informed decisions. It also provides staking options and crypto loans.

• Fees: 0.1% for maker orders and 0.2% for taker orders.
• Supported Assets: More than 2,100 digital assets.
• Regulation & Licensing: Not directly licensed in Poland but remains accessible to Polish users.‍
• PLN Deposit Methods: Bank transfers and debit or credit cards.

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4. Binance

Binance is acclaimed for its extensive ecosystem and an impressive global user base of over 190 million. Binance's range extends beyond standard spot and futures trading to include Binance Earn, which enables users to yield returns on more than 180 cryptocurrencies. This feature particularly attracts Polish investors aiming to diversify their portfolios and generate passive income.

The Polish Tax Administration Chamber of Poland in Katowice has granted Binance Virtual Asset Service Provider (VASP) registration (registration number RDWW—465). Despite facing regulatory challenges in some regions, Binance's direct licensing by the local authority strengthens its position in the Polish market. 

• Fees: 0.1% fee for spot trading and 0.06% for derivatives.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Registered with the Polish Tax Administration Chamber.‍
• PLN Deposit Methods: Bank transfers, credit cards and debit cards.

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5. KuCoin

KuCoin is a popular exchange in Poland, particularly known for its excellent staking options and unique altcoin offerings. The platform supports a wide range of 700 cryptocurrencies and offers various services, including spot trading, futures trading, and lending. The staking program allows users to earn rewards on their crypto holdings by participating in staking pools with up to 80% APY.

With a daily trading volume of over $2 billion and a userbase surpassing 30 million, KuCoin is one of the most popular exchanges in the world. It is also known for its user-friendly interface and robust security features, including multi-factor authentication and asset insurance. Users can also take advantage of its network, KCC Chain and native token, KCS to access the Web3 world.

• Fees: 0.1% for spot trading and 0.02%/0.06% maker/taker rebate for derivatives.
• Supported Assets: Over 700 cryptocurrencies.
• Regulation & Licensing: Although not directly regulated in Poland, KuCoin is widely accessible and used by Polish investors.‍
• PLN Deposit Methods: Bank transfers, digital wallets, and debit or credit card transactions.

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Is Crypto Regulated in Poland?

Yes, since October 31, 2021, virtual currency activities have been subject to regulation, introducing certain obligations for those participating in the market. The Polish Financial Supervision Authority (KNF) plays a vital role in overseeing the country's crypto market. The KNF ensures that digital asset exchanges and related services comply with strict regulatory standards, including anti-money laundering (AML) measures and proper licensing.

Polish crypto regulation integrates with existing financial laws and operates under several frameworks. The primary focus is on AML compliance, ensuring that exchanges implement robust KYC (Know Your Customer) procedures to prevent illicit activities. The legality of cryptocurrency activities is also supported at the European Union level, as per the 2015 ruling of the Court of Justice of the European Union.

Entities operating in the digital currency sector in Poland are subject to specific regulations. They must fulfill obligations relating to the types of crypto services they provide. Compliance with these regulations is crucial for legal operations within the country. The framework also includes post-registration responsibilities focused on anti-money laundering and combating the financing of terrorism.

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How is Crypto Taxed in Poland?

In Poland, cryptocurrency transactions are subject to taxation, overseen by the Ministry of Finance. Revenue from selling cryptocurrencies, whether through converting to fiat currency or using them for goods or services purchases, incurs a capital gains tax of 19%. The taxable amount is determined by the PLN value of the cryptocurrency at the time of sale. 

Deductible costs can include the purchase price of the digital asset or the value of goods or services exchanged for it. However, costs associated with mining like equipment and energy, are not considered deductible under current tax rules. The Ministry of Finance applies this uniform 19% tax rate across all cryptocurrency transactions, irrespective of the acquisition method or usage of the cryptocurrencies.

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How to Buy Bitcoin in Poland

For beginners who are new to cryptocurrency investment, here’s an easy guide on how to buy Bitcoin through a digital asset exchange in Poland:

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

This guide helps Polish users start trading digital assets by outlining the steps from account setup to executing trades.

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Bottom Line

In conclusion, Poland offers a secure environment for cryptocurrency trading, thanks to robust regulations by the Polish Financial Supervision Authority (KNF). Top exchanges like eToro, Bybit, Gate.io, Binance, and KuCoin provide diverse features and services, from trading and staking to derivatives. These platforms cater to Polish traders, making it easier to engage with the crypto market in a compliant manner.