Best Crypto Exchanges in Portugal

Best Cryptocurrency Exchanges in Portugal

Our expert team evaluated 27 cryptocurrency exchanges available in Portugal to identify the top options for local investors. This thorough assessment considered compliance with the Portuguese Securities Market Commission (CMVM) regulations, EUR deposit options, user experience, supported digital currencies, fee structures, and platform features. Below is a comparison table highlighting the top 5 platforms for Portuguese traders.

‍

1. Bybit

Bybit is the leading cryptocurrency exchange in Portugal with over 30 million registered users and offering a multilingual interface available in Portuguese. It has a diverse collection of over 1,100 digital assets to buy and trade on spot, futures and options markets with up to 100x leverage on 180 derivatives contracts. Its main attraction is its transparent proof-of-reserves, which is updated on a regular basis to show assets are backed on a 1:1 basis.

The platform is recognized for its extensive range of features such as crypto loans, staking services, copy trading, practice accounts, Launchpad, trading bots, a crypto debit card and an NFT marketplace. This diverse range of services gives users access to several investment types and a variety of methods to earn a passive yield on their idle assets. It also provides free and instant EUR deposits, making it perfect to Portuguese investors.

• Fees: Maker fee of 0.02% and taker fee of 0.055%.
• Supported Assets: Over 1,100 digital assets.
• Regulation & Licensing: Adheres to international and Portuguese regulatory standards.‍
• EUR Deposit Methods: Bank transfers, SEPA, Easybank, iDEAL, Zen, and credit or debit cards.

‍

2. Uphold

Uphold is a Portuguese cryptocurrency exchange with offices in Braga and Porto. It is home to over 10 million users in more than 150 countries. It supports a diverse portfolio of over 250 digital currencies, plus traditional assets, including 27 fiat currencies and 4 precious metals. Its unique feature is the lucrative staking opportunities, allowing investors to gain up to 25% Annual Percentage Yield (APY) on a select range of 30 cryptocurrencies.

In compliance with European regulatory standards, Uphold prioritises transparency and trust for Portuguese users. It's registered with major financial authorities worldwide, and regularly undergoes third-party audits of its reserves, ensuring each asset is accounted for. This commitment to security, combined with a user-friendly trading experience on both web and mobile platforms, solidifies its status as a top choice.

• Fees: Trading fee of 1% and a spread fee of 1%.
• Supported Assets: Over 250 digital assets, 4 precious metals, and 27 fiat currencies.
• Regulation & Licensing: Fully compliant with European regulations, Uphold is a trusted entity in the Portuguese market.‍
• EUR Deposit Methods: Bank transfers and credit or debit cards.

‍

3. Bitpanda

Bitpanda is a multi-asset exchange that operates under the oversight of Portugal's Securities Market Commission (CMVM), providing a compliant environment for Portuguese users. Based in Vienna, it provides a wide range of services tailored to European investors, including a multilingual interface and customer support. It offers over 3,000 cryptocurrencies, stocks, ETFs, and more. Its staking services are a distinctive offering, further enhancing its appeal.

Adhering to stringent regulatory standards, Bitpanda facilitates smooth Euro deposits with diverse payment options like Sofort. The platform offers additional features including a crypto debit card, lending and borrowing services, staking, Spotlight, BEST rewards and Bitpanda Club. It also undergoes weekly auditing conducted by KPMG to provide complete transparency in its asset reserves.

• Fees: Crypto trading fee of 0.2% and a variable rate for other assets.
• Supported Assets: Over 3,000 cryptocurrencies, stocks, ETFs, indices, and precious metals.
• Regulation & Licensing: Compliant with the Portugal's Securities Market Commission (CMVM).‍
• EUR Deposit Options: Bank transfer, iDEAL, debit cards, credit cards, Sofort, and PayPal.

‍

4. MEXC

MEXC is a popular derivatives cryptocurrency trading platform, distinguished by its extensive selection of over 800 crypto assets. Its key selling point is the option to open positions on futures contracts with high-leverage up to 200x. This feature is especially beneficial for skilled traders. The exchange is headquartered in Seychelles and licensed in Estonia but operates legally in Portugal and 180 other countries.

The platform caters to various trading preferences with offerings like spot and margin trading, staking, and Initial Exchange Offerings (IEOs). Its ability to handle over $2 billion in daily trading volume shows its robust market adaptability and commitment to user security. MEXC's diverse trading options, competitive fees, and user-focused approach make it an excellent choice for traders in Portugal.

• Fees: Maker fees ranging from 0.02% to 0.06% and taker fees are 0.06% to 0.08%.
• Supported Assets: Over 800 cryptocurrencies.
• Regulation & Licensing: Licensed in Estonia and available in Portugal.‍
• EUR Deposit Methods: Bank transfers or debit and credit cards.

‍

5. Gate.io

Gate.io is a cryptocurrency trading platform supporting over 2,100 assets to trade on spot, futures and options markets with leverage options up to 100x available. It has over 16 million registered users across Portugal and 200 other countries and provides live local customer support. Thanks to its global accessibility, it can be used in Portuguese and 30 other languages, and accepts deposits in Euros.

It commands a significant global presence with its high 24-hour trading volume of $6 billion. The platform enhances the trading experience with innovative features like automated trading bots, an NFT marketplace, lending and borrowing services, staking options, copy trading services and the Gate card, a crypto debit card. The main overall attraction is its diverse asset portfolio with thousands of tokens.

• Fees: Maker fees at 0.1% and taker fees at 0.2%.
• Supported Assets: Over 2,100 digital assets.
• Regulation & Licensing: Operating offshore in Seychelles, Gate.io is accessible in Portugal.‍
• EUR Deposit Methods: Bank transfers, debit and credit cards.

‍

Is Crypto Regulated in Portugal?

Crypto regulation in Portugal is defined by targeted provisions and the broader application of existing legal frameworks. The Portuguese AML Law requires registration for certain crypto-asset services, focusing on Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) oversight. This primarily affects providers of exchange, transfer, and custodian wallet services. However, a comprehensive regulatory framework for all crypto-assets is not yet established.

General laws and securities regulations can also apply, particularly to crypto-assets that resemble securities. The Portuguese Securities Market Commission (CMVM) evaluates such assets based on their features and the rights they grant investors. Depending on the specific crypto-asset or service, other legal frameworks, such as the Portuguese Civil Code, intellectual property, and consumer protection laws, might also be relevant.

‍

How is Crypto Taxed in Portugal?

Cryptocurrency taxation in Portugal underwent significant changes in 2023, introducing a structured tax regime for digital assets. Short-term capital gains, defined as holdings under 365 days, are taxed at a flat rate of 28%. Crypto income is categorized under three main types: capital, capital gains, and self-employment income. 

Capital income from passive investments is taxed at 28%, while capital gains held for less than a year also face the same rate, but gains held longer are exempt. Self-employment income, including mining and professional trading, is taxed at progressive rates between 14.5% and 53%. These changes mark a shift from Portugal's previous crypto tax-free stance, aligning the country with broader European standards while still offering favorable conditions for long-term investors.

‍

How to Buy Bitcoin in Portugal

This guide provides a step-by-step process for purchasing Bitcoin and other cryptocurrencies in Portugal, whether you're buying, selling, or trading.

1. Create an Account: Provide your name and email address to set up an account. You'll also need to verify your identity with a photo ID, like a driving licence or passport, before you can buy cryptocurrency or use the platform.
2. Deposit Funds in EUR: Go to the deposit section of your exchange account. Enter the amount of Euros you want to transfer and choose your payment method, such as a bank transfer, credit card, or debit card. You can check your chosen platform’s fees & limits to see how long it will take for your funds to be credited. 
3. Find Desired Cryptocurrency: To buy Bitcoin or other cryptocurrencies, enter the coin name or symbol in the search box. For example, search for BTC to buy Bitcoin. Select the EUR/BTC pair and enter your trade details.
4. Execute Trade: Click the ‘buy’ or ‘trade’ button to purchase your chosen cryptocurrency. Enter the amount you want to buy and complete the trade.

‍

Bottom Line

Cryptocurrency adoption in Portugal is thriving, supported by favorable regulations and increasing public interest. The Portuguese Securities Market Commission (CMVM) ensures a secure trading environment, making it a promising market for investors. Whether you choose Bybit for its extensive features or another top platform like Uphold, Bitpanda, MEXC, or Gate.io, investing in crypto in Portugal is straightforward and safe.