Summary: In Spain, the most effective way to buy and trade Bitcoin and other cryptocurrencies is through an exchange regulated by the European Securities and Markets Authority (ESMA). Investors can utilize bank transfers, SEPA payments, and a range of alternative methods to deposit Euros (EUR) and engage in the acquisition, staking, and trading of digital assets in a compliant manner.
To assist you in starting your crypto adventure in Spain, our team has assessed the top 5 trading platforms in the country. These are the most trustworthy options available:
Top Crypto Platforms in Spain
Following an examination of over 15 cryptocurrency exchanges, we've identified the top platforms for Spanish investors. Our approach considers critical factors such as compliance with the Bank of Spain's regulations, the variety of available digital currencies, the user experience, Euro deposit methods, transaction fees, and additional criteria to provide an exact evaluation of these platforms.
eToro is the top crypto investment platform in Spain, boasting a broad selection of assets, encompassing over 3,000 cryptocurrencies, stocks, commodities, currencies, indices, and ETFs. Its unique social trading features, such as Copy Trading and a Virtual Account for practice, set it apart from competitors.
Regulated by the European Securities and Markets Authority (ESMA), eToro has earned the trust of millions of investors in Spain and across Europe. The platform is highly regarded by Spanish investors for its user-friendly interface and cost-effective Euro deposit options via SEPA payments, online banking services, and debit cards. Additionally, eToro offers competitive fees, with no initial commissions and narrow spreads on assets, making it the most secure and well-regulated investing platform in Spain.
- Fees: Free deposits & withdrawals, 0% trading fees and a 1% spread.
- Supported Assets: 70 cryptocurrencies, 3000+ stocks, 18 indices, 27 commodities, 49 fiat currencies, and 300 ETFs.
- Regulation & Licensing: Regulated & Licensed by the European Securities & Markets Authority (ESMA), CySEC, the FCA and other key regulators.
- Customer Support Options: 24/7 support via live chat, Spanish language support, email & online ticketing system.
- EUR Deposit Methods: Bank Transfer, Credit/Debit Card, Trustly, Klarna, SOFORT, Skrill, Neteller, and PayPal.
Uphold is the second best multi-asset trading platform in Spain, featuring over 250 cryptocurrencies as well as gold and silver for buying and selling. Established in 2014, Uphold provides a user-friendly exchange, competitive fees, multi-currency support, and solid security measures, appealing to both beginners and seasoned investors. Notably, it is among the select few exchanges with audited 1:1 proof-of-reserves.
It's worth mentioning that, unlike eToro, Uphold is not currently regulated by the European Securities and Markets Authority (ESMA). They possess a license from the Financial Conduct Authority (FCA) and are permitted to operate in Spain, as well as accept users from the country. Although Uphold remains a secure choice, their regulatory status may render them slightly less protected compared to eToro.
- Fees: Free Euro deposits via Bank Transfer and SEPA, 2.49% for Debit/Credit Cards. Trading fees vary between 0.8% - 1.2% depending on the asset.
- Supported Assets: 250 cryptocurrencies, 4 precious metals, 27 fiat currencies and environmental assets.
- Regulation & Licensing: Regulated by the Financial Conduct Authority (FCA)
- Customer Support Options: 24/7 support via live chat, online ticketing system and email.
- EUR Deposit Methods: Bank Transfer, Credit/Debit Card, SEPA, Google Pay & Apple Pay.
Bybit holds the third spot as a preferred crypto exchange in Spain, especially for investors who prioritize anonymity. This platform has gained substantial popularity, with over 10 million registered users across more than 180 countries. Bybit excels in its comprehensive array of services, offering features like leveraged trading, crypto staking, loans, and even an NFT marketplace. This rich offering, coupled with its low fee structure, ensures an excellent trading experience. Furthermore, its multi-lingual support, which includes Spanish and 20 other languages, makes it a user-friendly choice for Spanish crypto investors.
When it comes to regulation, Bybit is not directly licensed by the Bank of Spain, but they do offer their services in the country. The exchange is currently working on obtaining their Markets in Crypto Assets (MiCA) licensed for Spain and the European Union. With that said, Bybit is a trusted platform and is still a great option for investors looking to trade derivatives.
- Fees: 0.1% fee on spot markets, and the maker/taker rebate is 0.01%/0.06%.
- Supported Assets: 400+ cryptocurrencies.
- Regulation & Licensing: Headquartered in UAE and actively applying for licenses in Europe.
- Customer Support Options: 24/7 support via live chat, email, ticketing system & phone.
- EUR Deposit Methods: Credit Card, Debit Card, SEPA, Bank Transfer, Maestro & Google Pay.
Claiming the fourth spot among top cryptocurrency exchanges in Spain is Binance, a globally renowned platform catering to an expansive user base. Binance is known for its impressive portfolio of over 350 tradable assets, including market leaders like BTC, ETH, BNB and SOL. The platform is distinguished by its comprehensive set of features, encompassing spot trading, futures trading, margin trading, and staking, among others. Adding to its appeal, Binance offers a robust mobile application, facilitating seamless portfolio management anytime, anywhere. This blend of diverse offerings and user-centered design firmly positions Binance as a preferred choice for Spanish crypto investors.
In regulatory compliance, Binance has advanced significantly in Spain. Binance Spain, S.L., its Spanish arm, is now a registered Virtual Asset Services Provider, approved by the Bank of Spain with registration number D661. This enables Binance Spain, S.L. to provide crypto exchange and custody services in the country. This milestone affirms Binance's dedication to local regulatory compliance, enhancing its reputation and users' trust.
- Fees: Variable deposit fees (based on method) and withdrawals are free. 0.1% flat trading fees for spot and 0.02%/0.07% maker/taker rebate.
- Supported Assets: 350+ cryptocurrencies.
- Regulation & Licensing: Unregulated in Spain.
- Customer Support Options: 24/7 support via live chat, email & online ticketing system.
- EUR Deposit Methods: Credit/Debit Card.
Rounding off the list at the fifth position is Bitpanda, a highly regarded cryptocurrency exchange based in Austria. Bitpanda offers a wide range of services that cater to different investor needs, including spot trading, stocks & ETFs and crypto staking, among others. Its user-friendly interface, combined with competitive fees, make it an attractive option for investors. The platform also offers Spanish language support and is licensed by financial authorities to offer its products and services in the country.
The Bitpanda platform is licensed to offer financial services, including issuing and selling stocks and ETFs in Spain. Thet abide by European-wide regulations, including MiFID II for investor protection, and PSD2 for payment processing. As an Austria-registered Electronic Money Institution, Bitpanda can issue electronic money across Europe, including Spain.
- Fees: Deposits and withdrawals are free on Bitpanda and trading fees are 0.2% - 1%.
- Supported Assets: 200+ cryptos including Bitcoin, Ethereum, and Cardano.
- Regulation & Licensing: Regulated by the Financial Market Authority (FMA) of Austria.
- Customer Support Options: 24/7 customer support via live chat, email, and social media.
- EUR Deposit Methods: Bank transfer, Debit/Credit Card, NETELLER, Bank Wire, and PayPal.
Is Crypto Legal in Spain?
Cryptocurrency is legal in Spain, and its usage and adoption as a means of payment and investment have been on the rise in recent years. The Spanish government has taken a proactive stance towards digital assets, recognizing the potential benefits of cryptocurrencies for the economy and financial sector. As a result, the country has put in place regulations that support the growth and development of the cryptocurrency market.
In Spain, cryptocurrency exchanges are regulated by the Spanish Securities Market Commission (CNMV), which oversees their compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations. Additionally, the government has established a tax regime for cryptocurrency transactions, which treats them similarly to other financial assets. This means that gains from the sale of cryptocurrencies are subject to capital gains tax.
How to Buy Crypto in Spain
If you’re a complete beginner looking to buy Bitcoin and cryptocurrencies in Spain, follow this easy-to-understand guide for a safe and lawful transaction.
- Select a regulated platform: Opt for exchanges that comply with the rules of Spain's National Securities Market Commission (CNMV) or the European Securities and Markets Authority (ESMA).
- Create and verify your account: Sign up using your email, establish a strong password, and complete the KYC process by submitting necessary identification and proof of residence in Spain.
- Deposit EUR: Fund your account using SEPA transfers, instant bank transfers, or debit/credit cards.
- Purchase cryptocurrency: Choose the type and amount of digital currency in EUR or crypto, then confirm the transaction.
- Safeguard your investments: Transfer your digital assets to a personal wallet to enhance security.
By adhering to these instructions and choosing a reliable, regulated exchange, you can securely and legally acquire cryptocurrencies in Spain.
In conclusion, Spain offers a favorable environment for cryptocurrency trading with its forward-thinking regulatory approach and an increasing number of platforms to buy and sell digital assets. Following a comprehensive review, we recommend eToro, Uphold, Bybit, Binance, and Bitpanda as the top five cryptocurrency trading platforms in the country. All five exchanges offer a diverse range of cryptocurrencies, multiple deposit methods, and excellent customer support.
Nevertheless, as an investor, it's essential to consider factors such as regulatory compliance, security, fees, and available trading features before selecting a platform. Remember, the investment in cryptocurrencies involves risk, but by choosing a reliable platform and following best practices, you can navigate the crypto sphere safely and successfully in Spain.