Best Crypto Exchanges in Sweden

Best Cryptocurrency Exchange Sweden

Our team has thoroughly analyzed the 26 cryptocurrency platforms available in Sweden to identify the top choices for local investors. We considered essential factors such as compliance with the Swedish Financial Supervisory Authority (FSA) regulations, the range of digital assets offered, overall user experience, SEK deposit options, and fees. Below is a comparison table of the five best exchanges for Swedish traders.

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1. Bybit

Bybit is the best cryptocurrency exchange in Sweden, offering a diverse portfolio of over 1,200 digital assets to its user base of 30 million in over 160 countries. Thanks to its widespread availability, it can be used in Swedish and provides live local customer support. It also supports multiple order types with spot, futures and options markets supported. 

It regularly publishes its reserves to highlight that all assets are held on a 1:1 basis. The platform's unique selling point lies in its extensive range of cryptocurrencies and perpetual contract offerings, which provide up to 100x leverage and deep liquidity. Bybit also has lending, borrowing and staking services, allowing users to earn yields on their idle assets.

• Fees: The platform has a 0.02% maker fee and a 0.055% taker fee for futures. Spot trading is 0.1%
• Supported Assets: More than 1,200 digital assets.
• Regulation & Licensing: Compliant with CySEC and available in Sweden.‍
• SEK Deposit Methods: Bank transfers, BankID, Zen, SEPA, debit cards, credit cards, Samsung Pay, Google Pay, and Apple Pay.

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2. KuCoin

KuCoin is a popular crypto trading platform that specialises in altcoins, meme coins, and gameFi, metaverse tokens. It supports over 700 digital assets to trade on spot and futures markets with 50x leverage. It extends its services across more than 200 countries, including Sweden, with a user base exceeding 30 million, and provides 24/7 customer support in Swedish.

The exchange gives transparency through mechanisms such as audited proof-of-reserves, ensuring every digital asset is fully backed. Whether using its web interface or mobile app, KuCoin is designed for ease of use across different devices. In addition to investing, it provides lucrative staking options that allow users to earn up to 80% APY with both fixed and flexible terms supported.

• Fees: The trading fee is 0.1%, which can be reduced with higher trading volumes or by staking the exchange’s native KCS token.
• Supported Assets: Over 700 digital assets.
• Regulation & Licensing: Not regulated in Sweden but is available to use and access.‍
• SEK Deposit Methods: Bank transfers, SEPA, and credit or debit card payments.

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3. Gate.io

Gate.io is known for its impressive selection of over 2,100 digital currencies, the most diverse crypto selection worldwide. It is also appealing due to its competitive fees, starting at just 0.1% for spot trades and a maker/taker rebate that gets negative for users with high monthly trading volumes. The platform supports many SEK deposit methods, further enhancing its appeal.

It has a daily trading volume surpassing $5 billion and a community of more than 16 million users, demonstrating its strong presence and popularity in the global crypto scene. The platform further enhances user experience with unique features like trading bots, staking options, lending and borrowing services, and a dedicated startup section.

• Fees: 0.1% for maker orders and 0.2% for taker orders on spot markets.
• Supported Assets: More than 1,700 digital assets.
• Regulation & Licensing: While not directly licensed in Sweden, it remains accessible to Swedish users.‍
• SEK Deposit Methods: Bank transfers, debit cards, credit cards, PayPal and Apple Pay.

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4. Safello

Safello is the leading local exchange based in Stockholm and established in 2013. It is popular for its robust features and strong compliance record. The platform offers accessibility through its desktop platform and mobile app with fast transaction speeds, along with a secure Safello Wallet for storing digital assets. 

However, potential users should be aware of its high fee structure, which follows a tiered, volume-based model, starting at a minimum fee of 35 SEK for buying and selling. Operating under the oversight of Sweden's Financial Supervisory Authority and utilizing advanced Fireblocks MPC-technology, the platform meets the highest industry security standards. Its credibility is further bolstered by its listing on the Nasdaq First North Growth Market since 2021.

• Fees: Tiered volume-based fees for buying/selling range from 1% to 5%, with additional withdrawal and administrative fees.
• Supported Assets: Supports 50 cryptocurrencies.
• Regulation & Licensing: Registered with the Swedish Financial Supervisory Authority.‍
• SEK Deposit Methods: Mobile BankID.

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5. OKX

OKX is a cryptocurrency trading platform focusing on DeFi and Web3 applications with its native blockchain, OKTC. Its integrated OKX Wallet is useful for those interested in DeFi, as it connects with popular protocols like AAVE and Uniswap. There are over 300 tokens available for spot, futures, options, and margin trading with leverage options up to 100x.

Although OKX is based in Seychelles and adheres to its local regulations, it's fully accessible and enjoys popularity among Swedish investors. Thanks to its robust API functionalities and compatibility with Web3 protocols, plus unique features like on-chain yield farming and an NFT marketplace, it's tailored to service DeFi enthusiasts.

• Fees: 0.1% maker fee and a 0.2% taker fee, with a standard 0.1% fee for spot trading.
• Supported Assets: Over 300 digital assets.
• Regulation & Licensing: Not regulated in Sweden but available to clients.‍
• SEK Deposit Methods: Bank transfers, debit and credit cards, Apple Pay and Google Pay.

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Is Crypto Regulated in Sweden?

Yes, cryptocurrency is regulated in Sweden. The Swedish Financial Supervisory Authority (Finansinspektionen) oversees crypto activities, requiring exchanges and wallet providers to register and comply with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. The authority emphasizes the risks of crypto investments, citing their volatility and lack of intrinsic value. 

Meanwhile, Sweden's central bank, the Riksbank, supports digital currency innovation and is exploring an "e-krona," a digital version of the national currency. Even the state’s Pension Fund AP7 has indirect Bitcoin investments in this largely cashless society. Despite regulatory warnings, buying and selling digital assets are allowed through approved exchanges.

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How is Crypto Taxed in Sweden?

Yes, cryptocurrencies are taxed in Sweden. The Swedish Tax Agency (Skatteverket) requires residents to report all crypto transactions. Profits from trading are taxed at a 30% capital gains rate, while losses can be deducted up to 70%. For long-term holdings, cryptocurrencies are treated as business income and taxed between 20.6% and 22%. 

Sweden's tax system is progressive, with a 32% municipal rate for those earning less than 523,200 Swedish Kroner annually and a 52% combined rate for higher earners, making it one of the highest globally. Given these high rates and strict regulations, meticulous record-keeping and reporting of all crypto transactions are essential to avoid legal issues.

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‍How to Buy Bitcoin in Sweden

If you’re new to cryptocurrency investment, understanding the process of purchasing Bitcoin through a digital asset exchange in Sweden is recommended. Here is a quick breakdown:

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 Swedish Krona (SEK): Go to the deposit section of your account, select SEK as your deposit currency, and enter the amount you wish to transfer. Confirm and complete the transaction using your preferred deposit method.
3. Choose Bitcoin: Search for Bitcoin (BTC) in the trading section. Select the SEK/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 SEK you wish to spend. Review the order details, including price and fees, then finalize the trade.

This guide gives Swedish users a clear way to start trading digital assets, detailing the steps from account creation to completing trades.

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Bottom Line

In conclusion, crypto adoption in Sweden has grown due to supportive regulations from the Swedish Financial Supervisory Authority (FSA). This has led to establishment of local exchanges like Bybit, KuCoin, Gate.io, Safello, and OKX, each offering unique features and robust security. These platforms support Swedish Krona (SEK) transactions and provide reliable, user-friendly services for Swedish investors.