Best Crypto Exchanges in Sweden

Summary: In Sweden, the optimal approach to invest in Bitcoin and other digital assets is through platforms that comply with the regulations laid down by the Swedish Financial Supervisory Authority (Finansinspektionen) and the Sveriges Riksbank. Such accredited exchanges offer the advantage of depositing Swedish Krona (SEK) via BankID, Klarna, domestic bank transfers and popular payment methods like Swish and credit or debit cards.

To assist you in making an informed decision within the crypto market, we've evaluated the top 5 exchanges available to residents in Sweden. These platforms rise above the rest as the most trustworthy and reliable options.

1. eToro - Best Crypto Exchange in Sweden
2. Uphold - Best Platform for Beginners
3. Bybit - Best Option for Crypto Derivatives
4. Safello - Best Sweden-based Exchange‍
5. OKX - Best for Web 3 Compatibility
   

Best Cryptocurrency Exchange Sweden

After thoroughly reviewing over 20 exchanges, we've identified the top five perfect for investors in Sweden. Our assessment considers factors like compliance with regulations established by the Finansinspektionen or equivalent European authority, the variety of digital assets offered, overall ease of use, options for depositing Swedish Krona (SEK), and the fee structure. To find the exchange that best matches your cryptocurrency goals in Sweden, refer to our detailed list below.

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1. eToro

In the Swedish cryptocurrency landscape, eToro consistently ranks at the top. Offering access to a wide variety of over 3,000 financial assets, the platform goes beyond cryptocurrencies like Bitcoin and Ethereum to include traditional investment vehicles such as stocks, commodities, and ETFs. This breadth of options enables Swedish investors to build a diversified investment portfolio using a single, secure, and well-regulated platform.

When it comes to adhering to regulations, eToro is unparalleled. The platform holds a CySEC license and fully complies with guidelines laid out by a range of tier-1 regulators across Europe, including the Financial Conduct Authority (FCA) and others, making it a highly secure and trusted choice for trading cryptocurrencies in Sweden and beyond. With a global user base exceeding 30 million, eToro's credibility as a trustworthy platform is well-established.

• Fees: eToro works on a variable spread fee structure, usually around 1%.
• Supported Assets: The platform boasts an impressive range of over 3,000 assets, from digital currencies to conventional investments like ETFs and stocks.
• Regulation & Licensing: eToro strictly adheres to CySEC and other tier-1 regulators across Europe.
• SEK Deposit Methods: Bank transfers, Klarna, debit cards, credit cards, and other financial services are all supported.

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2. Uphold

Securing our second-place recommendation for Swedish cryptocurrency enthusiasts is Uphold, a versatile platform with a global reach of over 150 countries and more than 10 million users. With an expansive offering of over 250 digital assets, Uphold stands as a worthy contender to eToro. One feature that sets it apart is its simplified staking capabilities, allowing investors to earn up to 25% APY on a diverse range of up to 30 cryptocurrencies.

Uphold scores high on the transparency and trustworthiness scale. Registered with top financial authorities globally, it also complies with European regulatory standards, including those set by Sweden's Financial Supervisory Authority (Finansinspektionen). The platform offers audited proof-of-reserves, meaning all its digital assets have 1:1 backing, making it a transparent and trustworthy choice for crypto investment. Whether you prefer to trade on the web, iOS, or Android, Uphold offers a seamless experience across all platforms.

• Fees: Uphold charges a 1% fee for trading activities, in addition to a 1% spread fee.
• Supported Assets: The platform has an extensive portfolio of 250+ digital assets, four types of precious metals, and 27 fiat currencies.
• Regulation & Licensing: Uphold is fully compliant with European regulations and is registered in the Republic of Lithuania.
• SEK Deposit Methods: Various options are available, such as bank transfers, SEPA, Google Pay, Apple Pay, and credit/debit cards.

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3. Bybit

Taking the third spot on our list for crypto investors is Bybit. This multifaceted platform best suits experienced traders interested in various options, including futures or options contracts. Bybit boasts an impressive range of over 770 digital assets, and its straightforward deposit methods for Swedish Krona make it a particularly convenient choice for the Swedish market. The platform also scores well on security features and offers an intuitive user interface.

Besides a wide selection of cryptocurrencies, Bybit diversifies its offerings by providing futures contracts with up to 25x leverage, along with an emerging NFT marketplace. This expands the possibilities for those keen on various crypto investments in Sweden. With a nominal maker fee of 0.01% and a taker fee of 0.06%, industry-leading security and over 10 million users, Bybit is a reliable platform for investors in Sweden.

• Fees: The platform charges a maker fee of 0.01% and a taker fee of 0.06%.
• Supported Cryptocurrencies: Bybit offers a remarkable array of over 770 digital assets.
• Regulation & Licensing: The platform is fully in line with regulations set by Sweden's Financial Supervisory Authority, ensuring a secure trading environment.
• SEK Deposit Methods: Multiple options for depositing are available, including bank transfers, BankID, debit and credit cards, Google Pay, and Apple Pay.

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4. Safello

Safello, established in 2013 and based in Sweden, secures the fourth spot on our list for its robust features and strong compliance record. The platform offers a user-friendly mobile app and industry-leading transaction speeds, along with a secure Safello Wallet for storing digital assets. However, potential users should be aware of Safello's high fee structure, which follows a tiered, volume-based model, starting at a minimum fee of 35 SEK for buying and selling.

Notably, Safello stands out for its stringent commitment to security and regulation. 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, making it a reliable but pricier option for those entering the crypto space.

• Fees: Tiered volume-based fees for buying/selling range from 1% to 5%, with additional withdrawal and administrative fees.
• Supported Cryptocurrencies: Safello offers 50 digital assets, including Bitcoin, Ethereum, Chainlink, Polkadot, Polygon, Algorand, Uniswap, and USD Coin.
• Regulation & Licensing: Registered with the Swedish Financial Supervisory Authority, Safello adheres to the highest industry standards.
• SEK Deposit Methods: Payments are fast and straightforward, facilitated through Mobile BankID.

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5. OKX

For those interested in a wide array of trading options, OKX comes in fifth on our list for Sweden. Known for its expansive suite of over 300 crypto assets, OKX provides more than just spot trading; it's a go-to platform for futures, options, and margin trading. Its integrated OKX Wallet is particularly useful for those eager to dive into decentralized finance (DeFi), as it connects with popular protocols like AAVE and Uniswap to generate high yields.

Although OKX is based in Seychelles and adheres to its local regulations, it's fully accessible and enjoys popularity among Swedish investors. It's especially tailored to meet the needs of institutional traders and DeFi enthusiasts, thanks to its robust API functionalities and compatibility with web3 protocols.

• Fees: OKX features a 0.1% maker fee and a 0.2% taker fee, with a standard 0.1% fee for spot trading.
• Supported Cryptocurrencies: The platform offers a rich variety of over 300 digital assets, extending to futures and leveraged trading options.
• Regulation & Licensing: While OKX is based in Seychelles, it is accessible in Sweden and complies with European financial guidelines.
• SEK Deposit Methods: The platform offers several deposit methods popular in Sweden, including bank transfers, debit and credit cards.

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Is Crypto Regulated in Sweden?

Sweden has a complex stance on cryptocurrency regulation, marked by diverging views from different government bodies. The Finansinspektionen (FI) cautions the public about the high risks involved in cryptocurrency investments, emphasizing their lack of intrinsic value and reliable valuation. Conversely, the Riksbank, Sweden's central bank, actively supports digital currency innovation and is exploring the development of an "e-krona," a digital form of the national currency.

In practice, Sweden is largely a cashless society, and even the state's Pension Fund AP7 indirectly invests in Bitcoin. Importantly for investors, buying and selling of digital assets are permitted through approved exchanges in Sweden, notwithstanding the regulatory warnings.

Overall, while some Swedish agencies like the FI advise caution, other institutions and practical societal behaviors suggest a more accepting attitude toward cryptocurrencies.

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Is Crypto Taxed in Sweden?

Cryptocurrencies are considered taxable financial instruments, and residents must report all transactions to the Swedish Tax Agency (Skatteverket). Profits from cryptocurrency trading are subject to a 30% capital gains tax, while losses are deductible up to 70%. For long-term holdings, these assets are considered income from business operations and are taxed between 20.6% and 22%

The country also has a progressive income tax model, with two main brackets: those earning less than 523,200 Swedish Kroner per year are taxed at a municipal rate of 32% and a national rate of 0%. Those earning more face a combined tax rate of 52%, making Sweden one of the highest tax-paying countries globally. Given these high tax rates and strict regulations, it is crucial for Swedish residents to meticulously record and report all cryptocurrency transactions to avoid legal repercussions.

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How to Buy Bitcoin and Crypto in Sweden

Interested in acquiring Bitcoin or other digital assets in Sweden? Here’s a concise guide to ensure you transact securely and in compliance with local regulations:

1. Opt for a Regulated Exchange: Pick an exchange approved by Sweden's Financial Supervisory Authority (Finansinspektionen) or another European regulatory body.
2. Set Up and Confirm Your Account: Use a valid email to register and create a strong password. Complete the KYC process by submitting the necessary identification and proof of residence.
3. Deposit Funds in Swedish Krona: Use popular local options like Swish, Bankgiro, or standard bank transfers. Credit and debit cards are also widely accepted.
4. Make Your Purchase: In the trading section, select the crypto you wish to buy, set the amount in Swedish Krona or the crypto, and approve the transaction.
5. Safeguard Your Investment: Transfer your new cryptocurrencies to a private, encrypted wallet for enhanced security.

By adhering to these steps and choosing a regulated exchange, you're setting yourself up for a secure and compliant digital asset investment in Sweden. Always prioritize your data and wallet security, and make informed investment choices.

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Bottom Line

In summary, investing in cryptocurrencies in Sweden is most securely done through exchanges that adhere to local and European financial regulations. We've taken the guesswork out of finding the right platform by evaluating the top five exchanges available in Sweden: eToro, Uphold, Bybit, Safello, and OKX. These exchanges stand out for their compliance, asset variety, user experience, and payment options compatible with the Swedish Krona. 

Always remember to consider factors like regulatory compliance, fee structure, and supported assets before making your choice. By sticking to our carefully assessed list and maintaining awareness of Sweden's cryptocurrency tax laws, you'll be better equipped for a successful and compliant investment journey in digital assets.