Summary: In Ukraine, the primary approach to investing in Bitcoin and other cryptocurrencies involves utilizing platforms that adhere to the standards outlined by the National Securities and Stock Market Commission of Ukraine. These authorized exchanges facilitate the transfer of funds in Ukrainian Hryvnia (UAH) via local banking methods, Privat24, and card payments.
To assist you in navigating the market with informed choices, we have meticulously reviewed and identified the top 5 crypto exchanges accessible to residents in Ukraine. These platforms are recognized as the most dependable for investors in this sector.
Best Cryptocurrency Exchanges Ukraine
After a thorough review of more than 20 exchanges, we have identified the top five most suitable for investors in Ukraine. Our assessment focused on factors such as compliance with the guidelines of the National Commission for the State Regulation of Financial Services Markets of Ukraine, the range of available cryptocurrencies, ease of use, methods for depositing Ukrainian Hryvnia (UAH), and the pricing model. For Ukrainian investors looking for an exchange that meets their needs, our detailed list below provides essential guidance.
Earning the distinction as the top choice for Ukrainian crypto investors, Bybit stands out as an ideal platform. Designed for experienced traders, it provides various investment tools, including futures and options contracts. What sets Bybit apart is its impressive array of over 770 digital assets, alongside easy deposit methods suited to the Ukrainian market, with transactions available in Ukrainian Hryvnia (UAH).
Bybit doesn’t just offer a wide selection of cryptocurrencies; it also expands its offerings with futures contracts featuring up to 25x leverage, crypto staking, and a growing NFT marketplace. This broad spectrum of investment options appeals to Ukrainian investors seeking variety in crypto investing. The platform combines competitive fees, a maker fee of 0.01% and a taker fee of 0.06%, stringent security protocols, and a global user base exceeding 10 million, marking Bybit as a reliable and leading choice for investors.
- Fees: Bybit ensures competitive trading with a maker fee of 0.01% and a taker fee of 0.06%.
- Supported Cryptocurrencies: Bybit offers over 770 digital assets and stablecoins.
- Regulation & Licensing: Bybit is licensed globally and trusted by over 10 million investors. It is available and legal in Ukraine.
- UAH Deposit Methods: Provides various UAH deposit options, including local bank transfers, Advcash debit cards, credit cards and popular digital payment methods.
OKX claims the second spot as a leading choice for Ukrainian crypto investors, recognized for its wide array of trading options. Hosting over 300 crypto assets, OKX extends beyond basic spot trading, emerging as a favored platform for futures, options, and margin trading. The OKX Wallet, a central feature, is particularly beneficial for those exploring DeFi, offering seamless integration with protocols such as AAVE and Uniswap for higher staking yields.
Situated in Seychelles and adhering to its regulatory standards, OKX remains fully accessible and notably favored in Ukraine. It caters specifically to the needs of institutional traders and DeFi enthusiasts, providing robust API capabilities, industry-leading liquidity and compatibility with web3 protocols.
- Fees: OKX offers a competitive fee structure, with a 0.1% maker fee and a 0.2% taker fee, plus a standard 0.1% fee for spot trading.
- Supported Cryptocurrencies: The platform features over 300 digital assets, including futures and leveraged trading options.
- Regulation & Licensing: While based in Seychelles, OKX complies with Ukrainian financial standards, establishing it as a secure option for Ukrainian users.
- UAH Deposit Methods: OKX accommodates various deposit methods, including local bank transfers, online payment systems, and card transactions.
Binance secures the third position in the Ukrainian market, known for its expansive ecosystem and a substantial global user base exceeding 150 million. The platform's offerings extend beyond standard spot and futures trading, featuring innovative services like Binance Earn, which allows users to generate yields on over 180 cryptocurrencies. This feature is particularly attractive for those aiming to diversify their portfolios and build passive income avenues.
While Binance aims to adhere to international financial standards, it's crucial to note its past regulatory challenges in various jurisdictions. Ukrainian investors should consider this when assessing the platform's compliance with local regulations. Nonetheless, Binance remains appealing, especially for institutional investors, offering sophisticated trading products like crypto options with significant liquidity.
- Fees: Binance charges a competitive 0.1% fee for spot trading and 0.06% for derivatives.
- Supported Assets: The platform offers an extensive array of over 350 cryptocurrencies.
- Regulation & Licensing: Although not directly regulated in Ukraine, Binance is accessible and popular among Ukrainian users.
- UAH Deposit Methods: Binance supports bank transfers, credit cards and debit cards for UAH.
Gate.io secures its place as the fourth-best cryptocurrency exchange in Ukraine, particularly excelling as the top platform for altcoins. This exchange stands out with its expansive offering of over 1,700 cryptocurrencies, making it a prime destination for those looking to trade a diverse range of digital assets. Gate.io is known for its zero trading fee purchases, which adds to its appeal among traders.
With a 24-hour trading volume of over $5.89 billion and a registered user base exceeding 14 million, Gate.io demonstrates both its capacity and popularity in the crypto space. The platform also offers unique opportunities like trading bots and a startup section, which includes initiatives such as Gate Wealth Wednesday and various trading competitions, providing users with multiple ways to engage with the market.
- Fees: Gate.io offers competitive fees starting at 0.1% for maker orders and 0.2% for taker orders.
- Supported Cryptocurrencies: The platform boasts an extensive selection of over 1,700 digital assets.
- Regulation & Licensing: Gate.io is headquartered offshore in the Seychelles and is available in the Ukraine with support for UAH.
- UAH Deposit Methods: Gate.io supports various deposit options, including local bank transfers and major digital payment methods, facilitating easy access for users.
Kuna, holding the title of the top Ukrainian-based cryptocurrency exchange, provides a streamlined and user-friendly platform for trading a select range of 15 digital assets. It is particularly noted for its direct UAH trading pairs, such as BTC/UAH and ETH/UAH, which cater to the needs of the Ukrainian market.
The platform stands out for its secure and efficient transaction capabilities, offering a variety of deposit methods, including bank transfers and credit cards. Kuna’s commitment to compliance and transparency is evident in its adherence to GDPR and other relevant regulations, ensuring a trustworthy trading environment for its users. Furthermore, the platform’s founder, Mikhail Chobanyan, enhances community engagement through active communication, reflecting Kuna's focus on user support and a personalized trading experience.
- Fees: Kuna charges a flat fee of 0.25% per trade.
- Supported Cryptocurrencies: Supports 15 crypto assets, including BTC, ETH, USDT, DOGE, and DAI.
- Regulation & Licensing: Kuna is licensed in Estonia and available for investors in Ukraine.
- UAH Deposit Methods: Kuna supports various methods, including bank transfers, credit cards, and several digital payment systems.
Is Crypto Regulated in Ukraine?
In Ukraine, cryptocurrency regulation has advanced significantly, particularly amid the ongoing conflict. The government legalized the cryptocurrency market on March 17th, enabling the legal operation of crypto exchanges. This step was crucial for facilitating substantial crypto donations for defense efforts, amounting to over US$100 million by late March.
The journey towards regulation involved amending an initial bill on "virtual assets" to assign oversight to the National Bank of Ukraine and the Securities Commission. This law, enacted on March 17th, legalizes crypto trading and equates the legal protection of cryptocurrency holdings to that of the national currency, the hryvnia. Registration with regulators is now required for crypto operators, marking a significant stride in integrating cryptocurrency into Ukraine's financial and legal framework.
Is Crypto Taxed in Ukraine?
In Ukraine, cryptocurrency taxation follows general tax law principles, as specific regulations for crypto-assets are not yet established. The Law of Ukraine "On Virtual Assets" requires amendments to the Tax Code for its full implementation. Currently, corporate entities pay a standard profit tax of 18% on crypto trading profits, while individuals are taxed at 18% personal income tax plus 1.5% military tax on their crypto income.
Draft tax rules propose a preferential tax rate of 6.5% for individual gains from cryptocurrency sales, with the possibility of carrying forward losses to future tax years. The taxation of mining and staking activities remains undefined, and any income from these sources is likely to be taxed as standard "other income." For more information, it is recommended to review the State Tax Service of Ukraine for the most current advice.
How to Buy Bitcoin and Crypto in Ukraine
To purchase Bitcoin or other cryptocurrencies in Ukraine while complying with local regulations, consider these essential steps:
- Select a Licensed Exchange: Opt for a cryptocurrency exchange regulated under Ukrainian laws, particularly following the Law of Ukraine "On Virtual Assets," ensuring adherence to local financial regulations.
- Register and Verify Your Account: Create an account with a valid email and strong password. Complete the KYC (Know Your Customer) process with necessary identification and proof of residence.
- Deposit Funds: Use Ukrainian Hryvnia (UAH) to deposit funds via local bank transfers, digital payment methods, or credit and debit cards.
- Purchase Cryptocurrency: In the exchange, choose the desired cryptocurrency, decide the amount in UAH or crypto equivalent, and confirm your purchase.
- Secure Your Investment: Enhance security by transferring crypto assets to a private, encrypted wallet.
These guidelines ensure a secure, compliant cryptocurrency investment process in Ukraine. Always prioritize security and informed trading decisions.
In conclusion, navigating the cryptocurrency landscape in Ukraine involves selecting from top exchanges like Bybit, OKX, Binance, Gate.io, and Kuna, each offering unique advantages and complying with Ukrainian regulations. Investors must be aware of the evolving legal framework, especially the Law of Ukraine on Virtual Assets, and the forthcoming changes to the tax code.
Whether it's for trading, investment, or fundraising, adhering to these guidelines ensures a secure and compliant experience in Ukraine's dynamic crypto market. As the legal and tax landscape evolves, staying informed and prioritizing security and smart trading decisions are key to successful cryptocurrency engagement in Ukraine.