Best Crypto Exchanges in Europe

Best Cryptocurrency Exchanges in Europe

After thoroughly evaluating more than 25 cryptocurrency platforms available across Europe, our team has identified the top five options. We considered essential factors such as compliance with European (MiCA) financial regulations, the range of supported assets, overall user experience, EUR deposit options, and fee structure. Below is a comparison table of the 5 best exchanges for European traders.

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1. eToro

eToro is the most popular multi-asset trading platform in Europe, offering its 30 million registered customers access to over 4,500 financial assets. Users can trade popular cryptocurrencies like Bitcoin and Ethereum, as well as stocks, commodities, and ETFs, all from a single interface. It supports EUR deposits through various local payment methods like SEPA, iDEAL, and Sofort.

The exchange is registered with top European financial authorities, such as the CySEC, DNB, AMF, OAM, MFSA and Bank of Spain. Its unique copy trading feature allows users to automatically replicate the trades of other popular investors on the platform. With its competitive fees and attractive spreads, eToro is the go-to investment platform in Europe. 

• Fees: Variable spread fee model of 1%.
• Supported Assets: Over 4,500 cryptocurrencies, ETFs, commodities and stocks.
• Regulatory & Licensing: eToro (Europe) Ltd is regulated by CySEC under licence number 109/10. It has also acquired multiple European licenses from the DNB, AMF, Bank of Spain, PAM, MFSA and GFSC.‍
• EUR Deposit Methods: Bank transfers, SEPA, debit cards, credit cards, PayPal, Skrill, Neteller, iDEAL, Sofort, Klarna, Przelewy 24 and Trustly.

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2. Bybit

Bybit is a derivatives trading platform serving more than 30 million users across Europe. It has a daily trading volume exceeding $25 billion across all order books, making it one of the best exchanges for those seeking deep liquidity. There are 1,200 digital assets to trade on spot, futures and options markets.Users can trade perpetual contracts and futures with up to 100x leverage.

As a global platform, it can be used in 22 languages, including French, Italian, Spanish, German, Dutch, Portuguese, and more. It regularly publishes its reserve holdings to show that all assets are backed up 1:1 and provide complete transparency. Aside from crypto, Bybit supports an NFT marketplace that gives users access to popular projects like Bored Apes, Miladys, and Pudgy Penguins.

• Fees: Maker fee of 0.02% and a taker fee of 0.055% for futures trading. Spot trading is 0.1%.
• Supported Assets: Over 1,200 digital assets.
• Regulation & Licensing: Regulated by the CySEC under registration number 305956090.‍
• EUR Deposit Methods: SEPA, debit cards, credit cards, bank transfers, Wise, Google Pay, iDEAL, Zen, Samsung Pay, and Apple Pay.

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3. Uphold

Uphold is a British crypto exchange that showcases a diverse portfolio of over 260 digital assets, plus 4 precious metals and 27 traditional currencies. It is upheld by strict regulatory oversight from tier-1 authorities, including the FCA and the Bank of Lithuania. It is one of the few platforms providing audited proof-of-reserves that is updated every 30 seconds to show assets are held 1:1. 

Founded in 2014, it is one of the oldest investment platforms in Europe and has grown to serve 10 million clients. A standout feature is its user-friendly staking services, offering investors the chance to earn up to 25% APY on 30 selected assets. In addition, there are OTC services, a native crypto wallet called UpHODL and a self-custody vault feature. 

• Fees: 1% trading fee and a 1% spread fee.
• Supported Assets: 260 cryptocurrencies, 27 fiat currencies and 4 precious metals.
• Regulation & Licensing: Uphold is regulated in Europe by the Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania.‍
• EUR Deposit Methods: SEPA, bank transfer, credit card, debit card, Google Pay and Apple Pay.

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4. Gate.io

Gate.io is a great option for those interested in diversifying their cryptocurrency portfolio, as it has the most diverse token selection in the world. The platform offers over 2,100 digital assets to trade across spot and derivatives markets, providing up to 100x leverage on futures contracts. It has over 16 million registered users and a daily trading volume of over $5 billion.

It provides advanced trading tools and robust security measures, catering to both casual and professional traders. There are several features available for users, such as lending and borrowing services, multiple staking options, an NFT marketplace, trading bots, a crypto card, copy trading and a practice account.

• Fees: 0.1% for maker orders and 0.2% for taker orders.
• Supported Assets: More than 2,100 digital assets.
• Regulation & Licensing: Regulated by multiple European authorities.
• EUR Deposit Methods: Bank transfers, SEPA, Apple Pay, Google Pay and debit or credit cards.

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5. Kraken

Kraken is the best platform for institutional investors in Europe, offering a comprehensive suite of services, including spot, futures, and margin trading with up to 5x leverage. The exchange enables trading and staking in over 250 cryptocurrencies, including Bitcoin, Ethereum, Solana, and various emerging tokens. It is known for its deep liquidity and advanced security features. 

It provides detailed market insights, making it suitable for high-volume traders and institutional clients. Specifically designed for professional and institutional investors, Kraken Pro delivers competitive spreads, substantial liquidity, and high deposit limits, reinforcing Kraken's reputation as a reliable exchange for sophisticated investors.

• Fees: Maker orders at 0.01% and taker orders at 0.02%.
• Supported Assets: Over 250 spot markets and more than 100 margin trading markets.
• Regulation & Licensing: Licensed by CySEC, the FCA, the OAM and many others.‍
• EUR Deposit Methods: SEPA, SWIFT, bank transfers, credit cards and debit cards.

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Is Crypto Regulated in Europe?

Cryptocurrency has seen significant growth and acceptance across Europe, with countries taking proactive measures to regulate and integrate digital assets into their financial systems. The European Union (EU) has created a unified regulatory approach through the Markets in Crypto-Assets Regulation (MiCA). 

Approved on April 20, 2023, MiCA aims to streamline the adoption of blockchain and distributed ledger technology (DLT) while protecting users and investors. It provides legal clarity around cryptocurrencies, security tokens, and stablecoins, similar to the EU’s Markets in Financial Instruments Directive (MiFID).

Germany, France, Switzerland, and the Netherlands are key players in the European crypto market. Germany allows banks to offer crypto investment services. France has introduced regulations for Initial Coin Offerings (ICOs). Switzerland, with its crypto-friendly policies, has become a hub for blockchain startups, particularly in "Crypto Valley."

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How is Crypto Taxed in Europe?

Cryptocurrency taxation in Europe varies by country, with different regulatory approaches and tax policies. Understanding these differences is essential for compliance and optimizing tax liabilities. Most countries classify crypto as assets or currencies, affecting how gains and transactions are taxed. Most apply capital gains tax on crypto profits, but specifics differ widely.

Here is a quick overview of the key European markets and their relative tax requirements:

1. Germany: The Federal Central Tax Office considers cryptocurrencies as private money. Gains from crypto investments are tax-free if held for more than a year. If sold within a year, the gains are subject to income tax, but only if they exceed €600.
2. France: The General Directorate of Public Finances taxes cryptocurrency gains as capital gains on movable property at a flat 30%, including income tax and social contributions. Frequent traders may face different tax obligations than professional traders.
3. Netherlands: The Dutch Tax and Customs Administration considers cryptocurrencies as assets and falls under the wealth tax system. The value of your crypto holdings is calculated as part of your total assets, and a deemed rate of return is taxed.
4. Switzerland: The Swiss Federal Tax Administration states that crypto investments are generally exempt from capital gains tax for individual investors. However, wealth tax applies, and professional traders may be subject to income tax.
5. Spain: The Agencia Tributaria taxes cryptocurrency gains as capital gains. The rates range from 19% to 26% depending on the amount of profit. Spain also requires detailed reporting of cryptocurrency holdings and transactions.

Most European countries require detailed reporting of crypto transactions. This includes not only gains but also the movement of assets between wallets and exchanges. The EU is working towards more harmonized regulations, including detailed reporting requirements under the DAC7 directive, which aims to improve tax transparency.

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How to Buy Bitcoin in Europe

For beginners who are new to cryptocurrency investment, here’s an easy guide on how to buy Bitcoin through a digital asset exchange in Europe:

1. Open an Account: Visit a reputable exchange's website to create an account. Click on "Sign Up" and complete the identification process by uploading a photo ID and possibly a selfie or proof of address.
2. Deposit Euros (EUR): Go to the deposit section of your account, select EUR as your deposit currency, and enter the amount you wish to transfer. Confirm and complete the transaction using your preferred deposit method.
3. Select Cryptocurrency: Search for Bitcoin (BTC) in the trading section. Choose the EUR/BTC pair to see the current market rate. Review the available trading options, such as market and limit orders.
4. Execute Trade: Click 'buy' or 'trade' to purchase Bitcoin. Enter the amount of Bitcoin you want to buy or the amount of EUR you want to spend. Confirm the order details, including price and fees, and complete the trade.

This guide helps European users start trading digital assets by outlining the steps from account setup to executing trades.

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Bottom Line

In conclusion, cryptocurrency adoption in Europe is expanding quickly, supported by regulatory frameworks like MiCA. This regulation ensures a unified and secure approach across the EU. For European investors, top exchanges such as eToro, Bybit, Uphold, Gate.io, and Kraken provide diverse features and strong compliance, making them ideal for various trading needs.