best bitcoin exchanges for norway

Bitcoin in Norway

Norway gradually became friendlier towards Bitcoin, while changing its stance and providing favorable regulation outlines.

In 2013 Norway couldn’t define Bitcoin as money or currency and that it is considered a taxable asset of 25% capital gain tax.
The decision to classify Bitcoin as an asset considerably stifled adoption, which made dealing with Bitcoin way harder.

In November of 2019 Bitcoin transactions became VAT-Exempt, changing the stance of the Norwegian Tax Administration to get in line with the EU regulation (In October of 2015 the European Court of Justing ruled that Bitcoin exchange transactions are VAT-Exempt).

Norway is home to a private Anarcho-Capitalist city – Liberstad which adopted cryptocurrencies as the sole medium of exchange while also creating its own, called CITY.

In 2018 the Finanstilsynet (Financial Supervisory Authority of Norway) provided new AML regulation outlines for Crypto service providers. The consequences of the new regulation for the people is that they should expect to need to pass identity verification (KYC) and answer questions to clarify the purpose of the transaction and the origin of the user’s money.

Best bitcoin exchanges for Norway

Buying bitcoin in Norway is easy since the country isn’t on any sanctions list and has taken a favorable stance towards it, meaning that Norwegians have unlimited access to the best bitcoin exchanges in the industry.

Where to buy Bitcoin in Norway?

Here’s a list of the most used exchanges to buy or sell bitcoin by Norwegian people as of this date:

Exchange
Security
Pros & Cons
Trading
 
Exchange Huobi
Security

High

Pros & Cons

Pros: Great UI, 180+ cryptocurrency, very-high security

Cons:Third party for fiat deposits and withdrawals, low leverage

Trading

Normal

Exchange Changelly
Security

Pros & Cons

Pros: Great user experience, 3 fiat currencies available, Crypto payment solution

Cons:Selling of bitcoin is executed through a third party

Trading

Normal

Exchange Coinmama
Security

Pros & Cons

Pros: Easy to use, 5 fiat currencies available

Cons: Lack of UI customization, KYC

Trading

Normal

Exchange Bitfinex
Security

Pros & Cons

Pros: High security, Multiple deposit and withdrawal options, Innovative instruments

Cons: Lack of advanced UI customization, Only 2 options for derivative trading

Trading

Normal

Exchange Gemini
Security

High

Pros & Cons

Pros: Very high security, Friendly UI, Innovative instruments

Cons: Lack of UI customization, fiat deposits only in USD, limited asset selection

Trading

Normal

Exchange Kraken
Security

High

Pros & Cons

Pros: 6 fiat currencies, Very high security, High liquidity

Cons:KYC, Low customization options

Trading

Normal

Exchange Coinbase
Security

High

Pros & Cons

Pros: Very high security, Flexible buying option, High liquidity, Wide range of products

Cons: No advanced order types, Small range of cryptocurrencies

Trading

Normal

Exchange Cex
Security

High

Pros & Cons

Pros: 4 FIAT options for deposit, All of the crypto is traded against FIAT, Regular exchange and Margin trading platform in one, Regulated

Cons: Lackluster UI, Cannot modify the UI, Low Leverage, Mandatory KYC

Trading

Normal

Exchange Bitpanda
Security

High

Pros & Cons

Pros: 4 FIAT currency available, UI friendly to newcomers

Cons: Lack of UI customization

Trading

Normal

Exchange LocalBitcoins
Security

High

Pros & Cons

Pros: Peer to peer exchange, High volume, Available in 240+ countries

Cons: Only BTC, Old UI design

Trading

Normal

Where to trade Bitcoin in Norway?

Norway is home to some of the best traders in the world. In the list below you’ll find the most used platforms for trading by Norwegian people.

Exchange
Security
Pros & Cons
Trading
 
Exchange Basefex
Security

High

Pros & Cons

Pros: Next-gen UI, 10 trading pairs, Good reputation

Cons: Non-customizable UI, low leverage on some pairs

Trading

Leverage

Exchange Huobi
Security

High

Pros & Cons

Pros: Great UI, 180+ cryptocurrency, very-high security

Cons:Third party for fiat deposits and withdrawals, low leverage

Trading

Normal

Exchange Bitfinex
Security

Pros & Cons

Pros: High security, Multiple deposit and withdrawal options, Innovative instruments

Cons: Lack of advanced UI customization, Only 2 options for derivative trading

Trading

Normal

Exchange Gemini
Security

High

Pros & Cons

Pros: Very high security, Friendly UI, Innovative instruments

Cons: Lack of UI customization, fiat deposits only in USD, limited asset selection

Trading

Normal

Exchange Kraken
Security

High

Pros & Cons

Pros: 6 fiat currencies, Very high security, High liquidity

Cons:KYC, Low customization options

Trading

Normal

Exchange eToro
Security

Very High

Pros & Cons

Pros: Regulated, Multiple Types of Deposits, Over 1500+ Instruments

Cons: High Fees, KYC, No Crypto deposits and withdrawals

Trading

Leverage

Exchange Binance
Security

High

Pros & Cons

Pros: 350+ Cryptocurrencies, Debit/Credit cards accepted, Wide variety of options

Cons: Lack of advanced order types, No FIAT options beside stable coins for trading

Trading

Normal

Exchange Bitmex
Security

High

Pros & Cons

Pros: Global Market Leader, Highest volume on the market, High internal liquidity, Advanced order types, High security

Cons: Users from US not allowed, Platform freezes when high load

Trading

Leverage

Exchange Bybit
Security

High

Pros & Cons

Pros: Flexible withdraws, Good security, Demo account available

Cons: Only 4 options for trading, Low leverage on EOS and XRP

Trading

Leverage

Exchange Deribit
Security

High

Pros & Cons

Pros: Futures and Options trading, High leverage, High security, Insurance Fund

Cons: Only BTC and ETH trading, Limited deposit and withdraw options

Trading

Leverage

Prominent events in Norway about Bitcoin

Events in 2013

Norway decides that Bitcoin is not a currency, but a taxable asset

Pizza24, a Swedish pizza delivery services start to accept Bitcoin

Events in 2014

Bitcoinsnorway a new Norwegian cryptocurrency exchange donates 5% from its profit to charity

Events in 2016

A Blockchain system is used for Norway to attract tourists thanks to Loyyal – a New York based company

Norway’s largest bank DNB introduces a new feature on its app – Vipps, giving the option for its clients to pay to companies through bank accounts or debit cards, thus making the buying of Bitcoin seamless

Events in 2017

Prosecutors want a pay up from drug dealers linked to Silkroad in Bitcoin in Norway.

Payza, a global payment service provider adds Bitcoin to its list of available currencies, giving the option to their users to send, receive and store bitcoins through the app.

OneCoin (a Ponzi scheme) receives an Ultimatum from the Norwegian authorities

Events in 2018

Bitfury is approved by the Norwegian government to open a Datacenter in Norway

Bitmynt AS loses the in court against Nordea in an appeal against closing the exchange‘s bank account

Bitcoin mining farms stop receiving subsidies from the government of Norway

Events in 2019

Android users in Norway can now purchase Ethereum through the Opera browser

Liberstad – the Anarcho-Capitalist smart city adopts crypto as THE method of value exchange

Accepting Bitcoin becomes a priority for the Norwegian Airlines

Bitcoin Millionaire makes a dangerous jump through a balcony to escape an armed robbery.