how-to-buy-bitcoin-in-sweden

Best Bitcoin exchanges for Sweden

Sweden is a highly developed country where you will find a lot of options from whom you can choose. From small local providers to large and highly regulated exchanges offering Wire and SEPA transfers, debit and credit cards, etc…

What is the legal status of Bitcoin in Sweden?

Sweden has taken a favorable stance towards Bitcoin and has created a welcoming environment for blockchain businesses. The crypto industry has been further legitimized by the Swedish Financial Supervisory Authority – FSA (Finansinspektionen) which publicly asserts Bitcoin and other cryptocurrencies as a means of payment. According to the Swedish Tax Agency, profit from buying and selling Bitcoins is not subjugated to Swedish VAT, it’s a subject to the FSA regulations with Bitcoin being treated as a currency. Businesses that deal with FIAT transfer, mostly for exchanges, have to apply for an approval and license, while also fulfilling all the AML, CTF and KYC requirements.

Sweden – One of the leaders!

The Nordic country is shaping up to be one of the leaders in the blockchain space with one of the most favorable environments for Bitcoin. The level of awareness for Bitcoin and cryptocurrencies is very high. Sweden’s capital Stockholm is the second largest Fintech hub in Europe.

Sweden is also one of the leaders in cashless societies with over 95% of the transactions being digital. Bitcoin and cryptocurrencies, in general, may be perfect for the present and future environment development in Sweden.

Where to buy Bitcoin in Sweden?

You can buy Bitcoin in Sweden through the following exchanges:

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 Sweden?

You can trade Bitcoin in Sweden through the following trading platforms:

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 Sweden about Bitcoin

Events in 2014 

Sweden government turns to the European Union to come up with rules on VAT (Value-added Tax)

Sweden based payment processor Klarna tests a Bitcoin integration to serve US and Europe clients more efficiently.

Bitcoin-related business gets their bank accounts suspended from Nordea and other Swedish Banks

Events in 2015

The biggest Bitcoin consumer-oriented event is held in Stockholm

BTCX exchange takes the Swedish Tax Authority to court over the request to disclose the transaction history of over 20 000 customers

The 3rd largest bank in Sweden releases a whole page ad to explain its stance on Bitcoin in the biggest online newspaper – Swedish Dagbladet with the title “This May be Bitcoin’s Fatal Blow”

Stripe expands its payment services to Sweden, Finland, Norway, and Denmark becoming a direct competitor to Klarna

Events in 2016

Blockchain smart contracts are tested for land registering 

The Swedish Bank SEB invests in Danish blockchain payment service provider Coinify

Swedish Bitcoin Foundation warns against OneCoin – a famous Ponzi scheme in the crypto industry

Events in 2017

Blockchain smart contracts land registry finishes its second phase

Sweden officially starts using the blockchain land registry 

Nasdaq and SEB partner in a test for Mutual funds on Blockchain

Events in 2018

After two years of testing the first Blockchain property transaction is conducted by Lantmäteriet (Swedish land-ownership Authority)

Stockholm IT Ventures AB (SITV) obtains a software license agreement with Valens Bank

Events in 2019

Android users in Norway, Denmark and Sweden can purchase ETH (Ethereum) through the Opera browser

Swedish based exchange QuickBit is hacked, leaking sensitive information about its users.