If you are from Europe getting involved with Bitcoin is easier than most people think. As
most of the countries in Europe have well developed financial services and some rely on cashless payments way more than
before, buying Bitcoin and
trading it, is a straightforward process. A big percentage of the people have the option to buy Bitcoin almost seamlessly. Of course, there are
certain things to be considered such as regulations, taxes of the country that you reside in, etc.
In the beginning, it was much harder to buy Bitcoin as there was no infrastructure easing up the process being built. Nowadays when it comes to ways of buying, selling or trading, Europe is quite versatile with a lot of methods such as EU based FIAT gateways, exchanges, trading platforms, etc.
In each country, you will find local Bitcoin providers as well as an option to go for bigger and more prominent exchanges, which serve all of Europe. In most cases exchanges like those present a better option to buy, sell or trade a higher quantity of Bitcoin than your local ones. They are highly regulated and have high security, however, Wire or SEPA deposits may take a little longer than making almost instant deposits to a local exchange. Regulation is very important and some people may choose to go and buy Bitcoin through a regulated exchange. Of course, there are unregulated exchanges where you can buy Bitcoin anonymously but consider that even exchanges claiming to be anonymous may comply with governments and hand over user data if required, therefore, it’s important for the user to decide where to buy sell or trade depending on his needs.
Who are the Financial Regulators in Europe?
It is wise to know the country’s regulators and what is the tax. A lot of
people don’t know it and don’t even bother to read. If you plan to get
involved with Bitcoin it is wise to know the prospects of your country’s
law and how it is treated and taxed. It can help you in calculating whether the
risk is worth it and deciding how and when to buy or sell a crypto asset. The tax in different countries
ranges wildly so if you don’t know it is good that you check it beforehand. The list of regulators is big
and there is a different regulation authority for every country. In most cases,
the regulations are similar with minor differences.
Of course, there are countries out there that may have an opposite view on how to regulate a certain asset, ranging from negative to very democratic about it.
Some of the more
prominent financial regulatory authorities include:
United Kingdom – Financial Conduct Authority (FCA)
Germany – Federal Financial Supervisory Authority (BaFin – Bundesanstalt für Finanzdienstleistungsaufsicht)
Russia – Central Bank of Russia (CBR)
France – Autorité des marchés financiers (AMF)
Italy – Commissione Nazionale per le Società e la Borsa (CONSOB)
What is the stance towards Bitcoin of Countries in Europe?
In Europe, you will find countries like Switzerland, Slovenia, Malta, Gibraltar and Estonia that have the most positive stance towards Bitcoin and were one of the first movers in adopting the technology behind it and Bitcoin itself it as an asset
Switzerland has a tax-free approach and its city of Zug is a crypto hub with a large number of crypto oriented startups operating there.
Slovenia is to be considered the Silicon Valley of Crypto in Europe and has the strongest support from its people towards Bitcoin in the world.
Malta created a friendly regulatory environment in order to attract cryptocurrency and blockchain-related businesses. Giants from the crypto industry like Binance and Okex have relocated part of their operations in Malta.
Gibraltar along with Malta were the first countries making an effort in attracting crypto-related companies and startups with their DLT (Distributed Ledger Technology) licenses and friendly regulations while also applying no tax on capital gains or added value.
Estonia, a country where startups and innovation are encouraged, also features a set of licenses in blockchain.
How to buy Bitcoin in Europe?
Getting involved with crypto is a straightforward process in Europe since a large part of it has taken a positive or a neutral stance towards crypto assets.
Buying Bitcoin from local or global exchanges is really easy, as they offer different methods for depositing FIAT – from Wire Transfers to Debit/Credit cards. These are exchanges that require KYC (Know Your Customer) in order for you to fully unlock their potential. You need to verify your Identity beforehand buying cryptocurrencies through them. Of course, there is an option to buy Bitcoin without KYC through some major exchanges using their integrated third-party providers such as Changelly or Simplex.
Europe’s best bitcoin exchanges and trading platforms by country in alphabetical order:
There are platforms built specifically for trading and providing an environment along with the necessary instruments. Trading platforms differ from exchanges as they offer leverage and the ability to long and short the market, plus advanced order types such as Iceberg, OCO, etc,
Which exchanges are based in Europe?
If you want to trade,
buy and sell Bitcoin on an exchange based in Europe – you are in luck as there are several exchanges to choose from
that are of high quality. You should
always do your own research even on the most regulated and strict exchanges.
CEXhas its headquarters and registered in the UK, with a DLT license from Gibraltar and a Money Services Business status in FinCEN
eTorois based in 3 countries – Israel, Cyprus and the UK, it is one of the highly regulated exchanges and trading platforms. eToro is regulated by the FCA, CySEC, also registered as a CIF (Cypriot Investment Firm) and is a (National Futures Association) member in the USA.
Bitpandais located in Vienna, Austria, one of the most famous exchanges in Europe thanks to its simple design, also a member of the Austrian Chamber of Commerce (WKO), Section: Trade.
Nagaheadquarters are located in Cyprus and is supervised by CySEC while offering a wide range of instruments and options for trading.
PrimeXBTis an innovative leverage trading platform registered in Seychelles (PrimeXBT Trading Services Ltd) and in St. Vincent and Grenadines (Prime Technologies Ltd.). The platform is in the process of moving its trading infrastructure in Switzerland.
Deribitis registered and with headquarters in the Netherlands, a highly secure leverage trading platform offering a lighting fast trading platform on Bitcoin and Ethereum.
Those are some of the
exchanges that are based in Europe. We chose to list those because of certain
characteristics, provided services, quality of the service with a strong
foundation. Trading, buying and selling Bitcoin in Europe continues to become
easier and easier thanks
to the opportunity that some countries give with a proper level of regulation. Of course, markets like Asia and North
America also have big names and friendly regulations and are paving the way in some countries
especially in those in Asia.