Best cryptocurrency exchanges for Europeans

Best cryptocurrency exchanges for Europeans

If you’re ready to join the cryptocurrency space after you must have seen the endless potential that crypto trading has, we have listed the best cryptocurrency exchanges for Europeans where you can safely buy Bitcoin and other cryptocurrencies with the lowest possible fees.

It may surprise you that buying Bitcoin, Ethereum, and other currencies as a European is surprisingly easy. 

There are so many good bitcoin and cryptocurrency exchanges in Europe, but most times, it is also wise to look abroad for the best possible deal. 

Especially since some of the global cryptocurrency exchanges like Binance and Coinbase have already established themselves to be trustworthy and would most likely help you secure your cryptocurrencies better.

Most of the cryptocurrency exchanges listed in this article accept Euro deposits via SEPA or credit/debit card, so you can get started quickly.

Best cryptocurrency exchanges for Europeans

These are the best cryptocurrency exchanges for Europeans to buy Bitcoin and other cryptocurrencies based on customer base, security of the platforms, and customer care availability:

  1. Best overall and best for beginners: Coinbase
  2. Best for stocks and cryptocurrencies: eToro
  3. Best exchange for earning interest in cryptocurrencies: BlockFi
  4. Best for day trading and advanced users: Kraken
  5. Best for customer’s trust and DCA: Gemini
  6. Best European cryptocurrency exchange: Bitpanda
  7. Best for derivatives and token stocks: FTX

Note: Based on research and the countless cryptocurrency hacks on numerous exchanges, it might be safer to use a hardware wallet to protect your crypto. You might just want to consider moving your coins from exchanges to a hardware wallet like the Ledger Naxo X. Hardware wallets store your private keys offline and require you to sign all transactions with a separate device. You cannot be hacked unless you share your opening passphrase.

Coinbase: Best overall cryptocurrency exchange and best for beginners

Coinbase is one of the best cryptocurrency exchanges for Europeans | Coinscreed

Coinbase is the most popular cryptocurrency exchange for Europeans and a recommended starting point for beginners thanks to its highly intuitive user interface. 

Coinbase is also one of the safest places to buy Bitcoin and other major cryptocurrencies due to its strong security record (never been hacked) and security features like two-factor authentication, whitelisting, offline storage of user funds, and insurance policy. .

Special Offer: You can earn up to 6% on Coinbase Staking Rewards.

You can easily deposit or withdraw EUR via SEPA using your bank or debit card, or send your newly acquired cryptocurrency to a cold wallet for safer storage. 

Coinbase offers several popular euro trading pairs such as BTC/EUR and ETH/EUR, and your profits are instantly sent to your Coinbase wallet.

Additionally, Coinbase makes your first cryptocurrency buying experience as a novice extremely easy due to its highly attractive user interface. 

Once you get comfortable with the platform, you can transfer your trades to Coinbase Pro for free with significantly lower fees and advanced trading options.

eToro: Best exchange for trading stocks and cryptocurrencies

eToro is one of the best cryptocurrency exchanges for Europeans | Coinscreed

eToro is one of the largest financial brokerage companies in the world with over 15 million registered users. Yes, that’s right! A whopping 15 million people use eToro to acquire and store cryptocurrencies

It offers an easy to use mobile cryptocurrency trading platform that is ideal for beginners due to its simple user interface, quick registration process, and easy order placing system.

Best cryptocurrency exchanges for Europeans

eToro is also Incredibly smooth and easy to navigate, the mobile app offers newbies a $100,000 virtual trading account to explore risk-free cryptocurrency trading. 

You can buy all major cryptocurrencies in the intuitive trading interface, complete with an animated social chat feed for each currency, and the ability to copy other more experienced traders in real-time using the popular CopyTrader feature.

In terms of security, eToro complies with European regulators, the Cyprus Securities and Exchange Commission (CySEC), and the UK Financial Conduct Authority (FCA). 

In addition to the trading platform, eToro offers a personal cryptocurrency wallet with a range of security features including private keys, multi-sign capabilities, DDoS protection, and ISO 27001/27032 protocols.

eToro is a multi-asset platform offering stock and crypto asset investing, as well as CFD trading.

Note that CFDs are complex instruments and carry a high risk of losing money quickly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You must ask yourself if you understand how CFDs work and if you can take the high risk of losing your money.

Past performance should never be your motivation for future results. The trading history shown by all these trading platforms are never up to 5 full years of complete profits, and may not be sufficient as a basis for your investment decision.

Copy Trading is a portfolio management service provided by eToro (Europe) Ltd. which is licensed and regulated by the Cyprus Securities and Exchange Commission.

Investing in crypto assets is not regulated in some countries in the EU and UK. And since there is no consumer protection, your capital may be at risk.

BlockFi: Best cryptocurrency exchange for earning interest

BlockFi is one of the best cryptocurrency exchanges for Europeans | Coinscreed

If you have already bought cryptocurrencies on an exchange and want to make good use of them, check out BlockFi. 

BlockFi is the world’s largest provider of cryptocurrency savings accounts where you can earn interest on Bitcoin, Ethereum and cryptocurrencies. 

If this sounds too good to be true, let us show you why we consider them highly: the platform is backed by $450 million in venture capital and has more than $15 billion in user assets under its management.

While it is generally recommended to keep your cryptocurrency in cold storage, this strategy does not allow you to accumulate your holdings over time. 

With the BlockFi interest account, you can earn monthly interest on BTC, ETH and a variety of cryptocurrencies with almost no effort. 

While you can’t deposit EUR (yet), you can send your coins from another exchange like Coinbase and start earning interest right away.

In terms of the trust, BlockFi has a strong team behind it and has a high level of transparency. 

Most importantly, BlockFi is regulated in most US states and uses NYDFS-regulated Gemini to store customer assets under strict banking laws, making it one of the most trusted providers in the cryptocurrency space.

Kraken: Best cryptocurrency exchange for day trading and advanced users

Kraken is one of the best cryptocurrency exchanges for Europeans | Coinscreed

Based in the US, Kraken is one of the oldest, largest and most trusted cryptocurrency exchanges in the world with a strong presence in the European market. 

It is a great place for advanced users to trade between cryptocurrencies and traditional fiat currencies due to its wide range of trading pairs with the Euro, but it is also one of the best places for margin trading as investors can see up to 50x can achieve leverage.

Special Kraken Offer: Stake your coins on Kraken and earn up to 7% interest on Ethereum and up to 6% on Cardano.

Kraken’s web interface can be a little bit confusing for first-timers, and that is why we recommend the mobile app for a much more intuitive experience. 

In terms of low service fees, Kraken may be the best place to buy and sell Bitcoin and other cryptocurrencies in Europe due to its highly competitive schedule.

Depositing and withdrawing Euros into your account from your bank (including large amounts) can be easily processed through SEPA transfers, and Kraken uses local European banks to process transactions.

Like Coinbase, Kraken has never been hacked and offers some of the best overall security features for investors. They keep 95% of their coins in offline storage wallets, which are locked away in air-tight rooms, and monitored 24/7 by armed guards.

Kraken is also the first cryptocurrency exchange to receive a true US banking license and plans to become a global cryptocurrency bank for all of its customers in the coming years. 

The company is also authorized in Europe by the Financial Conduct Authority (FCA), which is the UK’s leading financial regulator.

Gemini: Best cryptocurrency exchange for trust and dollar-cost averaging

Gemini is one of the best cryptocurrency exchanges for Europeans | Coinscreed

Gemini is the brainchild of Tyler and Cameron Winklevoss, the twin brothers who sued Mark Zuckerberg over the invention of Facebook. 

The Gemini exchange was launched in 2015 with the goal of becoming a bank-friendly crypto company. 

As we see the crypto space becoming increasingly regulated, many see Gemini as a viable platform for government control.

Gemini is a good place to start if you’re a new investor and don’t like Coinbase (for whatever reason you may have). 

The company supports around 40 coins, from very large tokens to the smallest altcoins. 

It has the simplest user interface compared to the other cryptocurrency exchanges in this article, and this simplifies the entire buying and selling process. 

If you are an active day trader, Gemini also has a more technical trading platform called ActiveTrader.

A big selling point for doing business with Gemini is the company’s insurance coverage for digital assets and the careful separation of customers’ funds from those of the company. 

You can deposit Euro via SWIFT or SEPA transfer and set up a one-time or recurring purchase of your favourite currency over time at set intervals.

Bitpanda: Best cryptocurrency exchange for native Europeans

Bitpanda is one of the best cryptocurrency exchanges for Europeans | Coinscreed

Bitpanda is an Austrian multi-asset trading platform that helps only Europeans trade cryptocurrencies, stocks, ETFs, and commodities. 

The company was founded in 2014 and is steadily becoming one of the fastest-growing cryptocurrency exchanges in Europe with over 2,000,000 customers.

If you are looking for a reputable European cryptocurrency exchange, Bitpanda is one of the best places to buy Bitcoin and other digital assets.

The most interesting thing about Bitpanda is its recent expansion into products other than cryptocurrencies. 

European customers can now trade other digital token assets such as fractional shares and ETFs for as little as €1 per share, without commissions, and the unique option of 24/7 access to investments.

And If you ever decide to cash out your trade positions, you can spend them in euros with the free Bitpanda Visa Card and receive cashback in BTC with every purchase.

However, if you decide to save your cryptocurrencies, Bitpanda offers a simple savings plan that allows you to convert the average cost of euros to bitcoin and other cryptocurrencies over time to reduce the impact of volatility. 

You can set up a savings plan with a SEPA debit or direct debit card and Bitpanda will automatically make recurring purchases on your behalf.

FTX: Best cryptocurrency exchange for derivatives and tokenised stocks

FTX is one of the best cryptocurrency exchanges for Europeans | Coinscreed

This particular cryptocurrency exchange is aimed at more sophisticated users. FTX is one of the largest platforms for trading derivatives such as futures and tokenized stocks.

FTX’s clients can trade a variety of contracts against their cryptocurrencies, including synthetic versions of shares in public companies like Tesla, Apple or Facebook, or buy ETFs like S&P 500 with a SPY ETF. 

Token shares are one of the newest digital assets that allow investors to own whole or fractional shares of a company.

While you will quickly become familiar with the FTX platform, it is primarily aimed at more experienced traders looking for greater risk with high rewards. 

If you have the courage to try, FTX integration is easy, with few hurdles to get started. You can deposit cryptocurrencies or top up your EUR account via SEPA transfer and get started right away.

How to buy Bitcoin and other cryptocurrencies in Europe

As a cryptocurrency investor, to get started with buying Bitcoin and other cryptocurrencies, you must follow these 5 steps:

  1. Choose a reputable cryptocurrency exchange
  2. Open an account
  3. Fund your account
  4. Buy whichever cryptocurrency you want
  5. Decide where to store your cryptocurrency
Best cryptocurrency exchanges for Europeans

Investing in Bitcoin, Ethereum and other popular cryptocurrencies have become surprisingly easy compared to a few years ago. 

One of the easiest ways to buy Bitcoin in Europe is through a cryptocurrency exchange, and you can easily deposit Euros and exchange them for any cryptocurrency of your choice.

Choose a reputable cryptocurrency exchange

The first step is to choose a reputable place to buy your cryptocurrency. The easiest way is to choose a bag from the list above as these bags are the most reliable, accept European customers and have a long history of excellent security.

Open an account

When you find your preferred exchange, you will need to provide personal information and pass a necessary KYC verification

This requires you to send in a copy of your passport or driver’s license, a selfie and a recent utility bill. 

You can always switch to a decentralized exchange later for better anonymity, but most new investors are onboarded through a traditional exchange.

Fund your account

Today, cryptocurrency exchanges accept various fiat currencies (USD, EUR, GBP, etc.) and you can fund your account using several popular payment methods. 

SEPA transfers are usually free and take 0-3 days, while credit/debit card purchases are instant but incur higher fees.

Buy whichever cryptocurrency you want

After choosing a cryptocurrency exchange and funding your account, you can buy Bitcoin and other cryptocurrencies. 

Exchanges offer market and limit orders that you may be familiar with from brokers. If you are inexperienced, a beginner-friendly platform like Coinbase will make the process much easier as it offers great solutions for novice investors.

Decide where to store your cryptocurrency

For long-term cryptocurrency holdings, consider “moving” your cryptocurrency to a hardware wallet for maximum security

This gives you maximum control over your money and greatly reduces the risk of losing money. 

To grow your wealth over time, there is also an option to earn interest on your bitcoin through a crypto savings account like BlockFi.

How to choose a safe cryptocurrency exchange

Here are some important factors to consider when choosing the safest cryptocurrency exchange for your digital assets:

  1. Security
  2. Ease of use to both beginners and serial investors
  3. Trading and transaction fees

Security

Cryptocurrency exchanges are much more secure today than they were a few years ago and are rarely hacked these days. 

Almost all reputable places offer the latest security standards to protect your property from theft.

This can include two-factor authentication (2FA), address whitelisting, anti-phishing codes, and the mandatory use of strong passwords.

Ease of use to both beginners and serial investors

The largest cryptocurrency exchanges have interfaces that appeal to both novice and experienced users. The platform you choose should be easy to use for beginners, but at the same time give you more tools and options as you understand the markets better.

Trading and transaction fees

Frequent traders understand the importance of low trading and transaction fees. However, long-term investors should not ignore the impact of fees on investment returns. 

If an exchange doesn’t promise fees or commissions, they will charge a higher margin, which offsets the appearance of cost savings. 

In other words, beware of high fees, but don’t push too hard if you plan to last long.

Best cryptocurrency exchanges for Europeans: Conclusion

In this guide, based on the major factors which customers look out for in cryptocurrency exchanges, these are the best cryptocurrency exchanges for Europeans:

  1. Coinbase: Best overall cryptocurrency exchange and best for beginners
  2. BlockFi: Best cryptocurrency exchange for earning interests from staking cryptocurrencies
  3. Kraken: Best cryptocurrency exchange for trust
  4. Bitpanda: Best European cryptocurrency exchange
  5. FTX: Best cryptocurrency exchange for derivatives and tokenised stocks

Europeans looking to buy and sell cryptocurrencies are almost always caught at a crossroads when trying to choose between reliable and secure exchanges. 

In this article, we have listed the best cryptocurrency exchanges for Europeans, keeping the different types of investors and traders in mind. 

But ultimately you should choose the one that best suits your needs.

For any cryptocurrency exchange you may eventually decide to use, pay attention to online reputation, transaction fees, payment methods, and different supported cryptocurrencies and fiat pairs. 

What is the best cryptocurrency trading app in Europe?

Most of the cryptocurrency exchanges on this list offer mobile apps for iOS and Android. They are great for following the markets and making trades on the go. The most popular cryptocurrency trading apps for Europeans are:

  1. Coinbase
  2. BlockFi
  3. Kraken
  4. Bitpanda
  5. FTX
  6. Binance

Frequently Asked Questions on Cryptocurrency Exchanges for Europeans

Here are some frequently asked questions about the best cryptocurrency exchanges in Europe:

Is Bitcoin legal in Europe?

The European Union has yet to enact specific legislation on the status of Bitcoin or any other cryptocurrency. 

There doesn’t appear to be any country in Europe, inside or outside the EU, that has banned the use of bitcoin.

Are cryptocurrency exchanges regulated in Europe?

Most cryptocurrency exchanges available to European residents are unregulated. However, they still have to comply with regulatory standards. 

The UK is one of the first countries to regulate local exchanges and other countries are expected to follow soon.

How do I withdraw money from cryptocurrencies in Europe?

If your bank is okay with cryptocurrency-related transactions, you can withdraw them for Euros on most of the exchanges mentioned in this article. 

If your local bank doesn’t support cryptocurrencies, you can explore an internet bank like Nuri (Germany) or Fidor (Germany also), or look into private banking options for larger amounts.

Do European banks support cryptocurrencies?

One of the biggest problems cryptocurrency investors face is converting to fiat currency and withdrawing funds to their bank accounts. 

Banks have to follow many KYC and AML rules and may feel uncomfortable accepting transactions related to cryptocurrencies

This makes paying taxes a hurdle for many investors, but with growing interest in cryptocurrencies and upcoming regulations, we can only hope that banks will be forced to soften their stance.

Which European countries are friendlier to cryptocurrencies?

For retail investors, the most crypto-friendly European countries are Portugal, Switzerland, Slovenia, Malta, France, and Germany. See this post for the full explanation.

What is the digital euro and where can I get more information?

The European Union plans to make the digital euro the eurozone CBDC. The digital euro will function as a synthetic version of the physical euro, but as a cryptocurrency on a blockchain.

The digital euro is issued by the ECB and has legal force. More importantly, banks no longer have to act as intermediaries, enabling P2P transactions.

Privacy is the main concern of the digital euro as the ECB will be able to track all usage and spending.

How are cryptocurrencies taxed in Europe?

Across Europe, policies and regulations on the taxation of cryptocurrencies vary from country to country. 

In most countries, cryptocurrencies are subject to capital gains tax or other income taxes. However, there are many countries where winnings are tax-free. 

However, more and more countries are enacting specific tax laws or incorporating cryptocurrencies into existing laws. It’s a slow process, perhaps due to a lack of political will and understanding