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Best Bitcoin Exchanges in Europe in 2022

Last updated 10th May 2022
Disclosure

Evaluating and picking a suitable cryptocurrency exchange is a daunting task. There are a plethora of factors to consider such as fees, liquidity, and security. To help you, we have done an in-depth evaluation of exchanges in Europe. This page presents the best exchanges to help you become a successful investor.

Here’s Our List of Top Bitcoin Exchanges in Europe

Failure in selecting the best exchange means you end up paying high fees or even losing your investment. Compare our top recommendations that meet your needs and offer you the best rates.

1
eToro
Minimum Deposit
$200
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
2
Atani
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Popular among traders
Fast system for trading
Popular for beginners
3
Coinmama
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Easy to use tool
High profit potential
Offers Phone Support
4
Coinbase
Minimum Deposit
$50
Exclusive Promotion
User Score
6
Trade and invest in over 25 cryptocurrencies
Extremely simple user interface
Over 68 million customers
5
Paybis
Minimum Deposit
$50
Exclusive Promotion
User Score
5
First transaction fee free
24/7 customer service
Instant payouts

What Should I Look for in the Bitcoin Exchange in Europe?

There are several factors to consider when choosing which exchange to use to buy or trade Bitcoin in Europe. Before signing up for an exchange and placing that first order, consider the following:

  • Payment & withdrawal methods accepted: You will need to link your payment option to the crypto exchange before buying Bitcoin. For your convenience, select a platform that accepts your payment method. Standard payment methods include SEPA (Single Euro Payment Area) bank transfers, wire transfers, VISA, Mastercard, cryptocurrencies, and Sofort. Cashing out your Bitcoin investment is also a critical consideration. Select an exchange that provides a wide range of withdrawal options. These may include options like SEPA transfers, cards, Sofort, Paypal, and Skrill. Withdrawal may also be in the form of cryptocurrencies.

  • Exchange rate: The exchange rate can save or lose money. Crypto exchanges have different business models, and some look to make big margins off exchange rates. Due to the volatility that characterizes Bitcoin prices, investors should observe how the rate change fluctuates.

  • Fees: Exchanges have different business models, so fees will vary greatly. Some exchanges will not charge for deposits. However, you may encounter transaction and withdrawal fees. Some exchanges offer tiered fees based on the transaction amount, with larger transactions attracting better charges. The fees may be presented as a percentage of the transaction amount or as a fixed rate. We advise investors to study the fees schedule before settling for an exchange.

  • Design and ease of use: This will largely depend on personal preferences. Site functionality is important because investors want to buy Bitcoin, not focus on how the site functions. Nobody wants to use an exchange platform that is poorly designed and hard to use. A good exchange will make it easy to open your account, deposit, trade, and withdraw the profits.

  • KYC process: The European Union requires all exchanges to comply with the anti-money laundering directive (AMLD), demanding KYC verification. Some exchanges complete the verifications within a day, while others may take up to 5 days. When you sign up for a crypto exchange may depend on how fast you want to buy Bitcoin. Sometimes buyers may want to take advantage of a dip in prices.

  • Reputation: Reputation is key for crypto exchanges. Look at verifiable reviews from trusted third-party websites. Check out forums like Reddit and Discord to understand which exchanges are popular. This will help you weed out exchanges that have been hacked (unsecured), long account opening processes, and long deposit and withdrawal processes.

  • Geographical restrictions: Exchanges may not be available across all European countries. For instance, Coinbase is present in 40 out of the 44 countries in Europe. Investors should check whether their jurisdiction is supported.

  • Withdrawal limits: A majority of crypto exchanges have set daily and weekly withdrawal limits. This may affect investors who would wish to withdraw large sums.

  • Customer service: Getting help quickly is vital to any investor. For instance, help may be needed in case of delays during the withdrawal process. Such issues require prompt resolution for any investor. There are exchanges such as Kraken that excel at this and offer rapid customer support 24/7.

  • Language support: Since countries across Europe do not share a single language, it is prudent for any investor to check whether an exchange supports their national language.

  • Security: This is dual-faceted, as it demands protection for personal accounts and the crypto platform. Features like 2-factor authentication and the use of strong passwords prevent intrusion into individual accounts. Crypto exchanges provide prime targets for hackers and fraudsters. Funds and digital assets lost via fraudulent activities are hard to recover. Look out for exchanges that offer several layers of protection.

What Exchanges Are Available To Trade Bitcoin in Europe?

After carefully examining the factors above, below is a breakdown of the 5 best crypto exchanges in Europe.

Binance

Binance was established in 2017 and has soared up the crypto exchange rankings. It is the largest exchange globally in terms of trading volume. The exchange is available across most European countries. The platform supports trading of almost all digital assets, supporting upwards of 380 assets. It features tools and trading indicators that help both beginners and pros in trading.

Key features

  • Supports multiple crypto wallets

  • Android and IOS mobile trading app

  • Binance VISA cards

  • Considerable deposit and withdrawal options

  • Interactive charts to assist in trading

  • Binance coin (BNB) powers the ecosystem.

  • A whole ecosystem that includes a Binance academy, launchpad, derivatives, and P2P exchange.

  • Over the counter feature for bulk crypto-traders

Pros

  • Supports over 400 cryptocurrencies as well as altcoins and stablecoin

  • Low trade fees at 0.1%

  • Binance adds new digital assets quickly when launched

  • Supportive and responsive customer support

  • Incentivized trading through the use of Binance’s native BNB token

  • Excellent trading volume

Cons

  • Loosely regulated

  • Absence of transparency in the Binance team structure, coupled with the lack of a centralised headquarters

  • Not beginner-friendly

Although faced with some legal issues with derivatives trading in the EU, Binance continues to experience substantial trading volumes from the region. What makes Binance stand out is its strong reputation and low transaction fees. New users might find the exchange overwhelming, but we recommend trying it out. Binance easily outdoes other exchanges in their digital asset offering. Fees are also lower compared to exchanges like Coinbase and Kraken.

Coinbase

Coinbase is ranked the second-best crypto exchange based on user traffic, liquidity, and user confidence. Close to 3 million prospective investors and traders visit the site weekly. The platform supports a wide range of payment and withdrawal options for its European base including SEPA, Faster payments, and cryptocurrencies.

Key features

  • Secured with a variety of features, e.g., storing the coins offline

  • Insurance for all the cryptocurrencies held online by the exchange

  • Android and IOS mobile app with similar functionalities as the desktop app

  • Coin earn lets users earn crypto assets while learning about cryptocurrency through video classes

  • Staking rewards

Pros

  • A simple and intuitive user interface

  • A wide selection of cryptocurrencies

  • Multiple methods to deposit and withdrawal

  • The Coinbase Pro platform offers various trading tools and enhanced functionality.

  • Minimum deposits start at about $2 to fund the account and purchase Bitcoin.

Cons

  • Higher trading fees compared to exchange platforms like Binance.

Coinbase is hailed as the best crypto exchange for beginners, compared to exchanges like Binance. The platform has set up several layers of security such as an insurance policy, whitelisting, and 2-factor authentication. The features on the platform also compare with exchanges like Kraken and Gemini. The most popular trading pair on Coinbase for EU residents is BTC-EUR.

Kraken

Although it lacks regulatory approval in the EU, Kraken has been serving its European client base through the UK FCA license. Apart from chasing EU approval, the popular exchange also seeks local approvals in countries such as Luxembourg. Kraken is renowned for being a reliable and secure exchange, having never experienced any breaches since its launch in 2012. Fees per trade range from 0% to 2.6%.

Key features

  • High standard of security enforced by encrypting sensitive data and secure storage of coins and deposits.

  • Offers margins and future trading

  • Mobile App available

  • Fiat and crypto withdrawal

  • Good customer support

Pros

  • Offers a wide range of digital assets

  • Relatively low fees

  • Advanced trading functionality, such as futures trading

  • Credit and debit card deposits are available in Euros

Cons

  • An overload of features on the website may look complicated for beginners

  • Inefficient customer support

Kraken is available in all EU states. More than 2 million customers visit the platform weekly. EU customers can deposit and withdraw Euros from the exchange. Kraken compares favorably against other top exchanges in the EU in terms of security, advanced functionality, and customer support.

Kucoin

Kucoin users can buy, sell, and store cryptos. It is available across Europe and provides localised services for some countries. More than 8 million users are registered on the exchange, with high growth prospects in the short-medium term.

Key features

  • Advanced trading features including trading bots, crypto lending, futures, and margin trading

  • Android and IOS mobile app

  • Over 250 cryptocurrencies are available

  • A native token called KCS used to provide incentives on the exchange

  • A core trading engine capable of handling millions of transactions

Pros

  • Offers lower fees with trading fees at 0.1%

  • Allows investors to earn interest on their crypto

  • An excellent platform for expert investors with options for margins and futures trading

  • Offers a wide range of cryptocurrencies compared to a majority of exchanges.

  • Excellent asset management with security for your crypto asset - the exchange utilizes offline cold storage, insurance for cryptos, and partners like Onchain custodian, a crypto-security company.

  • Kucoin has high liquidity, enabling traders to complete their trades efficiently.

Cons

  • Low compliance to regulations

  • It can be complicated, especially for beginners.

  • Limited payment and withdrawal options

Kucoin aims to lead in the globalization of cryptocurrencies. Investors in Europe can easily open an account on the exchange and purchase Bitcoins. The low fees are comparable to Binance and Kucoin is centered on security like Kraken.

Gemini

Gemini offers a blend of features to cater to both experts and beginners. It also provides a peer-to-peer marketplace where Bitcoin buyers get matched with vendors. Fees on the platform range from €1 to 3.99% on debit card deposits, depending on the funding and trading method.

Key features

  • Crypto to crypto trading pairs

  • Gemini hot wallet available

  • Provides trading and analytical tools

  • Social and copy trading

  • Mobile app

Pros

  • Easy to use interface

  • High standards of security

  • Investors can earn interest on their Bitcoin

  • Investors can set up recurrent buys and dynamic price alerts.

Cons

  • Limited cryptocurrency selection, unlike Binance and Coinbase

  • Exposure to privacy due to KYC requirements, unlike Binance

Gemini is an exchange that features advanced trading features that expert buyers can use to set up different order types. The exchange looks to provide a balance for both novice and expert traders, unlike Coinbase. The fees, however, are less competitive compared to Binance and Kucoin.

How To Get Started With the Bitcoin Exchange in Europe?

Getting started with most exchanges is straightforward. The only process that may take substantial time is KYC verification. The following are the prerequisite before starting:

  • Government-issued ID (national ID, passport, driver’s licence)

  • Either a smartphone or computer with a connection to the internet

  • An email address and phone number connected to your phone

  • An updated browser, e.g., Firefox or Chrome

Follow the below steps to get set up to trade:

  • Open an account on a suitable exchange: This requires you to enter your email/mobile number and your password.

  • Verify your email or phone number: Use the email sent to you or SMS for account confirmation.

  • Verify your KYC information: Investors will have to enter their legal names, upload the ID, occupation, source of funds, etc. The exchange will carry out identity verification and approve your account.

  • Link a payment option: Connect your account with a way to deposit funds.

  • Specify the amount to spend: The exchange will display the number of Bitcoins, the fees and ask you to confirm the purchase.

Congratulations on your investment. We recommend setting up 2FA to secure your account further.

What Are the Options I Have To Buy and Sell Bitcoin in Europe?

Bitcoin is a lucrative trading asset due to its high volatility. Investors can use crypto exchanges, brokerage firms, and Contract for Differences (CFDs) trading platforms.

Brokerages

Brokerages typically manage the buying and selling of Bitcoin on your behalf. They act as intermediaries between the selling party (a market such as an exchange) and the buying party(investors). They also allow users to trade in a wide range of assets, EFTs, and CFDs.

Some of the standout brokers available in Europe are:

  • eToro - By far the most popular brokerage firm.

  • Plus500 - Offers competitive spreads.

CFD trading platforms

CFD trading platforms allow Bitcoin investors to speculate on the future value of Bitcoin without owning it. Investors can go big when they believe Bitcoin will rise in value or invest with a smaller amount when they speculate that the prices will fall. CFDs can be leveraged, meaning that your stake’s value is multiplied, which magnifies your profits or losses. CFDs trading platforms provide a wide array of trading and financial instruments. A good CFD trading platform will be regulated, have many payment options, trading tools (Charts, indicators, etc.), charge low fees, and low commissions.

Some of the popular CFD trading platforms in Europe are:

  • IG Trading platform: is regulated in Europe and offers a world-class trading platform complete with educational material. A major drawback is the high fees and commissions.

  • Avatrade: Offers CFDs and forex trading and is regulated in Europe. The platform is characterised by good educational materials for beginners and mobile trading.

Traders should note that trading using CFD platforms and brokers is a high-risk venture. It may lead to capital loss or exposure of personal data.

Do I Have To Pay Tax When Selling Bitcoin for Profit in Europe?

Governments may tax profits from the sale of Bitcoin when trades are frequent, as this is deemed as business income. If Bitcoin is held as an investment, then profits may be liable to capital gains tax. There is no single union law on taxation of profits from the proceeds of selling Bitcoin.

Examples of this would include:

  • Germany Bitcoin investors are exempted from capital gain tax if they hold the Bitcoin for less than a year, and the investment amount is below €600.

  • Belgium residents could be liable to pay capital gain tax on any profits they make off their Bitcoin sale. If the government considers the investor a professional trader, the income is regarded as a professional income, and the gains are taxable. There are no taxes for those investors who sell their Bitcoin as part of asset management.

  • In Switzerland, taxation on profits depends on whether the Bitcoin was private or business wealth. Individuals are exempted from paying taxes on profits unless trading is a form of employment for the investor and there is proof of regular trading. Businesses have to pay taxes on any gains from the sale of Bitcoin.

Conclusion

Those seeking to purchase Bitcoins in Europe have a wide range of exchanges to choose from. World-leading crypto exchanges are available in Europe, offering many cryptocurrencies, low fees, and simple ways to purchase Bitcoin. Selecting a crypto exchange for most people depends on the fees, liquidity, simplicity, and goals. Investors who want simple processes may choose Coinbase. Those who want a simple signup process, low fees, and advanced trading instruments may pick Binance. Investors who value the security of their Bitcoin may choose to use Kraken.

FAQs

What is an exchange?
Can I buy and sell Bitcoin with ID on exchange?
Are exchanges legal in Europe?
What is the difference between an exchange and a broker?
Amala Pillai

Amala Pillai

Amala is custom content and news editor based in London. She is a former financial journalist based in Singapore with 7 years of experience covering a range of business and financial topics. Now she focuses on crypto and macro-economics. She has also covered feature profiles, tech, business politics and ESG— she was the Environment Editor for the Solutions Newspaper, 2016 and worked in an editorial capacity at both News corp (Dow Jones) and JBN. She also has experience as a content creator, strategist and brand editor for various financial institutions and banks.