Top 10 Best Crypto Exchanges in Europe

If you are residing in Europe, you are in a great position! The continent hosts some top cryptocurrency exchanges. They are suitable for traders and investors. But, you must choose an exchange that prioritizes security. It must protect your funds. So how do you choose the right platform that meets your requirements? What factors should you take into account?

I'm CEO David Wabinz, founder of  DavidWabinz.com. In this article, I will give suggestions on the 10 best trading floors in Europe. You should consult and make your own decision.

Is cryptocurrency legal in Europe?

Many European countries do not explicitly outlaw cryptocurrency use. But, the EU and its member states are adding rules to oversee it.

The European Council introduced the Markets in Crypto-Assets (MiCA) Regulation in October 2022. MiCA is scheduled to take effect in 2024. It is designed to boost investor protection and set strict rules for exchanges. But, it also aims to foster innovation in digital assets.

MiCA says that companies providing crypto services in the EU must get approval. They must get it from national financial regulators. They must also share detailed white papers for public crypto offerings. This regulation adapts EU securities trading rules to cryptocurrencies. It includes measures against market manipulation and insider trading. It also tackles stablecoins hard. They need to have lots of reserves and strong governance. This is especially true for widely used tokens.

MiCA brings legal clarity. It encourages involvement from traditional finance with cryptocurrencies. But, it also imposes strict compliance rules. Breaking them leads to big penalties. The regulation's reach goes beyond Europe. It could create global benchmarks. It could shape rules in other places.

Best Crypto Exchanges in Europe

1. Bybit

Bybit is the top among Europe's leading cryptocurrency exchanges. It is especially popular among traders dealing in derivatives. Bybit is famous for its many assets and user-friendly features. It appeals to both beginners and institutional investors. A notable perk is its efficient and free SEPA deposit options. They greatly help clients who deal in Euros (EUR). It offers over 1,000 digital assets. The platform serves many investment preferences.

In addition to its many altcoins, Bybit is great at futures trading. It offers leverage up to 25x and includes staking. This broadens investing opportunities in Europe. Its fee structure is competitive. The maker fee is 0.01% and the taker fee is 0.06%. The fees, plus strong security, make Bybit a top choice for European investors. Bybit has over 10 million users worldwide. It is famous for its reliable service and broad offerings.

2. BingX

It was once known as BingBon. Since 2017, BingX has been Taiwan's top leverage trading platform. Today, BingX is a fully licensed and legal exchange service. It is expanding into more European countries, including Italy and Ukraine. It now operates in over 100 countries worldwide. BingX opened a licensed cryptocurrency trading branch office in Lithuania on April 22. It offers European users an established opportunity.

This expansion was further bolstered by entering English-speaking countries in 2020. BingX now holds four operating licenses. One is from the European Union. These let it operate legally across Europe. The platform aims to create an open, inclusive cryptocurrency market. It will serve investors worldwide. It will do so regardless of gender.

3. MEXC

MEXC was established in 2018 and is based in Seychelles. It holds an Estonian MTR license. This lets it offer services in over 170 countries, including many in Europe. The platform offers many types of trading. These include spot, margin, and futures trading. They also include staking and Initial Exchange Offerings (IEOs). This appeals to a broad audience of digital asset investors.

MEXC is renowned for its extensive cryptocurrency portfolio, boasting over 300 digital assets. It adapts to new market trends. The platform updates its offerings with new assets and features. It also has the native MX token. Also, MEXC has a user-friendly mobile app and multilingual support. It has a tiered trading fee structure from 0.00 % to 0.06%. These features make MEXC popular among traders.

4. Bitget

Bitget is in the growing cryptocurrency landscape of Europe. It is the preferred platform for enthusiasts and traders. Its easy-to-use interface and strong focus on security have drawn many users. Its leveraged trading options have also been popular. This has given it a big market share in Bitget France and Bitget Germany.

Bitget operates by local and global laws and rules. It is expanding into the European Union (EU). The expansion happened as the EU worked to implement groundbreaking cryptocurrency rules. They are called the Markets in Crypto-Assets (MiCA) regulation. The EU Council and Parliament recently approved them. They are expected to start in July 2024.

Gracy Chen is the CEO of Bitget. She said, “Our recent registrations in two European countries have boosted our presence and offerings in Europe.” Bitget aims to work with EU and global policymakers and regulators. They aim to make it easy to access cryptocurrencies. They want to do so safely and responsibly while following the rules.

5. Binance

Binance is a top cryptocurrency exchange. It serves traders in 19 European countries. Binance offers a vast selection of over 350 digital currencies for trading. It also offers a full set of services made for crypto enthusiasts. These include Binance Earn, Binance NFT Marketplace, and Binance Pay. They offer a wide range of options to meet traders' needs.

Also to its many services, Binance offers advanced trading tools. These include futures, margin trading, lending, and borrowing. There's also copy trading. It needs integration with third-party platforms like 3Commas, Cryptohopper, or WunderTrading. And there's automatic DCA (Dollar Cost Averaging).

Binance operates according to European regulations. It holds a license from France. This allows it to operate in Europe. The exchange helps with deposits and withdrawals in euros (EUR). It accepts them through SEPA transfer and card payments.

Binance also has its own blockchain ecosystem. It's called the BNB Chain. It enables smart contracts, decentralized applications (DApps), and interoperability across different blockchains. Users can use the Binance DEX to swap cryptocurrencies in a decentralized way. This gives added flexibility and security.

Binance focuses on security. It uses strong encryption to protect user data and funds. Additionally, the exchange has a SAFU (Secure Asset Fund for Users) fund. It sets aside 10% of all trading fees in a separate wallet. This money is for any unforeseen emergencies. It makes sure that user assets are safe.

6. Kucoin

KuCoin was established in 2017. It is a major global cryptocurrency exchange. It is known for its easy interface and advanced trading features. These qualities have given it a strong reputation in the industry.

KuCoin operates in many European countries. These include the United Kingdom, Germany, France, Spain, and Italy. It gives European traders seamless access to the crypto market. It helps them take part in cryptocurrency trading.

KuCoin offers many cryptocurrencies for trading. They include popular tokens like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many others. The catalog has over 700 cryptocurrencies. Users have many chances to diversify their investments and find new ways to grow them.

7. OKX

OKX is a cryptocurrency exchange registered in Seychelles. It offers a platform where you can trade, earn, and expand your cryptocurrency portfolio.

The platform provides access to a diverse array of tokens and markets, including spot and futures trading. Also, users can enter the realm of decentralized finance (DeFi). They can borrow and lend crypto and even mine cryptocurrency.

Notably, OKX enjoys global popularity and is now extending its presence in Europe. With plans to obtain licensing in France, the exchange is poised for further growth in the region. Also, OKX NFT Marketplace enables users to trade digital artworks. This adds another aspect to its offerings.

8. Kraken

Kraken is a major cryptocurrency exchange based in Europe. It offers access to over 200 cryptocurrencies. It supports seven fiat currencies, including the Euro (EUR).

The platform offers both a simple and a pro version. It serves different types of investors. Kraken Pro enhances trading. It offers features like margin and futures trading with high leverage and advanced orders. Moreover, the UK's Financial Conduct Authority (FCA) regulates and approves Kraken's futures trading. This ensures compliance and safety for European users.

Kraken Pro also has an OTC (Over-the-Counter) desk. It lets users trade large volumes privately and efficiently. The minimum is $100,000. The OTC desk provides good exchange rates and lots of liquidity. It offers them for various digital and EUR fiat pairs. This helps institutional and high-volume traders make transactions easily.

9. Bitstamp

Bitstamp is a European cryptocurrency exchange. It was established in 2011. It allows the trading of fiat currency, Bitcoin, and other cryptocurrencies. Initially conceived as a European counterpart to the prominent bitcoin exchange, Mt. Gox, Bitstamp has since evolved into a reputable platform in its own right.

The exchange streamlines money transfers in Europe. It only accepts free deposits in fiat currency through the European Union's Single Euro Payments Area (SEPA). This feature makes it easier to transfer funds between European bank accounts. It adds convenience for users across the continent.

10. Coinbase

Coinbase operates in 30+ European countries. It follows local rules and standards. It has offices in Dublin, London, Berlin, and Paris.

The platform provides web and mobile apps. They let users buy and sell Bitcoin. It offers access to over 240 cryptocurrencies and 40 fiat currencies. Also, users can personalize their profiles using the Web3 profile feature. It lets them create unique profiles with an ENS username.

Coinbase also offers a professional version called Coinbase Pro. It has real-time order books, advanced charts, low fees, and high liquidity. For those who want more control, Coinbase Wallet is non-custodial and decentralized. This wallet supports thousands of digital assets and collectibles. It also has features like staking, swapping, lending, borrowing, and buying and selling NFTs.

Is Cryptocurrency Taxed in Europe?

Taxes on cryptocurrency in the European Union (EU) vary a lot across member states. Each nation has its own rules. Crypto assets are generally subject to capital gains tax or income tax. They can also be subject to a mix of both. The tax depends on how they are used and the laws in each place.

For example, in Germany, the Federal Central Tax Office (Bundeszentralamt für Steuern) sees cryptocurrencies as private money. People may get tax exemption on long-term gains from crypto investments held for more than a year. In France, it's different. The General Directorate of Public Finances (Direction Générale des Finances Publiques) imposes a flat tax rate on crypto gains. But, income from professional trading is subject to income tax.

Investors must ask their local tax authorities for advice. They need to do this to understand the specific tax impacts of cryptocurrency transactions in their EU countries.

How to buy crypto in Europe?

You can use the exchanges I just listed to buy cryptocurrency in Europe. Here are detailed instructions on how to proceed:

• Choose a famous cryptocurrency exchange in Europe. It follows local rules and is managed to ensure security.
• Create an account. Then, provide the necessary personal information and meet the exchange's verification requirements.
• Deposit money to your account by money transfer. Consider potential bank limits on cryptocurrency transactions with European exchanges.
• Once your account is funded, buy the cryptocurrency you want on the exchange.

FAQ

Is it safe to buy Bitcoin in Europe?

Buying Bitcoin in Europe can be considered safe if you follow best practices and choose a reputable exchange.

Can I buy Bitcoin in Europe?

Certainly, there are multiple avenues to purchase Bitcoin in Europe, ranging from cryptocurrency exchanges to Bitcoin ATMs.

What is the best European crypto exchange to buy Bitcoin?

Determining the best cryptocurrency exchange for purchasing Bitcoin is subjective and depends on various factors. However, we've compiled our top 10 recommendations based on usability, safety, and fees: Bybit, BingX, MEXC, Bitget, Binance, Kucoin, OKX, Kraken, Bitstamp, and Coinbase.

What’s the cheapest crypto exchange with the lowest fees in Europe?

Currently, Bitstamp stands out as the most affordable cryptocurrency exchange in Europe, offering maker fees ranging from 0.00% to 0.06% and taker fees from 0.006% to 0.08%.

What are the most popular cryptocurrencies for trading in Europe?

Among the most favored cryptocurrencies for trading in Europe are: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Tether (USDT), and XRP (XRP).