In Spain, diving into Bitcoin and other digital currencies starts with Bank of Spain-approved exchanges. You can easily fund your account in Euros using common payment methods such as SEPA transfers, internet banking, or credit and debit cards. We’ve explored the five best exchanges to trade crypto in Spain with, focusing on their reliability and trustworthiness. These platforms offer a solid starting point for those new to digital currency investments. Let’s see our picks for the best crypto exchanges in Spain to buy Bitcoin and other cryptocurrencies.
5 Best Crypto Exchanges In Spain In 2024
When hunting for the prime crypto exchange in Spain, there are various aspects to consider. These are like usability, the number of cryptos offered, security measures and some more. We will discuss these criterias after the suggested exchanges. And sure whatever you choose, you will be able to buy and sell the chosen crypto asset, or just buy one and store it for long term in your wallet. Let’s start with our number 1.
Uphold
The Uphold exchange started in 2015, and reached to serve over 150 countries with a user base exceeding 10 million. They offer over 250 digital assets, including cryptocurrencies, fiat currencies, precious metals, and environmental assets. Their design makes it great for beginners as it facilitates easy trading.
Uphold’s transparency in fees and security measures, including audited proof-of-reserves, guarantees protected funds and data for the user. You can use the exchange whether you are on the web, or using iOS or Android platforms.
Uphold also offers staking option, allowing users to earn up to 25% Annual Percentage Yield (APY). This presents a lucrative opportunity for beginners to generate passive income while learning the market.
Fees: their deposit is free, but they implement 1% trading fee, and the same for spread fee.
Assets: they offer over 250 digital assets, 27 different fiat currencies and 4 types of precious metals.
Deposit Methods: high variety of options like bank transfers, Google/Apple Pay, SEPA transfers, or credit/debit cards also are available.
Regulation & Licence: Uphold is registered with financial authorities in Lithuania and adheres to European regulations.
Binance
In Spain, Binance stands out as a popular choice for cryptocurrency enthusiasts. Their wide range of advanced trading products, including crypto options that offer deep liquidity makes it attractive for institutional investors. Binance’s massive user base is over 150 million. Their innovative feature allowing users to earn yields on more than 180 cryptocurrencies is the Binance Earn. This option is attractive for those looking to find new ways to generate passive income.
Binance adheres to the Spanish regulations through its local subsidiary, Binance Spain, S.L., which has obtained a VASP license from the Bank of Spain. This shows Binance’s reliability, making it a secure choice for Spanish investors. The platform’s unique services like Binance Earn, coupled with the commitment to regulatory compliance, makes it a good choice for diversifying investments and earning passive returns in Spain’s vibrant cryptocurrency market.
Fees: they charges 0.1% for spot trading and 0.06% for derivatives.
Assets: more than 350 cryptocurrencies.
Deposit Methods: bank transfers, debit and credit cards are accepted.
Regulation & Licence: in Spain they are regulated by Binance Spain, S.L., that has a VASP licence from the Bank of Spain.
eToro
eToro is a top-tier platform in Spain’s cryptocurrency market. Their userbase is over 30 million. eToro offers over 4,500 financial instruments. This selection includes top cryptocurrencies like Bitcoin and Ethereum, major stocks such as Coinbase and Microstrategy, and ETFs too, including the Blackrock Bitcoin ETF. With this supply, traders can create their own diverse portfolio through a singular, secure platform.
eToro certified as a virtual asset service provider (VASP) by the Bank of Spain and complies with the regulations of leading European authorities. This guarantee that eToro provides a safe and reliable trading environment for its users, both in Spain and globally. This safety, combined with the wide selection of financial instruments, makes eToro an attractive option for investors.
Fees: their typical fee is around 1%.
Assets: over 4,500 assets including from digital currencies to ETFs and stocks.
Deposit Methods: bank transfers, debit and credit cards are accepted, or internet deposits just like PayPal, Neteller or Skrill.
Regulation & Licence: in Spain they are regulated by Binance Spain, S.L., that has a VASP licence and strictly meets with CySEC and other European tier-1 regulators.
BitPanda
Bitpanda has made a big splash in Spain’s crypto scene, claiming the number four spot with its unique offerings from Austria. This company, rooted in Vienna and following Austria’s strict financial rules, knows how to meet the needs of Spanish investors. It brings a lot to the table, like over 3,000 different cryptocurrencies, shares, ETFs, and safe options for staking.
To fit in with Spain’s rules, Bitpanda has done its homework and is now recognized by the Bank of Spain for trading cryptocurrencies and keeping digital assets safe. It’s easy for people to put euros into their accounts, thanks to the many ways Bitpanda works with big European banks. With a wide range of investments, including well-liked shares and ETFs, Bitpanda stands out in Spain’s crowded market.
Fees: their trading fee is set at 0.2%.
Assets: over3000 assets including from digital currencies to ETFs and stocks.
Deposit Methods: bank transfers, debit and credit cards, and SEPA transfer are all accepted.
Regulation & Licence: in Spain they are registered as a virtual currency exchange and digital asset custody service provider with the Bank of Spain.
ByBit
Bybit is perfect for expert traders. It’s a go-to for various trading needs, like futures or options. With a big lineup of over 770 digital assets, Bybit makes it easy for Spaniards to get started, especially with simple ways to deposit Euros. It’s praised for strong security and an easy-to-use interface.
Bybit isn’t just about regular crypto trading; it offers futures with up to 25x leverage and is getting into the NFT world. This mix appeals to those looking for different crypto investments in Spain. With low fees, top-notch security, and over 10 million users, Bybit is a reliable choice for investors.
Fees: their taker fee is 0.06%, while their maker fee is 0.01%.
Assets: over 770 digital assets.
Deposit Methods: for EUR deposit they offer Advcash Wallet, SEPA transfer, bank transfer, debit and credit cards and even Zen.com.
Regulation & Licence: in Spain they have a licence from CySEC and are available to investors.
What To Consider As A Regular Exchange User?
A user-friendly interface is vital, especially for newcomers to the crypto world. Meanwhile, veteran traders should seek platforms offering sophisticated functionalities like complex order types and tools for tax reporting.
Exchanges demonstrating robust security, including two-factor authentication, extensive cold storage (preferably over 95%), and additional precautions such as daily offsite backups and third-party security evaluations, are paramount. This ensures your digital assets are well-protected.
Trading on an exchange that adheres to strict regulations and offers depositor’s insurance provides a safety layer, particularly during unfavorable market shifts. This ensures your investments are secure.
The excellence of an exchange’s customer service is critical. We focus on the availability of support channels, response efficiency, and the relevance and helpfulness of the support provided, along with user feedback on their experiences.
If You Are a Trader
Top Spanish exchanges boast a broad selection of cryptocurrencies, not just the heavy hitters like Bitcoin, Ethereum, and Dogecoin, but also a diverse range of at least 20 to 30 other coins. Regularly adding new coins signals a customer-centric and progressive platform.
With all exchanges imposing certain fees—ranging from trading commissions to bid-ask spreads—I prioritize those with more affordable rates to enhance your investment gains.
An ideal exchange offers multiple deposit and withdrawal methods, including bank transfers, debit/credit cards, and PayPal, among others. This flexibility facilitates effortless fund management.
How To Buy Crypto And Bitcoin In Spain?
If you want to buy Bitcoin in Spain or other cryptocurrencies, follow our guide to do it safely and within the law:
First choose an exchange that follows Spain’s financial laws, overseen by either the National Securities Market Commission (CNMV) or the Bank of Spain. Next, set up and verify your account. This involves registering with your email, creating a secure password, and completing the Know Your Customer (KYC) process, which includes providing identification and proof of address.
After registering your account is ready to add funds. You can do this through SEPA transfer, Spanish online banking, traditional bank transfers, or using a debit/credit card. Now you are ready to buy cryptocurrencies. Just pick the one you want, decide how much you want to spend in EUR or the equivalent amount in crypto, and confirm your purchase.
Lastly, by using a personal crypto wallet you can store your coins in safe. For a detailed overview about wallets, click here. Following these steps and choosing a reliable, law-abiding exchange will allow you to buy cryptocurrencies in Spain confidently and securely. Always keep your personal and wallet information safe.
Crypto Taxes in Spain and Regulatory
Cryptocurrencies status is legal in Spain but is not recognized as legal tender, with its regulation primarily overseen by the National Stock Market Commission (Comisión Nacional del Mercado de Valores, CNMV) and the Bank of Spain. Cryptocurrencies may be considered either securities during public offerings or commodities in individual trades. The regulation extends to providers of crypto-to-fiat exchanges and custodial services under anti-money laundering laws. The CNMV also ensures adherence to the European Commission’s MiCA regulation, while the Bank of Spain keeps a registry of Virtual Currency Service Providers.
Regarding taxation, the Agencia Tributaria (Spanish Tax Agency) mandates that cryptocurrency gains be taxed as savings income under the Personal Income Tax (PIT), with rates between 19% and 26%. Additionally, income from mining is taxed as freelance business activities, and staking rewards are treated as investment income, following similar taxation rates. Crypto assets are also subject to Wealth Tax, which varies based on regional laws and the total value of the crypto assets. Starting from 2023, Spanish taxpayers with crypto holdings worth over €50,000 abroad are required to report these holdings using Model 721.
