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Best Crypto Exchanges in Europe

Crypto Nerd

April 29, 2024

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Are you a crypto trader or investor based in Europe? Look no further! Europe is home to some of the best crypto exchanges that cater to your needs while prioritizing the security of your funds. With so many options available, it can be overwhelming to choose the right platform. That’s why we’ve done the research for you and compiled a list of the best crypto exchanges in Europe.

When it comes to selecting a crypto exchange, it’s crucial to consider certain factors such as security measures, fees, user interface, and available trading pairs. Our selection of the best crypto exchanges in Europe takes all of these factors into account, ensuring that you have a reliable and safe platform to trade on.

1.OKX

Regulated in Europe: Not yet
EUR Payment methods: Visa, Mastercard, Bank transfer, and Apple Pay
Minimum deposit: 10 USDT for crypto

OKX isn’t your average crypto exchange. Based in the Seychelles, it provides a vibrant ecosystem for trading, investing, and expanding your crypto knowledge. Choose from spot and futures markets, delve into DeFi, experiment with lending and borrowing, or even mine cryptocurrencies.

Committed to growth, OKX is actively seeking licensing in France, signaling a strong push into the European market. Plus, the OKX NFT Marketplace grants access to the thrilling world of digital collectibles.

Pros of OKX

• Global reach with a strategic focus on European expansion
• Multi-faceted platform for diverse crypto interactions
• Fiat currency flexibility (43+) including EUR
• Beginner-friendly features

Cons of OKX

• Trading pairs might be less extensive than some competitors
• European regulatory framework still in progress

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2.ByBit

• Regulated in Europe: No
• EUR Payment methods: SEPA and TrueLayer
• Minimum deposit: No minimum crypto deposit

Bybit stands out as a leading European copy trading platform for crypto enthusiasts. Dive into spot and futures trading with a vast selection of over 400 coin pairs. Looking for passive income? Bybit also offers enticing staking options to earn rewards on your holdings.

Depositing funds just got easier for European customers thanks to Bybit’s partnership with TrueLayer. Enjoy seamless and secure transfers directly from your bank account using SEPA Transfer or other convenient online banking methods. Rest assured, Bybit prioritizes the security of your funds with robust measures like 2FA, anti-phishing codes, fund passwords, and secure cold storage.

Pros of Bybit

• User-friendly copy trading ideal for beginners
• NFT Marketplace for digital art exploration
• Prioritizes security for peace of mind
• Responsive customer support team
• Simplified deposit process for European users

Cons of Bybit

• Limited support for low market cap coins
• Copy trading involves profit sharing (up to 10%)

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3.Binance

• European Regulation: Licensed in Lithuania for secure trading.
• EUR Payment Options: Conveniently use SEPA, P2P, and Debit cards.
• Minimum Deposit: Start with a €50 minimum bank deposit.

With a presence in 19 European countries and over 1200+ digital currencies available for trading, Binance is a top choice for crypto traders of all levels.

Beyond trading, Binance offers a range of services for crypto enthusiasts, including Binance Earn for passive income, the Binance NFT Marketplace, Binance Pay for easy transactions, and more. The platform also provides advanced trading tools such as futures, margin, lending and borrowing, copy trading (through third-party platforms like 3Commas, Cryptohopper, or WunderTrading), and automatic DCA.

As a licensed exchange in France, Binance follows European regulations and offers various deposit and withdrawal options in Euros (EUR), such as SEPA transfers and cards. Additionally, Binance has its own chain, the BNB Chain, which supports smart contracts, dApps, and cross-chain compatibility, enabling users to swap crypto in a decentralized manner via Binance DEX.

Security is a top priority for Binance, and the platform employs advanced security measures and encryption to protect user data and funds. Binance has a SAFU (Secure Asset Fund for Users) fund that holds 10% of all trading fees in a separate wallet to cover emergencies.

Pros of Binance

• Cost-Effective Trading: Enjoy low transaction fees of only 0.1%.
• Diverse Market: Access a vast selection of cryptocurrency pairs.
• DeFi Integration: Utilize a multi-currency DeFi wallet for flexibility.
• Beginner and Expert-Friendly: Trade confidently with tools for all experience levels.
• Robust Market: Benefit from high trading volume and liquidity.

Cons of Binance

• Regulatory Challenges: The exchange has encountered legal hurdles in certain jurisdictions.
• Complexity for Newcomers: Advanced features may be overwhelming for beginners.

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4.Kraken

• European Compliance: Regulated in the UK and Lithuania.

• EUR Deposit Methods: SEPA, Bank transfer, SWIFT supported.

• Minimum Deposit: Get started with just €10 (bank deposit).

Kraken is a prominent global crypto exchange that operates in Europe, providing access to over 200 cryptocurrencies and seven fiat currencies, including the Euro (EUR). The platform offers both a simple and a pro version to cater to different types of investors. Kraken Pro offers additional trading options such as margin trading, futures trading with high leverage, setting orders, and more. The UK’s FCA regulates futures trading, and it is available in Europe.

Kraken Pro also features an OTC desk, which allows users to trade large amounts (minimum $100,000) privately and quickly. The OTC desk provides competitive exchange rates and deep liquidity for many digital and EUR fiat pairs.

In addition, Kraken enables users to lend Bitcoin, Ethereum, USDT, and more, with the potential to earn up to 17% annually, depending on the asset and market conditions. Staking can also earn users up to 12% APR.

Pros of Kraken:

• Largest Euro-based crypto exchange with low spreads and high liquidity
• Products and services catering to all levels of investors, including mobile, pro, and futures
• Trusted and secure platform for crypto trading since 2011
• Regulated by multiple authorities in different regions

Cons of Kraken:

• Relatively high trading fees
• Complex and lengthy account verification process
• Limited support for newer and low-market-cap cryptocurrencies.

Overall, Kraken is a reliable and well-regulated crypto exchange that caters to both individual and institutional investors seeking access to a wide range of cryptocurrencies and trading services. Its high liquidity and low spreads make it an attractive choice for traders seeking a stable and secure platform for their crypto trading activities. However, the high trading fees and complex account verification process may be a downside for some users.

5.Coinbase

• European Compliance: Regulated for secure trading in the UK, Germany, and Ireland.
• EUR Payment Flexibility: Deposit with SEPA Transfer, Debit Card, PayPal, Apple Pay, Google Pay, Sofort, or iDeal.
• Low Entry Point: Begin with a minimum bank deposit of €50.

Coinbase is a prominent crypto exchange that operates in over 30 European countries and adheres to local regulations and standards. It has established offices in Dublin, London, Berlin, and Paris.

The platform provides a user-friendly web and mobile app for buying, selling, and securely storing Bitcoin, as well as earning rewards and learning about the crypto market. With support for over 240 cryptocurrencies and 40 fiat currencies, Coinbase offers a wide range of trading options for users.

One of the unique features of Coinbase is its Web3 profile, which allows users to customize their profiles with an ENS username. The platform also has a Coinbase Pro version that offers real-time order books, charts, low fees, and high liquidity.

Coinbase Wallet is a non-custodial decentralized wallet that supports thousands of digital assets and collectibles, including NFTs. It also offers features such as staking, swapping, lending, and borrowing, making it an ideal choice for users seeking a comprehensive crypto wallet solution.

In addition, Coinbase recently introduced Coinbase Prime, a new feature specifically designed for institutional investors. It offers custody, trading, lending, staking, analytics, and prime brokerage services, as well as access to Coinbase’s global liquidity pool and top-notch security.

Overall, Coinbase is a reliable and user-friendly crypto exchange that caters to a wide range of users, from individual investors to institutional traders. Its extensive range of features, including support for a wide variety of cryptocurrencies, customizable Web3 profiles, and a comprehensive decentralized wallet solution, make it an attractive choice for users seeking a one-stop shop for their crypto trading needs.

Pros of Coinbase:

1. Reputation: Coinbase is a well-established and highly reputable crypto exchange with strong compliance and risk controls. This makes it a safe and secure platform for trading digital assets.
2. User-friendly interface: Coinbase has a simple and intuitive interface that is easy to use, even for beginners. This makes it an attractive option for those who are new to crypto trading.
3. Perpetual futures trading: Coinbase offers perpetual futures trading for Bitcoin (BTC) and Ethereum (ETH), with a fast API and rewards for liquidity providers. This allows traders to take advantage of price movements in the crypto market and potentially earn profits.
4. Variety of digital assets: Coinbase supports a wide variety of digital assets, including Bitcoin, Ethereum, Litecoin, and many others. This gives traders plenty of options to choose from when it comes to buying and selling crypto.

However, there are also some disadvantages to consider:

Cons of Coinbase:

1. Limited settlement options: Coinbase only supports USDC for perpetual futures settlement. This can be limiting for traders who prefer to use other stablecoins or fiat currencies.
2. High fees: Coinbase charges higher fees compared to some other exchanges. This can eat into traders’ profits, especially for those who trade frequently.
3. Regulatory challenges: Coinbase faces regulatory challenges in some European markets, which can impact its operations and potentially create uncertainty for traders.

Our Methodology for Evaluating European Crypto Exchanges

Choosing the best crypto exchange in Europe can be a daunting task, given the plethora of options available. Here’s a step-by-step methodology to help you make an informed decision:

1. Verify Regulatory Compliance: Before selecting a crypto exchange, ensure it complies with relevant European regulations. Look for exchanges registered with regulatory bodies such as the UK’s Financial Conduct Authority (FCA) or Germany’s BaFin.
2. Evaluate Security Measures: Security should be a top priority when selecting a crypto exchange. Look for exchanges that implement robust security measures, including two-factor authentication (2FA), cold storage for funds, encryption protocols, and regular security audits. Check the exchange’s security breach history and notable security features.
3. Assess the Number of Supported Cryptocurrencies: Consider the range of cryptocurrencies offered by the exchange. Ensure it supports the coins you are interested in trading or investing in. Popular exchanges usually support around 200+ crypto pairs, including Bitcoin (BTC), Ethereum (ETH), and other well-established altcoins.
4. Examine Trading Fees: Analyze the fee structure of the exchange. Look for transparent fee policies with competitive rates. Some exchanges charge a percentage of the transaction value, while others have a fixed fee per trade. Consider deposit and withdrawal limits, which can impact your trading strategy. Exchanges with trading fees of 0.1% or lower are considered reasonable.
5. Assess Liquidity: Liquidity refers to the ease of buying or selling assets. Higher liquidity generally leads to tighter spreads and better execution of trades. Check the exchange’s trading volume and order book depth to assess its liquidity. Popular exchanges with high trading volumes tend to have better liquidity. You can use Coinmarketcap to check exchanges’ liquidity and volume. A liquidity number above 500 is considered good.
6. Evaluate User Experience and Interface: A user-friendly interface is crucial for a smooth trading experience. Exchanges with intuitive platforms, easy navigation, and responsive customer support are easy to use. Also, consider if the exchange offers mobile applications for convenient trading.
7. Assess Customer Support: Analyze the customer support options provided by the exchange. The platforms must offer multiple channels for support, such as email, live chat, or telephone. Prompt and helpful customer support can be crucial in resolving issues and providing assistance when needed.
8. Research Reputation and Reviews: Investigate the reputation of the exchange. Read user reviews, forums, and news articles. Look for exchanges with a positive track record, reliable service, and good customer feedback. You can read TrustPilot or Play Store reviews for a better understanding. Be cautious of exchanges with a history of complaints, hacks, or security breaches.
9. Check Deposit and Withdrawal Options: Evaluate the exchange’s deposit and withdrawal options. Check if the exchange supports fiat currency deposits (e.g., Euros). Additionally, consider the withdrawal process and any associated fees or delays.
10. Confirm Geographical Availability: Confirm that the exchange is available in your country. While many exchanges serve a global audience, certain cryptocurrency exchanges have restrictions on specific regions. Ensure that the exchange accepts users from your country and complies with local regulations.
11. Assess Solvency and Financial Stability: The exchange should provide information about their reserves and financial audits. Consider factors such as the exchange’s profitability, capital gains, and ability to handle large trading volumes. Also, consider their ability to handle unexpected market fluctuations. You can check the exchange reserve funds data on Defillama.

How do I buy cryptocurrency in Europe?

Getting Started with Crypto in Europe

1. Choose Your Exchange: Find one that supports EUR and your preferred payment method (SEPA, debit card, PayPal, etc.).
2. Create and Verify: Sign up for an account. You’ll likely need to provide ID (passport, etc.) and proof of address.
3. Deposit Funds: Select your payment method and add Euros to your exchange account.
4. Select Your Crypto: Browse the available cryptocurrencies and decide what you want to buy.
5. Place Your Order: Enter the amount you’d like to spend and confirm the purchase. Your crypto will arrive in your exchange wallet.

Top European Crypto Exchanges

Based on our analysis, here are three excellent options:

• OKX: Versatile platform with good fiat support.
• Bybit: Strong on copy trading and security.
• Binance: Huge market with advanced features.

Important Considerations

• Coinbase: Popular choice, especially for beginners.
• Legal and Tax: Be sure to research the specific regulations and tax implications for cryptocurrency in your EU country.

Frequently Asked Questions – FAQs