Best Crypto Exchanges Finland

Discover the legality of crypto in Finland, its regulation by the FIN-FSA, tax obligations, and the best crypto exchanges available.

Bottom Line: Finnish investors seeking a reliable cryptocurrency exchange should prioritize those that comply with the country's regulatory guidelines. To guide them, our team has meticulously examined the prominent options available in Finland, pinpointing the top five using diverse criteria. These exchanges were scrutinized for their strong security measures, support for Euro deposit methods like bank transfers and card payments, their fee schedules, and essential features.

After an extensive evaluation, we have compiled a summary of the top 5 cryptocurrency exchanges in Finland that align with the regulations set forth by the Finnish Financial Supervisory Authority (FIN-FSA):

  1. eToro (Best Overall Exchange in Finland)
  2. Uphold (Best for Staking Cryptocurrency)
  3. Bybit (Best Derivatives Trading Platform)
  4. Binance (Best for Investing in Altcoins)
  5. NorthCrypto (Best Finnish Crypto Exchange)
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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Best For:
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Rating:
5
out of 5

eToro is the best platform for crypto investors in Finland due to its extensive selection of assets, competitive fee structure, user-friendly interface, and regulation by the European Securities and Markets Authority (ESMA).

Best Crypto Apps in Finland

‍Our experts have employed a comprehensive evaluation process to determine the foremost exchanges in Finland. We meticulously assessed each platform, concentrating on key aspects such as compliance with Finnish Financial Supervisory Authority (FIN-FSA) regulations, EUR deposit options, customer support, fee structures, and a range of trading functionalities. After thorough research and analysis, we have selected the top five cryptocurrency trading platforms operating in Finland.

1. eToro

eToro is the top choice for Finnish investors, providing a comprehensive selection of over 70 cryptocurrencies and 3,000 stocks, ETFs, commodities, and other assets for trading. This means that investors have access to both tokens like Bitcoin and Ethereum, as well as crypto-related stocks like Coinbase and Microstrategy. Regulated by the Cyprus Securities and Exchange Commission (CySEC), it ensures a secure and reliable trading experience for users in Finland.

eToro's competitive fee structure, which includes free deposits and withdrawals and industry-leading spreads, sets it apart from other exchanges. Additionally, Finnish users benefit from its user-friendly platform, 24/7 customer support, and multiple EUR deposit options, such as bank transfer, credit/debit cards, and e-wallets. As a global exchange, it can be used entirely in Finnish and English.

  • Minimum Deposit: 50 EUR.
  • Supported Tokens: 70+ Cryptocurrencies & 3,000 other assets.
  • Regulatory Compliance: Regulated by the Cyprus Securities and Exchange Commission (CySEC).
  • EUR Funding Method: Bank or SEPA Transfer, Debit Card, Credit Card, Sofort (Klarna), and more.
eToro Finland

2. Uphold

Uphold stands out in the Finnish cryptocurrency market for its diverse selection of digital assets and staking opportunities. Based in London, the platform supports over 250 cryptocurrencies and 100+ additional assets to trade in a regulated environment overseen by the Financial Conduct Authority (FCA). Uphold's dedication to protecting customer funds is evident through its audited proof-of-reserves, making it a highly secure option for investors in Finland.

The platform offers various convenient EUR deposit methods, including bank transfer, SEPA, credit/debit card, Google Pay, and Apple Pay. Uphold also features a user-friendly interface and provides 24/7 customer support through live chat and email. A 2.49% fee is applied to card deposits, while other deposit methods are free. Crypto trading fees on Uphold range from 0.8% to 1.2%, offering competitive rates in comparison to other exchanges.

  • Minimum Deposit: 50 EUR.
  • Supported Tokens: 250+ Cryptocurrencies & 100+ other assets.
  • Regulatory Compliance: Regulated by the Financial Conduct Authority (FCA).
  • EUR Funding Method: Debit/Credit Card, SEPA, Google/Apple Pay, & Bank Transfer.
Uphold

3. Bybit

Bybit is recognized as the top choice for derivatives trading in Finland, ranking third overall among crypto platforms. Its advanced trading platform, known for high liquidity, competitive fees, and leveraged trading options, attracts experienced traders seeking fast execution and anonymity. It is also praised for its exceptional user experience on both web and mobile platforms and its transparent proof of reserves, which shows that all assets are held on a 1:1 basis.

With a strong commitment to user privacy, Bybit implements cutting-edge security measures. It supports over 940 cryptocurrencies to trade on spot, futures, and options markets with competitively low fees. It also provides free and instant EUR deposits, making it perfect for Finnish investors seeking an affordable investing experience. Besides trading, it offers staking services and crypto loans allowing users to lend or borrow assets for a high yield.

  • Minimum Deposit: 20 EUR.
  • Supported Tokens: 940+ Cryptocurrencies.
  • Regulatory Compliance: Registered in Finland.
  • EUR Funding Method: Bank Transfer, Zen, SEPA Transfer, Credit Card, Debit Card, Google Pay, Maestro, and more.
Bybit Finland

4. Binance

Binance is the largest global cryptocurrency exchange offering a comprehensive selection of over 350 cryptocurrencies, including assets across popular sectors like DeFi, GameFi and the Metaverse. The platform is recognized for its diverse features, such as spot trading, derivatives trading, and crypto options trading. Binance also offers a competitive fee structure, with fees starting at 0.1% for spot trades and 0.06% for derivatives contract trading.

Binance is not currently regulated by the Finnish Financial Supervisory Authority (FIN-FSA) but they are available to investors in Finland.  Despite any rumors or news, the exchange maintains its trustworthiness and continues to deliver a reliable user experience for Finnish customers, even after the departure of Changpeng Zhao.

  • Minimum Deposit: 10 EUR
  • Supported Tokens: 350+ Cryptocurrencies
  • Regulatory Compliance: Not licensed by the FIN-FSA.
  • EUR Funding Method: Bank Transfer, SEPA, Credit Card, Debit Card, MobilePay, and more.
Binance

5. NorthCrypto

NorthCrypto is a reputable Finnish cryptocurrency exchange known for its focus on the local market and its user-friendly platform. The exchange supports a variety of popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, making it an attractive option for Finnish investors.

Regulated by the Finnish Financial Supervisory Authority (FIN-FSA), NorthCrypto ensures a secure trading environment and compliance with local regulations. Its competitive fee structure, with trading fees starting at 0.25% and decreasing with higher trading volumes, appeals to both new and experienced traders. The platform offers a straightforward onboarding process and provides various EUR deposit methods, such as bank transfer and SEPA.

  • Minimum Deposit: 50 EUR.
  • Supported Tokens: 30 Cryptocurrencies.
  • Regulatory Compliance: Regulated by the Finnish Financial Supervisory Authority (FIN-FSA).
  • EUR Funding Method: Bank Transfer & SEPA.
NorthCrypto Finland

How Does FIN-FSA Regulate Crypto?

The regulation of cryptocurrencies falls under the oversight of the Finnish Financial Supervisory Authority (FIN-FSA) and the Ministry of Finance. All exchanges and wallet providers operating in Finland are required to be registered with the FIN-FSA and adhere to its comprehensive regulatory framework. This framework includes stringent measures for anti-money laundering (AML) and combating the financing of terrorism (CFT). 

Compliance with these regulations is crucial for legal operations within Finland. The exchanges we have reviewed are all registered with the FIN-FSA and meet these regulatory requirements, ensuring their activities are in compliance with the legal standards established in Finland.

Do I Have to Pay Tax on Crypto in Finland?

In Finland, cryptocurrency taxation falls under the jurisdiction of the Finnish Tax Administration. Profits from cryptocurrency investments are taxable, and the amount of tax depends on the individual's total income, in line with Finland's progressive tax system. Unlike a flat tax rate, this system varies based on the income level of each taxpayer.

Moreover, Finnish residents who use cryptocurrencies for purchasing goods or services might also be subject to VAT (Value Added Tax) at the standard rate in Finland. It's essential for individuals to accurately declare all their income from cryptocurrencies, including holdings in foreign exchanges or wallets. Proper reporting of these assets and earnings is key to adhering to Finnish tax laws and avoiding any legal complications.

Fees to Buy Crypto in Finland

‍Understanding the fee structure for cryptocurrency exchanges is important for those interested in the Finnish digital currency market. For anyone engaging with Finnish crypto platforms, here's an overview of the typical fees you might encounter:

  • Deposit Fees: The cost of adding funds to an exchange from a Finnish bank account can differ. Bank transfers in Euros usually incur no charge, but transactions through credit cards or electronic payment services might have a small fee.
  • Trading Fees: This fee is charged when you buy cryptocurrencies like Bitcoin with Euros. In Finland, the trading fee generally averages around 1% of the transaction value on most platforms.
  • Withdrawal Fees: Exchanges often levy a nominal fee for moving your digital assets from the platform to a personal bank account.
  • Account Fees: Major trading platforms, such as Bybit, often do not charge a monthly account fee. Nonetheless, smaller or specialized exchanges could require a maintenance fee.

The Bottom Line

In summary, Finnish investors seeking trustworthy cryptocurrency exchanges have excellent options to choose from. Our detailed evaluation identifies eToro, Uphold, Bybit, Binance, and NorthCrypto as the top five platforms in Finland, excelling in security, EUR deposit methods, and customer support. Each of these exchanges, adhering to the regulations set by the Finnish Financial Supervisory Authority (FIN-FSA), provides a secure and compliant trading environment. Additionally, understanding the tax implications and diverse fee structures is essential for Finnish investors.

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