Top Crypto Apps in Hungary
Through our in-depth research, we have identified the leading cryptocurrency applications and platforms catering to Hungarian investors. We assess each exchanges range of crypto, supported Hungarian Forint deposits through domestic channels such as bank transfers and GIRO, user experience, fees, and security measures. Compliance with the Hungarian National Bank (MNB) regulations is also factored in. From this comprehensive analysis, we present the top five crypto exchanges in Hungary.
1. eToro
eToro is the best exchange for Hungarian investors, offering a diverse range of over 70 cryptocurrencies and 3,000 stocks, ETFs, and other assets to trade. This grants investors access to popular cryptos like Bitcoin and Ethereum, as well as crypto-linked stocks such as Coinbase and Microstrategy. Regulated by the European Securities and Markets Authority (ESMA), eToro guarantees a secure and dependable trading experience for users in Hungary.
eToro distinguishes itself from competitors with its attractive fee structure, featuring free deposits and withdrawals, zero trading commissions, and highly competitive spreads. Hungarian users also benefit from eToro's intuitive platform, round-the-clock customer support, and various HUF deposit options, including bank transfer, credit/debit card, and e-wallets.
- Minimum Deposit: 15,000 HUF.
- Supported Tokens: 70+ Cryptocurrencies & 3,000 other assets.
- Regulatory Compliance: Regulated by the European Securities and Markets Authority (ESMA).
- HUF Funding Method: Bank Transfer, SEPA Transfer, Debit Card, Credit Card, Sofort (Klarna), and more.
2. Uphold
Uphold excels in the Hungarian cryptocurrency market with its wide variety of digital assets and staking opportunities. Headquartered in London, the platform supports over 250 cryptocurrencies and 100+ additional assets, and is regulated by the Financial Conduct Authority (FCA), making it available to investors in Hungary. Uphold's commitment to safeguarding customer funds is demonstrated through its audited proof-of-reserves, ensuring a highly secure option for Hungarian investors.
The platform offers multiple convenient HUF deposit methods, including bank transfer, SEPA, credit/debit card, Google Pay, and Apple Pay. Uphold also boasts a user-friendly interface and delivers 24/7 customer support via 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%, presenting competitive rates compared to other exchanges.
- Minimum Deposit: 15,000 HUF.
- Supported Tokens: 250+ Cryptocurrencies & 100+ other assets.
- Regulatory Compliance: Regulated and licensed by the Financial Conduct Authority (FCA).
- HUF Funding Method: Debit/Credit Card, SEPA, Google/Apple Pay, & Bank Transfer.
3. Bybit
Bybit is widely considered as the leading choice for derivatives trading in Hungary, ranking third overall among crypto platforms. Its sophisticated trading platform, renowned for high liquidity, competitive fees, and leveraged trading options, appeals to seasoned traders seeking rapid execution and anonymity. Bybit is also acclaimed for its outstanding user experience on both web and mobile platforms and its no-KYC policy, which allows users to sign up without providing identity information.
With a strong commitment to user privacy, Bybit employs state-of-the-art security measures, making it a popular choice among privacy-conscious cryptocurrency enthusiasts in Hungary. Additionally, Bybit offers proof of reserves, ensuring that users' funds are held on a 1:1 basis.
- Minimum Deposit: 6,000 HUF.
- Supported Tokens: 400+ Cryptocurrencies.
- Regulatory Compliance: Unregulated and does not require KYC.
- HUF Funding Method: Bank Transfer, SEPA Transfer, Credit/Debit Card, Google Pay, and more.
4. Binance
Binance is the largest global cryptocurrency exchange, offering an extensive selection of over 350 cryptocurrencies from popular sectors like DeFi, GameFi, and NFTs. The platform is widely known for its diverse features, such as spot trading, derivatives trading, BNB Chain DeFi and crypto options trading. Binance also provides 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 Hungarian National Bank (MNB) or the European Securities and Markets Authority (ESMA), but it is available to investors in Hungary. Despite any rumours or news from US-based regulators, the exchange maintains its trustworthiness and continues to deliver a reliable user experience for Hungarian customers.
- Minimum Deposit: 3,000 HUF.
- Supported Tokens: 350+ Cryptocurrencies.
- Regulatory Compliance: Not licensed by the MNB or ESMA.
- HUF Funding Method: Bank Transfer, SEPA, Credit Card, Debit Card, MobilePay, and more.
5. Bitpanda
Bitpanda is a popular European cryptocurrency exchange, well-known for its user-friendly platform and extensive selection of over 250 cryptocurrencies, including major assets and emerging tokens. The platform offers various features, such as spot trading, savings plans, and crypto indices, making it suitable for both beginners and experienced traders in Hungary.
Bitpanda is regulated by the European Securities and Markets Authority (ESMA) and the Austrian Financial Market Authority (FMA), ensuring a secure trading environment for Hungarian investors. The platform's fee structure is competitive, with fees starting at 0.1% for spot trades and varying fees for other services. Hungarian users appreciate Bitpanda's easy-to-use interface, 24/7 customer support, and multiple HUF deposit options, including bank transfer, SEPA, credit/debit card, and e-wallets.
- Minimum Deposit: 5,000 HUF.
- Supported Tokens: 250+ Cryptocurrencies.
- Regulatory Compliance: Licensed by the ESMA and FMA.
- HUF Funding Method: Bank Transfer, SEPA, Credit Card, Debit Card, E-Wallets, and more.
How does the MNB Regulate Crypto?
The Hungarian National Bank (MNB) supervises crypto exchanges within Hungary by implementing various licensing and registration requirements. These prerequisites help maintain compliance with MNB's regulations and guidelines. Additionally, MNB enforces strict Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols to deter illegal activities and promote transparency in the market.
Crypto exchanges in Hungary are also obligated to adopt strong security measures to safeguard user information and assets. Clear and effective communication with users is another key aspect of MNB's regulatory approach, ensuring market stability and consumer protection.
Do you have to pay tax on Crypto in Hungary?
Yes, in Hungary, individuals must pay taxes on cryptocurrencies as stipulated by the guidance provided by the National Tax and Customs Administration of Hungary (NAV). The precise regulations are contained within the Income Tax Act for Capital Gains Tax, which becomes applicable when one sells, swaps, or utilizes cryptocurrency to pay for goods or services.
The tax rate varies based on your comprehensive taxable income. Furthermore, Personal Income Tax, managed by the Personal Income Tax Act, could be applicable if you receive cryptocurrency from employment, mining, or airdrops. Engaging with a tax expert for detailed advice suited to your specific circumstances is recommended.
Is Crypto Staking Legal in Hungary?
In Hungary, purchasing and staking cryptocurrencies is legal and recognized as a legitimate activity. The country's authorities classify cryptocurrencies as digital assets that can be utilized for various purposes, such as trading and investment, which includes receiving staking awards. To stay compliant with Hungarian regulations, it is essential for investors to transact with licensed and regulated crypto exchanges.
Individuals and businesses involved in cryptocurrency transactions must also abide by the relevant tax laws and other legal obligations in Hungary to ensure smooth operations within the country's regulatory framework.
The Bottom Line
In conclusion, Hungarian investors seeking a reliable crypto exchange should prioritize platforms regulated by the MNB or ESMA. This ensures secure HUF deposits and access to a wide range of cryptocurrencies. Our in-depth analysis of the leading exchanges for Hungarian investors has identified eToro, Uphold, Bybit, Binance, and Bitpanda as the top choices.
Remember to consider each platform's unique features and regulatory compliance when making your decision. As always, be mindful of your country's legal requirements and tax obligations when engaging in cryptocurrency transactions.
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