Best Crypto Exchanges Portugal

Top Crypto Apps in Portugal

Our team has developed a meticulous assessment framework to identify and rank the premier cryptocurrency trading platforms accessible to investors in Portugal. This evaluation process delves deep into key aspects such as payment options in Euros, fee schedules, user experience, Portuguese language support, security protocols, and features. Following an in-depth examination, we are pleased to present the top five crypto exchanges in Portugal.

‍

1. eToro

eToro is the best cryptocurrency exchange in Portugal, primarily due to its diverse asset offerings, multilingual support, and social trading aspect. The platform offers an intuitive, user-friendly interface suited for all types of investors that supports trading of six asset classes, including crypto, stocks, ETFs, commodities, indices, and fiat currencies. eToro's unique social features, like copy trading, allow users to mimic the trades of top-performing users, offering an excellent learning platform. Additionally, eToro offers a wide range of cryptocurrencies for trading and staking.

• Minimum Deposit: €50 EUR.
• Supported Tokens: 90+ Cryptocurrencies & 3000+ other assets.
• Language Options: Portuguese & 19 other languages.‍
• EUR Funding Method: Credit Card, Debit Card, PayPal, Neteller, Skrill, Trustly, Klarna & Bank Transfer.

‍

‍2. Bybit

Bybit is considered the best platform for trading crypto derivatives in Portugal. Bybit's state-of-the-art matching engine can handle a large volume of transactions, making it ideal for high-frequency traders. Its trading types include spot, margin, options and futures with up to 100x leverage. Bybit also provides 24/7 Portuguese customer support, and the entire platform can be used in the language. Additionally, it provides a transparent and competitively low fee structure with the lowest maker fee at 0.1%, making it a trusted choice for derivative traders looking for an affordable option.

• Minimum Deposit: €10 EUR.
• Supported Tokens: 850+ Cryptocurrencies.
• Language Options: Portuguese & 21 other languages.‍
• EUR Funding Method: Credit/Debit Card, Bank Transfer, SEPA, Easy Bank, Giropay, Maestro & Google Pay.

‍

3. Uphold‍

Uphold is recognized as the best cryptocurrency exchange in Portugal for transparency as it is the only platform being regularly audited to show its proof of reserves are always backed 1:1. The platform distinguishes itself by offering real-time transparency of its operations, including reserve holdings and business activities. It also provides a seamless and straightforward trading experience with many cryptocurrencies, traditional currencies, and precious metals. Uphold's commitment to accountability and customer trust make it an ideal platform for users who value transparency in their transactions.

• Minimum Deposit: €20 EUR.
• Supported Tokens: 250+ Cryptocurrencies & 100+ other assets.
• Language Options: English & Spanish.
• EUR Funding Method: Debit/Credit Card, SEPA, Google Pay, Apple Pay, & Bank Transfer.

‍

4. Binance

Binance is the fourth-ranked cryptocurrency exchange in Portugal, known for being the best for institutional investors. The exchange provides access to a wide range of cryptocurrencies and many unique advanced trading features. Its high liquidity, advanced order types, futures trading, and over-the-counter (OTC) services make it particularly suitable for institutional investors. Additionally, Binance's comprehensive API documentation and strong security protocols make it an excellent choice for integrating institutional trading solutions. It is the most global exchange worldwide and offers support in 40+ languages.

• Minimum Deposit: €20 EUR.
• Supported Tokens: 350+ Cryptocurrencies.
• Language Options: Portuguese & 40 other languages.
• EUR Funding Method: Bank Transfer, SEPA, Apple Pay, Google Pay & Credit/Debit Card.

‍

5. Bitstamp

Bitstamp ranks in the top five as the best European crypto exchange in Portugal. Bitstamp, being one of the oldest and most respected exchanges in the world, provides a secure and reliable platform for trading a broad range of cryptocurrencies. Its strong regulatory compliance in the European Union, high liquidity, advanced trading features, and competitive fees make it a top choice for users. Furthermore, Bitstamp's user-friendly interface and robust security measures ensure a seamless and safe trading experience.

• Minimum Deposit: €25 EUR.
• Supported Tokens: 82 Cryptocurrencies.
• Language Options: English, Dutch, Italian, Polish & Slovenian.
• EUR Funding Method: SEPA, Bank Transfer & Credit/Debit Card.

‍

How Does Banco de Portugal Regulate Crypto?

The central bank of Portugal, Banco de Portugal, holds a crucial position overseeing cryptocurrency exchanges within the nation. It is responsible for issuing licenses and ensuring these trading platforms adhere to current legal frameworks. Like global regulatory bodies, Banco de Portugal enforces stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) policies to curb illicit activities and bolster transparency in the Portuguese cryptocurrency landscape.

To conduct business in Portugal, exchanges must satisfy the rigorous security standards set forth by Banco de Portugal. These measures are designed to protect both consumer data and financial assets from potential vulnerabilities. Additionally, Banco de Portugal underscores the value of clear and effective communication with users, aiming to cultivate trust in the burgeoning Portuguese cryptocurrency market.

‍

Do I have to Pay Tax on Crypto in Portugal?

Absolutely, in Portugal, cryptocurrencies are viewed as digital assets, not as traditional forms of currency. The Portuguese Tax Authority, commonly referred to as the Autoridade Tributária e Aduaneira, regulates the taxation of digital currencies. For individual investors, cryptocurrencies are generally considered as capital gains and are not subject to income tax. However, they may be subject to other forms of taxation depending on the specific circumstances.

If you're engaged in the active trading or mining of cryptocurrencies as a business activity in Portugal, the profits and losses you generate are subject to corporate income tax. It's crucial to note that, unlike other countries, converting cryptocurrencies to fiat money is exempt from Value-Added Tax (VAT) in Portugal. However, if you use cryptocurrencies to purchase goods or services, standard VAT rates will apply to those transactions.

‍

Is Crypto Staking Legal in Portugal?

Cryptocurrency investment and staking are fully legal in Portugal, thanks to the country's progressive stance on digital assets. Unlike the previous restrictions in some nations, Portugal has always maintained a more open approach, offering a well-defined regulatory framework to ensure investor protection, tax compliance, and the prevention of illegal activities.

Portuguese citizens can freely invest and stake various cryptocurrencies, including Bitcoin and Ethereum, through accredited and compliant platforms like Kraken, Bitstamp, and others. This forward-thinking policy has not only fostered a robust crypto ecosystem in Portugal but has also made the country a hub for financial innovation, drawing international investments into its market.

‍

‍The Bottom Line

To sum up, Portugal offers a dynamic and favorable environment for cryptocurrency trading, with numerous top-tier exchanges accessible to investors. After a detailed analysis, the top five exchanges have been identified as eToro, Bybit, Uphold, Binance, and Bitstamp, each with unique features and benefits catering to different types of investors. eToro, with its diverse asset offerings and social trading capabilities, takes the top spot as it provides free and instant EUR deposits to trade over 3000 assets, including cryptocurrencies.