Best Crypto Exchanges in Spain

Best Crypto Apps in Spain

We've crafted a unique evaluation process to distinguish the best digital asset apps and platforms for Spanish investors. Our thorough method scrutinizes each exchange's supported digital currencies, EUR deposit methods, user-friendliness, fees, security, and regulatory compliance. After this rigorous assessment, we've pinpointed the five best cryptocurrency exchanges in Spain.

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1. eToro

eToro excels as the top overall crypto platform in Spain according to our evaluation, offering a wide selection of assets for trading, including 70 cryptocurrencies, over 3000 shares, 18 indices, 27 commodities, 49 fiat currencies, and 300 ETFs. The platform is fully regulated and licensed by the CNMV, providing users with a secure and reliable trading environment.

A notable aspect of eToro is its cost-effective fee structure, with free deposits and withdrawals and a low flat fee of 1% on cryptocurrency trades. The platform delivers 24/7 customer support through live chat, email, and an online ticketing system, as well as multiple EUR deposit methods, such as bank transfer, credit/debit card, Payoneer, Skrill, Neteller, Rapid Transfer, and Trustly. In summary, eToro's extensive range of assets, competitive fees, and robust regulatory compliance makes it the ideal choice for trading cryptocurrency in Spain.

• Minimum Deposit: €50 EUR.‍
• Supported Tokens: 70 Cryptocurrencies & 3000+ other assets.‍
• Regulatory Compliance: Regulated and licensed with ESMA‍
• EUR Funding Method: Credit/Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, Bank Transfer & Trustly.

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2. Uphold

Uphold ranks as the second-best overall crypto platform in Spain. Uphold, a London-based exchange, provides access to over 250 digital assets for buying, selling, and staking through their EMA-regulated platform. A distinguishing feature of Uphold is their audited proof-of-reserves, reflecting their commitment to protecting customer funds and establishing them as the most secure exchange in Spain. Uphold supports various convenient EUR deposit methods, including SEPA, Bank Transfer, Credit/Debit Card, Google Pay, and Apple Pay.

Moreover, Uphold features a user-friendly interface and offers 24/7 customer support through live chat and email. While card deposits incur a 2.49% fee, deposits via other methods are entirely free. Crypto trading fees on the platform range from 0.8% to 1.2%, which is competitive in comparison to other exchanges. In conclusion, Uphold's presence in Europe, diverse asset selection, and dedication to security make it an excellent choice for trading cryptocurrency in Spain.

• Minimum Deposit: €20 EUR.
• Supported Tokens: 250+ Cryptocurrencies & 100+ other assets.
• Regulatory Compliance: Regulated and licensed by ESMA in Europe.
• EUR Funding Method: Debit/Credit Card, SEPA, Google/Apple Pay, & Wire Transfer.

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3. Coinbase

Coinbase stands as a prominent crypto platform for Spain-based traders due to its user-friendly interface, low fees, and robust regulatory oversight. Coinbase facilitates trading for over 50 digital assets in Spain, despite being a US-based company. The platform also provides 24/7 customer support through live chat and email, as well as EUR deposit methods such as SEPA, Credit/Debit Card, and PayPal.

One main drawback of Coinbase is its less competitive fees compared to other exchanges. For instance, there is a flat fee of 1.49% on all trades and an additional stealth fee incorporated into the spread between the buy and sell prices. Apart from this, Coinbase offers crypto storage via its proprietary online wallet, regarded as one of the most secure options in Spain.

• Minimum Deposit: €50 EUR.
• Supported Tokens: 50+ Cryptocurrencies.
• Regulatory Compliance: Not regulated by ESMA, but available to users in Spain
• EUR Funding Method: SEPA Transfer & Credit/Debit Card.

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4. Bybit

Bybit ranks as the fourth-best crypto platform and the top choice for derivatives trading in Spain. Bybit's advanced trading platform, known for its high liquidity, low fees, and leveraged trading options, attracts experienced traders seeking rapid execution and anonymity. It also is well-regarded for its great user experience on Web & Mobile, as well as its no-KYC policy which means you can sign up without having to provide identity information.

The platform is committed to user privacy and implements cutting-edge security measures, making it a preferred choice among privacy-conscious cryptocurrency enthusiasts. Additionally, Bybit provides proof of reserves, demonstrating that users' funds are held 1:1.

• Minimum Deposit: €10 EUR.
• Supported Tokens: 400+ Cryptocurrencies.
• Regulatory Compliance: Unregulated and does not require KYC.
• EUR Funding Method: Bank Transfer, SEPA Transfer, Credit/Debit Card, Google Pay, Maestro & more.

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5. Binance

Binance is a prominent global cryptocurrency exchange offering a diverse selection of over 350 cryptocurrencies, including popular choices like Bitcoin and Ethereum. The platform is recognized for its comprehensive range of features, such as spot trading, derivatives trading, and crypto options trading. Binance also boasts a competitive fee structure, with fees starting at 0.1% for spot trades and 0.06% for derivatives contract trading.

However, it's crucial to note that Binance is not currently licensed by the CNMV or ESMA in Spain, which may increase platform risk for traders. Although Binance is regulated in other countries, the absence of CNMV regulation in Spain is something users should consider when evaluating the platform.

• Minimum Deposit: €20 EUR.
• Supported Tokens: 350+ Cryptocurrencies.
• Regulatory Compliance: Not regulated or licensed by ESMA or the CNMV.
• EUR Funding Method: SEPA, Credit Card, & Debit Card.

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How does ESMA Regulate Crypto Exchanges in Spain?

The European Securities and Markets Authority (ESMA) oversees crypto exchanges in Spain by enforcing licensing and registration requirements. These ensure that exchanges comply with ESMA's regulatory standards and guidelines. ESMA also mandates robust Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to combat illicit activities and maintain transparency. Furthermore, ESMA requires exchanges to implement stringent security measures to protect user data and funds, while also maintaining clear communication with users to promote market stability and consumer protection.

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Is Buying Crypto Legal in Spain?

Yes, buying crypto is legal in Spain. The Spanish government recognizes cryptocurrencies as digital assets, and their use for trading and investment purposes is permitted. However, it's essential to use a regulated and licensed crypto exchange to ensure compliance with the country's legal requirements and guidelines. Additionally, individuals and businesses dealing with cryptocurrencies must adhere to tax regulations and other relevant laws in Spain.

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The Bottom Line

Choosing a reputable and secure cryptocurrency exchange is a critical decision for any investor in Spain. eToro stands out as the best overall exchange, followed by Uphold, Coinbase, Bybit, and Binance, according to our extensive evaluation process. These exchanges vary in their asset offerings, fees, regulatory compliance, and funding methods, providing a wide range of options for Spanish investors.

However, always ensure the platform is regulated by an authority such as ESMA for secure and compliant trading. Remember, while buying crypto is legal in Spain, adhere to tax regulations and other pertinent laws when trading or investing in cryptocurrencies. With these top platforms, Spanish investors can confidently navigate the vast crypto market.