Top Crypto Platforms in Sweden
After intensive research, we've pinpointed top-tier cryptocurrency platforms tailored for Swedish investors. Each was assessed on variety of digital currencies, ability to handle Swedish Krona deposits via popular methods like bank transfers and Swish, user interface, fees, and security. Compliance with Financial Supervisory Authority (FSA) of Sweden's rules was also key. From this detailed analysis, we present the top five Swedish crypto exchanges.
eToro has been identified by our team as the best exchange for Swedish investors. We have selected this as the top platform in Sweden for several reasons. Firstly, the platform can be used completely in Swedish (Svenska). Secondly, it offers free and instant SEK deposits and zero trading fees on stocks or ETFs, but a 1% fee on cryptocurrency. Thirdly, it offers useful trading features such as a virtual trading platform where users can make paper trades with up to $100k to practice strategies without risking their funds. Lastly, it is considered the most secure exchange in the world and is regulated by the CySEC in Europe.
- Minimum Deposit: $50 USD.
- Supported Tokens: 92 Cryptocurrencies & 4000+ other assets.
- Language Options: Swedish, English & 17 other languages.
- SEK Funding Method: Credit/Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, Bank Transfer & Trustly.
Binance comes in second place as it also allows its users to use the platform in Swedish. It's a global crypto exchange that has over 120 million users in 100+ countries including Sweden. It was chosen as the second-best exchange for Swedish investors as it has a wide range of cryptocurrencies, multiple staking options with high yields, borrowing and lending services, a large DeFi hub with a native wallet, bridge, chain, and NFT marketplace, and much more. Additionally, it is regulated by the Swedish Financial Supervisory Authority (Swedish FSA).
- Minimum Deposit: $180 SEK.
- Supported Tokens: 350+ Cryptocurrencies.
- Language Options: Swedish, English & 39 other languages.
- SEK Funding Method: Debit/Credit Card, Wise, Zen, Skrill & Revolut.
Bybit is the third-best option for Swedish investors as it has the largest selection of cryptocurrencies on this list, with over 400 tokens to choose from. One major reason we selected Bybit was that it's a Non-KYC exchange, which means that you do not need to verify your identity or physical address in order to use the platform. In addition, it is a feature-rich exchange that offers a vast array of services including Crypto Staking, Crypto Loans, Copy Trading, an NFT Marketplace, Lending Services, and more. It also provided proof-of-reserves which shows users' funds are held 1:1.
- Minimum Deposit: $50 SEK.
- Supported Tokens: 400+ Cryptocurrencies.
- Language Options: English & 21 other languages.
- SEK Funding Method: Credit/Debit Card, Wise, Swish, Zen, Google Pay & Maestro.
Bitpanda has been chosen as the fourth-best exchange in Sweden as it is considered one of the most secure platforms in Europe. It is based in Austria but offers services to many European countries and is regulated in 10 jurisdictions including Sweden. The only downside of Bitpanda is it doesn't support Swedish as one of its 6 languages. However, it is a multi-asset exchange that offers Crypto, Stocks, Commodities, ETFs & Indices. The platform is also highly secure and receives regular audits on their reserves by KPMG to highlight they store users' funds 1:1 on the exchange.
- Minimum Deposit: $250 SEK.
- Supported Tokens: 250+ Cryptocurrencies & 2000+ other assets.
- Language Options: English, German, French, Spanish, Italian, and Polish.
- SEK Funding Method: SEPA, Sofort, Neteller, Skrill, Credit/Debit Card, EPS & Giropay.
Uphold is our team's final pick for Swedish investors as the platform cannot be used in Swedish, but it does accept SEK deposits and is considered one of the most secure exchanges in the world. Uphold is regularly audited to prove that their proof-of-reserves hold customers' assets on a 1:1 basis, giving peace of mind to investors in Sweden. It offers several asset classes including crypto and precious metals like Gold and Silver. Aside from trading services, Uphold also offers a Crypto Card that allows users to spend any of the 250+ supported tokens on real-life purchases.
- Minimum Deposit: €10 EUR.
- Supported Tokens: 250+ Cryptocurrencies.
- Language Options: English & Spanish.
- SEK Funding Method: Debit/Credit Card, Google/Apple Pay, SEPA & Wire Transfer.
Is Crypto Taxed in Sweden?
Cryptocurrency taxation in Sweden is a relatively straightforward process. All crypto transactions, including buying, selling, and trading, are considered taxable events, and they are subject to capital gains tax. The amount of tax that you need to pay is based on the profit or loss you make from the transactions. If you hold the cryptocurrency for more than a year, you are eligible for a reduced tax rate. The tax rate for digital assetstransactions is the same as that for other types of capital gains, which is currently 30%.
Is Crypto Trading Legal in Sweden?
Cryptocurrency investing is entirely legal in Sweden. The Swedish Financial Supervisory Authority (FSA) recognizes cryptocurrency as a legal means of payment and has outlined the regulatory framework for digital-asset exchanges and wallets operating in the country. Exchanges and wallet providers must register with the FSA and comply with the country's strict anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
The Swedish government is also actively exploring the potential of blockchain technology and cryptocurrency, with several blockchain-based initiatives underway in various sectors, including real estate, logistics, and healthcare. Additionally, Sweden has a robust digital infrastructure and a highly tech-savvy population, which has made it an attractive destination for cryptocurrency startups and investors.
The Bottom Line
In conclusion, investing in cryptocurrencies in Sweden is both legal and widely adopted, regulated by the Financial Supervisory Authority (FSA) of Sweden. eToro, Binance, Bybit, Bitpanda, and Uphold stand out as the top 5 cryptocurrency exchanges tailored for Swedish users, each offering distinct benefits, such as language options, range of supported tokens, and different deposit methods.
Remember, although the digital asset market can be lucrative, it's essential to understand that investments come with risks. Always use trustworthy platforms, ensure you understand their fee structures, and be aware of the tax obligations on your crypto gains.