Top Crypto Apps in Switzerland
In our evaluation, we've identified the top cryptocurrency platforms for Swiss traders. Each was assessed based on the diversity of digital assets, Swiss Franc deposits via online banking and TWINT, user-friendliness, fees, and robust security. Compliance with the Swiss Financial Market Supervisory Authority (FINMA) regulations is also key. From this, we've chosen the top five Swiss crypto exchanges.
eToro ranks as the top choice in Switzerland as it is considered the safest exchange throughout Europe. As a diverse exchange, it supports an extensive range of assets spanning six classes, which include Cryptocurrencies, stocks, commodities, ETFs, traditional currencies, and indices. The platform can be used in multiple languages and offers 24/7 customer support in German, French, and Italian. In addition to trading, eToro also offers Crypto staking services, a virtual trading platform, and a copy trading feature that allows users to mimic the trades of successful investors.
- Minimum Deposit: $20 CHF.
- Supported Tokens: 92 Cryptocurrencies & 4000+ other assets.
- Language Options: German, French, Italian, English & 14 other languages.
- CHF Funding Method: Bank Transfer, Credit/Debit Card PayPal, Neteller, Skrill, Rapid Transfer & Trustly.
Securing the runner-up position for Swiss investors, Uphold maintains its reputation as one of the most secure and transparent digital currency exchanges worldwide. Its only downside is not offering customer service in German, French, or Italian. The platform is being consistently audited to show to assure users that their assets are held 1:1 in their reserves. Uphold goes beyond Cryptocurrencies, enabling users to invest in a range of commodities and traditional fiat currencies. It also offers a Crypto card that offers 4% cash back in Ripple (XRP).
- Minimum Deposit: $20 CHF.
- Supported Tokens: 250+ Cryptocurrencies.
- Language Options: English & Spanish.
- CHF Funding Method: Debit/Credit Card, Google/Apple Pay, SEPA & Wire Transfer.
Bitpanda earns the bronze medal as the third-best exchange in Switzerland. It is another multi-asset exchange that offers Crypto, stocks, indices, commodities and ETFs. Bitpanda caters to German, French, and Italian speakers, and provides 24/7 customer support in those languages. It is well-known for its robust security measures and transparency, it is routinely audited by KPMG and supplies proof of funds, highlighting users' assets are backed on a 1:1 basis. The platform's interface and wide selection of assets make it a great choice for investors.
- Minimum Deposit: $25 CHF.
- Supported Tokens: 250+ Cryptocurrencies & 2000+ other assets.
- Language Options: German, English, Italian, French, Spanish, and Polish.
- CHF Funding Method: SEPA, Sofort, Neteller, Skrill, Credit/Debit Card, EPS & Giropay.
Bybit secures its position as the fourth-leading Cryptocurrency trading platform in Switzerland. Although the platform cannot be used in German, it is available in French and Italian and provides customer assistance in all three languages. Since it is not a European-based platform, it operates outside local regulations and does not require users to complete KYC procedures, allowing Swiss investors to use the platform without verifying their identity. Bybit is also among the select few exchanges that offer proof of reserves, ensuring users' funds are held 1:1.
- Minimum Deposit: $10 CHF
- Supported Tokens: 400+ Cryptocurrencies.
- Language Options: English & 21 other languages.
- CHF Funding Method: Credit/Debit Card, Google Pay & Maestro.
SwissBorg is a prominent Cryptocurrency exchange based in Switzerland, offering users an easy way to invest in digital assets. It has been ranked fifth-best on our list as it offers significantly fewer tokens on its platform and lacks CHF payment methods. The platform provides a couple of features including a mobile application and staking services. Additionally, SwissBorg's native token, CHSB, enables users to benefit from lower fees, enhanced yield, and community-centric governance, contributing to a user-focused Crypto investment experience.
- Minimum Deposit: $20 CHF.
- Supported Tokens: 57 Cryptocurrencies.
- Language Options: German, English, and French.
- CHF Funding Method: SEPA & SWIFT.
How is Crypto Regulated in Switzerland?
The Swiss Financial Market Supervisory Authority (FINMA) alongside the Federal Department of Finance regulate cryptocurrency exchanges in Switzerland. They apply strict licensing, Anti-Money Laundering (AML), and Know Your Customer (KYC) rules to ensure market transparency.
Crypto exchanges must maintain strong security measures to protect user data and assets. These regulators foster open communication between exchanges and users, contributing to market stability in the Swiss crypto sector.
Is Buying Crypto Legal under Swiss Law?
Yes, buying cryptocurrency in Switzerland is legal. Swiss authorities classify cryptocurrencies as digital assets for trading and investment. Users are encouraged to use regulated crypto exchanges compliant with Swiss financial and tax laws. FINMA supervises these activities, upholding stringent AML and KYC rules.
Both individuals and businesses should respect Switzerland's tax regulations on cryptocurrencies. Profits from crypto trading or investments are taxable and must be reported to the Swiss Federal Tax Administration. This approach encourages innovation while ensuring consumer protection in the Swiss crypto industry.
The Bottom Line
In conclusion, Switzerland's cryptocurrency trading scene offers a diverse array of platforms, each with unique features catered to different investor preferences. Our top five picks, eToro, Uphold, Bitpanda, Bybit, and SwissBorg, offer a blend of asset diversity, robust security, user-friendliness, and compliance with FINMA regulations.
While eToro leads with its multi-asset offerings and language support, each platform has its unique strengths, whether it's Uphold's transparency, Bitpanda's broad asset selection, Bybit's relaxed KYC procedures, or SwissBorg's native token benefits. Remember, as Swiss law views cryptocurrencies as legal digital assets, traders and investors must adhere to the country's financial and tax regulations.