If you’re based in Europe, you’re in luck! The continent is home to some of the top crypto exchanges catering to traders and investors. However, you need to use an exchange that follows the proper security measures to safeguard your funds. Well, how can we choose the right platform that fits our needs? What factors should you consider?
In this article, we have researched many sources and found the 5 best crypto exchanges in Europe. These platforms are the most reliable and safest options you can choose from.
- A detailed Review and comparison of top European Crypto Exchanges.
- The name of crypto platforms with their EU-licensed countries (if licensed)
- An insight into buying & trading crypto assets in Europe.
List of 5 Best Crypto Exchanges in Europe (2023)
There are many European crypto exchanges that operate under different regulations and offer various features and services. Under our research, here are the top 5 crypto exchanges in Europe for 2023:
- Binance: Best Bitcoin Exchange Europe
- Kraken: Overall Best Crypto Exchange in Europe
- OKX: Top Crypto Trading Platform in Europe
- Coinbase: Best Regulated Crypto Exchange in Europe
- Bybit: Safest Cryptocurrency Exchange Europe
- Regulated in Europe: Lithuania
- EUR Payment methods: SEPA, P2P, and Debit card
- Minimum deposit: €50 for bank deposit
Binance is a top crypto exchange for trading crypto and is available in 19 European countries. It has more than 350 digital currencies to trade. It also has many other services for crypto traders, like Binance Earn, Binance NFT Marketplace, Binance Pay, and more. It offers advanced trading tools, including futures, margin, lending and borrowing, copy trading (you need to connect 3rd party platform with API like 3Commas, Cryptohopper, or WunderTrading), and automatic DCA.
This crypto exchange follows the rules of Europe. It has a license from France to work in Europe. It also allows users to deposit and withdraw by euros (EUR) in different ways, like via SEPA transfer, card, and more.
Binance has its own chain to develop dApps called the BNB Chain. It supports smart contracts, DApps, and cross-chain compatibility. Users can also use Binance DEX to swap crypto in a decentralized manner.
The platforms offer advanced security and encryption to protect user data and funds. It has a SAFU fund that keeps 10% of all trading fees in a separate wallet in case of emergencies.
Pros of Binance
- Trading costs are very low at 0.1%
- A wide range of crypto pairs to trade
- A Defi wallet that supports multiple currencies
- Trading options for both beginners and experts
- High volume and liquidity
Cons of Binance
- The exchange has faced legal issues in some countries
- Advanced trading features are not suitable for beginners
- Regulated in Europe: UK and Lithuania
- EUR Payment methods: SEPA, Bank transfer, and SWIFT
- Minimum deposit: €10 for bank deposit
Kraken is a leading global crypto exchange in Europe that offers access to more than 200 cryptocurrencies and seven fiat currencies, including the Euro (EUR).
It offers a simple and a pro version for different types of investors. Kraken Pro also gives you more options for trading, such as margin trading, using futures trading with high leverage, setting orders, and more. The UK’s FCA approves and controls future trading, and you can use them in Europe.
Kraken Pro also offers an OTC desk. You can trade big amounts (at least $100,000) privately and quickly. The OTC desk offers good exchange rates and deep liquidity for many digital and EUR fiat pairs.
The platform allows you to lend Bitcoin, Ethereum, USDT, and more. You can earn up to 17% annually, depending on the asset and the market. You can also earn up to 12% APR by staking.
Pros of Kraken
- Biggest Euro-based crypto exchange with low spreads and high liquidity
- Products and services for all levels of investors, including mobile, pro, and futures
- Trusted and secure venue for crypto trading since 2011
- Regulated by multiple authorities in different regions
Cons of Kraken
- Trading Fees are relatively high
- Account Verification process is complex and lengthy
- Some newer and low-market-cap cryptocurrencies are not supported
- Regulated in Europe: Not yet
- EUR Payment methods: Visa, Mastercard, Bank transfer, and Apple Pay
- Minimum deposit: 10 USDT for crypto
You can access a wide range of tokens and markets, from spot trading to futures trading. You can also explore the world of DeFi, borrow and lend crypto, and even mine some coins.
It is not only popular worldwide, but also expanding in Europe. They have chosen France and applied for licensing. You can also trade digital arts on OKX NFT Marketplace.
Pros of OKX
- It supports 43+ fiat currencies, including EUR
- Low trading fees for high-volume traders
- Use a built-in crypto wallet to store your BTC and other crypto assets
- User-friendly interface for beginners
Cons of OKX
- Fewer trading pairs
- Not regulated in Europe
- Regulated in Europe: UK, Germany, and Ireland
- EUR Payment methods: SEPA Transfer, Debit Card, PayPal, Apple Pay, GooglePay, Sofort, and iDeal.
- Minimum deposit: €50 for bank deposit funds
Coinbase works in over 30 European countries and follows local rules and standards. It also has offices in Dublin, London, Berlin, and Paris.
It has a web and mobile app to buy and sell Bitcoin, store it securely, get rewards, and learn about crypto market. This crypto exchange has over 240 crypto and 40 fiat currencies. It also has a Web3 profile feature to make your profile unique with an ENS username.
This exchange also has a Coinbase Pro version for real-time order books, charts, low fees, and high liquidity. It has a non-custodial decentralized wallet called Coinbase Wallet. The wallet supports thousands of digital assets and collectables and features like staking, swapping, lending, borrowing, and buying and selling NFTs.
Coinbase Prime is a new feature for institutional investors. It has custody, trading, lending, staking, analytics, and prime brokerage services. It also gives access to Coinbase’s global liquidity pool and top security.
Pros of Coinbase
- Reputable crypto exchange with strong compliance and risk controls
- Simple and user-friendly interface
- Perpetual futures trading for BTC and ETH with fast API and rewards for liquidity providers
- Variety of digital assets
Cons of Coinbase
- Only supports USDC for perpetual futures settlement
- Expensive fees compared to some other exchanges
- Faces regulatory challenges in some European markets
- Regulated in Europe: No
- EUR Payment methods: SEPA and TrueLayer
- Minimum deposit: No minimum crypto deposit
Bybit is one of the best copy trading platforms in the European market. This crypto exchange offers spot and futures trading features, with over 400 pairs of coins available. Plus, you can earn passive income from some of their staking products.
The exchange has recently made it easier for European customers to deposit money into their accounts. They have teamed up with TrueLayer, a platform that connects to your bank account and lets you transfer money quickly and securely. You can fund your account by using SEPA Transfer or other online banking methods.
Bybit also protects your funds with high-security measures. This includes 2FA, anti-phishing codes, fund passwords, and cold storage of crypto.
Pros of Bybit
- Built-in NFT Marketplace for trading digital arts
- Strong security measures with cold storage
- Social trading platform for beginners
- Friendly and helpful customer support team
Cons of Bybit
- Low market cap coins are rarely supported on this exchange.
- Need to share profits (up to 10%) in copy trading
Comparison between Europe’s Best Crypto Exchanges
|Trading Fees||Supported Coins||Europe Licensed||EUR Deposit|
|Binance||Maker: 0.1%, Taker: 0.1%||350+||Yes||Yes|
|Kraken||Maker: 0.16%, Taker: 0.26%||200+||Yes||Yes|
|OKX||Maker: 0.08%, Taker: 0.1%||336+||Not yet||Yes|
|Coinbase||Maker: 0.4%, Taker: 0.6%||240+||Yes||Yes|
|Bybit||Maker: 0.1%, Taker: 0.1%||400+||Not Yet||Yes|
Methodology: How to Choose the Best Crypto Exchanges in Europe
- Research Regulatory Compliance: Start by verifying if the crypto exchange complies with relevant European regulations. Look for exchanges registered with regulatory bodies like the UK’s Financial Conduct Authority (FCA) or BaFin in Germany.
- Security Measures: Security should be a top priority. Look for cryptocurrency exchanges that implement robust security measures. These may include two-factor authentication (2FA), cold storage for funds, encryption protocols, and regular security audits. Check the exchange’s security breach history and notable security features.
- The Number of Supported Cryptocurrencies: Consider the range of cryptocurrencies offered. Ensure that the exchange supports the coins you are interested in trading or investing in. Popular exchanges usually support around 200+ crypto pairs, including Bitcoin (BTC), Ethereum (ETH), and other well-established altcoins.
- Trading Fees: Examine the fee structure of the exchange. Look for transparent fee policies with competitive rates. Some exchanges charge a percentage of the transaction value, while others have a fixed fee per trade. Consider the deposit and withdrawal limits, which can impact your trading strategy. Exchanges with trading fees of 0.1% or low are in a good range.
- Liquidity: Liquidity refers to the ease of buying or selling assets. Higher liquidity generally leads to tighter spreads and better execution of trades. Check the exchange’s trading volume and order book depth to assess its liquidity. Popular exchanges with high trading volumes tend to have better liquidity. You can use Coinmarketcap to check exchanges’ liquidity and volume. A liquidity number above 500 is considered good.
- User Experience and Interface: A user-friendly interface is crucial for a smooth trading experience. Exchanges with intuitive platforms, easy navigation, and responsive customer support are easy to use. Also, consider if the exchange offers mobile applications for convenient trading.
- Customer Support: Assess the customer support options provided by the exchange. The platforms must offer multiple channels for support, such as email, live chat, or telephone. Prompt and helpful customer support can be crucial in resolving issues and providing assistance when needed.
- Reputation and Reviews: Research the reputation of the exchange. Read user reviews, forums, and news articles. Look for exchanges with a positive track record, reliable service, and good customer feedback. You can read TrustPilot or Play Store reviews for a better understanding. Be cautious of exchanges with a history of complaints, hacks, or security breaches.
- Ease of Deposit and Withdrawal: Evaluate the exchange’s deposit and withdrawal options. Check if the exchange supports fiat currency deposits (e.g., Euros). Additionally, consider the withdrawal process and any associated fees or delays.
- Geographical Availability: Confirm that the exchange is available in your country. While many exchanges serve a global audience, certain cryptocurrency exchanges have restrictions on specific regions. Ensure that the exchange accepts users from your country and complies with local regulations.
- Solvency and Financial Stability: Exchange should provide information about their reserves and financial audits. Consider factors such as the exchange’s profitability, capital gains, and ability to handle large trading volumes. Also, consider their ability to handle unexpected market fluctuations. You can check the exchange reserve funds data on Defillama.
How do I buy cryptocurrency in Europe?
- Pick a crypto exchange that accepts your preferred currency (EUR) and payment method.
- Sign up for an account on the exchange and prove your identity and address. You may need to show some documents like your passport, ID card, or bank statement.
- Add funds to your account using your chosen payment method. Depending on the exchange, you can use bank transfer, credit card, debit card, PayPal, Neteller, Skrill, or other options.
- Choose the cryptocurrency you want to buy and enter the amount you want to spend. You can also use the ‘Convert” feature to trade one cryptocurrency for another.
- Confirm your order and get your cryptocurrency in your exchange or wallet.
Europe has many reputable and compliant cryptocurrency exchanges that follow regional rules and standards. Based on our review, here are the top 3 best overall crypto exchanges in Europe:
Bybit and Coinbase are popular exchanges with strong security measures and trading tools for beginners.
Make sure to keep up with the legal and tax aspects of cryptocurrencies in your specific country, as they differ across the EU.
What is the lowest-fee crypto exchange in Europe?
Binance is one of the cheapest crypto exchanges in Europe. It charges only 0.1% per trade, and fees can be reduced to 0.075% by holding BNB coins.
Is cryptocurrency trading legal in Europe?
Cryptocurrencies are legal in most European Union countries, but each has its own rules and regulations for the crypto industry. The EU says that people who trade cryptocurrencies don’t have to pay VAT, GST, or other taxes, but they might have to pay capital gains tax.
What are the best European exchanges for day trading?
Day trading is when you buy and sell crypto multiple times within the same day. It can be very profitable but also very risky. For this, you need platforms with faster trader execution, low fees, high liquidity, and minimal price slippage.
Binance, Kraken, and OKX are the three top-tier cryptocurrency exchanges with high volume and liquidity for day trading.