How to Buy Cryptocurrency in Italy
Buying cryptocurrency in Italy
Surprisingly, Italy has not yet regulated ICOs and cryptocurrencies, although they are one of the leading countries in Europe. However, the Italian government considers adopting digital technologies to be one of their top priorities. With that in mind, they do have plans to regulate cryptocurrencies in the future, although the progress in this direction has been quite slow. After all, cash remains the most common way of carrying out financial transactions in the country. The government has plans to turn Italy into a cashless country to battle tax evasion. This will pave the way for alternative payment methods, including cryptocurrencies such as Bitcoin, Ethereum, and others. So far, the government has passed a legislation that aims to introduce and define blockchain and Smart Contracts. Although the Italian legal system does not recognize cryptocurrencies just yet, it is not illegal to purchase Bitcoin and other currencies in this country.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Italy. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Binance
Binance is one of the largest crypto exchanges with low fees, 100s of coins, and high trading leverage. It is one of the easiest & cheapest exchanges for crypto trading.
Hundreds of coins and pairs
- Very low fees
- High liquidity
No US residents
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Bybit
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
- Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
- Limited asset coverage
- No option instruments
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Kraken
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options
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Uphold Disclaimer: Asset availability on the Uphold platform is subject to region. All investments and trading are risky, and may result in the loss of capital. Cryptoassets are largely unregulated and are not subject to protection
Uphold
Based in Charleston, South Carolina. Serves over 184 countries and has done over $4 billion in transactions. Offers convenient options to swap between crypto, fiat, equities, and precious metals.
- Open to US residents
- Integrated with Brave Browser
- Over 50 different coins
- Also offers precious metals and equities
- Convenient and cheap deposit/withdrawal methods
- High trading fees
- Smaller coin selection compared to some
- No Paypal withdrawal option
- No instant debit card withdrawals
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