How to Buy Cryptocurrency in Austria

Buying cryptocurrency in Austria

Buying cryptocurrency in Austria The situation around cryptocurrencies in Austria is quite two-fold. Although the country's law does not prohibit cryptocurrencies, no one is encouraging people to adopt this financial alternative in their daily lives. In fact, the FMA or the Austrian Financial Markets Authority, has warned investors that cryptocurrencies are a risky path to go down and that such currencies are not regulated by them. There are no official cryptocurrency-related laws in Austria yet, which makes the whole situation quite stagnant. In general, cryptocurrencies are not considered equal to domestic or foreign fiat currencies in Austria. If you were to look for places where you could spend your Bitcoins in this country, chances are it would take a while to find one. Overall, cryptocurrencies are not treated as a financial instrument in this country. It is merely considered a commodity whose use is very limited. Besides, involving cryptocurrencies in a business requires certain licenses under the Austrian Banking Act, which makes the process seem off putting to business owners in the country.
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Austria. 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

Open a Bybit Account

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.

Pros