How to Buy Cryptocurrency in Bulgaria
Buying cryptocurrency in Bulgaria
Bulgaria is yet to define cryptocurrencies legally. Its approach to cryptocurrencies is reliant on the regulations of the European Union. So far, the Bulgarian National Revenue Agency has only managed to create laws in regards to taxation of cryptocurrencies. Mining of cryptocurrencies is also not regulated by law, which can result in increased mining as the price of cryptocurrencies goes up, and since it requires no license, mining can be done with a small budget. Cryptocurrencies are not considered to be a financial instrument within the Bulgarian law, which means that companies can create revenue without any legal hurdles. The banks have taken more drastic measures in 2017 when they shut down several accounts, taking the opposite stance on cryptocurrencies than the government. There are no new laws currently being considered for any sort of regulation of cryptocurrencies, leaving this type of currency in a void, waiting to be defined
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Bulgaria. 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
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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