How to Buy Cryptocurrency in Bulgaria

Buying cryptocurrency in Bulgaria

Buying cryptocurrency in BulgariaBulgaria 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

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.

Pros
  • Hundreds of coins and pairs
  • Very low fees
  • High liquidity
  • Trade without verification
Cons
  • No US residents
BrandBrand
CoinsCoins
SecuritySecurity
UsabilityUsability
AppApp
ServiceService

Open a eToro Account

67% of retail CFD accounts lose money. Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. US Residents - eToro USA LLC does not offer CFDs, only real Crypto assets available.

eToro

eToro is a social trading platform that allows you to buy into cryptocurrencies, international stocks and shares and more complex financial assets. It also have an innovative Copy Trader feature where you can choose to follow other successful traders and automatically copy their trades to hopefully share in their success

Pros
  • Fully regulated financial institution
  • Trade crypto, stocks and other financial assets
  • Follow and copy the trades of expert traders
Cons
  • Fees (spreads) are high
  • Only USD as base currency
BrandBrand
CoinsCoins
SecuritySecurity
UsabilityUsability
AppApp
ServiceService

CoinCorner

Based in Isle of Man. Over 200,000 customers with min deposit as little as £5. Simple site for getting into Bitcoin.

Pros
  • Simple user interface
  • Autobuy feature for regular crypto saving / DCA
  • You can earn Bitcoin on your shopping with their browser extension
Cons
  • Limited range of coins
  • No e-wallet feature
  • No live chat support

Bitfinex

Operating since 2012, Bitfinex has a huge range of coins and trading pairs, a good user interface and low trading fees.

Pros
  • Very low trading fees
  • Large range of coins and trading pairs
  • High liquidity
Cons
  • Slow account verification
  • Two major hacks
BrandBrand
CoinsCoins
SecuritySecurity
UsabilityUsability
AppApp
ServiceService

OKEx

OKEx is the second-largest cryptocurrency exchange in the world by volume. It posts over $2 billion in trades daily and has over 400 trading pairs.

Pros
  • Good range of coins
  • DEX trading
  • No hacking history
Cons
  • Not available in US
  • KYC required
BrandBrand
CoinsCoins
SecuritySecurity
UsabilityUsability
AppApp
ServiceService

Kucoin

Founded in 2017, KuCoin has already managed to establish itself as “The People’s Exchange.” With 200+ cryptocurrencies and more than 400 markets, it has become one of the hubs for cryptocurrency trading.

Pros
  • Vast selection of altcoins
  • Ability to stake & earn crypto yields
  • Robust security features
  • No forced KYC checks
Cons
  • No fiat currency deposits
  • Trading volume is low

Changelly

Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesn’t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.

Pros
  • Non-custodial exchange
  • Great way to switch altcoins
  • Doesn’t require extensive KYC
  • 2FA security and high exchange limit
Cons
  • A high transaction fee of 0.5%
  • Unclear owners
  • Sometimes their service is quite slow
BrandBrand
CoinsCoins
SecuritySecurity
UsabilityUsability
AppApp
ServiceService

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

Pros
  • It can be used to trade against fiat options
  • Robust security measures
  • Free SEPA deposits in Europe
Cons
  • Not a very beginner-friendly interface.
  • No card deposit options
BrandBrand
CoinsCoins
SecuritySecurity
UsabilityUsability
AppApp
ServiceService