How to Buy Cryptocurrency in Estonia
Buying cryptocurrency in Estonia
Estonia made adjustments to its anti-money laundering legislation in November of 2017, defining cryptocurrencies or digital currencies as value represented in digital form, digitally transferable, preservable and tradable, and that natural or legal persons agree to receive as payment. However, it is not the legal tender of any country or any funds, such as banknotes, coins, scriptural money held by banks or electronic money. This legislation is now also relevant to providers of service for trading virtual with fiat currency, as well as providers of a virtual wallet service, defined as a service where customers’ encrypted keys are either generated or kept safe, that can be used for keeping, storing or transferring virtual currency. These service providers are also obligated to have a valid license. As far as exchanges go, they are legal, but they work under a very well-defined framework of regulation that includes precise reporting and KYC rules.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Estonia. 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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