How to Buy Cryptocurrency in Finland
Buying cryptocurrency in Finland
There are no specific regulations regarding cryptocurrencies or cryptocurrency trading in Finland. What’s more, there seems to be no proposed legislation pending in Parliament either. Having this in mind, several agencies have expressed their views on cryptocurrencies. In 2017, the Finnish Financial Supervisory Authority labeled cryptocurrencies as risk-filled investment alternatives, but also noted that depending on ICO, there might be regulatory effects of the purchase. The Central Bank affiliates went so far as to call Bitcoin revolutionary, functional and useful in 2017. Instructions for income tax of digital currencies, including Bitcoin, were issued by the Finnish Tax Authority (Vero Skatt) in 2013. When such currency is used as a payment method for goods or services, it is regarded as a trade and value increase the currency might have gained after it was obtained is, therefore, taxable. Reportedly, Bitcoin sales have resulted in millions in revenue for the Finnish Tax Authority.
As of 20/03/2021
These exchanges all accept customers from Finland. 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 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
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
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
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
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