How to Buy Cryptocurrency in Luxembourg
Buying cryptocurrency in Luxembourg
The CSSF, the regulatory authority overseeing Luxembourg’s financial sector, recognizes the pros of blockchain technology. Luxembourg made amendments in its cryptocurrency regulations, which provided more legal certainty by explicitly authorizing securities to be sustained by the account keeper, by means of secured electronic registration mechanisms like blockchain. The amendment sought to allow financial market participants to enjoy the benefits of new technologies in the sphere of security circulation. Luxembourg’s government seems to have adopted a more welcoming attitude towards them than some other European countries. Furthermore, Luxembourg is considered a financial capital of the world because of its respect of privacy in the banking sector and its tax implications which are convenient for businesses. These are in agreement with the ideas behind Bitcoin – the value and respect of financial freedom and privacy. Thanks to this, it’s not surprising that Bitcoin has become a hub for those who wish to invest.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Luxembourg. 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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