How to Buy Cryptocurrency in Malta
Buying cryptocurrency in Malta
Wanting to position itself as a world leader in cryptocurrency regulation, Malta has adopted a rather progressive approach to cryptocurrencies. Even though cryptocurrencies arenít considered legal tender in the country, the government of Malta does acknowledge them as an exchange medium, a unit of account and even a store of values. The country doesnít have any specific legislation regarding the taxing of cryptocurrencies, and VAT isnít currently applicable to transactions where fiat currency is exchanged for crypto. When it comes to cryptocurrency exchanges in Malta, they are deemed legal. Furthermore, the government of Malta implemented major legislation, which would define a new regulatory system for cryptocurrencies and address the subjects of anti-money laundering and combat terrorism financing. This legislation consists of three separate bills that set a world precedent by creating a regulatory system which is applicable to cryptocurrency exchanges, brokers, ICOs, advisers, asset managers, as well as wallet providers.
As of 20/03/2021
These exchanges all accept customers from Malta. 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