How to Buy Cryptocurrency in Montenegro
Buying cryptocurrency in Montenegro
The State authorities of The Central Bank of Montenegro (CBM), the Capital Market Commission (CMC), along with the Ministry of Finance are yet to issue official guidance or any policies regarding cryptocurrencies and cryptocurrency trading. Other bodies of the government of Montenegro also remain silent on such issues. Having in mind the country’s strong desire to become part of the European Union, it is likely that State authorities will align their official stance on these issues to those of the European Union. Meaning, the overall opinion on cryptocurrencies will remain reserved and very doubtful due to their volatile nature. Cryptocurrencies such as Bitcoin are not regarded as an official payment method in Montenegro. However, their use and possession is not banned. The CBM stated that such currencies aren’t legal forms of payment in the country, and that any and all transactions involving these currencies are done at one’s own risk.
As of 20/03/2021
These exchanges all accept customers from Montenegro. 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
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