How to Buy Cryptocurrency in Norway
Buying cryptocurrency in Norway
In Norway, Bitcoin is legal and classified as an asset, thanks to recognition of the Norwegian government. This is despite the fact that the Norwegian Supervisory Authority’s warnings against cryptocurrencies in 2013 and 2018. However, many companies have taken an interest in Bitcoin. For example, Norwegian Air has announced that it will be accepting payments for flights in Bitcoin, but only from Norwegian citizens). Because of such a Bitcoin-friendly environment, trading is easy so long as you verify your identity first. The government of Norway even decided to make its Norwegian Bitcoin exchange, Norwegian Block Exchange (NBX). Unfortunately, there aren’t many Bitcoin ATMs in Norway. As a matter of fact, there is only one ATM, which is located in Kristiansand. To those considering the possibility of Bitcoin mining in Norway, it might not be a good idea due to their cost of electricity, which is equal to almost $0.10 US.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Norway. 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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