How to Buy Cryptocurrency in Poland

Buying cryptocurrency in Poland

Buying cryptocurrency in PolandIn today’s day and age of new technology, there is a worldwide trend where most countries create or attempt to develop their very own currencies. Polish cryptocurrencies can also be found among thousands of these virtual currencies. As development continues to grow and information regarding cryptocurrencies spreads further, the world will experience even more benefits of new technologies. Even though it lacks legal regulations regarding cryptocurrencies, Poland doesn’t hinder its operations of participating in the creation of cryptocurrencies. There are several Polish projects that haven't gained world popularity yet, but are certainly important. The Golem Project (GNT) is one of them. Founded by Julian Zawistowski, it is basically a cryptocurrency supercomputer. GNT's goal was the creation of a decentralized open source node for its users. The central part of the project was to guarantee that GNT’s creation would minimize spending on research, as well as the analysis of detailed data.
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Poland. 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

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.

Pros
  • Hundreds of coins and pairs
  • Very low fees
  • High liquidity
  • Trade without verification
Cons
  • No US residents
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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

Pros
  • It can be used to trade against fiat options
  • Robust security measures
  • Free SEPA deposits in Europe
Cons
  • Not a very beginner-friendly interface.
  • No card deposit options
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eToro

An Israeli fintech startup well known as a social trading broker, eToro has now over 10 million users worldwide. If you want to trade CFDs of most popular stocks, gold, shares or commodities as well as some crypto eToro is an interesting choice.

Pros
  • Fully regulated financial institution
  • Free stock and ETF trading
  • Ability to follow expert traders
Cons
  • Fees (spreads) are high
  • Only USD as base currency
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Bitpanda

Based in Vienna, Austria Bitpanda specializes in buying & selling Bitcoins within the Eurozone. Bitpanda is suitable for both novice & pro traders with high-end security features and servers.

Pros
  • Beginner-friendly with a wide variety of payment options
  • It supports fiat to crypto and cash purchase
  • 30+ digital assets including gold and silver.
  • Supports IBAN to convert euros into digital currency.
Cons
  • Fees are not stated clearly rather it is included in price.
  • Not available worldwide.
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Bitfinex

Operating since 2012, Bitfinex has a huge range of coins and trading pairs, a good user interface and low trading fees.

Pros
  • Very low trading fees
  • Large range of coins and trading pairs
  • High liquidity
Cons
  • Slow account verification
  • Two major hacks
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Changelly

Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesn’t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.

Pros
  • Non-custodial exchange
  • Great way to switch altcoins
  • Doesn’t require extensive KYC
  • 2FA security and high exchange limit
Cons
  • A high transaction fee of 0.5%
  • Unclear owners
  • Sometimes their service is quite slow
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Poloniex

Poloniex is a centralized cryptocurrency exchange that started its journey back in January 2014. The platform offers margin trading, spot trading and margin lending

Pros
  • No verification required
  • Low fees
  • Margin trading and lending options
Cons
  • Not regulated
  • No Fiat deposits
  • No US users
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OKEx

OKEx is the second-largest cryptocurrency exchange in the world by volume. It posts over $2 billion in trades daily and has over 400 trading pairs.

Pros
  • Good range of coins
  • DEX trading
  • No hacking history
Cons
  • Not available in US
  • KYC required
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Bittrex

Bittrex is a veteran US-based cryptocurrency exchange launched in 2013. Its has Worldwide availability, comprehensive mobile app, high liquidity and low fees.

Pros
  • Strong security features
  • Faster transaction & withdrawals
  • Compliant with US laws
  • Inexpensive bank card deposits
Cons
  • No leveraged margin trading
  • Intrusive verification process
  • Unexplained closure of account