How to Buy Cryptocurrency in Portugal
Buying cryptocurrency in Portugal
Portugal’s economy is regarded as reliable and steady, and it has continued developing since 2014. Large companies that have worldwide reach and reputation and a well-developed tourism sector help support this economic boom.Portugal is deemed Bitcoin-friendly. It would be a shame if it wasn’t, with such a thriving economy. Bitcoin is treated like any other currency by the financial authorities in Portugal. According to these financial authorities, profits and gains made from cryptocurrency transactions are not subject to tax because the exchange of cryptocurrencies makes for an on-demand and VAT-free exercise of services. Bitcoin mining, on the other hand, might not be such a good idea. The crypto-friendly tax laws and the country’s developed economy might make the prospect of mining seem appealing. However, upon realizing that the price of electricity in Portugal is more than double that of the U.S., the prospect loses any semblance of an appeal.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Portugal. 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.
Hundreds of coins and pairs
- Very low fees
- High liquidity
No US residents
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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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