How to Buy Cryptocurrency in Slovakia



Buying cryptocurrency in Slovakia
According to Slovakia’s Minister of Finance, virtual currencies are perceived as having 2 roles - a means of exchange and an investment asset. Additionally, he expressed Slovakia’s desire to resolve issues regarding income tax which stem from the exchange for goods, along with the income that stems from cryptocurrency trading. This eventually led to a structured guidance regarding the taxation of virtual currencies. For private individuals, profits made from cryptocurrencies are subject to tax. When it comes to those running cryptocurrency businesses, virtual currencies are deemed financial assets. More precisely, cryptocurrencies are a form of short-term financial asset other than cash. Additionally, businesses and individuals also need to consider tax which applies to mining of virtual currencies, where cryptocurrencies are booked at market value instantly when traded or sold. This regulation eliminated the gray area of cryptocurrencies taxing present in most countries, but also hindered investors wishing to exploit it.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Slovakia. 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
Trade without verification
No US residents






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






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






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.
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.
Fees are not stated clearly rather it is included in price.
Not available worldwide.






Bitfinex
Operating since 2012, Bitfinex has a huge range of coins and trading pairs, a good user interface and low trading fees.
Very low trading fees
Large range of coins and trading pairs
High liquidity
Slow account verification
Two major hacks






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






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






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.
Good range of coins
DEX trading
No hacking history
Not available in US
KYC required






Kucoin
Founded in 2017, KuCoin has already managed to establish itself as “The People’s Exchange.” With 200+ cryptocurrencies and more than 400 markets, it has become one of the hubs for cryptocurrency trading.
Vast selection of altcoins
Ability to stake & earn crypto yields
Robust security features
No forced KYC checks
No fiat currency deposits
Trading volume is low
Coinmama
Coinmama was formed in Slovakia in 2013. As a user, you are not allowed to exchange cryptocurrencies with other users on this platform. Instead, you will be trading cryptocurrencies with Coinmama directly which makes your transactions more secure.
Receive coins to your wallet instantly.
High limits for buying bitcoin
Faster customer service
High levels of security
No option for trading with other users
Higher fees
No mobile app






Bittrex
Bittrex is a veteran US-based cryptocurrency exchange launched in 2013. Its has Worldwide availability, comprehensive mobile app, high liquidity and low fees.
Strong security features
Faster transaction & withdrawals
Compliant with US laws
Inexpensive bank card deposits
No leveraged margin trading
Intrusive verification process
Unexplained closure of account