How to Buy Cryptocurrency in Spain
Buying cryptocurrency in Spain
In 2021, Spain’s government proceeds to harden its attitude towards cryptocurrencies. What’s more, the Spanish Secretary of State for the Economy, Ana de la Cueva voiced her opinion on cryptocurrencies and the risk they present for Spain’s economy. She also stated that cryptocurrencies like Bitcoin pose a risk since users aren’t protected like they are conventional payment systems. The Secretary added that there is no guarantee system when it comes to Bitcoin. She replicated the state’s previous rhetoric regarding cryptocurrencies, emphasizing the lack of a regulatory framework within the industry. Other concerns about Bitcoin use are related to the fact that it isn’t supervised, and cannot be sanctioned, solidifying the stance that there is a lack of clarity on the nature of Bitcoin. According to a recent report, the Spanish authorities even passed a bill where cryptocurrency owners are required to disclose their crypto holdings and gains on assets.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Spain. 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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68% of retail CFD accounts lose money Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost. It is important to read and understand the risks of this investment, which are explained in detail at this link
eToro
eToro is a social trading platform that allows you to buy into cryptocurrencies, international stocks and shares and more complex financial assets. It also has an innovative Copy Trader feature where you can choose to follow other successful traders and automatically copy their trades to hopefully share in their success
- Fully regulated financial institution
- Trade crypto, stocks and other financial assets
- Follow and copy the trades of expert traders
- Fees (spreads) are high
- Only USD as base currency
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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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