How to Buy Cryptocurrency in Spain

Buying 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

Open a Binance Account

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

Brand

Coins

Security

Usability

App

Service

Open a eToro Account

67% of retail CFD accounts lose money. Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. US Residents - eToro USA LLC does not offer CFDs, only real Crypto assets available.

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 have 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

Pros

Fully regulated financial institution
Trade crypto, stocks and other financial assets
Follow and copy the trades of expert traders

Cons

Fees (spreads) are high
Only USD as base currency

Brand

Coins

Security

Usability

App

Service

Open a CoinCorner Account

CoinCorner

Based in Isle of Man. Over 200,000 customers with min deposit as little as £5. Simple site for getting into Bitcoin.

Pros

Simple user interface
Autobuy feature for regular crypto saving / DCA
You can earn Bitcoin on your shopping with their browser extension

Cons

Limited range of coins
No e-wallet feature
No live chat support

Open a Bitfinex Account

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

Brand

Coins

Security

Usability

App

Service

Open a OKEx Account

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

Brand

Coins

Security

Usability

App

Service

Open a Kucoin Account

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.

Pros

Vast selection of altcoins
Ability to stake & earn crypto yields
Robust security features
No forced KYC checks

Cons

No fiat currency deposits
Trading volume is low

Open a Changelly Account

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