How to Buy Cryptocurrency in Sweden
Buying cryptocurrency in Sweden
Sweden is one step away from completely eliminating cash from its society. In December of 2020, the country’s central bank (Riksbank) announced a review which will research the possibility of introducing a central bank digital currency (CBDC). A former chairwoman of the Riksbank’ finance committee, Anna Kinberg Batra, will lead the study. It is estimated that the study will end in November 2022. The country’s transition to digital currency has only been accelerated by the pandemic. Furthermore, the Riksbank estimated that cash usage is currently very low in Sweden (less than 10%), making it an ideal candidate for the world’s first cashless society. The transition could’ve also been accelerated because of hacks and frauds. For example, QuickBit, a Swedish digital currency exchange, reported a data breach on their customer databases in 2019. Nevertheless, Sweden is determined to fully explore what effects the issuing of a CBDC might have on its economy.
As of 20/03/2021
These exchanges all accept customers from Sweden. 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 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
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
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