How to Buy Cryptocurrency in Switzerland
Buying cryptocurrency in Switzerland
Zug, a Swiss canton, teamed up with a local firm called Bitcoin Suisse to convert cryptocurrency tax payments into national currency – Swiss francs. Following the Swiss authorities’ announcement in 2020, citizens and Zug-based companies are now able to pay up to 100,000 CHF (which is around $111,300) of taxes in Bitcoin or ether. The canton was also dubbed “Crypto Valley” because many companies were drawn to its friendly attitude towards cryptocurrencies and blockchain. Over a short period of time, over a 200 companies started operating in Zug, generating millions in revenue and creating job vacancies. The reason why Switzerland is the top pick for investors and crypto companies is because of its leading infrastructures in various industries, including technological innovation. Even though Bitcoin sparked controversy worldwide because of its association with illegal activities and money laundering, Switzerland recently amended its legislation to accept cryptocurrencies and blockchain technologies into the system.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Switzerland. 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
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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