Summary: In Finland, leading cryptocurrency exchanges distinguish themselves through rigorous adherence to Finland's robust regulatory framework, governed by the Finnish Financial Supervisory Authority (FIN-FSA). By complying with Finland's comprehensive regulations and undergoing scrupulous assessments by impartial financial entities, these platforms assure maximum security, conformity with national laws, and dependability for Finnish investors and their assets.

Our examination has pinpointed the top 5 digital asset exchanges in Finland, each marked by their user-friendly interfaces, supported EUR deposit methods, range of features and services, diverse investment options, and competitive pricing structures.

  1. eToro - Best Overall Exchange in Finland
  2. Bybit - Best Derivatives Trading Exchange
  3. Bitpanda - Best for Multi-Asset Trading
  4. Kraken - Best for Institutional Investors
  5. Gate.io - Best No KYC Crypto Exchange
Table of Contents

Best Crypto Exchanges in Finland

‍In our pursuit to pinpoint premier cryptocurrency trading venues for Finnish investors, we've devised a ranking approach that evaluate the best options. This includes features, costs, safety measures, EUR deposit methods, and compliance with the Finnish Financial Supervisory Authority (FIN-FSA). Our skilled team employed this technique, scrutinizing several options across Europe, culminating in the selection of the best five exchanges in Finland.

1. eToro

eToro secures the top spot as Finland's best overall cryptocurrency exchange, largely due to its user-friendly interface and versatile trading options. Catering to both beginners and experienced traders, eToro stands out for its social trading feature, which allows users to mimic the strategies of successful traders, fostering an interactive and educational environment. It offers a diverse range of cryptocurrencies, along with stocks, ETFs and commodities, making it a one-stop shop for diversified investment portfolios. As a globally accessible platform, it can be used in several languages, which includes Finnish, making it perfect for investors in Finland.

  • Minimum Deposit: 100 EUR for first time deposit.
  • Supported Assets: 4,500+ Cryptocurrency, Stocks, ETFs & Commodities.
  • Regulation: Regulated by the CySEC in Europe.
  • Fees: Costs include 1% for buying or selling a cryptocurrency, conversion fees for EUR to USD, as all trades are made in US Dollars, and a $5 withdrawal fee to bank accounts. There are no monthly or maintenance charges on the exchange.
eToro - Best Overall Exchange in Finland.
eToro - Best Overall Exchange in Finland.

2. Bybit

Bybit is the best alternative exchange in Finland due to its wide array of features, secure trading environment, and comprehensive cryptocurrency offering with thousands of coins to trade. It was founded in 2018 and is based in Singapore but it offers services to over 160 countries globally and supports 20 languages and 40+ fiat currencies. The exchange supports over 1000 cryptocurrencies and offers powerful trading tools, including futures trading with up to 25x leverage, plus spot and options markets. Bybit is built on cutting-edge technology that allows for fast transaction speeds, a crucial factor in volatile markets. 

  • Minimum Deposit: 10 EUR for first-time deposit.
  • Supported Assets: 1000+ Cryptocurrency.
  • Regulation: Registered by the FIN-FSA.
  • Fees: Costs include a 0.1% fee for spot trading, 0.01% fee for maker orders, and 0.06% for taker orders on futures markets. Deposits and withdrawals in Euros are completely free of charge.
Bybit - Best Derivatives Trading Exchange.
Bybit - Best Derivatives Trading Exchange.

3. Bitpanda

Bitpanda holds the third position, the best option for multi-asset trading. The platform offers various assets, including cryptocurrencies, stocks, indices, precious metals, and ETFs, making it a hub for diverse investment options. Their user-friendly interface allows seamless navigation, making trading various assets quick and easy. Its competitive fees, robust security measures, and excellent customer service have been integral to its high ranking. Additionally, the exchange provides complete transparency in its assets and undergoes a monthly external audit by KPMG, proving that all user's assets are held 1:1 on the platform and are not being lent out.

  • Minimum Deposit: 50 EUR for first-time deposit.
  • Supported Assets: 250+ Cryptocurrency & 3,000+ Stocks, ETFs & Commodities.
  • Regulation: Regulated in Finland.
  • Fees: Costs include a 1.5% fee for spot trading, deposits vary depending on the method, and weekly storage fees apply, varying from 0.0125% - 0.025%.
Bitpanda - Best for Multi-Asset Trading.
Bitpanda - Best for Multi-Asset Trading.

4. Kraken

Kraken is recognized as the best exchange for institutional investors in Finland. Its robust platform offers features that meet the complex needs of institutional investors, such as futures and margin trading, OTC services, and a high liquidity order book. It also ensures high-level security, a necessity for large-scale investors. The exchange also offers institutional accounts with additional features, such as priority service and higher funding limits, making it a preferred choice among professional investors. Aside from trading, it provides access to staking with APY to 25%. It also offers an NFT marketplace where you can trade all of the popular projects.

  • Minimum Deposit: 50 EUR for first time deposit.
  • Supported Assets: 200+ Cryptocurrency.
  • Regulation: Regulated in Finland.
  • Fees: Costs include a 0.26% fee for spot trading, and the maker/taker rebate is 0.02%/0.05%.
Kraken - Best for Institutional Investors.
Kraken - Best for Institutional Investors.

5. Gate.io

Gate.io is known as the best no KYC cryptocurrency exchange. The absence of a mandatory KYC process means users can start trading faster and with fewer barriers while maintaining secure transactions. It supports a broad range of cryptocurrencies, providing features like staking, lending and borrowing services. Its excellent security measures and reliable customer service strengthen its position as a top platform in Finland. Gate.io currently supports over 1700 cryptocurrencies to trade on spot, futures, and options markets. It also has an NFT marketplace and copy trading, which allows users to mimic the trades of successful investors.

  • ‍‍‍Minimum Deposit: 20 EUR for first-time deposit.
  • Supported Assets: 1700+ Cryptocurrency.
  • Regulation: Not regulated in Finland.
  • Fees: Costs include a 0.1% fee for spot trading and deposits and withdrawals in EUR are completely free of charge
Gate.io - Best No KYC Crypto Exchange.
Gate.io - Best No KYC Crypto Exchange.

Is Cryptocurrency Regulated in Finland?

Finland has emerged as a key player in the realm of crypto regulation and utilization on a global scale. In this Nordic nation, cryptocurrencies are acknowledged as legal assets, with Finnish authorities recognizing them as valid forms of payment in various transactions. The regulation of digital assets in Finland falls under the purview of the Finnish Financial Supervisory Authority (FIN-FSA), which is responsible for enforcing regulations pertaining to financial markets and institutions within the country.

How to Buy Bitcoin in Finland

‍In Finland, for those seeking to delve into the world of cryptocurrency, eToro stands as a top recommendation. This platform facilitates seamless Euro deposits through diverse means like bank transfers, credit cards, debit cards, PayPal, and Skrill. It opens the gateway to various asset types, including digital currencies like Bitcoin, along with other investment opportunities such as stocks, ETFs, and commodities.

Follow these steps to begin trading Bitcoin through eToro.

  1. Set Up Account: Register on eToro and fulfill all required verification procedures.
  2. Add Euros: Opt for 'Deposit Funds' and transfer money into your account.
  3. Search for Bitcoin: Utilize the search tool to find Bitcoin, then click on the 'Trade' button.
  4. Proceed with Bitcoin Investment: Specify the amount you wish to invest and click 'Open Trade' to finalize your purchase.
Buy Bitcoin in Finland via eToro.
Buy Bitcoin in Finland via eToro.

Finnish Tax Requirements

In Finland, the Finnish Tax Administration (Vero Skatt) manages the taxation policies for cryptocurrencies. Individuals in Finland who own digital assets are required to declare their value in annual tax filings as part of their net wealth. While capital gains from the sale of cryptocurrencies are taxable, it's noteworthy that capital gains from long-term holdings can benefit from favorable tax treatments.

Conversely, business entities and independent professionals in Finland must account for cryptocurrencies as part of their business assets. This means that profits gained from activities like mining, staking, or lending are subject to income tax under business revenue. Additionally, certain types of cryptocurrency transactions may attract VAT obligations. Those seeking comprehensive guidance on Finnish cryptocurrency tax regulations should refer to Vero Skatt’s official directives or consult with a tax expert for personalized advice.

Final Thoughts

To sum up, Finland's cryptocurrency landscape is marked by a strong regulatory framework, overseen by the Finnish Financial Supervisory Authority (FIN-FSA), ensuring a secure and compliant environment for digital asset trading. The top five cryptocurrency exchanges in Finland, eToro, Bybit, Bitpanda, Kraken, and Gate.io, excel in offering diverse, user-friendly services, catering to the specific needs of Finnish investors. 

From eToro's inclusive platform ideal for beginners and experts alike, to Gate.io's streamlined process without KYC requirements, each exchange presents unique features and robust security measures, aligning with Finland's commitment to regulated and innovative financial solutions. This well-rounded ecosystem not only provides Finnish investors with reliable platforms for their cryptocurrency endeavors.