Summary: Securing Bitcoin and other cryptocurrencies in Ireland is a streamlined process, thanks to dependable exchanges that comply with the Central Bank of Ireland's regulations. These regulated platforms facilitate fast deposits of Euros or Pounds via bank transfers or credit card transactions, thereby promoting the secure expansion of digital assets in Ireland.
Our comprehensive evaluation has identified the top 5 digital asset exchanges in Ireland, distinguished for their commitment to security and regulatory compliance, supported cryptocurrencies, range of features and services, live customer support and pricing:
- Regulated with tier-1 regulators across Europe and trusted by over 30 million users.
- Buy, sell and trade over 4,500 Cryptocurrencies, Stocks, ETFs, Commodities and more.
- Fast EUR deposits from Irish banks through Bank Transfer, SEPA, Credit Card and more.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Best Crypto Exchanges in Ireland
Our experts have developed a comprehensive evaluation system to identify the leading exchanges serving Irish investors. This analysis takes into account factors like compliance with the Central Bank of Ireland's regulations, user interface, fee structure, features and services, and the range of available digital assets. Following our detailed assessment, we have identified the top 5 cryptocurrency investment platforms in Ireland.
1. eToro
eToro earns the top spot in Ireland as the best overall exchange due to its simple interface, trading costs, and diverse investment offerings. Its intuitive platform makes the buying and selling of cryptocurrencies like Bitcoin straightforward. It also supports a variety of other assets, including stocks, ETFs and commodities. eToro distinguishes itself with its unique social trading features, allowing users to follow and copy the trades of experienced investors, which is particularly beneficial for those new to the crypto world. Additionally, it supports various payment methods, such as bank transfers and e-wallets, suiting the needs of Irish users.
- Minimum Deposit: €20 for first-time deposit.
- Supported Assets: 4,500+ Cryptocurrency, Stocks, ETFs & Commodities.
- Regulation: Regulated by the Cyprus Securities and Exchange Commission (CySEC).
- 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.
2. Bybit
Bybit is the premier derivatives trading platform in Ireland, offering advanced tools for those looking to engage in futures contracts with up to 25x leverage. It's known for its high liquidity and fast trade execution, making it the best option for traders seeking timely and efficient transactions. The platform is equipped with robust risk management tools, including stop-loss and take-profit features, which are crucial for traders dealing with the volatility of the cryptocurrency markets. Its user-friendly interface, combined with comprehensive customer support, makes it highly accessible for Irish traders.
- Minimum Deposit: €20 for first-time deposit.
- Supported Assets: 1000+ Cryptocurrency.
- Regulation: Registered in Ireland.
- 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.
3. Kraken
Kraken is highly regarded in Ireland for its strong emphasis on security and adherence to regulatory standards. This platform is a top choice for users who prioritise the safety of their digital assets. Kraken employs advanced security measures, including cold storage and two-factor authentication, ensuring a high level of protection against cyber threats. Additionally, its commitment to regulatory compliance provides users with the assurance that they are trading on a platform that upholds legal and ethical standards. It is also one of the few exchanges that regularly audit their reserves to prove all user's funds are backed up.
- Minimum Deposit: €50 for first time deposit.
- Supported Assets: 200+ Cryptocurrency.
- Regulation: Regulated by the FCA.
- Fees: Costs include a 0.26% fee for spot trading, and the maker/taker rebate is 0.02%/0.05%.
4. Gate.io
Gate.io is known in Ireland for offering the most extensive selection of cryptocurrencies. This exchange caters to enthusiasts and investors looking to explore beyond the mainstream coins, providing access to a wide range of over 1700 altcoins. The platform’s interface is designed to accommodate all levels of traders, with advanced charting tools for detailed market analysis. Moreover, Gate.io regularly updates its cryptocurrency offerings, ensuring Irish users have access to the latest and potentially promising digital currencies in the market. Besides trading, it supports staking, lending, and borrowing services.
- Minimum Deposit: €10 for first-time deposit.
- Supported Assets: 1700+ Cryptocurrency.
- Regulation: Not regulated in Ireland.
- Fees: Costs include a 0.1% fee for spot trading and deposits and withdrawals in Euros are completely free of charge.
5. Coinmama
Coinmama is ranked fifth and is particularly favoured for its locality and ease of use. As a crypto exchange based in Ireland, it offers localised services and support that cater directly to the needs of Irish users. The platform simplifies buying and selling digital currencies with fiat currencies, making it an excellent entry point for those new to the crypto world. Its fast transaction processing times, robust security measures, and dedicated customer support make it a strong contender in the Irish digital asset market. The only downsides of this platform are its small selection of tokens, high fees, and lack of features.
- Minimum Deposit: €20 for first-time deposit.
- Supported Assets: 20 Cryptocurrency.
- Regulation: Regulated by the Bank of Ireland.
- Fees: Costs include a 1% fee for buying and trading cryptocurrency and deposits and withdrawals in Euros vary depending on your method.
Is Crypto Regulated in Ireland?
The cryptocurrency sector in Ireland represents a significant and evolving segment of the financial scene, firmly grounded in structured regulation. The Central Bank of Ireland is the key regulatory entity for cryptocurrencies in the country. Its mandate is to oversee the crypto market, striking a balance between fostering the sector's growth and safeguarding Irish investors.
To achieve these objectives, the Central Bank of Ireland enforces a set of rules and standards for cryptocurrency exchanges operating within Ireland. These regulations include measures for Anti-Money Laundering and Counter-Terrorist Financing, aligning with the European Union’s 5th Anti-Money Laundering Directive (5AMLD), to which Ireland, as an EU member state, is committed.
How to Buy Bitcoin in Ireland
For those in Ireland keen to delve into the cryptocurrency realm, eToro is the best option. This platform simplifies depositing EUR through various channels, including bank transfers, credit cards, debit cards, PayPal, and Skrill, effectively aligning with Ireland’s financial systems. eToro features a wide selection of assets, not only including digital currencies like Bitcoin but also offering investments in stocks, ETFs, and commodities.
Here’s your guide to start trading BTC in Ireland:
- Register an Account: Create your account on eToro and complete the necessary identity verification steps.
- Deposit Euros: Go to the 'Deposit Funds' section and add funds to your account using your preferred payment method.
- Find Bitcoin: Use eToro's search tool to locate Bitcoin, then click on the 'Trade' button.
- Invest in BTC: Enter the amount you wish to invest in BTC and hit 'Open Trade' to complete your purchase.
Irish Tax Requirements
In Ireland, the Revenue Commissioners oversee the taxation of cryptocurrencies, applying distinct guidelines for individuals and enterprises. Irish residents holding cryptocurrencies are obliged to report their value for taxation purposes, potentially influencing their liability for capital gains tax. Ireland, unlike some nations, mandates the taxation of capital gains on these digital assets.
For Irish businesses and self-employed individuals, cryptocurrencies are regarded as business assets. This classification means that both income and capital gains taxes are applicable. Profits derived from activities such as mining, staking, or lending are treated as business income and taxed under the appropriate brackets. Additionally, Value Added Tax (VAT) may apply to certain cryptocurrency transactions, following the standard regulations.
Final Thoughts
To conclude, the Irish cryptocurrency landscape presents a robust and regulated environment where investors can securely engage with digital assets. Our comprehensive analysis highlights the top 5 digital currency exchanges in Ireland, each excelling in different aspects, from eToro's overall superiority and straightforward approach to Bybit's specialised futures trading platform, Kraken's unmatched security and regulatory compliance, Gate.io's extensive cryptocurrency selection, and Coinmama's tailored services for Irish users.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
