Summary: In Malta, the safeguarding and management of Bitcoin and other digital currencies have become increasingly efficient and reliable, in line with the Malta Financial Services Authority's rigorous standards. The country's exchanges offer seamless integration with the Euro, allowing for swift and secure deposits through bank transfers or credit card payments. This advancement bolsters the growth and stability of the crypto market in Malta.
Our in-depth analysis highlights the top 5 cryptocurrency exchanges in Malta, each renowned for their adherence to stringent security protocols and regulatory compliance, the diversity of cryptocurrencies they support, their features and services, and pricing structures.
- Regulated by the Malta Financial Services Authority (MFSA).
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Instant EUR deposits from Maltese Banks via SEPA transfer and credit card.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Best Crypto Exchanges in Malta
Our team has meticulously crafted a robust evaluation framework to find the leading exchanges catering to investors in Malta. This evaluation emphasizes adherence to the Malta Financial Services Authority's guidelines, user interface, pricing, features, and the diversity of digital currencies offered. After our thorough review, we have determined the top 5 digital cryptocurrency trading platforms in Malta.
1. eToro
eToro leads in Malta primarily for its unique social trading platform, where users can copy the trades of successful investors, making it particularly attractive for beginners. Its multi-asset offerings include a variety of cryptocurrencies, stocks, commodities, and ETFs, providing a diversified portfolio option. eToro also features a virtual trading account for practice, robust risk management tools, and adheres to stringent regulatory standards. Its user-friendly mobile app and detailed educational resources further enhance the overall trading experience. Its commitment to regulatory compliance and strong security measures further cements its position as the premier choice for Maltese investors.
- Minimum Deposit: €50 for first-time deposit.
- Supported Assets: 3,000+ Cryptocurrency, Stocks, ETFs, Indices, Forex & Commodities.
- Regulation: Regulated by the Malta Financial Services Authority (MFSA).
- 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. Kraken
Kraken secures the second spot in Malta mainly for its exceptional asset transparency and robust security protocols. This exchange is known for providing detailed information about its digital asset holdings, giving users a clear insight into the company’s financial health and asset management strategies. The platform provides extensive details about its reserve holdings by undergoing regular third party audits, ensuring user confidence. It offers advanced trading features like spot and futures trading, margin trading with competitive leverage options, and detailed reporting tools for tracking investments.
- Minimum Deposit: €50 for first time deposit.
- Supported Assets: 200+ Cryptocurrency.
- Regulation: Regulated by the MFSA.
- Fees: Costs include a 0.26% fee for spot trading, and the maker/taker rebate is 0.02%/0.05%.
3. Bybit
Bybit ranks third in Malta, specializing in cryptocurrency derivatives trading. It offers perpetual and futures contracts with high leverage up to 100x on select contracts, catering to experienced traders. Its trading engine is renowned for its high throughput and low latency, ensuring swift trade execution. The platform also features advanced charting tools, a customizable interface, and real-time market insights. Its 24/7 customer support and continuous platform updates keep it at the forefront of derivatives trading. Bybit is particularly favored for its intuitive design, high liquidity, and advanced order types.
- Minimum Deposit: €20 for first-time deposit.
- Supported Assets: 910+ Cryptocurrency.
- Regulation: Registered in Malta with the MFSA.
- 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.
4. KuCoin
KuCoin's diverse range of altcoins positions it fourth in Malta. The platform supports over 200 cryptocurrencies, including numerous small-cap altcoins and memecoins, making it ideal for niche market trading. It offers spot trading, futures trading, a built-in P2P exchange, and unique features like crypto lending and staking. Its simple interface is coupled with an advanced API, catering to both beginner and professional traders. The KuCoin Bonus and referral program add additional value for its users. This exchange is perfect for those seeking to diversify their portfolios with lesser-known coins.
- Minimum Deposit: €10 for first-time deposit.
- Supported Assets: 700+ Cryptocurrency.
- Regulation: Not regulated in Malta.
- Fees: Costs include a 0.1% fee for spot trading. Deposits and withdrawals vary depending on the payment method.
5. Binance
Binance earns the fifth rank in Malta, particularly for being the most beginner-friendly exchange. Its platform strikes an excellent balance between ease of use and advanced functionality. Binance offers a vast range of educational resources, making it ideal for newcomers to the cryptocurrency world. Besides a wide range of cryptocurrencies, Binance also provides features like spot trading, futures trading, and a secure wallet, all designed to support and enhance the trading journey for beginners. The platform also offers features like staking, an NFT marketplace, and Binance Earn for passive income.
- Minimum Deposit: €20 for first-time deposit.
- Supported Assets: 350+ Cryptocurrency.
- Regulation: Not registered in Malta.
- Fees: Costs include a 0.1% fee for spot markets and 0.02% for maker orders, and 0.06% fee for taker orders on futures markets. Deposit and withdrawal fees vary depending on the method.
Is Crypto Regulated in Malta?
The cryptocurrency landscape in Malta stands as a dynamic and integral part of the nation's financial framework, operating under well-defined regulatory controls. The Malta Financial Services Authority (MFSA) plays a crucial role as the primary regulator for cryptocurrencies in Malta. Its responsibility involves monitoring the crypto market to ensure a harmonious balance between encouraging the industry’s growth and protecting Maltese investors.
To fulfill these goals, the MFSA implements a comprehensive set of regulations for cryptocurrency exchanges in Malta. These regulatory measures encompass Anti-Money Laundering and Counter-Terrorist Financing provisions, in line with the European Union’s 5th Anti-Money Laundering Directive (5AMLD). As a proactive member of the EU, Malta is dedicated to upholding these directives to ensure a secure and transparent crypto environment.
How to Buy Bitcoin in Malta
For those in Malta looking to explore the world of cryptocurrency, eToro stands out as a leading choice. This platform facilitates the deposit of EUR through multiple methods, including bank transfers, credit cards, debit cards, PayPal, and Skrill, aligning seamlessly with Malta's financial ecosystem. eToro offers an extensive range of assets, including cryptocurrency, indices, traditional currencies, stocks, ETFs, and commodities.
Here's your step-by-step guide to start trading BTC in Malta:
- Register an Account: Sign up on eToro and complete the required identity verification process.
- Deposit Euros: Navigate to the 'Deposit Funds' section and transfer funds to your account using your chosen method.
- Locate Bitcoin: Utilize eToro's search function to find Bitcoin, then select the 'Trade' button.
- Invest in BTC: Specify the amount you want to invest in BTC and click on 'Open Trade' to finalize your acquisition.
Maltese Tax Requirements
In Malta, the Malta Financial Services Authority (MFSA) and the Commissioner for Revenue set forth the taxation policies for cryptocurrencies, with specific guidelines for individuals and businesses. Maltese residents possessing cryptocurrencies are required to declare their value for tax purposes, which may affect their capital gains tax obligations. Unlike some jurisdictions, Malta enforces the taxation of capital gains on these digital assets.
For Maltese businesses and self-employed persons, cryptocurrencies are considered as part of their business assets. As such, both income and capital gains taxes are applicable to them. Revenue generated from activities like mining, staking, or lending cryptocurrencies is categorized as business income and is subject to taxation according to relevant tax bands. Moreover, Value Added Tax (VAT) may be levied on certain transactions involving cryptocurrencies, in line with existing VAT rules.
Final Thoughts
To wrap up, Malta's cryptocurrency landscape presents a thriving and regulated environment, bolstered by the Malta Financial Services Authority's (MFSA) commitment to maintaining a secure and transparent market. The top five cryptocurrency exchanges in Malta are eToro, Kraken, Bybit, KuCoin, and Binance.
They each bring unique strengths to the table, ranging from eToro's social trading platform and diverse asset offerings to Kraken's asset transparency and Bybit's specialized derivatives trading. KuCoin's extensive selection of altcoins and Binance's beginner-friendly platform further enrich the Maltese crypto ecosystem. These exchanges not only align with Malta's regulatory framework, but also offer a variety of services and features.
I fell into crypto during the 2017 mania and have been around ever-since. I now write, research and publish my own reports on the digital asset ecosystem.
