Summary: The leading cryptocurrency exchanges in Spain are recognized for their regulatory compliance and oversight by the Bank of Spain. By complying with rigorous regulations and undergoing comprehensive assessments by impartial financial institutions, these platforms ensure the highest level of security for Spanish investors and their assets.
After completing a detailed assessment of the top options in the country, our team has identified the best 5 digital asset exchanges in Spain. Each one offers user-friendly interfaces, a diverse selection of trading and investment options, reasonable fee structures and maintains regulatory compliance with the relevant Spanish financial regulators.
- Bank of Spain registered crypto broker with over 30 million users.
- Buy, sell and trade over 4,500 Cryptocurrencies, Stocks, ETFs and more.
- Instant Euro deposits from Spanish banks via bank transfer, debit card 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 Spain
Finding your way through the range of cryptocurrency platforms can be an overwhelming task. Our expert team has rigorously evaluated over 20 exchanges in Europe, identifying the top 5 options for Spanish investors. We've carried out comprehensive reviews for each, assessing their strong points and highlighting areas for improvement. Here's a clear and detailed guide to the best 5 digital asset exchanges for residents of Spain.
1. eToro
eToro takes the top spot as the best overall exchange in Spain for many reasons. Known for its user-friendly interface, it offers a wide range of financial instruments, including stocks, ETFs, and commodities, in addition to a diverse selection of cryptocurrencies. eToro is popular for its social trading feature, which allows users to follow and copy the trades of successful investors. The platform also supports multiple payment methods, including bank transfers, credit cards, and e-wallets like PayPal and Skrill. It can also be used entirely in Spanish and provides 24/7 support in the language, making it convenient for investors in Spain.
- Minimum Deposit: €50 for first time deposit.
- Supported Assets: 4,500+ Cryptocurrency, Stocks, ETFs & Commodities.
- Regulation: Regulated by the Bank of Spain.
- 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 ranks second, specifically catering to institutional investors in Spain. The platform offers advanced features, including futures and margin trading with up to 5x leverage. Kraken is known for its strong security protocols, including cold storage for the majority of its digital assets and undergoing regular external audits to show that all user's funds are backed on a 1:1 basis. With a wide range of supported cryptocurrencies and fiat currencies, it offers the flexibility that institutional investors seek. Additionally, it provides detailed market analysis and insights, plus an OTC desk for clients with high monthly trading volume, making it a comprehensive choice for professional traders.
- Minimum Deposit: €20 for first time deposit.
- Supported Assets: 200+ Cryptocurrency.
- Regulation: Regulated by the Bank of Spain.
- Fees: Costs include a 0.26% fee for spot trading and the maker/taker rebate is 0.02%/0.05%.
3. Bybit
Bybit is popular for its extensive range of cryptocurrency investment and trading options with over 1100 tokens available to buy, sell, trade and stake. The platform specializes in derivatives and offers a variety of futures and perpetual contracts with up to 100x leverage on select contracts. It is also known for its high liquidity, ensuring smooth trading even during volatile market conditions. With features like the mutual insurance fund to mitigate losses and a customizable trading interface, Bybit offers a unique and advanced trading experience for those looking to diversify their crypto portfolio. The platform can be used in Spanish and live customer support is available in the language.
- Minimum Deposit: €10 for first-time deposit.
- Supported Assets: 1100+ Cryptocurrency.
- Regulation: Registered with the Bank of Spain.
- 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. Binance
Binance claims the fourth spot, making it the top platform for beginners in Spain. Known for its intuitive interface and educational resources, Binance makes it easy for beginners to navigate the complex world of cryptocurrency trading. The platform offers a wide range of over 350 tokens and includes features like staking, savings, and even a launchpad for new tokens. With lower fees and a user-friendly mobile app, it provides an ideal entry point for those new to trading. As a global exchange, it also provides a Spanish interface and customer service in the language. It accepts a wide range of local payment methods, catering to the crypto market in Spain.
- Minimum Deposit: €50 for first-time deposit.
- Supported Assets: 350+ Cryptocurrency.
- Regulation: Regulated by the Bank of Spain.
- 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.
5. Bit2Me
Bit2Me is the largest Spanish cryptocurrency exchange. Tailored to meet the needs of the local market, it offers services like instant EUR deposits through popular Spanish payment methods like Bizum. The platform supports a variety of cryptocurrencies and also offers additional services like Bit2Me Academy, an educational platform to help Spaniards understand the nuances of digital currency. With a focus on customer service and compliance with Spanish financial regulations, it offers a localized and reliable trading experience.
- Minimum Deposit: €100 for first-time deposit.
- Supported Assets: 210 Cryptocurrency.
- Regulation: Regulated by the Bank of Spain.
- Fees: Costs include 0.95% for buying or selling a cryptocurrency, variable fees for deposits, and a $5 withdrawal fee to bank accounts.
Is Cryptocurrency Regulated in Spain?
Yes, cryptocurrency is regulated in Spain under the supervision of the Bank of Spain and the Comisión Nacional del Mercado de Valores (CNMV). This authority requires that all virtual asset service providers (VASPs), such as crypto exchanges and digital wallet services, must register and adhere to Anti-Money Laundering (AML) regulations to operate within the nation.
For VASPs located in the EU, they can function through a registered branch in Spain. However, for those VASPs outside the EU, setting up a local subsidiary is necessary to fulfill these registration mandates. These rules are part of Spain's wider initiatives to ensure a safe landscape for crypto transactions, as detailed in Law 10/2010 of April 28 on the Prevention of Money Laundering and a 2022 directive from the Spanish Ministry of Economy and Business.
How to Buy Bitcoin in Spain
For those in Spain interested in securely investing in cryptocurrency, we recommend eToro. The platform allows for immediate EUR deposits via multiple channels such as bank transfers, SEPA, credit cards, debit cards, PayPal, and Skrill. It supports a variety of asset classes, including digital currencies like Bitcoin, along with other financial instruments such as stocks, ETFs, and commodities.
To buy, sell, and trade BTC, you can follow this guide:
- Create Account: Register with eToro and meet the verification prerequisites.
- Deposit Euros: Select 'Deposit Funds' and transfer money into your account.
- Search for Asset: Use the search feature to find Bitcoin and click the 'Trade' button.
- Invest in BTC: Specify the amount you'd like to invest and hit 'Open Trade'.
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Spanish Crypto Tax Requirements
The Spanish Tax Agency, known as Agencia Tributaria, has set forth guidelines that explain the tax responsibilities for both individuals and businesses engaging in cryptocurrency transactions. For individual taxpayers, using crypto for personal transactions is not subject to IVA (Impuesto sobre el Valor Añadido or Value Added Tax).
If you're trading cryptocurrencies as an individual, you'll need to consider capital gains tax. These gains are incorporated into your total income and are subject to the standard personal income tax rates, which vary from 19% to 47%, based on your income level. It's worth mentioning that capital losses can be counterbalanced against capital gains, but these losses cannot be set against other types of income.
Final Thoughts
The Bank of Spain's oversight adds a layer of security for crypto investors. Our analysis highlights the top 5 exchanges catering to diverse needs. eToro is the best overall, known for its user-friendly interface and diverse asset offerings. The other top options include Kraken, tailored for institutional investors, Bybit specializes in a wide range of cryptocurrencies, Binance is beginner-friendly, and Bit2Me focuses on the local Spanish market.
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.
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