Summary: In Bulgaria's dynamic financial ecosystem, the adoption of blockchain technology marks a significant stride toward modernization and economic development. The country is seeing the rise of platforms that comply with the stringent regulations of the Bulgarian Financial Supervision Commission (FSC), guaranteeing a secure and diverse investment realm within a regulated framework.
This analysis highlights the top 5 cryptocurrency exchanges in Bulgaria, recognized for their robust security measures, compliance with local financial laws, support for a broad spectrum of digital currencies, transparent fee structures, and unique offerings.
- Buy and trade over 1070 cryptocurrencies on spot and futures markets.
- Free and instant Bulgarian Lev (BGN) deposits via SEPA and bank transfers.
- Proof-of-reserves showing users assets are held on a 1:1 basis.
Best Crypto Exchanges in Bulgaria
Our team developed a unique approach to assess Bulgaria's premier digital asset exchanges. We prioritize critical elements such as compliance with the Bulgarian Financial Supervision Commission (FSC) regulations, security track records, transparent reserves, pricing models, functionalities, and the range of cryptocurrencies available. Dive into our in-depth analysis of Bulgaria's leading digital currency investment platforms.
1. Bybit
Bybit takes the top spot as the best overall cryptocurrency exchange in Bulgaria. With its user-friendly interface and a wide range of over 1060 cryptocurrencies to trade, it is the perfect platform for traders of all experience levels. It offers perpetual contracts and futures trading with high leverage of up to 25x on certain contracts, which caters to the demands of advanced traders. The platform's security measures and regularly updated proof of reserves showing users' assets are backed on a 1:1 basis make it an appealing option for investors who prioritize transparency and safety. Furthermore, Bybit's excellent customer support ensures that users in Bulgaria receive assistance quickly and efficiently.
- Minimum Deposit: 20 BGN for first-time deposit.
- Supported Assets: 1060+ Cryptocurrency.
- Regulation: Registered in Bulgaria.
- 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 BGN are completely free of charge.
2. Binance
Binance, as the second-ranked cryptocurrency exchange in Bulgaria, serves as the best alternative to Bybit. It is known for its comprehensive range of 350 cryptocurrencies and pairs, making it an excellent platform for diversifying investments. Its low trading fees and highly efficient trading engine make it a favorable choice. Its commitment to innovation, demonstrated by the regular introduction of new features and services, keeps users engaged and places it as a formidable alternative to the first-ranked exchange. Besides trading crypto, Binance offers staking services, an NFT marketplace, a crypto debit card, lending and borrowing features, plus more.
- Minimum Deposit: 100 BGN for first-time deposit.
- Supported Assets: 350+ Cryptocurrency.
- Regulation: Registered in Bulgaria.
- Fees: Costs include a 0.1% fee for spot markets, 0.02% for maker orders, and 0.06% fee for taker orders on futures markets. Deposit and withdrawal fees vary depending on the method.
3. Uphold
Uphold stands out in Bulgaria as the best platform for multi-asset trading. The exchange offers an extensive selection of over 250 cryptocurrencies, plus traditional assets such as commodities and currencies. This versatility allows users to diversify their portfolio beyond crypto assets, making it highly appealing to investors with varied investment interests. The seamless integration of traditional financial markets with crypto on a single platform simplifies the trading experience, making Uphold the top choice for multi-asset trading in Bulgaria. It is also one of the only exchanges globally to undergo weekly external audits to show that all user's funds are held 1:1 on the platform.
- Minimum Deposit: 200 BGN for first-time deposit.
- Supported Assets: 300+ Cryptocurrency, Forex & Commodities.
- Regulation: Regulated in Bulgaria.
- Fees: Costs include 1% for buying or selling a cryptocurrency, and deposit fees vary depending on the payment method.
4. Bitstamp
Ranking fourth in Bulgaria, Bitstamp is regarded as the best European trading platform. As one of the oldest and most reputable exchanges in the cryptocurrency space, Bitstamp has built a strong reputation for reliability and transparency and has been operating since 2011. It is the third oldest digital asset exchange in the world and boasts over 10 million users. Its regulatory compliance within the European Union, combined with a straightforward user interface and competitive fees, makes it particularly attractive to Bulgarian traders who prefer a European platform. Additionally, Bitstamp’s selection of fiat-to-crypto trading pairs is highly appreciated by users.
- Minimum Deposit: 80 BGN for first-time deposit.
- Supported Assets: 250+ Cryptocurrency.
- Regulation: Registered in Bulgaria.
- Fees: Costs include a 1.5% fee for trading. Deposits and withdrawals in BGN vary between 0.5% - 3% depending on the payment method.
5. Crypto.com
Crypto.com claims the fifth position in Bulgaria as the best exchange for NFT (Non-Fungible Tokens) and DeFi (Decentralized Finance) products. The platform’s diverse selection of NFTs and its integration with various DeFi protocols have made it an essential hub for users interested in these emerging sectors. The exchange offers unique features such as NFT drops and collaborations with artists and celebrities, attracting enthusiasts and collectors. Additionally, its DeFi wallet allows users to earn interest on crypto assets and engage with DeFi protocols effortlessly. Crypto.com's commitment to the NFT and DeFi spaces positions it as the top platform for these products in Bulgaria.
- Minimum Deposit: 180 BGN for first-time deposit.
- Supported Assets: 200+ Cryptocurrency.
- Regulation: Registered in Bulgaria.
- Fees: Costs include a 2% fee for trading spot markets. Deposits and withdrawals in BGN vary between 1% - 4% depending on the method.
Is Cryptocurrency Regulated in Bulgaria?
Bulgaria's approach to managing cryptocurrency regulation is characterized by a balanced and innovative perspective, distinguishing it from countries with ambiguous regulatory frameworks. The Bulgarian National Bank (BNB) and the Financial Supervision Commission (FSC) are at the forefront of supervising digital currencies, aligning them with Bulgaria's financial standards.
The nation's regulatory bodies are exploring the potential of blockchain technology and its integration into the economic ecosystem. This positions Bulgaria as a progressive player in the field of cryptocurrency regulation in Europe. The attitude towards digital currencies in Bulgaria is progressively positive, mirroring their increasing acceptance and utilization worldwide.
How to Buy Bitcoin in Bulgaria
For Bulgarian investors keen on exploring the digital currency world, Bybit stands out as a top pick due to its user-friendly interface. This exchange supports deposits in Bulgarian Lev (BGN), accommodating a range of payment options, including bank transfers, debit, and credit cards. Bybit is renowned for its extensive selection of tokens, offering access to over 1000 digital assets, including Bitcoin.
To acquire Bitcoin in Bulgaria, follow these simple steps:
- Account Creation: Register for a Bybit account and complete the essential verification steps to ensure a safe and compliant trading environment.
- Deposit Method: Navigate to the 'Buy Crypto' section and select a deposit method that suits your preferences and financial requirements.
- Bitcoin Acquisition: Choose 'BGN' as your deposit currency and select Bitcoin as the cryptocurrency you wish to invest in, consistent with your investment goals.
- Transaction Completion: Enter the amount you wish to invest in Bitcoin and finalize your purchase by selecting 'Buy.'
Bulgarian Tax Requirements
In Bulgaria, the National Revenue Agency (NRA) is responsible for the taxation of cryptocurrencies, providing clear guidelines for both individuals and businesses engaged in crypto transactions. Bulgarian citizens involved in trading or investing in digital currencies must report these activities, which may affect their tax obligations. Unlike some regions, Bulgaria applies capital gains tax to profits made from cryptocurrency trading.
For companies and freelancers in Bulgaria, digital assets are considered taxable assets, subject to income tax and, in certain cases, Value-Added Tax (VAT). Revenue generated from activities like mining, staking, or lending cryptocurrencies is deemed taxable. Moreover, specific transactions involving cryptocurrencies might be VAT-applicable in accordance with Bulgarian tax laws.
Final Thoughts
To summarize, the increase in cryptocurrency interest among Bulgarian investors is significantly fueled by the existence of credible exchanges. Among these platforms, Bybit leads with its wide cryptocurrency offerings, low fees, multiple BGN deposit methods, 24/7 customer support, multiple order types, and high liquidity. Other top contenders for Bulgarian investors include Uphold, Binance, Bitstamp and Crypto.com.
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.
