Is Buying Crypto in the Netherlands Legal?
Yes, buying and selling cryptocurrency is legal in the Netherlands. The Dutch government has taken a proactive approach to regulating and supervising cryptocurrency, and has established a framework for the legal use of cryptocurrency in the country. The Dutch Authority for the Financial Markets (AFM) and the Dutch Central Bank (DNB) are responsible for regulating the cryptocurrency market in the Netherlands.
While there are some restrictions on the use of cryptocurrency, such as the prohibition of anonymous transactions, the Netherlands generally has a favourable attitude towards cryptocurrency and its use is allowed within certain limits. It is important to note that while cryptocurrency is legal in the Netherlands, it is not considered to be legal tender, and it is not backed by the government.
How to Buy Crypto and Bitcoin in the Netherlands
As outlined above, the best way to invest in cryptocurrencies in the Netherlands is through the OKX platform. They allow investors to deposit funds from any Dutch bank via SEPA Bank Transfer, iDEAL, Debit Card, Credit Card, Google Pay or Apple Pay. Their exchange is also regulated and licensed in Europe by the Financial Conduct Authority (FCA).
You can get started with a trusted exchange through our simple guide:
- Sign Up: Create an account on OKX and complete your verification.
- Find the Buy Page: Select the 'Buy Crypto' tab in the navigation menu and click 'Third-party Payment'.
- Deposit Funds: Select EUR and the token you want to buy, then choose 'Banxa' as your Service Provider. With this method, you can deposit Euros via SEPA Transfer, IDEAL and other methods.
- Buy Crypto: Input the amount you want to buy and finalise your bank transfer. The crypto will arrive in your OKX wallet in 2-10 minutes.
5 Popular Alternative Crypto Exchanges in the Netherlands
The list below are 5 of the most popular crypto trading platforms and alternatives to our top pick, OKX. All exchanges in the list below hold the requisite regulatory licenses to provide crypto brokerage services to Dutch investors.
- Bitvavo – This is one of the largest and most popular crypto exchanges in the Netherlands, offering users access to over 50 digital assets with low fees, secure storage and a secure platform.
- LiteBit – Based in the Netherlands, this exchange offers a wide range of cryptocurrencies for purchase with different payment methods including iDEAL, MyBank and more.
- Anycoin Direct – This Amsterdam-based exchange offers users the ability to buy several different cryptocurrencies with a variety of payment methods including iDeal, credit cards, bank transfers and more.
- BTCdirect – This Amsterdam-based exchange allows users to buy Bitcoin and other digital currencies with the Euro, credit cards and bank transfer.
- Changelly – This crypto exchange based in Amsterdam allows users to exchange their digital assets for other coins instantly, with no account necessary.
In addition to these exchanges, there are many other crypto exchanges available for investors in the Netherlands. Make sure you do your own research and compare different platforms to find the best one for you. Investing comes with risk so always be aware of potential losses when buying or trading cryptocurrencies.
How is Cryptocurrency Taxed in the Netherlands?
The taxation of cryptocurrency in the Netherlands is determined by the Dutch Tax and Customs Administration. In general, cryptocurrency is treated as property for tax purposes, which means that any gains or losses from the sale or exchange of cryptocurrency are subject to capital gains tax.
However, there may be some exceptions to this general rule, depending on the specific circumstances of the transaction. It's always a good idea to consult with a tax professional to ensure that you are complying with all relevant tax laws.
Is the Netherlands Crypto-Friendly?
Yes, the Netherlands is considered a crypto-friendly country and various banks have already begun implementing blockchain technology into their security protocols. There are even Netherlands-based cryptocurrency exchanges like Bitvavo which was founded in Amsterdam.
Buying digital assets in the Netherlands is easy thanks to the Dutch Authority for the Financial Markets' positive stance toward the asset class. All investors need to do is find a regulated broker that accepts the payment method that they want to use to deposit funds. Overall, we recommend the OKX platform as they are the most convenient and well regulated for investors in the Netherlands and across Europe.