Is buying Crypto legal in Denmark?
Yes, it is legal to buy cryptocurrencies in Denmark. There are no specific regulations regarding the purchase or sale of cryptocurrencies. However, Crypto is subject to Danish tax law. Crypto is considered an asset and is subject to capital gains tax. For more information, please consult a professional tax advisor that specializes in digital assets in Denmark.
How to buy Crypto in Denmark
The best way to buy crypto in Denmark is with a licensed cryptocurrency broker in the EU. With this method, you will be able to deposit EUR from a bank account, debit card, or credit card to trade and custody digital assets. We recommend Uphold because they offer the fastest and cheapest EUR deposits for Europeans to trade thousands of different assets.
You can get started buying Crypto or Bitcoin with this simple guide:
- Sign Up: Create an account on Uphold and complete your verification (personal or company).
- Connect Account: Select the currency you want deposit on the Uphold Platform (DKK, EUR + 30 more).
- Deposit Funds: Connect your Bank account in Denmark to quickly deposit your selected fiat currency.
- Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
Fees to buy Digital Assets in Denmark
If you are interested in buying Cryptocurrencies in Denmark, you may want to know the fees and costs involved. Fortunately, when using a platform like Uphold you pay very few fees throughout your onboarding journey. For example, there are no deposit fees on the platform to deposit via SEPA or Bank Transfer in Europe.
The only fee users will need to consider is the trading fee, which is low and variable depending on the spread (average of 0.5%). This is low compared to industry competitors like Coinbase which charge a flat rate of 1.99% for trades, and 2.99% for EUR deposits due to the conversion fees required to swap to USD on the platform.
What are the Best Alternative & Regulated Platforms?
If you are investor looking to do deeper due diligence on the exchange you want to onboard with, we have listed the 5 best alternative below. Each platform has similar regulatory compliance, however few of them show real-time audited proof of reserves like Uphold. Here are our top 5 alternatives for Denmark:
- Coinbase - Coinbase is one of the largest global exchanges, with a large selection of coins and tokens.
- Bitpanda - Bitpanda is an Austrian exchange that offers a wide variety of cryptos for both trading and investing.
- Kraken - Kraken is another well-known crypto exchange, offering low fees and multiple cryptocurrencies.
- Binance - Binance is a popular trading platform, which offers a variety of coins and tokens.
- Bybit - Bybit is a Singapore based cryptocurrency exchange offering leverage up to 100 X on crypto trading.
Is Crypto popular in Denmark?
Yes, cryptocurrency is gaining popularity in Denmark. Cryptocurrency trading volume in Denmark has tripled since early 2017, according to data from Bitcoinity.org. The Danish Central Bank released a report in August 2017 that concluded that "it is not currently possible to accurately assess the size and development of the use of virtual currencies in Denmark." However, the report noted that "a large part" of the trading volume of virtual currencies in Denmark is likely due to speculative investments.
Cryptocurrencies are gaining acceptance in Denmark, and the government is taking steps to ensure that trading is conducted in a safe and legal manner. If you’re ready to get started buying cryptocurrency in Denmark, we recommend using Uphold, as they offer the lowest fees and fastest access to trading digital assets with Danish Krone (DKK) or Euro (EUR).