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How to buy Cryptocurrencies in Ireland
For investors looking to buy Cryptocurrencies like Bitcoin and Ethereum in Ireland, you will need to find a licensed and regulated trading platform in Europe. With this method, you will be able to deposit EUR or GBP into a specialist exchange that will allow you to buy, sell, trade, and custody digital assets on one platform.
We recommend the Uphold exchange because they have been a licensed broker in Europe since 2013 and are one of the most trusted platforms in the world. They offer fast and cheap EUR or GBP deposits from Irish banks to trade over 200 digital assets and hundreds of stocks, ETFs, metals and other assets.
You can get started 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 (EUR + 30 more).
- Deposit Funds: Connect your Irish Bank account 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.
Is it Legal to buy Crypto in Ireland?
Yes, it is legal to buy and sell cryptocurrency in Ireland. There are no specific laws or regulations that prohibit the buying or selling of cryptocurrency in Ireland. However, the Irish government has issued guidance on the use of cryptocurrency, stating that it is not a regulated currency and that users should be aware of the risks involved in using it.
It is important to note that while it is legal to buy and sell cryptocurrency in Ireland, you may be subject to taxes on your profits. The Irish Revenue Commissioners have issued guidance on the tax treatment of cryptocurrency transactions, stating that transactions involving cryptocurrency may be subject to capital gains tax or value-added tax (VAT) depending on the circumstances.
What are the Fees to Buy Digital Assets in Ireland
The fees to buy digital assets in Ireland vary between exchanges and trading platforms. Uphold offers some of the cheapest rates for buying Bitcoin and other cryptocurrencies with no Euro (EUR) withdrawal or deposit fees. The only fee to consider are the spreads in the prices, which can average at around 0.5%.
The "Spread" means the difference between the buy and sell price of a cryptocurrency or other digital asset on an exchange. The spread is how exchanges make money, as they are not charging users traditional trading fees like brokerages or robo-advisors.
Best Alternative Exchanges in Ireland
For investors looking to do more due-diligence on the platform they want to use, we have outlined the 5 best alternatives to Uphold in Ireland. Each platform holds the same regulatory licensing as Uphold, which means they are all safe to invest in digital assets. Here are some of our top picks:
- Kraken - One of the oldest and most popular cryptocurrency exchanges in Europe, allowing EUR deposits from Irish banks.
- Coinbase - Popular platform for fiat to crypto exchange in Europe with a global presence.
- Coinmama - Global cryptocurrency broker which supports EUR deposits from Ireland and over 200 countries.
- Bitpanda - Cryptocurrency broker that specializes in buying Bitcoin and Ethereum with EUR deposits from Ireland.
- Bitstamp - European exchange that allows users to buy and sell cryptocurrency with Euros (EUR).
Final Thoughts
Cryptocurrency trading in Ireland is legal and has become increasingly popular over recent years. As the cryptocurrency industry expands, more exchanges are becoming available to Irish investors, allowing them to buy and sell digital assets with Euros (EUR), British Pounds (GBP) and more.
Exchanges like Uphold offer a great way for investors to deposit funds from Irish banks and trade over 200 digital assets with some of the lowest fees in the industry. We recommend researching all crypto exchanges before investing, as there are various fees and regulations that need to be taken into consideration.
