Today, there are many different exchanges and platforms available when it comes to trading cryptocurrencies in Europe and the rest of the world. However, some of them are significantly better than the rest. In this guide, we will introduce you to the best exchanges and platforms. Multiple parameters have been considered when choosing entries for this list such as: beginner friendliness, ease of deposit, ease of withdrawal, and fee structure. We know that many newcomers really want to find the best exchange or platform, which is why we have focused on the aforementioned parameters.
If you have never heard about Coinbase, it is time that you hear about it. Coinbase is probably the easiest cryptocurrency exchange and platform for beginners. Why? Because their platform is so easy to use and you can purchase bitcoin and other currencies with a credit card or debit card. The fees for this are around 4%, but you can reduce them to something much lower by using bank transfer as a deposit method. Coinbase was one of the first major providers to gain huge popularity among small investors that like to use apps for investing. In 2017 when bitcoin really spiked for the first time, they had so many new user applications that you had to wait for a month to get your account approved. Today, it is much faster.
It is also possible to use Coinbase Pro (formerly known as GDAX) to carry out your cryptocurrency trades. Coinbase Pro is the advanced platform and you can execute more advanced order types. The most important thing is that you gain access to much lower fees when using Coinbase Pro. Deposit by payment card is not possible, which is why the fees are so low. Coinbase and Coinbase Pro can be used by Danish users as SEPA-transfers have become much easier to make in Denmark in recent years. If you are from Denmark, you might benefit from reading a Coinbase guide and review in Danish.
The best part about Coinbase is the fact that you can withdraw your cryptocurrencies and use them for trading on other platforms or for payments.
Most people have heard about eToro by now. They advertise a lot on social media and on YouTube. If you have watched any crypto-related video in the last week or two, you have most likely seen one of their ads.
There are some mixed opinions about eToro, but most people do agree on the fact that eToro is just as easy or even easier to use than Coinbase. Back in the day, you were not able to withdraw crypto from eToro, as you were trading CFDs, but today when executing a buy order, you are actually buying the underlying asset. This means that you will be able to withdraw your purchased cryptocurrencies from eToro.
While eToro does not have any fees or commissions, they do charge a spread. This spread is 0.75% for bitcoin, which is much lower than Coinbase. So, if you want to buy bitcoin in Europe, you might as well use eToro. They are easy to use, and the spread is lower than on Coinbase if not using Coinbase Pro. Another good thing about eToro is the fact that you can do short selling. Short selling means that you sell bitcoin without having it. When short selling you are actually trading CFDs, so you need to make sure that you understand how those work before you start trading them.
So, if you would like to open long and short positions on cryptocurrencies in a very easy way, eToro is definitely the way to go in Europe. They are regulated by CySEC in Cyprus. Buying and selling bitcoin in an easy way does not mean that there is no risk, just that you do not need some technical knowledge in order to execute the trades.
Does Coinbase not do it for you? BitPanda is definitely a good alternative, and their fee structure is very similar. The platform is easy to use and you can create an account very fast. KYC is done through video call through one of their partners. It is possible to top up your account with credit card, debit card, SEPA, and many other local European payment methods.
BitPanda offers some unique products and services that you cannot find anywhere else on our list of the best exchanges and platforms for cryptocurrency trading in Europe. You are able to buy and sell precious metals such as gold and silver and even invest in crypto indices. This is not possible on eToro nor Coinbase.
If you are looking for a Coinbase alternative and would like to invest in precious metals, BitPanda is definitely a good place to start. Please note that you are also able to invest in precious metals on eToro.
While using SEPA transfer and credit cards to buy crypto is very convenient, it may not be a possibility for everyone. Therefore we are including Paxful. On this website, you can trade your gift card codes for cryptocurrencies. Most people buy Amazon gift cards in physical stores with cash and then sell them for crypto in order to buy bitcoin anonymously in Europe.
It is worth noting that when you convert an Amazon gift card to bitcoin, you lose 10 to 20 percent. No one is willing to buy your Amazon gift card for the full price. It is the price to pay for anonymity. In some cases, you might be able to find a good offer, but that is the exception rather than the rule. Please also note that there are many people trying to scam you on such platforms. It is important to be very careful. Only deal with reputable sellers and preferably not new sellers.
We hope that you have learned something about the best cryptocurrency platforms and exchanges in Europe. If you have any questions, you can leave a comment below.