In a world where cryptocurrencies are becoming increasingly significant, investors must find secure and reliable platforms to buy, sell, and store their assets. The crypto market is risky, volatile, unregulated, and often lacks consumer protection. Moreover, there is a growing number of exchanges available, which makes selecting the right one a daunting task.
To choose the ideal platform, investors need to be wary of scams and understand the differences, unique strengths, weaknesses, and reliability of the different platforms, considering that there is no investor protection in case the exchange goes bust. Since we have the experience and the expertise to help you, we tried to summarize the information you need to make an informed decision when choosing the best crypto exchange in Spain.
In this article, we will compare and review the best cryptocurrency exchanges in Spain to help you find the perfect match for your needs.
Best Cryptocurrency Exchanges in Spain for 2023
Social trading platform established in 2007, with almost 30 million users. The platform offers traditional financial instruments and cryptocurrencies (60+).
With over 250 types of cryptocurrencies, Crypto.com offers diverse financial services related to cryptocurrencies, such as a crypto debit card and a comprehensive NFT marketplace.
Kraken is the fifth-largest Bitcoin exchange globally, according to trade volumes. The exchange is regulated by the FinCEN in the USA and is operational in over 200 countries, including Spain.
Trusted cryptocurrency exchange founded in the US, which is known for its robust security measures and strict regulatory compliance, offering a variety of digital assets for trading.
Best Cryptocurrency Exchanges in Spain Reviewed
eToro at a glance
eToro was founded in 2007 and expanded into the crypto market in 2013, quickly becoming one of the best crypto exchanges in Spain. It is the leading social trading platform in the world, allowing investors to discuss the world of crypto and copy other traders’ strategies, including professional traders. eToro supports Euro deposits, but the amount will be automatically converted to USD when the funds arrive in the account (a currency exchange of, at least, 0.50% of your deposit value applies).
The broker offers a selection of 60+ crypto assets which include the most popular cryptocurrencies, such as Bitcoin, Ethereum, or BNB. When using eToro to trade crypto, you can stake your investments in crypto, which basically means that you can hold the assets for a certain period and receive monthly rewards for doing so, earning a passive income. According to the eToro staking program rules, at the moment it is possible to stake Cardano, Tron, and Ethereum. The reward is paid out in the same token that is being staked, and its yield will vary based on the monthly sum of the new tokens received by all eligible staking users.
Its web-based and mobile-based apps are very intuitive and easy to use. There are great educational resources, webinars, and the social trading features can be great for investors of all levels. Additionally, it is possible to easily withdraw the cryptocurrencies to your eToro money crypto wallet, which will allow you to freely move the asset however you want.
eToro operates in Spain through eToro (Europe), authorized and regulated by the CySEC as a financial services provider. Besides, it is registered within the EU as a Digital Assets Service Provider in France, Italy, and the Netherlands. But please note that your investment in crypto will not be protected by any investment scheme, which means that if the broker goes bankrupt, there is no guarantee that you will recover the amount. However, since eToro offers traditional financial products, including commission-free stocks, it is under the regulators’ scrutiny, which mitigates its risk of bankruptcy.
eToro offers a user-friendly, cheap, and functional platform, which is a great start to our list of the best crypto exchanges in Spain. If you want to know more about the broker, don’t hesitate to read our eToro review.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost. It is important to read and understand the risks of this investment, which are explained in detail at this link.
Crypto.com at a glance
Crypto.com, founded in 2016, is an exchange with more than 80 million users from 90 different countries. The platform has gained popularity as one of the best crypto exchanges in Spain due to its variety of services that allow investors to earn passive income and access financial services. It is licensed in Malta as a Virtual asset Service Provider, which makes it reliable and compliant with anti-money-laundering rules, although it does not offer protection for your investments.
Similar to Binance, Crypto.com stands out as one of the best crypto exchanges in Spain for its extensive list of services. Users can earn interest on their crypto holdings, have access to a safe crypto wallet, create a crypto savings account, and access a visa card to use cryptocurrencies to pay for products and services while earning rewards for it. The platform is also known for its user-friendly NFT marketplace. Moreover, if you hold the platform’s native utility token Cronos (CRO), you can lower your fees and earn higher rewards when using your crypto debit card.
Although beginners may find the platform’s interface overwhelming initially, the low fees and comprehensive list of services and assets could still make Crypto.com an attractive option. As a reliable and versatile platform, Crypto.com is certainly worth considering among the best crypto exchanges in Spain!
Kraken at a glance
Founded in 2011, Kraken is one of the oldest and most reputable crypto exchanges in the world. You can trade a wide range of cryptocurrencies with low fees (up to 0.26%), have access to 24/7 customer support via live chat, and enjoy high-security standards. It offers educational resources for beginners and experts: there are detailed “Crypto Guides”, videos, and even a podcast, which are excellent tools to help investors make informed decisions.
Kraken offers more than 180 crypto assets, and staking services that allow investors to receive a passive income, great customer service, and top-notch security. When staking your investments in Kraken, with the right cryptocurrency choice, you could earn up to 10%+ in interest.
The company is committed to transparency and security, and they offer a combination of cold storage and multi-signature wallets that protect user funds. Although it is registered in Italy as a Virtual Asset Service Provider, which obliges the exchange to comply with strong anti-money laundering rules, there is no protection for the investments in case the exchange goes bust. Nevertheless, for those seeking a solid, safe, and trustworthy exchange, Kraken stands out as a reliable choice among the best crypto exchanges in Spain.
Gemini at a glance
Founded in 2014, Gemini is a US-based cryptocurrency exchange with more than 13 million active users. It is known for its strict regulatory compliance and robust security measures, making it a trusted choice for investors seeking a secure platform. The exchange provides more than 100 cryptocurrencies, and it is regulated by the New York State Department of Financial Services, the FCA, and the Central Bank of Ireland.
Gemini offers a variety of unique features that cater to different types of investors. For instance, it provides staking services with up to 8% APY, allowing users to earn passive income on their crypto holdings. Additionally, the platform offers a crypto credit card with up to 3% cashback, making it appealing to those who want to use their cryptocurrencies for everyday purchases. It also offers the Gemini Dollar: a safe and regulated stablecoin that is fully backed by cash or cash equivalents, which can be appealing if you are looking for a stable and reliable crypto asset.
Although Gemini has slightly higher fees and a medium-sized range of cryptocurrencies available, it is a safe and reliable option for investors of all levels, and it is a great way to end our list of the best crypto exchanges in Spain.
How to choose the Best Crypto App in Spain
There are many aspects you should consider when choosing the best crypto exchange in Spain to invest in. Some of the features you should consider are the following:
- Safety and Regulation: all the exchanges presented are licensed and regulated in the EU.
- Range of cryptocurrencies available to trade: you must assess whether the platform offers a wide range of crypto assets or only the most established ones.
- Fees: exchanges may charge above-average prices for buying, selling, or swapping cryptocurrencies.
- User interface and ease of use.
- Deposits: how can you top up your wallet in the exchange? Is there a minimum deposit amount?
- Services offered: exchanges offer different types of services. If you want to take on riskier investments, maybe you could consider using exchanges that allow you to trade derivatives. If you need to be able to use your cryptocurrency investments to make payments in your day-to-day life, an exchange that has a crypto debit or credit card may be more useful. If you want to hold your assets for a long period, maybe look for exchanges that will pay you higher rates for staking.
The bottom line
To sum it up, these are our top picks:
Best crypto platforms in Spain
The world of cryptocurrency trading is exciting and filled with opportunities. However, choosing the right exchange is critical to ensuring a positive experience and protecting your digital assets to avoid scams and unsafe platforms. In this article, we reviewed the best crypto exchanges in Spain to help make an informed decision.
Please consider each of the unique strengths and advantages of the exchanges, keeping in mind your needs and preferences. Cryptocurrencies are highly volatile and partially unregulated in Spain. There is little to no consumer protection and your investment will not be protected as it would be if you would buy stocks. Besides, remember that tax on profits may apply!
Take your time to do more research and evaluate the platforms. Stay informed and stay safe! We hope that this article was informative, and we wish you the best of luck in your investments!
What is a crypto exchange?
A crypto exchange is an online marketplace where you can trade cryptocurrencies for other cryptocurrencies, digital money, fiat money, or many other tokens, such as NFTs. Typically, crypto exchanges are centralized, similar to stock exchanges. These platforms will work as intermediaries that match transactions between buyers and sellers, offering you more safety when selling or purchasing cryptocurrencies. Crypto exchanges may also be decentralized. In this case, the platform will use blockchain technology to facilitate the exchange of your asset with another party without the intervention of the platform.
What are the best crypto exchanges for beginners?
We believe that most options in this list are within the best exchanges for beginners, although they have their unique strengths and differences.