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 Switzerland.
In this article, we will compare and review the best cryptocurrency exchanges in Switzerland to help you find the perfect match for your needs.
Best Cryptocurrency Exchanges in Switzerland for 2023
Social trading platform established in 2007, with almost 30 million users. The platform offers traditional financial instruments and cryptocurrencies (60+).
Crypto exchange established in 2017 with an extensive offer of tokens, competitive trading fees, staking, access to DeFi markets, a crypto debit card, besides many other financial services related to crypto.
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.
American crypto exchange, founded in 2012 with over 89 million users. The exchange is known for its simplicity. It allows you to buy and sell over 100 different cryptocurrencies.
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.
|Exchange||Minimum deposit||Number of crypto supported||Staking available||Crypto card available||Insurance against theft|
Best Cryptocurrency Exchanges in Switzerland Reviewed
77% of retail CFD accounts lose money.
eToro at a glance
eToro was founded in 2007 and expanded into the crypto market in 2013. 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. Although eToro does not have a Swiss subsidiary, it is available in the country through the European entity in Cyprus, making it one of the best crypto exchanges in Switzerland.
The broker offers a selection of 60+ crypto assets, which include the most popular cryptocurrencies, such as Bitcoin, Ethereum, or BNB. One benefit of using eToro to trade crypto is the possibility to stake investments and receive monthly rewards for holding assets, earning a passive income while investing in crypto. According to the eToro staking program rules, 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 bought in the platform to your eToro money crypto wallet, which will allow you to move the asset however you want.
eToro is not registered in Switzerland, but it is regulated by the CySEC and FCA. This provides for integrity and safety, but when investing in crypto, your investment will not be protected by any investor scheme, which means that if the broker goes bankrupt, there is no guarantee that you will recover the amount invested. However, unlike the other exchanges in this list, eToro offers traditional financial products, which makes it under regulators’ scrutiny and mitigates the risk of bankruptcy.
If you want to know more about the platform, don’t forget to read our eToro review!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Binance at a glance
Binance, established in 2017, quickly became one of the largest cryptocurrency exchanges in the world. Initially founded in China, the exchange relocated to Malta in 2018 to operate in a more crypto-friendly environment. Over the years, Binance has built a strong reputation for its innovative financial services, a vast selection of cryptocurrencies, and commitment to security.
The exchange caters to investors with all levels of expertise. It has simplified and pro versions, which allows you to choose if you want to access simple or advanced trading tools and features. Its interface is user-friendly, and the fees are extremely competitive. Among other features, Binance allows you to invest in crypto derivatives, stake your crypto, access liquidity pools, borrow money using crypto as collateral, access DeFi apps, participate in a referral program, and more. Additionally, if you hold the Binance native token BNB, you will be able to receive additional rewards and reduce trading costs.
As Binance continues to expand its global footprint, it is taking large steps to comply with different regulations and requirements in various jurisdictions. Currently, Binance is registered as a Virtual Asset Service provider in many countries within the EU: France (AMF – E2022-037), Italy (OAM – PSV5), Lithuania (local FIU – 305595206), Spain (Bank of Spain – D661), Cyprus (CySEC – 002/22) and Poland (Chamber of Poland in Katowice – RDWW – 465). Since the country has a crypto-friendly legislation, there is no clear indication that Binance is trying to get a Swiss license at the moment.
Binance adheres to strict Anti-Money Laundering (AML) and consumer protection policies, providing a secure trading environment for its users. Moreover, Binance offers the Secure Asset Fund for Users (SAFU), an emergency insurance fund that protects users’ funds in case of unforeseen security breaches, mitigating one of the risks of the crypto business. With all of these features, Binance is a strong option when choosing the best crypto exchanges in Switzerland. But remember: if the exchange goes bust, your investments will not be protected by any insurance scheme.
Crypto.com at a glance
Crypto.com is a platform founded in 2016 with more than 80 million users from 90 different countries. It has become a popular choice among Swiss users due to its variety of services that allow investors to access financial services. Crypto.com is one of the best and safest crypto exchanges in Switzerland: 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 protect your investment in crypto from the risk of bankruptcy.
Among the many services offered by the exchange, we can highlight a few. Crypto.com gives you access to a safe crypto wallet, allows you to create a crypto savings account, and use a visa card to use your cryptocurrencies to pay for products and services on a day-to-day while earning rewards for it. The platform is also famous for its NFT marketplace, which is developed and easy to navigate. 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.
If you are a beginner, you may be overwhelmed by the platform’s interface, but a platform with low fees and an extensive list of services and assets must certainly be featured in a list of the best crypto exchanges in Switzerland.
Coinbase at a glance
Coinbase is a cryptocurrency exchange founded in 2012 with more than 100 million users worldwide. The platform combines a user-friendly interface with a large offer of cryptocurrencies for the user to buy and sell. It also provides a massive library of information about cryptocurrencies, focusing on beginner education. Any user with limited knowledge of computers can use both the online website and the apps for Android or iOS, which makes it an excellent choice for beginners. Advanced traders can use Coinbase Pro, which contains advanced features not present in the regular platform.
The exchange provides “learn & earn” programs that will pay you rewards in crypto to learn about cryptocurrencies and Fintech. It is known for its simplicity and security, but, on the downside, it has slightly higher transaction fees than its competitors. Still, it is a solid option for investors, and its advantages put it in fourth place on our list of the best crypto exchanges in Switzerland.
The company is not licensed in Switzerland, but it is authorized and regulated in the UK by the FCA as an electronic money institution (license 900635). Your crypto holdings will still not be protected by any investment scheme, but at least your cash balance will be protected by a depositor scheme, due to its segregation. In any case, Coinbase abides by strong anti-money laundering measures and offers cold storage and multi-signature wallets, which enhances the security of your investments. Additionally, there is a crime insurance that protects a portion of your digital currencies against theft and cybersecurity breaches.
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 provides staking services which are similar to a locked savings account. With the right cryptocurrency choice, you could earn 10%+ in interest. It’s an ideal choice for traders who wish to earn a passive income from their holdings.
The company is committed to transparency and security, and they offer a combination of cold storage and multi-signature wallets that protect user funds. It is regulated in the UK, which obliges the exchange to comply with strong anti-money laundering rules. However, there is no protection or insurance for the investments in case the exchange goes bust.
How to choose the Best Crypto App in Switzerland
There are many aspects you should consider when choosing the best crypto exchange in Switzerland to make your investments. Some of the features you should consider are the following:
- Safety and Regulation: all the exchanges presented are licensed and regulated in Switzerland.
- 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 Switzerland
|#2||Binance||Best for advanced tools and DeFi|
|#3||Crypto.com||Best for NFTs and crypto card|
|#4||Coinbase||Best for beginners|
|#5||Kraken||Best for strong customer support|
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 Switzerland, and we want to help your decision.
Please consider each of the unique strengths and advantages of the exchanges, always thinking of your needs and preferences. Cryptocurrencies are highly volatile and unregulated in Switzerland. 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 all options in this list are a few of the best exchanges for beginners, although they have their unique strengths and differences.