Summary
Cryptocurrency is legal in Finland, with supportive regulations for digital assets. Popular payment methods include bank transfers and credit cards. The euro (EUR) is widely supported on crypto platforms. The Finnish Financial Supervisory Authority (FIN-FSA) oversees crypto regulations, implementing EU directives. Finland’s progressive stance on cryptocurrencies has fostered a thriving crypto ecosystem, making it an attractive market for investors and traders seeking the best crypto exchanges in Finland.
Best Crypto Exchanges in Finland
Finland has emerged as a prominent player in the cryptocurrency market, with a growing number of exchanges catering to Finnish investors. These platforms offer a range of services tailored to the local market, including support for the euro (EUR) and popular Finnish payment methods such as bank transfers and credit cards.
When selecting a crypto exchange in Finland, it’s crucial to consider factors such as supported cryptocurrencies, trading fees, deposit methods, and compliance with local regulations. The following table provides a comprehensive overview of the top crypto exchanges available to Finnish users:
1. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
2. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
200x
Spot Fees:
0.02%
Futures Fees:
0%/0.02%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 200x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 200x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
3. North Crypto
Users:
1m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
10+
Leverage:
Not Supported
Spot Fees:
0.1%/0.1%
Futures Fees:
Not Supported
Pros
- Licensed and regulated in Finnland
- Very user-friendly
- Affordable trading fees
- Very reliable platform
Cons
- Lacks advanced features
- Only 10 supported cryptos
- No Demo trading offered
North Crypto Overview
North Crypto is a Finland-based cryptocurrency exchange known for its simplicity and security. It caters to beginners by offering an easy-to-use interface while maintaining a strong focus on security, including cold storage for assets. The platform supports a limited selection of major cryptocurrencies, such as Bitcoin and Ethereum, making it suitable for those who prefer simplicity over a wide range of options.
As of right now, North Crypto supports the buying and selling of BTC, ETH, SOL, LTC, LINK, AAVE, MATIC, APE, DOGE, and USDC. While the selection is limited to only the biggest and most popular cryptocurrencies, it is still sufficient for traders seeking a long-term Bitcoin portfolio.
The North Crypto platform has a transparent fee structure, with a 0.1% trading fee for both makers and takers, which is the average rate in the industry. However, the exchange doesn’t offer leverage or advanced trading tools, focusing mainly on spot trading.
4. Coinbase
Users:
100m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
250+
Leverage:
5x
Spot Fees:
0.4%/0.6%
Futures Fees:
0.02%/0.05%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Coinbase Overview
Coinbase is one of the largest and most well-known cryptocurrency exchanges for buying cryptos.The platform currently has a user community of over 100 million users worldwide. What makes Coinbase special is its user-friendly interface. The platform is designed to be easy to use, making it accessible for beginners. Coinbase offers a clean and intuitive interface for buying, selling, and managing cryptocurrencies.
Crypto traders have access to over 250 cryptos for active trading. One downside of Coinbase is the fee structure. When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee of 0.60%, which is very expensive.
Another thing about Coinbase is that it offers a wide range of crypto services. These include wallets, NFT, crypto staking, Coinbase cards, and many more to help improve the overall trading experience on the platform. One of our favorite features is the Coinbase wallet.
It is suitable for beginners but also offers advanced trading tools including real-time charts, technical indicators, and many more for advanced traders.
5. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
Is Crypto Legal and Regulated in Finland?
Cryptocurrency is legal in Finland, and the country has adopted a progressive approach to digital assets. The Finnish Financial Supervisory Authority (FIN-FSA) is the primary regulatory body overseeing cryptocurrency activities in the country. Finland implements European Union (EU) directives on cryptocurrency regulation, including the 5th Anti-Money Laundering Directive (AMLD5).
In 2019, the Finnish Parliament passed the Virtual Currency Service Providers Act, which requires cryptocurrency exchanges and wallet providers to register with FIN-FSA. This legislation aims to prevent money laundering and terrorist financing while promoting transparency in the crypto industry. The act also mandates that service providers conduct proper customer due diligence and report suspicious transactions.
Finland’s tax authorities have provided clear guidelines on cryptocurrency taxation, treating digital assets as capital assets for tax purposes. The country’s regulatory framework strikes a balance between fostering innovation and ensuring consumer protection, making Finland an attractive destination for cryptocurrency businesses and investors.
For more information on cryptocurrency regulations in Finland, visit the FIN-FSA’s official page on virtual currency providers.
Is Crypto Taxable in Finland?
Cryptocurrency is subject to taxation in Finland, with the Finnish Tax Administration (Vero) providing clear guidelines on how digital assets are treated for tax purposes. Crypto transactions are primarily taxed as capital gains, similar to other investment assets.
When selling or exchanging cryptocurrencies, Finnish residents are required to pay capital gains tax on the profits. The tax rate is 30% for capital income up to €30,000 and 34% for any amount exceeding this threshold. It’s important to note that losses from cryptocurrency transactions can be deducted from capital gains, but only from the same type of capital income.
Mining income is typically treated as earned income and taxed at progressive rates. For individuals engaged in professional trading activities, profits may be taxed as business income rather than capital gains.
The Finnish Tax Administration has implemented specific reporting requirements for cryptocurrency transactions. Taxpayers must report all crypto-related income and losses on their annual tax returns, providing detailed information about each transaction.
For more information on cryptocurrency taxation in Finland, visit the Finnish Tax Administration’s guide on virtual currencies.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Finland.
How to Buy Crypto in Finland
Purchasing cryptocurrency in Finland is a straightforward process, thanks to the country’s well-established crypto ecosystem. For Finnish residents looking to enter the world of digital assets, we recommend using Bybit, our top-rated exchange for its user-friendly interface, competitive fees, and robust security measures.
Whether you’re interested in buying popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) or exploring other altcoins, follow these steps to start your crypto journey:
- Select a Crypto Exchange: Choose a reputable platform that supports euro (EUR) deposits and complies with Finnish regulations. Verify the exchange’s payment methods and KYC requirements.
- Sign Up and Verify Identity: Create an account on the chosen exchange and complete the verification process. This typically involves submitting identification documents to comply with Finnish KYC regulations.
- Deposit Funds: Add euros to your account using popular Finnish payment methods. Bank transfers via SEPA are widely supported and often offer lower fees. Credit card deposits are also available for quicker transactions.
- Select Cryptocurrency: Decide which digital assets to purchase. Besides Bitcoin and Ethereum, consider other popular options like Tether (USDT), Ripple (XRP), or Cardano (ADA).
- Execute Trade: Place a buy order for your chosen cryptocurrency. You can opt for a market order for immediate execution at the current price or a limit order to set your desired purchase price.
- Store Funds Securely: After completing your purchase, transfer your cryptocurrencies to a secure wallet. For long-term storage, consider using a hardware wallet for enhanced security.
By following these steps and choosing a reliable exchange, Finnish investors can confidently enter the cryptocurrency market while ensuring compliance with local regulations.
Best Crypto Wallets in Finland
Selecting a secure and user-friendly crypto wallet is crucial for Finnish cryptocurrency investors. Here are some top wallet options suitable for users in Finland:
- Ledger: A popular hardware wallet brand offering robust security features. Ledger devices support a wide range of cryptocurrencies and integrate with various software interfaces.
- Trezor: Another reputable hardware wallet provider known for its user-friendly design and strong security measures. Trezor wallets are compatible with numerous cryptocurrencies and third-party services.
- Trust Wallet: A versatile mobile wallet supporting multiple blockchains and decentralized applications (dApps). Trust Wallet offers a built-in exchange and staking features for certain cryptocurrencies.
- Exodus: A user-friendly software wallet available for desktop and mobile devices. Exodus supports a wide range of assets and includes a built-in exchange feature for convenient trading.
- MetaMask: A popular browser extension and mobile wallet primarily focused on Ethereum and ERC-20 tokens. MetaMask is essential for interacting with decentralized finance (DeFi) applications.
When choosing a wallet, consider factors such as security features, supported cryptocurrencies, and ease of use. Hardware wallets like Ledger and Trezor offer the highest level of security for long-term storage, while software wallets like Trust Wallet and Exodus provide convenience for frequent transactions. Always ensure you follow best practices for wallet security, including backing up your recovery phrase and using two-factor authentication when available.
Bottom Line
Finland’s progressive stance on cryptocurrencies has created a thriving environment for digital asset investment. For those seeking the best crypto exchanges in Finland, Bybit stands out as our top recommendation, offering a comprehensive platform with competitive fees and a wide range of supported assets. MEXC follows closely as our second choice, providing an extensive selection of cryptocurrencies and user-friendly features. Both exchanges cater to Finnish users with EUR support and compliant operations, making them excellent options for entering the crypto market securely and efficiently.
