Summary
Cryptocurrency is legal in Germany, with Bitcoin recognized as a financial instrument. Popular payment methods include SEPA transfers and credit cards. The euro (EUR) is widely supported on crypto platforms. BaFin, Germany’s financial regulatory authority, oversees crypto activities. The country has implemented strict KYC and AML regulations for crypto businesses. Here are the best crypto exchanges for German users:
Best Crypto Exchanges in Germany
Germany has emerged as a significant player in the European cryptocurrency market, with a growing number of investors seeking reliable platforms to trade digital assets. This article examines the top crypto exchanges available to German users, considering factors such as supported cryptocurrencies, trading fees, deposit methods, and compliance with local regulations.
For German investors, SEPA transfers are often the preferred method for depositing euros, offering low fees and quick processing times. Credit card deposits are also widely supported, providing a convenient alternative for those seeking instant funding options.
1. Bitget
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Over 800 cryptos
- Fair trading fees
- Great for EUR SEPA transfers
- 24/7 customer support
- Very beginner friendly
Cons
- Not available in the US
- No TWAP order supported
- Mandatory KYC for new accounts
Overview
Bitget is a true powerhouse for crypto traders from over 100 supported countries. What makes Bitget special is its beginner-friendly trading platform, which has over 800 supported cryptocurrencies. With so many supported cryptocurrencies, if you are looking to trade altcoins, Bitget might be one of your best shots.
With fiat support for 6 currencies, including EUR and RUB, Bitget is a top choice, especially for European users looking to deposit and withdraw funds in their native currency with ease. The 0% fee for SEPA transactions makes Bitget stand out. Credit card payments are also supported.
Experienced crypto traders can trade futures contracts on Bitget with 125x leverage on selected assets such as Bitcoin or Ethereum.
The spot trading fees start at 0.1% for makers and takers, which is very common in the industry. For futures traders seeking leverage for their day trading activities, Bitget charges very low fees of 0.02% maker and 0.06% taker.
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. KuCoin
Users:
30m
Free Demo:
Mobile App:
Bonus
$10,500
Cryptos:
800+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Beginner friendly
- 800+ supported crypto assets
- 125x leverage and deep liquidity
- 20+ fiat currencies
- Great 24/7 customer support
Cons
- Lacks advanced features
- Not the best liquidity
- Regulatory issues in the US
- Variable spot fees
Overview
Kucoin focuses on offering the best spot trading experience. With over 800 supported cryptos on the spot market, Kucoin is one of the most versatile crypto exchanges when it comes to supported assets. You can trade popular cryptos such as Bitcoin or Ethereum but also less-known cryptos and even meme coins. If you are on the hunt for new and shiny coins that are not popular yet, Kucoin might be your best shop.
Spot fees on Kucoin are relatively average, ranging from 0.1% to 0.32% based on the liquidity of the asset. Futures trading on Kucoin starts at a maker fee of 0.02% and a taker fee of 0.06%.
Kucoin has integrated and ready-to-use crypto grid trading bots to automate your income. You can set up grid bots based on several parameters to trade for you 24/7.
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. BloFin
Users:
2m
Free Demo:
Mobile App:
Bonus:
$5,000
Cryptos:
400+
Leverage:
150x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Excellent for trading
- Very beginner friendly
- No KYC required
- 24/7 customer support
- Up to 150x leverage and deep liquidity
Cons
- Not good for passive income products
- Relatively new spot feature
Overview
Founded in 2019, Blofin is a no-KYC exchange where users can trade perpetual futures. With a recently added spot trading feature, as well as Copy trading for customers to enjoy, Blofin has earned a spot as a top contender in the crypto industry.
Blofin users can access 300+ trading pairs with leverage of up to 150x on the futures market. The exchange has a daily trading volume of $12.6 billion for futures trading, making Blofin one of the most active derivatives exchanges. The platform has integrated a user-friendly trading interface for both beginners and expert traders to navigate.
Blofin trading fees are set according to industry standards. For spot trading, a fee of 0.1% is incurred for both maker and taker, while for futures, the maker and taker fee is 0.02% and 0.06%.
What we love about Blofin is its generous VIP fee schedule, which allows traders to reduce their fees based on their 30-day trading volume.
Is Crypto Legal and Regulated in Germany?
Cryptocurrency is legal in Germany, with the country taking a progressive stance on digital assets. In 2020, the German Federal Financial Supervisory Authority (BaFin) officially classified cryptocurrencies as financial instruments, providing a clear regulatory framework for the industry.
Germany has implemented the EU’s 5th Anti-Money Laundering Directive (AMLD5), requiring crypto businesses to obtain licenses from BaFin. This regulation ensures that crypto service providers adhere to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols, enhancing the security and legitimacy of the German crypto market.
The German Money Laundering Act (Geldwäschegesetz) has been updated to include specific provisions for crypto assets, further solidifying the legal status of cryptocurrencies in the country. Additionally, the German Banking Act (Kreditwesengesetz) now recognizes crypto custody as a financial service, requiring providers to obtain authorization from BaFin.
These regulatory measures have positioned Germany as a leader in crypto regulation within the European Union, providing a secure environment for investors while fostering innovation in the blockchain and cryptocurrency sectors.
Is Crypto Taxable in Germany?
Cryptocurrency taxation in Germany is subject to specific rules and regulations. The German Federal Ministry of Finance (Bundesministerium der Finanzen) has provided guidance on how cryptocurrencies are taxed, which varies depending on the nature of the transaction and holding period.
For individual investors, cryptocurrencies held for more than one year are considered tax-free. However, if the assets are sold within one year of acquisition, they are subject to capital gains tax. The tax rate ranges from 14% to 45%, depending on the individual’s total income. Additionally, there’s a tax-free allowance of €600 per year for crypto gains.
Mining and staking rewards are typically considered taxable income and must be reported. The value of the cryptocurrency at the time of receipt is used to calculate the taxable amount. For businesses dealing with cryptocurrencies, the tax treatment depends on the specific activities and corporate structure.
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 Germany.
How to Buy Crypto in Germany
Purchasing cryptocurrency in Germany has become increasingly accessible, with numerous platforms catering to German investors. For those looking to enter the crypto market, we recommend Bitget as a top choice due to its extensive selection of cryptocurrencies and competitive fee structure.
Whether you’re interested in acquiring Bitcoin, Ethereum, or other digital assets, the process of buying crypto in Germany typically follows these steps:
- Select a Crypto Exchange: Choose a trustworthy platform that facilitates euro deposits and adheres to German regulations. Ensure that the exchange offers your preferred payment options and complies with KYC requirements.
- Sign Up and Verify Identity: Register for an account on the selected exchange. Complete the KYC process by submitting required documents, such as a government-issued ID and proof of address, to comply with German AML laws.
- Deposit Funds: Fund your exchange account with euros. Common methods for German users include SEPA transfers, which have low fees and fast processing times. Credit card deposits are also commonly accepted for instant funding.
- Select Cryptocurrency: Decide on the digital asset you wish to buy. Popular choices among German investors include Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT) or USD Coin (USDC).
- Execute Trade: Place a market or limit order to purchase your chosen cryptocurrency. Check the transaction details, including fees and exchange rates, before confirming your purchase.
- Store Funds Securely: After acquiring your crypto assets, consider moving them to a secure wallet for long-term storage. This step is vital for safeguarding your investment against potential security threats on the exchange.
By following these steps and selecting a reliable exchange, German investors can confidently navigate the cryptocurrency market while complying with local regulations and best practices for managing digital assets.
Best Crypto Wallets in Germany
Selecting a secure and user-friendly crypto wallet is crucial for German investors looking to safeguard their digital assets. Here are some top wallet options available to users in Germany:
- Ledger: A leading hardware wallet provider, Ledger offers cold storage solutions like the Nano X and Nano S Plus. These devices provide offline security for a wide range of cryptocurrencies, making them ideal for long-term storage and high-value holdings.
- Trezor: Another reputable hardware wallet manufacturer, Trezor offers models like the Model T and Model One. These devices support numerous cryptocurrencies and integrate with various desktop and mobile applications for enhanced usability.
- Trust Wallet: A popular mobile wallet, Trust Wallet supports a vast array of cryptocurrencies and tokens. It offers features like in-app exchanges and DApp browsing, making it suitable for active traders and DeFi enthusiasts in Germany.
- Exodus: A versatile desktop and mobile wallet, Exodus provides a user-friendly interface and supports over 150 cryptocurrencies. It offers built-in exchange functionality and integrates with Trezor hardware wallets for added security
- MetaMask: A browser extension and mobile wallet, MetaMask is particularly popular among Ethereum and ERC-20 token users. It serves as a gateway to decentralized applications (DApps) and is widely used in the DeFi ecosystem.
When selecting a wallet, German users should consider factors such as security features, supported cryptocurrencies, ease of use, and compatibility with local exchanges. Hardware wallets like Ledger and Trezor offer the highest level of security for long-term storage, while software wallets like Trust Wallet and MetaMask provide convenience for frequent transactions and DApp interactions.
It’s important to note that while these wallets offer robust security features, users must also practice good cybersecurity habits, such as securing private keys, using strong passwords, and being cautious of phishing attempts. By choosing a reputable wallet and following best practices, German crypto investors can ensure the safety of their digital assets while complying with local regulations.
Bottom Line
For German investors seeking the best crypto exchanges, Bitget stands out as our top recommendation, offering a wide range of cryptocurrencies and competitive fees. MEXC follows closely as our second choice, providing high liquidity and numerous trading pairs. These platforms cater to the needs of German users, supporting SEPA transfers and complying with local regulations. By choosing reputable exchanges and following proper security measures, German investors can confidently participate in the growing cryptocurrency market.
