Summary
In Ireland, cryptocurrency is legal but not considered legal tender. The Central Bank of Ireland oversees crypto regulations. Popular payment methods include SEPA transfers and credit cards. The Euro (EUR) is widely supported on exchanges. Key regulatory bodies include the Central Bank and the Revenue Commissioners. Ireland follows EU crypto regulations, including MiCA. Here are the best crypto exchanges in Ireland:
Best Crypto Exchanges in Ireland
This article examines the top crypto exchanges available to Irish residents. We’ll explore factors such as supported cryptocurrencies, trading fees, and deposit methods tailored for the Irish market. The Euro (EUR) is the primary currency for these platforms, with SEPA transfers being a preferred payment method due to its efficiency and low costs for Irish 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:
300x
Spot Fees:
0.05%
Futures Fees:
0.01%/0.04%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 300x 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 300x 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. 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.
4. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
5. Gemini
Users:
30m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
76+
Leverage:
20x
Spot Fees:
0.25%/0.35%
Futures Fees:
0.02%/0.07%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
Cons
- Lacks advanced features
- Very high spot trading fees
- Only 20x leverage and 76 cryptos
Gemini Overview
Gemini is a cryptocurrency exchange and custodian known for its strong emphasis on regulatory compliance and security.
The platform prioritizes security and employs various measures to protect user funds and data. These include two-factor authentication (2FA), cold storage, hardware security keys, and regular security audits. Gemini also offers insurance for digital assets held in its custody.
Gemini functions primarily as a spot trading platform, offering access to over 76 cryptos for active trading. Trading fees are set at 0.25% for makers and 0.35% for takers.
What makes Gemini stand out is its wide range of crypto services. Aside from spot trading, Gemini offers, Custody services, Gemini Earn, Gemini Pay, Active Trader, and many more to help users earn passive income and improve the overall trading experience on the platform.
Is Crypto Legal and Regulated in Ireland?
In Ireland, cryptocurrency is legal but not recognized as legal tender. The regulatory landscape is evolving, with the Central Bank of Ireland overseeing crypto regulations. Ireland follows the European Union’s stance on cryptocurrencies, adhering to the Markets in Crypto-Assets (MiCA) regulation.
The Central Bank of Ireland requires Virtual Asset Service Providers (VASPs) to register and comply with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations. This aligns with the EU’s Fifth Anti-Money Laundering Directive (5AMLD).
The Irish Revenue Commissioners have issued guidance on the tax treatment of cryptocurrencies, indicating that existing tax laws apply to crypto transactions. This regulatory framework aims to protect consumers and maintain financial stability while allowing for innovation in the crypto sector.
Is Crypto Taxable in Ireland?
Cryptocurrency is subject to taxation in Ireland. The Irish Revenue Commissioners have provided guidelines on how crypto transactions are taxed. Capital Gains Tax (CGT) applies to profits from selling or exchanging cryptocurrencies, with a rate of 33% on gains exceeding €1,270 annually.
For businesses, crypto transactions may be subject to Corporation Tax, Income Tax, or VAT, depending on the nature of the activities. Mining rewards are typically treated as miscellaneous income and taxed accordingly. The tax treatment can vary based on whether the individual is considered a trader or an investor.
It’s important to note that crypto-to-crypto transactions are also taxable events in Ireland. Accurate record-keeping of all crypto transactions is crucial for tax compliance.
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 Ireland.
How to Buy Crypto in Ireland
Purchasing cryptocurrency in Ireland is a straightforward process. We recommend using Bybit for its user-friendly interface, competitive fees, and wide range of supported cryptocurrencies. Whether you’re interested in Bitcoin, Ethereum, or other digital assets, here’s a step-by-step guide to get you started:
- Choose a Crypto Exchange: Select an exchange that allows deposits and withdrawals in Euros (EUR). Make sure to check the available payment methods and their KYC (Know Your Customer) requirements.
- Create an Account and Verify Your Identity: Sign up for an account and complete the identity verification process. This usually involves providing proof of identity and your residential address.
- Fund Your Account: Add Euros to your exchange account. In Ireland, SEPA transfers are a favored option due to their low fees and rapid processing. Many exchanges also support credit card deposits.
- Pick Your Cryptocurrency: Determine which digital currency you wish to buy. Common options include Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT).
- Place Your Order: Execute a market or limit order to acquire your selected cryptocurrency at your preferred price.
- Secure Your Assets: After purchasing, consider moving your cryptocurrencies to a personal wallet for added security.
Always take fees into account and compare rates on various platforms to ensure you are getting the best offer. It’s wise to start with small investments until you feel confident with the trading process.
Best Crypto Wallets in Ireland
For Irish crypto enthusiasts, selecting a secure wallet is crucial. Hardware wallets like Ledger and Trezor offer top-tier security for long-term storage. These devices store your private keys offline, providing protection against online threats.
For everyday transactions, software wallets like Trust Wallet and Exodus offer convenience and support for multiple cryptocurrencies. They’re accessible via smartphones or desktop computers, making them ideal for frequent traders.
Irish users interested in DeFi applications often opt for MetaMask, a browser extension wallet that connects to Ethereum-based decentralized applications. It’s particularly useful for interacting with decentralized exchanges and NFT marketplaces.
When choosing a wallet, consider factors such as security features, supported cryptocurrencies, and ease of use. Many Irish crypto users employ a combination of hardware and software wallets to balance security and convenience. Always ensure you’re downloading wallet applications from official sources and never share your private keys or recovery phrases with anyone.
Bottom Line
For Irish crypto enthusiasts, selecting the right exchange is crucial. Among the best crypto exchanges in Ireland, Bybit stands out for its competitive fees and extensive coin selection. MEXC follows closely, offering a vast array of cryptocurrencies. Both platforms provide robust security measures and support for EUR transactions, catering to Irish users’ needs. Always conduct thorough research and consider your individual trading requirements before choosing an exchange.
