Summary
Cryptocurrency is legal in Lithuania, with a progressive regulatory framework overseen by the Bank of Lithuania. Popular payment methods include bank transfers and credit cards. The euro (EUR) is widely supported on crypto exchanges. Key regulations include the Law on the Prevention of Money Laundering and Terrorist Financing, which requires crypto businesses to register with the Registry of Legal Entities. Here are our top recommended best crypto exchanges in Lithuania:
Best Crypto Exchanges in Lithuania
Lithuania has emerged as a crypto-friendly jurisdiction in Europe, attracting both local and international cryptocurrency enthusiasts. This article examines the top crypto exchanges available to Lithuanian residents, focusing on factors such as supported cryptocurrencies, trading fees, deposit methods, and regulatory compliance.
For Lithuanian users, exchanges that support euro (EUR) deposits and withdrawals are particularly convenient. Bank transfers and credit card payments are widely accepted methods for funding accounts on these platforms.
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. Uphold
Users:
3m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
200+
Leverage:
Not Supported
Spot Fees:
1.4%
Futures Fees:
Not Supported
Pros
- Beginner-friendly exchange
- Fully regulated and licensed in the US
- Great customer support
- Comprehensive fiat deposit methods
- Passive income products
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
- No futures trading offered
Uphold Overview
Uphold is a versatile crypto trading platform that allows users to trade a wide range of assets, including cryptocurrencies, precious metals, fiat currencies, and U.S. equities. The platform provides access to over 250 digital currencies and allows users to trade in fiat currencies and precious metals.
What makes Uphold special is its Cross-Asset Trading feature. Users can trade directly between different asset classes (e.g., BTC to gold) without first converting to a fiat currency.
Trading fees vary depending on the type of asset that you are trading. However, Upholding fees are very high compared to industry standards.
Users have access to crypto staking, generating yields of up to 13% of your initial asset deposit.
Additionally, Uphold offers a trading interface appealing to beginners who want to buy and hold crypto assets. It doesn’t provide advanced trading tools and isn’t suitable for day trading, making it less ideal for experienced traders.
3. BitPanda
Users:
3m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
200+
Leverage:
3x (Spot Margin)
Spot Fees:
0.25%
Futures Fees:
Not Supported
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed in EU
- Great customer support
- Reputable with over 100 million users
Cons
- Lacks advanced features
- Very high trading fees
- No futures trading
- Not suitable for active crypto traders
Bitpanda Overview
Bitpanda is one of the oldest crypto trading platforms located in Austria. Since its launch in 2014, Bitpanda has been offering premium crypto services including access to over 3000 digital assets like crypto, stocks, precious metals, and crypto indices.
Users can access fees as low as 0.25% for both makers and takers on spot trading. The fees can be reduced to as low as 0% for makers and 0.01% for takers depending on your 30-day trading volume.
What sets Bitpanda apart is its user-friendly trading experience. Whether you’re a beginner or an experienced trader, you’ll find everything you need to trade in Bitpanda Pro.
You’ll have access to real-time candlestick charts and a trading terminal. You’ll also have access to advanced order types, an order book, and more. Additionally, Bitpanda provides 2x leverage with margin close-out controls that trigger at 50% of the original margin.
4. OKX
Users:
50m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
350+
Leverage:
100x
Spot Fees:
0.14%/0.1%
Futures Fees:
0.01%/0.06%
Pros
- Highly efficient trading platform
- 350+ assets
- Free demo trading
- Fiat supported
- 24/7 customer support
Cons
- Not available in the US
- Not beginner-friendly
- Limitations and restrictions in Europe
OXK Overview
OKX is the third largest crypto exchange sorted by daily derivatives volume. This is no surprise since OKX’s focus lies in offering a high-efficiency leverage trading experience. While the UI is not necessarily beginner-friendly, it is one of the fastest and most reliable platforms we have come across.
Over 300 coins are supported on OKXs spot market while 250 contracts are available for futures trading with up to 100x leverage. What makes OKX stand out is its extensive liquidity which are without a doubt at the top of the game.
With low futures fees starting at 0.02% maker and 0.05% taker, OKX ensures a cost efficient derivatives trading environment. Spot trading fees however are on the more expensive side starting at 0.14% for makers and 0.23% for takers.
You can easily deposit funds using your credit/debit card. Additionally, you can deposit and withdraw fiat using your personal bank account, making OKX a reliable platform for on- and off-ramp funds.
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 Lithuania?
Cryptocurrency is legal in Lithuania, and the country has adopted a progressive stance towards digital assets. The primary regulatory body overseeing cryptocurrency activities is the Bank of Lithuania, which has established a clear framework for crypto businesses.
In 2019, Lithuania implemented the Law on the Prevention of Money Laundering and Terrorist Financing, which requires cryptocurrency exchanges and wallet providers to register with the Registry of Legal Entities. This law aligns with the EU’s 5th Anti-Money Laundering Directive (AMLD5).
The Bank of Lithuania has also issued guidelines for Initial Coin Offerings (ICOs) and security token offerings, providing clarity for businesses operating in this space. These regulations aim to protect investors while fostering innovation in the blockchain and cryptocurrency sectors.
Lithuania’s approach to cryptocurrency regulation has made it an attractive destination for crypto businesses, with the country positioning itself as a fintech hub within the European Union.
Is Crypto Taxable in Lithuania?
Cryptocurrency is subject to taxation in Lithuania, and the country’s tax authorities have provided guidance on how digital assets should be treated for tax purposes. The State Tax Inspectorate of Lithuania is responsible for overseeing crypto taxation.
For individuals, profits from cryptocurrency trading are generally considered as income from individual activities and are subject to a flat rate of 15% personal income tax. If annual income from crypto trading exceeds €45,000, an additional 20% tax rate applies to the excess amount.
Businesses dealing with cryptocurrencies are subject to corporate income tax at a rate of 15%. Additionally, if a company’s annual income exceeds €300,000, a reduced rate of 5% may apply to the first €300,000 of taxable income.
It’s important to note that the tax treatment of cryptocurrencies can be complex and may vary depending on the specific circumstances of each case. Proper record-keeping of all crypto transactions is crucial for accurate tax reporting.
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 Lithuania.
How to Buy Crypto in Lithuania
Purchasing cryptocurrency in Lithuania has become increasingly accessible, with several reputable exchanges catering to the Lithuanian market. For residents looking to enter the crypto space, we recommend starting with Bybit, our top-rated exchange for Lithuanian users.
Bybit offers a wide selection of cryptocurrencies, including popular assets like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as well as stablecoins such as Tether (USDT). The platform supports euro deposits, making it convenient for Lithuanian users to fund their accounts.
Here’s a step-by-step guide on how to buy cryptocurrencies in Lithuania:
- Choose a Trusted Exchange: Select a well-regarded crypto exchange that facilitates euro deposits and withdrawals. Make sure the platform adheres to Lithuanian regulations and provides convenient payment options.
- Create an Account and Verify Identity: Sign up on the chosen exchange and complete the account setup. Fulfill the Know Your Customer (KYC) requirements by submitting the necessary identification documents to comply with anti-money laundering laws.
- Deposit Funds: Add funds to your account using one of the supported payment options. For users in Lithuania, SEPA bank transfers are typically the most affordable method. Credit cards are also widely accepted for quicker deposits.
- Choose Your Cryptocurrency: Select the digital currency you wish to invest in. Popular choices include Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Base your selection on your financial goals and risk tolerance.
- Place a Trade: Execute a market or limit order to purchase your chosen cryptocurrency. Double-check the details, including any associated fees, before confirming the transaction.
- Secure Your Assets: After buying, transfer your crypto to a secure wallet. For added safety, especially for long-term holdings, consider using a hardware wallet.
With these guidelines, Lithuanian residents can easily and securely navigate the cryptocurrency market. Stay updated on market trends and regulatory changes to make informed investment choices.
Best Crypto Wallets in Lithuania
Selecting a secure cryptocurrency wallet is crucial for Lithuanian crypto enthusiasts to protect their digital assets. There are several types of wallets available, each offering different levels of security and convenience. Here are some top wallet options for users in Lithuania:
- Hardware Wallets:
-
- Ledger: Known for its strong security protocols, Ledger supports a vast array of cryptocurrencies, making it a reliable choice for safeguarding your digital assets.
- Trezor: A widely trusted hardware wallet that combines a user-friendly interface with top-notch security to protect your crypto holdings.
- Software Wallets:
-
- Trust Wallet: A versatile mobile wallet that supports multiple blockchains and features an integrated DApp browser for seamless decentralized application interaction.
- Exodus: Available on both desktop and mobile, Exodus provides an easy-to-use interface with built-in exchange options, simplifying crypto management.
- Web Wallets:
-
- MetaMask: A browser-based wallet extension that excels in facilitating transactions with Ethereum-based decentralized applications (DApps).
When selecting a wallet, it’s important to weigh factors like security, supported currencies, and usability. For storing substantial amounts of cryptocurrency, hardware wallets offer the best protection. Software wallets strike a balance between safety and convenience, making them ideal for regular transactions. Web wallets, on the other hand, are great for active traders and interacting with DApps.
No matter the wallet type, always practice strong crypto security. Enable two-factor authentication, securely back up your recovery phrase, and safeguard your private keys.
Bottom Line
Lithuania’s crypto-friendly environment makes it an excellent location for cryptocurrency enthusiasts. Among the best crypto exchanges in Lithuania, Bybit stands out for its extensive crypto selection and competitive fees. For users seeking a more Europe-focused platform, BitPanda offers a reliable alternative with strong regional presence. Both exchanges provide robust security measures and support for euro transactions, catering to the needs of Lithuanian crypto investors. Always conduct thorough research and consider your individual financial goals when choosing a crypto exchange.
