Summary
Cryptocurrency is legal in Malta, with the country establishing itself as a crypto-friendly jurisdiction. Popular payment methods include bank transfers and credit cards. The Malta Financial Services Authority (MFSA) oversees crypto regulations. The Virtual Financial Assets Act provides a comprehensive regulatory framework for crypto activities. Here are the best crypto exchanges in Malta:
Best Crypto Exchanges in Malta
Malta has positioned itself as a crypto-friendly nation, attracting numerous exchanges to its shores. This article explores the top crypto exchanges available to Maltese residents, focusing on platforms that support the Euro (EUR) and offer convenient payment methods such as SEPA transfers and credit cards.
When selecting a crypto exchange in Malta, consider factors like supported cryptocurrencies, trading fees, deposit methods, and KYC (Know Your Customer) requirements. To help you make an informed decision, we’ve compiled a comparison table of the leading exchanges:
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. 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.
3. 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.
4. Gate.io
Users:
30m
Free Demo:
Mobile App:
Bonus:
$200
Cryptos:
2100+
Leverage:
150x
Spot Fees:
02%
Futures Fees:
0.015%/0.05%
Pros
- 2100+ supported cryptos
- Very comprehensive crypto exchange
- Copy trading allowed
- 150x leverage
- Fiat deposit methods
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
- Very complicated to use
Gate.io Overview
Gate.io is a true powerhouse for altcoin traders with its massive support for over 2100 cryptocurrencies. If you are an altcoin trader, Gate.io will be your new home.
Founded in 2013, Gate.io has established itself as a trusted name in the crypto industry, serving millions of users across more than 130 countries.
With a wide array of trading options, including spot, futures, options, and decentralized finance (DeFi) products, Gate.io caters to both novice and experienced traders. The exchange supports over 2000 cryptocurrencies and consistently ranks among the top exchanges by trading volume.
Beyond trading, Gate.io offers additional services like staking, lending, and an NFT marketplace. With its user-friendly interface, competitive fees, and commitment to compliance with global regulations, Gate.io continues to be a go-to destination for cryptocurrency enthusiasts worldwide.
Spot trading fees on Gate.io start at 0.2% for makers and takers, while futures fees start at 0.02% for makers and 0.05% for takers.
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 Malta?
Cryptocurrency is legal in Malta, and the country has established itself as a crypto-friendly jurisdiction. The Maltese government has implemented a comprehensive regulatory framework to govern cryptocurrency activities, placing it at the forefront of crypto regulation in Europe.
The primary regulatory body overseeing crypto activities in Malta is the Malta Financial Services Authority (MFSA). In 2018, Malta introduced three key pieces of legislation to regulate the crypto industry:
- The Virtual Financial Assets Act (VFAA)
- The Innovative Technology Arrangements and Services Act (ITAS)
- The Malta Digital Innovation Authority Act (MDIA)
The Virtual Financial Assets Act is particularly significant, as it provides a comprehensive regulatory framework for Initial Coin Offerings (ICOs), cryptocurrency exchanges, and other crypto-related services. This act ensures that crypto businesses operate within a regulated environment, enhancing investor protection and market integrity.
Malta’s proactive approach to crypto regulation has attracted numerous blockchain and crypto companies to the island, earning it the nickname “Blockchain Island”. However, it’s important to note that while Malta provides a favorable environment for crypto businesses, users must still adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements when using crypto exchanges.
Is Crypto Taxable in Malta?
Cryptocurrency taxation in Malta is a complex area that requires careful consideration. While Malta has not implemented specific cryptocurrency tax laws, existing tax principles are applied to crypto transactions. The Commissioner for Revenue in Malta has provided some guidance on the tax treatment of cryptocurrencies.
In general, the tax implications of crypto transactions in Malta depend on whether they are considered to be of a capital or revenue nature:
- Capital gains: Long-term investments in cryptocurrencies may be subject to capital gains tax. Malta does not have a specific capital gains tax, but certain capital gains are included in the individual’s taxable income.
- Income tax: Profits from frequent trading activities or mining may be considered as trading income and subject to income tax. The standard progressive tax rates in Malta range from 0% to 35%.
It’s worth noting that Malta does not apply a withholding tax on dividend distributions to non-residents, which could be advantageous for some crypto investors. However, the specific tax treatment can vary based on individual circumstances and the nature of the crypto activities.
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 Malta.
How to Buy Crypto in Malta
Purchasing cryptocurrency in Malta is a straightforward process, thanks to the country’s crypto-friendly regulations and the availability of reputable exchanges. For Maltese residents looking to enter the crypto market, we recommend using Bybit due to its user-friendly interface, competitive fees, and support for EUR transactions.
Whether you’re interested in buying Bitcoin, Ethereum, or other cryptocurrencies, here’s a step-by-step guide to help you get started:
- Choose a Crypto Exchange: Opt for a trusted exchange that supports EUR deposits and withdrawals, while complying with Malta’s regulations. Ensure the platform offers suitable payment options.
- Register and Complete Identity Verification: Sign up for an account on your chosen exchange. You’ll need to provide personal details and go through the Know Your Customer (KYC) process, which usually involves submitting proof of identity and address.
- Deposit Funds: After your account is verified, deposit funds using a preferred method. Maltese users often utilize SEPA transfers, credit/debit cards, or bank transfers.
- Select Cryptocurrency: Pick the cryptocurrency you want to invest in, such as Bitcoin (BTC), Ethereum (ETH), or stablecoins like Tether (USDT) or USD Coin (USDC).
- Execute the Trade: Place an order to buy the cryptocurrency of your choice. You can either go for a market order (buy instantly at the current price) or a limit order (buy at a specified price).
- Secure Your Funds: Once the transaction is complete, decide whether to store your crypto on the exchange or transfer it to a personal wallet for better security.
When selecting an exchange, consider factors such as fees, deposit limits, and withdrawal options. It’s important to understand the risks of cryptocurrency investments and only invest what you’re willing to lose.
Best Crypto Wallets in Malta
Selecting a secure crypto wallet is crucial for safeguarding your digital assets. While Malta-based users can access a wide range of international wallet options, it’s important to choose one that aligns with your specific needs and security preferences. Here are some top crypto wallet choices for users in Malta:
Hardware Wallets:
- Ledger Nano X: Known for its excellent security, making it a reliable option for storing multiple cryptocurrencies long-term.
- Trezor Model T: Combines an intuitive interface with advanced security measures, ensuring user-friendly protection.
Software Wallets:
- Trust Wallet: A versatile mobile wallet that supports various cryptocurrencies and DeFi functionalities.
- Exodus: Available on both desktop and mobile, featuring an easy-to-use interface and integrated exchange features.
Web Wallets:
- MetaMask: A browser-based wallet perfect for interacting with Ethereum-based DApps and decentralized platforms.
When choosing a wallet, consider factors such as security features, supported cryptocurrencies, ease of use, and compatibility with Maltese exchanges. Hardware wallets are recommended for storing large amounts of crypto long-term, while software or web wallets offer more convenience for frequent transactions.
It’s crucial to follow best practices for wallet security, regardless of the type you choose:
- Always backup your wallet’s recovery phrase and store it in a secure, offline location.
- Enable two-factor authentication (2FA) when available.
- Regularly update your wallet software to ensure you have the latest security features.
- Be cautious of phishing attempts and only download wallet apps from official sources.
By selecting a reputable wallet and following these security practices, Maltese crypto users can ensure their digital assets remain safe and accessible.
Bottom Line
For Maltese residents seeking the best crypto exchanges in Malta, Bybit and Kraken stand out as top choices. Bybit offers a user-friendly platform with competitive fees and a wide range of cryptocurrencies, making it ideal for both beginners and experienced traders. Kraken, known for its robust security measures and EUR trading pairs, provides a reliable option for Maltese users. Both exchanges comply with local regulations and offer convenient deposit methods, ensuring a smooth trading experience. When choosing between the best crypto exchanges in Malta, consider factors such as fees, available cryptocurrencies, and user interface to find the platform that best suits your needs.
