Summary
Montenegro currently operates in a gray area regarding cryptocurrency regulations, with no specific framework governing digital assets. The country’s currency, the Euro, is supported by major crypto exchanges for buying digital assets. Bank transfers and credit cards are the primary payment methods available to Montenegrin residents. The Central Bank of Montenegro (CBM) oversees financial regulations but has not yet established comprehensive cryptocurrency guidelines. For Montenegrin investors seeking reliable crypto exchanges, here are our recommendation for the best crypto exchanges in Montenegro:
Best Crypto Exchanges in Montenegro
Montenegro’s cryptocurrency market continues to develop, with increasing numbers of residents seeking access to digital assets. When selecting a crypto exchange in Montenegro, key considerations include EUR support, available payment methods, and compliance with European regulatory standards. The following exchanges provide reliable services for Montenegrin residents, offering various features and security measures.
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. 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.
3. 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.
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. BYDFi
Users:
5m
Free Demo:
Mobile App:
Bonus:
$2,888
Cryptos:
600+
Leverage:
200x
Spot Fees:
0%/0.1%
Futures Fees:
0.02%/0.06%
Pros
- 0% Spot maker fees
- Very beginner friendly
- US and Canada supported
- 24/7 customer support
- 600+ cryptocurrencies
Cons
- No copy trading
- Lacks advanced features like hedge mode
Overview
BYDFi has become one of the most popular crypto exchanges due to its user-friendly design, low fees, and wide variety of 600 supported cryptos.
With a strong emphasis on accessibility, BYDFi offers its services to over 160 countries from all around the world. Some of these services include spot and futures trading, bot trading, and earning. For futures traders, BYDFi offers leverage of up to 200x, making it a great platform for seasoned professionals.
The intuitive interface, quick response time, and tons of advanced features make BYDFi a top-notch crypto exchange. If you are trading from the go, you can download the BYDFi mobile app from the iOS AppStore and Android PlayStore.
BYDFi charges the industry standard of 0.1% maker and taker fees on the spot market. If you want to enjoy lower fees, we recommend using the BYDFi futures market with fees of only 0.02% maker and 0.06% taker.
Is Crypto Legal and Regulated in Montenegro?
Cryptocurrency operates in a legal gray area in Montenegro. The Central Bank of Montenegro (CBM) has not implemented specific regulations for cryptocurrency trading or ownership. However, the country does not prohibit cryptocurrency transactions or ownership.
In 2021, the Montenegro government initiated discussions about potential cryptocurrency regulations, particularly focusing on anti-money laundering (AML) measures. The Government of Montenegro has expressed interest in developing a regulatory framework aligned with European Union standards, as Montenegro is an EU candidate country.
Financial institutions in Montenegro must comply with standard Know Your Customer (KYC) and AML requirements when handling cryptocurrency-related transactions. The Administration for Prevention of Money Laundering and Terrorist Financing monitors suspicious transactions, including those involving digital assets.
Is Crypto Taxable in Montenegro?
Montenegro’s tax treatment of cryptocurrency remains unclear due to the absence of specific regulations. Currently, the Montenegro Tax Administration has not issued detailed guidance on cryptocurrency taxation.
General income tax principles may apply to cryptocurrency gains. Montenegro’s personal income tax rate stands at 9% for annual income up to €8,400 and 11% for income exceeding this amount. Capital gains are typically taxed at 9%, which might apply to cryptocurrency profits.
Professional traders may be subject to different tax treatment compared to casual investors. Business income derived from cryptocurrency trading could be taxed under Montenegro’s corporate tax rate of 9%.
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 Montenegro.
[Previous sections remain the same until “How to Buy Crypto”]
How to Buy Crypto in Montenegro
Montenegrin residents can access cryptocurrency markets through several established exchanges. Bitget offers a comprehensive platform for Montenegro-based users, supporting EUR deposits and providing a secure trading environment. The platform features advanced security measures, including two-factor authentication and withdrawal protection.
- Select a Crypto Exchange: Verify the platform supports EUR deposits and check KYC requirements for Montenegro residents. Consider factors such as trading fees, available trading pairs, and platform security features.
- Complete Registration: Submit required documentation for identity verification, typically including government-issued ID and proof of address. This process usually takes 24-48 hours for full verification. Prepare clear photos or scans of your documents to expedite the process.
- Fund Your Account: Deposit EUR using bank transfer (SEPA), credit card, or debit card. Bank transfers often offer lower fees but take 1-3 business days, while card payments provide instant deposits. SEPA transfers typically incur fees between 0.15% to 0.5%, while card payments may cost 2.5% to 3.99%.
- Choose Cryptocurrency: Select from popular options like Bitcoin (BTC), Ethereum (ETH), or stablecoins such as USDT. Review current market prices and trading pairs. Consider starting with stablecoins if you’re new to crypto trading, as they offer price stability while you learn the market dynamics.
- Execute Trade: Place a market order for immediate execution at current prices or set limit orders to buy at specific price points. Market orders ensure immediate execution but may have slightly higher fees, while limit orders allow you to specify your preferred price but may take longer to fill.
- Secure Storage: Transfer purchased cryptocurrencies to a personal wallet for enhanced security. Always verify withdrawal addresses and use whitelisting features when available to prevent unauthorized transfers.
For first-time buyers, starting with a smaller amount is recommended to understand the process. Most exchanges allow minimum purchases of €10-€20, making it accessible for new investors to enter the market. Regular purchases (dollar-cost averaging) can help manage market volatility.
Best Crypto Wallets in Montenegro
Montenegrin cryptocurrency users have access to various wallet solutions for secure asset storage. Hardware wallets provide the highest security level for long-term storage, while software wallets offer convenience for daily transactions.
Ledger and Trezor hardware wallets offer offline storage with advanced security features. The Ledger Nano X (€149) and Trezor Model T (€199) support over 1,800 cryptocurrencies and provide backup recovery options. These devices connect to computers via USB and require physical confirmation for all transactions.
For regular trading, software wallets like MetaMask provide convenient access to decentralized applications and exchanges. MetaMask supports ERC-20 tokens and various blockchain networks, including Ethereum, Binance Smart Chain, and Polygon. The wallet includes built-in swap features and connects to popular DeFi platforms.
Mobile wallets such as Trust Wallet and Exodus offer user-friendly interfaces with support for multiple cryptocurrencies. Trust Wallet provides access to decentralized exchanges and NFT storage, while Exodus features a desktop companion app for synchronized access. Both wallets include built-in exchange features and staking options, with Exodus supporting over 180 cryptocurrencies and Trust Wallet offering access to 4.5 million digital assets.
For optimal security, consider implementing a multi-wallet strategy: use hardware wallets for long-term storage of significant amounts, software wallets for DeFi interactions, and mobile wallets for daily transactions. Regular backup of recovery phrases and private keys is essential for all wallet types.
Bottom Line
For Montenegrin residents seeking the best crypto exchanges in Montenegro, Bitget and Bybit stand out as top choices. Bitget offers competitive fees starting at 0.1%, extensive EUR trading pairs, and a user-friendly interface suitable for both beginners and experienced traders. Bybit provides advanced trading features, reliable customer support available 24/7, and comprehensive educational resources for market analysis. Both platforms maintain strong security measures, including multi-signature wallets and regular security audits, while supporting multiple payment methods suitable for Montenegro-based users. Their commitment to regulatory compliance and transparent fee structures makes them ideal for accessing the cryptocurrency market from Montenegro.
