Summary
Cryptocurrency is legal in Norway, with regulatory oversight from Finanstilsynet. Popular payment methods include bank transfers and cards. Norwegian Krone (NOK) is supported by major exchanges. Key regulations include the Money Laundering Act and the Securities Trading Act. Here are our top recommended best crypto exchanges in Norway:
Best Crypto Exchanges in Norway
This article examines the top crypto exchanges available to Norwegian residents. We’ll explore platforms that support NOK transactions and offer preferred payment methods for Norwegian users. When selecting an exchange, consider factors such as supported cryptocurrencies, fee structures, deposit options, and KYC requirements.
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:
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. 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.
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. 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.
Is Crypto Legal and Regulated in Norway?
Cryptocurrency is legal in Norway, with regulatory oversight provided by the Financial Supervisory Authority of Norway (Finanstilsynet). The country has implemented specific regulations to govern crypto activities, ensuring compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) standards.
Norway’s regulatory framework for cryptocurrencies is primarily based on the Money Laundering Act and the Securities Trading Act. These laws require crypto exchanges and wallet providers operating in Norway to register with Finanstilsynet and comply with AML/CTF regulations.
In 2019, the Norwegian government introduced stricter reporting requirements for cryptocurrency transactions. Exchanges and wallet providers must now report large transactions and suspicious activities to the Norwegian Tax Administration. This increased regulatory scrutiny aims to prevent financial crimes while fostering a secure environment for legitimate crypto activities.
Is Crypto Taxable in Norway?
Cryptocurrency is subject to taxation in Norway, with the Norwegian Tax Administration (Skatteetaten) providing guidelines for reporting crypto-related income and assets. The tax treatment of cryptocurrencies in Norway is primarily based on their classification as capital assets.
Capital gains from cryptocurrency transactions are taxed at a flat rate of 22% (as of 2023). This applies to profits from selling, trading, or using cryptocurrencies to purchase goods or services. Losses from crypto transactions can be deducted against other capital gains.
Norway also imposes a wealth tax on cryptocurrency holdings. As of 2023, individuals with net assets exceeding NOK 1.7 million (or NOK 3.4 million for married couples) are subject to a wealth tax of 0.95% on the value of their crypto assets.
It’s important to note that cryptocurrency mining income is treated as business income and taxed at the standard income tax rate, which can be up to 38.4% for high earners.
Disclaimer:
Following these steps and choosing a reputable exchange can help Norwegian residents get started in cryptocurrency safely and confidently.
How to Buy Crypto in Norway
Purchasing cryptocurrency in Norway is a straightforward process, with several reputable exchanges offering services to Norwegian residents. We recommend using Bitget for its user-friendly interface, competitive fees, and support for NOK transactions.
Whether you’re interested in buying Bitcoin, Ethereum, or other popular cryptocurrencies, follow these steps to get started:
- Choose a crypto exchange: Pick a platform that supports NOK deposits and withdrawals, offers reasonable fees, and adheres to Norwegian regulations. Ensure the exchange’s KYC (Know Your Customer) process aligns with local requirements for a hassle-free experience.
- Sign up and verify identity: Open an account with your selected exchange and complete the identity verification process. This usually involves submitting identification documents and proof of address in line with Norwegian legal standards.
- Deposit funds: Add NOK to your account using supported payment methods. Common options in Norway include bank transfers (via SEPA or domestic networks), credit/debit cards, and sometimes services like Vipps.
- Select cryptocurrency to purchase: Decide which digital asset to buy, such as Bitcoin (BTC), Ethereum (ETH), or stablecoins like Tether (USDT). Your choice should align with your investment goals and risk appetite.
- Execute the trade: Place a market or limit order to buy the cryptocurrency of your choice. Before confirming, check the transaction details for fees and rates.
- Secure your funds: Once purchased, transfer your crypto to a secure wallet. For long-term security, consider using a hardware wallet or a trusted software wallet with strong security protocols.
By following these steps and choosing a reliable exchange, Norwegian residents can safely and efficiently enter the world of cryptocurrency investing.
Best Crypto Wallets in Norway
Selecting a secure wallet is crucial for protecting your cryptocurrency investments in Norway. There are several types of wallets available, each offering different levels of security and convenience. Here are some top options for Norwegian crypto enthusiasts:
Hardware Wallets: These offer the highest level of security for long-term storage. Popular choices include:
- Ledger Nano X or S: Known for their robust security features and wide cryptocurrency support.
- Trezor Model T or One: Offers a user-friendly interface and strong security measures.
Software Wallets: These provide a balance between security and convenience for regular transactions:
- Trust Wallet: A versatile mobile wallet supporting multiple blockchains and DeFi features.
- Exodus: Available for desktop and mobile, offering an intuitive interface and built-in exchange features.
Web Wallets: Suitable for frequent traders and those accessing decentralized applications (dApps):
- MetaMask: A popular browser extension wallet, particularly useful for Ethereum and ERC-20 tokens.
When selecting a wallet, think about the cryptocurrencies you intend to store, how often you’ll need access to them, and your preferred level of security. To ensure optimal protection, many Norwegian crypto holders use a mix of wallet options, utilizing hardware wallets for secure, long-term storage and software or web wallets for everyday transactions.
Bottom Line
For Norwegian residents seeking the best crypto exchanges in Norway, Bitget and MEXC stand out as top choices. These platforms offer a wide range of cryptocurrencies, competitive fees, and support for NOK transactions. Both exchanges comply with Norwegian regulations, ensuring a secure trading environment. Whether you’re a beginner or an experienced trader, these best crypto exchanges in Norway provide the tools and features needed for successful cryptocurrency investing. Always prioritize security, conduct thorough research, and consider your individual needs when selecting an exchange.
