Summary
Cryptocurrency is legal in Slovakia, with supportive regulations in place. Popular payment methods include SEPA transfers and credit cards. The euro (EUR) is widely supported. The National Bank of Slovakia (NBS) oversees crypto regulations. Key laws include the Anti-Money Laundering Act and the Virtual Currency Law. Here are the best crypto exchanges in Slovakia:
Best Crypto Exchanges in Slovakia
This article examines the top crypto exchanges available in Slovakia, focusing on their features, supported cryptocurrencies, and compatibility with local payment methods. For Slovak users, exchanges that support euro (EUR) transactions and offer SEPA transfers are particularly advantageous.
1. 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.
2. 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.
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. 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.
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 Slovakia?
Cryptocurrency is legal in Slovakia, operating within a regulatory framework that aims to balance innovation and consumer protection. The National Bank of Slovakia (NBS) is the primary regulatory body overseeing crypto activities in the country. In 2018, Slovakia implemented the EU’s Fifth Anti-Money Laundering Directive (AMLD5), which brought crypto exchanges and wallet providers under regulatory oversight.
The Virtual Currency Law, enacted in November 2019, further defined the legal status of cryptocurrencies and established registration requirements for crypto businesses. Under this law, crypto exchanges and custodial wallet providers must register with the NBS and comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
While Slovakia has not introduced specific cryptocurrency regulations beyond these measures, the country follows EU directives and recommendations. The European Securities and Markets Authority (ESMA) guidelines on crypto-assets are also applicable in Slovakia, providing additional investor protection measures.
Is Crypto Taxable in Slovakia?
Cryptocurrency is subject to taxation in Slovakia, with the Ministry of Finance classifying it as a form of income. Capital gains from crypto transactions are taxed at a flat rate of 19% for individuals. For businesses, crypto profits are included in their corporate income tax, which is currently set at 21%.
Slovakia follows a time-based taxation model for crypto assets. If an individual holds a cryptocurrency for more than one year before selling or exchanging it, the profit may be tax-exempt. However, this exemption does not apply to crypto mining or staking rewards, which are always considered taxable income.
The Slovak Financial Administration requires taxpayers to keep detailed records of all crypto transactions, including dates, amounts, and the euro value at the time of the transaction. Failure to report crypto income can result in penalties of up to 100% of the unpaid tax.
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 Slovakia.
How to Buy Crypto in Slovakia
Purchasing cryptocurrency in Slovakia is a straightforward process, with several reputable exchanges catering to Slovak users. We recommend Binance as the top choice for Slovak residents due to its extensive selection of cryptocurrencies, competitive fees, and support for euro transactions.
Here’s a step-by-step guide to buying cryptocurrencies like Bitcoin, Ethereum, or USDT in Slovakia:
- Choose a Crypto Exchange: Select a platform that allows euro deposits and withdrawals, offers a diverse selection of cryptocurrencies, and adheres to local regulations. Ensure the exchange’s Know Your Customer (KYC) requirements are met.
- Register and Verify Your Identity: Sign up on the selected exchange and complete the identity verification by submitting the necessary documents.
- Fund Your Account: Deposit euros into your account via SEPA transfer, which is commonly supported and usually fee-free for users in Slovakia. Credit card deposits are also available, though they might come with higher fees.
- Pick a Cryptocurrency: Go to the trading section and select the cryptocurrency you want to purchase, such as Bitcoin (BTC), Ethereum (ETH), or stablecoins like USDT and USDC.
- Complete the Trade: Enter the desired amount and carefully review the transaction details before confirming to finalize the trade.
- Secure Your Funds: After purchasing, transfer your crypto to a secure wallet for safekeeping. You can opt for the exchange’s wallet or use an external one for added security.
By following these steps, Slovak users can purchase cryptocurrencies with ease while staying compliant with local laws.
Best Crypto Wallets in Slovakia
Selecting a secure wallet is crucial for Slovak crypto investors. Here are some top wallet options:
Hardware Wallets:
- Ledger Nano X: Renowned for its robust security, making it ideal for long-term crypto storage.
- Trezor Model T: Combines a user-friendly design with high-level security features.
Software Wallets:
- Trust Wallet: A mobile app that supports a wide range of cryptocurrencies.
- Exodus: Available on both desktop and mobile, known for its simple and intuitive interface.
Web Wallets:
- MetaMask: A browser-based extension wallet, perfect for engaging with decentralized finance (DeFi) platforms.
For maximum security, Slovak users should consider using a combination of wallets. Store larger amounts in hardware wallets for long-term holding, and keep smaller amounts in software or web wallets for day-to-day transactions. Always enable two-factor authentication and keep your recovery phrases in a secure, offline location.
Bottom Line
In conclusion, the cryptocurrency landscape in Slovakia offers numerous opportunities for investors and enthusiasts. Among the best crypto exchanges in Slovakia, Binance stands out as the top choice, providing a comprehensive platform with competitive fees and extensive crypto offerings. For those seeking an alternative, Bitget offers a user-friendly interface and robust trading options. Both exchanges cater well to Slovak users, supporting euro transactions and adhering to local regulations.
