Summary
Cryptocurrency is legal in Spain, with the Bank of Spain and the National Securities Market Commission (CNMV) overseeing regulations. Popular payment methods include bank transfers and credit cards. The Euro (EUR) is widely supported on crypto exchanges. Key regulatory bodies include the Bank of Spain and CNMV, with the Anti-Money Laundering Law (Law 10/2010) governing crypto activities. Our recommended best crypto exchanges in Spain are:
Best Crypto Exchanges in Spain
This article provides an in-depth analysis of the top cryptocurrency exchanges available to Spanish investors. We’ll explore platforms that offer support for the Euro (EUR) and provide convenient payment methods tailored to the Spanish market, such as SEPA transfers and credit card options.
For Spanish users, we recommend prioritizing exchanges that offer seamless EUR deposits and withdrawals, as well as those that comply with European regulatory standards. This ensures a smooth trading experience while adhering to local financial regulations.
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. 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.
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. 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.
5. 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.
Is Crypto Legal and Regulated in Spain?
Cryptocurrency is legal in Spain, with regulatory oversight provided by the Bank of Spain (Banco de España) and the National Securities Market Commission (Comisión Nacional del Mercado de Valores, CNMV). The Spanish government recognizes cryptocurrencies as digital assets rather than legal tender.
In 2021, Spain implemented the Royal Decree-Law 7/2021, which transposed the EU’s Fifth Anti-Money Laundering Directive (AMLD5) into national law. This legislation requires crypto exchanges and wallet providers operating in Spain to register with the Bank of Spain and comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
The CNMV, in collaboration with the Bank of Spain, has issued warnings about the risks associated with cryptocurrency investments. In February 2021, they introduced regulations on crypto-asset advertising, requiring prior authorization for promotional campaigns targeting more than 100,000 people.
Spain is also aligning with the broader European Union regulatory framework, including the Markets in Crypto-Assets (MiCA) regulation, which aims to establish a comprehensive set of rules for the crypto industry across the EU.
Is Crypto Taxable in Spain?
Cryptocurrency is subject to taxation in Spain, with the Spanish Tax Agency (Agencia Tributaria) providing guidelines on how crypto assets should be declared and taxed. The tax treatment of cryptocurrencies in Spain primarily falls under two categories: Income Tax and Wealth Tax.
For Income Tax purposes, profits from cryptocurrency trading are generally considered capital gains. The tax rate for capital gains in Spain ranges from 19% to 26%, depending on the amount of profit:
- 19% for the first €6,000 of gains
- 21% for gains between €6,000 and €50,000
- 23% for gains between €50,000 and €200,000
- 26% for gains exceeding €200,000
Additionally, individuals holding cryptocurrencies may be subject to the Wealth Tax (Impuesto sobre el Patrimonio) if the total value of their assets, including crypto, exceeds the tax-free allowance, which varies by region but is generally around €700,000.
It’s important to note that Spain has introduced specific reporting requirements for cryptocurrency holdings. As of 2023, individuals must declare their crypto assets held on foreign exchanges using the Modelo 720 form if the total value exceeds €50,000.
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 Spain.
How to Buy Crypto in Spain
Purchasing cryptocurrency in Spain has become increasingly accessible, with numerous exchanges offering services tailored to Spanish investors. For Spanish residents, we recommend using Bybit, our top-rated exchange, which offers a user-friendly platform, competitive fees, and support for Euro (EUR) transactions.
Whether you’re looking to buy Bitcoin, Ethereum, or other popular cryptocurrencies, follow these steps to get started:
- Select a Crypto Exchange: Choose a reputable exchange that supports EUR deposits and withdrawals. Ensure the platform complies with Spanish regulations and offers suitable payment methods.
- Sign Up and Verify Your Identity: Create an account on the chosen exchange. Complete the Know Your Customer (KYC) process by providing the required identification documents, which typically include a government-issued ID and proof of address.
- Deposit Funds: Fund your account using one of the available payment methods. For Spanish users, popular options include:
- SEPA transfers (ideal for larger amounts due to low fees)
- Credit or debit cards (for faster transactions)
- Online payment services like Bizum (offered by some exchanges)
- Select Cryptocurrency: Choose the cryptocurrency you wish to purchase. Popular options include Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT) or USD Coin (USDC).
- Execute Trade: Enter the amount of cryptocurrency you want to buy or the amount of EUR you want to spend. Review the transaction details, including any fees, and confirm the purchase.
- Store Your Funds: After purchasing, you can either keep your crypto on the exchange wallet or transfer it to a personal wallet for added security. For long-term storage or large amounts, consider using a hardware wallet.
Remember to stay informed about the latest regulations and tax obligations related to cryptocurrency investments in Spain. As the crypto market can be volatile, it’s advisable to invest only what you can afford to lose and to diversify your investment portfolio.
Best Crypto Wallets in Spain
Selecting a secure and user-friendly cryptocurrency wallet is crucial for Spanish investors. Here are some top wallet options suitable for users in Spain:
- Ledger: A leading hardware wallet provider, Ledger offers the Nano S and Nano X models. These devices provide offline storage for a wide range of cryptocurrencies, offering maximum security for long-term hodlers.
- Trezor: Another reputable hardware wallet manufacturer, Trezor’s Model T and Model One are excellent choices for secure offline storage. They support numerous cryptocurrencies and integrate with various software wallets.
- Trust Wallet: A popular mobile wallet available for iOS and Android devices. Trust Wallet supports a vast array of cryptocurrencies and tokens, including those on various blockchain networks like Ethereum, Binance Smart Chain, and more.
- Exodus: A user-friendly desktop and mobile wallet that supports over 100 cryptocurrencies. Exodus offers a built-in exchange feature and integrates with Trezor hardware wallets for enhanced security.
- MetaMask: Primarily used for Ethereum and ERC-20 tokens, MetaMask is a browser extension and mobile app that serves as a gateway to decentralized applications (DApps). It’s particularly useful for those engaging with decentralized finance (DeFi) platforms.
When choosing a wallet, consider factors such as security features, supported cryptocurrencies, ease of use, and compatibility with Spanish exchanges. For large holdings, a combination of a hardware wallet for long-term storage and a software wallet for daily transactions is often recommended. Always ensure you follow best practices for wallet security, including backing up your recovery phrase and using two-factor authentication where available.
Bottom Line
For Spanish crypto enthusiasts seeking the best crypto exchanges in Spain, we highly recommend Bybit and Binance. These platforms offer robust security measures, competitive fees, and excellent EUR support. Bybit stands out offering a robust platform with competitive fees and strong regulatory compliance. Binance follows closely as our second choice, providing a vast selection of cryptocurrencies and user-friendly interface. Both exchanges cater well to the Spanish market, supporting Euro transactions and adhering to local regulations. Always conduct thorough research and consider your individual needs when selecting a cryptocurrency exchange.
