Summary
In Sweden, cryptocurrency is legal and regulated. The Financial Supervisory Authority (Finansinspektionen) oversees crypto activities. Popular payment methods include bank transfers and cards. The Swedish krona (SEK) is widely supported. Key regulations include anti-money laundering (AML) laws and taxation of crypto gains. For trading digital assets, consider these best crypto exchanges in Sweden:
Best Crypto Exchanges in Sweden
This article examines the leading cryptocurrency exchanges available to Swedish residents. We’ll explore platforms that support SEK transactions and offer preferred payment methods for the Swedish market. Below is a comparison of the top exchanges, detailing their supported cryptocurrencies, fee structures, deposit options, and KYC requirements.
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. 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. KuCoin
Users:
30m
Free Demo:
Mobile App:
Bonus
$10,500
Cryptos:
800+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- Beginner friendly
- 800+ supported crypto assets
- 125x leverage and deep liquidity
- 20+ fiat currencies
- Great 24/7 customer support
Cons
- Lacks advanced features
- Not the best liquidity
- Regulatory issues in the US
- Variable spot fees
Overview
Kucoin focuses on offering the best spot trading experience. With over 800 supported cryptos on the spot market, Kucoin is one of the most versatile crypto exchanges when it comes to supported assets. You can trade popular cryptos such as Bitcoin or Ethereum but also less-known cryptos and even meme coins. If you are on the hunt for new and shiny coins that are not popular yet, Kucoin might be your best shop.
Spot fees on Kucoin are relatively average, ranging from 0.1% to 0.32% based on the liquidity of the asset. Futures trading on Kucoin starts at a maker fee of 0.02% and a taker fee of 0.06%.
Kucoin has integrated and ready-to-use crypto grid trading bots to automate your income. You can set up grid bots based on several parameters to trade for you 24/7.
Is Crypto Legal and Regulated in Sweden?
Cryptocurrency is legal in Sweden, and the country has taken steps to regulate digital assets. The primary regulatory body overseeing cryptocurrency activities is the Swedish Financial Supervisory Authority (Finansinspektionen or FI). In 2019, the FI released a report on crypto-assets and financial stability, acknowledging the growing importance of digital currencies in the financial landscape.
Sweden has implemented the EU’s Fifth Anti-Money Laundering Directive (5AMLD), which requires cryptocurrency exchanges and custodial wallet providers to register with the FI and comply with AML/CFT regulations. This registration process includes demonstrating compliance with know-your-customer (KYC) and anti-money laundering (AML) procedures.
The Swedish Tax Agency (Skatteverket) has also provided guidelines on the taxation of cryptocurrencies. While cryptocurrencies are not considered legal tender in Sweden, they are treated as assets for tax purposes. The country’s central bank, Sveriges Riksbank, is exploring the possibility of issuing a central bank digital currency (CBDC) called the e-krona, demonstrating Sweden’s forward-thinking approach to digital finance.
Is Crypto Taxable in Sweden?
Yes, cryptocurrencies are subject to taxation in Sweden. The Swedish Tax Agency (Skatteverket) classifies cryptocurrencies as assets, and their taxation follows specific guidelines:
- Capital Gains Tax: Profits from selling or exchanging cryptocurrencies are subject to capital gains tax. For individuals, this tax rate is 30% on the profit.
- Mining Income: Income from mining cryptocurrencies is typically treated as business income and taxed accordingly. The tax rate varies depending on the individual’s overall income.
- Staking Rewards: Income from staking is generally treated as capital income and taxed at 30%.
- VAT Exemption: In line with a 2015 EU Court of Justice ruling, the exchange of traditional currencies for cryptocurrencies is exempt from VAT in Sweden.
It’s important to note that taxpayers are required to report all cryptocurrency transactions, including exchanges between different cryptocurrencies. The Swedish Tax Agency has been actively working on improving its ability to track and tax cryptocurrency transactions, including collaborating with other agencies to enhance monitoring capabilities.
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 Sweden.
How to Buy Crypto in Sweden
Purchasing cryptocurrencies in Sweden is a straightforward process, with several reputable exchanges offering services to Swedish residents. For those looking to enter the crypto market, we recommend starting with Bybit, our top-rated exchange for Swedish users. Bybit offers a user-friendly interface, competitive fees, and supports a wide range of cryptocurrencies, including popular assets like Bitcoin (BTC), Ethereum (ETH), and many others.
Here’s a step-by-step guide to buying cryptocurrencies in Sweden:
- Select a Crypto Exchange: Choose a platform that enables SEK deposits and withdrawals. Ensure the exchange adheres to Swedish regulations and provides appropriate payment options. Take into account factors such as fees, supported cryptocurrencies, and security measures.
- Sign Up and Verify Your Identity: Register an account on the selected exchange. You’ll need to share personal information and complete the Know Your Customer (KYC) process, which usually involves submitting identification and proof of residence.
- Deposit Funds: Fund your account with Swedish Kronor (SEK). Common payment methods in Sweden include bank transfers (often via Swish), credit/debit cards, and sometimes Trustly. While bank transfers tend to have lower fees, they may take longer to process.
- Select Cryptocurrency: Decide on the digital asset you want to acquire. Popular choices include Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT). Make sure to research different options and their potential applications before investing.
- Execute Trade: Place either a market or limit order to buy your selected cryptocurrency. Market orders are executed instantly at the current price, while limit orders allow you to specify a price at which you want to make the purchase.
- Store Funds Securely: After your purchase, consider transferring your cryptocurrencies to a secure wallet. For long-term storage or larger amounts, hardware wallets provide increased security. For smaller amounts or regular trading, a software wallet or keeping funds on the exchange may be suitable, ensuring all available security features are activated.
Stay updated on market trends and always invest wisely, only risking what you can afford to lose.
Best Crypto Wallets in Sweden
Selecting a secure wallet is crucial for safeguarding your cryptocurrency investments in Sweden. Here are some top wallet options, each catering to different needs:
- Hardware Wallets:
- Ledger Nano X/S: Offers top-tier security for long-term storage. The Nano X provides Bluetooth connectivity for mobile use.
- Trezor Model T/One: Another excellent hardware wallet option, known for its user-friendly interface and robust security features.
- Software Wallets:
- Trust Wallet: A versatile mobile wallet supporting numerous cryptocurrencies and DeFi applications.
- Exodus: Available on desktop and mobile, offering an intuitive interface and built-in exchange features.
- MetaMask: A popular browser extension wallet, ideal for interacting with Ethereum-based decentralized applications (dApps).
- Paper Wallets: For those seeking an offline storage method, paper wallets can be generated using services like BitAddress. However, they require careful handling and are generally recommended for advanced users.
When choosing a wallet, consider factors such as security features, supported cryptocurrencies, ease of use, and compatibility with Swedish exchanges. For large investments, a combination of a hardware wallet for long-term storage and a software wallet for daily transactions often provides an optimal balance of security and convenience.
Remember to enable all available security features, such as two-factor authentication, and always keep your recovery phrases in a secure, offline location. Regularly update your wallet software to ensure you have the latest security patches and features.
Bottom Line
For Swedish crypto enthusiasts seeking the best crypto exchanges in Sweden, we recommend Bybit and MEXC as top choices. Bybit offers a user-friendly platform with competitive fees and a wide range of assets, ideal for both beginners and experienced traders. MEXC stands out with its extensive selection of over 1,100 cryptocurrencies and attractive fee structure. Both exchanges support SEK deposits and comply with Swedish regulations, ensuring a secure and efficient trading experience for users in Sweden.
