Top Cryptocurrency Exchanges In Europe – With the ever changing fintech regulatory landscape in the EU, it may be difficult for Europeans to buy cryptocurrencies in their respective countries.
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Top Cryptocurrency Exchanges In Europe 2022
Today, we’ll take a look at the top 6 best exchanges currently available in Europe and whether they’re right for you.
1. Coinbase: Top European Exchange
Coinbase is a leading crypto exchange co-founded by Brain Armstrong in 2012. It is the most popular exchange in the US and also allows users from the UK, Italy, Ireland and several other European countries to buy, sell and trade cryptocurrencies, including various DeFi tokens and stablecoins.
Coinbase currently supports over 100 tradable cryptocurrencies with a friendly interface. For more professional and institutional traders, the exchange offers Coinbase Pro, which has a more advanced charting interface and all the tools and resources needed for advanced trading.
If you want to use Coinbase on the go, the exchange also offers mobile versions for iOS and Android devices, where you can easily manage your portfolio and buy and sell digital assets.
Additionally, Coinbase offers a hot storage wallet: Coinbase Wallet, where in addition to storing your crypto funds, you can keep your NFT (Non-Fungible Token) assets and explore a wide selection of decentralized applications (dApps).
Pro tip: Use Coinbase Pro to keep fees down. It’s the same functionality, just a different interface with a wider range of assets.
Pros and cons of Coinbase:
advantage:
- user friendly
- Secure platform with 2FA verification
- Advanced charting and trading tools for professional traders
- high liquidity
- has a mobile app
shortcoming:
- Fees are often higher compared to competitors
- poor customer support
2 – Gemini: Safe Cryptocurrency Exchange for Europeans
When it comes to safety, Geminis are always welcome. The exchange was founded in 2014 by Cameron and Tyler Winklevoss, the twins who took classes at Harvard with Mark Zuckerberg. Gemini currently supports over 100 cryptocurrencies, including DeFi, NFTs and gaming tokens.
Beginners may find Gemini’s interface to be user-friendly with easy buy and sell options. It also has a support page with answers to frequently asked questions, and customer support is relatively good.
Professional traders may wish to switch to Gemini’s ActiveTrader platform, which features a more advanced charting platform with multiple order options and margin and derivatives trading.
One of Gemini’s main focuses is user security, allowing users to enable 2FA, pin codes, and Face ID for both iOS and Android users. In addition, Gemini also provides two wallets: one is a hot storage wallet for personal accounts, and the other is a cold storage wallet for institutional accounts.
However, Gemini’s fees are expensive, and you should also note that Gemini’s fee structure is rather complex compared to its competitors.
If you look at Gemini’s fee schedule page, you’ll find 10 different sections discussing different fees for each product or service on the exchange, as follows:
Gemini fee structure. Source: Gemini
Advantages and disadvantages of Gemini
advantage:
- Trading education and help section for beginners
- Staking and lending are allowed
- user friendly
- high security
- Supports multiple cryptocurrency related products
shortcoming:
- complex fee structure
- expensive
3. Kraken: User-Friendly and Powerful Crypto Exchange
Kraken is a widely trusted crypto exchange for beginners and advanced traders. While it has a user-friendly interface, it also offers a powerful charting platform and trading tools to take your trading to the next level.
Compared to Coinbase, Kraken supports a slightly larger number of cryptocurrencies — over 120, including DeFi tokens and stablecoins.
Like its peers, Kraken also has mobile versions for iOS and Android devices as well as Kraken Pro, a more advanced platform for trading a variety of instruments, including margin trading and derivatives such as futures and perpetual contracts. It also has lower fees compared to regular platforms.
Kraken also offers a built-in digital wallet so users can store their funds. As a fun fact: the exchange prompts its customers to keep their funds outside the exchange and keep them in cold storage for added security.
Advantages and disadvantages of Kraken
advantage:
- Supports a wide range of encryption options
- Highly secure platform
- has a mobile app
- relatively low cost
- user friendly
shortcoming:
- No credit/debit card deposits
- Customer support is pretty slow
- Verification process is slow
4. Bitpanda: suitable for buying a variety of cryptocurrency assets
BitPanda, an Austria-based broker, was one of the first Bitcoin exchanges to be established in Europe in 2014. The exchange now has a huge list of over 1000 cryptocurrencies, so if you are looking for a diversified library of digital assets, Bitpanda is a good choice.
As of February 2022, the BitPanda platform has more than 3 million active users, the operation is simple, and the trading interface is suitable for beginners.
Of course, for professional traders, Bitpanda Pro, as you might have guessed by now, has a more advanced charting platform where you can place multiple order options and trade both traditional and crypto derivatives .
The exchange also offers BitPanda Go — a service that allows users to buy crypto directly with cash. This is ideal if you are an Austrian customer as you can buy coupon codes with cash at your local post office and then exchange them for cryptocurrencies. However, keep in mind the BitPanda Go fee, which is currently 3%
Like its competitors, BitPanda offers a mobile version for iOS and Android users, which can be downloaded on the exchange’s website. There, you can buy, sell, hold and trade cryptocurrencies easily and seamlessly.
Pros and Cons of BitPanda
advantage:
- Secure and Trusted Platform
- Wide range of tradable cryptocurrencies
- Mobile version available
shortcoming:
- High fees compared to other exchanges
- Additional Fees for Deposits
- Does not support staking or lending
5. FTX: Best for diversifying your portfolio
Founded by CEO and Alameda Research founder Sam Bankman-Fried, FTX is one of the largest centralized exchanges by volume.
FTX offers a wide range of financial instruments to all of its clients, from simple buying and selling of stocks or digital assets to trading in derivatives, foreign exchange, commodities and more.
Over 300 cryptocurrencies are available on FTX, including high market cap assets like Bitcoin, Ethereum and DeFi, games, NFT tokens and stablecoins. The exchange also has its own NFT marketplace and NFT wallet.
Transaction fees on FTX are relatively low, but you should also expect deposit/withdrawal fees. One downside of the exchange is that its customer support is very limited — you can only contact support via a ticket, and phone support and live chat are not available.
Advantages and disadvantages of FTX
advantage:
- Wide selection of financial instruments
- Supports a wide range of encryption
- Safe and reliable platform
- Support Staking, NFT and leveraged trading
- relatively low cost
shortcoming:
- Limited customer support
- Not user friendly
6. eToro: Cryptocurrency, Forex and Social Trading
Founded in 2007, eToro is a solid choice for European users. It only supported traditional assets until 2013 when it became one of the first traditional exchanges to support Bitcoin trading, and added more crypto assets in subsequent years. You can buy, sell, and trade over 30 cryptocurrencies, including DeFi tokens and stablecoins.
eToro is suitable for beginners and professional traders. New users will appreciate the easy-to-navigate trading interface, while more advanced users may wish to switch to eToroX, a platform designed for advanced professional trading.
You can also create an institutional account, but you will have to submit more documents to verify your business identity.
Read Also: 15 Best Coinbase Alternatives in 2022 (Updated Apps)
eToro sets itself apart from its competitors with its copy trading feature, which allows new users to copy the successful strategies of leading investors.
Pros and Cons of eToro
advantage:
- Highly secure platform
- Suitable for beginners and advanced traders
shortcoming:
- Supports a limited number of encryptions
- Terrible customer support.
Other Crypto Exchanges Worth Considering in Europe
You might be thinking, what about Binance?
Binance is one of the leading crypto exchanges by 2022 trading volume. However, due to the regulatory environment, it has had a difficult time serving in Europe, which is a disaster at the moment.
Another country that recently gave Binance the green light is France, which fully allows the exchange to offer services in the country. The crypto community has seen the last two messages as a step towards bringing digital assets to the EU.
Final Thoughts: Which Crypto Exchange Is Best For You in Europe?
There are a handful of cryptocurrency exchanges that offer various products to European users. At the same time, the EU has yet to define an appropriate regulatory framework for the cryptocurrency industry.
Whether you want to earn passive income through staking, lend your crypto assets, or just buy and sell cryptocurrencies, it’s a good idea to compare the exchanges available and decide which one is best for you.
One final note: Remember, you should only invest money you can afford to lose. Cryptocurrencies are volatile and therefore subject to huge price fluctuations, so as the old saying goes, don’t put all your eggs in one basket.