Best Crypto Exchanges in Austria

Best Cryptocurrency Exchanges in Austria

We have tested and compared the 23 crypto exchanges available to Austrian investors. Our assessment only considered platforms compliant with the Austrian Financial Market Authority (FMA) regulations. We considered available cryptocurrencies, trading fees, and EUR deposit methods. Below is a comparison table highlighting the top 5 platforms in Austria.

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1. Bybit

Bybit supports over 1,500 cryptocurrencies for spot, futures, and options trading. It has a highly liquid derivatives market, which offers 400 USDT and USDC perpetual contracts with up to 200x leverage. Home to over 54 million users across Austria and 160 other countries, the platform can be used in German and 22 other languages and provides multilingual customer support. 

Users can benefit from Bybit's unique investment features, such as copy trading, NFT trading, a trading bot, a crypto debit card, and its AI-powered tool, TradeGPT. It also provides staking, liquidity mining options and crypto loans to help users maximize their returns. The platform also regularly updates its proof-of-reserves, providing complete transparency in users' assets.

• Fees: Spot trading starts at 0.1%; for futures, the maker fee is 0.02%, and the taker fee is 0.055%.
• Supported Assets: Over 1,500 cryptocurrencies.
• Regulation and Licensing: Bybit is regulated by CySEC in Europe, but is not directly licensed by the FMA. However, it is currently pursuing regulatory licensing in Austria.
• EUR Deposit Methods: SEPA transfers, bank transfers, Apple Pay, Google Pay, Zen, Revolut, iDEAL, debit cards and credit cards.

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2. Kraken

Kraken is a top choice for institutional investors in Austria, offering a comprehensive suite of features to its 10 million customers. With over a decade of experience, it is known for its security, transparency, and industry-leading liquidity. It supports more than 280 digital currencies. Kraken Pro offers margin trading, futures contracts with leverage, and customizable order types.

Additional offerings include staking rewards, over-the-counter (OTC) services for large transactions, and an NFT marketplace with zero gas fees. It is also one of the few platforms that provides proof of reserves, ensuring users have full visibility over their funds. Kraken’s 24/7 German-speaking customer support and multiple funding options make it accessible for local traders.

• Fees: Maker fees start at 0.16%, while taker fees begin at 0.26%.
• Supported Assets: Over 280 cryptocurrencies.
• Regulation and Licensing: Kraken operates under Payward Europe Solutions Limited and is registered as a Virtual Asset Service Provider (VASP) in Europe.
• EUR Deposit Methods: SEPA, SWIFT, bank transfers, credit cards and debit cards.

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3. Uphold

Uphold is a user-friendly platform that makes buying and selling crypto simple. It allows users to trade in over 300 cryptocurrencies and a wide range of other assets, such as precious metals like Gold and traditional currencies, all within a single account. The one-step trading feature sets it apart, allowing users to trade between assets without the need for multiple conversions. 

Additionally, Uphold’s innovative card gives users the ability to spend their crypto directly, with no foreign transaction fees when used abroad. The platform also prides itself on transparency, publishing its assets and liabilities every 30 seconds, which ensures users always have visibility into the security of their funds. This emphasis on accountability makes it a trustworthy option.

• Fees: 0% trading commission, but spreads may apply depending on the asset.
• Supported Assets: Over 300 assets, including cryptocurrencies, metals, and currencies.
• Regulation and Licensing: Registered with the FCA and available in Austria.
• EUR Deposit Methods: Bank transfers, SEPA, Apple Pay, credit cards and debit cards.

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4. Bitpanda

Bitpanda is Austria’s leading exchange, popular for its wide range of financial products. Founded in Vienna in 2014, it offers access to over 3,000 cryptocurrencies, stocks, precious metals, and ETFs. What sets Bitpanda apart is its user-friendly platform, which makes it easy for investors to start trading with as little as €1. It also supports a variety of local European payment options.

The exchange prides itself on being fully regulated and compliant with both Austrian and European standards. With features like savings plans for automated investments, a crypto debit card, cash plus, BEST rewards, Bitpanda Spotlight and crypto indices for diversifying with a single click, Bitpanda provides a wide range of features.

• Fees: Trading fees are set at 0.2%, with spreads around 1%.
• Supported Assets: Over 3,000 cryptocurrencies, stocks, indices, commodities, ETFs, and precious metals. 
• Regulation & Licensing: Regulated by the FMA.‍
• EUR Deposit Methods: Bank transfer, debit card, credit card, Google Pay, and Apple Pay.

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5. ‍Binance

Binance is the most widely used cryptocurrency exchange globally, trusted by over 236 million users globally. It offers access to more than 350 cryptocurrencies with low trading fees and advanced trading features like margin, futures, and spot trading. The platform also has features like Binance Earn, where users can stake or lend their crypto, and the Binance NFT marketplace.

One of Binance’s key strengths is its ecosystem, which includes everything from an educational hub (Binance Academy) to institutional-grade research tools (Binance Research) and its own blockchain, Binance Chain (BNB). The platform is also known for its top-tier security measures, such as multi-factor authentication, cold storage for user funds and its regular reserves audits. 

• Fees: Maker fees start at 0.1%, and taker fees start at 0.1%.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation and Licensing: Operates under global regulatory standards but is not directly licensed by the FMA.
• EUR Deposit Methods: SEPA transfers, bank transfers, credit and debit cards.

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Is Crypto Regulated in Austria?

Cryptocurrency in Austria is regulated by the Austrian Financial Market Authority (FMA), which supervises crypto-asset service providers (CASPs) like exchanges, custodians, and issuers. This regulatory oversight has been strengthened by implementing the EU’s Markets in Crypto-Assets Regulation (MiCA), which sets comprehensive legal guidelines for digital assets. 

MiCA, which will be fully enforced in Austria by December 2024, introduces rigorous measures to safeguard consumer protection, prevent market abuse, and maintain financial stability. The regulation applies to all entities involved in the issuance, custody, and trading of crypto-assets, including well-known digital assets like Bitcoin and Ethereum. 

The FMA has also issued detailed guidance to assist market participants with the authorisation process, ensuring clarity and legal certainty for both new and existing businesses operating in Austria.

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How is Crypto Taxed in Austria?

Since March 1, 2022, cryptocurrency has been treated as capital assets under the Environmentally Responsible Tax Reform, with a special tax rate of 27.5% applied to their income. This includes income from the sale or exchange of cryptocurrencies and earnings from activities like staking or lending. 

The Tax Authority Austria states that the tax applies regardless of how long the cryptocurrency has been held, meaning there is no minimum holding period for tax exemption. The definition of taxable income covers realized gains, such as when crypto is converted into euros or used to purchase goods or services.

Cryptocurrency obtained through mining or other technical processes also falls under taxable income. However, staking rewards are only taxed if they are actively earned from participation in network processes like block creation, not from passive staking. Losses from crypto activities can be offset against other capital gains, reducing the overall tax burden.

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How to Buy Bitcoin in Austria

Austrian investors interested in purchasing Bitcoin must use a cryptocurrency exchange regulated by the Austrian Financial Market Authority (FMA). Here's how to get started:

1. Create an Account: Visit the official website of a regulated exchange. Click on "Sign Up" to open a new account. You'll need to complete the verification process, which typically involves providing a valid photo ID and proof of address.
2. Deposit Euros (EUR): Go to the deposit section once your account is set up. Select the Euro as your currency and enter the amount you'd like to deposit. Choose your preferred payment method and follow the instructions to complete the transaction.
3. Select Bitcoin: After your funds are available in your account, proceed to the trading or exchange section. Search for Bitcoin (BTC) and choose the EUR/BTC trading pair to view current market prices. 
4. Complete the Purchase: Enter the amount of Bitcoin you want to buy or specify the amount of EUR you wish to spend. Carefully review the transaction details, including any fees and the total cost. When you're ready, confirm the transaction to execute the trade.

By choosing a regulated exchange and following these steps, you can invest in digital assets with confidence.

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Bottom Line

Choosing the best crypto exchange in Austria comes down to your individual needs. Selecting platforms that comply with Austrian Financial Market Authority (FMA) regulations, such as Binance, Kraken, Uphold, Bybit, or Bitpanda, ensures a compliant investment experience.

Each of these options offers a range of features tailored to different user preferences, providing Austrian investors with the confidence to safely navigate the crypto market.