Best Crypto Exchanges in Belgium

Best Cryptocurrency Exchange Belgium

Our thorough assessment of the 19 digital asset exchanges available in Belgium has led to identifying the five best options. This comprehensive review evaluated factors such as compliance with the Financial Services and Markets Authority (FSMA), support for EUR deposits, user interface, pricing, variety of supported cryptocurrencies, and features. Below is a comparison table highlighting the top 5 platforms for Belgian investors.

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1. Kraken

Kraken is the best cryptocurrency exchange in Belgium, servicing over 10 million registered users worldwide. Due to this global accessibility, there is a multilingual interface that can be used in French, Dutch, English and 8 other languages. It operates on a cross-border basis using its registration in other European regulators with the CBI. With trading volumes exceeding $207 billion each quarter, its popularity throughout Europe is rising.

There are over 250 cryptocurrencies supported across spot and futures markets with leverage options up to 5x supported. Its dedication to a superior user experience is evident in its highly-rated mobile apps, accessible through the App Store and Google Play. Users can take advantage of the staking services, offering the potential for up to 25% APY. There is also Kraken Pro, which is designed for professional trading, appealing to Belgian institutional investors.

• Fees: 0.01% for maker orders and 0.02% for taker orders.
• Supported Assets: Over 200 spot markets and more than 100 markets with margin trading options.
• Regulation & Licensing: Complies with European financial regulations, ensuring a secure trading environment.‍
• EUR Deposit Methods: SEPA, bank transfers, credit cards, debit cards, and Apple Pay.

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2. Bybit

Bybit is a derivatives trading platform offering an expansive selection of over 1,100 coins. There are spot, futures and options markets available to trade with up to 100x leverage on 180 contracts. To simplify investments, it incorporates local payment methods, including bank transfers, credit cards, Bancontact, and Belfius, making the entry into digital currency investments as smooth as possible.

Supported by strong liquidity and a daily trading volume exceeding $20 billion, the exchange addresses various investment strategies, attracting a diverse client base. It is home to over 30 million registered users across Belgium and 160 other countries, and provides a multilingual interface that can be used in German, French, Dutch and English. Additional features include lending, borrowing and staking services with yields up to 120%.

• Fees: Maker fee of 0.02% and a taker fee of 0.055%, plus a spot trading fee of 0.1%.
• Supported Assets: More than 1,100 digital currencies.
• Regulation & Licensing: Regulated in Europe and available in Belgium.‍
• EUR Deposit Methods: Bank transfers, credit cards, debit cards, Bancontact, Belfius, and digital wallets.

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3. Uphold

Uphold is a leading multi-asset exchange, distinguished by its offering over 250 digital assets for trading and staking. In addition to crypto, there are 27 traditional currencies and 4 precious metals to trade, including Gold, Silver, Palladium and Platinum. This platform operates under the oversight of reputable European financial authorities, ensuring a secure trading environment for Belgian users. 

Uphold stands out in the Belgian market for its commitment to transparency and security. It is one of the select exchanges providing an audited proof-of-reserves, showcasing real-time data on customer fund protection and ensuring their assets are always fully backed 1:1. This level of clarity and accountability positions Uphold as a highly secure and trustworthy exchange.

• Fees: 1% trading fee and 1% spread fee.
• Supported Assets: More than 250 cryptocurrencies, 27 fiat currencies and 4 precious metals.
• Regulation & Licensing: Licensed by the Financial Conduct Authority (FCA) and available in Belgium.‍
• EUR Deposit Methods: SEPA, bank transfer, credit cards, debit cards, Google Pay, and Apple Pay.

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4. OKX

OKX is an exchange with a focus on DeFi related services and products. The platform boasts a selection of over 300 crypto assets, extending its offerings beyond basic spot trading to include futures, options, and margin trading with up to 50x leverage. A standout feature for Web3 enthusiasts is the OKX Wallet, which offers seamless integration with DeFi protocols like AAVE and Uniswap.

Based in Seychelles and adhering to its regulatory framework, OKX remains fully accessible in Belgium. It is particularly suited for institutional traders and those keen on DeFi, thanks to its robust API capabilities, top-tier liquidity, and web3 protocol compatibility. Additional features include the native token - OKB Coin, blockchain - OKT Chain, NFT marketplace and on-chain staking options.

• Fees: 0.1% maker and a 0.2% taker for futures, with a 0.1% fee for spot trading.
• Supported Assets: Over 300 digital assets.
• Regulation & Licensing: While headquartered in Seychelles, it is available in Belgium.‍
• EUR Deposit Methods: SEPA transfers, debit cards, credit cards, and Apple Pay.

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5. Gate.io

Gate.io is an exchange that services over 16 million users across Belgium and 180 other countries. This platform is known for its extensive range of over 2,100 cryptocurrencies, positioning it as a top choice for those interested in trading a diverse collection of digital assets. It's appeal in the Belgian market is enhanced by its zero trading fee feature for select purchases.

It has a significant 24-hour trading volume of $8 billion, Gate.io showcases its capability and popularity in the global crypto landscape. The platform also introduces unique features like trading bots, copy trading services, lending and borrowing, staking options and a dedicated startup section, offering Belgian users various engaging market opportunities.

• Fees: 0.1% for maker orders and 0.2% for taker orders.
• Supported Assets: Over 2,100 digital assets.
• Regulation & Licensing: Based offshore in the Seychelles but available in Belgium.‍
• EUR Deposit Methods: SEPA transfers, debit cards and credit cards.

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Is Crypto Regulated in Belgium?

In Belgium, cryptocurrency regulation mainly targets anti-money laundering, aligning with the EU's Fifth Money Laundering Directive. Virtual asset service providers (VASPs) must register with the Financial Services and Markets Authority (FSMA) if they operate in Belgium. While there are no specific financial regulations for crypto, they fall under existing financial laws.

Key activities like cryptocurrency exchange and custody are regulated. However, borrowing, lending, and staking are not explicitly covered but could be subject to financial or consumer credit regulations. Setting up a crypto asset business or obtaining a license in Belgium typically takes 3 to 5 months and involves regulatory fees of up to 8,000 EUR.

Despite these measures, cryptocurrencies are not fully regulated in Belgium and are not recognized as legal tender. The National Bank of Belgium and the FSMA have issued risk warnings, but there are indications of an evolving legal framework that may offer more comprehensive regulation in the future.

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How is Crypto Taxed in Belgium?

The Special Tax Inspectorate (STI) oversees the taxation of cryptocurrencies, typically treating income or gains from crypto transactions as "miscellaneous income," which is subject to tax. The taxation of crypto depends on the nature of the transactions and the profile of the taxpayer. For individuals, occasional crypto transactions are typically considered speculative and are subject to a 33% tax on capital gains. 

However, if crypto trading is a professional activity, the income is taxed as professional income at rates ranging from 25% to 50%. For businesses, profits from cryptocurrency transactions are subject to corporate tax, which is generally 25%. While the FSMA called for digital currency regulation in 2020, comprehensive tax policies or regulations tailored specifically to crypto have yet to be fully established.

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How to Buy Bitcoin in Belgium

This guide details the process for purchasing Bitcoin and other cryptocurrencies in Belgium through a digital asset exchange.

1. Open Account: Start by creating an account on your chosen cryptocurrency exchange. Visit the website and click on the "Sign Up" or "Register" button. Provide your name, email address, and create a strong password. Complete the identity verification process by uploading a photo ID, such as a passport or driving license, and potentially a selfie or proof of address.
2. Deposit Euros (EUR): Go to the deposit section of your account. Select Euros (EUR) as your deposit currency. Enter the amount of EUR you want to transfer. Review the platform’s fees and limits to understand the costs and processing time for your funds. Confirm the deposit and follow any additional instructions to complete the transaction.
3. Select Cryptocurrency: To buy Bitcoin or other cryptocurrencies, go to the trading section. Enter the coin name or symbol in the search box. For instance, search for BTC to buy Bitcoin. Choose the EUR/BTC pair to see the current market rate. Review the available trading options, such as market or limit orders.
4. Execute Trade: Click the ‘buy’ or ‘trade’ button to purchase your chosen token. Enter the amount of Bitcoin (or another cryptocurrency) you want to buy, or the amount of EUR you wish to spend. Review the order details, including the price, fees, and total cost. Confirm the trade by clicking the ‘buy’ or ‘confirm’ button. 

This guide provides a detailed breakdown of the purchasing process on an investment platform for Belgian users. This includes engaging in digital asset trading, from account setup to executing trades.

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Bottom Line

In conclusion, Belgium's progressive stance on crypto and robust regulatory framework, overseen by the Financial Services and Markets Authority (FSMA), makes it a favorable environment for Belgian investors. This guide highlights the top 5 digital asset exchanges, Kraken, Bybit, Uphold, OKX, and Gate.io, each offering unique features tailored to various trading needs.