Best Crypto Exchanges in Finland

Best Cryptocurrency Exchanges in Finland

Our team tested the 19 crypto exchanges available to Finnish investors and identified the top options. This analysis considered the Finnish Financial Supervisory Authority (FIN-FSA) compliance, euro deposit methods, trading fees, supported assets, and platform features. Below is a comparison table of the top 5 platforms for users in Finland.

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1. Bybit

Bybit is the best exchange in Finland, providing access to over 1,500 digital assets for spot trading. Users can trade over 440 futures contracts with up to 200x leverage, and it offers advanced tools like trading bots, copy trading services, a demo account, TradeGPT, pre-market spot trading and a Shariah-compliant account. 

In addition to trading, Bybit offers services like the Bybit Card, which allows for everyday spending, an NFT marketplace, staking services, a lending and borrowing feature and a Launchpad. To ensure user trust, the exchange maintains a live proof-of-reserves system to verify all assets are backed on a 1:1 basis and that funds are always withdrawable. 

• Fees: Spot trading is 0.1%, and derivatives are 0.02% maker and 0.06% taker.
• Supported Assets: Over 1,500 cryptocurrencies.
• Regulation & Licensing: Licensed by CySEC and available in Finland.
• EUR Deposit Methods: SEPA, Zen, Wise, Easybank, bank transfers, debit or credit cards, Google Pay, Apple Pay and iDEAL.

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2. Kraken

Kraken is an exchange in Finland, known for its transparent operations. The platform offers spot trading for over 290 cryptocurrencies, margin trading with up to 5x leverage, and futures trading with more than 100 multi-collateral contracts. Kraken Pro caters to advanced traders, providing sophisticated tools, real-time market data and personalized account managers for large trades. 

Additionally, the NFT marketplace allows users to trade digital collectibles without gas fees. The key feature of Kraken is its commitment to transparency through regular Proof-of-Reserves audits, ensuring that client assets are fully backed and accessible. The platform also offers staking services, enabling users to earn up to 28% APY on their crypto holdings.

• Fees: Maker fees start at 0.16% and taker fees at 0.26%.
• Supported Assets: Over 290 cryptocurrencies.
• Regulation & Licensing: Registered as a Virtual Asset Service Provider (VASP) in Europe and available in Finland.
• EUR Deposit Methods: SEPA, SWIFT, PayPal, bank transfers, and credit or debit cards.

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3. Uphold

Uphold enables users in Finland to buy, sell, and trade a wide range of 300 assets, including cryptocurrencies, precious metals, and national currencies. The platform offers a user-friendly interface, facilitating seamless transactions across different asset classes. Its commitment to transparency is evident through its real-time publication of assets and liabilities.

Users can also take advantage of the Uphold Card, which allows them to spend crypto and other assets directly from their Uphold account. The card is accepted by over 50 million merchants worldwide via the Mastercard network, providing significant utility. Customers earn a 1% cashback, paid out in GBP, on card purchases funded by a national currency balance.

• Fees: Trading fees range from 0.6% to 1.6%.
• Supported Assets: Over 300 digital assets, 4 precious metals, and 27 fiat currencies.
• Regulation & Licensing: Compliant with European regulations and operational in Finland.‍
• EUR Deposit Methods: Bank transfers, Google Pay, Apple Pay, and credit or debit cards.

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4. Northcrypto

Northcrypto is a Finnish cryptocurrency exchange that was established in 2018 and is based in Turku. It was the first platform in the country to be registered with the Finnish Financial Supervisory Authority. The platform supports 10 cryptocurrencies, including Bitcoin, Ethereum, Solana, Litecoin, Chainlink, Aave, Polygon, ApeCoin, Dogecoin, and USDC. 

Users can set up automatic purchases to facilitate regular savings in cryptocurrencies, combining this with recurring bank payments for fully automated weekly or monthly investments. Northcrypto also offers a referral program, allowing users to earn by inviting friends to join the platform.

• Fees: Trading fee of 1% plus a variable spread.
• Supported Assets: 10 cryptocurrencies.
• Regulation & Licensing: Registered with the Finnish Financial Supervisory Authority.
• EUR Deposit Methods: Bank transfer and credit cards.

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5. OKX

OKX is a top cryptocurrency exchange offering access to more than 350 cryptocurrencies and thousands of NFTs, enabling users to diversify their portfolios with ease. It supports spot trading, futures, and options with up to 100x leverage available. The exchange also features advanced tools, including trading bots and a liquid marketplace for custom strategies and block trades.

Beyond trading, OKX has expanded into the Web3 space with its self-custodial wallet, supporting over 100 blockchains. This wallet enables users to manage, swap, and explore many on-chain assets, including NFTs. Additionally, OKX offers structured products designed to optimize returns, catering to various risk appetites.

• Fees: Competitive trading fees starting at 0.1% for spot trades.
• Supported Assets: 350+ cryptocurrencies.
• Regulation & Licensing: OKX operates globally and complies with international regulations.
• Deposit Methods: Bank transfers and credit or debit cards.

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Is Crypto Regulated in Finland?

Yes, cryptocurrency activities in Finland are regulated under the Markets in Crypto-Assets (MiCA) Regulation, managed by the Finnish Financial Supervisory Authority (FIN-FSA). This regulation establishes a clear framework for various crypto activities, such as issuing digital assets, offering them to the public, seeking their admission to trading, and providing crypto services. 

The MiCA Regulation also enforces rigorous standards around anti-money laundering (AML) and counter-terrorist financing (CTF) to ensure market stability and investor protection. Under these rules, crypto-asset service providers need FIN-FSA authorization, and investors are encouraged to verify any provider's registration in the public FIN-FSA register. 

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How is Crypto Taxed in Finland?

In Finland, crypto transactions are subject to specific tax regulations, overseen by the Finnish Tax Administration (Vero). Cryptocurrencies are treated as assets, meaning capital gains tax applies when converting them into fiat currency, exchanging them for other digital assets, or using them for purchases. This is taxed as capital income, with gains reported under capital gains.

The tax rate is 30% for capital income up to €30,000 and 34% for any amount exceeding this threshold. Taxpayers must report all crypto transactions on their tax returns, adhering to the First In, First Out (FIFO) principle, which assumes the earliest acquired assets are sold first. 

If the original purchase details are unavailable, a deemed acquisition cost can be applied, allowing a deduction of 20% of the selling price for assets held less than 10 years, and 40% for those held longer.

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How to Buy Bitcoin in Finland

Finnish investors looking to buy Bitcoin must choose an exchange that supports euro (EUR) deposits and complies with the Finnish Financial Supervisory Authority (FIN-FSA) regulations. Follow this guide to get started:

1. Create an Account: Sign up with an exchange that aligns with FIN-FSA regulations. Begin by providing basic details, such as your name and email, and complete identity verification by uploading an official ID, such as your passport or Finnish ID card.
2. Deposit EUR: Go to the deposit section on your dashboard, enter the amount in euros (EUR) you wish to invest, and select your preferred payment method, such as bank transfer or credit card.
3. Find Bitcoin: Navigate to the trading section, type “BTC” in the search bar to locate Bitcoin, and select the EUR/BTC trading pair. Enter the details of your intended purchase.
4. Execute the Trade: Confirm the amount of Bitcoin you want to buy, double-check the transaction details, and complete your purchase.

This guide covers each step, from setting up your account to executing your first Bitcoin transaction, simplifying the process for new investors in Finland.

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Bottom Line

Choosing the right crypto exchange in Finland comes down to your individual trading goals and the features that best support your investment strategy. For Finnish users, we recommend exchanges that align with FIN-FSA guidelines, such as Bybit, Kraken, Northcrypto, Uphold, and OKX.

Each of these platforms caters to various experience levels and offers diverse tools, enabling Finnish investors to trade securely.