Best Crypto Exchanges in Spain

Best Cryptocurrency Exchanges in Spain

Our team has carried out a thorough evaluation of 34 crypto platforms available to users in Spain. They were assessed based on compliance with the CNMV and the Bank of Spain regulations. Additional factors considered include the supported tokens, user interface, fees, and Euro deposit options. Below are the top 5 exchanges for Spanish investors.

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1. Uphold

Uphold is the best crypto exchange in Spain, with 10 million users across 150 countries. It offers over 250 digital currencies plus other asset classes, including 27 fiat currencies and 4 precious metals. Users can earn up to 4.9% APY on USD balances over $1,000, with instant access to their funds and no lockup periods. There are 30 additional tokens offering up to 25% APY.

Security is a big deal at Uphold. The exchange publishes its assets and liabilities every 30 seconds, so you know your funds are fully backed on a 1:1 basis. Plus, they never loan out your assets, keeping everything transparent. Thanks to its global accessibility, the platform can be used in both English and Spanish.

• Fees: Spreads range from 0.8% to 1.2%, depending on your asset.
• Supported Assets: 250+ digital assets, 4 precious metals, and 27 fiat currencies.
• Regulation & Licensing: Uphold adheres to Spanish regulations and is registered with the Bank of Lithuania.
• EUR Deposit Methods: Bank transfers, SEPA, Google Pay, Apple Pay, credit cards, and debit cards.

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2. Bybit

Bybit is popular for its wide range of over 1,400 cryptocurrencies for spot trading. It provides advanced tools, such as the Grid Bot and DCA Bot, which help automate trading strategies for users who prefer a hands-off approach. There are also copy trading services and TradeGPT, an AI-driven tool that assists users in making informed decisions based on market data.

Home to over 50 million users, Bybit can be used in Spanish and 22 other languages. It also provides live local customer support and has free EUR deposits. The exchange offers an ecosystem of financial products, including staking, lending, and borrowing options, allowing users to grow their portfolios passively. 

• Fees: Spot trading fees are 0.1%.
• Supported Assets: Over 1,400 digital assets.
• Regulation & Licensing: Licensed by CySEC and available to Spanish investors.
• EUR Deposit Methods: Bank transfers, SEPA, debit cards, credit cards, Google Pay, Apple Pay and Easybank.

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3. eToro

eToro is ideal for Spanish investors who are interested in more than just cryptocurrencies.  It offers 80+ digital currencies, plus over 6,000 stocks and ETFs, making it a one-stop shop for managing financial assets. The most popular feature is the social trading service that allows users to follow and copy the trades of top investors. 

Additional features include a demo account, allowing users to practice trading strategies before committing real funds, plus Smart Portfolios, which provide a managed investment option. The commitment of eToro to regulatory compliance sets a high standard. It is a virtual asset service provider (VASP) by the Bank of Spain. It can also be used in Spanish and 20 other languages.

• Fees: eToro operates on a variable spread fee structure, typically around 1%.
• Supported Assets: Over 6,000 assets, including 80 cryptocurrencies.
• Regulation & Licensing: eToro (Europe) Digital Assets Ltd is registered with the Bank of Spain.‍
• EUR Deposit Methods: Bank transfers, debit cards, credit cards, and SEPA.

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4. ‍Bit2Me

Bit2Me is the leading Spanish exchange based in Alicante. It supports over 310 digital currencies for trading and staking. You can earn up to 28.8% in passive income through Bit2Me Earn or use the Bit2Me Card to pay with crypto anywhere and get up to 30% cashback. Their wallet is secure with $150 million in insurance, ensuring all assets are protected.

As the first exchange registered with the Bank of Spain, Bit2Me has strong backing from companies like Telefónica and Investcorp. The platform also offers Pro-level trading with low fees, easy tax reporting, and even business solutions like custody and blockchain integration. It also supports seamless Euro deposits and withdrawals, providing multiple local methods.

• Fees: Trading fees are 0.95% per transaction.
• Supported Assets: Over 310 cryptocurrencies.
• Regulation & Licensing: Registered with the Bank of Spain under number D592.
• EUR Deposit Methods: Bank transfer, credit card, debit card, Apple Pay and Google Pay.

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5. Bitpanda

Bitpanda is one of Europe's leading platforms for investing in cryptocurrencies, stocks, ETFs, and metals. Headquartered in Vienna, Austria, it has been making waves since 2014 by offering a wide range of investment options. With over 5 million users and a robust selection of 3,000+ digital assets, it allows users to buy, sell, and swap assets with ease. 

One of its standout features is the ability to start investing from as little as €1. Bitpanda offers advanced tools like savings plans to automate regular investments and the Bitpanda Visa card, which allows users to spend crypto, stocks, or metals. Additionally, Bitpanda Pro offers a more advanced interface for traders seeking lower fees and deeper liquidity.

• Fees: Trading fees are set at 0.2%.
• Supported Assets: 3,000 cryptocurrencies, stocks, ETFs, fiat currencies, indices, and precious metals.
• Regulation & Licensing: Registered in Spain as a virtual currency exchange and digital asset custody service provider with the Bank of Spain.
• EUR Deposit Methods: Bank transfers, SEPA, debit card, and credit card.

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Is Crypto Legal in Spain?

Yes, cryptocurrency is legal and regulated in Spain. The National Securities Market Commission (CNMV) and the Bank of Spain are the main regulators. The CNMV oversees crypto assets classified as financial instruments and will also monitor crypto-asset service providers once the Markets in Crypto-Assets (MiCA) regulation is implemented in 2024.

The Bank of Spain handles the regulation of electronic money tokens (EMTs) and asset-referenced tokens (ARTs). Spain also has stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations in place for crypto transactions.

Crypto service providers in Spain are required to obtain a Virtual Asset Service Provider (VASP) license from the Bank of Spain. Without this license, platforms cannot legally offer fiat-to-crypto exchange services.

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How is Crypto Taxed in Spain?

In Spain, cryptocurrencies are subject to capital gains tax (CGT). This means a taxable event occurs whenever you sell, trade, or use crypto for payments, and you must report it to the Spanish Tax Agency (Agencia Tributaria). The tax rates are progressive, starting at 19% for profits up to €6,000 and going as high as 28% for gains over €300,000. 

Mining income is taxed as regular income, with rates ranging from 19% to 47%, depending on your overall earnings. If you hold more than €50,000 in crypto outside Spain, you must declare it using Form 721. Keeping good records is key, and it’s worth considering professional help to stay on top of your crypto taxes.

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How to Buy Bitcoin in Spain

The process of purchasing Bitcoin in Spain is both simple and secure when using a cryptocurrency exchange regulated by the CNMV. Follow this guide to get started:

1. Create an Account: Choose a trusted exchange that supports euro (EUR) deposits and is compliant with the Bank of Spain’s regulations. Sign up by providing your details, complete the identity verification process, and submit necessary documents like your ID and proof of address.
2. Deposit EUR: Once your account is verified, navigate to the deposit section, select EUR, and enter the amount you wish to invest. Most exchanges offer deposit methods such as bank transfers, SEPA, or credit/debit cards.
3. Locate Bitcoin: Go to the trading section and search for Bitcoin (BTC). You’ll see the current price in the EUR/BTC pair. You can either place a market order to buy at the current price or set a limit order if you want to purchase at a specific price.
4. Complete Your Purchase: Review the amount of Bitcoin you’re buying along with any fees. Once you’re satisfied, click 'buy' to finalise your transaction.

After the transaction is completed, your Bitcoin will appear in your exchange wallet. For added security, consider transferring your Bitcoin to a personal wallet where you control the private keys. 

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Bottom Line

In conclusion, Spain's cryptocurrency market is thriving, with strong regulatory oversight from the CNMV and the Bank of Spain. Platforms like Uphold, Bybit, eToro, Bit2Me, and Bitpanda offer secure, accessible options for local traders. These exchanges provide various assets, competitive fees, and easy Euro deposit methods.

As the crypto landscape evolves, choosing a regulated platform ensures safety and compliance while maximising investment opportunities.