Best Crypto Exchanges in Sweden

Top Crypto Trading Platforms in Sweden

To help local investors navigate the growing cryptocurrency market, our team tested the 23 digital asset platforms available in Sweden. We focused on key factors, including compliance with the Finansinspektionen, SEK deposit options, supported cryptocurrencies, trading fees, and features. Below is a comparison table of the top five crypto exchanges for Swedish users.

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1. Bybit

Bybit is the top cryptocurrency exchange in Sweden, offering access to over 1,500 digital assets for spot trading and more than 400 derivatives contracts with leverage options up to 100x. The platform has over 55 million customers worldwide, provides a multilingual interface that can be used in Swedish, and facilitates SEK deposits through local payment options like SEPA.

It has over $20 billion in trading volume across both order books, providing deep liquidity for its users. There is a suite of trading tools, such as copy trading, AI-driven market analysis through TradeGPT, and customizable trading bots for both spot and futures markets. Additional features include staking options, lending and borrowing services, a crypto card and an NFT marketplace.

• Fees: Maker fee of 0.02% and taker fee of 0.055%, with spot trading fees set at 0.1%.
• Supported Assets: Over 1,500 cryptocurrencies.
• Regulation & Licensing: Regulated by CySEC across Europe and available in Sweden.
• SEK Deposit Methods: Bank transfers, credit cards, debit cards, SEPA, Samsung Pay, Google Pay, Zen and Apple Pay.

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2. Kraken

Kraken is a popular exchange designed to meet the needs of both individual and institutional investors in Sweden. Known for its exceptional security, it implements advanced measures like 2FA, cold storage for funds, and its Proof of Reserves audits to ensure customer asset safety. The platform offers spot trading for over 290 cryptocurrencies and 100+ futures contracts with up to 5x leverage. 

The platform also features staking services for earning passive income on digital assets, with competitive APYs. Institutions benefit from dedicated OTC trading desks, deep liquidity pools, and tailored trading solutions through Kraken Pro. Additionally, users can access the Kraken NFT marketplace to buy, sell, and hold digital collectibles.

• Fees: Maker fees start at 0.16% and taker fees at 0.26%.
• Supported Assets: Over 290 cryptocurrencies.
• Regulation & Licensing: Registered as a VASP across Europe and available in Sweden.
• SEK Deposit Methods: Bank transfers, credit cards, debit cards, Apple Pay and Google Pay.

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3. KuCoin

KuCoin provides Swedish investors access to 700 digital assets and advanced features such as margin trading, futures contracts, and leveraged tokens with leverage options up to 100x supported. The trading bot feature enables automated trading strategies, including futures grid and spot grid, allowing users to optimize their trading activities.

For those interested in earning passive income, KuCoin offers various Earn products. This includes staking, which allows users to stake their assets with flexible terms and competitive annual percentage rates (APRs) up to 450%. The Savings product also provides a flexible way to earn interest on idle funds, with daily compounded earnings and the ability to redeem assets at any time. 

• Fees: 0.1% for both makers and takers, with discounts available for those paying with KuCoin's native token (KCS).
• Supported Assets: Over 700 cryptocurrencies.
• Regulation & Licensing: Not regulated in Sweden but accessible for users.
• SEK Deposit Methods: Bank transfers, SEPA and credit/debit cards.

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4. Gate.io

Gate.io is a comprehensive cryptocurrency exchange offering Swedish investors access to over 2,900 digital assets. The platform has features like spot and margin trading, futures contracts, and various trading tools. The Strategy Bot enables users to implement strategies such as spot grid, futures grid, and martingale, facilitating automated trading based on predefined parameters. 

Additionally, the platform offers copy trading, allowing users to mirror the trades of successful traders, thereby leveraging expert insights. Beyond trading, Gate.io provides financial products like Simple Earn for earning interest on idle funds, staking services for various cryptocurrencies, and crypto loans that let users borrow against their digital assets.

• Fees: 0.1% for maker orders and 0.2% for taker orders on spot markets.
• Supported Assets: More than 2,900 digital assets.
• Regulation & Licensing: While not directly licensed in Sweden, it remains accessible to Swedish users.‍
• SEK Deposit Methods: Bank transfers, debit cards, credit cards, PayPal and Apple Pay.

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5. Safello

Safello is an exchange based in Stockholm, offering Swedish users a secure and user-friendly experience for buying and selling 50 digital assets. The platform facilitates SEK deposits through BankID verification, ensuring compliance with Swedish financial regulations. The Auto-Save feature enables users to automate their cryptocurrency investments, allowing for regular purchases.

For high-volume traders, Safello provides an OTC service designed for transactions exceeding 5 million SEK, offering deep liquidity and personalized support to ensure optimal pricing and swift settlement. Additionally, Safello has partnered with Divly to simplify the tax reporting process for cryptocurrency transactions, providing users with tools to generate necessary tax documentation. 

• Fees: Tiered volume-based fees for buying/selling range from 1% to 5%, with additional withdrawal and administrative fees.
• Supported Assets: Supports 50 cryptocurrencies.
• Regulation & Licensing: Registered with the Swedish Financial Supervisory Authority.‍
• SEK Deposit Methods: Mobile BankID.

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Is Crypto Regulated in Sweden?

Sweden has established itself as a leader in cryptocurrency regulation, with the Swedish Financial Supervisory Authority (Finansinspektionen) overseeing digital asset activities, ensuring compliance with the Anti-Money Laundering and Terrorist Financing Act (2017:630). 

In line with the European Union's Markets in Crypto-Assets (MiCA) regulation, which becomes applicable in 2024, Sweden will harmonize its crypto regulations with EU standards. Swedish companies already registered with FI must transition to MiCA requirements by September 2025.

Beyond regulation, Sweden fosters blockchain innovation through initiatives like the Swedish Blockchain Association, which promotes education and collaboration within the industry. The country also explores blockchain applications in various sectors, including finance and public services, to enhance efficiency and transparency. 

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How is Crypto Taxed in Sweden?

In Sweden, the taxation of cryptocurrency transactions is overseen by the Swedish Tax Agency (Skatteverket), which classifies digital assets as "other assets" for tax purposes. This classification subjects various crypto-related activities to specific tax obligations:

• Capital Gains Tax: You incur a capital gain or loss when you dispose of cryptocurrency, whether by selling it, trading it for another digital asset, or using it to purchase goods and services. Gains are taxed at a flat rate of 30%. If you realize a loss, 70% of that loss can be deducted against other capital gains.
• Income Tax: Earnings from activities such as mining, staking, or receiving crypto as payment for services are considered income. Such income is subject to both national and municipal income taxes. The national income tax rate is 20% for annual incomes exceeding SEK 613,900, while municipal tax rates average around 32%, varying by locality.
• Interest Income Tax: Profits generated from lending crypto or participating in certain decentralized finance (DeFi) protocols are treated as interest income and taxed at 30%.

It's important to note that merely purchasing or holding cryptocurrency is not a taxable event in Sweden. However, any transactions involving the disposal of crypto assets must be documented to ensure accurate reporting.

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‍How to Buy Bitcoin in Sweden

For Swedish investors, purchasing Bitcoin is a straightforward process, with several platforms supporting SEK deposits and operating under the oversight of the Finansinspektionen. Here's a step-by-step guide to buying BTC in Sweden:

1. Select a Reliable Exchange: Choose a trusted cryptocurrency platform that supports SEK deposits and complies with Finansinspektionen’s regulatory requirements.
2. Create Your Account: Sign up by entering your personal details, including name, email, and password. Complete the Know Your Customer (KYC) process by uploading a valid ID and proof of residence.
3. Deposit Swedish Kronor (SEK): Go to the deposit section on the platform. Select your preferred payment method, such as bank transfer or card payment. Enter the amount of SEK you wish to deposit and follow the instructions.
4. Locate Bitcoin (BTC): Once your funds are available, navigate to the trading section and search for Bitcoin (BTC). Select the SEK/BTC trading pair to begin your purchase.
5. Complete Your Purchase: Decide on the amount of Bitcoin you want to buy or the SEK amount you wish to spend, confirm the details, and execute the transaction.

For added security, consider transferring your Bitcoin to a private wallet after completing your purchase.

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Bottom Line

Sweden's crypto market is rapidly growing, supported by oversight from the Finansinspektionen. Leading platforms such as Bybit, Kraken, KuCoin, Gate.io and Safello, and offer exceptional services for Swedish investors seeking secure crypto exchanges.

These exchanges distinguish themselves through innovative features, including intuitive interfaces, advanced trading tools, seamless SEK deposit options, and competitive staking rewards.