A detailed review outlining the best crypto exchanges in Austria. Learn about the leading platforms and compare their fees, features, security, support options, and more to trade Bitcoin and other digital assets legally.
Summary of 5 Best Crypto Exchanges in Austria
In Austria, experts advise utilizing exchanges regulated by the Financial Market Authority (FMA) or European authorities for lawfully purchasing and trading cryptocurrencies with Euros. By depositing via bank transfers or cards, individuals can securely invest in digital assets.
For beginners starting crypto investing in Austria, we’ve reviewed the top platforms:
- eToro – Best Overall Crypto Exchange in Austria
- Bitpanda – Top Austrian-based Exchange
- Bybit – Best for Crypto Derivatives Traders
- Uphold – Best for Crypto Beginners
- Kraken – Ideal for Institutional Investors
Best Crypto Exchanges in Austria: A Guide for Investors
eToro Overview
eToro has been rated the best overall crypto exchange in Austria due to its vast selection of assets, intuitive interface, social and copy trading tools, and strong regulatory compliance. Key features include:
- Trades 3,000+ crypto assets, including Bitcoin, Ethereum, XRP, and DeFi coins as well as stocks, ETFs, indices and commodities
- Offers leveraged trading up to x2 with tight spreads from as low as 0.75%
- CopyTrader system allows users to automatically copy positions opened by top investors
- Regulated across Europe, including by the Cyprus SEC and UK FCA
- Supports Euro deposits through SEPA, Swift, credit/debit cards, PayPal
- Insured account balances and asset segregation measures
- User-friendly mobile app alongside the web platform
We recommend eToro for its social features, asset diversity, competitive rates, safety of funds, and accessibility to Europeans.
Bitpanda Overview
Bitpanda, based in Vienna, is a leading Austrian crypto exchange offering:
- Trading in over 2,500 digital assets, including popular cryptos, stocks, ETFs and precious metals
- Staking rewards up to 25% APY on supported coins like ETH, DOT and SOL
- Low fees of 0.15% plus minimal spread charges
- Licensed and regulated in Austria and across the EU (Germany’s BaFin regulated)
- Compliant with Anti-Money laundering (AML) regulations
- Allows fiat-to-crypto trades in Euros through multiple payment methods
- User-friendly website and mobile applications
Bitpanda stands out through its native utility token (BEST), staking features, regulatory credibility, and focus on the European crypto market.
Bybit Overview
Bybit is a fast-growing crypto derivatives exchange catering to Austrian traders seeking advanced trading options. It provides:
- Access to trade 740+ altcoins with 100x leverage futures and perpetual swap contracts
- Competitive maker and taker fee structure of 0.02% and 0.05% respectively
- Consumer protection through the use of cold wallet storage solutions
- Multiple order types such as Conditional, OCO and more
- Fast trade matching engine capable of up to 100,000 transactions per second
- Supports Euro transactions through SEPA, card payments, bank transfers etc.
Bybit’s margin trading, technical analysis tools, liquidity, security standards and negligible fees make it suitable for advanced Austrian traders.
Uphold Overview
Uphold is a secure crypto exchange available to Austrians seeking a transparent and easy-to-use platform. Key aspects include:
- Trades 260+ cryptocurrencies like Bitcoin, Ethereum, Dash with 4 precious metals
- Charges a transparent fee of 1% on trades and 1% on spreads
- Provides proof of reserves to showcase assets are fully backed 1:1
- Enables staking up to 7.5% APY on supported coins
- Licensed by the U.K.’s Financial Conduct Authority
- Seamless Euro deposits through SEPA, bank transfer, cards
- Supports DeFi apps through connected Dapps gallery
- Intuitive user interface on website and mobile app
Uphold prioritizes security and transparency by undergoing regular audits and showcasing assets are adequately backed. Low trading fees, staking rewards and quick Euro funding make it accessible.
Kraken Overview
Kraken caters well to Austrian institutional and retail investors seeking advanced trading tools and tight spreads. It offers:
- Spot, margin and futures trading in 200+ cryptocurrencies and fiat pairs
- Deep liquidity with average exchange trading volumes of $230 billion
- Advanced trading terminal Kraken Pro for pros and institutions
- Staking rewards up to 21% and margin trades with 5x leverage
- Tight spreads from 0.1% and low fees starting 0.02%
- Segregated wallets to safely store client assets and funds
- Available funding options – bank transfer, cards, Apple Pay, Etana
Kraken provides excellent liquidity, reliability, security practices, pro-focused tools, staking rewards and reasonable fees that benefit Austrian traders.
How to Purchase Cryptos in Austria
Follow this comprehensive guide to legally and securely buy cryptocurrencies in Austria:
- Select an FMA-Approved Exchange: Register with a reputable Austrian cryptocurrency exchange regulated by the country’s Financial Market Authority (FMA) like Bitpanda or eToro.
- Account Registration and Verification: Create your exchange account with a strong password. Complete KYC verification by uploading your valid ID proof and confirmation of residence documents.
- Fund Your Account with Euros: Transfer Euros into your exchange account using efficient payment methods like online banking, SEPA transfers or debit/credit card deposits accessible to Austrian users.
- Select and Buy Cryptocurrency: Once your account balance reflects, browse the exchange’s offerings and select a cryptocurrency like Bitcoin or Ethereum to purchase. Input the desired quantity and place your buy order for the amount in EUR or crypto-equivalent. The purchased coins will reflect in your exchange wallet.
- Withdraw to an External Crypto Wallet: For enhanced security, withdraw and transfer your newly-bought cryptocurrency holdings from the exchange to a private wallet. Hardware and software wallets like Trust wallet, Atomic Wallet or Ledger Nano provide robust protection.
The optimal approach involves reliable Austrian exchanges, adequate account funding, cautious investment, and cold storage of assets. Follow the detailed steps outlined here for seamless cryptocurrency investing in Austria.
Legality and Regulation of Crypto in Austria
Cryptocurrencies are treated as commodities, not directly regulated by the FMA currently. Regulations focus on integrity, security, and anti-money laundering. The EU Regulation on Markets in Crypto-assets (MiCA), to be introduced by mid-2024, will standardize rules for crypto-asset providers across Europe.
Is Crypto Legal in Austria?
Yes, cryptocurrencies are legal in Austria but may require licenses for related activities based on business models. The FMA takes a technology-neutral approach, regulating different technologies consistently based on risks.
How is Crypto Taxed in Austria?
Cryptocurrency income, including trading profits, is taxed at 27.5% in Austria. Losses can offset gains. Businesses engaged in crypto activities are taxed at income or corporate rates up to 55%. Mandatory capital gains tax starts on 31 December 2023.
Conclusion:
In summary, Austria provides a balance of innovation and oversight for secure crypto investing. Utilizing regulated platforms like eToro, Bitpanda, and others guarantees efficient, lawful digital asset trading tailored for Austrians.
FAQs
What is the best cryptocurrency exchange in Austria?
According to our extensive evaluation, eToro emerges as the best crypto exchange tailored for Austrian traders thanks to its diverse offerings, social trading tools, competitive rates, and strong regulatory standing across Europe.
Which exchange offers the highest Bitcoin buying limits?
Kraken comes with the highest limits and liquidity to satisfy demands of high-volume Austrian traders and institutions. Purchase limits scale based on verification tiers, with the Pro tier reaching €1 million.
Does Coinbase operate in Austria?
No, Coinbase currently does not offer direct services in Austria. Local investors are advised to opt for well-regulated Austrian exchanges like Bitpanda and Uphold that support Euro transactions.
