Our expert crypto analyst panel reveals the 5 best crypto exchanges in Hungary for buying and trading Bitcoin securely in 2024. After rigorous testing and research, these regulated brokers ranked the highest for their low fees, high-security standards, ease of use, and variety of coins/features for Hungarian crypto investors.
Summary of the 5 Best Crypto Exchanges in Hungary:
In Hungary, experts recommend opting for exchanges overseen by the Central Bank of Hungary (MNB) for legal and secure crypto transactions. By depositing Hungarian Forint (HUF) through domestic bank transfers or debit/credit card payments, individuals can seamlessly purchase and trade digital currencies.
For beginners starting their crypto journey in Hungary, we have analyzed the leading solutions across the region:
- eToro – Best Overall Crypto Exchange in Hungary
- Plus500 – Top Security Provisions
- Skilling – Most Beginner Friendly
- Binance – Widest Variety of Coins
- Bitpanda – Best for Small Investments
eToro Overview
Rated as the best all-around crypto trading experience in Hungary, eToro excels through low fees, an abundance of educational resources tailored to first-time investors, an intuitive interface with guided walkthroughs, and innovative social/copy trading capabilities.
Best Features
- Access to 30+ leading cryptocurrencies
- Flat 1% fee charged on all crypto buy/sell transactions
- CopyPortfolios allow users to automatically mimic positions opened by top traders
- Built-in multi-signature eToro crypto wallet supporting 18 digital assets
- Available on web, iOS, and Android
- Regulated across Europe by Tier 1 bodies like the UK FCA
Why we like it: eToro reduces barriers to entry for crypto investing by packaging an arsenal of educational materials, copy trading abilities, demo accounts, and an easy-to-use platform that appeals to most beginners.
Plus500 Overview
Plus500 secures second place primarily due to its focus on security, transparent fee structure, and availability across devices/operating systems using web-based trading technology.
Best Features
- Access to 8 top cryptocurrencies including BTC, ETH, XRP, ADA, DOT
- Tight spreads starting from just 0.9 points – no commissions
- Sophisticated risk management tools like customizable alerts and stop losses
- Free unlimited demo account to practice trading risk-free
- Regulated by Tier 1 authorities like the UK’s FCA and Cyprus SEC
Why we like it: Plus500 lets traders calculate potential profits or losses upfront through its easy-to-understand, commission-free fee breakdown coupled with advanced risk mitigation features.
Skilling Overview
Skilling snags third place due to its intuitive yet powerful trading platforms tailored to both new and advanced crypto traders, available across devices.
Best Features
- Commission-free trading on 60+ crypto CFD products
- Competitive 0.1% maker/taker fee model
- Seamlessly integrate TradingView charts & tools with linked account
- Access to over 800 assets across 17 global markets
- Regulated by Tier 1 authorities – CySEC and the Seychelles FSA
- Intuitive web trader platform and mobile trading apps
- Cryptocurrency CFDs include BTC/USD, ETH/USD, LTC/USD, BCH/USD, XRP/USD, DOT/USD
- Customizable layouts and advanced charting capabilities
- Multilingual 24/5 customer support
Why we like it: Skilling reduces barriers to accessing global trading markets through cutting-edge yet easy-to-use proprietary platforms with a focus on usability across devices.
Binance Overview
As the largest global crypto exchange, Binance leads the industry in altcoin availability, trading volumes across assets, blockchain integration, and ancillary crypto solution services like staking, loans, and debit cards.
Best Features
- 500+ cryptocurrencies available to trade or invest in
- Competitive 0.1% spot trading fee
- High liquidity across 1000+ trading pairs
- Deep liquidity across derivatives markets via Binance Futures and Margin platforms
- Top choice for staking, lending, and savings accounts
- $15-$30 billion in average daily trading volume
- Around 30 million global users
- Top 15 most popular website globally
- Accessible via iOS, Android, Windows, macOS
- Licensed and regulated across multiple jurisdictions
Why we like it: Binance provides an unparalleled variety of digital assets to trade or invest in while integrating with the broader blockchain ecosystem through staking, borrowing, debit card rewards, and more.
Bitpanda Overview
Bitpanda grabs fifth place given its focus on making investing easy for first-timers through fractional crypto trading structured savings plans and intuitive mobile apps tailored for beginners.
Best Features
- Access to 50+ leading cryptocurrencies including BTC, ETH, XRP, ADA, SOL and more
- Fractional investing – minimum $1
- Automated savings plans with recurring buys
- Bitpanda Pay allows users to spend crypto balances directly with their Bitpanda Card
- Wide variety of 13 funding methods in EUR currency including bank transfer, Neteller, Skrill, credit cards
- Regulated in Austria by the FMA
- Insured custody through integration with Coinbase
- Beginner-friendly web platform and mobile app
Why we like it: Bitpanda reduces the most significant barriers discouraging first-time investors from accessing the crypto economy by enabling fractional trades from just $1 and automated builds saving toward goals over time. The ability to directly spend crypto via the Bitpanda Card also provides flexibility.
How to Purchase Cryptocurrency in Hungary
For beginners looking to buy crypto assets in Hungary, follow this straightforward guide:
- Select a secure, MNB-regulated Hungarian crypto exchange platform from our list
- Complete the quick and easy registration process
- Verify your identity by submitting requested ID documents
- Deposit HUF funds via local bank transfer or debit/credit cards
- Search for and select your preferred coin (BTC, ETH, etc) along with order details
- Execute your purchase order to officially buy cryptocurrency
Is Crypto Legal in Hungary?
Yes, cryptocurrency is fully legal and regulated for trading within clear guidelines enforced by the Central Bank of Hungary (MNB). All exchanges and related entities must implement KYC and AML measures.
How is Crypto Taxed in Hungary?
Capital gains from cryptocurrency trades, staking rewards, lending interest, or mining returns over $2400 per year are subject to a 15% tax in Hungary. Crypto profits must be declared under ‘other income’ in annual tax returns.
Conclusion
In summary, utilizing regulated and secure Hungary-based crypto exchanges is vital for seamless access to digital asset investing within a legal framework. For most beginners, eToro leads as the best all-around platform given its regulated status, an abundance of educational materials, intuitive interface with guided tutorials, copy trading capabilities, and more. However, Plus500, Skilling, Binance, and Bitpanda ranked highly in our assessments across key criteria. Assess your priorities to determine the ideal Hungarian crypto provider aligned with your risk profile and goals as an investor.
For crypto investors in other countries, check out our recommendations for:
- Best Crypto Exchanges in Portugal
- Best Crypto Exchanges in New Zealand
- Best Crypto Exchanges in Indonesia
FAQs
How do I securely store cryptocurrency in Hungary?
Use regulated Hungarian crypto exchanges for trading while transferring holdings to cold storage hardware wallets for optimum security.
What are the main risks associated with crypto investing?
High volatility coupled with lack of investor safeguards makes crypto risky. Only invest discretionary capital and use trusted platforms.
Can I trade altcoins beyond Bitcoin in Hungary?
Yes, all major altcoins are available across recommended Hungary-based platforms like eToro, Skilling, and Binance.