Crypto is tightly regulated in Spain. Even the advertisers need to submit their campaigns ten days in advance to CNMV (Spanish security watchdog) if it’s targeting more than a 100k audience. The objective is to make sure the people understand the crypto investment risks, of which there are plenty. As a result of this and overall less exposure, Spain is home to just over 1.1 million crypto investors, accounting for 2.51% of its entire population. Still, there are numerous trading platforms to buy Bitcoin and Altcoins. These exchanges help you buy, sell, stake, lend, and borrow, making decentralized finance a reality. Let’s get started with the first.
Crypto.com
Crypto.com is one of the best places to start your crypto endeavor, especially if you plan to hold CRO, its native token. This uses the conventional maker-taker model for crypto trading. The fees are discounted based on your CRO stake. For instance, an investor without any CRO will pay a 0.4% fee. In contrast, one with 50 million CRO holdings wouldn’t pay a dime. In between, there are various trading levels that discount the fee according to your CRO stock. Crypto.com also has a self-custodial multi-crypto wallet. These wallets are arguably the safest and rely on the user’s capability to safely hold private keys. Crypto.com supports buying, selling, and earning and has its own crypto credit cards with numerous other schemes for the Spanish crypto enthusiast.
Binance
As of this writing, Binance is the largest crypto exchange by daily trading volume. Consequently, you can expect excellent service and access to many cryptocurrencies. Coming to the fees, you don’t pay anything for peer-to-peer (P2P) trading if you are paying in euros. And the fee is capped at a maximum of 0.1% for spot trading. And similar to Crypto.com, you pay a discounted fee if paying in their native token, Binance Coin (BNB). These charges also go down as one elevates in the ranks by trading more. In addition, Binance supports staking and lending, has crypto saving plans for stable earnings, its own crypto mining pool, auto-investing, and a lot more exciting features that make it perfect for buying Bitcoin in Spain.
Coinmama
Coinmama is a premium option with fewer cryptocurrencies in its kitty. They currently offer BTC, ETH, LTC, BCH, ETC, XTZ, ADA, etc. Like Binance, the transaction fee gets reduced for high-volume traders. The maximum fees for buying and selling transactions are 5% & 3.9%, respectively. Finally, Coinmama promises no hidden fee, high spending limits (up to 30,000 USD), and instant delivery for its users.
Coinbase
Coinbase is one of the more prominent names in the crypto exchange realm, currently ranked third by daily trading volume. They charge transaction fees on the higher side of the spectrum as 0.4% (maker) and 0.6% (taker). Besides the regular trading, they offer staking, borrowing, a Coinbase card, and a few more schemes to make the most out of crypto. Moreover, you can have their self-custodial wallet for top-notch security. Additionally, Coinbase assures storing of over 98% of funds in cold storage, devoid of internet access.
Bitpanda
Bitpanda is for the all-rounder investor trying luck in ETFs, stocks, precious metals, and crypto. Like some platforms, Bitpanda offers you its debit card to spend crypto easily and is supported by major payment gateways like GPay, Samsung Pay, Apple pay, etc. Coming back to crypto trading, Bitpanda levies 0.1% maker and 0.15% taker fees. This platform also permits crypto staking, no-limits swapping, and crypto savings plans, making it an interesting proposition among users.
Bitfinex
Bitfinex stands sixth among the crypto exchange platforms by 24 hours trading volume, as per CoinMarketCap. They have their native token, UNUS SED LEO, which you can hold for lesser transaction fees. However, the fee depends upon the conversion: crypto to crypto, to stablecoin, to fiat, etc. Still, you won’t be paying more than 0.1% maker and 0.2% taker. Notably, all discounts for holding the home token are adjusted in the taker fee. In addition to regular trading, the platform offers a Bitfinex borrow program, supports swapping, and offers staking rewards as high as 16% APY.
KuCoin
The 5th largest crypto exchange, KuCoin, has over 600 crypto coins up its shelves. Continuing the trend, the trading fees are subsidized for people paying in its homegrown token, KuCoin Token (KCS). However, the maximum you would be paying is a 0.1% maker-taker fee. In addition, the transaction fee is based on the last 30-day trading volume or KCS holdings. Besides this, KuCoin offers an earning program, crypto lending scheme, KuCoin mining pool & cloud mining contracts, crypto lottery with KuCoin Win, etc., making it a top contender for purchasing Bitcoin in Spain.
Kraken
Kraken is an excellent crypto trading platform with high liquidity making it the fourth largest crypto exchange, ahead of KuCoin. As of this writing, there were more than 160 crypto assets for taking. The fees are capped at 0.16% (maker) and 0.26% (taker) based on the monthly trading volume. These fees are discounted only as per the trading amount, as Kraken doesn’t have any native token. Kraken supports staking a good number of cryptocurrencies, with the APY as high as 23% in some cases. Ultimately, you can try Kraken if you’re a hard-core crypto trader asking for a simplistic user interface and plenty of coins to stake.
PrimeXBT
PrimeXBT gives you access to crypto, stock indices, forex, and over 100 assets with a single trading account. This platform comes with copy-trading to ‘copy’ the successful trader to make similar returns. That is particularly useful for the newcomers to rely on the veterans till they learn the craft. Moreover, you can allow others to follow your trades and earn commission from them. In addition to this, PrimeXBT supports staking to earn as much as 14% annual rewards. Besides, you can access the lucrative (and risky) Bitcoin leverage trading. The minimum fees are 0.05% and scale up to 0.65% based on the followers’ equity.
Changelly
Changelly is a minimalist platform for crypto trading, catering to both the one-time investors and heavy traders. In contrast to its simplicity, it gives you access to hundreds of cryptocurrencies. You can use its crypto exchange with a fixed or floating rate policy. Fixed-rate keeps the estimate as is for 30 seconds while the floating rates fluctuate based on the market. Changelly has a Pro program for the traders, which levies a maximum of 0.1% maker-taker fee and comes with advanced charting tools. And similar to other platforms, the fees get discounted based on the last 30-days trading volume.
Bit2Me
Bit2Me supports close to 130 cryptocurrencies and gives options to buy crypto with cash through its Tikebit initiative. This means buying vouchers in local retail stores that you can exchange for crypto on select exchange platforms. They have a Bit2me service, meant for the traders charging a maximum of 0.16% (maker) and 0.26% (taker) fee. And similar to other platforms in this list, you pay less for trading more in the last 30 days. Besides, they have their homegrown token B2M, which is valuable for their ‘earn’ program. Similar to staking, this lets you earn for holding crypto, and you get 2% extra for accepting rewards in B2M tokens. Finally, this is a decent platform backed by an experienced team and an excellent native multi-crypto wallet.
Conclusion
These were some of the trading platforms to buy Bitcoin in Spain. Although we have tried to mention the trading fee, the market is volatile, and so are the policies. Conclusively, check for the fee at the time of transacting. And as a general best practice, try to store big amounts of crypto in a self-custodial wallet, or better, in a hardware wallet. PS: Trading crypto is easy, but what’s difficult are the taxes. So why not ease the calculations with these crypto tax software.
