Best Crypto Exchange in Austria 2023

It’s never been less complicated for Austrian traders to buy and sell digital currencies online. However, finding a trustworthy cryptocurrency exchange can be one of the biggest hurdles for traders.

In this beginner’s guide, we help clear the mist by reviewing the best crypto exchanges in Austria for 2023.

Traders can find a full review of the above-mentioned crypto exchanges next.

The Top Bitcoin Exchanges in Austria Reviewed 

When researching the top crypto exchanges in Austria, we focus on a list of key metrics. This includes available digital assets, regulation, trading fees, user-friendliness, and features.

In order to choose the best crypto exchange in Austria, consider one of the providers reviewed below.

1. eToro – Overall Best Crypto Exchange in Austria

eToro stands out as the best crypto exchange in Austria for how long it’s been operating and how well-regulated it is. The platform has been in operation since 2007. eToro serves over 25 million traders and investors around the world and is regulated by numerous top-tier bodies.

This includes the FCA, CySEC, ASIC, and the SEC. The platform is also registered with a number of other entities to provide crypto services. Austrian traders can buy and sell over 70 cryptocurrencies with ease, as the platform is user-friendly and simple to navigate. In terms of trading fees, there is a simple fixed charge of 1% to buy and sell cryptocurrencies.

eToro also supports fractional trading, which allows people to allocate just $10 (around €9.50) to any asset if they wish. In other words, if a trader wishes to add a token such as Bitcoin to their portfolio, they can purchase just a fraction, instead of having to spend thousands of euros.

Other supported assets include ETFs, commodities, forex, stocks, and indices. The minimum deposit is $50, which is around €48. There are multiple payment methods to choose from when making a deposit. This includes Klarna/Sofort, Trustly, Rapid Transfer, PayPal, Neteller, PayPal, and Skrill. eToro also accepts credit/debit cards.

The platform quotes all listed crypto assets in US dollars, so EUR deposits will be converted to USD. This attracts a small charge of 0.5%. There are some useful tools and features which can shorten the learning curve for Austrian traders at eToro.

Notably, Smart Portfolios, of which there are 10 focused entirely on cryptocurrencies. Smart Portfolios feature a collection of assets that are put together and managed by the broker. This allows people to add multiple crypto assets to a portfolio with a single investment.

Traders can choose a basket of assets they like and add a collection of cryptocurrencies to their portfolio by investing $500 or more (around €475). Those who have an interest in passive trading could also consider Copy Trading.

In this case, it’s possible to allocate $200 (around €190) to a Copy Trading candidate and subsequently mirror the trades of the experienced investor. Each time a buy or sell order is placed, this is copied across in proportion to the amount initially invested. Finally, eToro offers one of the best crypto apps in Austria – which is compatible with both iOS and Android.

Cryptoassets are a highly volatile unregulated investment product.

2. Crypto.com – Secure Crypto Exchange With Savings Accounts

Crypto.com is one of the best Austria crypto exchanges to offer digital asset savings accounts. Austrian traders can access over 250 cryptocurrencies here. This covers large-cap offerings like Bitcoin, meme tokens like Shiba Inu and Dogecoin, and also lesser-known projects.

The platform offers interest on stablecoins such as USDC, DAI, and Tether. Interest is also offered on non-stablecoins like Bitcoin and Ethereum. The yield on offer via Crypto Earn is up to 14.5% APY, although terms and conditions apply in order to get this high rate.

For example, a specific number of CRO tokens (the platform’s native cryptocurrency) will need to be staked within a certain timeframe. The fee to buy and sell cryptocurrencies is up to 0.4%, which is competitive. The minimum deposit is $20 (around €19) and traders can fund their Crypto.com account via SEPA at no charge.

Those wishing to make a deposit via a debit card will be required to pay a 2.99% fee. The Crypto.com Visa card allows people to receive up to 5% back on purchases, and up to 8% on staked CRO (this depends on the card chosen). Moreover, the platform offers a rebate in its native currency to qualifying traders for paying fees with CRO.

Crypto.com also has its own NFT marketplace where Austrian traders can purchase a range of unique digital assets with no commission payable. As we talk about later, cryptocurrencies are taxed in Austria.

This platform has Austrian traders covered. Crypto.com allows traders to generate a complete tax report in a few clicks. The service is free and supports more than 30 wallets and exchanges. This is a convenient way for traders to calculate crypto taxes without a third party.

Cryptoassets are a highly volatile unregulated investment product.

3. Bitstamp – Crypto Exchange With Advanced Trading Tools

Bitstamp is another top crypto exchange that Austria residents are accepted at. Its TradeView platform provides traders with real-time market insights. There are also numerous order types and a range of analytical tools.

The fee to trade digital currency pairs is between 0% and 0.5%. The fee payable depends on the trading volume generated within 30 days. For example, those trading less than $10,000 within 30 days will pay 0.50% to trade. Anyone with a trading volume between $10,000 and $20,000 will be charged 0.25%.

Those trading $20 billion or more on the platform within 30 days are not charged. As such, it’s fair to say that most people will pay a fee of 0.50% to trade at Bitstamp.

There are over 70 assets at Bitstamp. Traders can use Bitstamp Earn to receive staking rewards on their holdings or new purchases. At the time of writing, this is limited to Algorland and Ethereum 2.0. However, the platform states that more will be added later.

People can buy crypto with a credit card in Austria, however, this attracts a charge of 5%. Moreover, the platform states additional fees may be charged by the provider. SEPA deposits are free of charge, but withdrawals command a €3 fee. The minimum trade amount is $10 at Bitstamp.

Cryptoassets are a highly volatile unregulated investment product.

4. Binance – Popular Crypto Exchange for Low-Cost Trading

Binance is one of the biggest crypto exchanges globally. On this platform, Austrian traders can buy and sell more than 600 cryptocurrencies with little cost in terms of fees.  When making a deposit, traders can choose between a credit/debit card, Advcash, and SEPA.

Notably, Visa and Mastercard command a fee of 1.8%. The commission charged on crypto trades is up to 0.10% which is super competitive. This platform offers a discount on trading fees to those who buy BNB, Binance’s native cryptocurrency. Traders who buy BNB tokens can opt to pay trading fees with BNB for a 25% discount.

The platform also reduces fees for people who trade in high volumes. High-volume traders should check the fee table for more information. Binance also has its own Visa card which offers up to 8% cashback on purchases.

The Binance card can be used to make purchases in over 60 million locations wherever Visa is accepted. The card can now be linked to Samsung and Google Pay. There are no fees on transactions made in euros, however, traders are advised to check for third-party charges.

Binance also has a marketplace for NFTs and mystery boxes. This allows Austrian traders to buy and sell digital collectibles and art, as well as in-game assets. The Binance app makes it easy for people in Austria to buy and sell crypto on the move.

Cryptoassets are a highly volatile unregulated investment product.

5. LocalBitcoins – P2P Bitcoin Exchange With Over 60 Accepted Payment Methods

LocalBitcoins is one of the best Bitcoin exchanges in Austria for P2P trading. As the name suggests, the platform allows people to buy Bitcoin directly from other sellers. Traders can filter the results down by country or territory, amongst other things.

This allows people to buy Bitcoin from local traders and also create advertisements to sell their BTC to others. Once the filter is applied, Austrian traders can view a list of advertisements and choose the best deal for them.

Each buy or sell advertisement will stipulate a location, price equation or margin, accepted payment type, currency, and the minimum/maximum transaction limit. The platform accepts over 60 payment types. Sellers can accept anything from PayPal, Advcash, and Skrill, to wire transfers and SEPA.

It is up to each individual seller. However, as we touched on, the buyer is able to filter the results so could choose to only view advertisements accepting SEPA, for instance.

The LocalBitcoins wallet is on the main dashboard so traders can access it on any device with a web browser. Traders can send Bitcoin to someone else with a LocalBitcoins wallet for free. Any transfers made to external wallets will attract a network transaction fee.

A 1% fee is charged for every completed trade after creating an advertisement. The amount a trader needs to deposit will depend on the advertisement they choose. However, LocalBitcoins states that this can be no lower than €5 in any case.

6. Coinfinity – Austria-Based Exchange With Secure Cold Storage Card Wallet

This Austrian Bitcoin exchange only offers BTC tokens. This platform is registered with the Austrian Financial Market Authority (FMA). The fee to trade Bitcoin at Coinfinity is 1.5%. To combat some of the risks of hacking, Coinfinity’s Card Wallet offers traders a tamper-proof storage solution.

This is delivered to the home address of the trader and features a code that is unique. The manufacturer of the card has no record of the code. This card does not enable traders to buy and sell cryptocurrencies but instead offers a secure way to hold Bitcoin offline.

Another option is to link Coinfinity to a Bitcoin wallet. Deposit options here include bank transfer, both instant and standard, and also SEPA. Traders may buy Bitcoin via a credit card, but only at the Bitcoinbon shop.

Austrian traders can also buy Bitcoin via one of Coinfinity’s ATMs in the country. Austrian traders local to Graz can also go to the ATM in the office and purchase Bitcoin with cash.

7. Bitpanda – Austrian Crypto Trading Platform With Multiple Markets

Bitpanda is one of the best Austria crypto exchanges for those looking to diversify later. This is because traders can also access stocks, ETFs, crypto indices, and precious metals.

The minimum stake is €1, as Bitpanda supports fractional trading. At the time of writing, there are 96 cryptocurrencies available to buy, sell and swap. Verified customers can fund their euro wallet via EPS, Sofort, Neteller, Skrill SEPA, or credit/debit cards.

The platform states that SEPA is free of charge and instant. The Bitpanda credit card offers traders cash back. BEST is the platform’s ecosystem token which runs on the Ethereum blockchain.

Bitpanda has a rewards program that allows Austrian traders to earn interest on every BEST transaction. The more BEST tokens an investor holds, the higher the reward offered. Furthermore, depending on the BEST VIP level, traders can get up to 12.5% staking rewards.

Finally, Bitpanda has an optional savings plan. This entails setting up a recurring investment to build a portfolio passively. The automatic buy orders can be set up using SEPA or a credit card.

The Best Austria Crypto Exchanges Compared

How to Choose the Best Austria Cryptocurrency Exchange for You

There are things that traders can look out for when choosing the best Austrian crypto exchange.

As such, below we offer a list of the most important considerations to make before selecting a provider.

Regulation

All the best Austria crypto exchanges are regulated. Whilst crypto exchanges are not supervised by the FMA, choosing a regulated platform should give traders a better experience.

This is because regulated trading platforms stick to a high set of standards and protocols in order to keep their license.

eToro is the best Austrian crypto exchange for safety. Traders do not need to secure a wallet as most tokens are kept safe in cold storage, and the platform complies with multiple regulatory bodies. This includes ASIC, CySEC, FCA, and the SEC.

Tradable Cryptos 

A key thing to look out for when researching the best Austria crypto exchanges is the number of tradable assets available. This is because there aren’t many crypto traders with just one asset in their portfolio.

• By choosing an Austrian crypto exchange with plenty of assets, it’s easy for traders to create a diverse portfolio later on.
• Selecting a platform that facilitates fractional trading is also a bonus.

For instance, at eToro, traders can buy any cryptocurrency in fractions by allocating $10 or more.

The broker lists more than 70 digital currencies, so Austrian traders won’t be short of options.

Sign up Offers

The best cryptocurrency exchanges in Austria run sign-up offers and other promotions. As an example, an existing eToro client can recommend a friend, and when they deposit $100 or more, both can claim $30.

Crypto.com also offers rewards – this time in CRO tokens. Traders who sign up using a specific code may be eligible for $50 worth of CRO.

Fees

No two Austrian Bitcoin exchanges are exactly the same. As such, it’s crucial that traders check the fee structure of any exchange prior to creating an account and making a deposit.

Some common fees found at an Austrian Bitcoin exchange include:

• Deposit Fees – A fee charged when funding a trading account. This can also differ between payment types. For instance, at Crypto.com, traders pay 2.99% on each credit/debit card deposit. At eToro, EUR deposits command a small 0.5% fee.
• Commissions – Most of the top crypto exchanges in Austria charge commissions to traders when they place a buy or a sell order. At Coinfinity, this is 1.5%. eToro charges a flat 1% fee.
• Spreads – Another commonly charged fee is the spread. For those unaware, this is the difference between the buy and sell price of the crypto asset in question. The tighter the spread, the less the trader will pay.

It’s clear to see why eToro was revealed as the best crypto exchange in Austria. Fees are simple, low, and transparent and the platform offers a tight spread.

Tools & Features

The top crypto exchanges in Austria offer investment tools and features.

A good example of this is the aforementioned platform eToro, which we found to be the overall best Austrian crypto exchange. Here, people can copy the trades of an experienced investor to shorten the learning curve.

Other features to look out for when searching for the best cryptocurrency exchanges are interactive price charts and the option of various order types.

For beginners, educational content such as guides and video tutorials are usually helpful as well.

Payment Methods

Traders searching for the best Austria crypto exchanges might already have a payment method in mind. In this case, it’s especially important to see what the exchange supports.

For instance, eToro supports a wide variety of payment types. To recap, this includes credit and debit cards. Other options include Sofort (formally called Klarna), Trustly, Rapid Transfer, Skrill, PayPal, and Neteller.

Customer Service

Finding the best cryptocurrency exchange in Austria will also require traders to explore the customer service department. For example, it is important to make sure there are multiple avenues when customer support is needed.

In this respect, live chat is often the best option. eToro offers 24/7 support.

How to Use an Austrian Crypto Exchange 

As eToro came out as the overall best crypto exchange in Austria in our earlier reviews, we will now detail how to buy cryptocurrencies there.

The platform is regulated, offers low fees to Austrian traders, and there are thousands of assets available.

Step 1: Open a Free Account at eToro

It’s free of charge for Austrian traders to create an account on eToro.com. Go to the platform and look for ‘Join Now’. Upon clicking this, a registration form with appear.

This needs to be completed in full. Information required by the broker will include a username and password. A contact email address is also needed to confirm the account.

eToro will also ask for a date of birth, address, and nationality. Additionally, traders will be asked a few simple questions regarding their investment experience.

Step 2: Upload ID

Next, eToro will require traders to complete the KYC process.

This is a standard practice among Austrian Bitcoin exchanges. The process is easy and there are many options.

• When prompted, attach an image of a passport, driver’s license, or a government-issued Austrian ID with a photo
• Proof of address is also required. Choose between a recently issued bank statement or a tax or utility bill

Austrian traders can find a full list of accepted KYC documents on the eToro platform.

Step 3: Deposit Funds

Deposit $50 or more to get started. The fee is just 0.5% on EUR deposits.

Payment options are inclusive of Rapid Transfer, credit/debit cards, Trustly, Klarna/Sofort, PayPal, Neteller, and Skrill.

The amount deposited will be added to the available equity balance once confirmed.

Step 4: Find Crypto 

Type the desired token name into the search bar.

Here, we are looking for Dogecoin. However, eToro lists more than 70 cryptocurrencies.

As is clear from the above image, a list of relevant markets will show. Click ‘Trade’ beside the correct crypto asset to place an order.

Step 5: Buy Crypto 

Austrian traders can buy crypto with an order value of just $10 or more. If the desired token is valued higher (such as Bitcoin) then this will be a fractional investment.

Enter $10 or more and click ‘Open Trade’ to confirm the purchase.

The tokens will be added to the list of investments within the ‘Portfolio’ section of the platform for easy access.

Are Crypto Exchanges Legal in Austria?

Crypto exchanges are legal in Austria. They are not governed by a specific body but the FMA requires all platforms to adhere to anti-money laundering laws, report obligations, and comply with customer due diligence and KYC rules.

The easiest way for traders to ensure they are dealing with a legitimate and trustworthy platform is to opt for an Austrian Bitcoin exchange that holds one or more regulatory licenses.

As we mentioned, eToro is regulated by multiple bodies and maintains a professional standard of care for its 25+ million clients.

Crypto Tax in Austria

Prior to March 2022, there was no specific tax bracket for cryptocurrencies. It was classed under the umbrella of progressive income tax.

The crypto tax reform in Austria has changed all that.

Here’s some more information on the taxation of crypto assets in Austria:

• All cryptocurrency trades are taxed at the same 27.5 % rate as stock transactions
• Long-term gains will be taxed as a result of the reform, with the exception of so-called legacy holdings
• In this case, crypto that was bought before February 28, 2021, is still subject to the prior tax rules
• 27.5% tax is payable when cryptocurrencies are mined, sold, or spent
• Interest earned from crypto assets are also subject to this tax rate. Staking rewards are also taxed at 27.5%
• Importantly, crypto-to-crypto trades are not taxed according to the latest reform
• Traders who obtain cryptocurrency by mining will need to use the fair market value in euros on the day it was purchased
• People who traded it or spent the tokens, rather than selling, will need to deduct the cost basis from the fair market value of their cryptocurrency in euros
• Again, this must be based on the day the person traded or used it

Both under the old and new tax laws, there are some savings available for Austrian cryptocurrency investors:

• Speculative Trading Allowance – If the annual profit from cryptocurrency gains was less than €440, the investor won’t pay taxes on it
• Long-Term Gains – If investors have held onto a cryptocurrency for more than a year and it was purchased before February 28, 2021, they are not subject to taxes when sold

As we touched on in our review of the best crypto exchanges in Austria, Crypto.com offers a handy app that is free of charge and lets investors prepare their taxes.

Conclusion

It’s more simple than ever to trade crypto assets online. The tricky part for most traders is deciding on the right platform. This guide reviewed the best crypto exchanges in Austria for low fees, safety, and easy platform navigation.

eToro serves millions of clients globally. The platform is heavily regulated and offers a clear and transparent trading fee of just 1% on crypto assets.

Austrian traders can choose between numerous different payment types. It’s also possible to invest passively via Copy Trading and Smart Portfolios.

Cryptoassets are a highly volatile unregulated investment product.

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