Best Crypto Exchanges in Bulgaria 2023

Cryptocurrencies are a growing phenomenon in Bulgaria, and many investors wish to diversify their portfolios by adding Bitcoin to them. The challenge that many investors face is finding reliable exchanges. We’ve done the research and shortlisted eight platforms that we deem to be the best crypto exchanges in Bulgaria.

It’s important that investors are knowledgeable about Bitcoin and analyze exchange features when investing. We’ve reviewed the fees, security and regulations of the top crypto exchanges in Bulgaria and detailed how to open an account and so much more. Let’s explore this guide in depth.

The Best Crypto Exchanges in Bulgaria for 2023

Our market research led us to discover that eToro is the best Bulgarian crypto exchange.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

The Top Bitcoin Exchanges in Bulgaria Reviewed

Bulgarian investors can choose between eight Bitcoin exchanges in Bulgaria. We reviewed all of them in detail, highlighting their benefits and aspects investors should note.

1. eToro – Overall Best Crypto Exchange in Bulgaria

Security is a major concern for investors, so eToro ensured clients that their assets are securely stored offline. To show clients it’s serious about upholding high ethical standards, eToro sought regulation by top financial bodies. The regulators watching over eToro are FCA, CySEC, ASIC, FINRA and the US SEC.

Whether investors are starting out or are experienced, eToro’s platform is suitable. It’s convenient enough to place trades by following simple instructions. However, expert traders will benefit from the platform’s advanced features and use tools such as Fibonacci, MACD and several other indicators to position themselves well. Investors can try the platform for free as a demo account is available. Mobile traders will find the eToro app to be user-friendly.

Investors have several options to fund their accounts. Some of the payment methods are bank wire, debit/credit card Skrill, Paypal, Neteller, Yandex and Webmoney. Depositing is free if funded in USD. Using other currencies will incur a conversion fee of 0.5%. The minimum investors can deposit is $50.

eToro charges $5 for withdrawals. Trading cryptos incurs a 1% fee added onto the market spread. Another fee that investors should note is the $10 monthly charge if traders are inactive after 12 months.

eToro offers two great features for investors and traders. Investors can invest in a Smart Portfolio to diversify their holdings with 70 cryptocurrencies. Fund managers ensure investors get the best returns by periodically rebalancing the portfolio. A management fee isn’t applicable, and investors need to fund their accounts with at least $500.

Beginner traders will love CopyTrading. It enables them to interact with professional traders and copy their trades. Because of all these great features, we saw that eToro is the best Bitcoin exchange in Bulgaria.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Crypto.com – Popular Exchange with a User-friendly App

One of the things that make Crypto.com feature in the best Bulgarian crypto exchanges list is its user-friendly platform. It’s suitable for beginners to jump onboard and place trades conveniently, yet pro traders can improve their technical analysis with advanced tools. That’s one of the reasons more than 50 million traders use this platform to invest in 250 cryptocurrencies. Crypto.com app is available in iOS and Android.

Getting started with Crypto.com is even simpler than using its trading platform. All investors need to do is deposit at least 100 USDC. The platform provides several deposit options such as bank wire, debit/credit cards and ACH. Investors can buy cryptos with a card for the first month for free. After the first month, investors incur a fee of 2.99%. The platform enables free crypto deposits but charges for withdrawals, varying per coin. Trading cryptos incurs a 0.4% fee.

The great thing about Crypto.com is that it offers staking. That enables investors to purchase coins and lock them in for a specific period. Staking on Crypto.com provides investors an opportunity to earn up to 14.5% per annum. Investors can also opt for staking CRO, the platform’s native coin. But that annual interest is only 4%. A better option might be staking stablecoins, earning investors up to 10% annually.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Bitstamp – Crypto Exchange with Low Fees

We also found that Bitstamp is one of the best crypto exchanges in Bulgaria. Beginner and advanced traders have been using this platform since 2011 to trade more than 73 cryptocurrencies. The great feature that Bitstamp offers that not many platforms do is 24/7 support. When traders can’t open positions, the last thing they care about is time zones to get help. It’s good to see that’s not an issue with Bitstamp.

Bulgarian investors can fund accounts with SEPA and ACH for free. The minimum to fund accounts is €10, and international wire deposits incur a fee of 0.05%. Bitstamp enables investors to buy cryptos using cards, but a 5% transaction fee applies. To withdraw money, investors can use SEPA and pay €3, and a wire withdrawal costs 0.1%. Investors with a monthly trading volume of $10,000 are charged 0.5% fees, but the fees decrease to 0.25% once that volume is exceeded.

Bitstamp also allows investors to stake coins. Only two coins are available for staking—Ethereum and Algorand. Staking Ethereum can earn investors up to 4.39% interest per annum, and Algorand provides up to 5% annual interest.

A key aspect of any Bulgarian Bitcoin exchange is regulations. Bitstamp wants clients to feel that it’s a trusted exchange, so it’s regulated by Luxembourg Financial Regulator, the Commission de Surveillance du Secteur Financier.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Coinbase – Globally Popular Exchange

Considering Coinbase is in 100 countries and has more than 100 million users, it’s easy to see why it’s one of the best Bulgarian crypto exchanges. A key reason for its large client base is that Coinbase provides two platforms: standard and Coinbase Pro. Beginners will find the standard platform to be convenient, and experts can use Coinbase Pro for free to optimize their trading strategies.

To start trading on Coinbase, investors need to deposit at least $25 and can do so via bank wires, debit/credit cards, SEPA and Ideal. A SEPA deposit costs only €0.15, but ACH deposit are free. Coinbase charges $10 for USD wires. Withdrawals are possible via Instant Card Cashout, Paypal and SEPA, which incurs a €0.15 fee. Traders can also buy crypto with Apple Pay, and Coinbase splits trading fees between takers and makers. Takers pay 0.6%, and a maker is charged 0.4%.

Investors can also invest in non-fungible tokens (NFTs) on this platform. Coinbase has waived the NFT transaction fees for a limited period. Also, investors can earn staking rewards up to 5.75% per annum on Coinbase.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

5. Binance – Bitcoin Exchange with 600 Cryptocurrencies

It’s easy to see why Binance is one of the best Bulgarian crypto exchanges. It offers more than 600 cryptocurrencies and the highest trading volume in the world. A key reason for its massive trading volume is Binance’s platform, which caters to beginners and advanced traders.

Another reason for the platform’s popularity is its generous returns. More than 100 stake coins are available, and some offer triple-digit returns after a 90-day lock-in period. Staking investors can opt for flexible periods, but that option earns significantly less interest.

One thing that makes this platform convenient is that it enables euro deposits, so traders don’t have to worry about conversions. Funding account is possible via SEPA, Etena, P2P Express and AdvCash. All of those funding methods are free except SEPA, which incurs a €1 fee. Investors can also opt for card deposits with a 1.8% fee. That fee is significantly lower than what most exchanges charge. The best part about Binance is the trading fee of 0.1%.

A key aspect that Binance has addressed recently is being regulated. French authorities have announced Binance as a regulated digital asset provider, but that applies only in France. To prove that it cares about investors’ best interests, Binance needs to seek regulation from every national authority where it operates.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

6. BitPanda – Crypto Exchange Offering Indices

We found BitPanda to be one of the best cryptocurrency exchanges. More than 3.5 million European investors use it because it’s designed for that market. One of the reasons for its popularity is that BitPanda offers crypto indices. Anyone would be hard-pressed to find an exchange offering crypto indices, but this platform offers three: BitPanda Crypto Index 5, 10 and 25.

Another reason that BitStamp is one of the best crypto exchanges in Bulgaria is its platform. The pro version provides cheaper fees for active traders than the ones offered on the standard platform. Takers are charged only 0.15%, makers pay 0.10% trading fees. The platform enables several funding options such as cards, SEPA, Skrill, Neteller and Sofort. The minimum deposit amount is €25. Investors can choose from 60 cryptocurrencies and start with as little as €1.

BitPanda is fully compliant with AML5, thereby providing secure offline asset storage. The platform’s security is further evident in being regulated by MiFID II and PSD2.

7. Gemini – Regulated Exchange with 24/7 Support

One of the things that make Gemini the best Bitcoin exchange in Bulgaria is that it offers 24/7 support. That is crucial for traders wanting prompt responses when they have queries about the platform to execute trades. The other thing is the platforms. Gemini has developed platforms for beginners and experts.

Investors can buy 60 cryptocurrencies and even invest in NFTs. What makes Gemini unique is its fee structure. It determines them by several variables such as the device used for transactions. Mobile users incur a $0.99 trading fee and a 0.5% convenience fee. Active traders who are takers will pay 0.4%, and makers pay 0.2%. Investors can deposit funds via bank wires, cards and ACH.

We like that Gemini takes regulations seriously. It obtained a license as a fiduciary under New York Banking Law, and it’s also licensed by the State of New York to the custody of digital assets. Furthermore, the platform provides $200 million in cold storage insurance for certain crypto losses that may occur on the platform.

Gemini provides a platform for fund managers called Gemini Fun Solutions. It’s designed for them to execute trades, provide crypto custody and for clearing.

8. XChange.bg – Bulgarian Exchange Offering a Bonus Program

Xchange.bg is a Bulgarian crypto exchange offering nine cryptocurrencies. It’s specifically designed for Bulgarian investors and provides staking coins. Investors can earn up to 8% and choose flexible terms.

Opening an account with Xchange.bg requires investors to deposit at least 100 BGN. The payment methods available are bank transfer, EasyPay, Cashterminal, Phyre, A1 Wallet, Vivacom and Settle. Using EasyPay incurs a 3.6% fee, and Cashterminal fees are 1%. Xchange doesn’t charge for bank transfers, but an investor’s bank may charge 1 BGN. Trading fees vary between 2% and 3% and are included in the bid/spread quote.

XChange enables investors to earn from its bonus program. After trading, investors can recommend the platform to friends to receive cashback and referral bonuses.

The Best Bulgaria Crypto Exchanges Compared

We wanted to compare the best crypto exchanges in Bulgaria to see how they fare against each other so that investors could easily decide the best one for them.

How to Choose the Best Bulgarian Cryptocurrency Exchange

When deciding to use the best Bitcoin exchange in Bulgaria, investors need to consider certain factors. By analyzing exchanges, investors increase their chances of investing with a secure platform that offers affordable fees.

Regulation

Using one of the best Bulgarian crypto exchanges means safeguarding funds. The best way to have a certain level of certainty that funds are safe is by investing with a regulated exchange. It gives investors peace of mind to know that a financial body is watching over the exchange they use. Being regulated means that exchanges are apprehensive about managing investor funds as they see fit because they will face consequences.

A regulated exchange also shows its clients that it cares about their interests and wants to act in a way that ensures the best possible investing experience.

Tradable Cryptos

Besides Bitcoin, investors enjoy altcoins such as Ethereum, Bitcoin Cash, Doge and many others. Finding some altcoins can be difficult because exchanges limit their offerings. It’s much easier for investors to opt for an exchange offering a large coin selection.

A key reason that Binance is one of the biggest crypto exchanges in the world is that it offers 600 coins. It’s vital that exchanges also offer broad cryptocurrency trading pairs. Many traders prefer that option because it allows them to enjoy lower fees than fiat/crypto pairs.

Sign up Offers

It’s common practice for some exchanges to entice investors to join their platforms by offering sign-up bonuses. An example of sign-up bonuses may be a funded account to begin trading or a discount on fees for a specific period. This factor shouldn’t be a make or break, but it is nice when an exchange offers such incentives to potential clients.

Beginner investors should note that it’s not common for Bitcoin exchanges in Bulgaria to offer sign-up offers.

Fees 

The fees an exchange charges are of paramount importance to investors. This is as important as the security an exchange offers. Exorbitant fees impede investors from making significant profits. When fees are too high, they decrease profits and make losses even bigger.

Some exchanges charge for deposits, withdrawals and trading. If that is the case, investors should ensure that the rate is low. Also, investors need to know all the fees an exchange charges to ensure they aren’t caught off-guard later.

Tools & Features

To be considered one of the best crypto exchanges in Bulgaria, a platform needs to be tailored to beginners and pro traders. It’s sometimes challenging for exchanges to develop a platform convenient for both, so certain exchanges design two platforms.

The standard platform should guide beginners on how to open a trade, and a pro version needs to contain advanced features enabling them to combine several strategies and indicators. It’s not good enough to design just a basic platform as some beginner traders become pros, so they shouldn’t need to find another platform that’s suitable for their skill level.

Payment Methods

Exchanges should make funding accounts simple for investors. One of the ways they do that is by offering several payment options. Some traders have only one way of funding an account, so it would be nice to have an exchange offer it.

On the other hand, some traders prefer several options so they can choose the cheapest one. The more payment options available, the better.

Customer service

When traders get stuck, they require assistance on the spot. To provide a great service, some of the best Bitcoin exchanges in Bulgaria offer 24/7 support. Some offer it via chat, and others respond promptly via email. Before an investor signs up with an exchange, it’s important to test their support.

How to Use a Bulgarian Crypto Exchange

After comparing all the platforms, we found eToro to be the best cryptocurrency exchange in Bulgaria. Let’s go through the process of signing up, step by step.

Step 1: Sign Up with eToro

Visit eToro.com and sign up for an account. Complete the registration form.

Step 2: Verify Account

Users will need to verify their email addresses and mobile numbers. eToro is regulated, so it also prompts users to upload government-issued IDs or passports.

Step 3: Deposit Funds

Before trading, users need to fund their accounts. eToro requires a minimum deposit of $50. Enter the amount to deposit, the currency and preferred payment method.

Step 4: Select a Cryptocurrency

As an example, trading Bitcoin requires users to enter ‘BTC’ in the search function. Click on the symbol when it pops up.

Step 5: Buy Crypto

Enter the amount of crypto to buy and then click ‘Open Trade’.

Are Crypto Exchanges Legal in Bulgaria?

Bulgarian investors can legally trade and hold Bitcoin and other cryptocurrencies in the country. Bulgaria doesn’t have a legal definition of cryptocurrencies, and they are not defined as financial instruments or electronic money. Because of that, it’s not necessary to possess a license to trade cryptocurrencies in Bulgaria.

Cryptocurrencies are legal in the European Union, which aims to implement cryptocurrency regulation by 2024. Also, the Financial Supervision Commission (FSC) in Bulgaria hasn’t released legal guidance about cryptocurrencies.

Crypto Tax in Bulgaria

The Bulgarian authorities regard cryptocurrencies to be the same as income from the sale of financial assets. So cryptos are taxed in Bulgaria. If investors want to determine their crypto taxable income, they should add up the profits realized during a particular financial year and subtract the losses of that period.

Then, a tax rate of 10% is applied to determine the taxable amount.

Conclusion

We’ve reviewed the best Bulgarian crypto exchanges in detail to determine their fees, regulations and features. It’s important that investors compare all those factors and determine the exchange most suitable for their needs.

We found that eToro is the best exchange because it offers affordable fees, many coins, numerous payment options and great features. Beginner traders can copy the trades of advanced traders, and investors can buy Bitcoin and 70 other cryptocurrencies to diversify their portfolio by investing in a Smart Portfolio.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

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