Best Crypto Exchange in Denmark 2023

Looking to track down the best crypto exchange in Denmark? With crypto prices the lowest they have been since last year, smart investors are wondering whether now is the right time to buy the dip.

Below we review 8 top crypto vendors that investors in Denmark can access totally legally. We focus on what regulation the user can expect and delve into the fee structures available. We further take an overview of what features make the best crypto exchanges in Denmark stand out.

The Top Bitcoin Exchanges in Denmark Reviewed

The over $1 trillion crypto sector is a global enterprise. Investors can buy crypto from most countries in the world, including Denmark. And many of the best cryptocurrency exchanges, offering high levels of regulation and low fees, are accessible globally.

As a result, the best exchanges for Danish investors to use — the best Denmark crypto exchanges, in other words — are not necessarily based in Denmark at all. But the services of top platforms like eToro, for example, are accessible there. So, for investor convenience, we refer to these exchanges below as Danish exchanges.

1: eToro – Best Cryptocurrency Exchange in Denmark

Based in Israel, eToro serves 25m+ investors in over 100 countries including Denmark. As BTC’s price continues on a downward trajectory, many investors are looking to buy Bitcoin in Denmark.

eToro offers 70+ crypto, including key blockchain coins, DeFi coins, multiverse coins and meme coins. Smart investors looking to balance their crypto investments with some lower risk assets have an impressive choice of 3000+ stocks, 250+ ETFs, commodities and indices to choose from too.

A range of deposit methods is provided for Danish investors: credit card, PayPal, Neteller, Skrill, Trustly online banking and bank transfer. No deposit fee is charged, but a currency conversion applies. (The only drawback here is that Danish krone is not accepted, but Euros are.) For Danish customers, eToro also provides an automated tax return service.

eToro stands out in two particular areas: regulation, and Social Trading.

eToro Regulation

Regulation is important in the crypto sector. Investors can trust that a regulated broker is doing business by the book. eToro is regulated by the FCA in the UK, the SEC in the USA, ASIC in Australia, and CySEC in Cyprus. This is considerably more regulatory coverage than other crypto platforms.

eToro Social Trading

Social Trading is eToro’s way of looking after the beginner trader. With CopyTrader, investors may copy the trades of other investors for free (and pick up some trading skills on the way). eToro’s Smart Portfolios likewise allow the newbie to access some crypto expertise by buying into strategic portfolios that each take a particular angle on the crypto sector.

Crypto assets are a highly volatile unregulated investment product.

2: Crypto.com — One of the Best Denmark Crypto Exchanges for DeFi

Singapore-based Crypto.com boasts 50m+ users worldwide. Investors looking for the best crypto exchange in Denmark will be interested to hear that Crypto.com accepts DKK as payment, and also (like eToro) offers automatic tax returns for Danish investors.

Crypto.com Exchange

Here 200+ crypto pairs can be traded using powerful trading tools, as well as futures and perpetual contracts. Up to 10x leverage is on offer. Newly-listed tokens are often up for sale at 50% off. Automatic dollar-cost averaging is available too. Fiat deposit is not available though: only crypto deposit.

Crypto.com App

The Crypto.com app offers a different emphasis than the exchange. The app offers 250+ crypto to buy instantly and a range of staking options. From a range of 40+ stakeable crypto, investors can get rates of up to 14.5% by staking stablecoins for example. Fiat deposit via SEPA is available (EUR).

Crypto.com DeFi Wallet

Investors do not need to have a Crypto.com account to sign up for the Crypto.com DeFi wallet. But it makes sense to link it up to the Crypto.com app. Powerful staking options are available. And, when sending crypto, investors can set network fees to suit.

• The Crypto.com app has gained an average rating of 3.8/5 on Google Play and 4.2/5 on the App Store.
• The Crypto.com DeFi Wallet scores 4.1/5 on Google Play and 4.2/5 on the App Store.

Cryptoassets are a highly volatile unregulated investment product. 

3: Bitstamp — Best Bitcoin Exchange in Denmark for Trading Minimums

Established in 2011, and registered in London, Luxembourg and the US, Bitstamp has a European focus that may appeal to Danish investors.

Unlike top broker eToro, Bitstamp offers accounts run in 3 currencies: EUR, GBP and USD. DKK can be deposited with Bitstamp by international bank transfer. A currency conversion fee will apply, as well as a deposit charge of 0.05% (minimum fee: €7.5).

70+ crypto are available for trade, including top blockchain coins like Bitcoin (BTC) and Ethereum (ETH), DeFi coins like Curve (CRV), gaming tokens like Axie Infinity (AXS), meme coins and stablecoins. Crypto can be bought directly via credit card, but a 5% fee applies.

Bitstamp applies a trading fee to all crypto transactions based on the investor’s 30-day trading volume. A maximum fee of 0.5% applies. When it comes to volume, the minimum trade is €10 for most trading pairs, and a minimum of 0.0002 BTC (roughly €6) applies to Bitcoin pairs. This low Bitcoin minimum arguably makes Bitstamp, in terms of dedicated Bitcoin service, the best Bitcoin exchange in Denmark. Unlike eToro and Crypto.com, crypto can be deposited directly with Bitstamp to fund trades on the exchange.

Cryptoassets are a highly volatile unregulated investment product. 

4: Coinbase — One of the Best Denmark Crypto Exchanges For Beginners

Headquartered in San Francisco, California, Coinbase is one of the biggest crypto exchanges. With 98m+ customers, Coinbase handles over $1bn of crypto business every day. Institutional investors traded over $1trn of crypto with Coinbase in 2021, which is some indication of its high reputation. (Investors can trade Coinbase stock with top broker eToro under ticker label COIN.)

Coinbase has a great reputation for security in particular. It was one of the first exchanges to store client funds in ‘cold’ storage: ie. in USB sticks locked up in safes away from the internet altogether. Cold storage is generally now standard amongst the best Denmark crypto exchanges.

Support for crypto newbies is also a key Coinbase strength. Users can complete online learning modules to earn crypto rewards. Rewards of up to 5% APY can also be earnt via staking one of six crypto with Coinbase (ETH, ALGO, ATOM, XTZ, DAI, ADA).

When it comes to minimum trades, Coinbase goes one better than Bitstamp and offers a €2 minimum. A minimum initial deposit of $50 (or equivalent) applies to get an account properly verified.

Cryptoassets are a highly volatile unregulated investment product. 

5: Binance — Best Crypto Exchange in Denmark for Low Fees

With 90m+ customers and over $10bn of crypto business done every day, Binance is the biggest crypto exchange in the world. This comes with the advantage that the range of options on offer is unparalleled. The potential disadvantage is that this can be overwhelming for the newcomer.

We suggest choosing ‘Classic’ view on the desktop version and ‘Binance Lite’ on the smartphone app to keep things manageable.

Charging just 0.1% max on taker fees on its exchange, Binance is undoubtedly one of the best Denmark crypto exchanges for fees. Investors holding in-house crypto Binance Coin (BNB) can get fee reductions too.

Investors can deposit funds into their Binance account with a variety of methods, as well as use credit card to make instant crypto purchases (3% fee applies, reduced to 1% for first month onboard).

Cryptoassets are a highly volatile unregulated investment product. 

6: Coinmama — International Crypto Broker

Based in Ireland and founded in 2013, Coinmama has been used by 3.2m investors. The emphasis here is on a streamlined range of crypto including Bitcoin (BTC), Ethereum (ETH), meme coin Dogecoin (DOGE) and a sprinkling of DeFI coins.

Intended as a standalone service, Coinmama is unusual because users will need a crypto wallet. Coinmama works on a transaction basis only: this broker will not hold your crypto for you like the other platforms we review here.

Like Crypto.com, Coinmama calculates its fees on the spot. Investors can expect to pay a maximum of 3.9% commission on crypto purchases, and up to 0.9% on selling transactions. Although there is a hefty 5% fee on credit/debit card transactions and a minimum fee of £20 GBP on Swift transactions, Danish investors with a EUR bank account will be pleased to hear that there is no additional fee for SEPA transactions.

7: Bitpanda — European Crypto Exchange offering Crypto Indices

Founded in Vienna, Austria, in 2014, Bitpanda serves 3.5m+ customers internationally. Bitpanda pledges that its full service is ‘available for Danish residents: fully regulated, fully compliant, offering them full control over their money.’

This exchange stands out for its attention to regulation. Bitpanda is registered with the Austrian Financial Market Authority as well as the French AMF.

A range of 170+ crypto is on offer. A minimum trade of just €1 applies. Like top regulated broker eToro, Bitpanda offers a range of stocks, commodities and ETFs too (note that these are traded as CFDs). Arguably, though, what makes Bitpanda stand out as one of the best crypto exchanges in Denmark is its provision of 3 types of crypto index. These allow investors to buy into the price movements of several crypto at once, thus spreading risk.

Danish customers can deposit EUR using SEPA Instant. No deposit or withdrawal fee applies.

8: Coinsmart — One of the Best Denmark Crypto Exchanges for Fees

Although Coinsmart is based in Canada, this exchange is fully set-up to serve Danish customers (as the screenshot below confirms).

Danish investors may deposit funds with SEPA, Mastercard, Visa or bank wire. There is no deposit fee with bank wires but a minimum of $10,000 applies. SEPA deposit is free. But, depending on the brand, a fee of 6% may be levied on credit card deposits. Withdrawal fees apply.

Of the top crypto exchanges in Denmark we have reviewed, Coinsmart offers the smallest range of crypto to trade (just 15): Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS, USDC, Stellar, Cardano, Dogecoin, Polkadot, Shiba Inu, Chainlink, Uniswap, Solana, Polygon and Avalanche. That is a good selection of major blockchains,  DeFi coins and meme coins.

Generally, the Coinsmart interface is slick with a very friendly feeling. Support is available 24/7 via livechat.

The Best Denmark Crypto Exchanges Compared

Fees are difficult to compare across crypto exchanges:

• Crypto.com, for example, offers a maker/taker fee schedule on its exchange. But on its separate app, which we otherwise recommend, fees for crypto transactions vary according to numerous factors. We have contacted Crypto.com in search of hard and fast guidelines, but the bottom line is that investors will have to experiment. The good news is that all Crypto.com fees are shown immediately prior to trade execution.
• Binance offers the best maker/taker fees (0.1%) for crypto bought via their exchange. But for crypto that is bought via cash balance direct from Binance, other fees apply which are not stated.

We recommend using eToro, which has a good claim to being the best crypto exchange in Denmark in terms of fee transparency.

Bitstamp, Bitpanda and Coinsmart are also to be commended for spelling out crypto fees.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

How to Choose the Best Denmark Cryptocurrency Exchange for You

Below we pick out some standout features of the top crypto exchanges in Denmark.

Best Crypto Exchange in Denmark for Regulation

Many countries have refused to regulate crypto businesses over fears of the fraudulent possibilities of crypto, as well as its massive price volatility.

One might expect these factors to make the authorities more keen to regulate, rather than less keen, but this has not universally been the case. The UK, for example, has a particularly strict regime and very few crypto-related enterprises gain official approval. This makes eToro’s regulation with the UK’s Financial Conduct Authority a standout feature.

eToro is the best-regulated of the Bitcoin exchanges in Denmark/Danish Bitcoin Exchanges we have reviewed. eToro boasts regulation:

• In the UK with the FCA
• In Europe with CySEC
• In Australia with ASIC
• In the US with the SEC and FinCEN

Bitpanda, based in Austria, is also conspicuously well regulated. It is covered by the Austrian Financial Market Authority as well as the French AMF.

Best Crypto Exchange in Denmark for Sign-up Offers

Binance offers a reasonable sign-up offer. It is based on the ‘crypto faucet’ model. A faucet is an American word for ‘tap’. A crypto faucet is a platform that ‘dribbles’ rewards to the user in return for completing simple tasks.

Users gets a $50 welcome bonus for signing up with an affiliate link supplied by an existing user and then completing tasks. The first $5 is easy to get hold of: simply deposit $100 with Binance. The $25 task, however, is a stretch: the users is required to commit to a spot trade of $20,000 or more within 7 days of registration.

Best Crypto Exchange in Denmark for Fees

On the face of it, Binance is the best crypto exchange in Denmark or fees.

That is because Binance offers a maximum taker fee of 0.1% if crypto is bought via its exchange. What’s more, a 25% reduction can be achieved if in-house crypto BNB is held. However, Binance offers many other ways to buy crypto like instant buy with account balance (0.5% fee) or credit card (2% fee). The exchange can be a hassle in comparison.

Coinsmart offers 0.2% fixed commission, but only offers 15 crypto to trade.

eToro stands out here for being upfront about its 1% buy and 1% sell fees. Bitstamp and Bitpanda are commendably clear too about their fee structure.

Best Crypto Exchange in Denmark for Tools & Features

Crypto.com bristles with different ways to engage in DeFi staking. Binance too offers great staking opportunities and powerful trading tools. But eToro is the clear winner when it comes tools and features, thanks to its CopyTrader and Smart Portfolio tools.

Best Crypto Exchange in Denmark for Payment Methods

Danish customers will have to accept that Danish krone (DKK) is rarely accepted by crypto exchanges.

What is almost ubiquitous across crypto exchanges is SEPA deposit with EUR. ‘SEPA’ stands for ‘Single European Payments Area’. SEPA deposit is an established payment system. Only EUR is permitted.

Many Danish investors have a EUR account (despite the EUR not being the official currency of Denmark). We recommend that Danish investors follow suit and get a EUR account before signing up with an exchange.

Otherwise, top broker eToro offers a range of deposit options including Skrill and PayPal.

Best Crypto Exchange in Denmark for Customer Service

Most crypto exchanges operate customer service on a livechat or ticket basis.

Most investors would prefer to speak to somebody over the phone when an issue crops up. But we can certainly testify to the efficiency of eToro‘s ticketing service, which works via email.

How to Use a Danish Crypto Exchange

Getting started with the best Danish crypto exchanges generally involves the same four-step process:

1. Sign up
2. Verify ID
3. Deposit Funds
4. Buy Crypto

The automated process exchanges use are getting more reliable all the time.

Below we use eToro (our recommendation for best crypto exchange in Denmark) as an example.

Sign up

Head to eToro.com. Supply a few personal details. Or sign up with your Facebook/Google account. Press the blue ‘Create Account’ button.

Verify ID

Investors will need to supply:

• ID proving who they are (passport/government ID card).
• ID proving where they live.

Sometimes with exchanges it is necessary to take a ‘selfie’ too — either via smartphone or desktop webcam.

Deposit Funds

Depositing funds is generally straightforward with exchanges. This is because it is in their business interests to receive your funds.

With eToro, Danish investors can deposit with bank transfer, credit card, Trustly, Klarna/Sofort, Skrill, PayPal.

No deposit fee per se applies, but a currency conversion fee will be levied. All eToro accounts run on USD, and all other currencies are converted therefore to USD.

Buy Crypto

Finding crypto is generally easy with exchanges. Below we can see that the user of eToro’s smartphone app is searching for Bitcoin. ‘BTC’ is entered in the top toolbar. This brings up a range of BTC pairs to trade, as well as the main Bitcoin homepage.

The user can press ‘Trade’ to head straight to buying crypto.

The user need only fill out how many funds they want allocated to the trade. Stop losses and Take Profit points can usually be set at this point, or attended to later.

Pressing ‘Open Trade’ confirms the trade. With eToro, the trade will usually go through instantly. Onscreen notification will be provided. The crypto which has been bought can then be reviewed in the user’s portfolio.

Cryptoassets are a highly volatile unregulated investment product.

Are Crypto Exchanges Legal in Denmark?

There is no legal impediment to using a crypto exchange that offers its service to Danish investors.

The Danish Financial Supervisory Authority (Finanstilsynet) does not regulate Bitcoin or other crypto specifically when it is a crypto used as a means of payment.

Finanstilsynet distinguishes between assets being a form of payment, a capital asset, or financial service.

What does apply to crypto exchanges sometimes is ‘legislation on alternative investment funds, prospectuses, and money laundering.’

As an EU country, Denmark observes the EU’s Anti-Money Laundering Regulations. Cryptocurrency is not addressed specifically, but this regulation is technology-neutral. A Danish national has been jailed for 4 years for using Bitcoin as part of a money-laundering scheme.

Crypto Tax in Denmark

Between 2015 and 2019 the Danish Tax Agency (Skattestyrelsen) netted 30 million kroner from crypto users. In 2017, an investigation into Danes trading crypto via Finnish exchanges confirmed that crypto would remain on the tax radar.

But, like most countries, Denmark has yet to create or enforce a specific taxation schematic for crypto transactions.

Existing rules which relate to income and capital assets therefore apply on an interim basis.

Four Key Crypto Tax Take-Aways for Danish Investors

The Danish investor needs to be clear on four points:

1. Crypto profits are generally subject to income taxation.
2. The bad news is that losses from crypto sales cannot be offset against profits.
3. If crypto is lost to fraud or theft, a binding ruling will have to applied for by the taxpayer to secure a tax deduction.
4. Danish investors must still pay tax on crypto gains regardless of where their crypto exchange is based.

Danes should further note that, as a complication, some crypto arrangements may be taxed according to financial contract law.

The good news for Danish investors on the lookout for the best crypto exchange in Denmark is that eToro, Crypto.com and other platforms offer a dedicated tax return service for Danish investors.

Conclusion

Above we have attempted to pinpoint the best crypto exchange in Denmark.

We have observed that the top exchanges in the world are available from Denmark. Further, we note that trading crypto from Denmark is legal, but that crypto activity is taxable.

After looking into 8 exchanges in all, we recommend eToro as the best crypto exchange in Denmark.

For all-round convenience, eToro is hard to beat. With a strong range of crypto, as well as a massive range of other financial assets to balance high-risk crypto investment, eToro also offers strong regulation and its pioneering Social Trading tools. Like many of the exchanges we have reviewed, eToro is specifically set up to welcome Danish investors.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

FAQs on the Best Danish Crypto Exchanges