How to Buy Crypto in Estonia |

How to Buy Crypto in Estonia

With welcoming cryptocurrency and blockchain regulations, Estonia is one of the world’s leading hubs for crypto activity. Trading, research, and business development in the crypto industry thrive here in Estonia, with a growing number of Estonians looking to acquire digital assets.

How to Buy Bitcoin in Estonia

Here we are going to provide a quick breakdown of how to get your very own crypto in Estonia.

Purchasing cryptocurrency is a relatively simple process and while methods can differ, they’ll usually require the same essentials. Firstly select a means of purchasing that best suits you and your needs. Do you wish to purchase crypto on a crypto exchange? Or perhaps via an integrated app system that can be linked to your bank account? Or perhaps by purchasing crypto via your credit card? Each of these methods will require different registrations and verifications but are fairly straightforward.

Regardless of your chosen method, you will generally be required to provide some KYC information, follow a simple registration process, and perhaps be required to verify your identity. From there you can either send fiat funds to an account that can then be used to trade or by using your credit card to purchase more directly.

Given the very favorable crypto trading conditions of Estonia, you can rest assured that you have a wide array of purchasing options to choose from and can feel confident in Estonia’s strong legal framework to protect your purchase.

Bitcoin & Cryptocurrency Trading in Estonia 

Estonia was the first EU country to enact directive 2015/849, the first law to regulate cryptocurrencies. This forward-thinking action helped kickstart a thriving crypto market in Estonia.

Many exchanges are registered in Estonia with an Estonian cryptocurrency license regulated by the EU, legalizing the sale of financial assets like cryptocurrency to retail and institutional investors.

Understanding the Role of Blockchain Technology and Accounting for Crypto-Assets in Estonia

Blockchain technology is what powers cryptocurrencies. A blockchain is a network of computers or “nodes” which store transaction information separately, like a ledger or notebook distributed across many users.

For a transaction to be validated, every node must agree — this means hacking or altering the network would require hacking dozens, hundreds, or even thousands of computers, making blockchain and cryptocurrencies highly secure.

Cryptocurrency earnings are not subject to tax for income or VAT purposes in Estonia, only regular business tax for businesses, making the country a desirable HQ for crypto startups and for any private person interested in crypto. There are a number of ways companies can use crypto as part of their balance sheet for financial gain without being heavily taxed, depending on the company structure and its crypto licenses.

The History Of Cryptocurrency Regulations in Estonia

Estonia enacted directive 2015/849 in 2017, discussing possible amendments in Q4 of 2019. In 2020, Estonia streamlined its regulations even further, merging the two licenses previously required to run a crypto business into a single cryptocurrency license.

2020 also saw new and stringent background checks introduced for crypto business teams, ensuring that all crypto business executives have an excellent reputation before issuing a license. The buying of services with cryptocurrency earnings is legal, depending on the category of services.

Here are the Best Exchanges to Buy Crypto in Estonia

2 Coinbase

Coinbase is one of the world’s leading crypto exchanges, noted for its easy-to-use interface and compatibility with multiple fiat currencies. Founded in the U.S. in 2012, many early adopters of crypto used Coinbase as their first entry point to crypto before other options became available. A tradeoff of Coinbase’s easy access is its fees which are higher than most other exchanges.

  • Ease of Use: Very easy
  • Fiat Compatability: Dozens of supported currencies
  • Fees: 1.5% – 4% for fiat purchases, up to 0.5% for crypto trades
  • Limits: $25,000 daily for KYC verified users

3 eToro

eToro is a virtual currency service that brokers stocks, CFDs, and cryptocurrencies. Users can mimic the trades of advanced or successful traders. However, exchange services are limited — users can’t spend their funds on real goods or services. There is a minimum deposit of $500 USD.

  • Ease of Use: Intermediate
  • Fiat Compatibility: Dozens of supported currencies
  • Fees: 0.75% on BTC trades
  • Limits: $10,000 daily deposit


CEX is a FinCEN-licensed virtual currency service that facilitates crypto trading, making it one of the few exchanges regulated by a legal entity. Users can choose from a wide range of cryptocurrencies and can top up their fiat accounts using a credit card, debit card, or services like Skrill.

  • Ease of Use: Easy
  • Fiat Compatibility: USD, EUR, GBP, and RUB
  • Fees: 0.25% taker fee, 0.16% maker fee, 2.99% for credit cards
  • Limits: $3,000 USD daily deposit, $10,000 withdrawals for tier 1

5 Coinmama

Coinmama is a financial service that offers users 8 cryptos via a number of payment options including credit and debit cards, bank transfer, or even Apple Pay. Fees are higher than most platforms, starting at 3.9%.

  • Ease of Use: Easy
  • Fiat Compatibility: GBP, EUR, AUD, CAD, JPY, USD
  • Fees: Up to 3.9% for buys, up top 4% for sells
  • Limits: $15,000 USD daily

6 Kraken

Kraken is a major U.S. exchange with a wide range of crypto and fiat pairs. Users can cut trading costs by using stablecoins to buy digital currencies, where fees start at 0.9%, while other trades cost 1.75% per currency transaction or 3.75% for card transactions. Kraken also publishes reputable market research.

  • Ease of Use: Easy
  • Fiat Compatibility: USD, EUR, CAD, AUD, GBP, CHF and JPY
  • Fees: 0.9% – 3.75%
  • Limits: $5,000 – $10,000,000 daily

7 Bitpanda

Bitpanda is a cryptocurrency company known for relatively low fees and its wide range of cryptocurrencies. Fees for BTC are 1.49% but range lower when using the native BEST utility token. Withdrawals are limited until users pass KYC verification.

  • Ease of Use: Easy
  • Fiat Compatibility: EUR, USD, GBP, CHF and TRY
  • Fees: 1.49% or lower
  • Limits: ~$1,800 withdrawals for unverified users

8 OKCoin

OKCoin is a highly liquid exchange with advanced trading features, moreso than many other crypto companies and financial institutions selling digital assets. However, financial transactions are limited to crypto only, with no fiat currency support. Fees are very low, with a maker fee of 0.10% and a taker fee of 0.20%.

  • Ease of Use: Advanced
  • Fiat Compatibility: USD, EUR
  • Fees: 0.10% – 0.20% for trades under $100,000 USD
  • Limits: $1 million daily

9 Bitstamp

Bitstamp lists five different cryptocurrencies including Bitcoin, a smaller range than competitors like Coinbase. There are few or no additional services beyond crypto trading in the traditional sense. All economic transactions cost 0.25%, and KYC is only required for traders seeking to withdraw their funds as fiat currency.

  • Ease of Use: Intermediate
  • Fiat Compatibility: USD, EUR, GBP
  • Fees: 0.25% for trades under $10 million
  • Limits: 2500 USD/EUR/GBP daily

10 Changelly

Changelly is a crypto exchange with 140+ different currencies traded and a reputation for strong customer service and a fair market rate. The market risk of volatility is, of course, persistent as on any exchange. Financial assets are subject to a 0.5% transaction fee.

  • Ease of Use: Intermediate
  • Fiat Compatibility: EUR
  • Fees: 0.5% flat rate
  • Limits: Unlimited after one month, $500 daily until then

11 Paxful

Paxful is a crypto exchange selling three financial assets — Bitcoin, Ethereum, and the Tether stablecoin. While the range of financial assets is limited, users can choose from over 300 different payment options such as PayPal, bank transfer, etc. The platform charges a 1% fee to sell crypto and 0% to buy it. The exchange rate is set by users themselves. Because users set rates, you may not always get a fair market rate — you could be paying more or less than the market value of a cryptocurrency on Paxful, as economic activities such as arbitrage are possible.

  • Ease of Use: Advanced
  • Fiat Compatibility: USD
  • Fees: 0% buyer, 1% seller
  • Limits: $1,000 – $50,000+ depending on KYC

Estonia Crypto Exchange FAQs

Let’s take a look at some of the commonly asked questions regarding crypto & Bitcoin in Estonia.

Is Cryptocurrency legal in Estonia?

Yes, crypto and related economic activities are legal and regulated in Estonia. Business activities such as adding Bitcoin to a company balance sheet, virtual cryptocurrency investing, mining activities, development activities, Bitcoin ATM use, and more are legal with the correct license.

Where is the best place to buy crypto?

The best place depends on your needs. We believe that suits most people best, as it offers an all-in-one crypto banking solution with a debit card to spend crypto on real goods and services with as well as an exchange and a currency wallet service.

Which country uses Crypto most?

The U.S. is currently home to the most economic activities related to crypto such as virtual cryptocurrency investing, development activities, BItcoin ATM use, cross-border services, cryptocurrency mining, and companies storing their capital in cryptocurrency. However, corporate income tax is typically higher for crypto companies in the U.S. compared to Estonia, and central banks and regulators are not as welcoming towards crypto in the U.S.

Can we buy Cryptocurrency in all countries?

Crypto is heavily restricted in China, Turkey, and India among other countries.

What is the best crypto to invest in in 2020?

Nobody can tell you what the best crypto to invest in is, only what the best methods are. If you’re interested in investing in crypto on the go, using your phone, while being able to spend crypto as real money anywhere you like, try now!

Can you buy Bitcoin with a credit card in Estonia?

In Estonia, you are fully entitled to purchase bitcoin with your credit card. However, it must be noted that not all crypto exchanges provide this specific financial service and a small amount of credit card providers may attempt to block the transaction.

Purchasing crypto in Estonia with your credit card works much in the same way as purchasing cryptocurrency on any regular exchange. This will involve the creation of a profile on the site, basic registration information, and the eventual purchase via your card, much like you would purchase regular goods and services. The main consideration for those who wish to purchase crypto this way is to make sure their provider has this trading option and that their card supports this purchase.

But bar these few considerations, Estonia once again shows how favorable it is to crypto finance by fully enabling the purchasing of crypto across a few different providers. eToro, as previously mentioned is one such financial service that has a history of allowing users to purchase cryptocurrencies such as Ethereum or Bitcoin via a Visa or Mastercard. Another such provider of this service is Kriptomat, which also allows registered users to purchase various cryptocurrencies with their credit cards.