How to Buy Crypto in Norway

In Norway, Bitcoin is kind of a big deal.

Norway legally recognized Bitcoin as an asset and rolled out crypto service provider regulations in 2018, paving the way for a thriving crypto market. Of course, this has led to many new investors looking to cash in!

For investors interested in how to buy Bitcoin and invest in other cryptocurrency assets too, a wide variety of options are available.

Blockchain and crypto investors can buy crypto from any licensed exchange. Some of these exchanges have stricter KYC rules than others, and Norwegian regulations have been established to prevent money laundering at crypto exchanges.

Buying Crypto from a Norwegian Exchange: Pros and Cons

There’s no major benefit to buying crypto from a Norwegian exchange over other exchanges, other than perhaps favorable rates when trading in Norwegian Krone. However, we’ve outlined a list of exchanges based on a number of factors, with cost-effectiveness being one of those factors, and we kept our list international rather than focusing on Norwegian exchanges.

Asset Taxation of Bitcoin and Other Cryptocurrencies in Norway

Bitcoin is classed as an asset in Norway and subject to capital gains tax. You can read more about Norwegian law around crypto and taxation here.

How to Choose a Crypto Exchange

In our view, the main factors to consider when choosing the right exchange are the ease of use, fees involved, available currencies, and limits. Let’s take a look at our list of exchanges now.

Before we begin, we’d like to highlight CryptoWallet.com as our top pick. CryptoWallet.com isn’t just an exchange, but an all-in-one crypto banking service. CryptoWallet.com allows users to trade BTC, LTC, ETH, XRP, and USDT, and even to spend crypto in any store using the CryptoWallet.com debit card.

Ready to use crypto as real money? Download CryptoWallet.com for iOS or Android here.

Coinmama is an Israeli crypto exchange with 8 digital currencies to choose from. Users can fund their accounts with PayPal, Apple Pay, debit/credit card, or wire transfer, a wide range of payment options.

Ease of Use: Easy
Available Currencies: BTC, BCH (Bitcoin Cash), ETH, ETC, ADA, LTC, XTZ
Fees: Up to 3.9% for buys, up top 4% for sells
Limits: $5,000 USD on cards and $15,000 USD for wire transfer on level 1 KYC, higher limits for higher levels.

Kraken is a major exchange for digital currencies, offering over 40 assets and dealing in high volumes. While the exchange faced fallout following a flash crash in 2021 due to a lack of liquid assets on the platform, Kraken’s reputation is generally considered to be very high.

Crypto Assets: Very easy
Fiat Compatibility: EUR, GBP, JPY, CNY, USD
Fees: 0% – 0.16% taker fee, 0.1% – 0.26% maker fee, higher for credit card fees
Limits: $5,000 USD daily withdrawals for 30 days, then unlimited withdrawals (crypto)

Binance the world’s largest exchange by trading volume and offers over 500 investable assets to trade in. The company balance sheet is often spent on funding crypto startups and project incubators. The main complaint around Binance is the lack of customer support available to its users if something goes wrong.

Ease of Use: Intermediate
Fiat Compatability: 15
Fees: 0.02% to 0.10% purchase and trading fees, 3% to 4.5% for debit card purchases
Limits: 2 BTC per day for level 1 KYC, 100 BTC per day for level 2.

CEX is licensed by the FinCEN regulator, offering an added layer of security for Bitcoin traders, as the regulator services as an authority on cryptocurrency exchanges. Users can choose from a wide range of payment options.

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

Paybis is a major Bitcoin player in the cryptocurrency industry, despite the relatively limited range of cryptocurrencies which currently stands at 10 assets. Paybis does, however, offer many fiat currencies and payment options, including Norwegian Kronen compatibility for cryptocurrency purchases.

Ease of Use: Very easy
Fiat Compatability: 47 fiat currencies
Fees: 1.5% or higher for card transactions
Limits: $20,000 USD per week, $50,000 per month. EUR bank transfers allow up to 200,000 EUR per week.

Bitpanda is an exchange based in Vienna, Austria. Bitcoin users can trade with the native BEST token against other assets to save fees, which otherwise start at 1.49%. The exchange offers cryptourrency trades in 20 different assets.

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

Bitstamp is a low-cost, peer-to-peer exchange with five supported assets. Cryptocurrency enthusiasts often use Bitstamp to avail of its 0.25% trading fees, a relatively low fee compared to others on the cryptocurrency market. KYC is also fairly non-stringent for a cryptocurrency desk, and users can trade and withdraw crypto without submitting their ID.

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

eToro is a digital finance platform that guards against money laundering with its strict KYC protocols. Users can trade crypto as well as stocks and CFDs, and one popular feature allows users to have conversations with people and mimic the trades of other successful traders.

eToro users must deposit a minimum of $500 USD or equivalent currency before trading.

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

Is Cryptocurrency legal in Norway

Yes, the Norwegian government legally classifies crypto as an asset and it is legal throughout the entire country, as are crypto brokerage services and Bitcoin ATM installations. Legislation is in place to prevent illegal activities.

Is there Bitcoin ATM in Norway

Yes, Bitcoin ATM installations are legal and available in Norway, offering Bitcoin users exposure to Bitcoin without having to use an exchange or complete KYC. However, this access to Bitcoin comes at a higher cost, as the ATMs charge a high fee for on-the-street exposure to Bitcoin.

Where is the best place to buy crypto

Exchanges are the best place to buy crypto. We recommend CryptoWallet.com as the best exchange to buy crypto and even spend it, due to the high level of security, insured funds, and added banking features.

Download CryptoWallet.com here!

Where can I find a Bitcoin machine

Bitcoin ATM machines can be found throughout Norway.

Which countries have banned Cryptocurrency?

No countries have totally banned cryptocurrency, but it is heavily restricted in China, Turkey, and India among other areas.

How to Buy Crypto in Norway