8 Best Crypto Exchanges in Sweden

Crypto exchanges provide more than just a platform for crypto trading. They go a long way in determining the profitability of your crypto investment journey. It is therefore important to consider the key features of each platform before creating a trading account and depositing. While we already have a list of the best crypto exchanges, this list focuses on the Swedish market. 

Safello is a notable crypto exchange in the Nordic region. The platform was founded in 2013 and has grown into a popular crypto investment platform for traders in Sweden. Safello boasts over 380,000 users and supports over 20 crypto assets including UNI, BTC, and ETH. Safello only allows spot trading at the time of writing. The firm is properly licensed to provide crypto trading services in Sweden. It supports the Swedish Krona (SEK) and allows users to directly purchase crypto assets using their traditional banking facilities.

Safello’s Self-custody solution is the Safello wallet. Safello Wallet is an MPC wallet that allows users to log into their wallet using the Mobile BankID. An identity system operated by Safello. Additional services on the platform include OTC crypto trading, On and Off Ramp crypto trading, and institutional financial solutions.

Coinbase is a CASP based in the and also available in over 100 countries. It is licensed to offer crypto asset trading services to investors in Sweden. Licensing details for Coinbase can be found in the Finansinspektionen registry. Swedish crypto investors on Coinbase, have access to spot and derivatives trading services for over 200 crypto assets, it also supports the USD, EUR, GBP, and the Swedish Krona.

Coinbase is a highly liquid trading platform and is viable for trading strategies such as day trading, swing trading, and is also the best crypto exchange for beginners. It also offers institutional crypto solutions and passive income opportunities through crypto staking.

Gemini is a CASP based in the US. It is accessible to investors in Sweden and over 70 countries worldwide. Gemini supports spot and derivatives trading for over 80 crypto assets.  Basic trading services on the platform are available to traders from Sweden. While Gemini is available to investors in Sweden, the licensing data for the exchange is not clear at the time of writing.

Binance is the largest cryptocurrency exchange by daily volume. It is a licensed CASP in Sweden. Binance offers spot and derivatives crypto trading with up to 100X leverage. It supports over 300 crypto assets including TRX, XRP, Bitcoin, and over 10 fiat currencies. Binance also allows traders in the European region to purchase crypto through their native banking services via its On-ramp crypto trading services.

Binance is one of the best leverage trading platforms. Users can also automate their trading strategies using bots. It also offers passive income opportunities through flexible staking programs, crypto lending, and promotional activities.

Kraken is accessible to investors in Sweden and over 100 other countries worldwide. It is licensed by Finansinspektionen to provide crypto trading services to investors in the region. Kraken supports over 300 crypto assets including fiat currencies. Swedish traders can access the spot and derivative trading platform. The maximum leverage on the derivatives trading platform is up to 50X. Kraken is one of the best low-fee crypto exchange as the fee is as low as 002%. The Kraken mobile application is also available for portable crypto trading and asset management.

eToro is available and licensed to provide financial services to investors in Sweden. eToro runs a crypto trading platform that offers crypto trading services and supports up to 30 crypto assets. Spot and leverage trading (up to 30X leverage) services are available on the platform.

eToro is effective for mainstream investors in the country who wish to dive into the crypto space. However, trading fees on eToro are relatively high. Users are charged up to 1% in trading fees. Due to the sufficient liquidity and the platform’s reputation, it is still a solid choice for trading cryptocurrencies in Sweden.

Bybit is available to traders in Sweden and over 120 other countries. It features a spot and derivatives trading platform with high leverage. Bybit is a sufficiently liquid trading platform and is suitable for arbitrage and day in addition to spot and derivatives crypto trading.

Other features of Bybit include a P2P crypto platform where investors can trade their assets with peers using fiat currencies; institutional crypto-based financial solutions and passive income opportunities. Bybit supports numerous crypto assets, over 600 crypto assets are tradable on exchange.

Finansinspektionen has licensed Bitpanda to provide digital asset financial services in Sweden. Bitpanda was founded in 2014 and has expanded its support to over 3,000 digital assets including cryptocurrency, Stocks, and ETFs. Bitpanda also supports traditional banking facilities in Sweden and enables investors in the region to invest in digital assets through their banks and other financial institutions.

Bitpanda offers extra services like the Bitpanda card with Bitcoin cashback for expenses, passive income through crypto staking, and a crypto savings program. It also offers enterprise-grade financial solutions and exclusive services to high-net-worth individuals. The fee for trading crypto assets on Bitpanda is up to 1.49% of the traded volume.

Before creating an account on an exchange as an investor in Sweden, here are some key factors you should consider;

Regulatory Compliance And User Security

The security of your assets held on an exchange is essential. To be on the safer side, use a licensed trading platform and review the security records or history of the exchange before depositing your funds. Cases of security breaches and mismanagement of users’ funds by crypto exchanges are rampant. Verify the exchange’s security architecture and Proof Of Reserves (POR). A reputable crypto trading platform is expected to make this information accessible to users. Licensed CASPs are expected to be more regulatory compliant and cater to the security of their users. Note that this is not guaranteed and always do proper due diligence. 

Platform’s User Interface

Ensure that you understand how to use the platform before you start trading. Digital trading platforms are complicated and are designed to handle significant financial activities. Erroneous operations might lead to significant losses. It is therefore important that you study the platform’s user interface before conducting any activity. Alternatively, just select a simplified platform.

User Experience and Support

Where possible check out reviews by existing and previous users of the exchange you wish to trade on. Independent opinions are a great way to evaluate the average user experience on a trading platform. Verify users’ claims and evaluate the quality of customer support and the effort the platform makes to ensure that users are properly taken care of. A responsive customer support is important in case you need assistance.

Available Trading Pairs And Liquidity

This is one of the first factors to consider before using an exchange. To be able to conduct your trading or investments on an exchange, the platform must support the asset(s) you wish to trade. The listing process varies across exchanges, as a result, exchanges supported by each trading platform could differ. Ensure that the exchange supports the asset you wish to trade. Also, review the liquidity on the exchange using metrics like daily trading volume, spreads across order levels, and volume of order. Keep in mind that poor liquidity causes significant slippage, which could affect your profitability.

Additional Services

In addition to the primary crypto trading services, also consider other services available on the exchange. Secondary features like passive income programs (crypto staking and promotional programs), IEOs (initial Exchange Offerings), crypto lending, and OTC trading are handy opportunities that could significantly contribute to your investment journey. These features might not be important to you immediately but they are solid points to consider before choosing a crypto trading platform.

Crypto assets are legal in Sweden, however, crypto-related operations are under scrutiny by the legislative arm of the Swedish government. Finansinspektionen – the Swedish Financial Supervisory Authority, handles the organization of crypto financial operations in the region. Crypto Asset Service Providers (CASPs) are required to be fully licensed by Finansinspektionen. The licensing process involves critical analysis of the exchanges’ operation, provision for the security of users’ deposits, and compliance with the anti-money laundering laws of the region. Licensed CASPs in Sweden can be found in the Finansinspektionen registry.

Crypto financial activities also fall under the jurisdiction of the Currency Exchange and Other Financial Activities Act (the CEFA Act). The CEFA Act also delineates compliance procedures by crypto trading platforms. On a wider scope, these firms and investors must also operate within the legal specifications of the Market Crypto-Assets Regulation (MiCA).

Crypto Taxes in Sweden

Crypto assets are recognized as tradable assets in Sweden. While they are not accepted as legal tender, they are subject to the nation’s tax laws. Gains from crypto investments are subject to up to 30% capital tax with up to 70% losses (Losses from other investments) deductible.

According to a survey published on May 6, 2024, about 550,000 of the Swedish adult population own at least one crypto asset. This represents 7% of the adult population in the European nation. This figure is projected to grow to over 10 Million in the next ten years. Sweden’s stance on crypto and digital assets has been relatively positive. Several centralized exchanges have been licensed to operate in the region and have partnered with traditional banking institutions. We have reviewed some of these platforms in the course of this article. As an investor, evaluate these key features and select a trading platform that serves you best.