How to Buy Bitcoin in Spain | Complete Guide

Best Spanish Exchanges for Buying Crypto

Well, spoiler alert: It’s pretty darn easy to buy Bitcoin in Spain. Most of the popular trading platforms are present in the country, so all you need to do is to pick one! Coinbase España is a popular choice as the international crypto exchange offers a wide range of features with a stellar reputation for security. Coinbase support is also provided in España.

Coinbase isn’t the only option and most international exchanges are available in the country. Here is the list that includes a few options. Note that all of them are multinational and operate across the globe:

• Coinbase
• CEX.IO
• Bitpanda
• Changelly

Is Crypto Legal in Spain?

Let’s put it this way: crypto in Spain is not banned, although there is no specific regulation in place yet.

In short, the local authorities don’t consider digital coins as money or financial instruments. However, depending on the situation, they might think that cryptocurrencies are securities, commodities or utilities and will treat them accordingly.

Importantly, regulators’ approach to small-size investors in Spain is very conservative and protective due to a large number of frauds in the crypto niche. Thus, if anything bad happens to you, you can always try and apply to the law on consumer and investment protection.

What about crypto taxes? Crypto is taxed in Spain at a variable rate from 19 to 23%. Higher rates will apply for the gains that exceed €50,000.

So, going back to the initial question if crypto is legal in Spain, the answer is yes, but there is no specific regulation just like in Japan.

Is Buying Crypto Easy in Spain?

While Bitcoin is still relatively hard to find in the mainstream, you might be surprised to learn that Spain is home to over 100 Bitcoin ATMs. It’s actually an impressive number compared to the rest of the world and sure to grow over the coming years.

In the global ranking of countries where you can find Bitcoin ATMs, Spain occupies the 4th place, which is a distinguishing stat that marks some engagement levels, or at least some engagement potential for crypto.

Bitcoin ATMs are very cool in a way: they are some sort of crypto renegades that guard the border between two worlds giving you a chance to interact with Bitcoin physically, which is rare. So if you bump into a huge orange box made of iron that looks like a regular ATM but not a regular ATM, congrats!

It’s easy to buy crypto from such a machine, and yet, you will maybe need to watch a couple of videos first, just in case.

But if you have a credit/debit card and, are ready to sign up with a cryptocurrency exchange, you won’t need any Bitcoin ATMs, and yes, buying crypto won’t be hard at all.

Exchanges across the globe have become increasingly secure over the years and Spain offers access to most of the high-quality ones.

Of course if you have a bank account it’s likely much easier (and cheaper) to just use an exchange.

Best Crypto Wallets for the Spaniards

Don’t have time? Just check out this comprehensive list of crypto wallets on our website. Want to know where you’re about to put your money into? Then, read on!

If you’re used to choosing goods by their brands or good reputation, here is some bad news for you. The country that developed your crypto wallet might not be the key factor when you decide which asset management tool to choose. So there are no specific cryptocurrency wallets for Spaniards.

But what’s important to know, then, while choosing your first crypto wallet?

In the world of digital currencies, what’s hidden under the hood of your crypto wallet is sometimes as important as the funds it stores.

You see, there are two wallet types in general in the cryptocurrency niche:

• custodial wallets
• and non-custodial ones.

This interesting differentiation originates from a new DeFi trend everyone talks about so much these days.

DeFi project create non-custodial wallets designed mostly for ERC20 tokens, not Bitcoin, for nobody, at least, on paper, to be able to control your funds except you.

The list of these wallets includes but not limited to:

• Furucombo
• Argent
• Zerion

However, in order to transact BTC, you’ll most likely need a beginner-friendly custodial wallet such as:

• Freewalet
• Coinbase
• BRD
• Bitgo
• Crypto.com

The custodial wallets’ teams will store your private keys, your passwords and basically all the information you need to access your funds.

Some say, it’s a bad thing because you can’t control your money, but some will tell you that they don’t need crypto for its decentralization. They don’t care about the philosophy, they just have to transact on a daily basis using a simple and nice interface. And should we really blame them for that?

So, are there any specific crypto wallets for Spaniards? Nope. Are there any specific crypto wallets for ERC20 tokens and mainstream coins such as Bitcoin, Monero and Ripple? Yes, and those are two completely different wallet categories to choose from.

How Do I Fund My Exchange Account in Spain?

You might be wondering how exactly you turn your Euros into Bitcoin or Ethereum.

The process, like most crypto transactions in Spain, is relatively easy. You’ll need to sign up for an exchange (this requires providing a small amount of personal information, depending on the exchange) and then set up a method for getting money into your account.

There a number of different payment methods for funding crypto exchange accounts in Spain including SEPA, credit card, PayPal and, with certain exchanges, Apple Pay.

You’ll generally pay a small fee if you want instant deposits or you can wait a few days and get low-cost or free deposits.