Best Crypto Exchange In Cyprus

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In this guide, we discuss the best crypto exchanges in Cyprus. We have tested and evaluated 133 digital exchanges in 8 distinct categories. We have analyzed all particularities of their offering, including exchange costs, platforms, deposits & withdrawals, asset portfolios, liquidity, safety, and customer service. 

The highest-scoring crypto trading platforms are in the list below. 

Top 6 Crypto Exchanges In Cyprus

  1. Coinmama Excellent platform with an intuitive interface.
  2. Coinbase – Great trading platform and low fees.
  3. Kraken – Sophisticated trading tools for experienced investors.
  4. Bitstamp – Low trading fees.
  5. Bittrex – Versatile portfolio and secure trading platforms.
  6. Cash App – Best toolset for beginners. Easy to use Bitcoin trading platform.

Best Crypto Exchanges In Cyprus – List

ExchangeOverall ScoreGeneral infoFees (Maker/Taker)Spot Volume (BTC)
#1Coinmama2Excellent platform with an intuitive interface0.01%/0.00%$808,571
#2Coinbase4.8Best crypto trading platform1.99%/1.99%$451,706,550
#3Kraken4.5Most trusted exchange0.16%/0.26%$53,964,331
#4Bitstamp2.3Low trading fees0.16%/0.16%$13,764,224
#5Bittrex4.7Versatile portfolio and secure trading platforms0.16%/0.1%$23,118,221
#6Cash App4.8Best for beginners1.8%/2.75%$68,571

This section below breaks down the best crypto trading platforms in Cyprus, beginning with the top rated…

01. Coinmama: Best Intuitive Crypto Exchange 

coinmama-rating

Coinmama is the best intuitive crypto exchange for traders in Cyprus. It has an excellent reputation and offers access to high-security standards. The Coinmama platform is simple and offers an impressive user experience. 

This exchange offers standard trading features and financial products. It doesn’t offer an e-wallet or professional services. Coinmama has a straightforward fee structure with no hidden costs. 


02. Coinbase: Best Exchange With Fast Trade Execution 

coinbase-cryptocurrency-exchange

Coinbase is a reputable crypto exchange with attractive buy, sell, and exchange solutions. It has a versatile portfolio with access to 107 digital coins, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Coinbase has a transparent fee structure with fees above the industry average. 

This exchange has two proprietary platforms. The standard platform is intuitive and a good fit for inexperienced traders. Coinbase Pro is a professional platform with access to advanced tools and lower fee structures. 


03. Kraken: Best Exchange For Bitcoin Trading 

kraken-exchange-logo

Kraken is a popular digital exchange with a good reputation and secure services. It offers excellent Bitcoin trading services and a comprehensive crypto portfolio. Kraken has access to futures and margin trading. 

This exchange has a user-friendly proprietary platform for buying and selling crypto coins. It has some of the lowest fees in the industry and offers a quick buy feature. Kraken has useful educational resources and a mobile app available on Android and iOS. 


04. Bitstamp: Best Exchange With Low Minimum Trade 

bitstamp-rating

Bitstamp is a leading cryptocurrency exchange with a low minimum trade. It offers a beginner-friendly app with an excellent trading experience. Bitstamp’s fees range from 0.14% to 0.50% based on the underlying coin. The minimum trade with this exchange is $20. 

Bitstamp has a simple mobile trading app that offers advanced features. Account holders receive access to a good coin selection, but professionals might miss a few bigger cryptos. 


05. Bittrex: Best Secure Exchange

bittrex-rating

Bittrex is a centralized cryptocurrency exchange with secure platforms and services. It has an impressive daily trading volume of $300 million. It offers premium safety measures and access to crypto-to-crypto exchange services. 

Bittrex has a digital wallet service and a proprietary platform. This app is available on iOS and Android and has an intuitive interface. Bittrex has limited educational resources. 


06. Cash App: Best Exchange For Inexperienced Traders 

cash-app-rating

Cash App is a global trading platform with crypto trading and financial services. It is a peer-to-peer money transfer system with flexible funding solutions. Cash App has an excellent portfolio with access to leading coins, including Ripple, Ethereum, Shiba Inu, and Bitcoin. 

Their app is interactive and user-friendly. It has average trading costs, and it charges additional commissions. Cash App doesn’t offer professional features like crypto staking and storage solutions. 


How To Pick a Crypto Exchange?

The main aspects to focus on when picking a crypto exchange include costs, platforms, apps, assets, deposits & withdrawals, liquidity, security, and customer service. 

Fees: Avoid exchanges with high trading fees, overnight fees, and hidden fees. 

Trading Platforms: A crypto trading platform must offer access to useful tools and materials. Search for an intuitive and fast executing platform. 

Mobile Trading: Mobile apps need to offer the same trading experience as their web versions. Choose an app that has the same tools and charts as its other versions. 

Deposit & Withdrawal: Select an exchange with access to your preferred deposit and withdrawal methods with low or no costs. 

Assets: We recommend you choose a platform with the best asset coverage. Crypto traders should avoid exchanges that don’t offer popular altcoins, such as Ethereum, Tether, Polygon, and Cardano. 

Customer Support: New crypto traders should consider platforms with knowledgeable and responsive support available in their language. 

Liquidity: High trading volumes and liquidity are key indicators you will be able to sell your assets. 

Security: Choose an exchange with top-tier licenses and industry-leading safety protocols. Prioritize exchanges with a clean history record of hack attacks. 

*Safety Risks For Cypriot Citizens

Trustworthy cryptocurrency exchanges for Cypriot citizens are government-regulated and have trading licenses. Larger exchanges have a banking history.

Regulation Of Cryptocurrency Exchanges in Cyprus

The Cyprus Securities and Exchange Commission (CySEC) regulates cryptocurrency exchanges in Cyprus. It is the main regulatory body that oversees all crypto exchange activities in the country. CySEC is respected throughout the world as a top-tier regulator. Exchanges registered in Cyprus need to follow strict AML and CFT standards of the Digital Currency Exchange Register. A licensed exchange has to identify users based on KYC standards. Unauthorized exchanges are subject to charges and penalties. 

Is Cryptocurrency trading legal in Cyprus?

Cryptocurrency trading is legal in Cyprus. Digital coins might become financial instruments under Cyprus law and be subject to taxation. The crypto mining regulation and legality in Cyprus remain unclear. 

How To Start Trading With – Coinmama

Coinmama is the best crypto exchange in Cyprus because of zero hidden fees, excellent tools, and platforms. Below are the steps you have to follow to start trading on Coinmama. 

Step 1: Open up the Coinmama official website 

Access Coinmama’s official website under this link here: https://www.coinmama.com/ 

Step 2: Click on the “Sign Up” button 

Next, you have to click on the “Sign Up” button. Submit your email, country of residence, and create a password. 

Step 3: Verify your trading account 

To buy cryptocurrency using Coinmama, you must create an account, pass verification, and make a deposit. This will let you buy, hold, and sell cryptocurrencies with Coinmama. 

Step 4: Buy crypto coins 

After verifying your account, you can buy, hold, and sell fractions of a crypto asset. To own crypto, you don’t have to buy the whole coin. 

Conclusion

We recommend Coinmama as the best crypto exchange for Cypriot crypto traders. It offers a reliable mobile trading app, high-security standards, and a transparent fee structure. Coinbase is our second choice based on its overall low fees and excellent customer service.  

FAQ

What Is A Centralized Cryptocurrency Exchange?

A centralized cryptocurrency exchange is a private company with access to crypto platforms for buying, selling, or holding cryptos. These exchanges are secure and follow strict rules. Centralized exchanges request identification, known as the Know Your Client rule. 

What Is A Decentralized Cryptocurrency Exchange?

A decentralized cryptocurrency exchange (DEX) refers to a provider with no central control. It works as a server and stores a perfect copy of the entire exchange on different devices. A DEX uses an “automated market maker” protocol and relies on user-contributed liquidity pools. This allows trading without an order book or central trading desk. 
DEXs don’t have licenses from a regulatory body and don’t follow any rules. These exchanges are difficult to hack directly but come with significant security risks if misused. If you opt for trading on a decentralized exchange, you risk losing all your funds. 

How To Buy Cryptos Through An Exchange? 

Centralized exchanges let users buy cryptos with fiat currency deposits from a bank account or credit/debit card. These exchanges provide access to secure tools for swapping fiat currency and cryptos. You need to use a “non-custodial wallet” to protect your funds when trading on a centralized exchange. 

Is Crypto Legal In Cyprus? 

Yes, crypto is legal in Cyprus. You need to use a secure exchange for cryptocurrency trading. 


Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Past performance is not an indication of future results. Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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