Best Crypto Exchange Ireland for May 2022 – Business 2 Community

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If you want to buy and sell crypto in Ireland today, you will need to have an account with an exchange that accepts Irish citizens and residents.

In this guide, we take a closer look at the best crypto exchanges in Ireland for 2022.

Our crypto platform reviews cover everything from supported payment methods and trading commissions to regulation and customer service.

In the following sections of this guide, we review the best Irish crypto exchanges listed above so that you can decide which is the most likely to suit your goals.

The Top Bitcoin Exchanges in Ireland Reviewed

Even the best Irish crypto exchanges vary in terms of features, fees, and asset availability. This means there is an exchange to suit everyone.

For instance, some traders look for tools like advanced charts and technical indicators to try to predict the market. Others might prefer a simple site with passive trading features to shorten the learning curve.

Below we review the top crypto exchanges in Ireland so you can make an informed choice of where to invest.

1. eToro – Overall Best Crypto Exchange in Ireland for 2022

eToro was founded in 2007 and now serves 25 million users across 140 countries – including Ireland. For safety, eToro Europe is regulated by CySEC. eToro is also regulated by the SEC, FCA, and ASIC. The crypto platform operates across the single market thanks to EU passporting laws.

You can trade 64 cryptocurrencies at the time of writing, so you can buy Bitcoin in Ireland alongside a variety of other established and new cryptos, although the platform regularly adds new assets. A key benefit that makes this the overall best crypto exchange in Ireland is the broker’s fee system. The commission fee structure is as simple and transparent as it gets.

When you buy and sell cryptocurrencies, you will be charged a single flat fee totaling 1% of the position size. When you’ve created a trading account, you can fund it with a minimum of $50 (around €47). As such, this is one of the biggest crypto exchanges in the space for those on a budget. To fund your account, eToro supports a wide range of payment methods.

Deposit methods comprise wire transfer, debit/credit cards, Skrill, Neteller, and PayPal. Note that if you choose to make a deposit with a wire transfer, the minimum is $500 at eToro Europe. Non-USD deposits are charged at 0.5% per transaction. This is due to the conversion of euros to US dollars, which is the currency that eToro operates in.

This is still competitive and translates to only €0.50 from every €100 deposit. If you decide to diversify your investments, you will have lots of options at eToro. This includes adding other assets to your portfolio, such as stocks and ETFs, which are offered on a commission-free basis. eToro is also one of the best platforms for social trading.

For instance, you can view the diverse range of smart portfolios on the platform and then pick one to invest in. Each smart portfolio contains a balanced and carefully selected ready-made basket of cryptocurrencies. You can add a smart portfolio to your account by allocating $500 or more.

Another option is copy trading. In a similar sense, you can find one you like and then invest some funds to add it to your portfolio. In this case, you are investing in an individual trader with previous experience. After investing in copy trading, any cryptocurrencies they buy or sell will appear in your own portfolio.

The stake size you see in your portfolio will be proportionate to the amount you allocate to copy trading, and the minimum investment is just $200. This Irish crypto exchange also offers a free paper trading account to help any newbies who wish to hone in on their skills. There is also the option of a free mobile phone app so you can trade on the go.

What We Like:

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Crypto.com – Great Cryptocurrency Platform for Earning Interest

Crypto.com is the best Bitcoin exchange in Ireland for those who want to earn interest on idle tokens. You can gain up to 14.5% per annum on tokens like Polkadot by loaning your digital assets to others via Crypto Earn. This platform also offers its own Visa card to Irish crypto traders.

The Crypto.com Visa card allows you to spend crypto and earn cashback when buying from brands like Airbnb, Netflix, Spotify, and more. You will also be able to earn benefits from staking the platform’s own token CRO (Cronos), such as high-interest yields and lower fees.

You can earn up to 8% depending on the card you choose/qualify for. Commission is charged when you trade crypto assets at this exchange. Up to 0.40% is charged on each transaction, although this fee will be lowered for qualifying high-volume traders. When it comes to storing your digital tokens, you can opt for the custodial wallet offered by the exchange.

This saves you from looking after the private keys needed to access stored cryptocurrencies. If you would prefer to have full control over your crypto assets, download the DeFi wallet offered by the Crypto.com exchange. In this case, you will be tasked with keeping your own private keys safe.

If you decide this is the best cryptocurrency exchange in Ireland for your objectives, you can fund your account by arranging a wire transfer. Alternatively, you can opt for an instant debit card payment at a fee of 2.99%. This crypto exchange also has an NFT marketplace and a secure and easy-to-use mobile app.

What We Like:

Cryptoassets are a highly volatile unregulated investment product.

3. Capital.com – Best Platform to Leverage Crypto Trades

Capital.com is one of the best platforms to trade crypto assets with low fees. As a CFD platform, Capital.com allows you to speculate on the price of crypto tokens in either direction. This gives you the chance to try to profit from tokens that you foresee falling in value.

If you think a token will fall, you can short it by placing a sell order, and then a buy order to cash out. If the opposite is true and you think the crypto asset will increase, you can place a buy order and a sell when you’re ready to cash out. A key component of trading cryptocurrencies via CFDs is that the instrument tracks the price of the token in question.

Moreover, by choosing a CFD platform you can leverage your trades if you wish. That said, if you have never traded with leverage before, make sure you research the subject first. After all, it is risky to trade such a speculative asset with a higher amount than you would otherwise have available.

There are over 470 digital asset pairs to trade at Capital.com and you will not have to pay commission fees. This means all you will be required to pay is the spread – which is the gap between the price the market will buy the token for, and its sell value. We found this to be competitive at Capital.com.

When you’re ready to fund your account so you can trade cryptocurrencies, you will need to add a minimum of $20 if opting for an e-wallet or a debit/credit card. If you choose to make a deposit using a wire transfer, you will need to fund your account with $250 or more. Finally, Capital.com offers a free mobile app so you can trade crypto tokens on the move.

What we like

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks.

4. Binance – Low Commission Crypto Exchange for Trading   

Binance is another worthy consideration when you’re deciding on the best crypto exchange in Ireland. Binance offers more than 600 cryptocurrencies and charges a commission fee of up to 0.1%. This platform has a native token called BNB.

If you buy this cryptocurrency, not only can you use it to pay for fees, but you’ll get a great rate for doing so. To further explain, Binance offers a 25% discount on all fees paid for using BNB tokens. Irish traders can also apply for the Binance Visa card. This allows you to earn up to 8% BNB cash back on each eligible purchase.

Furthermore, there are no signup or annual fees for issuing the Binance Visa card. Watch out for third-party fees though – for more details, check the platform.

If you plan on performing technical analysis, you will find chart drawing tools as well as indicators on this platform. When it’s time to find your account, you can avoid fees by opting for a wire transfer. You can also choose to make a deposit with a credit or debit card, and this will cost you 1.8% of the transaction amount.

In terms of storage, you can choose the Binance web wallet which offers security features like IP address whitelisting and 2FA. Alternatively, you could choose the DeFi storage option – the Trust Wallet app. In this case, you will look after your own private key and secure your investments yourself. This is separate from the platform itself, albeit, it is backed by Binance.

What we like

Cryptoassets are a highly volatile unregulated investment product.

4. Coinbase – Top Crypto Trading Platform for Newbies

Coinbase is one of the best cryptocurrency exchanges in Ireland for beginners. The platform is really simple to use and opening an account is fairly simple. There are pros and cons of opting to trade cryptocurrencies at Coinbase.

The platform is available in Ireland and over a hundred other countries. It is also used by over 89 million people. You can buy, sell and convert crypto assets here using a range of methods. You could opt for your preferred credit or debit card, however, do note this comes with high fees.

Specifically, Coinbase charges a hefty 3.99% fee on all credit and debit card deposits. You can avoid this fee by funding your account using a SEPA transfer. Binance also charges a standard commission fee of 1.49%, which is uncompetitive compared with platforms like eToro, Crypto.com, and Capital.com.

Still, if you decide to create an account at Coinbase, you can get started by making a deposit of $50 or more. You can use the Coinbase wallet to store your purchased digital currencies if you want to take care of your own private key. Alternatively, opt for the Coinbase web wallet. In this case, 98% of your assets are stored safely in cold storage.

If you want to track how the markets are moving, you will have access to the advanced tools needed for technical analysis at Coinbase. This includes sophisticated price charts and a range of technical indicators.

If you were hoping to access cryptocurrencies on the go, you can also download the free mobile app. Furthermore, newbies might want to take part in the earn and learn program at Coinbase. There are various educational videos and quizzes. As you complete quizzes and other tasks, you will be rewarded with free cryptocurrencies.

What we like

Cryptoassets are a highly volatile unregulated investment product.

5. Kraken – Best Exchange to Access Margin Accounts

Kraken is one of the best crypto exchanges in Ireland for those looking for a margin account. You can magnify your crypto trades with leverage of up to 5x and can also go long or short on your chosen asset via futures.

By margin trading, you could potentially allocate just €200 and buy €1,000 worth of cryptocurrencies. As we mentioned earlier, apply leverage with caution. The commission fee here is between 0% and 0.26%, and the amount you pay will depend on how often you trade.

Naturally, high-volume traders will pay a lower commission. There are more than 65 digital currencies to trade at Kraken and various trading tools are on offer. We found this to include the Kraken Terminal, which is a charting and trading interface with customizable charts, live pricing feeds, and various order books.

After creating an account you’ll need to fund it. SEPA deposits are free of charge and wire transfers attract a fee of €10. If you buy cryptocurrencies using your debit card, you will pay a hefty fee of 3.75%, plus €0.25. The minimum transaction amount is €10 and there is also an Instant Buy fee to consider – which is 1.5%.

As such, this is not the most competitive exchange in Ireland in terms of fees. That said, if you opt to trade cryptocurrencies at Kraken, you might also consider downloading its app. With which you can buy, sell and store crypto assets on the move.

What We Like:

Cryptoassets are a highly volatile unregulated investment product.

The Best Irish Crypto Exchanges Compared

For a quick recap on all the above Irish crypto exchanges, see a comparison table below.

How to Choose the Best Cryptocurrency Exchange for You

Deciding on the best Irish Bitcoin exchange for you can be tricky.

See a list of considerations below to help clear the mist on the best crypto exchange in Ireland:

Regulation

When you’re researching the best crypto exchange in Ireland, you should check out the regulatory status of the platform.

For instance:

• eToro is watched over by a range of regulators, including CySEC, ASIC, FCA, and the SEC
• Crypto.com holds a license from the MFSA and AFSL
• Capital.com complies with the requirements of MiFID and is regulated by CySEC, ASIC, the FCA, and NBRB

When a crypto trading platform holds a license or complies with the requirements of regulatory bodies, this should give you peace of mind.

That is to say, the best crypto exchange in Ireland will follow strict regulatory guidelines, be transparent with fees, and offer a fair and professional service at all times.

Tradable Cryptos

When looking for the best crypto exchange in Ireland,  make sure you check which assets will be available to trade prior to creating an account.

This is because the number of available tokens can be very different depending on which platform you sign up with. For example, Kraken offers around 60 cryptocurrencies, whereas Capital.com lists over 470 markets.

Sign Up Offers

Keep an eye out for sign-up offers and referral bonuses when you’re making your mind up on the best Irish Bitcoin exchange.

For instance:

• eToro regularly runs promotions whereby if you recommend a friend you might be eligible for a promotion bonus. You could receive as much as $50 depending on the promotion at the time, so look out for that.
• Crypto.com offers multiple ways to earn rewards. As we said, this includes up to 14.5% interest per annum. We also found that Crypto.com offers $10 or $50 worth of CRO tokens depending on how much you stake when signing up.

Fees

It’s important to check out the fee table before signing up with an exchange to trade cryptocurrencies. The best crypto exchange in Ireland will keep trading fees down to a minimum.

For instance, eToro charges a mere 1% on each buy and sell order that you place. If you’re looking to trade crypto CFDs, at Capital.com, you won’t be charged any commission at all.

Tools & Features

What tools and features you require will depend on what kind of trader you are.

For instance:

• If you are somewhat technical in your approach to predicting market sentiment, you should select a platform with charts and indicators
• Alternatively, you might wish to take a hands-off approach to trading digital currencies
• In this case, eToro is the best crypto exchange in Ireland as you can diversify by investing in copy trading

Another option we touched on in our review of eToro was its smart portfolios tool. As we said, this enables you to add a selection of crypto tokens to your portfolio with a single investment.

Payment Methods

The best cryptocurrency exchanges in Ireland will support a multitude of payment methods to ensure making a deposit is easy.

For instance, eToro accepts everything from e-wallets, to credit/debit cards and wire transfers. Capital.com and Crypto.com also accept multiple payment methods.

Customer Service

When you’re looking for the best cryptocurrency exchange in Ireland, be sure to check out the customer support department. That is to say, platforms like eToro offer support in the shape of live chat, email, and a comprehensive FAQ section.

This is ideal because whenever you find yourself in need of some trading assistance, there are multiple options to choose from. Live chat is usually the fastest and most convenient.

How to Use a Crypto Exchange in Ireland

Once you’ve reviewed the best cryptocurrency exchanges in Ireland, you’ll need to create an account with your chosen provider.

If you’re not to crypto exchanges, follow the five steps outlined below to create an account at eToro.

By step five you’ll be in the position to buy cryptocurrencies today with low and transparent fees.

Step 1: Open an eToro Crypto Account 

Visit the eToro website and create a free account. When you see the registration form, you can enter your desired username and password, and email address.

After agreeing to the terms and conditions, you can quickly complete each stage of the sign-up process. This will include entering your address, full name, date of birth, phone number, and nationality. Once confirmed, you can move to step two.

Step 2: Upload ID

The best crypto exchanges in Ireland must ensure you complete the KYC process prior to trading digital currencies.

• As such, you can now upload some supporting documents to allow eToro to verify your identity
• This is really quick and easy – simply upload a copy of your passport or driver’s license
• Next, the platform will prompt you for proof of residency
• This can be a letter or bill showing your name, address, and an issue date within three months
• Examples include bank statements, utility bills, and tax letters

Check the eToro platform if you need further options as plenty of KYC documents are supported.

Step 3: Deposit Funds

Having confirmed your identity and created an account at eToro, you can add some funds to finance your crypto trading endeavors.

The minimum deposit is just $50 and there are plenty of options in terms of supported payment types.

This consists of wire transfers, credit and debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Sofort/Klarna, and online banking/Trustly. As we mentioned there is a small fee of 0.5% charged to swap euros for US dollars.

Step 4: Search for Cryptocurrencies

You will now need to decide which cryptocurrency to trade.

Here, we are searching for Ethereum Classic. As you can see, as we begin to enter the name of the digital asset into the eToro search bar, it appears in the list.

Enter your desired cryptocurrency in this search bar and click ‘Trade’ when you see it. This will take you to the final step of placing an order to buy digital assets on the best global crypto exchange in the space.

Step 5: Buy Cryptocurrencies

Placing an order at eToro is stress-free. After selecting your chosen cryptocurrency, you will be presented with a simple order form.

Check it’s the correct asset and enter your stake where it says ‘Amount’. You can allocate as little as $10 to crypto assets at eToro, which allows you to buy a fraction of your chosen token if you wish.

After confirming, eToro will add your tokens to your portfolio and you can cash out with ease at any time.

Are Crypto Exchanges Legal in Ireland?

Crypto exchanges are legal in Ireland. The Central Bank of Ireland has, however, issued several warnings regarding the risk of investing in highly speculative assets like digital currencies.

Many of the best crypto exchanges in Ireland are regulated under European regulations. That said, there is no EU protection on digital currency investments so conduct plenty of research and perhaps consider allocating small amounts if you are a beginner.

At eToro you can stake as little as $10 when buying crypto.

Conclusion

That brings us to the end of this guide on the best crypto exchanges in Ireland. The top-performing platforms will ensure you have a smooth experience when placing orders to buy cryptocurrencies.

Not only that, but you should also expect a wide variety of supported markets, useful features, and low fees. We discovered that eToro is the overall best cryptocurrency exchange in Ireland.

You will pay a low fee of 1% when trading digital currencies here. You will find over 60 cryptocurrencies at this exchange so creating a diverse portfolio is simple. The eToro platform accepts lots of payment methods and it is perfect for beginners.

Cryptoassets are a highly volatile unregulated investment product.

FAQs

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