The Czech Republic is relatively open to cryptocurrency trading as compared to many other countries. It does not hinder the development of crypto trading in the country but it also strictly regulates cryptocurrency exchanges and other virtual asset businesses under its AML/CFT regulations.
By and large though, the Czech Republic has a conducive environment which is why you can find so many Bitcoin exchanges operating in the Czech Republic. To help you learn more about this, we have compiled this list of the best Bitcoin exchanges in Czech Republic.
8 Best Cryptocurrency Exchanges in Czech Republic
Bitvavo
Bitvavo is one of the leading European cryptocurrency exchanges located in Amsterdam. It has 180+ digital assets for you to choose from including leading crypto coins such as Bitcoin, Ethereum, and Dogecoin.
One of the advantages of this exchange is its low trading fee which ranges from 0.03% to 0.25%. Bitvavo is perhaps the best place to buy crypto with Euro as it supports several European payment methods such as Sepa, SoFort and PayPal in the Czech Republic.
Bitvavo is a safe and reliable exchange as it has been approved by the DNB and complies with all AML regulations. Among its defining features, Bitvavo guarantees reimbursement of up to €100,000 in case the users suffer a loss of funds because their account was compromised.
Features
✔️European crypto trading exchange
✔️180+ cryptocurrencies available
✔️Charges maker and taker fees
Pros and Cons
✅Supports several payment ❌No derivatives trading
methods ❌KYC process can be lengthy
✅Good collection of coins
✅Intuitive mobile app
✅Facilitates direct Euro transfers
Trading Fees
Bitvavo trading fees
Customer Reviews
Bitvavo is an easy-to-use platform
Bitvavo does not have the best customer support
Why We Picked It
Bitvavo is a European exchange that is a perfect choice if you do not plan on doing anything more than buying some cryptocurrency. It has a decent variety of coins, complies with all AML/CFT regulations and offers good staking opportunities.
Binance
Binance is the largest and one of the finest exchanges for trading cryptocurrency. Here, you can buy, sell and trade 350+ cryptocurrencies for fees as low as 0.1%. Besides simple spot trading, Binance also supports margin and derivatives trading, P2P trading, and swap farming and also offers OTC services. Binance also has a native token BNB which can be used to get further discounts on trading fees.
With Binance Earn, you can earn passive income on your crypto assets that would otherwise be lying idle. The exchange also has trading bots that enable you to trade like a pro. You can use them to automate your trades and investments as well as replicate the trading strategies of other users.
Binance also offers premium solutions for institutions. It provides them with asset management and custody services and rebates on spot and futures markets trades. You can also get loans secured by your crypto assets on Binance. It also has an NFT marketplace where you can explore IGOs and fan tokens and check out popular NFT collections.
Features
✔️Over 350 cryptocurrencies available for trading
✔️Biggest cryptocurrency exchange in the world
✔️BNB Coin is the native utility token
✔️Supports spot, margin and futures trading
Pros and Cons
✅Fantastic crypto collection ❌Legal problems in many places
✅Quick transactions ❌Exchange unsuitable for beginners
✅Trades are not costly
✅Trading bots for automated
trading
Trading Fees
Trading fees for Binance
Customer Reviews
Binance is a good platform for crypto transactions
Binance’s customer support should be more responsive
Why We Picked It
Binance offers a wide variety of products for both individual and institutional investors. Crypto trades are inexpensive here, you use BNB to get discounts on fees and access many crypto-earning services. P2P trading is also supported on Binance and it has an NFT marketplace as well.
Coinbase
Coinbase is also a famous international cryptocurrency exchange and a simpler alternative to Binance. The exchange is known for its minimalist approach to crypto trading. All you have to do is register on the platform, verify your KYC and click on the “Buy/Sell” button. Yup, that’s it. Even if you have never bought Bitcoin before, you don’t need to worry as Coinbase offers tutorials explaining every step in the process.
You not only get to trade 250+ assets here but can also stake your crypto assets to earn income on them. If you want to learn more about crypto trading in general, Coinbase’s Learn section is the place you should go to. It will help you in increasing your knowledge about cryptocurrency and blockchain technology. Plus, you can earn rewards for successfully completing courses and quizzes.
Apart from that, Coinbase also offers dedicated consultancy services for institutional investors.
Features
✔️Over 250 assets available for trading
✔️Second-biggest crypto exchange
✔️Basic and pro versions are available
✔️Consultancy services for institutional investors
Pros and Cons
✅Public listed company ❌Trades on Basic version are expensive
✅KYC is mandatory ❌Bad customer support
✅Low fees on Coinbase Pro
✅Tutorials and educational
resources
Trading Fees
Trading fees for Coinbase
Customer Reviews
Coinbase is an excellent exchange for crypto transactions
The verification process on Coinbase can be lengthy and tedious
Why We Picked It
Coinbase is transparent and simply an overall reliable platform. Its user interface is straightforward and user-friendly, the mobile app works well and comes with all the functionalities of the web version. You can get access to more advanced tools with Coinbase Pro.
Crypto.com
Singapore-based Crypto.com is a famous cryptocurrency exchange for app-based trading. It is a platform committed to developing mobile app-based crypto trading. Crypto.com offers users more than 250 cryptocurrencies for trading including over 500 pairs for margin trading.
Derivatives trading is also available here and crypto staking is also supported on Crypto.com. By staking Cronos(CRO) which is the exchange’s native coin, you can also avail discounts on trading fees. With Crypto.com’s referral program, you can get rewards for referring your friends to Crypto.com. Further, the platform uses cold wallets for storing users’ crypto assets and secures every account with multi-factor authentication.
Features
✔️250+ cryptocurrencies available for trading
✔️Native coin is called Cronos(CRO)
✔️Crypto loans are available
✔️Native wallet for storing crypto
Pros and Cons
✅Decent crypto collection ❌Unsatisfactory learning resources
✅Good APYs on asset staking ❌Not suitable for new traders
✅Uses cold storage for assets
✅Referral program for users
Trading Fees
Fees for Crypto.com exchange
Customer Reviews
The Crypto.com app is a good option for trading cryptocurrency
Withdrawals can become a problem on Crypto.com
Why We Picked It
The Crypto.com app has several features and services that are worth checking out once. You can stake cryptocurrencies stablecoins and CRO here. By staking CRO, you get discounts on trading fees. There is also a referral program wherein you get rewarded for referring your friends to Crypto.com.
Kraken
Kraken is one of the oldest crypto trading platforms that started operations more than a decade ago with just Bitcoin, Litecoin, and Euro trades. It has grown a lot since then and now offers over 200 cryptocurrencies for trading.
Kraken further has crypto indices, OTC services and many lucrative options for staking. The exchange supports both flexible and bonded products and you can always find something that suits your investment goals.
Kraken is a platform that is transparent about its reserves and has even published the Proof-of-Reserves report on its website. You can always access and verify the results if you wish to do so. You can also contribute towards making Kraken a safer platform by reporting vulnerabilities in the exchange via its Bug Bounty program and getting rewarded for the same.
Features
✔️200+ cryptocurrencies for trading
✔️Basic and Pro platforms available
✔️Dynamic rates on the basic version
✔️Runs an active bug bounty program
Pros and Cons
✅Highly liquid exchange ❌Trading on basic version can be
✅Crypto indices available expensive
✅Excellent learning material ❌Reports of compromised accounts
✅Opportunities for staking assets
Trading Fees
Kraken Instant Buy fees explained
Trading fees for Kraken Pro
Customer Reviews
Kraken is a fine exchange for crypto traders
Reports of accounts being closed on Kraken
Why We Picked It
It doesn’t matter if you’re just starting out or have been trading cryptocurrency for years, you will find something of use on Kraken. Here, you can invest in crypto indices or check out OTC services if you want to go beyond regular spot trading. Its high liquidity gives you a smooth trading experience.
eToro
eToro is not a proper cryptocurrency exchange but more of a platform for social trading and investment that also supports some cryptocurrencies. Therefore, the cryptocurrencies available here are less in number than other crypto exchanges but it makes up for that with a wide variety of other asset classes. You can, hence, trade different types of assets such as stocks too on eToro.
When it comes to security, eToro follows the highest possible standards. A combination of hot and cold wallets is used here for storing funds. eToro also uses encryption and masking technologies to protect users’ personal and financial information. It is one of the most secure platforms as it is heavily regulated by the relevant authorities in many countries such as Australia and the USA.
Features
✔️Mainly a social trading and investment platform
✔️75+ cryptocurrencies available for trading
✔️Has crypto, ETFs and stocks
✔️Five-level VIP club for users
Pros and Cons
✅Allows copy trading ❌Fewer cryptocurrencies are available
✅Properly regulated platform ❌Charges fees on inactive accounts
✅No charges for card deposits
✅Demo trading is supported
Trading Fees
Trading fees for the eToro platform
Wallet fees for eToro
Customer Reviews
Several asset classes are available on eToro
Some users are unsatisfied with eToro’s customer service
Why We Picked It
eToro features a wide variety of assets and not just cryptocurrencies. You can diversify your portfolio and keep your several investments in one place by using eToro. You will not find eToro’s social trading experience anywhere else.
Bybit
Bybit is a famous cryptocurrency exchange that is a regular on CoinMarketCap’s list of top crypto exchanges. Although it is mainly an exchange for derivatives trading, spot traders will also find Bybit to be plenty useful.
Bybit is an exchange where you can use USDC and USDT as collateral while swapping perpetuals. USDT is also used as collateral for inverse and options contracts here. You don’t need to learn complex trading strategies and can use the copy trading feature to copy the strategies of top traders.
Bybit analyzes your profile with AI’s assistance and then gives recommendations for investment tools. It also has its own crypto wallet that enables you to dive into the world of DApps and Web3.
Features
✔️Chiefly for derivatives trading
✔️280+ spot pairs for trading
✔️Has the largest USDC Options Marketplace
✔️Native Bybit wallet available
Pros and Cons
✅Simple to use exchange ❌Not very suitable for spot trading
✅Trades are not costly ❌Trading stats are not verified
✅Supports many order types
✅Demo trading feature
Trading Fees
Bybit trading fees categorization
Customer Reviews
Bybit is a great platform for trading crypto
User accounts are locked on Bybit
Why We Picked It
Bybit is an excellent choice particularly for derivatives traders. Its user interface is very smooth and it has high transaction settlement speeds. The crypto selection is adequate and you can dive into the Web3 world with the Bybit wallet.
OKX
OKX is a Seychelles-based crypto trading platform that rather than an exchange is a whole crypto ecosystem. This platform is powered by its native blockchain called OKX Chain and its native token known as OKB. OKX is particularly popular among crypto traders for its fast transactions, low trading fees and strong APIs.
Along with spot, margin and options trading, perpetual swaps are also available on OKX. Crypto loans are available here and crypto mining is also supported on OKX. The platform’s OKX Wallet is compatible with 40+ networks and you can use it to explore DeFi apps.
Features
✔️400+ cryptocurrencies for trading
✔️Native token OKB and native OKX Chain
✔️40+ networks compatible with OKX Wallet
✔️Jumpstart Mining for DeFi token farming
Pros and Cons
✅Fees are on the lower side ❌Covoluted fee structure
✅Multiple payment options ❌Poor customer service reviews
supported
✅Educational material available
✅Supports demo trading
Trading Fees
OKX trading fees breakdown
Customer Reviews
OKX is a user-friendly platform that is easy to use
OKX’s customer service can be better
Why We Picked It
OKX is an easy to navigate exchange that also supports a variety of trading options. The platform has a demo trading feature where you can test your trading strategies. Here, You can also explore DApps, try crypto mining or farm DeFi tokens.
3 Top P2P Exchanges in the Czech Republic
Paxful
Paxful is one of the most famous P2P exchanges with people preferring it to negotiate and trade directly with other crypto buyers and sellers. This exchange supports over 350 payment options including debit cards, credit cards, PayPal, online wallets or even cash.
There are no fees for buying cryptocurrency on Paxful. However, it does charge a selling fee depending on the type of payment method used.
On Paxful, sellers have the advantage that they can set their own rates for Bitcoin. The platform also offers Paxful Pay for businesses. It charges a transaction fee of 1% and enables businesses to accept crypto payments from a global user base. Paxful also rewards users for inviting their friends to the platform via its referral program.
Features
✔️Over 350 payment methods available
✔️Purchases and sales with BTC and USDT
✔️Escrow trading possible
✔️Paxful wallet for storing BTC
Pros and Cons
✅Multiple payment options ❌Sales fees are high
✅Supports biometric verification ❌Possibility of scams
✅Referral program with rewards
✅No fees
Trading Fees
Fees for Paxful
Customer Reviews
Convenience is a major advantage of Paxful
There is a possibility of scams on Paxful
Why We Picked It
On Paxful, crypto buyers and sellers can directly interact with each other. It does not take any fees for buy orders and supports escrow trading as well. There is also an active rewards program for users.
Bisq
Bisq is perhaps the most decentralized P2P cryptocurrency exchange. This is because it is not even a website but an open-source desktop software. You need to download and install this application on your computer for trading on the platform. Bisq is a self-sustaining and censorship-resistant platform that is majorly run by the community as a decentralized autonomous organization(DAO).
Bisq doesn’t need any sort of registration or your personal information to verify your identity. You just need a crypto wallet, preferably with BTC and BSQ and you are ready to trade on Bisq. Since this is a non-custodial exchange, you retain the custody of your private keys and funds.
Features
✔️Free desktop application
✔️Exchange is run as a DAO
✔️Native token is known as BSQ
✔️Deposits kept in multisig wallets
Pros and Cons
✅Completely decentralized ❌Not suitable for beginner traders
platform ❌BTC or BSQ are needed for trading
✅User custody over funds
✅No geographical limitations
✅Central failure not possible
Trading Fees
Fees for Bisq
Customer Reviews
Bisq is a completely decentralized exchange
Bisq’s interface needs to be updated
Why We Picked It
Bisq is a hands-off platform that gives you the freedom to trade as you want to. It is a self-sustainable and community-driven exchange. You maintain custody over your private keys here and there is no possibility of a central failure since its servers are geographically scattered.
UniSwap
If we are talking about decentralized exchanges, we have to mention UniSwap. After all, this platform, developed on Ethereum, is one of the most famous Automated Market Maker(AMM) platforms.
AMM is a type of protocol wherein smart contracts are used to automate the process of providing liquidity on a DeFi platform. It is done by employing smart contracts where everything about the process of providing liquidity, the formation of liquidity pools and the standard method of swapping assets is detailed.
UniSwap is famous in large part due to its accessibility. It is quite a simple and navigable platform as far as decentralized exchanges go. Additionally, as it is based on Ethereum, traders on UniSwap can get access to a huge amount of ERC-20 tokens for swapping.
Hence, all you need is a crypto wallet such as Metamask or Trust Wallet to trade any ERC-20 token on UniSwap.The fees largely depend on the nature of the pair you’re planning to swap. Therefore, your transaction may fall into any of the four tiers for pool fees based on whether the pair being swapped is a ‘stable’ one or an ‘exotic’ pair.
Features
✔️Developed on the Ethereum blockchain
✔️Uses AMM protocol
✔️Four tiers for pool fees
✔️Native token is called UNI
Pros and Cons
✅Access to ERC-20 tokens ❌No verification of coins before listing
✅Maintains privacy and anonymity
✅User-friendly exchange
✅Has a bug bounty program
Trading Fees
UniSwap fees explained
Customer Reviews
UniSwap is an easy-to-use decentralized platform
UniSwap does not have proper customer support
Why We Picked It
UniSwap is a DeFi platform popular among decentralized crypto trading enthusiasts. This exchange is very accessible and can be used with most mainstream crypto wallets. Here, you can get access to a variety of ERC-20 tokens for swapping. You don’t have to worry about your private information being compromised as UniSwap does not ask for it in the first place.
Is Crypto Trading Legal in Czech Republic?
There are no specific financial service regulations for crypto assets in the Czech Republic. Cryptocurrencies are not considered money and are, therefore, not an official mode of payment in the country.
The Czech National Bank(CNB) has largely adopted a neutral position regarding cryptocurrencies. It neither encourages nor promotes their use but does not hinder their development either.
As a member of the European Union(EU), the Czech Republic has to comply with the Fifth Anti-Money Laundering Directive(AMLD5) to regulate cryptocurrency exchanges and wallets. Therefore, the Czech AML Act was amended to provide for the regulation of persons providing virtual asset services.
Therefore, every virtual asset service provider in the Czech Republic is obligated to comply with the AML/CFT requirements of the country. They also have to follow rules and do due diligence to establish the identity of users and report any suspicious activities.
Conclusion
There are a variety of cryptocurrency exchanges operating in the Czech Republic. While the country does not have any official framework for crypto assets, it strictly regulates crypto asset service providers under its AML law. Therefore, you can rest assured that crypto exchanges in the Czech Republic have to adhere to certain reporting and transparency standards.
However, despite all this, crypto trading in itself is a risky and highly speculative venture. It is, hence, prudent to research thoroughly and analyze your investment goals to decide whether cryptocurrencies are the right choice for you or not.