The island nation of Malta is one of the hottest crypto destinations. It has been at the forefront of the blockchain revolution and has formally recognized cryptocurrency and regulates it like any other financial service sector. Malta was, in fact, one of the first places to establish a proper regulatory framework for cryptocurrencies.
This openness to cryptocurrency and blockchain technology has helped Malta in developing several notable initiatives such as a blockchain-based IP register. The tax regime in the country is also quite favorable for both cryptocurrency exchanges and tax-payers.
This is one of the major reasons why many Bitcoin exchanges have preferred Malta as their preferred destination for establishing operations. No wonder then that there are so many crypto exchanges in Malta giving plenty of choice to traders.
To help you learn more about this, we have compiled this list of the best crypto exchanges in Malta.
Top 7 Cryptocurrency Exchanges in Malta
Coinbase
Coinbase is a famous international cryptocurrency exchange that also operates in Malta. It is a platform with a minimalist approach towards crypto trading. To trade on Coinbase, you just need to register an account and verify your KYC. Even if you’re completely new to crypto trading, there is no need to worry as Coinbase helps and provides tutorials for every step.
Here, you can buy, sell, trade and hold over 250 crypto assets. There are also staking services available on Coinbase enabling you to earn passive income. With Coinbase’s Learn section, you can expand your knowledge and learn more about crypto trading. You can also earn various crypto rewards by completing courses and quizzes.
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 excellent for crypto transactions
Verification on Coinbase can take a lot of time
Why We Picked It
Coinbase is a simple, reliable and minimalistic platform. It has a straightforward UI, a great mobile app and comprehensive educational material. If you want something more sophisticated, you can check out Coinbase Pro which has more advanced tools.
Kraken
Kraken, founded over a decade ago today is one of the oldest cryptocurrency exchanges in the world. It also has the distinction of being the first crypto company that has been approved as a Special-Purpose Depository Institution(SPDI) in America.
On Kraken, you can explore a collection of more than 200 cryptocurrencies. Along with several good staking opportunities, it also has a plethora of learning material including a blog, a podcast and guides for individual cryptocurrencies.
There are different fees on Kraken’s basic and pro versions. Kraken Instant Buy takes into consideration factors like payment method and order size while Kraken Pro simply follows the maker-taker system.
Kraken assures a safe user experience by using 2-factor authentication(2FA) and also employs SSL encryption for secure browsing. It also employs encrypted email for communication and does not support phone number or SMS recovery for safety reasons. The Proof of Reserve audits are conducted by external auditors for an added layer of transparency.
Features
✔️Over 200 cryptocurrencies available
✔️Has a Pro version with advanced features
✔️Proof of Reserves audit conducted
✔️Uses 2FA and SSL encryption for security
Pros and Cons
✅Lower fee on Pro version ❌Has been previously hacked
✅High liquidity ❌High fees on basic version
✅Supports stop orders and ❌Not for amateur traders
crypto short sales
✅Multifaceted educational material
Trading Fees
Kraken Instant Buy fee
Kraken Pro fee
Customer Reviews
Kraken offers users good customer service
Accounts are often randomly closed on Kraken
Why We Picked It
All kinds of crypto traders can find something of use on Kraken. It is an old and established exchange that assures users of a good and safe trading experience. The crypto collection here is decent and there are several fiat currencies and staking opportunities available.
Bybit
Bybit may be younger in comparison to some other exchanges on this list but is no less than them in catering to traders. Its innovative features and attractive offers have helped it build a decent user base and Bybit, therefore, is often counted among the top 10 cryptocurrency exchanges.
Known mainly for derivatives trading, Bybit also supports spot and margin trades. It accepts debit cards, credit cards and bank transfers for buying any cryptocurrency using its One-Click Buy feature.
The platform also offers a physical Bybit card that can be used to make merchant payments straight from your crypto balance. There is a P2P trading platform too where you can negotiate directly and freely with other traders.
Features
✔️Primarily a derivatives trading exchange
✔️280+ pairs available for spot trading
✔️Supports debit and credit cards and bank transfer
✔️Has a P2P trading platform
Pros and Cons
✅User-friendly interface ❌Derivatives trading can be a risky
✅Multi-lingual platform venture
✅Demo trading mode
✅Bybit card for payments
Trading Fees
Bybit trading fees
Customer Reviews
Bybit’s user interface is excellent
Users have reported bad experiences with Bybit
Why We Picked It
Bybit offers many advanced tools and products while remaining accessible to beginner traders. It has pretty low fees for all types of trades and you can get many other perks and benefits with the VIP program. You can use your card or a bank transfer to buy crypto on Bybit.
Crypto.com
If you like mobile app-based trading, you should definitely check out Crypto.com. This Singapore-based platform is committed to developing mobile app-based crypto trading and offers users more than 250 cryptocurrencies for trading including over 500 pairs for margin trading.
Apart from spot trading, you can conduct derivatives trades and also stake assets on Crypto.com. If you stake Cronos(CRO) aka the exchange’s native coin, you can avail discounts on trading fees. There is also an active referral program here where you can earn rewards by referring your friends to Crypto.com.
The exchange keeps users’ crypto assets in cold storage 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
Users can effortlessly trade crypto on the Crypto.com app
Crypto.com has had issues with withdrawals
Why We Picked It
Crypto.com is worth checking out for people who use their mobile phones for everything including trading. You can trade all types of cryptocurrencies including stablecoins and gaming tokens here. You also get additional discounts for staking CRO and rewards for referring your friends to Crypto.com.
OKX
OKX is much more than a regular cryptocurrency exchange. It is a complete crypto ecosystem in itself with a native blockchain, wallet and token. With a collection of 400+ tradable assets, you are definitely spoilt for choice on OKX.
OKX has an intuitive design and is a pretty user-friendly platform where you can effortlessly buy cryptocurrencies. Further, you can customize the layout to suit your needs on the exchange’s pro version. Spot, margin and derivatives trading are supported on OKX and you can also stake assets in mining pools to earn rewards.
For security reasons, OKX keeps the majority of the user assets in cold storage which is disconnected from the internet. Beyond that, it does not keep more than 1,000 BTC in one cold wallet address. The exchange also maintains an asset risk reserve fund and uses 2FA, mobile verification and anti-phishing code for securing user accounts.
Features
✔️350+ cryptocurrencies available for trading
✔️Native blockchain and wallet
✔️Native coin is OKB
✔️Cold wallets, 2FA and mobile verification for security
Pros and Cons
✅Supports many payment ❌Fee structure is complicated
methods ❌Slightly lower liquidity
✅Low fees for trading
✅Earning opportunities
✅Supports demo available
Trading Fees
OKX trading fees breakdown
Customer Reviews
Crypto trading is seamless on OKX
OKX has poor customer service
Why We Picked It
Buying and selling cryptocurrency is very easy on OKX. Trading fees are competitive here and you can get good APYs by staking assets. You can also use the native OKX wallet to explore DApps on the platform. The layout of the advanced platform can be customized according to your needs.
KuCoin
KuCoin has an unparalleled crypto collection that is bound to raise your interest. With over 700 cryptocurrencies, there is a lot to check out here. There is a large crypto variety, low trading fees and several other crypto-related products that make KuCoin an excellent platform.
Along with spot trading, KuCoin supports margin and derivatives trades. Crypto lending is also available here and you can either lend your crypto assets or avail of crypto loans. KuCoin Earn enables you to invest in a variety of products while the NFT marketplace lets you buy, sell and swap NFTs.
KuCoin has several levels and classes which further have multiple different criteria on the basis of which trading fees are charged.
Further, you can get up to 20% commission by inviting your friends to KuCoin. The platform utilizes multisig technology for safely storing assets. Encryption is used for data during transit, storage and use and alerts are issued to users if suspicious account activity is detected.
Features
✔️700+ available cryptocurrencies for trading
✔️Supports multiple languages
✔️Native token is known as KuCoin Token(KCS)
✔️Encryption and multisig technology for security
Pros and Cons
✅Massive crypto collection ❌Fee structure is complex
✅Fees are on the lower side ❌Coins are not strictly vetted
✅Referral program for users
✅Has an NFT marketplace
Trading Fees
KuCoin cryptocurrency exchange fee levels
Customer Reviews
Users like KuCoin for its crypto collection
KuCoin has bad customer service
Why We Picked It
KuCoin is a great place if you like exploring and finding new cryptocurrencies. Here, you can earn passive income with KuCoin Earn and use trading bots for automating your trades. There is also an NFT marketplace here where you can dive into the NFT world.
eToro
eToro is not what we would call a cryptocurrency exchange in the strict sense of the term. It is, in large part, a platform for social trading and investment that also supports cryptocurrencies. Therefore, while its crypto collection is smaller than other options on this list, it gives the advantage of being able to maintain your entire investment portfolio on a single platform.
eToro is a very secure platform that is heavily regulated in several countries including the USA, Canada, and Cyprus. It uses both hot and cold wallets though the majority of the user assets are kept in cold storage. On eToro, personal and financial information is secured with the help of encryption and masking technology.
Features
✔️Platform for social trading and investment
✔️More than 75 cryptocurrencies available for trading
✔️Supports trading in crypto, stocks and ETFs
✔️Runs VIP program for users
Pros and Cons
✅Copy trading supported ❌Lesser cryptocurrencies available
✅Heavily regulated ❌Inactive account charges
✅Free card deposits
✅Demo trading available
Trading Fees
Trading fees for the eToro platform
Wallet fees for eToro
Customer Reviews
Users can find many asset types on eToro
Users have reported negative experiences with eToro’s customer service
Why We Picked It
eToro supports not just cryptocurrency but many other asset types as well. This will help you expand and diversify your investment portfolio. eToro also gives you a unique social trading experience that might be difficult to find elsewhere.
Top 3 Decentralized Exchanges in Malta
UniSwap
There are crypto traders who prefer trading on platforms that do not require any sort of identifying information. Decentralized exchanges such as UniSwap are perfect for such traders. It is an Ethereum-based DeFi project and a rather famous platform for swapping ERC-20 tokens.
Platforms like UniSwap rely on smart contracts to eliminate the role of intermediaries. These smart contracts contain details about every aspect of running the platform such as the standard procedure for forming liquidity pools, providing liquidity and compensating liquidity providers.
This system called Automated Market Maker(AMM) helps UniSwap prevent price manipulation to a great degree.
While decentralized exchanges are mostly not beginner-friendly, UniSwap is considered to be accessible and easy to navigate crypto exchange. This is a big reason for its popularity.
Features
✔️Created on the Ethereum network
✔️Employs AMM system
✔️Three-tiered pool fees system
✔️UNI is the native token
Pros and Cons
✅ERC-20 token swapping ❌Coins are not vetted before listing
✅Trading with privacy
✅Accessible exchange
✅Community governance
Trading Fees
UniSwap fees explained
Customer Reviews
UniSwap is a pretty decent decentralized cryptocurrency exchange
There is no official customer support for UniSwap
Why We Picked It
UniSwap is popular, accessible and an overall great place to swap ERC-20 tokens. It is compatible with major crypto wallets and eliminates intermediaries by using AMM. You can easily maintain your privacy on UniSwap since you never have to give out your personal information.
PancakeSwap
PancakeSwap is also famous among DeFi platform enthusiasts. While it is a ‘swap’ exchange like UniSwap, there are several differences including the underlying blockchain that differentiates the two. UniSwap runs on the more mainstream Ethereum while PancakeSwap was developed on the BNB Chain.
With BNB Chain, PancakeSwap has the advantage of fewer instances of network congestion and lower gas fees. Therefore, traders here rarely have to deal with issues like expensive gas fees.
PancakeSwap’s native token is known as CAKE and is used in the governance of the platform. It promotes democratic governance by enabling users who hold CAKE to vote on proposals which are then implemented on the platform only after their approval.
By implementing its v3, PancakeSwap has introduced four tiers for charging trading fees. The fees have, however, on average, come down as compared to PancakeSwap v2. It also offers the StableSwap feature available which has more efficiency and lower slippage for swapping stable pairs.
Features
✔️Created on the BNB Chain
✔️Four-tiered fees system
✔️Native token is known as CAKE
✔️Platform governed by CAKE holders
Pros and Cons
✅No KYC needed ❌Bitcoin not available
✅BEP-20 token swapping ❌Problem of phishing and other scams
✅No issue of gas fees
✅Staking with yield farms and
syrup pool
Trading Fees
PancakeSwap trading fees
Customer Reviews
PancakeSwap is a decent platform for swapping tokens
PancakeSwap has plenty of low-quality coins
Why We Picked It
There is no need for registration on PancakeSwap. All you need is a crypto wallet, some balance in it and you are good to go. PancakeSwap has several crypto-related products such as lottery programs and yield farms that you can check out. If you’re a CAKE holder, you can also vote on governance proposals on the platform.
Balancer
Balancer is another decentralized exchange developed on Ethereum that offers some great investment options. It has an open architecture that enables users to create pools of various types with functionalities that suit their specific needs. Pool creators are also allowed to set the pool fees themselves.
With Balancer’s Smart Order Router(SOR), you can find the optimum price for your token pairs. It uses the Automated Market Maker(AMM) system with which it can operate in a permissionless manner. Balancer can be used with any mainstream crypto wallet like Metamask or Trust Wallet.
Features
✔️Built on the Ethereum blockchain
✔️Employs AMM system
✔️Creators can customize liquidity pools
✔️Native token is BAL token
Pros and Cons
✅Automated portfolio manager ❌Negligible educational resources
✅Public and private pools available ❌Impermanent loss
✅Smart Order Router for optimum
pricing
✅Multi-token pools
Trading Fees
Balancer decentralized exchange trading fees
Why We Picked It
Balancer has differentiated itself from its contemporaries with its multi-token pools. It has high interest rates which attracts traders and programmable pools that are a great option for people looking to diversify their portfolios. If you have some prior crypto experience and an appetite for risk, you should check out Balancer once.
Is Crypto Trading Legal in Malta?
Malta is one of the leading countries for blockchain and cryptocurrency development and regulation in Southern Europe. It was one of the first countries in the European Union(EU) to establish a regulatory framework for crypto assets.
Malta passed three laws in 2018 to develop Malta as a cryptocurrency innovation hub. The Malta Digital Innovation Authority(MDIA) Act established the Malta Digital Innovation Authority(MDIA) to promote public policies for technological innovations and transparency in the use of innovative technologies.
The Innovative Technology Arrangements and Services(ITAS) Act contains criteria for the registration and guidelines for the conduct of innovative technology service providers. Meanwhile, the Virtual Financial Assets(VFA) Act regulates initial coin offerings(ICOs) and digital assets. The VFA Act categorizes digital assets into four types- virtual tokens, electronic money, financial instruments and VFAs.
As the crypto industry is considered a part of the financial service sector, it is regulated by the Malta Financial Services Authority(MFSA) like other financial services.
On the taxation front, Malta has 70+ international double taxation agreements which makes it an attractive destination for crypto service providers. Further, electronic money and utility tokens are not considered capital assets and are hence, exempt from capital gains tax. Securities and VFAs, however, come under capital assets and capital gains tax has to be paid on them.
Conclusion
There are several cryptocurrency exchanges operating in Malta and offering their services to traders. All such platforms have to be registered and are regulated by the MFSA ensuring that people can safely trade cryptocurrencies. The tax regime in Malta is also quite liberal making it easy for traders to make the most of their crypto assets.
However, despite the regulations in place, cryptocurrency in itself is a volatile asset. Crypto speculations can bring huge profits but they can also lead to huge losses. Hence, any investment in crypto assets needs to be done cautiously and after proper research.