Crypto trading these days is incomplete without cryptocurrency exchanges. Though peer-to-peer(P2P) trading still thrives, most people prefer the convenience and accessibility provided by cryptocurrency exchanges. In Poland too, crypto trading activities have taken root.
Since 2021, cryptocurrency trading is a regulated activity in Poland and any business providing virtual asset services needs to be registered. Further, you also need to disclose income from your crypto activities while filing income tax.
In Poland, there are many crypto exchanges catering to different demographics of traders. You can explore and choose any platform that you feel is suitable for your needs and goals. Therefore, we bring to you this list of some of the most prominent crypto exchanges in Poland.
However, it should be remembered that this information is purely for informational purposes. You should always get financial advice including regarding cryptocurrency investments from a qualified professional.
Top 8 Cryptocurrency Exchanges in Poland
The bulk of crypto trading takes place on centralized cryptocurrency exchanges. This is because these platforms are more familiar and accessible for the layman trader. These platforms also make it easy for the average person to get any crypto coin they want. Convenience is a major factor in the popularity of centralized exchanges.
Here is a list of some major centralized cryptocurrency exchanges in Poland.
Binance
Binance is the biggest cryptocurrency exchange in the world and offers endless possibilities for traders. From simple crypto buy/sell transactions to P2P trading, you can always find something for everyone on Binance.
Further, trading on Binance is quite economical as trading fees here are almost always below 0.10%. You can also avail discounts on the same by using its native BNB coin for payments.
For shoppers, Binance has a physical card powered by Visa that can be used for paying merchants with your crypto balance. Plus, you get 8% BNB cashback on eligible transactions which makes it a sweeter deal. Business owners can also use Binance Pay to receive crypto payments.
Features
✔️Largest cryptocurrency exchange in the world
✔️Over 350 cryptocurrencies available
✔️Supports crypto lending
✔️Native coin is known as BNB Coin
Pros and Cons
✅Massive crypto collection ❌Not very good for beginners
✅Low trading fees ❌Past incidents of security breach
✅Binance card with cashback
✅NFT marketplace available
Trading Fees
Trading fees for Binance
Customer Reviews
The Visa card offered by Binance is popular among users
Binance can be complicated to figure out
Why We Picked It
Binance is full of interesting features and is, therefore, an excellent choice for traders who have prior experience in crypto trading. There are lots of cryptocurrencies available and several trades including P2P trading are supported here. If you are an NFT enthusiast, you can check out IGOs and fan tokens on the NFT marketplace.
Coinbase
Coinbase is one of the oldest and largest exchanges in the world. It is a simple platform and is also the first major crypto firm to be listed on the NASDAQ. This exchange’s straightforward and intuitive UI makes it a good option for new and inexperienced crypto traders.
There are over 250 cryptocurrencies available on this platform which can be traded easily both on the web version and the mobile app. The Coinbase mobile app is a solid option for checking your portfolio and crypto prices from anywhere in the world.
For expert traders, Coinbase has a specialized Coinbase Pro platform with advanced tools for charting, market tracking and portfolio management.
Features
✔️Secong-largest cryptocurrency exchange in the world
✔️Over 250 tradable assets available
✔️Basic and Pro platforms
✔️Assets are kept in cold storage
Pros and Cons
✅Decent crypto selection ❌Higher fees on basic version
✅Ensures financial transparency ❌Customer service is not good
✅User-friendly platform
✅Compulsory 2FA for account security
Trading Fees
Trading fees for Coinbase
Customer Reviews
Coinbase is a secure platform for trading cryptocurrency
Fees for trading can be very high on Coinbase
Why We Picked It
Coinbase is a trusted cryptocurrency exchange and is the first major crypto firm to be listed on NASDAQ. It is, therefore, obligated to adhere to certain standards for transparency and accountability. While Coinbase may not be the cheapest exchange in terms of fees, it is reliable, and beginner-friendly with a decent crypto collection and with the requisite security measures in place.
Kraken
Kraken is an old exchange too and has specialized platforms catering to different demographics of crypto traders. There is a basic version which is for newbie traders while the Pro platform is meant to be used by expert traders. Among other things, a major difference manifests between the two versions in terms of trading fees.
Kraken Instant Buy, for example, depends on dynamic factors such as order size, payment method, asset type and market conditions to determine the final trading fees. On the other hand, Kraken Pro simply uses the maker-taker system for charging fees.
In addition to spot trading, you can also conduct margin and futures trades on Kraken. It also supports investment in crypto indices and provides personalized OTC services to users. You get a seamless trading experience on Kraken because of its high liquidity and relatively lower spreads.
Features
✔️200+ cryptocurrencies available
✔️Two versions- basic and pro
✔️Uses KYC, 2FA and GSL for security
✔️Proof-of-reserves are available on website
Pros and Cons
✅Satisfactory crypto collection ❌Higher fees on basic platform
✅Several trading types supported
✅Comprehensive learning material
✅Less fees on Kraken Pro
Trading Fees
Trading fees for Kraken Instant Buy
Trading fees for Kraken Pro
Customer Reviews
Kraken is a fantastic exchange with good customer support
User accounts have been locked on Kraken
Why We Picked It
Kraken is a good platform once you get familiarized with the layout of the exchange. It supports several types of trades and also offers crypto indices for investment and personalized OTC services. There is a treasure trove of educational material regarding cryptocurrency available on Kraken.
Crypto.com
Crypto.com is one of the top cryptocurrency trading platforms with roughly 80 million users as of 2023. It is an exchange compatible with the smartphone era as it focuses primarily on app-based trading.
Here, you can trade more than 250 cryptocurrencies including the Cronos(CRO) token. For margin trading, over 500 pairs are available and some with up to 5x leverage. Crypto.com also supports derivatives trading and you can further check out 100+ perpetuals, quarterly futures and warrant contracts.
There is an active referral program on Crypto.com where you can get rewards for inviting your friends to the exchange. It is an ISO 27001-certified platform that uses cold storage and multi-factor authentication(MFA) for security.
Features
✔️Over 250 cryptocurrencies available
✔️Native coin is known as Cronos(CRO)
✔️Crypto lending is supported
✔️Native crypto wallet
Pros and Cons
✅Great coin selection ❌Sparse educational resources
✅Over 20 assets for staking ❌Not a very good choice for beginners
✅Uses cold storage for assets
✅Referral program for users
Trading Fees
Trading fees for Crypto.com
Customer Reviews
The Crypto.com app is great for crypto trading
Users have had problems with withdrawals on Crypto.com
Why We Picked It
The Crypto.com app has many interesting features that you must check out once. The trading fees here are on the lower side and the exchange gives additional discounts for locking-up CRO. There are many staking opportunities available and it also gives good rewards for referring people to the platform.
OKX
OKX, founded by Star Xu, is not just a cryptocurrency exchange but a whole crypto ecosystem. This ecosystem consists of its native OKX Chain, OKB token and native crypto wallet. OKX gives users a healthy choice of over 400 cryptocurrencies for spot, margin and derivatives trading.
You can chart and trade without any limits on OKX TradingView. Intuitive charting and other technologies enable you to execute all your trades in one place. You can also broaden your horizons and up your skills by interacting with OKX’s crypto trading community.
If you want to earn passive income, you should head over to OKX Earn which has multiple investment products for you to choose from. You can pick either fixed or flexible-term products or a combination of them to grow your assets.
Features
✔️Over 400 cryptocurrencies available for trading
✔️Native blockchain known as OKX Chain
✔️Native token is called OKB
✔️OKX Wallet can be used with 40+ networks
Pros and Cons
✅Great crypto collection ❌Fee structure is complex
✅Supports many payments
options
✅Low trading fees
✅Option to grow crypto holdings
Trading Fees
Trading fees for OKX cryptocurrency exchange
Customer Reviews
Users can create sub-accounts on OKX
OKX’s customer service is not up to the mark
Why We Picked It
There are several trading types available on OKX including margin and derivatives trading. Though the calculation method is a little complicated, the fees on OKX are rather low. You can limitlessly use the advanced charting and market tracking tools available here and stake your assets for some good APYs.
Bybit
Bybit is a top cryptocurrency exchange that is constantly innovating and bringing new exciting offers for users. A platform primarily for derivatives trading, Bybit also supports spot and margin trading.
Bybit has over 280 pairs for spot trading and it also supports USDC and USDT as collateral for perpetual contracts. Even for inverse and options contracts, you can use USDC as collateral. You can also copy and learn from the strategies of top traders with Bybit’s copy trading feature.
Advanced traders can also make full use of Bybit’s charting and market tracking tools.
Features
✔️280+ pairs available for spot trading
✔️Largest USDC Options marketplace in the world
✔️Copy trading is supported
✔️Native Bybit Web3 wallet available
Pros and Cons
✅Many types of trades are supported ❌Poorly communicates risks of
✅Advanced investment tools available derivatives trading
✅Trading bots for automating trades
✅NFT collections available
Trading Fees
Bybit cryptocurrency exchange fees
Customer Reviews
Users can trade comfortably on Bybit
Users have reported that accounts have been locked on Bybit
Why We Picked It
Bybit is a platform suitable for both beginner and advanced traders. It is easy to navigate and supports both spot and derivatives trading. At the same time, it offers advanced investment tools to users. There is also an NFT marketplace available here where you can check out several interesting and upcoming collections.
eToro
eToro is not specifically a cryptocurrency exchange but it does offer some crypto assets for trading and staking. Based out of Israel, it is a brokerage platform that offers over 3,000 assets for investment. Among its many firsts, it was also one of the first platforms to introduce copy trading and which remains one of its most popular features.
eToro enables you to imitate the strategies of top traders in real time and apply them to your own trades. With eToro’s portfolio manager, you can build a diversified portfolio with exposure to different market segments. Assets with some good rewards are also available here for staking.
Features
✔️Brokerage for social trading and investment
✔️Over 75 cryptocurrencies available for trading
✔️Stocks, ETFs and Options available
✔️Five-tiered VIP program for users
Pros and Cons
✅Several asset types available ❌Lesser cryptocurrencies
✅Heavily regulated brokerage ❌Crypto trades can be expensive
✅Supports copy trading
✅eToro Academy for learning
resources
Trading Fees
eToro platform fees for buying and selling cryptocurrency
eToro charges for crypto-to-crypto conversions
Customer Reviews
eToro provides clients with dedicated account managers
eToro’s fees are very high
Why We Picked It
eToro is a great platform for multi-asset trading and growing a diverse portfolio. You can get exposure to assets like stocks, ETFs, and cryptocurrencies here. eToro is a heavily regulated platform and its copy trading feature is par excellence.
KuCoin
KuCoin is known for its massive cryptocurrency collection and is, therefore, a good option for traders wanting to have a look at relatively obscure and underrated coins. As a bonus, it lets you convert one cryptocurrency to another at zero fees.
KuCoin supports 20+ languages and is available in over 200 countries which has helped it nurture a global crypto community. Therefore, you can interact with crypto enthusiasts across the globe with KuCoin. Here, you can also use trading bots for automating spot grid, dollar cost averaging, futures grid, infinity grid and smart rebalance.
With KuCoin’s Halo wallet, you can explore Web3 and make multi-chain swaps at the best possible prices. You can also discover the latest market trends and follow the on-chain activities of other wallets.
Features
✔️Over cryptocurrencies available for trading
✔️Supports 20+ languages
✔️Native coin is called KuCoin Token(KCS)
✔️Supports crypto lending
Pros and Cons
✅Wide range of cryptocurrencies ❌Fee system is complex
✅Crypto-to-crypto conversion is free ❌Trading bots can glitch
✅Trading bots to automate trades
✅Explore Web3 with Halo wallet
Trading Fees
KuCoin cryptocurrency exchange fees
Customer Reviews
Users can find underrated coins on Kucoin
KuCoin’s customer service is bad
Why We Picked It
KuCoin has a massive cryptocurrency collection for users. Therefore, you are bound to find something of interest here. Since it is a multi-lingual platform, you can interact with a global crypto community in your preferred language on KuCoin. With the Halo Web3 wallet, you can follow other social wallets and their on-chain activities.
Top 2 Decentralized Exchanges in Poland
There are also some crypto traders who don’t like the idea of depending on a centralized company to trade cryptocurrency. This is because these platforms often require KYC information and are inherently against the idea of direct trading.
Decentralized exchanges that don’t require any personal information and let people trade by simply connecting their crypto wallets are a much better fit for such traders.
UniSwap
Some crypto traders prefer trading directly with other traders i.e. P2P trading. For this, many decentralized exchanges such as UniSwap have come up in the past few years. While most such platforms can be complicated to understand and use, UniSwap is known particularly for being a simple and accessible decentralized platform.
It is a DeFi project developed on Ethereum for swapping ERC-20 tokens. UniSwap eliminates the need for third-party intermediaries by employing the Automated Market Maker(AMM) protocol.
In this system, a collection of smart contracts is used to define and elaborate everything down to the last detail about the standard procedures on the platform.
Therefore, everything from the creation of liquidity pools to the compensation of liquidity providers is defined in the smart contracts that are automatically executed once certain conditions are met. This is a big help to the platform in avoiding price manipulation and ensuring transparency.
Features
✔️Developed on the Ethereum network
✔️Uses the AMM system
✔️Three tiers for pool fees system
✔️Native token is called UNI
Pros and Cons
✅ERC-20 token swaps ❌No vetting of coins before listing
✅User privacy guaranteed
✅Navugable exchange
✅Governed by the community
Trading Fees
UniSwap fees explained
Customer Reviews
UniSwap is a good exchange for crypto trading
UniSwap has no proper customer support
Why We Picked It
UniSwap is a popular and highly liquid DeFi exchange. You can seamlessly swap tons of ERC-20 tokens here at very low fees. This is a very accessible DeFi platform and can be easily used even by not-so-experienced traders. The exchange also has a native UNI token holders of which get to vote on proposals related to the platform.
PancakeSwap
PancakeSwap is another ‘Swap’ exchange very popular among people enthusiastic about DeFi projects. It is a cute and colorful platform with a food-based theme that is constantly innovating to bring new products to users. One main thing that differentiates it from the similarly-named UniSwap is its use of the BNB Chain and support of BEP-20 tokens instead of the Ethereum blockchain.
The use of the BNB Chain is advantageous for PancakeSwap as it does not have to deal with frequent network congestions and expensive gas fees. Therefore, PancakeSwap traders rarely have to pay exorbitant gas fees for their trades on the platform.
PanckeSwap while upgrading to v3 has also replaced its single fee rate of 0.25% with a four-tier system. Hence, traders on PancakeSwap can now pay a fee that is proportionate to the nature of the assets being swapped.
Features
✔️Developed on the BNB Chain
✔️Four tiers for trading fees
✔️Native token called CAKE
✔️Governed by CAKE holders
Pros and Cons
✅No KYC required ❌Bitcoin is not available
✅BEP-20 token swaps ❌Issue of phishing and other scams
✅No gas fee problems
✅Staking assets on yield farms
and syrup pool
Trading Fees
PancakeSwap trading fees
Customer Reviews
PancakeSwap is a decentralized exchange with lots of tokens
PancakeSwap has a problem with scams and low-quality coins
Why We Picked It
On DEXs like PancakeSwap, you can just start trading by connecting your crypto wallet. No registration, no ID needed. It offers users several products such as yield farms and has also become more capital efficient after the v3 upgrade. The exchange also has a native CAKE token whose holders get to vote on proposals related to the platform.
Is Crypto Allowed in Poland?
While Poland has not formally legalized cryptocurrencies, it does not explicitly prohibit crypto trading either. However, since 2021, virtual asset exchange has become a regulated activity in the country. Therefore, companies engaged in such activities must be registered per the established requirements.
In Poland, the Tax Administration Chamber maintains a register of crypto activities known as the Register of Virtual Currencies. There is no cryptocurrency licensing regime in Poland but companies need to be registered with the proper state business register.
Further, the country taxes profits from crypto transactions as income from cash capital in the case of personal income tax. But crypto revenues of corporations are treated as capital gains in Poland. Larger companies have to pay a flat tax rate of 19% while smaller companies are given a preferential flat rate of 15%.
Conclusion
There are several prominent cryptocurrency exchanges operating in Poland. Polish traders, therefore, have no dearth of options when it comes to crypto trading. They can buy, sell and trade cryptocurrencies and stake their assets on any crypto exchange of their liking.
However, among all this, one should not forget that cryptocurrencies as an investment are very risky and speculative. Their prices can fluctuate wildly and you can lose money in a matter of a few minutes.
Therefore, it is always prudent to introspect about your financial goals and consult a qualified professional before putting your money in cryptocurrencies.