Selecting the most suitable cryptocurrency exchange in Hungary can be a daunting task, given the multitude of options available. The National Bank of Hungary MNB has warned the public about the unregulated and risky nature of cryptocurrencies like bitcoin. Cryptocurrencies are not recognized as legal tender in Hungary, and the regulatory framework for crypto activities is lacking. Hungary has joined the European Blockchain Partnership and committed to following AMLD5 regulations.
All cryptocurrency exchanges featured in this article are fully regulated, adhere to anti-money laundering (AML) laws, and require Know Your Customer (KYC) verification for user security.
Top 5 Cryptocurrency Exchanges in Hungary Reviewed
We’ve evaluated numerous crypto exchanges to create a list of the top 6 crypto platforms available in Hungary. Keep reading to discover essential details about the finest crypto exchanges for Hungarian traders!
Discover the top crypto exchanges in Hungary:
- Bybit – Best Overall Crypto Exchange in Hungary
- Bitget – Best Alternative Exchange in Hungary
- Binance – Largest Crypto Exchange in Hungary
- eToro – Best TradFi + Crypto Exchange in Hungary
- Uphold – Best Beginner Crypto Exchange in Hungary
1. Bybit
Bybit stands out as a premier cryptocurrency exchange with a strong focus on derivatives trading. Operating legally in 180 countries, Bybit mandates full KYC verification to ensure AML compliance. The registration and KYC process is straightforward, making it accessible for both novice and experienced traders.
Bybit prioritizes transparency and has publicly disclosed its proof of reserves, guaranteeing a 1:1 backing of all user funds. Moreover, the platform boasts a $400 million security fund, providing users with added protection against third-party attacks.
With a vast selection of over 500 digital assets, advanced trading options, competitive fees, and high leverage (up to 125x), Bybit caters to the needs of active traders. Its user-friendly interface appeals to beginners and seasoned traders alike.
Bybit’s P2P Trading platform now includes support for the Hungarian forint (HUF), expanding its range of available fiat currencies. Users can easily engage in cryptocurrency buying and selling using over 300 diverse payment methods, including Wise, Bank Transfer, Revolut, SEPA, Erste Bank, OTP Bank, International Wire, K&H Bank, UniCredit, and ZEN. This enhancement provides greater accessibility and convenience for cryptocurrency trading in Hungary.
If you want to learn more about the platform, you can read our full Bybit review.
Spot Fees: 0.1% maker / 0.1% taker
Futures Fees: 0.02% maker / 0.055% taker
Supported Cryptos: 430+
Futures Contracts: 240+
HUF Payments: Adapted for the Hungarian market, it offers multiple options for deposits using HUF.
Customer Support: 24/7 live chat support
2. Bitget
BitGet is the epitome of a well-rounded cryptocurrency exchange in Hungary. With operations licensed in 180 countries, Bitget mandates full KYC verification to comply with AML regulations. Its user-friendly platform and simplified registration process make it an excellent choice for traders at all levels of experience.
Bitget distinguishes itself through its commitment to user security, boasting a $400 million security fund and publicly releasing proof of reserves. With an extensive selection of over 500 digital assets, advanced trading features, and competitive fees, Bitget caters to active traders while remaining accessible to beginners.
What sets Bitget apart for Hungarian users is the availability of free Euro deposits. Crypto enthusiasts in Hungary can deposit their local fiat currency without incurring any fees through SEPA bank transfers. Withdrawals come with a modest fixed fee of 0.5€. Furthermore, Bitget offers multiple avenues for direct cryptocurrency purchases, including Credit/Debit Cards, Google Pay, Apple Pay, and third-party providers.
If you want to learn more about the platform, you can read our full BitGet review.
Spot Fees: 0.1% maker / 0.1% taker
Futures Fees: 0.02% maker / 0.06% taker
Supported Cryptos: 598+
Futures Contracts: 300+
Deposit & Withdrawals: Bank transfer, SEPA, credit/debti card
Customer Support: 24/7 support through email, live chat, and social media channels
3. Binance
Binance stands as a global cryptocurrency giant, serving over 120 million registered users worldwide. This exchange offers an extensive array of over 1000 trading pairs across various categories, including spot, margin, futures, and options trading.
Binance charges variable deposit fees depending on the method used, while withdrawals are typically free. The spot trading fee is set at a competitive 0.1%, with attractive maker and taker rebates of 0.02% and 0.04%, respectively, available for derivative trading.
Regulated by the Cyprus Securities and Exchange Commission (CySEC), Binance provides an extra layer of security and compliance. Users who prioritize operating within a regulated environment may find this appealing.
Binance offers 24/7 customer support through live chat, email, and an online ticketing system, ensuring users have access to assistance when needed.
Hungarian users can conveniently deposit HUF through various methods, including credit/debit cards, bank transfers, SEPA transfers, and ZEN.
If you want to learn more about the platform, you can read our full Binance review.
Spot Fees: 0.1% maker / 0.1% taker
Futures Fees: 0.02% maker / 0.04 taker
Supported Cryptos: 385+
Payment Methods: Multiple deposit methods, including credit/debit cards, bank transfers, SEPA transfers, and ZEN
Customer Support: 24/7 live chat support
4. eToro
eToro stands out as a comprehensive investment platform available to Hungarian users. While renowned for its cryptocurrency offerings, eToro extends beyond the realm of crypto to provide access to an extensive range of assets, including stocks, commodities, currencies, indices, and ETFs.
One of eToro’s unique features is Copy Trading, which allows users to automatically replicate the trades of experienced investors. This can be highly beneficial for beginners looking to learn from seasoned traders and potentially generate profits.
Furthermore, eToro offers demo accounts for practice trading and leverage of up to 10x on various assets, enabling users to explore different trading strategies and risk levels.
eToro’s fee structure is attractive, with free deposits and withdrawals. The platform charges zero trading fees and relies on a 1% spread, which is competitive compared to traditional brokers but in terms of crypto exchanges, it could be considered quite expensive.
Regulated by the European Securities and Markets Authority (ESMA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Conduct Authority (FCA), eToro adheres to stringent regulatory standards, providing users with confidence in the platform’s security and compliance.
Customer support on eToro is available 24/7 through live chat, email, and an online ticketing system, ensuring users can receive assistance promptly. Hungarian users can conveniently deposit HUF through various methods, including credit/debit cards, bank transfers, and various e-wallets.
If you want to learn more about the platform, you can read our full eToro review.
Spot Fees: 1% buying/selling fees (general trading)
Futures Fees: 1% buying/selling fees (general trading)
Supported Cryptos: 70
Futures Contracts: N/A
Payments: Bank Transfer, Credit/Debit Card, SEPA, Neteller, eToro Money, Skrill, Rapid Transfer & Trustly.
Customer Support: 24/7 availability through live chat and online tickets.
5. Uphold
Uphold, a U.S.-based cryptocurrency exchange, offers access to a broad spectrum of over 250 cryptocurrencies. With a simple and intuitive platform, Uphold is an ideal choice for beginners in the crypto market.
Uphold goes beyond crypto trading by providing access to 50+ stocks and 25 forex currencies, offering users the opportunity to diversify their portfolios.
The fee structure on Uphold is straightforward, with a 1.4% maker fee and a 1.95% taker fee. Users have multiple options for purchasing cryptocurrencies, including Credit/Debit Cards, Bank Transfers, Google Pay, Apple Pay, and more.
Uphold offers 24/7 live chat support to address user inquiries promptly.
Hungarian users can conveniently deposit HUF via bank transfers with a reasonable fee or use Credit/Debit Cards, although this incurs a slightly higher fee.
If you want to learn more about the platform, you can read our full Uphold review.
Spot Fees: 1.4% maker / 1.95% taker
Futures Fees: No futures supported
Supported Cryptos: 250+
TradFi Assets: 50+ stocks and 25 forex currencies
Payments: Bank Transfers, 3.99% Fee on Credit/Debit card payments
Customer Support: 24/7 live chat support
Is Crypto Legal in Hungary?
Yes, cryptocurrencies like Bitcoin are legal to buy, sell, and trade in Hungary. However, they are not considered legal tender, meaning they are not officially recognized as a form of payment. Cryptocurrency service providers, including exchanges, are required to adhere to anti-money laundering (AML) and Know Your Customer (KYC) regulations, ensuring the security and legitimacy of their operations.
It’s crucial for cryptocurrency users in Hungary to stay informed about changes in regulations and tax obligations related to their crypto activities. Consulting with a financial advisor or tax professional specializing in cryptocurrency can be highly beneficial for navigating the evolving legal landscape.
How to Buy Bitcoin & Other Cryptos in Hungary
Purchasing Bitcoin and other cryptocurrencies in Hungary is a straightforward and cost-effective process when done correctly. Follow these steps to securely acquire cryptocurrencies in Hungary while obtaining the best rates:
1. Choose a Crypto Exchange: Begin by selecting a cryptocurrency exchange operating in Hungary. Consider factors such as value for money, security, and user-friendliness. Bitget and Bybit offer competitive advantages due to their low fees and free Euro deposits.
2. Sign Up & Verify Identity: Legitimate cryptocurrency exchanges, such as Bitget and Bybit, require KYC verification to comply with AML laws. The registration process is typically straightforward, with government-issued ID or passport verification for identity.
3. Purchase Cryptos: Once registered and verified, navigate to the spot market on the chosen exchange to exchange your fiat currency for cryptocurrencies like USDT or BTC. Thanks to low fees on platforms like Bitget, you’ll only pay minimal fees for purchasing cryptocurrencies.
4. Secure Your Assets: It’s highly recommended never to leave your cryptocurrency investments on an exchange. For optimal security, transfer your assets to a cold storage wallet, such as the Ledger Nano X.
Final Thoughts
In conclusion, Hungary offers a conducive environment for buying, selling, and trading cryptocurrencies like Bitcoin. The available exchanges, including Bitget, Bybit, Binance, eToro, and Uphold, cater to diverse preferences, from beginners to experienced traders.
While Bitget and Bybit excel in providing advanced trading features, free Euro deposits, and competitive fees, Binance’s global presence and regulatory compliance offer a robust option. eToro stands out for its comprehensive investment platform, including Copy Trading, and Uphold provides a user-friendly experience with access to a wide array of cryptocurrencies.
Remember that cryptocurrency investments are subject to taxation, and capital gains tax may apply. Consultation with a local tax advisor is strongly recommended to address specific cryptocurrency taxation requirements in Hungary.
By following our step-by-step guide, you can securely purchase cryptocurrencies in Hungary, making the most of the available options while adhering to legal and regulatory standards.
