How To Buy Bitcoin in Sweden?

Looking to get into cryptocurrency but not sure where to start as a Swedish investor? This guide will walk you through the basics of buying Bitcoin and other digital assets in Sweden.

We’ll explain the regulations you need to know and the top recommended exchanges and wallets to purchase Bitcoin securely. From verified ID verification to securely storing your coins, you’ll learn the best practices for getting involved in this new digital financial landscape right from Sweden.

Let’s get started with an overview of Sweden’s stance on cryptocurrency, then we’ll dive into the specific platforms, exchanges and custody solutions best suited for Swedish cryptocurrency holders.

Crypto Regulations – Is Bitcoin Legal in Sweden?

Source: freemanlaw

Cryptocurrency regulations in Sweden are integrated into broader legal frameworks rather than having specific laws for digital currencies. Here are the key aspects:

  • Broad Legal Frameworks: Sweden does not have distinct regulations for cryptocurrencies. They are not recognized as legal tender, yet activities such as making payments with, purchasing, selling, or trading cryptocurrencies are permissible.
  • Registration Requirements: Crypto-related businesses in Sweden must adhere to certain registration mandates. Specifically, those offering custodial, wallet, and exchange services are required to follow the Swedish Currency Exchange Act, aligning with Anti-Money Laundering (AML) legislation for specific financial entities.
  • AML Directives: Entities that need to register with the Swedish Financial Supervisory Authority (Swedish FSA) under the Certain Financial Operations Act (CFOA) are also subject to the Swedish AML Act. This includes businesses providing exchange services between virtual and fiat currencies, electronic money, other virtual currencies, and custodian wallet services.
  • Consumer Protection: The existing consumer protection laws in Sweden do not fully shield investors from the risks associated with cryptocurrency investments. The Swedish FSA has issued warnings about the unregulated nature of most Initial Coin Offerings (ICOs), highlighting the lack of security and rights for investors in ICO tokens.
  • MiFID II Compliance: Cryptocurrencies deemed as “transferable securities” are regulated under MiFID II. For a virtual currency to be considered a transferable security in Sweden, it must be both transferable and negotiable on the capital market.
  • Cryptocurrency Mining: As of now, cryptocurrency mining is allowed in Sweden and does not fall under any specific legal regulation.
  • Future Regulatory Changes: The upcoming Markets in Crypto-Assets (MiCA) regulation, set to be fully implemented in 2024, will introduce new consumer protection and business operation standards for the crypto market in Sweden.

It’s important to note that these regulations may evolve, and consulting with legal professionals or relevant authorities is advisable for the latest guidance.

Easiest and cheapest ways to buy crypto in Sweden

Regulated & high liquidity
How To Buy Bitcoin in Sweden?

Safello

👛 Ease of Use – Easy
👛 Fees – High
👛 Verification – 1 day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, JPY, CAD

Safello is a Swedish cryptocurrency exchange that offers simple buying and selling of Bitcoin for fiat currencies.
More info +
Regulated & high liquidity
coinbase

Coinbase

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – EUR, USD, and 50+ more

If we want to mention the biggest cryptocurrency exchanges in the world, Coinbase is most likely the first name that comes to our mind. Coinbase is a very powerful crypto platform, especially in the US.
More info +
Established & high liquidity
How To Buy Bitcoin in Sweden?

Binance

👛 Ease of Use – Medium
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, AUD, RUB

Binance is widely considered the largest cryptocurrency exchange in the world. It was launched in July of 2017 and in a short period of time became the exchange with the largest trading volume with more than $10 billion on a daily basis.
More info +
Regulated & Long Established
How To Buy Bitcoin in Sweden?

Cex.io

👛 Ease of Use – Easy
👛 Fees – High
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, RUB

Founded in 2013 in London, UK, and with over 4 million users, Cex.io is among the oldest cryptocurrency exchange platforms on the market. On Cex.io, you can buy, sell, trade, and store over 100 cryptocurrencies.
More info +

Best Bitcoin Wallets in Sweden

It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets.

But, which bitcoin wallet is available in this country?

The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.

Bottom Line
Pros
Cons
ZenGo
ZenGo
Mobile
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Bottom Line
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
Pros
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
Cons
No major flaws
Exodus
Exodus
Desktop
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Bottom Line
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
Pros
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Cons
Not completely open source
Ledger Nano X
Ledger Nano X
Hardware
Visit Now
Bottom Line
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Pros
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Cons
Small display
complicated to setup for newbies

Read also:

Regulated & high liquidity
How To Buy Bitcoin in Sweden?

Kraken

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 2-3 Days
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, JPY, CAD

Established in 2011, Kraken has carved a niche for itself as a trusted and reliable crypto exchange. It boasts support for an impressive roster of over 220 digital assets, encompassing major cryptocurrencies like Bitcoin, Ethereum, Cardano, and many others. Security has always been a cornerstone for Kraken, making it a go-to choice for many.
More info +
Trusted & high liquidity
Bitstamp

Bitstamp

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP

Initiated in 2011, Bitstamp has emerged as a trustworthy name in the world of cryptocurrency exchanges. It’s renowned for being the crypto exchange with the longest history, marked by its cost-effective rates, consistent service, and uncomplicated design. Bitstamp’s reach extends to over 100 countries, though some regions might experience limited features.
More info +
Regulated & high liquidity
uphold exchanges

Uphold

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, GBP, EUR + more

Uphold is a crypto exchange that has been in the game since 2015. The headquarters of the company is in NY, the US. It offers its users a multi-functional exchange of different assets, other than just buying and selling cryptocurrencies.
More info +
Established & high liquidity
paxful

Paxful

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, CAD, AUD + more

Paxful is widely considered “the Uber” of the Bitcoin world. It is a crypto exchange that is based in the US and has over 200 employees. Paxful was launched in 2015, so it has longevity on the crypto market.
More info +

Frequently asked questions about buying Bitcoin in Sweden

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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