A Guide to Buy Bitcoin from Slovenia (2024)

Slovenia is an upcoming player among European nations in the digital revolution, which it has hastened to embrace in its entirety, including cryptocurrency. Among various digital assets gaining popularity, Bitcoin stands out as a widely recognised and sought-after investment. If you wish to explore the world of cryptocurrency, this article provides a comprehensive guide, along with essential insights into how to buy Bitcoin from Slovenia.

Cryptocurrency Regulations in Slovenia

Crypto assets in Slovenia are designated as virtual currencies that can be traded and exchanged legally. Crypto exchanges must be registered with the Financial Administration, fulfil necessary AML and KYC protocols, and acquire approval from the legal entity of the Securities Market Agency (ATVP) or an equivalent broader European authority or regulatory framework.

If you are a professional trader in cryptocurrency and profit regularly from it, you may be taxed in Slovenia. The Financial Administration of the Republic of Slovenia (FURS) treats regular income from business-like cryptocurrency activities as capital gains under corporate law. Therefore, advanced users and crypto traders with a considerable periodical income may be taxed at 19% of their total profits.

How to Buy Bitcoin from Slovenia: A Guide

Investing in digital currency and bitcoin in Slovenia is a measurably straightforward process. A smartphone with an internet connection is all you will need. Follow this simple step-by-step guide for a seamless and secure transaction.

• Choose a crypto trading platform monitored and approved by European authorities like CySEC or compliant with the Securities Market Agency (ATVP).
• Set up an account by registering your email, setting a strong password and completing the necessary KYC (know your customer) process by providing mandatory verification of identity and residence. The verification process can take a few seconds to 1-2 days.
• Deposit fiat currency to your account by linking your bank account or credit/debit card. Crypto trading platforms in Slovenia offer a wide range of deposit methods, including (SEPA) bank transfer, debit or credit card and Google Pay. Most platforms, however, have limits on alternative payment methods, such as PayPal and other e-wallet services. It usually takes a few minutes to a few days for the funds to reflect on the exchange.
• Once the funds have been added to your account, you can purchase bitcoins or other cryptocurrencies. Type the name of the coin or its symbol into the search box, fill out the payment details and the amount of cryptocurrency you want to purchase, and hit the "trade"/"buy" button to complete the purchase.
• Once you have purchased bitcoins, you can leave them on the exchange, but be aware that they pose security risks, as exchanges sometimes fall target to hackers for stealing user funds. Withdraw and transfer your coins to a personal cold storage crypto wallet like MetaMask and Trust Wallet for maximum control and security. These cold storage wallets, unregulated and private, are accessible from anywhere in the world.

List of Best Cryptocurrency Exchanges in Slovenia

When buying Bitcoin in Slovenia, there are several important things to account for, like exchange fees, storage facilities, supported assets, the range of altcoins available and payment options to save money and gain assurance. Assess and compare the major exchange platforms from the list we have compiled below and find a pick that suits your interests.

• eToro - With a wide array of 3,000+ assets, eToro enables you to build a diverse portfolio in one safe and cohesive platform. It allows you to invest in cryptocurrencies like Bitcoin, Ethereum, crypto-related commodities, and equities like Coinbase and Microstrateg.

Its options for easy Euro deposits like bank transfers and debit cards, coupled with its low fees and zero upfront commissions, make it a trusted choice among Slovenians and over 30 million investors worldwide.

• Uphold - In the same league as eToro, Uphold enables quick and low-cost Euro deposits. It also boasts unique features like one-click trades and automated scheduling of regular transactions, saving you the hassle of monitoring price fluctuations. A trading fee and a spread fee, both by 1%, are applied.
• Bitget - This Singapore-based crypto exchange platform has proven to be one of the most popular and well-reputed crypto exchanges for leverage trading in Slovenia. Bitget offers over 580 cryptocurrencies for spot trading while supporting more than 400 coins and trading pairs such as Bitcoin, Ethereum, Litecoin, and BGB.

With over $400 million in Security funds, Bitget stores its user funds in cold exchange wallets for protection against hackers and theft. It also equips two-factor authentication for all accounts for optimal security.

While Bitget does not charge deposit fees, other transaction fees range from 0.10% to 0.20%, depending on trading volume.

• Skilling- With a portable system and a beginner-friendly interface, Skilling offers a seamless user experience with accessible trading options in 55 virtual currencies. An impressive feature of Skilling is its compatibility with TradingView, a market analysis platform for traders and investors.

It also has a host of beginner-friendly software, which simplifies the experience of navigating it on web browsers and phones. Skilling charges a 0.1% spot trading fee, which is far cheaper than most competitors.

• Binance- Globally the largest cryptocurrency exchange, with a trading volume of over $1 billion daily, Binance allows you to store and trade in more than 360 coins. It also has a high daily withdrawal limit with the added benefit of low trading fees, especially on Binance coins. There is no deposit fee, but withdrawal comes with a small fee, which varies depending on the crypto.

Binance is also the best option for users who cannot access US Dollars. Many crypto exchanges in Slovenia accept deposits only in US dollars, which poses a problem for those dealing in a different primary currency. It also offers ancillary services such as staking, crypto loans, and other advanced trading tools like derivatives market features of futures and options.

• Kraken - Another go-to platform for beginners, Kraken offers a quick and convenient trading service with a round-the-clock support system. You can sign up for free, get almost immediately verified, and choose from over 200 crypto tokens on the platform. Kraken charges between 0-0.26% on every crypto trade
• Bybit - Boasting a customisable trading interface and market orders like take profit/stop loss, Bybit leads the game in crypto derivatives trading, with 100x leverage across Bitcoin, Ethereum, and Ripple. The platform protects all user funds with security features like address whitelisting, two-factor authentication and cold wallet storage.
• KuCoin- With over 600 coins and 400 trading pairs, KuCoin offers one of the widest arrays of altcoin trading options, including smaller cap gems and DeFi tokens that are scarcely available elsewhere.

One of the most notable benefits is its discounted trading fees on payments with its native KCS currency. If you pay trading fees with KCS tokens, you will earn a lifetime discount of up to 30% on all trading costs.

Conclusion

Slovenia currently has over 50 thousand active users and owners of cryptocurrency, which is about 2.45% of its total population. Slovenian services and goods sellers are slowly progressing towards accepting transactions in the form of bitcoins and other cryptocurrencies. To buy bitcoin from Slovenia, sign up on an exchange approved and regulated by the country's Securities Market Agency (ATVP). Depending on your financial goals, whether they are short-term or long-term, make sure to choose a reliable platform and a trusted cold storage wallet service for a secure and seamless trading experience. Happy trading!

FAQs