Do you want to know mikä on bitcoin? Finland is known for its long history of high-tech innovation – think Nokia. Its financial institutions are very positive about cryptocurrency and blockchain technologies.
Finnish crypto exchanges are FIN-FSA approved and offer a range of deposit methods. They also provide competitive fees, security measures and user-friendly platforms.
How to Buy
If you’re looking to buy bitcoin in Finland, there are a few ways to do so. You can find a Bitcoin ATM near you, or you can purchase tokens on a cryptocurrency exchange.
In either case, you will need to complete a Know Your Customer (KYC) process in order to start buying. This is a standard practice that’s required by the Finnish Financial Services Authority (FIN-FSA) to ensure that providers meet statutory requirements to prevent money laundering and terrorist financing.
The main advantage of using a regulated exchange is that they will ensure the security of your funds. These exchanges are based on bank-level security protocols and undergo frequent financial and security audits. They also accept a range of payment methods, including SEPA Bank Transfer and credit/debit cards.
Legality
Buying Bitcoin is completely legal in Finland, as long as you use a fiat currency like euros or US dollars to make your purchase. However, when you buy a cryptocurrency with another cryptocurrency (eg BTC for ETH), you may need to calculate and report capital gains taxes on the underlying currencies used in the transactions.
The Finnish Financial Supervisory Authority (FIN-FSA) regulates all cryptocurrency exchanges, crypto deposit providers and cryptocurrency issuers in the country. This ensures that all of them meet current regulations and are able to operate legally in the country.
You can deposit and trade cryptocurrency in Finland using a number of methods, including bank transfers, SEPA payments, Finnish online banking services and more. You can also find a number of local and international cryptocurrency exchanges that allow you to buy, stake, and trade crypto assets in a secure and regulated environment.
Exchanges
If you are in Finland and want to buy bitcoins, you will have a wide range of exchanges to choose from. The best way to find the right exchange for you, like Bybit https://www.bybit.com/en-US/ , is to explore and compare the different features of each platform.
Coinbase is one of the most popular crypto exchanges in Finland and offers a simple and secure verification process. Customers can buy bitcoin instantly via a credit or debit card with fees of 3.99% or directly from their bank account with fees of 1.49%.
Kraken is another popular global exchange that does not require KYC (for withdrawals up to $1000 per day) and offers a wide selection of cryptocurrencies, including the top ten. It also offers high liquidity and low fees.
Buying and selling crypto in Finland is tax-exempt, but you must declare your profits to the Finnish Tax Administration. In addition, some exchanges are required to share transaction records with the government.
Security
If you’re looking to buy bitcoin finland, you need to ensure that your purchase is secure. Crypto assets are susceptible to theft and hackers can find loopholes in exchanges. The best way to protect your money is by storing it offline using cold storage devices such as hardware wallets.
To comply with security laws, cryptocurrency firms in Finland must register with FIN-FSA. They are also required to meet a number of regulations regarding their reliability, protection of client funds and fitness of key staff.
The Finnish government imposed a series of regulatory obligations for cryptocurrency exchanges and custodial wallets as part of the country’s new Act on Virtual Currency Providers. These requirements aim to prevent money laundering and terrorist financing.
As of May 1, 2019, Finnish companies offering crypto-based services are required to meet a number of regulatory requirements, including a license from FIN-FSA and compliance with anti-money laundering rules. They are also required to carry out regular Know Your Customer (KYC) checks on customers.
