6 Best Crypto Exchanges In Iceland

Here’s something you may not realize: the cryptocurrency exchange you choose matters. Your choice will impact how profitable your trades are, how easily you can buy and sell coins, and whether you can use it in Iceland at all.

Fortunately, I've been investing in crypto for more than 9 years, and I frequently update my list of the top platforms below. So if you’re looking for a safe and secure crypto exchange that’s easy to use, supports the Icelandic króna, and is compatible with the biggest financial institutions in Iceland, you’ve come to the right place.

Here are my top picks for the best crypto exchanges Iceland has to offer.

1. Capital – Best Overall

Zero Fees

Trading fees: 0% Supports: 100+ coins Customer support: Excellent Trusted by millions.

★★★★★ Rated 4.9/5

Capital allows users to trade crypto alongside stocks, commodities, forex, market indices, ETFs and more—all without any trading fees. It supports 100+ cryptocurrencies, and users can trade with 2x leverage on crypto (up to 500x leverage on other assets).

Capital charges a tight spread ranging from 0.1% – 0.3% (depending on the asset), making the overall cost of using the platform (0% trading commissions + 0.1% – 0.3% spreads) very low. It has a fully functional desktop platform, a well-rated mobile app (4.7/5 on Android and iOS), and an excellent demo account where you can practice trading with real assets in real time.

Capital is licensed by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, which means it’s a safe, secure platform. Every user receives a dedicated account manager they can reach by email or phone anytime, which is part of the reason Capital’s customer support team receives such positive reviews.

Deposits and withdrawals are always free with Capital, and you’ll never pay trading commissions regardless of whether you place spot orders or limit orders. Capital is ISO 27001 certified for meeting robust information security standards, making it an extremely safe platform to trade with.

The biggest drawback of Capital is that it can take several days to have your account verified since their verifications team is overwhelmed with signups right now. If you sign up using my referral link, though, you can skip the waitlist and start trading immediately.

I’ve personally used Capital for more than 4 years, and based on my experiences and those of millions of other users, I can’t recommend it highly enough. 

Features

• Zero trading commissions
• Tight spreads (0.1% – 0.3%) 
• Supports 100+ cryptocurrencies
• Allows up to 500x leverage (2x leverage on crypto)
• Fully functional demo account for paper trading
• Free deposits and withdrawals via debit/credit cards, bank transfer, POLi, PayPal, Apple Pay, etc.
• Dedicated account manager you can reach at any time
• Excellent desktop trading platform
• Well-rated mobile app (4.7/5 on both Apple and Google)
• Licensed by the Australian Securities and Investments Commission (ASIC)
• ISO 27001-certified for meeting extremely high information security standards

Cost

• Trading fees: 0%
• Spreads: 0.1% – 0.3%
• Deposits & Withdrawals: Free

Signup Bonus

Skip the waitlist and have your account approved immediately by using my referral link below.

Best For

Investors looking for the best overall crypto trading experience with no trading commissions.

2. CMC Markets

CMC Markets is a leveraged trading platform headquartered in the UK. It’s one of the largest investing platforms in terms of volume, with over 1 million active traders across all their markets. CMC Markets supports 18 crypto assets, including a mix of the largest cryptos like Bitcoin and Ethereum and some up-and-coming altcoins with potential like NEO, Cardano, and TRON.

CMC Markets aggregates crypto prices from 15+ exchanges and data sources to offer very competitive prices. They also offer another way to gain exposure to crypto: Crypto Indices. Crypto Indices are diversified crypto baskets – by purchasing a crypto basket, you gain access to the crypto sector as a whole.

In terms of pricing, CMC Markets is ahead of many exchanges – for starters, it doesn’t charge trading fees; you will only pay very small spreads (0.02% for purchases, 0.09% for selling). 

They also have a program called Alpha: if your monthly trading volume reaches the minimum, you will immediately gain access to additional features like a dedicated account manager, VIP service, and preferential pricing on crypto assets.

CMC Markets users can also access global markets, including commodities, shares, indices, CFDs, and FX – all in one place. Their mobile app is available on Android and iOS, and they have excellent reviews on Trustpilot, averaging a rating of 4.2/5.

Features

• Supports 18+ cryptocurrencies
• Access to diversified Crypto Baskets
• App available for Android (3.5/5 rating) and iOS (4.1/5 rating)
• Demo environment
• For Alpha users: Data analysis and In-depth market insights

Cost

• Trading Fees: Free 
• Spread: 0.07%

3. Bitpanda

BitPanda is an Austrian cryptocurrency exchange that was established in 2014 and has since become one of the most popular cryptocurrency exchanges in Europe for buying and selling digital currencies.

The exchange is a popular choice among many individuals since it features a user-friendly and easy-to-use design for purchasing, selling, and trading cryptocurrencies. The exchange also has a variety of payment choices that may be used by novice cryptocurrency users to acquire Bitcoin (BTC), Ethereum (ETH), and many other crypto coins.

Features

• Easy-to-use and intuitive platform
• Wide array of crypto assets supported (+25)
• Wide array of payment and withdrawal methods
• Fast customer support available 24/7

Cost

• Trading fees: 5% per trade

Best For

Investors new to the world of cryptocurrency trading looking for an easy-to-understand crypto exchange.

4. Bity

Founded in 2014, Bity is a Switzerland-based crypto exchange; its primary goal is to make crypto accessible to everybody, with little to no restrictions. To sign up with Bity you don’t have to complete an ID verification, just with your phone number you can start trading.

Bity is regulated by the Swiss Regulatory Authority and is in compliance with Anti-Money Laundering regulations (AML) and is regularly audited by the KPMG. Trading fees start at 3% and through the Bity Dashboard, you can keep track of your history of transactions – all in one place.

As a new Bity user, you'll receive a $40 bonus upon completing your first trade. Bity currently supports fiat money-to-crypto for both BTC and ETH. Bity is a great choice if you’re looking to buy your first crypto with fiat money; you can then transfer to exchanges with more coin offerings.

Features

• Extremely low trading fees 
• Bity Dashboard, keep track of all your transactions in one place
• Quick transactions, you can store your IBAN and crypto addresses
• ID verification not required to trade
• Create your own API tokens
• Customer support available through chat
• Fiat money to Crypto 
• Crypto to Fiat money
• AML compliant 

Cost

• Account Opening: €10
• Selling Fees: From 3% to 8%
• Purchasing Fees: From 3% to 8%
• Deposit Fees: Depends on the currency
• Bank Wire Withdrawal: Depends on the currency

Signup Bonus

$40 signup bonus

Best For

Investors looking to invest in Bitcoin (BTC) or Ether (ETH) using fiat money.

5. Bitstamp

Bitstamp is one of the world's largest and oldest crypto exchanges; it is geared towards experienced traders and has over 4 million active users worldwide. It offers competitively low fees ranging from 0.1% to 0.5% and many payment options; you can use credit or debit cards and SEPA transfers.

Bitstamp is partnered with large financial institutions like Swissquote, Chicago Mercantile Exchange and Crédit Agricole. Bitstamp fully insures your assets and keeps them safe offline – in cold storage. Bitstamp provides both hot and cold storage.

New Bitstamp users receive a $20 bonus after funding their account, and you can immediately use it to buy any of the 53 cryptocurrencies available.

Features

• Extremely low trading fees (0.1%-0.5%)
• Buy crypto with fiat currency, credit cards or bank transfers
• 24/7 customer support available via phone, live chat or email
• Instant account verification
• Supports 53 of the largest cryptocurrencies
• Access to a crypto wallet
• Hot and cold wallet storage

Cost

• Account Opening: Free
• Credit Card Purchases: 5%
• Debit Card Withdrawal: Flat $10 (USD)
• SEPA Fees: €0 for deposits, €3 for withdrawals
• Trading Fees: From 0.5% to 0.1% (0.5% for trades below $10,000)
• International Wire Transfer: 0.05% for deposits, 0.1% for withdrawals

Signup Bonus

$20 signup bonus

Best For

Experienced investors looking for professional investing tools and data.

6. Coinhouse

Founded in Paris, Coinhouse is one of the first French exchanges that offer access to a broad number of cryptocurrencies – currently, users can choose from over 300. Designed for experienced investors, Coinhouse offers competitive trading fees for its premium users, going as low as 2%.

Coinhouse offers an easy way to acquire crypto; you can get started using your credit or debit card, or your SEPA bank account. In terms of security, Coinhouse is partnered with Ledger Vault and integrates security solutions to all their accounts.

As a new Coinhouse user, you will receive a €50 commission after creating and funding your accounts – and you can use that to buy more crypto. 

Features

• Supports 300+ cryptocurrencies
• Institutional-grade security
• 24/7 customer support available via phone, live chat or email
• Instant account verification 
• Regulated and in compliance with KYC and AML laws
• Free tax consultation

Cost

• Account Opening: Free
• Selling Fees: From 3.9% to 2%, depending on the account type
• Crypto-Swap Fee: 1.0% 
• SEPA Deposit: From 4.9% to 2%, depending on the account type
• Buy Offline: From 4.9% + €9.90 to 2%, depending on the account type

Signup Bonus

€50 signup bonus

Best For

Investors looking for top-level security and access to some of the newest cryptocurrencies.

What To Look For In A Great Icelander Crypto Exchange

I consider many different factors in my search for the best Icelander crypto exchange. Here are just a few of the more prominent ones:

• Supported coins: The best Icelander crypto exchanges support a wide variety of coins—at least 20 or 30—including all the major coins like Bitcoin, Ethereum, and Dogecoin. Platforms that add new coins regularly tend to be more customer-focused overall, making this a strong indicator of a forward-thinking exchange.
• User interface: Choosing a platform with an easy-to-use trading interface is important, especially for beginners. If you're a seasoned crypto investor, you'll also want to look out for exchanges that offer more advanced features like advanced order types and transaction exports for tax purposes.
• Fees: All crypto exchanges charge fees (both in the form of trading commissions and bid-ask spreads), and they can vary by a wide margin. I've specifically chosen low-fee platforms here to help you maximize your profits.
• Regulation: It's much safer to trade with a well-regulated exchange than an unregulated one, especially when markets aren't moving in your favor. Depositors' insurance is another safeguard offered by some exchanges, which keeps your assets safe even if the platform itself faces liquidity issues.
• Deposit & withdrawal options: The exchange you choose should offer a variety of payment methods (bank transfers, debit/credit cards, PayPal, etc.) to ensure you can easily transfer funds in and out of your account. The more options you have, the better.
• Security: Look for an exchange that strictly enforces multiple layers of security, such as two-factor authentication and at least 95% cold storage. Additional security measures like daily offsite backups, third-party security audits, and email confirmations on transactions make your account even more secure.
• Customer support: The best crypto exchanges pride themselves on having well-trained, responsive support teams who can help users through any problems that come up. I pay particular attention to the channels each exchange offers support through, response times, the thoroughness and helpfulness of their responses, and user feedback on the customer support they've received.

In Summary

Choosing the best cryptocurrency exchange in Iceland isn’t easy, given all the options out there and the different features each of them offers. As an avid crypto investor myself, I diligently keep up with the movements of the top exchanges in Iceland, and have made my selections below based on years of research and personal experience.

Capital is the favorite among knowledgeable Icelander crypto investors, both for its high level of security and for its ease of use. Capital's fees are also extremely low, so if you’re looking for a secure, cost-effective way to buy and sell crypto in Iceland, I can’t recommend Capital highly enough.

Best Crypto Exchange Iceland FAQs

Which Icelander crypto exchange has the lowest fees?

The Icelander crypto exchange with the lowest fees is Capital or CMC Markets, depending on the specific crypto assets you're trading. In most cases, Capital will be the cheapest option.

What’s the best crypto wallet in Iceland?

The best crypto wallet is the Ledger Nano S hardware wallet. It is the best way to keep your private keys secure and, more importantly, offline. All Ledger wallets are certified by the French National Agency of Security and are among the safest and most cost-efficient wallets out there, and they support 1,200+ crypto assets, coins, and tokens.

What’s the best altcoin exchange in Iceland?

The best altcoin exchange in Iceland is one of Capital or CMC Markets. Both of them support a wide variety of cryptocurrencies and regularly add more of the altcoins Icelander investors are looking for.

What is the safest crypto wallet in Iceland?

The Ledger Nano S is the safest wallet available today. All Ledger wallets far exceed industry standards for security: they use tamper-resistant Certified Secure Element (SE) with Common Criteria (CC) EAL5+ chips on their nanodevices, which means your private key stays on the secure chip. It also has a proprietary operating system called Blockchain Open Ledger Operating System (BOLOS) that's successfully undergone audits from the French National Agency of Security, many other government agencies, as well as regular audits from independent security organizations. 

What’s the safest crypto exchange in Iceland?

The safest cryptocurrency exchange in Iceland is Capital. They strictly enforce bank-level security protocols, run on servers in secure locations around the world, and undergo frequent financial and security audits to ensure all of their users’ assets are completely safe. They also have some of the lowest fees of any platform in Iceland and are known for being a reputable, trustworthy exchange.

How Can I Sell Bitcoin In Iceland?

There are several different ways to sell Bitcoin in Iceland, though the easiest is to sell it directly from the crypto wallet or exchange that you’re holding it on. Remember to be cautious whenever you transfer coins between wallets, since blockchain transactions are irreversible.

What crypto exchange is best for beginners in Iceland?

The best crypto exchange for beginners in Iceland is Capital, followed by CMC Markets. Both are ideal for beginners because they verify accounts instantly, have easy-to-use trading platforms, and provide great customer support in case you need any help along the way.

Is cryptocurrency legal in Iceland?

Yes, cryptocurrency is legal in Iceland, and you can buy, sell and use crypto without breaking the law. However, cryptocurrency is not currently considered legal tender in Iceland, which means the Icelander government and Icelander businesses are not legally obligated to accept it as payment for goods and services.

What’s the best crypto app in Iceland?

The best crypto app in Iceland is Capital. Its mobile app is very easy to use, has a nice, modern interface, and has very good ratings and reviews on both the Apple App Store and the Google Play Store. If you live in a country like India or Hungary instead, you’ll have to double-check to ensure you can get the Capital app in your local app store.

What is the best crypto exchange for day trading in Iceland?

The best crypto exchange for day trading in Iceland is Capital, since it has low trading fees, tight spreads, and its prices update multiple times per second, giving day traders an upper hand over the rest of the market.

Can the Icelander government track cryptocurrency?

Yes. Just like in places like Humgary, Greenland, Greece and Germany, the Icelander tax authorities can track cryptocurrency trades and transactions—and not only when your digital assets interact with real-world institutions like banks. Some exchanges in Iceland are required by law to provide the government with information about their users’ transactions, including purchase price, purchase date, sale value, and all associated KYC data. If your tax returns don’t match the data the government receives from these exchanges, you may receive a fine.