Hello, friends from Denmark!
We’re here to help you buy your first Bitcoin.
With Denmark having a general pro cryptocurrency stance and being in the European Union, pretty much all of the exchanges that are supported in the EU will be supported in Denmark.
Based on our team’s research, a summary of the best ways to buy Bitcoin in Denmark are:
Based out of San Francisco, California, Coinbase is considered by many to be the most beginner-friendly exchange.
Coinbase is a brokerage, meaning that instead of buying Bitcoin and other cryptocurrencies from other users, you are buying directly from Coinbase. As far as fees go, Coinbase charges 3.99% on credit and debit purchases, and 1.49% on bank account purchases.
Due to the lower fees involved, it's recommended to use your bank account when making large purchases.Visit Coinbase Read Review
Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases. They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 46 US States, and most countries.
Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to. As long as you have your own wallet, this shouldn’t be an issue!
Coinmama charges a fee of around 5% for credit and debit purchases with instant delivery and high purchasing limits of a max of $5,000 daily and $20,000 monthly.
Click here to see a step by step guide on how to purchase Bitcoin on Coinmama.Visit Coinmama Read Review
eToro is an interesting option when it comes to cryptocurrency brokers. What sets eToro apart is their social trading and copy trading features, allowing you to view the most successful traders on the platform, and mimic their trades as part of your trading strategy.
eToro only supports deposits via bank account, so if you were planning to use a card that won't be possible. For fees, eToro charges differently depending on the coin. Expect a .75% fee when trading Bitcoin.Visit eToro
Bitpanda, called by some the Coinbase of Europe, is a popular brokerage that sells Bitcoin, Ethereum, Ripple, and more for US Dollars, Euros, British Pounds, and Swiss Francs. The exchange has several payment methods such as bank transfers, credit cards, debit cards, Skrill, Neteller, and more.
When it comes time to transact on the exchange, Bitpanda charges 1.49% for buys, and 1.29% on sells making them an extremely competitive option.
LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange. On the exchange, users to trade among themselves by posting a quick buy or quick sell ad on the exchange platform. Fees and limits will depend on the offer or ad that you select.Visit LocalBitcoins Read Review
Bitcoin is absolutely legal in Denmark as a payment tool and an investment vehicle, that being said, it’s not legal tender as is the case in most places. The Danish government specifically has not pushed out too much legislation regarding cryptocurrency. Their main stance is tolerant but aware of the AML issues that come with it. Here’s what they’ve said:
However, the Danish Financial Supervisory Authority has issued statements explaining that Danish laws may apply depending on the nature of the crypto asset and how it is used.
Have you ever known a government to not get the most money they can? In December of 2019, the Danish government sent over 20,000 warnings letters to cryptocurrency owners asking them to correct their tax returns and that Bitcoin and crypto are in fact subject to tax returns. We recommend speaking with a tax professional, but from the research, we’ve conducted it is taxed like any other asset or property, subject to capital gains tax.
If you’d like some help on your cryptocurrency taxes, check out our post on cryptocurrency tax software.
At press time, there are no Bitcoin ATMs in Denmark. We find this unusual given the European Union’s general stance on cryptocurrency and Bitcoin. That being said, some neighboring countries like Germany, the Netherlands, and Sweden have Bitcoin ATMs if this is the method you want to use.
Now that you have some background on the best ways to buy Bitcoin in Denmark, along with the status on the legality and tax situation, you should be ready to dive into the Bitcoin world. Remember that education is the key to staying safe and successful in the cryptocurrency world.
To recap, the best ways to buy Bitcoin in Denmark are: