If you’re from Israel and want to buy Bitcoin, we’ve got you covered.
We’ve done the research, and the best ways to buy Bitcoin in Israel are.
Below, we’ll go in-depth on each of these options.
As far as Bits of Gold’s fees go, they charge 4.95% fees for their services, which is definitely close to many of the brokerages you’d find elsewhere in the world. The calculator on the home page of the site claims these as their limits:
Kraken is another popular exchange based in the United States that's been around since 2011. When it comes to currencies, Kraken supports dozens of cryptocurrencies and fiat currencies such as USD, GBP, and EUR.
Fees on the exchange can range from 0%-.26% depending on the type of order and your trading volume. For funding options, Kraken offers deposits in USD (FedWire), EUR (SEPA), and CAD(Wire & EFT).Visit Kraken 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
Bitcoin ATMs are a great way to buy Bitcoin with cash, and/or if privacy is the main concern.
Israel currently has six Bitcoin ATMs, with two being in Tel Aviv, two in Jerusalem, one in Herzilya, and the other in Netanya.
Bit2C is the largest cryptocurrency exchange in Israel and allows users to buy Bitcoin, Ethereum, Litecoin, and Grin with the Shekel. Their volume isn’t the highest, but that’s to be expected when an exchange operates in a specific region, especially one the size of Israel.
For fees, Bit2C charges a 1% fee on the buy and sell-side, regardless if you’re the order maker, or the one taking liquidity from the order book. While this is high compared to traditional exchanges, it’s still very low compared to brokerages, and the best fee you’ll find from a Shekel exclusive exchange.
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 completely legal in Israel, otherwise, exchanges wouldn’t even be allowed to operate! A recent 2019 Israeli court ruling supported the 2017 stance that Bitcoin is legal in Israel. Like most places, Israel does not consider Bitcoin to be legal tender, but citizens are certainly allowed to own and hold a cryptocurrency.
At the moment, Bitcoin is taxed just like any other capital gain at a pretty large percentage of 25%. That being said, recently, four members of Israel’s Knesset proposed to reclassify Bitcoin and other currencies over the 1 billion Shekel mark as distributed virtual currencies, allowing them to be taxed differently.
As always, it’s important to consult a tax professional when filing your cryptocurrency taxes. To help with taxes, we definitely recommend our guide on cryptocurrency tax software.
Now that you have some background on Bitcoin in Israel, here are some of the best places to get your hands on some.