If you’re looking to buy bitcoin in Hungary, there are plenty of options available. Whether you’re new to crypto or an experienced investor, there are exchanges and wallets to suit your needs.
Purchasing bitcoin in Hungary is easy thanks to the country’s crypto-friendly legislation. All you have to do is choose an exchange, verify your ID, connect your payment method and buy away!
Exchanges
There are many exchanges that offer Hungarian investors the chance to buy and sell bitcoin and other cryptocurrencies. The key is to choose an exchange that offers features you want and provides security to your assets.
A good exchange should also have a user interface that is easy to use and understand. They should also be secure and allow you to verify your identity easily.
OKX is a reliable crypto exchange that is registered with the Hungarian government and has been around since 2017. It offers a range of advanced tools including margin trading, futures, spot and options trading. Fees are low with zero deposit and withdrawal fees and a 0.1% flat trading fee on spot markets, as well as a 0.02%/0.07% maker/taker rebate.
Uphold is another popular exchange that also supports Hungarian deposits and offers a wide range of cryptocurrencies for trading and staking. Its user interface is easy to use and its customer support is excellent.
Wallets
If you’re looking to buy bitcoin in Hungary, there are several options. One of the most popular is Bybit, which allows customers to buy bitcoin using a debit card or credit card, with fees as low as 3.99%.
Another option is a private exchange like LocalBitcoins, which facilitates peer-to-peer transactions without requiring identity verification. Finally, there are Bitcoin ATMs in Hungary that allow you to purchase and sell cryptocurrencies using cash.
The safest way to store your bitcoin is in a wallet you control. This is called a self-custody wallet. This means that you don’t have to give someone else your private keys, which is important if you want to keep your coins safe.
For security, the best crypto wallets are hardware wallets such as the Ledger Nano S. These wallets keep your private keys safe and offline, far exceeding industry standards for security. They are certified by the French National Agency of Security and have undergone rigorous audits.
ATMs
If you’re traveling in Hungary and want to buy bitcoin without having to visit an exchange, you can do it through ATMs. These machines are available in many locations across the country, making them an easy way to purchase crypto.
Before you use an ATM to buy bitcoin, you should always make sure to choose the currency in which you wish to purchase it – this will save you a lot of money on fees and unnecessary conversion charges. Also, be aware that most ATMs will ask you to select a wallet address in the form of a QR code.
Dynamic currency conversion is a common service in many foreign ATMs, which can cost you more than you need to pay. It allows the machine to set its own exchange rate, which is often marked up from the mid-market rate.
Taxes
If you’re looking to buy Bitcoin in Hungary, there are a few ways to go about it. The first is by signing up with an exchange like Bybit https://www.bybit.com/en-US/ . Then, you’ll need to verify your identity and connect your payment method to complete the purchase.
Another way is to use a crypto ATM. These are machines that will allow you to instantly purchase and sell cryptocurrencies with cash. However, most of them require a phone number, so they aren’t as private as a software wallet.
The government of Hungary is trying to lure economic investment in the country through a tax cut on cryptocurrency transactions. It expects to generate billions of forints in additional budget receipts.
The legal framework for cryptocurrencies involves taxes that are very complex and depend on many factors. This makes it important to consult a qualified professional for further information.
