The crypto market has seen an exponential jump over various factors in the last few months. For example, the spot crypto ETFs, approved in the US recently, drastically improved investor sentiments in the crypto market. As a result, Bitcoin soared to cross $50,000 after two years, sending bullish signals across the crypto community. All over the world, crypto is seeing heightened enthusiasm, and Slovakia is no exception! How to go about buying crypto in Slovakia, though?
As a beginner who wants to get into crypto trading in Slovakia, you might wonder where to start. Let’s explore how you can make your first crypto investment in Slovakia!
Crypto Trading in Slovakia
Slovakia has seen a stark increase in the number of virtual asset service providers (VASPs). The country has ten times more VASPs than France, even with a relatively much smaller population. The increasing numbers could mainly cater to the rising number of crypto traders in Slovakia, which amounted to 2.57% of its population by 2021.
At the same time, the government of Slovakia has also taken crypto-friendly measures to aid the industry. In 2023, a tax bill to reduce taxes from crypto trading received the majority of support from the National Council of Slovakia.
As a member of the European Union, Slovakia will also have a robust regulatory framework for crypto assets under the Markets in Crypto-Assets Act (MiCA). These regulatory measures could play an active role in establishing transparent norms for buying crypto in Slovakia.
Buying Crypto in Slovakia: A Step-by-Step Guide
There are several ways of buying crypto in Slovakia. Here are the major ones, which we have explained in detail:
Crypto Exchanges:
Crypto exchanges are one of the most popular methods of crypto trading in Slovakia. They work similarly to stock exchanges and enable you to trade crypto tokens on their platforms while hosting all well-known tokens. Moreover, you can also convert your fiat money into crypto via a crypto exchange and vice versa, making it a seamless process for you.
Millionero, a fast-growing and popular crypto exchange, can be the perfect option for you to make a crypto investment in Slovakia. With its user-friendly features, you can start trading smoothly on our platform and also derive benefits from Millionero’s attractive referral program!
Follow these steps to start crypto trading on Millionero:
- First, you must register on Millionero and create an account on the platform. Enter all the necessary details, and click on ‘Register.’
- Once you register successfully, you will be redirected to your dashboard with all your account details. Meanwhile, on the top-right section of the page, you can select the type of trade, whether it be spot crypto trading or perpetual trading.
- If you select spot trading, you will land on the spot trading page. Select your preferred crypto pair, and choose whether it will be a market or limit order. Enter the value of the order and click on ‘Buy.’ There you go, you made your first crypto trade on Millionero!
- Go to the perpetual trading section if you plan to make a perpetual trade using Millionero’s Perpetual Trading MAX feature. Enter the required details and make the trade to increase your chances of making up to 100x of your initial investment!
Crypto Brokerages
Crypto brokerages differ from crypto exchanges. They usually help you trade your digital assets and crypto tokens by acting as an intermediary between the buyer and seller. Therefore, they establish an indirect trading method, while crypto exchanges directly link traders. If you’re willing to trade with huge crypto holdings, a crypto brokerage may be helpful for you.
Crypto ETFs
Crypto ETFs work on the same principle as that of regular exchange-traded funds (ETFs). Crypto ETFs track the live prices of an underlying asset. These assets could be single crypto tokens, a group of them, or crypto and blockchain firms. By investing in crypto ETFs, you can indirectly gain exposure to the crypto market.
Crypto Mutual Funds
Professional fund managers manage crypto mutual funds. You can invest your money in a crypto mutual fund, and the fund, in turn, will invest the corpus in the crypto market. Thus, you can be a contributor to the fund and get access to the crypto market’s returns.
Buying Crypto in Slovakia: Building a Path Towards Financial Freedom
Slovakia’s favorable crypto tax regulations and Europe’s MiCA law maximize the country’s potential as a crypto hub. With the rising number of crypto investors, buying crypto in Slovakia will continue to trend in the coming years.
We hope our article will be helpful for you to start your crypto trading journey. So what are you waiting for? Join the surging crypto market using Millionero and increase your chances of building a path towards financial freedom in Slovakia!
Also, explore Millionero’s blog, which brings the latest trends, news articles, and blogs from the world of crypto to you!