Buy Bitcoin in Denmark
Bitpanda
Bitpanda
Bitpanda is a Bitcoin broker based in Europe.
They have high payment limits and low fees across their wide range of payment methods.
Bitpanda offers customers the option to buy bitcoins with credit card, debit card, SOFORT, Skrill, NETELLER, giropay, eps, SEPA, and Online Bank Transfer.
Recently added margin trading and combined order book, for a more efficient trading experience.
- Some of the lowest fees for buying bitcoins with credit/debit card
- Reliable and trusted broker
- Fees aren't shown openly on the site but instead included in the buying price
Kraken
Kraken
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries.
Deposits can be made via bank wire, SEPA, ACH and SWIFT. Users can buy bitcoin, ethereum, dogecoin and dozens of other coins.
- Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
- Very low maker fee, falling to 0% with sufficient trading volume
- Highly-rated for security and data protection
- Requires ID verification, so not private
Coinbase
Coinbase
Coinbase is the world's largest Bitcoin (BTC) broker. They represent an easy and fast way for new users to purchase bitcoins. Coinbase supports customers in over 30 countries, including the United States, Europe, UK, Singapore, and Canada.
Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.
Get $5 in free bitcoin after you sign up on Coinbase and make your first trade.
- Trusted exchange with 100 million+ users
- Based in the USA; with a free wallet included
- App available on Apple App Store & Play Store
- Easy to use but fees can be high
- Coinbase may track how and where you spend your bitcoins
Bity
Bity
Bity is a Bitcoin exchange and ATM operator, based in Switzerland. Their 5 ATMs allow for a quick first purchase and only require phone verification for an initial buy limit of 1,000 EUR or CHF. Their online service accepts wire transfers, SOFORT and online bank transfers.
- Easy to start buying bitcoins after mobile phone verification
- Payment limit of up to €100,000 annually after intensive verification
- ID verification is required for most purchases, so not a private way to buy
- Low annual limit of only €4,000 without intensive verification
Bitcoin ATMs
Bitcoin ATMs
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
View Bitcoin ATM Map- Our map makes it super easy to find a Bitcoin ATM near you
- Bitcoin ATMs often have 5-10% fees per purchase
Bitfinex
Bitfinex
Hong Kong-based Bitfinex has long been one of the largest USD Bitcoin exchanges in the world. Bitfinex accounts may be funded by bank wire only, their fee on accepting such transfers is low at only 0.1%.
In August 2016, however, it was hacked and lost around 30% of its users funds. While Bitfinex can be helpful for buying large amounts of bitcoins, it is probably best to not use the exchange until it fully compensates affected users.
- Very low fees even for low volume buyers; 0.1% for market makers and 0.2% for market takers
- One of the best ways to buy large amounts of bitcoins
- Allows lending of fiat or bitcoin to margin traders at interest (but this is risky in light of the hack)
- Very deep liquidity promotes a price close to fair market rate
- Supports several altcoins
- Was recently hacked and has yet to fully compensate all users for their loss
- Geared towards traders; possibly quite confusing for first time buyers
- Single payment option
Bitstamp
Bitstamp
Bitstamp is one of the world's largest and most well-known Bitcoin & crypto exchanges. Deposits can be made through bank transfer, SEPA transfer, international bank wire, and now even credit cards.
- One of the longest-running Bitcoin exchanges
- Very low 0.25% fee, falling to 0.1% with sufficient trading volume
- Offers wide range of altcoins
- High 8% fee on small credit card purchases, falling to 5% with sufficient trading volume
Bitcoin & Cryptocurrency Trading in Denmark
Denmark's Population and Bitcoin
- Denmark has a population of over 5.8 million people as of 2021.
- The population is among the best educated in Europe.
- Residents show a significant interest in Bitcoin.
Denmark's Contribution to Blockchain
- The country plays a role in blockchain technology development.
- This is due to Denmark's warm investment climate.
Government's Stance on Bitcoin
- The government doesn't regulate Bitcoin.
- Bitcoin isn't seen as legal tender.
- Bitcoin can be used as an asset and a good.
- Residents can use Bitcoin for any legal activity and supported exchanges.
Tax Implications
In 2021, there was a crackdown on tax evasion related to cryptocurrency:
- In February 2021, the Danish Tax Agency reported 48 people to their crimes unit for tax code violations related to crypto earnings.
- Note: It's crucial to understand the tax requirements for gains and losses from trading in bitcoin.
Buying Bitcoin in Denmark is fast and easy. There are more than 20 popular exchanges available to residents of Denmark, including Coinbase and Coinmama.
Both of those exchanges have built-in wallets where you can store your Bitcoin and other tokens, as do most of the exchanges on this list.
But that doesn't mean you should use them - storing your Bitcoin on an exchange is risky, as wallets on centralized exchanges aren't secure.
Using a hardware wallet to store your private key securely is the best way to protect your investment, which should be of the utmost priority. We recommend the Coldcard or Trezor T, two of the most popular and trusted wallets on the market.
After your wallet situation is taken care of, it's all downhill from there. Choose one of the exchanges above, verify your identity (if necessary), and trade away.
If privacy is a concern for you and you'd prefer not to expose your identity, Denmark also has three Bitcoin ATMs, which are usually far more private than an online exchange. You can locate Bitcoin ATMs in Denmark using our Bitcoin ATM Map.
Exchange Hacks and Crypto Scams in Denmark
As of September of 2020, we could find no exchange hacks or significant scams affecting Denmark or its citizens. We will update this page if/when any news of scams or exchange hacks occur in Denmark.
Bitcoin Mining in Denmark
Denmark is probably one of the last places on earth you'd want to mine Bitcoin. Electricity prices in Denmark are absurdly high in comparison to countries like China, India, Kuwait, and Georgia.
Your hash rate to power consumption ratio is key for Bitcoin mining profitability, and they're two variables you have control over in the profitability equation.
Using the latest, most efficient mining hardware is the first step. At the time of writing, Bitmain's Antminer S19 is top-of-the-line, hashing at 95 Th/s, and drawing 3250 watts from the wall.
When we plug those numbers into our mining profitability calculator, and using Denmark's electricity price of $0.30 per kWh, profitability comes out to negative $6,700 per year.
The same miner would turn a profit of $1,162 with the current price of BTC in Kuwait because Kuwait's electricity is only $0.02 per kWh.
Bitcoin mining may be a profitable way to acquire Bitcoin for tech-savvy individuals with a lot of time, energy, and money to invest upfront, but only in certain situations, and certainly not in Denmark.
If you want Bitcoin now, buying it from an exchange or a peer is your best bet.
Recent Bitcoin Trends in Denmark
New Regulations
Denmark's financial regulators have instructed local banks not to hold cryptocurrency as a hedge against trading risks. On July 4, the Danish Financial Supervisory Authority (DFSA) directed Saxo Bank to liquidate its cryptocurrency holdings.
- DFSA argues that the bank's involvement in crypto is "outside of the legal business area of financial institutions," as referenced in Denmark's Financial Business Act.
- Saxo Bank lets clients trade various cryptocurrency products and also provides crypto-linked exchange-traded funds and notes.
- The bank has its own cryptocurrency portfolio, used as a hedge against the market risks of its crypto offerings.
- According to Annex 1 of the Financial Business Act, cryptocurrency trading isn't legally covered by financial institutions in Denmark.
However, the DFSA's order does not prevent Saxo Bank from offering crypto services. The bank stated that this directive will have a "very limited impact" on its operations and no significant changes for its customers.
Danish Authorities Grant Full Payments License to Crypto Financial Firm Januar
On April 19, Danish startup Januar received a Payment Institution License from the Financial Supervisory Authority (DFSA). This allows them to operate in 30 European Economic Area markets. Januar connects crypto businesses to IBAN infrastructure, enabling them access to compliant fiat banking services. The firm, founded by former Chainalysis staff in 2021, addresses the industry's banking service challenges.
FAQ
Does Coinbase work in Denmark?
- Bank Deposit
- PayPal
- 3D Secure Credit Card
- Debit Card
- Credit Card
What is the price of Bitcoin in Denmark?
The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.
Which stores accept Bitcoin in Denmark?
Does Bitcoin use more electricity than Denmark?
By contrast, according to Digiconomist, Bitcoin consumes about 70 TWh of electricity and emits ~33 Mt of CO2 each year.
That means that Bitcoin actually consumes more than double the electricity that Denmark consumes while emitting about the same amount of CO2.
Denmark is considered the most climate friendly country in the world. Bitcoin emits about half the CO2 per KWh that Denmark does. So if Bitcoin were a country, it would actually be the most climate friendly country on Earth by double the next most climate friendly country.
How do I cash out of Bitcoin in Denmark?
BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.
- Coin Telegraph - Denmark orders Saxo Bank to erase cryptocurrency holdings, https://cointelegraph.com/news/denmark-orders-saxo-bank-to-erase-cryptocurrency-holdings
- Coin Telegraph - Crypto financial services provider Januar receives full Danish payments license, https://cointelegraph.com/news/crypto-financial-services-provider-januar-receives-full-danish-payments-license
- Study in Denmark - Denmark the most climate-friendly country, https://studyindenmark.dk/news/denmark-the-most-climate-friendly-country
- International Energy Agency - Denmark, https://www.iea.org/countries/denmark