How to Buy Crypto in Spain

The crypto popularity is growing: digital assets are actively used by both ordinary users and global companies around the world, including Spain. However, the higher the interest, the more questions arise about how to buy cryptocurrency and, most importantly, how legal it is.

In today's article, we will discuss famous and safe ways to buy crypto in Spain in detail and explore this topic from a legal perspective.

Is It Legal to Buy Cryptocurrencies in Spain?

Yes, it is legal to invest in crypto in Spain. The CNMV (Comisión Nacional del Mercado de Valores, or National Securities Market Commission) and the Bank of Spain regulate crypto assets, and these organs have not recognized crypto as legal tender. This means that you can safely buy and store cryptocurrencies in your wallets, but no one can force sellers in the country to accept Bitcoin, Solana, or any other coins as a means of payment.

As for trading, it is also legal. The main thing is that exchanges must follow Anti-Money Laundering (AML) rules and conduct Know Your Customer (KYC) procedures after registration. In other words, the legal norms regarding cryptocurrencies in Spain require platforms to verify the identity of their customers and combat funds obtained through criminal means.. Therefore, finding serious and understandable platforms is necessary if you do not want your money to be frozen.

Ways to Buy Crypto in Spain

Once you are familiar with all the nuances of the legislation, you can choose the most suitable option for purchasing crypto assets. There are many convenient ways in the country, so let's take a closer look at each option from different angles.

CEXs (Centralized Exchanges)

A centralized exchange is an online crypto platform that acts as an intermediary between the buyer and the seller. Users can be sure that they will be able to safely exchange one crypto asset for another; on some exchanges, you can make purchases with fiat money, such as euros.

Today, CEX is one of the most popular ways to buy crypto, and Cryptomus can be an excellent example of such a platform. It is a centralized exchange that offers more than 120 cryptocurrencies for trading and more than 40 fiat currencies for replenishing your wallet. With such a wide selection, you are sure to find a coin that suits your taste.

• Pros: wide selection of coins, high level of security.

• Cons: mandatory KYC verification.

P2P Trading

P2P (peer-to-peer) trading is a way to buy and sell cryptocurrency directly from another user. Such platforms act as intermediaries and guarantors: during the transaction, they block the crypto in escrow and transfer it after payment confirmation. This option is quite popular and gives you more freedom, as you can choose any payment method you like.

A big advantage is the low fees: for example, on the the Cryptomus P2P exchange, fees are only 0.1%.

• Pros: favorable rates, a large number of payment methods.

• Cons: transaction speed depends on the other party, verification is often required.

Crypto ATMs

A crypto ATM is a special machine that allows you to buy cryptocurrency with cash or a credit card. They are easy to use, just like regular ATMs, but the commission in this case will be higher than on online platforms.

A significant advantage is that Spain holds fourth place in the world ranking of countries where crypto ATMs can be found. This method of purchase is very popular, as there are about 100 crypto ATMs in the country, and this number is going to increase in the future.

• Pros: quick buying with cash and cards, a large number of crypto ATMs in the country.

• Cons: high fees, limited coin choice.

Step-by-Step Guide: How to Buy Crypto in Spain

To ensure that your crypto purchase in Spain goes without problems, we have prepared a comprehensive and detailed guide for you. Read it and follow each step to successfully achieve your goal:

Method 1: Through a Platform

• Step 1: Choose a platform and register there.

• Step 2: Complete the KYC procedure.

• Step 3: Make a purchase. Here we will describe in more detail the purchasing process on each platform, and you will select the most convenient option to buy cryptocurrency.

Step 1: Register on the Platform

Select a crypto platform and create an account there. At this stage, also take the time to secure your account: set a strong password and enable two-factor authentication (2FA) to protect your data and money from potential hacking.

Step 2: Complete KYC Procedure

As we mentioned earlier, in order to trade legally, an exchange must comply with AML and support the KYC procedure. Therefore, after registering, you need to pass KYC verification to gain access to financial transactions on the platform.

To confirm your identity, you will first need to take a selfie and then photograph your ID document. Next, upload both files to the platform. Wait for confirmation of completion of the procedure from the moderator.

Step 3: Choose the Most Convenient Way to Buy Cryptocurrency

We'll describe in detail how to purchase crypto on the platforms mentioned above, so you can learn more about the process.

CEX. After registering and completing KYC verification, you need to fund your account with euros. You can do this via bank transfer. Once the money is in your account, purchase the cryptocurrency. The process is simple: select the desired crypto and specify the amount you want to buy. Next, input your card information and verify the transaction with the 2FA code.

P2P Platform. To make a purchase on your chosen cryptocurrency exchange, first set the necessary filters: the amount of the desired cryptocurrency and the fiat currency (e.g., euros) for paying for the crypto; then select the most convenient payment method. For example, the Cryptomus P2P exchange can be an excellent option for buying, as the platform supports about 560 payment methods.

After setting up the filters, you will see a list of offers from sellers. Select the most suitable one and contact the potential trading partner to discuss the details. We recommend that you only trade with verified sellers to minimize the risk of fraud. If you cannot find a suitable offer in the list, create your own and wait for a response.

Method 2: via ATM

If you prefer to buy cryptocurrency offline, this option is perfect for you. Step-by-step guide on how to buy crypto in Spain using a crypto ATM:

1. Go to the machine and select the desired cryptocurrency from the menu (e.g., BTC or USDT).

2. Complete KYC verification.

3. Specify the purchase amount in euros.

4. Scan the QR code from your cryptocurrency wallet—the funds will be sent to it.

5. Insert cash or pay by card.

6. Confirm the transaction on the ATM screen.

7. Wait for the transaction to complete—the cryptocurrency will be credited to your wallet within a few minutes.

Simple Way to Buy Crypto with Your Credit Card

If you are looking for the easiest way to buy cryptocurrency in Spain, use your bank card. The process is as follows (using Cryptomus as an example).

Step 1: Register on the Cryptomus Platform

The registration process will take you just a few minutes, as you can log in using the most convenient method, including Telegram, Facebook, or Google. At this stage, enable 2FA to protect your data and money from potential hacking by fraudsters.

Step 2: Complete the KYC Verification

Cryptomus follows AML policy and adheres to high security measures, so KYC verification is a necessary part of the registration process. This will allow you to access financial transactions within the platform.

To complete verification, go to the “Settings” section. Then click on the KYC verification button, which is the third item in the list. Take a photo of your ID and a selfie, then upload these files to the site. This procedure allows the platform to verify that you are a real person and confirm your verification.

Step 3: Return to the Dashboard and Click “Receive”

Fill in all your criteria: select the desired cryptocurrency to buy and a suitable network. Then choose “Fiat” as a type of receive option when you’re buying any crypto with a debit or credit card.

Step 4: Fill in the Details

Click on “Receive via Mercuryo” and fill in the gap with the amount you’re going to pay in the preferred currency. The receiving amount of crypto will be automatically calculated in the payment form.

Step 5: Confirm Your Purchase

Next, fill in your email address for getting a verification code, and enter your debit or credit card details to make a purchase.

Well done! You’ve just bought cryptocurrency with a card without any complications. The funds will be credited to your personal wallet soon!

Do You Have to Pay Taxes on Cryptocurrency Investments?

In Spain, any profit from buying or selling cryptocurrency is subject to income tax as a capital gain. Depending on the size of your transactions, you will be required to pay tax at a rate of between 19% and 26%. If you already work as a professional and earn money on a regular basis, you should pay attention to other taxes, such as VAT (Value Added Tax), and comply with stricter accounting requirements.

Before trading, we recommend that you study the tax rate and amount in detail, as the data may change. In addition, to your personal tax return, regulated crypto platforms are required to report your transactions, which ensures greater tax transparency.

Buying cryptocurrency in Spain is a fairly simple process if you learn the basic rules in the legislation and follow them. It is also important to take a responsible approach to trading and storing cryptocurrencies, so choose reliable platforms such as Cryptomus.

If you have any questions, please email us or contact us on Telegram. We will be happy to help!