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Italy is thought to be one of the most crypto-friendly countries because it doesn’t have any laws or rules about crypto.
- Citizens have no restrictions on how they can acquire cryptocurrency, but they do run the risk of having their money associated with criminal activity if and when regulations are put in place.
- Even though citizens aren’t required to tell the Italian government about their crypto trading income, the government strongly recommends that they do so on their own.
Traders and investors should keep an eye out for potential developments in the future, as these could lead to significant regulatory changes that prevent a given exchange or coin from being supported within the country. That being said, you, as a trader, may lose crypto funds as an exchange or a coin gets delisted in the country.
Preferred Exchanges to Buy Crypto for Italian Customers
Can I Legally Use Crypto and Blockchain in Italy?
Due to the lack of cryptocurrency-specific legislation in Italy, the use of blockchain technology and cryptocurrency is technically a grey area. The only problem is that no laws prohibit it, and no legislation exists to make it illegal. Even though these things are said, the Italian government has not recognised any crypto asset as a legal way to pay.
- This means that they are not legal currency.
- Despite this, a number of Italian banks are free to decide for themselves if they wish to accept cryptocurrency deposits or provide cryptocurrency trading services.
How to Buy Cryptocurrency in Italy
It is as simple to acquire cryptocurrency in Italy as it is in any other free nation. So, if you want to buy crypto in Italy, you must:
To begin, you must have a verified account on a reputable crypto exchange platform. Coinbase, eToro, and Bitpanda are popular crypto exchanges in the country. You'd also need a wallet to store your cryptocurrency, such as the Ledger Nano X.
Now that you have a verified account, you can begin researching the tokens and coins available on the exchange platform. You can choose one or more coins that you believe are of interest to you and would be a good investment.
Then you'd need to fund your crypto exchange account. You can do this by transferring funds from your credit card, bank account, or e-wallet.
Finally, you can now purchase your desired cryptocurrency through the exchange platform.
Buy Bitcoin Anonymously in Italy?
One frequently asked question in the cryptocurrency community is whether it is possible to buy cryptocurrency anonymously, and the answer is yes.
There are some crypto exchanges that let you use their services without requiring any kind of KYC verification from their customers. But these aren’t completely anonymous because you usually have to show your ID to link the required bank account. But there are other ways to buy cryptocurrencies without revealing your identity.
- One of these is to use a Bitcoin ATM. That is, you have never purchased cryptocurrency anonymously. In some cases, Bitcoin ATMs let you buy Bitcoin with cash and stay anonymous. This makes it easy to make anonymous transactions.
- Other options include using a P2P transaction that does not require any crypto exchange. Outside of cryptocurrency exchanges, people buy and sell cryptocurrencies using fiat money. Transactions like this are frequently dangerous, but they can still be considered anonymous.
Using Debit or Credit Cards to Buy Crypto in Italy?
Yes, because there are no legal restrictions on crypto exchanges in Italy, citizens are free to buy cryptocurrencies in the country using debit and credit cards as long as the exchange accepts them.