How To Buy Crypto and Bitcoin in Serbia

Serbia, a nation renowned for its athletic prowess, has consistently punched above its weight on the global sports stage. From basketball's golden era to tennis' rising stars, the country's sporting achievements are legendary. But Serbia's talents extend far beyond the court and field. 

With a strategic vision for the future, the nation has also emerged as a pioneer in the digital field. One such groundbreaking initiative is the implementation of robust cryptocurrency regulations.

Serbia has positioned itself as a cryptocurrency-friendly nation by introducing the Law on Digital Assets in 2020. This law, which took effect in June 2021, provides a favorable tax environment for both individuals and businesses involved in cryptocurrency trading.

As a result, enthusiasts from Serbia can buy, sell, and trade digital assets on various regulated crypto exchange platforms. One such exchange, CEX.IO, offers a user-friendly interface, supporting different fiat currencies for deposit and withdrawals, and complies with Serbian cryptocurrency regulations, making it a popular choice for Serbian crypto aficionados. 

This guide explores how to utilize CEX.IO's secure platform and potentially favorable exchange rates to seamlessly buy Bitcoin and other cryptocurrencies in Serbia, taking advantage of the country's progressive crypto-friendly environment.

A Step-By-Step Guide: How To Buy Crypto in Serbia

CEX.IO offers multiple pathways for Serbian participants to explore Bitcoin and other 200+ digital assets. Crypto-savvy users familiar with technical and fundamental analysis can trade Bitcoin and other supported cryptocurrencies on Spot Trading. On the other hand, those looking to avoid complexities typically associated with trading can acquire crypto via Instant Buy. Our beginner-friendly feature allows eligible customers to seamlessly obtain digital assets by linking their crypto wallet, courtesy of CEX.IO, with their preferred payment method, like credit or debit cards. 

Below, we outline the steps for acquiring crypto via Instant Buy through web and mobile browsers: 

1. To initiate the registration process, go to the Create an Account function at the top right corner and follow the on-screen instructions to set up your wallet. 
2. Once you register, you need to verify your identity according to the KYC/AML requirements to unlock the full CEX.IO functionality. 
3. Navigate to Instant Buy from the homepage or under the Products menu within the top navigation bar. 
4. Specify the fiat currency you wish to use for purchasing Bitcoin or any other selected cryptocurrency. Currently, CEX.IO supports EUR, GBP, and USD. 
5. Choose the cryptocurrency you want to obtain from the list of vetted assets. 
6. Enter your desired purchase amount. Alternatively, you can choose from predefined packages. 
7. Select your preferred payment method and follow the on-screen instructions to complete the transaction. 

For mobile experience, enthusiasts from Serbia can download and install our mobile app compatible with iOS and Android operating systems. Here are the steps to buy cryptocurrency through the CEX.IO App: 

1. Launch the app following the in-app instructions. 
2. Navigate to the Wallet section. 
3. From there, locate the Buy function. 
4. Within the Buy section, select the preferred asset from the list of available cryptocurrencies. 
5. Enter your desired fiat currency you wish to allocate to acquiring crypto. 
6. Complete the transaction following the app directions. 

Disclaimer: The availability of certain funding methods may be limited by regulatory restrictions. To ensure a smooth crypto acquisition experience, we encourage our customers from Serbia to research the available payment methods in their respective jurisdictions before purchasing. 

Legal Framework and Regulations in Serbia

The introduction of the Law on Digital Assets in 2020, effective from June 2021, has laid the groundwork for a thriving crypto ecosystem, creating a favorable environment for cryptocurrency enthusiasts in Serbia. 

Cryptocurrency trading is subject to a 15% capital gains tax for individuals. However, Serbian crypto traders can apply for potential tax deductions, but only if proceeds are invested in Serbian companies or investment funds. Additionally, acquiring crypto through gifts or inheritance benefits from lower tax rates compared to other assets.

In an attempt to promote crypto activities among businesses, Serbia offers even greater tax advantages. Businesses with licenses to provide crypto services can be exempt from capital gains tax on digital assets acquired for resale. Furthermore, giving the proceeds back into the Serbian economy can lead to full tax exemption on capital gains.

How to convert Serbian Dinars to Bitcoin

While CEX.IO doesn't currently support Serbian Dinars (RSD) directly for Instant Buy or Spot Trading, there are still ways for eligible Serbian customers to acquire Bitcoin using our platform. 

Step 1: Choose Your Funding Method

CEX.IO offers several alternative payment methods that automatically convert Serbian Dinars into a supported fiat currency (USD, EUR, or GBP) for those without foreign* currency accounts. These methods include:

• Credit and debit cards
• Skrill
• Neteller
• Google Pay and Apple Pay

Step 2: Dinars Conversion

Once you choose your preferred payment method, the payment processor will instantly convert your Serbian Dinars into your selected fiat currency.

Step 3: Buy Bitcoin with Your Fiat Currency

With your chosen fiat currency now available in your CEX.IO wallet, you can head over to the Spot Trading section and select Bitcoin (BTC) from the list of available cryptocurrencies. Here, you can place a buy order to exchange your fiat currency for Bitcoin.

By following these steps, you can convert your Serbian Dinars to Bitcoin on CEX.IO, even though RSD isn't directly supported.

*Note: For Serbian customers holding foreign currency accounts, CEX.IO offers direct cryptocurrency purchases without the need for initial conversion from RSD to fiat currencies such as USD, EUR, or GBP. This allows for a more streamlined purchasing process.

FAQs

Is crypto legal in Serbia?

Yes, after the Law on Digital Assets from 2020, purchasing, selling, and trading crypto is legal in Serbia and is subject to taxation laws.

Can you buy USDT in Serbia?

Yes, enthusiasts from Serbia can buy, sell, and trade USDT without restrictions. In addition, eligible customers from Serbia can use our crypto swap platform, CEDEFI, to seamlessly convert their USDT for USDC, WBTC, and WETH. 

Is there a Bitcoin ATM in Serbia?

Yes, there are multiple Bitcoin ATMs located throughout Serbia. These machines allow BTC owners to conveniently convert their digital assets into cash. We recommend checking the latest crypto prices, available for both registered and non-registered users, before using a Bitcoin ATM to ensure the best possible exchange rate.