How to buy Crypto and Bitcoin in Switzerland

Switzerland is often referred to as the "Crypto Nation" due to its progressive stance on blockchain and cryptocurrency. Home to the renowned Crypto Valley in Zug, Switzerland has cultivated a thriving ecosystem of crypto startups, exchanges, and owners (around 11% of the Swiss population owns cryptocurrencies), reflecting widespread adoption and trust in digital assets.

For residents and visitors, the CEX.IO crypto platform may offer secure and straightforward choices for buying Bitcoin and over 200 other cryptocurrencies. Features such as the Crypto Debit Card only enhance the user experience, allowing Swiss crypto holders to spend their assets seamlessly in both online and in-store settings.

This guide covers how to buy crypto using CEX.IO and explores Switzerland’s supportive regulatory framework for digital assets.

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

CEX.IO offers many ways for Swiss-based users to acquire crypto. Experienced enthusiasts can utilize Spot Trading to trade crypto and fiat assets using our comprehensive price charts and advanced place orders. 

Those new to crypto can use Instant Buy to quickly obtain digital assets at the current market price. If you need help choosing the right crypto, our cryptocurrency prices page might be an ideal resource to gain quick insights about the latest price movements and market cap.

Below, we outline the steps for buying crypto through Instant Buy: 

1. Register and verify your account to receive a free Bitcoin wallet for buying, selling, storing, and trading crypto.
2. Log in using your established credentials. 
3. Navigate to Instant Buy through the dashboard, or you may find this functionality under the Products menu. 
4. From the dropdown menu, choose your preferred digital asset. 
5. Next, select the fiat currency you want to use for the purchase. We currency accept EUR, USD, and GBP. 
6. Specify the amount of fiat you want to spend on your purchase. 
7. Choose your preferred payment method from the list of available assets. Make sure the method of your choice is supported in Switzerland. 
8. Review all transaction details to make sure the payment information is in order. 
9. Complete the transaction by following the on-page guidance. 

Legal Framework and Regulations in Switzerland

Switzerland has one of the most comprehensive and favorable legal frameworks for cryptocurrencies in the world.

• Legal Status – Cryptocurrencies are recognized as assets under Swiss law, though they are not classified as legal tender. This means users can freely trade, buy, and sell crypto using platforms like CEX.IO.
• Taxation – Crypto holdings and transactions are taxed in Switzerland. Individuals must declare their holdings as part of their wealth tax, while rewards from trading may be subject to income tax. Using CEX.IO allows users to track their transactions efficiently, potentially simplifying tax reporting.
• Regulatory Environment – Switzerland requires exchanges to comply with KYC and AML regulations to ensure consumer safety. CEX.IO meets these standards, providing a secure platform for crypto enthusiasts.
• Government and Innovation – With the establishment of Crypto Valley, Switzerland has positioned itself as a global leader in blockchain innovation, offering a supportive environment for crypto users and startups alike.

FAQs

Is crypto taxed in Switzerland?

Yes, cryptocurrency holdings and profits are subject to taxation in Switzerland.

Is Bitcoin legal in Switzerland?

Yes, Bitcoin is legal and classified as an asset (property), enabling free trade and ownership.

Is there a Bitcoin ATM in Switzerland?

Yes, Switzerland has a network of Bitcoin ATMs, particularly in cities like Zurich and Geneva.

Do Swiss banks accept Bitcoin?

Yes, by 2023, many Swiss banks have embraced cryptocurrency, offering services tailored to crypto-asset banking and even accounts for crypto companies. While not all banks publicize these services, significant progress has been made in integrating digital assets into traditional banking.

For instance, PostFinance, one of Switzerland's major banks, partnered with Sygnum Bank in early 2023 to provide cryptocurrency services. Additionally, BBVA Switzerland became a global pioneer in 2021 by launching digital asset services without imposing net worth requirements, making it accessible to a broader range of customers.