Although it is still a volatile market, permeated by speculation and with little regulation, many experienced and beginner investors dive headlong into this digital world of cryptocurrencies. After all, it is undeniable that they are here to stay. Therefore, it is necessary to think about the future of cryptocurrencies in Portugal.

In fact, many companies, even those in the commerce and retail sector, already accept Bitcoin as a form of payment for products and services, which means they are already out there. In fact, decentralization is one of the attractions of the cryptoactive market.

In other words, unlike what happened before 2008, blockchain technology allowed the system to leave the hands of large financial institutions and governments. On the one hand, this made it possible to reduce transaction costs and time. On the other hand, the lack of regulation still raises doubts about whether this market really has a future.

The fact is that in Portugal more is invested in digital assets than expected. Seen as a friendly country for crypto investors, the lack of taxation for such instruments is one of the reasons that, in a way, guarantees that the market has a promising future in the country. But is it really? Understand more below.

Portugal is one of the countries that transact the most cryptocurrencies on the European continent. The economy there has already been praised by its neighbors, when it comes to digital assets.

In addition to high investments, cryptocurrencies are already accepted in many places, including restaurants, bars, and others. For example, today it is possible to pay for a product or service in Portugal with a digital wallet that has cryptocurrencies, either by QR Code or card.

The market is growing, and this is combined with the fact that the country has intense tourism. Allowing cryptoactive transactions also means opening the economy beyond regional borders.

Furthermore, it is important to say that in Portugal there is no taxation when it comes to cryptocurrencies. Even though there is some regulation of some authorized brokers in the country, the lack of taxation is attractive for those who want to invest in blockchain technology instruments.

Furthermore, even if taxation is being discussed in the medium term, the market is still in favor of assets being transacted without major problems or costs.

Despite what has already been said above, we have to take into account that the cryptocurrency market is still volatile, speculative, high risk and with points that will eventually be targeted by regulations and laws.

This means that it is essential to do a lot of research before starting any type of investment in cryptocurrencies.

Part of this search involves choosing an authorized broker in Portugal, which not only ensures asset protection, but also guarantees good tools for short, medium and long-term transactions.

Basically, Banco de Portugal grants licenses to brokers that provide cryptocurrency transaction services through their platforms. And some of these services are listed below. See more about them now.

Portugal has increasingly become a country adept at the cryptoactive market. In addition to no taxation, the economy is already moving towards widespread acceptance of cryptocurrencies, whether as an investment or a way to pay for goods and services.

But, before you start in the digital universe, know that it is important to look for authorized brokers that guarantee not only convenience, but, above all, accessibility and security.

Therefore, see below the list of some of these brokers that we made for you. They are licensed by Banco de Portugal. However, there are still globally renowned ones, which operate both in the country and in the rest of the world.

Criptoloja began its activities in 2021 and is authorized to operate in the country by Banco de Portugal. In fact, it was the first service to be licensed in the country.

The broker allows you to buy, sell, receive and send Bitcoin and other digital currencies through the platform. The account is free and has a simple and secure configuration and interface. In addition, support works via email, chat or telephone.

Furthermore, Criptoloja offers connectivity with your bank account for deposits and withdrawals in euros.

Another licensed broker is Mind The Coin, which supports Bitcoin and Litecoin. It has locations in Alverca, Braga, Faro, Gaia, Lisbon and Maia for regular investors who have an account.

Additionally, it has Bitcoin terminals, also called Bitcoin ATM, where you can purchase digital assets instantly. 

In other words, if you are not a regular investor, you can use the terminals. However, if you want to become someone who frequently purchases cryptocurrencies, you can open an account with Mind The Coin quickly and safely.

Now, another brokerage that also received approval to provide transaction services between crypto assets and fiat currencies by the Bank of Portugal was Luso Digital Assets, which is based in Funchal, Madeira. 

The platform allows you to sell and buy cryptocurrencies in a simple, fast and secure way.

Unfortunately, there is not much information yet available about the service. However, the company says it is focused on establishing and following regulations for the cryptocurrency market in Portugal.

But, if you are still unsure about the procedure, see other brokers for buying cryptocurrencies in Portugal. Click on the content below and check it out!