Reviews
23
Aug
northcrypto review

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Northcrypto review

Northcrypto is a Finnish crypto exchange for buying, selling, and storing cryptocurrencies. Opening a new account with Northcrypto is easy and fast. You can deposit euros into your Northcrypto account via SEPA bank transfer.

You can buy eight popular cryptocurrencies from Northcrypto. Northcrypto charges a fixed 1% fee for all trades. You can also always withdraw the purchased cryptocurrencies to your wallet. Northcrypto does not automatically send information about your trades to local tax authorities.

Northcrypto is a very reliable and secure crypto exchange. Northcrypto can be recommended to all crypto investors who value a user-friendly and secure service.

Northcrypto review

Northcrypto is a Finnish crypto exchange for buying, selling, and storing cryptocurrencies. Northcrypto was founded in 2018. The website Northcrypto.com officially opened its doors in the spring of 2019. The company’s CEO is Ville Runola, and its headquarters is in Turku.

Northcrypto has gained a reliable and secure reputation among crypto investors. The company’s goal is to offer the most user-friendly cryptocurrency exchange. Northcrypto has achieved great success in reaching this goal. Northcrypto is a small crypto exchange in the global landscape but a significant operator in the Scandinavian market.

In recent years, Northcrypto has expanded its operations outside Finland. Northcrypto also serves customers from other European countries and provides a multi-language interface. Northcrypto has been translated into English, Spanish, Swedish, German, and Finnish.

The Finnish Financial Supervisory Authority regulates Northcrypto.

Northcrypto registration

Opening a new account with Northcrypto is easy and fast. You can directly access the registration form by clicking the button below.

Click here to register a new account

To open an account, enter your name and address details, password, and email address. Below is a picture of the Northcrypto registration form on a mobile device.

northcrypto.com frontpage

After registration, you move on to the second phase, where identity verification is done using bank credentials (for Finns) or a passport (for users outside Finland). Other cryptocurrency exchanges also carry out a similar process (KYC). Hence, it’s a completely standard procedure.

Setting up a Northcrypto account is an overall easy and smooth experience. If you encounter any problems using the service, you can get help from the Northcrypto support around the clock.

Northcrypto’s mobile app is available in both Apple’s and Google’s app stores. If you actively use the service on a mobile device, it is worth downloading after registration.

Northcrypto deposit

You can deposit euros into your Northcrypto account via SEPA bank transfer. Northcrypto does not currently support transfers made with debit or credit cards.

All deposits are made from the “My Account” view. You can deposit euros and cryptocurrencies into your account from this page.

my account view at northcrypto

Click the “Deposit” button next to the euro currency to deposit euros. The bank account details required for the transfer will be displayed on the screen. Using the account number shown on the screen is important to ensure a successful deposit.

SEPA transfers appear in the account within 1-2 business days. Most often, they are visible just a few hours after the transaction. Finnish customers have the option of an immediate deposit, which allows for quick access to funds without any delay in receiving them into their account.

If you want to deposit bitcoins or other cryptocurrencies into your account, click the “Deposit” button next to the desired coin. After this, you will see the address to which the transaction is made from your crypto wallet. The processing times for cryptocurrency transfers depend on the cryptocurrency used and the network congestion.

Northcrypto does not charge fees for bank or crypto deposits.

How to Buy and Sell Cryptocurrencies at Northcrypto

You can buy eight popular cryptocurrencies from Northcrypto. Below is a list of Northcrypto’s crypto selection:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Chainlink (LINK)
  • Aave (AAVE)
  • Polygon (MATIC)
  • Apecoin (APE)
  • USD Coin (USDC)

USD Coin is a stablecoin whose value is pegged to the US dollar. USDC essentially offers the opportunity to exchange some of your euro deposits into dollars if you keep funds in your account for dip purchases or monthly savings. Apecoin is the newest addition to Northcrypto’s selection.

Click the “Buy & Sell” link in the main menu to buy cryptocurrencies. A form for trading will open on your screen.

crypto buy northcrypto

The picture shows a transaction where 100 euros are used to buy bitcoins.

With this form, you can exchange any of the currencies offered by the service for one another. For example, you can sell bitcoins for euros or exchange Aave tokens for Ether. When you make a purchase, you will see the exchange rate that includes trading fees.

Northcrypto Fees

Northcrypto charges a fixed 1% fee for all trades. This is a slightly lower fee than many competing crypto exchanges are charging. This fee level can be considered one of Northcrypto’s strengths.

Northcrypto does not charge any fees for deposits. This applies to both euro deposits and deposits made with cryptocurrencies.

A transaction fee is always charged for transferring cryptocurrencies out. You can see these transfer fees in the table below.

CoinFee
Euro 1 €
Bitcoin (BTC) 0.0005 BTC
Litecoin (LTC) 0.001 LTC
Ethereum (ETH) 0.005 ETH
Chainlink (LINK) 0.5 LINK
Aave (AAVE) 0.1 AAVE
Polygon (MATIC) 20 MATIC
USD Coin (USDC) 20 USDC
ApeCoin (APE) 20 APE

Note that the transaction fee depends on the cryptocurrency used and the network congestion. Hence, fees may fluctuate from the above numbers, increasing and decreasing temporarily. You will always see the charged transaction fee when making a withdrawal.

Litecoin is the cheapest cryptocurrency to transfer among the currencies offered by Northcrypto. A fixed fee of 1 € is charged for withdrawals made in euros.

How to Make a Withdrawal from Northcrypto

You can also always withdraw the purchased cryptocurrencies to your wallet. Beginners can also store their coins in Northcrypto, as it is a safe and reliable service provider. However, we recommend all crypto investors learn how to use their crypto wallet and diversify at least some of their investments into cold storage.

Withdrawals are made from the “My Account” view, i.e., from the same page where deposits are made. Click the “Withdraw” link next to the desired cryptocurrency. After this, a form will appear on your screen where you enter the transaction details. The following image shows a withdrawal of Bitcoin taking place.

northcrypto withdrawal

Input your wallet address and the amount you wish to withdraw in the form provided. On this page, you will also see the fees charged for the transfer. They vary depending on the cryptocurrency used and the network congestion. Use the copy-paste function or QR code when using cryptocurrency addresses to avoid mistakes. Never try to enter a crypto address letter by letter.

You can also withdraw the euros in your account at any time. The withdrawal can only be made to a previously registered bank account.

Northcrypto and taxes

Northcrypto does not automatically send information about your trades to local tax authorities. Every cryptocurrency investor must take care of the calculation of capital gains and losses for each tax year. We recommend using a separate crypto tax program for this task.

We recommend Divly, which supports Northcrypto’s reports and the acquisition cost presumption used in Finland. Divly makes it very easy to account for trades made in Northcrypto!

Use the code BITCOINKESKUS23 when purchasing – you’ll get a 15% discount. Below is a picture of Divly’s homepage.

divly

Divly automatically calculates the capital gains and losses for the tax year if you enter the transactions into the program. Remember to enter purchases and sales and transfers to wallets or other exchanges. If you trade on other exchanges or hold cryptocurrencies in your wallets, you must enter this information into Divly.

You can download the transactions made in Northcrypto by clicking “Trade History” in the main menu.

Our Northcrypto experiences

Northcrypto is a very reliable and secure crypto exchange. Northcrypto is properly registered, and the Finnish Financial Supervisory Authority supervises its operations. Finnish authorities have thoroughly reviewed the company’s key personnel, operating methods, and assets.

We have only positive experiences with using Northcrypto. Many members of our team have been Northcrypto customers since 2019. There’s nothing but good things to say about the service.

Northcrypto’s slogan is “Buy cryptocurrencies safely and effortlessly.” Safe and effortless describe the service very well. Northcrypto is undoubtedly one of the most user-friendly services for buying cryptocurrencies.

Northcrypto has also gained a good reputation as a technically reliable service. Northcrypto has operated without problems throughout the years, and the website has not crashed even during the highest traffic times.

Right after its establishment, Northcrypto has been one of our most important partners. The cooperation with Northcrypto has always been flawless.

Northcrypto review – overview and final words

Northcrypto can be recommended to all crypto investors who value a user-friendly and secure service. Northcrypto’s features are suitable for both beginners and more experienced users.

Beginners appreciate the ease of use of Northcrypto, and the service offers all the most popular cryptocurrencies. Security and fees that are lower than many competitors appeal to industry professionals. Under Ville Runola’s leadership, Northcrypto has become an important player in the Finnish market.

Northcrypto is also taking steps outside of Finland, a positive sign of the company’s ambitions. Northcrypto’s growth will surely bring new features and even better service.

We strongly recommend checking out this service! Account opening is free, and no monthly or annual fees exist for using Northcrypto.

Open a Northcrypto account today!

Follow Northcrypto on Twitter with the handle @northcrypto. Northcrypto also has an active social media account on Instagram and TikTok.

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