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The Republic of Estonia is known for its low taxes compared to other EU members. Cryptocurrency is popular in Estonia, especially Bitcoin. Like most nations, the Estonian government does not acknowledge virtual currencies such a Bitcoin to be official tender.

Estonia’s government considers cryptocurrencies as “value represented in digital form”. More recently, a governamental plan was made to introduce a national cryptocurrency known as “estcoin”. But, the European Union opposed this initiative, so the Estonian government had to step back.

Despite the uncertainty regarding Bitcoin's future legislation in Estonia, the government does not restrict Bitcoin and other cryptocurrencies, making it easy to buy and sell Bitcoin.

Tallinn - the capital of Estonia

One of the easiest ways to buy Bitcoin in Estonia is through the cryptocurrency exchanges outlined above. There are more than 20 exchanges available to Estonian citizens, including some popular options like Coinbase and Coinmama. Most exchanges require identity verification due to the legislation in their country of origin, which may infringe on your privacy if you don't want to reveal your personal information.

If that's the case, LocalBitcoins is a great way to privately trade Bitcoin with people in Estonia, without having to reveal your identity.

Estonia also has several Bitcoin ATMs, including five in Tallinn. Bitcoin ATMs are by and large one of the most private ways to buy Bitcoin.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

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There are three main types of Bitcoin wallet and all of them are supported in Estonia:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Estonia that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Estonia that allow you to buy litecoin and other crypto assets for good exchange rates.

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Estonian e-residency program under close supervision

The E-residency program in Estonia was launched in 2014 and whoever wanted to get Estonian citizenship was able to get it, no matter where they actually lived. 70,000 persons are registered as Estonian e-residents

But lately, this program has been under close surveilance of the local police’s Financial Intelligence Unit, because some of the e–residents, who were holding companies abroad and who were helped by Estonian firms, have been suspected of cryptocurrency frauds through ICO scams.

The Estonian police want to bring justice to this case so that the e-residency program can regain its credibility once again.

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Electricity costs roughly EUR 0.15 per kWh in Estonia, which is a bit more expensive than electricity in the United States.

Even using the best Bitcoin mining hardware is not profitable in Estonia, considering their relatively high electricity prices.

Estonia electricity costs are actually on the lower end compared to other European nations, but it's high on the global charts. China's electricity costs roughly EUR 0.04 per kWh, in comparison.

According to our Bitcoin mining profitability calculator, you'd lose roughly EUR 3,000 using the Antminer S19, which is one of the best mining ASICs on the market.

In comparison, mining in Estonia with the same ASIC would make roughly EUR 900 per year.

If you want to turn a profit mining Bitcoin, think again - profitable mining is reserved for large companies that can mine at scale in countries with cheap electricity, like China.

For the average person, buying Bitcoin directly from an exchange is the best method to acquire cryptocurrency.

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Does Coinbase work in Estonia?

Citizens of Estonia can convert, buy, and sell cryptocurrencies with fiat. Supported payment methods are:

• Bank Deposit
• PayPal
• 3D Secure Credit Card
• Debit Card
• Credit Card

Where Can I Find a Bitcoin ATM in Estonia?

Estonia offers several Bitcoin ATMs for its citizens to buy Bitcoins with Cash.

You can use our Bitcoin ATM finder tool to find the one nearest you.

What is the price of Bitcoin in Estonia?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

How do I cash out of Bitcoin in Estonia?

Any exchange with a Euro trading pair will allow you to sell your Bitcoin for fiat currency. Bitpanda has EUR trading pairs for many popular coins.

Another way to sell Bitcoins in Estonia is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in Estonia using our Bitcoin ATM Map.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.