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Bitcoin is legal in Norway and recognized by the Norwegian government, which classifies it as an asset. Even with this forward thinking environment, the country's central bank is not recommending cryptocurrenies as a replacement for goverment backed securities and fiat.

But large Norwegian companies, including Norwegian Air, are looking at ways to take these currencies. In fact, Norwegian Air Shuttle (NAS) CEO Stig Aleksander Kjos-Mathisen, is also co-founder of Norwegian Block Exchange (NBX). NBX hopes to evolve into a reliable marketplace for buying, selling and making payments in cryptocurrencies.

The Norwegian government owned NBX exchange

Thanks to Norway's Bitcoin-friendly policy, it's easy to trade as long as you're okay with verifying your identity first.

Most popular Bitcoin exchanges that serve the rest of Europe are available to Norwegian residents, including Coinbase and Coinmama.

First, you should make sure you have a secure wallet like a Trezor or a Nano S from Ledger, two of the most popular and trusted hardware wallets on the market.

Centralized exchanges are vulnerable to an attack like regular banks - keeping your Bitcoin on an exchange is an easy way to lose them.

Don't leave your Bitcoin's security to chance - storing it offline is the safest way to make sure nobody can take your coins.

Next, sign up with one of the Bitcoin exchanges listed above, making sure to verify your identity if necessary. From there, it's just a matter of connecting your supported payment type and buying Bitcoin.

Another way to buy Bitcoins in Norway 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.

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

• 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 Norway 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 Norway that allow you to buy litecoin and other crypto assets for good exchange rates.

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Bitcoin Norway SIM Swap Attack

On July 3rd, 2019, the cryptocurrency exchange Bitcoin Norway notified customers that they had stopped all trading activity while they reviewed each account for "quality testing" and would begin payouts the following week.

According to Nordic publication E24, Bitcoins Norway made another announcement the following Monday. It informed its customers that they would be focibly selling their funds at a 'significantly lower rate' due to an attack on their Bitcoin supplier Alphapoint.

AlphaPoint CEO Igor Telyatnikov relayed the following response:

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Profitably mining Bitcoin in Norway is not a good idea considering their cost of electricity is around NOK 1.09 (almost $0.10 US).

Euro cents per kw hour in Norway

Electricity cost and the price of Bitcoin are the two leading factors that determine Bitcoin mining profitability, not considering the startup cost of buying ASIC mining hardware, a space to set up, etc.

While their electricity is cheaper than that of the United States, it's still too expensive to turn a profit with the current price of Bitcoin.

If you want Bitcoin, mining is not the fastest, cheapest, or most straightforward way - instead, buying Bitcoin from one of the exchanges is far quicker.

Bitcoin has fallen far from its golden age of mining. If you want to calculate your profitability mining in Norway, you can use our Bitcoin mining profitability calculator.

There used to be a subsidy for cryptocurrency miners in terms of tax cuts on power purchases, but these ended in 2018.

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Does Coinbase work in Norway?

Citizens of Norway 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 Norway?

There is only one Bitcoin ATM in Norway, and it is located in the Babylon Damp in Kristiansand. It only supports buying, so if you are looking to sell, you'll need to use and exchange or localbitcoins.com

Use our Bitcoin ATM finder tool to get more info on that ATM.

What is the price of Bitcoin in Norway?

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.

Does Norway subsidize electricity for bitcoin mining?

The Norwegian government used to offer cryptocurrency miners a subsidy on the taxes they paid for electrcitiy, however that subsidy ended in November of 2018.

How do I cash out of Bitcoin in Norway?

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

As mentioned previously, you can also use automated teller machines (ATMs) to buy Bitcoin.

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.