Education
Which Crypto Exchange to Choose in Lithuania in 2026: 7 Criteria and How to Check the Licence
Choose an exchange by its licence, SEPA deposits, fees and data export, not by its ads. Here is the checklist, and how to verify a MiCA authorisation in a minute.
People looking for where to buy crypto for the first time usually start from an ad or a friend's tip. It is cheaper and safer to start from the other side: what the exchange has to prove. This article gives seven criteria we use ourselves, and a simple way to check a licence.
This is educational material, not financial advice. Rules and terms change, so always confirm the final details on the exchange itself and in the official registers.
Why the licence comes first
In the European Union, crypto-asset services are governed by the MiCA regulation. For existing firms the EU-wide transition ended on 1 July 2026, and in Lithuania it was shorter and ended on 1 January 2026. In practice, an exchange serving EU residents needs an authorisation in some member state, and that authorisation is valid across the Union.
A licence is not a guarantee of safety, but without one you have no protection at all: if the exchange stops, you would be chasing a claim outside EU law.
How to check a MiCA authorisation in one minute
- Open the register of crypto-asset service providers kept by ESMA (the European Securities and Markets Authority) and search for the company name.
- The legal entity matters, not the brand. The same exchange may operate through a separate EU company, so check which company your terms of use name.
- Compare the name with the website footer and the terms. If they differ, ask support or pick another exchange.
- The Bank of Lithuania publishes warnings about unlicensed firms on lb.lt. If a platform is mentioned there, do not use it.
The seven criteria
1. Licence and a real company
The company name, country and licence reference should be visible without digging. If you have to search for them, that is already a signal.
2. Depositing from your own bank by SEPA
A euro transfer over SEPA is usually the cheapest and clearest route. Cards often cost more, and third-party "swappers" are where most scams begin.
3. The full cost, not just the trading fee
Compare the sum of three things: the trading fee, the gap between buy and sell price (the spread), and the withdrawal fee. A low fee with a wide spread can cost more than a higher fee with a tight one. Take actual rates only from the exchange's own fee table, because they change.
4. Trade-history export for tax
In Lithuania every sale and swap is a taxable event, so later you will need the full history as a CSV. Before you send money, check that the exchange lets you download the whole year, not only the last three months.
5. How funds are held, and what the exchange says about it
Look for a clear description of how client assets are held, and whether the exchange publishes proof of reserves. You do not need to follow every detail, but if there is not a word about it, pick another.
6. Account security
Two-step verification through an authenticator app rather than SMS, a withdrawal-address whitelist and login alerts should be switched on straight away. They cost nothing and stop most account takeovers.
7. Language and help when something goes wrong
Check that support works in your time zone and in a language you can describe a problem in accurately. It is a dull criterion until the day it is the only one that matters.
Who meets these criteria
We recommend OKX: it operates through its EU entity OKX Europe and holds a MiCA authorisation, so it meets the first criterion. Other platforms exist, for example Kraken, Coinbase or Bybit. We do not recommend them here and promise nothing about them: if you are considering one, check it in the ESMA register and against these criteria yourself before you sign up.
OKX is an LCA partner: it takes euro deposits over SEPA and exports a trade history that our tax calculator accepts. That does not mean it fits everyone, so run the criteria above against your own situation first.
Disclosure: the link below is an LCA partner link. If you sign up through it, LCA may earn a commission at no extra cost to you. Check the current terms and any incentives on OKX itself.
Open OKX through the LCA link →
Partner link. You will need to verify your identity (KYC), as on any licensed EU exchange.
What to do on day one
- Switch on two-step verification and the withdrawal-address whitelist.
- Deposit a small amount you can afford to lose the first time, and test the whole loop: deposit, buy, sell, withdraw.
- Download the trade-history format on the day you open the account, and keep it. It saves a lot of time when you declare.
- Note every purchase: date, amount, price in euros. That is your acquisition cost.
Crypto tax in Lithuania: when you owe and how to declare →
Before you trade, it is worth knowing what counts as a taxable event in Lithuania.
Official sources
Written by the LCA team. Mentors Emzet and Aladdin have led the community since 2024. This is educational content, not investment advice.
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