The crypto industry is prevalent worldwide, and the Czech Republic is no exception. Many crypto enthusiasts live here, who not only use crypto assets but also create their projects. You need to get a Czech crypto license to start your own crypto business. It will allow you to work legally in this jurisdiction and throughout Europe. Today we want to discuss the best blockchain startups and companies operating lawfully in this jurisdiction.
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1. COINMATE a.s.
It is a Czech crypto exchange, one of the largest in Central and Eastern Europe. It was founded in 2014. Allows you to exchange euros and Czech crowns for 9 cryptocurrencies (including Bitcoin, Ethereum, and Litecoin). The minimum deposit here is only 1 euro. This platform has several advantages:
- The more significant the trading volume, the lower the commission;
- No commission for deposits in Czech crowns;
- No commission for miners;
- Good referral program.
Residents of the Czech Republic can easily use this platform to buy, exchange and store crypto assets. It’s completely legal.
2. Helenix company
This company aims to help crypto enthusiasts securely store their assets. It specializes in providing high-quality cryptographic hardware for cyber security. It sells cold storage crypto wallets that you can use to store crypto assets more securely.
It was founded in 2017 and registered in Prague.
3. Baserank
This company is engaged in crypto industry analytics and aims to help people to invest more successfully in the crypto industry. It provides reliable ratings and metrics that evaluate the risk and potential of crypto assets. These ratings are based on in-depth analysis, combining various methodologies, and are collected from multiple independent rating agencies and analysts.
This company was founded in 2019 and registered in Prague.
4. Platon Life
It is an educational platform, and the main goal is to tell everyone who wants as much information about the crypt as possible if they have never been connected. Here, crypto enthusiasts can get answers about how the blockchain works, what affects the value of the crypto, and many other aspects.
It was created in 2018 and now operates in Prague.
5. eToro
It is one of the most popular crypto exchanges in the Czech Republic and is regulated by the European Securities and Markets Authority (ESMA), CySEC, and FCA. It allows you to exchange 70 cryptocurrencies, 49 fiats, and more than 3 thousand shares. It provides fast and profitable deposits in CZK and has many payment systems.
6. Uphold
It is one of the largest and safest platforms in Europe. It is one of the few platforms that has passed a full audit and has proven that it is ready to work honestly and openly. It is registered with the FCA and allows exchanging of about 250 types of cryptocurrencies. All deposits and withdrawals here are free, and trading fees range from 0.8% to 1.2%, depending on the kind of assets you use.
7. OKX
Although this platform is registered in Hong Kong and Malta, it is hugely popular in the Czech Republic because it has proven that it is ready to work honestly and transparently. It supports over 340 crypto assets and offers very favorable conditions for deposits (free) and spot trading (commission is 0.1%)
How to start a crypto business in the Czech Republic?
If your company wants to operate in the Czech Republic legally, it must obtain a license in this jurisdiction or any of the European countries. To start a business here, you need to register a company and ensure that it meets all the requirements of government regulators. It will be good if you involve independent lawyers who will help you analyze your organization and take a fresh look at all the documents.
You need to choose the appropriate type of license, which will depend on your organization’s activities.
You also need to open a local bank account. It is worth saying that banks consider the crypto business associated with high risks, so they are reluctant to open an account. So, you must prepare irrefutable evidence that your organization can operate consistently. The bank account must contain the entire authorized capital of the company.
You need to approach the choice of personnel carefully. Your specialists must have at least 1 year of work experience in the relevant position, specialized education, and an impeccable reputation.
After completing the preparatory phase, you must apply for a license. State bodies will study the activities of your organization within a few weeks. After they make a favorable decision, you can start working.
