Before we dive into the detailed analysis, here's a summary of the most important facts about Fazil Crypto at a glance.
Fazil Crypto Quick Overview
| Score | |
| Established in | 2023 |
| Headquarters | Bilbao, Spain |
| Regulator | CNMV |
| Cryptocurrencies | 400+ |
| Trade Fee | 0.5% – 1% |
| MiCA regulation | Yes, starting in July 2025 |
| Minimum deposit | 1 € |
About Fazil Crypto: Origins and Who It's Intended For
Fazil Crypto is a Spanish cryptocurrency exchange founded in Bilbao in late 2023 as an evolution of Fazil Pay, the neobank that preceded it. It holds its own authorization from the CNMV under the framework MiCA, obtained in April 2026, for authorized cryptoasset services, and relies on Bitcoinforme S.L., the company behind Bit2Me, as its custody and liquidity provider. Furthermore, it has been registered with the Bank of Spain since its inception.
Pros
Buy starting at €1, with no minimum real deposit
MiCA authorization filed with the CNMV, with Bit2Me as the custodian
Pay by card or bank transfer—very convenient
Off-site vaults with HSM technology insured for up to €150 million
Cons
No futures or derivatives
Available only in Spain
Commissions ranging from 0.5% to 1%
No advanced trading tools
Its offering is designed for a very specific audience: Spanish users who have never bought cryptocurrency and want to do so through a Spanish-language app, without leaving an environment supervised by the Bank of Spain. There is no order book or advanced features: users buy and sell at market price, in just a few clicks, from their mobile devices.
Who is Fazil Crypto for? For Spanish users who want to buy their first Bitcoin or Ethereum easily, with support in Spanish, and with the peace of mind that comes from dealing with a Basque fintech company authorized by the CNMV.
Fazil Crypto for Businesses: Receiving and Making Payments in Cryptocurrency and Stablecoins
In April 2026, local media reported that Fazil Crypto was among the eleven operators authorized by the CNMV to provide cryptoasset services in Spain, alongside institutions such as BBVA and Kutxabank, with the difference being that Fazil Crypto offers more than 400 cryptocurrencies compared to the two or three assets in traditional banking.
In addition to individual users, Fazil Crypto has opened its platform to companies who want to trade cryptoassets as part of their daily activities. Thanks to its MiCA authorization, the company allows both individuals and businesses to buy, sell, exchange, send, and receive cryptocurrencies and stablecoins such as USDC or EURC, which in practice enables use cases such as collect customer invoices in stablecoins or do payments to vendors and freelancers in these same assets.
This approach aligns with a growing trend in the fintech sector: using stablecoins as a faster and more cost-effective means of receiving and making payments than traditional methods, especially for international transactions. By integrating this functionality into a a platform regulated and supervised by the CNMV, Fazil Crypto offers Spanish companies an alternative with the safeguards typical of a MiCA-authorized provider, without having to rely on unregulated third parties to manage their cryptoasset collections or payments.
What level of security does Fazil Crypto offer?
Security is one of the points Fazil Crypto emphasizes most often: customers' crypto funds are stored in cold storage with HSM technology and multi-signature, and they are insured up to 150 million euros through its provider and Ledger.
That trust is also reflected in how those who already use the platform rate it:
European regulation under the MiCA framework
The company relies on Bitcoinforme S.L., which is legally the same company behind Bit2Me, the Spanish exchange founded in 2014, as a provider of cryptoasset custody and liquidity. Bitcoinforme S.L. was authorized by the CNMV Pursuant to Regulation (EU) 2023/1114 (MiCA), by resolution dated July 28, 2025, file number 2025040670, to provide services related to the custody, purchase, sale, exchange, and transfer of cryptoassets.
In addition, in April 2026, the CNMV granted Basque Pay, S.L., the company that operates legally as Fazil Crypto, has obtained its own MiCA authorization to receive and transmit orders related to cryptoassets on behalf of clients. This authorization is distinct and independent from the one already held by Bitcoinforme S.L., meaning that Fazil Crypto now has its own license for this service while continuing to rely on Bitcoinforme S.L. for asset custody.
Prior to obtaining this authorization, Fazil Crypto was already registered independently with the Bank of Spain as a provider of virtual currency exchange and electronic wallet custody services, under number E044, while Bitcoinforme S.L. is listed in that same registry under number D592.
| Concept | Fazil Crypto |
|---|---|
| Cryptoasset service provider | Bitcoinforme S.L. (also known as Bit2Me) |
| MiCA Authorization | Fazil Crypto's (Basque Pay, S.L.) MiCA Authorization | CNMV, April 2026. |
| CNMV File | 2025040670 |
| Bank of Spain Registration (Fazil Crypto) | E044 |
| Bank of Spain Registration (Bitcoinforme S.L.) | D592 |
Custody and protection of funds
Among the main protective measures announced by the company are the following:
- Cold storage for most cryptoassets.
- HSM and multi-signature technology for private key management.
- Asset protection insurance of up to 150 million euros, through Bitcoinforme S.L. and Ledger.
- Free custody and storage as long as the account remains active, with no inactivity fees.
Account Security
At the user level, Fazil Crypto requires two-factor authentication for all transactions and withdrawals, and the identity verification (KYC) process is conducted using a DNI, NIE, or passport along with a selfie.
Pros
MiCA authorization filed with the CNMV, obtained in April 2026
Registered with the Bank of Spain since its launch
Cold storage with HSM technology and multi-signature
Insurance coverage of up to 150M€ in partnership with Ledger
No custody or inactivity fees
Cons
Custody continues to be handled by a third party, Bit2Me, although Fazil Crypto holds its own regulatory authorization
No publicly available audited statement of financial reserves
A young company with little track record in the industry
A small selection of verified reviews on Trustpilot
Where is Fazil Crypto available?
Fazil Crypto operates exclusively in Spain, thanks to the authorization granted to its cryptoasset service provider, Bitcoinforme S.L., by the CNMV under the MiCA regulation. Unlike other exchanges that seek pan-European coverage from day one, Fazil Crypto has chosen to focus all its resources on a single market—a decision evident in details such as support in Spanish, assistance with Spanish tax matters, and backing from local investors like Lanzadera.
This decision is aimed at a very specific audience: Spanish users buying their first cryptocurrency who value dealing with a fintech company that understands their language, their bank, and their tax authorities, rather than with an international exchange designed to serve two dozen countries at once. The company has repeatedly stated its intention to expand into other European markets in the future, but as of today, all of its operations—from registration to customer support—are designed exclusively for Spanish residents.
Fazil Crypto Fees: How Much Does Trading Really Cost?
According to its own documentation, Fazil Crypto uses a trading commission ranging from 0.5% to 1%, depending on the transaction amount, which is always displayed on the screen before you confirm the purchase or sale. There is no fixed public fee, so the final cost may vary depending on the amount of the transaction.
Did you know? If you cancel an order before it is executed, Fazil Crypto does not charge you any commission: the fee is only applied once the transaction is confirmed.
Deposits, Withdrawals, and Custody
Deposit euros via SEPA transfers are free, although it may take up to 48 business hours to appear in the account. With debit or credit card, the balance appears immediately, but a small surcharge may apply to cover the payment processor's fees; the exact amount depends on the card-issuing country and is always displayed before you confirm. Withdrawals to a bank account via SEPA are free, as are custody and storage, with no maintenance or inactivity fees.
| Concept | Cost on Fazil Crypto |
|---|---|
| Purchase, Sale, and Exchange Commission | 0.5% – 1%, by volume |
| Deposit via SEPA transfer | 0 € |
| Deposit with a debit or credit card | Variable payment processor fee |
| Withdrawal to a bank account (SEPA) | 0 € |
| Care and Maintenance | 0 € |
| Account Inactivity | 0 € |
| Sending Cryptocurrencies Between Fazil Crypto Wallets | 0 € |
Step-by-Step Guide to Opening an Account with Fazil Crypto
Opening an account with Fazil Crypto is designed to take just a few minutes and can be done entirely on your phone, without having to visit an office or sign any paperwork.
Step 1: Download the app
The entire process, including registration, is carried out through the app, which is available for both iOS and Android. The official website serves solely as an informational portal and directs users directly to the app download page: it is not possible to register or trade through the browser. After installing the app, simply create an account with your basic information to begin the verification process.
Step 2: Identity Verification (KYC)
Like any exchange regulated under MiCA, Fazil Crypto requires you to verify your identity before trading using your DNI, NIE, or passport, although Spanish nationals can only verify their identity with their DNI, along with a live selfie, to comply with anti-money laundering regulations. Both the company itself and several user reviews on Trustpilot agree that this process is usually completed in a matter of minutes.
Step 3: Link a payment method
To add funds, Fazil Crypto lets you choose between a SEPA transfer and a debit or credit card; the app has also added Apple Pay as the latest top-up method for iPhone users. When using a card, the balance usually appears almost immediately; with a SEPA transfer, it may take up to 48 business hours to appear in your account.
Did you know? When making purchases with a card, the daily limit is €5,000. If you need to spend more than that, you'll have to do so via a SEPA transfer, which has no maximum limit.
Step 4: First Deposit and First Purchase
There is no actual minimum deposit: you can start investing with as little as €1. Once your balance in euros is available in your wallet, you can make your first cryptocurrency purchase right from the app, with no additional steps required.
Summary of Requirements for Opening an Account with Fazil Crypto
- Be older than 18.
- You must reside in Spain, as the platform does not operate in other countries.
- Valid identification: DNI (required for Spanish nationals), NIE, or passport.
- A bank account and, if you prefer to pay by card, a debit or credit card in your name.
- Only one account per person is allowed: Fazil Crypto deletes any duplicate accounts it detects.
Important note: If you live outside of Spain, you cannot currently open an account with Fazil Crypto, although the company has expressed its intention to expand into other European markets in the future.
Available Cryptocurrencies
This Spanish exchange currently offers a selection of more than 400 cryptocurrencies, available assets include Bitcoin, Ethereum, Solana, Cardano, Litecoin, Polygon, and Shiba Inu, as well as stablecoins such as USDT and EURT. If you want to compare this offering with those of other platforms designed to help you get started with crypto, you can check out our guide to the Top 10 MiCA-Regulated Exchanges for Beginners in Spain.
Tax Assistance: A Key Differentiator
One of the features you don't often see on exchanges designed for beginners is Fazil Crypto's tax support section: the app allows you to Export all user activity, provides a TAX report compatible with CoinTracking and answers frequently asked questions about whether sales must be reported to the tax authorities or when Form 172 and Form 173 apply. It’s a tool that can save you a lot of time when filing your income tax return.
Fazil Crypto and Bit2Me: A Key Relationship for Understanding the Platform
Before comparing Fazil Crypto with other Spanish exchanges, it’s worth clarifying something that isn’t always obvious to users: its custody and liquidity provider, Bitcoinforme S.L., is the same company that operates Bit2Me, the Spanish exchange headquartered in Alicante and founded in 2014. Fazil Crypto was launched using Bit2Me’s technology and API to provide its customers with quick access to the crypto world, as explained by its CEO, Ignacio Santos, at the product launch.
This means that, in practice, the custody and part of Fazil Crypto's technical infrastructure relies on the same foundation that supports Bit2Me. However, this does not mean that Fazil Crypto operates under Bit2Me's regulatory umbrella: as of April 2026, Fazil Crypto holds its own MiCA authorization from the CNMV, granted to Basque Pay, S.L., to receive and transmit orders related to cryptoassets on behalf of clients. In other words, the relationship with Bit2Me is limited to custody and technology, while regulatory responsibility to the CNMV rests solely with Fazil Crypto.
In any case, both brands offer apps, fees, and user experiences that are completely different from the end customer’s perspective. Fazil Crypto focuses on a more minimalist app aimed at absolute beginners; Bit2Me, with over a decade of experience, offers a broader range of services for users who already have experience.
Fazil Crypto vs. Criptan
The most natural comparison for Fazil Crypto pits the platform against Criptan, its closest competitor in the Spanish market: both are Spanish fintech companies, authorized by the CNMV under MiCA, and they even share some of the same investors, as both have received backing from Juan Roig.
| Characteristic | Fazil Crypto | Criptan |
|---|---|---|
| Foundation | 2023 | 2018 |
| Headquarters | Getxo (Bizkaia) | Valencia |
| Regulation | MiCA Regulation (CNMV) | MiCA (CNMV) |
| Trade Fee | 0.5% – 1.4%, based on volume | 0,99% |
| Minimum deposit | 1 € | Not specified |
| SEPA deposits | Free | Free |
| Exchange type | HSM + multi-signature, via Bitcoinforme S.L. | Multi-signature, +80% cold storage funds |
| Asset Insurance | Up to 150M€ (Bitcoinforme S.L. and Ledger) | Up to 250M$ |
| Crypto Card | Currently unavailable | Yes, CriptanCard (Mastercard, with cashback) |
| Cryptocurrencies | +400 | +30 |
| Ideal for | Spanish users new to cryptocurrency | Anyone can access institutional-level returns |
The Basque fintech company is committed to simplicity: buy, sell, and not much else—with an app designed for people who have never dealt with cryptocurrency before, although it does include features such as the DCA and the loans secured by cryptocurrency For those who want to take things a step further without overcomplicating things. Criptan, with more years of experience and a custody infrastructure that doesn’t rely on third parties, offers a broader range of products—including a payment card and passive returns on assets—designed for users who want to get more out of their cryptocurrencies.
Important note: Despite having a five-year head start in the market, Criptan obtained its MiCA license at virtually the same time as Fazil Crypto.
Anyone looking for the most straightforward way to buy their first cryptocurrency in Spanish, without needing any additional features, will find Fazil Crypto to be a clear and accessible option starting at 1€. For those who also want to spend their cryptocurrencies using a card or earn passive income from them, Criptan is an equally solid Spanish alternative, with its own custody infrastructure.
Apps and Platform: How Do You Use Fazil Crypto in Your Daily Life?
The platform operates exclusively as a mobile app, available for iOS and Android, with no desktop version: unlike Finst or Bitvavo, the entire registration process and day-to-day operations take place on the phone, with no web platform option.
The navigation of the Fazil Crypto app is organized into a few clear sections:
- Euro wallet: to deposit and withdraw funds via card or bank transfer, and where the balance earned through the referral program is also accumulated.
- Cryptocurrency Wallet: to buy, sell, and trade cryptocurrencies and stablecoins such as USDT or EURT, with no fees for transferring funds between Fazil Crypto's own wallets.
- Loans: Apply for a loan in stablecoins using Bitcoin, Ethereum, or XRP as collateral.
- Wallet: Track the percentage gain or loss for each position, with prices available in euros or dollars.
The exchange has been adding features beyond simple buying and selling. Automated periodic investing (DCA) lets you schedule recurring purchases as often as you like, without having to remember to buy manually each time. Market alerts via push notifications alert you to significant price movements without needing to have the app open, and the referral program lets you earn additional balance by inviting other users, which is credited directly to your euro wallet.
In a short time, Fazil Crypto has added features typically found on established exchanges, DCA, loans y referred to, while still being an app designed for those starting from scratch.
In terms of access security, the app requires two-factor authentication (2FA) to log in to the account, in addition to the initial identity verification process. In terms of functionality, however, the app is limited to buying and selling at market price: it does not offer advanced order types such as limit or stop-loss orders, nor does it provide trading charts, which leaves it somewhat behind exchanges geared toward more active users.
Pros
Intuitive interface, designed for people who have never bought cryptocurrency before
Automated Dollar-Cost Averaging (DCA) to Buy Without Worrying About Market Timing
Stablecoin Loans Using Cryptocurrency as Collateral
Referral Program with Accumulating Balance in the Euro Wallet
Cons
No advanced order types (limit, stop-loss); only market buys and sells
No trading charts or technical analysis
With no web or desktop version, everything happens within the app
Final Verdict: Is Fazil Crypto Worth It in 2026?
Fazil Crypto works well for Spanish users who have never bought cryptocurrency and are looking for a simple app, in their own language, with the peace of mind that comes from a company registered with the Bank of Spain since 2023 and holding its own MiCA authorization from the CNMV since April 2026, relying on Bit2Me for asset custody. The ability to start investing with as little as 1€, along with features such as dollar-cost averaging (DCA), crypto-backed loans, and the referral program, are all pluses for this type of user.
The company has chosen to focus its efforts on making it as easy as possible for beginners to buy crypto, rather than competing for active traders or expanding outside of Spain, as Bitvavo and Finst do; that’s why its variable commission of up to 1% prioritizes transparency over the lowest price on the market. Its custody services are provided by Bit2Me, one of the industry’s most established providers, and although Fazil Crypto is a young brand, it has been backed by Lanzadera and European funding since its launch.
All things considered, Fazil Crypto is a good option for anyone in Spain taking their first steps into crypto who prioritizes simplicity and local trust over price. If you’re looking for the lowest possible fees, advanced trading tools, or the ability to trade from any EU country, you should consider alternatives with a broader range of features.
This review is based on publicly available information from the official Fazil Crypto website, its fee schedule and FAQs, its authorization published by the CNMV, and verified user reviews on Trustpilot.
Is Fazil Crypto not right for you? Explore other alternatives
Veteran exchange focused on security and compliance. Allows buying, selling, and staking, with pro tools and solid support.
Derivatives and copy trading-focused exchange with a fast app. Includes futures, multiple pairs, and advanced features for agile trading.
Leading global platform by trading volume. It offers spot and futures trading, staking, and a broad ecosystem with reduced fees through BNB.
European exchange with a clean interface and competitive fees. Ideal for trading crypto with SEPA transfers and stable liquidity in the European market.
Social trading and derivatives-focused platform with a simple interface. It includes copy trading, futures, and fast purchase options using a card.
Popular exchange for derivatives and spot trading, with high liquidity, a fast interface, and advanced tools geared toward active and professional traders.
Spanish exchange focused on ease of use, local support in Spanish, and integrated options for buying, saving, and custodial asset management.
Comprehensive platform offering spot, futures, and earn products. Strong global liquidity, pro tools, and a built-in Web3 wallet for active traders.
Great user experience. An intuitive and easy-to-use platform, ideal for investing in cryptocurrencies with ease.