Source: Freepik
Key Takeaways
- Over 70% of Danish crypto owners are under 40, with projections estimating 900,000 Danes will own crypto by 2030.
- The Danish Tax Agency treats crypto as an asset, requiring individuals and businesses to track transactions and report capital gains.
- While places like John’s Hotdog Deli and Ferrari dealers accept crypto, mainstream retailers and supermarkets do not.
- Cards like UPay convert crypto to fiat at the point of sale, making it easier to spend crypto anywhere Visa or Mastercard is accepted.
An Overview of Crypto Spending in Denmark
Cryptocurrencies have evolved beyond their role as investment assets. It is now seen as legitimate mediums of exchange that offer speed, transparency, and lower transaction fees compared to traditional payment systems.
Denmark, known for its forward-thinking approach to technology and innovation, is at the forefront of this transformation. The country has witnessed a steady rise in crypto adoption, with a growing number of businesses accepting digital assets to meet the increasing demand from tech-savvy consumers.
As of 2024, EY and K33 Research stated that approximately 7% of adults in the Nordic countries, including Denmark, own cryptocurrencies, amounting to around 1.5 million individuals. Notably, over 70% of these crypto owners are under the age of 40.
The COVID-19 pandemic played a pivotal role in accelerating this trend, with more than 70% of Danish crypto owners entering the market after 2019. Projections from the research indicate that by 2030, nearly 900,000 Danes will own cryptocurrencies.
“The user penetration rate in Denmark’s Cryptocurrencies market will be 38.56% in 2025”
Denmark’s regulatory environment is relatively open to cryptocurrencies, though it emphasizes compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.
A growing number of Danish businesses, particularly in the e-commerce and tech sectors, have started accepting cryptocurrencies like Bitcoin, Ethereum, and others. This is facilitated by payment processors that convert crypto to fiat instantly.
The use of mobile wallets for crypto transactions is also on the rise, with apps like UPay gaining popularity among Danish users.
With improved regulatory clarity and user-friendly payment solutions, crypto spending in Denmark is likely to grow, particularly among younger generations and tech-forward businesses.
Read Also: Best Places to Spend Crypto in Isreal
Best Places To Spend Crypto In Denmark
| S/N | Best places to spend crypto in Denmark | Category |
| 1. | Travala | Travel |
| 2. | Bandholm Badehotel | Accommodation |
| 3. | Ferrari | Automobile |
| 4. | John’s Hotdog Deli | Food and Drinks |
| 5. | Bitrefill | Gift Cards |
| 6. | Crypto Casino | Gambling |
Travala
Travala is a highly flexible platform that allows you to book flights and hotels in Denmark using cryptocurrency. Travala accepts over 60 cryptocurrencies, including Bitcoin, Ethereum, USDT, DAI, Bitcoin Cash, Litecoin, and Monero, making it convenient for crypto enthusiasts.
To start planning your trip in Denmark, visit Travala’s platform and enjoy the convenience of paying with crypto while securing the best deals.
Bandholm Badehotel
Bandholm Badehotel is a renowned luxury hotel located on the picturesque coast of Lolland in Bandholm, Denmark. Situated by the sea, it offers guests picturesque views and a tranquil environment. The hotel features a variety of accommodations, including deluxe double rooms, superior double rooms, suites, and apartments, all designed to provide comfort and relaxation.
Bandholm Badehotel offers a seamless crypto payment option for a relaxing getaway or a fine dining experience by the sea.
Ferrari
Ferrari has extended its cryptocurrency payment system to its network of European dealers, including those in Denmark. This follows the successful launch of the initiative in the United States in 2023.
By the end of 2024, Ferrari expanded the option to additional countries in its international dealer network, where cryptocurrency transactions are legally recognized. Now, customers in Denmark can use cryptocurrencies like Bitcoin, Ethereum, USDC, and more to purchase their Ferrari vehicles.
To ensure secure transactions, Ferrari works with established cryptocurrency payment providers, enabling immediate conversion of cryptocurrencies into traditional currency, minimizing volatility risks.
John’s Hotdog Deli
John’s Hotdog Deli, established by John Michael Jensen in December 2005, is a renowned hotdog stand in Copenhagen, Denmark. It is located near the Copenhagen central train station and opposite the Tivoli Gardens’ main entrance, it offers a convenient spot for both locals and tourists.
The hotdog stand has been accepting Bitcoin as payment for hotdogs since 2015. The owner, John Michael Jensen says his background as a computer scientist initially sparked his interest in the currency.
“I like to be a little different from everyone else, and I’ve always been interested in new technology. It’s necessary to keep up with developments, and accepting Bitcoin as a payment method has given me a great response from customers.”
Bitrefill
Bitrefill is a versatile platform that enables users to purchase gift cards for various retailers using cryptocurrencies. It acts as a bridge between the crypto world and everyday shopping. In Denmark, Bitrefill allows you to acquire gift cards for popular brands such as Amazon, Starbucks, Walmart, Apple, Netflix, Airbnb, Uber, eBay, Roblox, Spotify, and Free Fire.
This provides an indirect way to spend your cryptocurrency at numerous establishments, making it easier to use digital assets for daily purchases. Supported cryptocurrencies include Bitcoin, Lightning, Ethereum, USDC, USDT, Binance Pay, Litecoin, Dogecoin, Dash, and more.
Crypto Casinos
There are several online casinos operating in Denmark that accept cryptocurrencies. These platforms offer a secure and anonymous way to place bets, with faster transactions compared to traditional payment methods. Many crypto casinos operate under international gaming licenses, providing access to slots, table games, and live dealer experiences.
While Bitcoin is the most commonly accepted cryptocurrency, many casinos also support other popular options. These may include Ethereum, Litecoin, Bitcoin Cash, and Dogecoin. Some casinos might even accept lesser-known altcoins. Check the payment methods section of each casino to see which cryptocurrencies they support.
Tools Used for Spending Crypto in Denmark
Source: Freepik
Crypto Debit Cards
Crypto debit cards are among the easiest ways to use cryptocurrency for everyday purchases without waiting for wider merchant adoption. Crypto debit cards allow users to spend their cryptocurrency at any merchant that accepts regular card payments. These cards convert crypto into Danish kroner (DKK) at the time of purchase, making them a practical solution for everyday transactions.
UPay’s crypto card works like a regular Visa or Mastercard, allowing users to pay at supermarkets, restaurants, gas stations, and online stores.
Bitcoin ATMs
Bitcoin ATMs allow users to buy and sell cryptocurrency for cash. These machines provide a way to convert crypto into Danish kroner instantly. Several Bitcoin ATMs are available in Copenhagen and near major tourist attractions. Fewer ATMs are also available in Aarhus & Odense.
Bitcoin ATMs can be convenient, but they often come with high transaction fees, which users should consider before converting their funds.
Gift Card Platforms
Gift card platforms allow users to indirectly spend cryptocurrency at businesses that do not accept it directly. By purchasing gift cards with crypto, users can shop at major retailers, restaurants, and online stores.
Tips To Spend Crypto In Denmark
Source: Freepik
Here are some essential tips to help you spend your crypto wisely in Denmark.
Use a Crypto Debit Card
Most businesses in Denmark do not accept direct crypto payments, but you can use a crypto debit card to spend your cryptocurrency anywhere that accepts regular card payments. These cards convert your crypto into Danish kroner (DKK) at the point of purchase. UPay crypto card is a good example and it can be used at supermarkets, gas stations, restaurants, and online stores, just like a regular Visa or Mastercard.
Understand Danish Crypto Taxes
Denmark’s tax authority, Skattestyrelsen, considers cryptocurrency as an asset rather than currency.
This means, If you profit from selling or spending crypto, you may have to pay capital gains tax (up to 42% for individuals). If you use crypto for personal spending, small purchases may not be taxable, but larger transactions could be subject to tax reporting.
Businesses that accept crypto must declare transactions and pay taxes accordingly.
To stay compliant, you should keep track of your crypto transactions and report them accurately to Skattestyrelsen.
Stay Updated on Regulations
Danish crypto regulations can change, and the government closely monitors the industry. If you plan to use crypto for business or frequent transactions, stay updated on legal changes.
Follow Skattestyrelsen’s website for crypto tax updates. Check the Danish Financial Supervisory Authority (FSA) for crypto regulations affecting businesses and financial institutions. Join Danish crypto communities on Telegram or Reddit to get real-time insights from other crypto users in Denmark.
Withdraw Cash from Bitcoin ATMs
If you need cash, you can withdraw Danish kroner from Bitcoin ATMs using your crypto wallet. These ATMs allow you to convert Bitcoin or other cryptocurrencies into cash.
Copenhagen has several Bitcoin ATMs in the city center and near tourist areas. Aarhus and Odense also have a few ATMs where you can buy and sell Bitcoin for cash.
Challenges in Spending Crypto In Denmark
Source: Freepik
While Denmark is a pioneer in technology and innovation, spending crypto here isn’t without its challenges. The key challenges of spending crypto in Denmark are:
Limited Merchant Adoption
Even though Denmark is considered crypto-friendly, the number of businesses that accept Bitcoin or other cryptocurrencies is still low. Most stores, restaurants, and service providers rely on traditional payment methods.
In major cities like Copenhagen and Aarhus, a few cafes, bars, and electronic stores accept Bitcoin. Outside of these areas, crypto acceptance is rare. Large retailers, supermarkets, and major online stores do not support direct crypto payments.
High Taxation on Crypto Transactions
Denmark has one of the strictest crypto tax policies in Europe. The Danish Tax Agency (Skattestyrelsen) treats cryptocurrency as an asset, not a currency.
Capital gains tax applies when selling or spending crypto, which can be as high as 42% for individuals. Record-keeping is mandatory – users must track every transaction, even for small purchases.
Businesses that accept crypto must convert it into Danish kroner and report it for tax purposes.
Volatility and Price Fluctuations
Cryptocurrency prices can change rapidly, which creates uncertainty when using them for payments. A transaction today could be worth significantly more or less tomorrow.
Danish Merchants may adjust prices frequently or refuse crypto payments to avoid losses. Consumers also may hesitate to spend crypto in case the value increases later.
Regulatory Uncertainty
Denmark does not ban cryptocurrency, but regulations continue to evolve. The government monitors crypto transactions to prevent money laundering. New rules could impose stricter reporting requirements for individuals and businesses.
Read Also: Best Places to Spend Crypto in Belgium
Conclusion
Spending cryptocurrency in Denmark is becoming more feasible, but several hurdles remain. While the country is known for its openness to innovation and digital finance, crypto adoption is still in its early stages. A handful of businesses, including hotels, luxury car dealerships, and select food vendors, accept crypto directly, but mainstream retailers and supermarkets continue to rely on traditional payment methods.
For those looking to spend their digital assets, crypto debit cards provide a practical solution by allowing transactions in Danish kroner at the point of sale. Platforms like Bitrefill further bridge the gap by enabling users to purchase gift cards for well-known brands, indirectly spending their crypto. Bitcoin ATMs in major cities like Copenhagen and Aarhus offer another alternative, though they come with high fees and limited availability.
Looking ahead, the adoption of crypto payments in Denmark is likely to grow as technology improves and regulations become clearer. More businesses may begin integrating crypto payment solutions, especially in the travel and luxury sectors, where crypto-friendly services are already gaining traction.
FAQs
Yes, but they are mostly in Copenhagen, Aarhus, and Odense. These ATMs allow cash withdrawals using Bitcoin, though fees can be high.
Using a crypto debit card like UPay is the most convenient way, as it allows you to spend crypto anywhere that accepts Visa or Mastercard.
Yes, platforms like Travala allow you to book hotels and flights with crypto, and Bitrefill offers gift cards for online stores like Amazon and Netflix.
Yes. Businesses that accept crypto must convert it to Danish kroner and report it for tax purposes.
