Key Takeaways
- Crypto adoption is growing in Hungary, with over 100 businesses accepting Bitcoin and other digital currencies.
- A variety of industries accept crypto payments in Hungary, including bars, cafes, dental clinics, electronics stores, and even law firms.
- Bitcoin ATMs are increasing across the country, with 55 located in Budapest and others in cities like Gyor, Kecskemét, and Pecs.
- Businesses use various crypto payment solutions, including direct on-chain transactions and Lightning Network payments
- Crypto spending tools like ATMs, wallets, and peer-to-peer platforms make digital transactions more accessible.
An Overview of Crypto Spending in Hungary
The popularity of cryptocurrencies in Hungary is evident from the increasing number of crypto-friendly businesses. There is a diverse range of services that now accept crypto payments in Hungary.
According to CoinColors, Hungary has around 100 businesses accepting cryptocurrencies, primarily Bitcoin, but also other major digital assets. These businesses include bars, restaurants, jewelers, and even taxis. Some dog schools, beekeepers, and law firms have also integrated crypto payments.
The increase in adoption is driven by the low cost and simplicity of accepting digital currencies. More players, such as card companies and payment gateways, are also exploring crypto payment solutions.
Bitcoin ATMs are spreading across the country, making it easier to buy and sell crypto. According to Coin ATM Radar, there are over 80 ATMs in Hungary, with 55 located in Budapest and others in cities like Gyor, Békéscsaba, Kecskemét, and Pecs. The first crypto ATM was introduced in Budapest nine years ago, and their numbers have steadily increased as more businesses recognize crypto as a payment option.
While Hungary’s regulatory framework for cryptocurrencies is still developing, the MICA law passed in April 2024 aligns the country’s crypto regulations with the European Union’s standards. This law focuses on consumer protection, financial stability, and innovation in the sector. It also covers the issuance, trading, and supervision of crypto-assets and sanctions for non-compliance.
Digital currencies are expected to be a key part of the country’s financial landscape, with the number of crypto users in Hungary scheduled to increase by 29.16% in 2025.
“In Hungary’s Cryptocurrencies market, the number of users is projected to reach 2.88m users by 2025.”
Best Places to Spend Crypto in Hungary
| S/N | Best Places to Spend Crypto in Hungary | Category |
| 1. | Synthesis Craft Beer | Drinks |
| 2. | Kisülés Kávéműhely | Drinks |
| 3. | Contident | Health |
| 4. | Be-Va Chip Kft. | Electronics |
| 5. | Peakshop | Health |
| 6. | MrSale | Clothing |
Synthesis Craft Beer
A microbrewery and taproom located at Római tér in Budapest, Hungary. Synthesis Craft Beeroffers a rotating selection of craft beers, including IPAs, stouts, lagers, and seasonal specialities. Their taproom provides a relaxed setting where visitors can enjoy fresh, locally brewed beer, often accompanied by food from nearby vendors or food trucks. Synthesis Craft Beer also stands out as one of the few establishments in Budapest that accept cryptocurrency payments.
Kisülés Kávéműhely
Kisülés Kávéműhely is a specialty coffee shop and roastery in Pécs, Hungary. The café offers a variety of espresso-based drinks, pour-over coffee, and other handcrafted beverages. The cozy and minimalist interior creates a welcoming atmosphere for customers looking to enjoy a great cup of coffee. Crypto enthusiasts will appreciate that the café accepts Bitcoin and Ethereum, too.
Contident
Contident is a Budapest-based dental clinic specializing in aesthetic and restorative dentistry, catering to local and international patients. The clinic is known for its expertise in e-max veneers, zirconia crowns, and dental implants, offering high-quality, metal-free solutions.
Contident provides various services, including smile makeovers, teeth whitening, and digital dentistry consultations. They attract many medical tourists due to their affordable pricing and the clinic accepts Bitcoin for its services.
Be-Va Chip Kft
Be-Va Chip Kft is an online electronics and computer hardware store based in Budapest, Hungary. The company offers a wide range of products, including laptops, desktops, computer components, networking devices, and accessories. Their website features an extensive catalog of high-performance hardware, with options for custom PC builds and bulk orders. They accept BTC, ETH, XMR as payments.
Peakshop
Peakshop is an online store specializing in high-quality dietary supplements, sports nutrition, and wellness products. Their catalog includes protein powders, vitamins, pre-workout formulas, and specialized health products designed for fitness enthusiasts, athletes, and individuals focused on maintaining a healthy lifestyle. The online store accepts payment via BitPay, with more than a dozen cryptocurrencies.
MrSale
MrSale is a clothing store at Weiner Leó utca 20, just two minutes from Nyugati Railway Station. While the store specializes in suits, it also offers casual clothing, jeans, workwear, and accessories. Customers can pay with bitcoin on their online store. Customers can pay directly via the Bitcoin network (on-chain) or via the Lightning Network, which provides lightning-fast payments with minimal transaction fees.
Tools Used for Spending Crypto in Hungary
Source: Freepik
Crypto ATMs
Crypto ATMs are one of the most accessible tools for spending cryptocurrencies in Hungary. According to Coin ATM Radar, over 80 Bitcoin ATMs are spread across 10 cities, with 55 located in Budapest. These ATMs allow users to exchange Bitcoin for fiat currency or spend it directly at participating businesses.
Prepaid Crypto Cards
Prepaid crypto cards are another popular tool for spending cryptocurrencies in Hungary. These cards allow users to load their digital assets and spend them at any merchant that accepts traditional debit or credit cards. Companies like UPay offer prepaid cards that can be used globally, including in Hungary.
Crypto Wallets
Crypto wallets are essential for storing and managing digital assets, and they also enable users to make direct payments to merchants who accept cryptocurrencies.
Peer-to-Peer (P2P) Platforms
P2P platforms allow users in Hungary to buy and sell cryptocurrencies directly with others. These platforms are particularly useful for those who prefer decentralized transactions or want to avoid intermediaries. When using P2P platforms, always verify the reputation of the counterparty and use escrow services to ensure secure transactions.
Tips for Spending Crypto in Hungary
Source: Freepik
Be Aware of the Transaction Fees
Some tools, like crypto ATMs and prepaid cards, may charge high transaction or conversion fees. Always check the transaction fees when using a crypto ATM, as they can vary significantly between machines. Additionally, ensure the ATM supports the cryptocurrency you intend to use.
Use Secure Tools
Always prioritize security when using crypto wallets, ATMs, or P2P platforms. Avoid sharing private keys or recovery phrases with anyone. Use a secure wallet with strong encryption and enable two-factor authentication (2FA) to protect your assets. Keep a backup of your wallet’s recovery phrase in a safe place.
Research Crypto-Friendly Businesses
Not all businesses accept crypto. Websites like Coinmap.org list Hungary’s crypto-friendly stores, cafes, and service providers.
Keep Tax Records
Hungary’s tax law requires crypto transactions to be recorded for tax purposes. From 2025, crypto earnings will be taxed at 16.5% (15% income tax + 1.5% Pension Fund contribution). Proper bookkeeping is necessary to avoid issues. Keep detailed records of all transactions to ensure compliance with tax regulations.
Challenges of Spending Crypto in Hungary
Source: Freepik
Regulatory Ambiguity
Hungary has aligned its crypto-asset regulations with the European Union’s Markets in Crypto-Assets (MiCA) framework, effective from June 30, 2024. This law categorizes crypto-assets and designates the National Bank of Hungary (MNB) as the supervisory authority. However, the legal status of cryptocurrencies remains complex. They are not recognized as legal tender, and their classification as “other assets” introduces uncertainties in their use for everyday transactions.
Taxation Complexities
Hungary imposes a 16.5% tax (15% income tax + 1.5% Pension Fund contribution) on income derived from cryptocurrency activities, including trading and mining. This rate is considered favorable within the EU. However, the tax applies only when cryptocurrencies are converted into fiat currency. Crypto-to-crypto transactions are not taxed, leading to potential complexities in tax reporting and compliance for users engaging in various types of transactions.
Consumer Protection Concerns
The National Bank of Hungary has warned about the risks associated with cryptocurrencies. Consumers may lose all invested funds and are advised to be cautious of misleading advertisements and potential fraud. The lack of recourse or protection under current EU financial services rules adds to consumer vulnerability.
High Transaction Fees
Crypto ATMs and prepaid cards often charge high transaction or conversion fees. For example, Bitcoin ATMs in Hungary may charge between 5% and 10% per transaction. This makes small purchases less cost-effective for individuals in Hungary
Conclusion
Hungary is one of the countries that is setting the stage for a more accessible digital economy. There are an increasing number of businesses across various industries accepting crypto payments. From craft beer taprooms and specialty coffee shops to dental clinics and electronics stores, consumers have more opportunities to use Bitcoin and other digital assets for everyday transactions.
This is driven by the ease of accepting crypto payments, lower transaction costs, and the increasing number of businesses recognizing the potential of digital currencies.
The expansion of Bitcoin ATMs and the availability of prepaid crypto cards further simplify spending. With over 80 crypto ATMs in Hungary and growing integration with major payment platforms, users can easily convert their assets into fiat or pay directly at participating merchants. Secure crypto wallets and peer-to-peer platforms offer alternative ways to manage and transfer funds.
For now, users should stay informed, prioritize security, and take advantage of the growing number of crypto-friendly businesses in the country. With careful planning and awareness of the challenges, spending crypto in Hungary can be a rewarding experience.
FAQs
Is cryptocurrency legal in Hungary?
Yes, cryptocurrencies are legal in Hungary, but are not recognized as legal tender. They are classified as “other assets” for tax purposes.
Which cryptocurrencies are accepted in Hungary?
Bitcoin is the most widely accepted, but some businesses also accept Ethereum, Tether, Monero, and other major cryptocurrencies.
Are there Bitcoin ATMs in Hungary?
Yes, Hungary has over 80 Bitcoin ATMs, with 55 located in Budapest and others in cities like Gyor, Kecskemét, and Pecs.
What tools can I use to spend crypto in Hungary?
You can use tools like crypto ATMs, prepaid cards, wallets, and peer-to-peer (P2P) platforms to spend crypto in Hungary.
