Frequently Asked Questions

You can deposit in three ways:

Bank transfer. Transfer from any Icelandic bank account to account No. 0301-26-027012, kennitala 520717-0800. Our system checks for new deposits every few minutes, every day of the year, and they usually reach your account within minutes, including at night and at weekends. In rare cases, for example a bank outage or exceptionally high volume, it can take longer. Bank deposits are free.

Your krónur are converted to USDC automatically at Arion Bank's general USD selling rate, with no added spread. At weekends and on public holidays the last banking day's rate is used. See Fees and costs.

Blikk & Netgíró. Blikk and Netgíró deposits are instant, at any time of day, with a service fee as listed in our fee schedule.

Crypto deposit. You can deposit crypto to the deposit address shown under deposits in the app or on the web. Crypto deposits are free, and every supported coin except USDC can be deposited on its native network. Confirmation time depends on the blockchain. Read more about crypto deposits here.

Yes, the Myntkaup app is very popular amongst our customers! You can download it via the App Store or Google Play Store. You can also download the app by clicking on this link here.

We currently offer Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Cardano (ADA), XRP, Polkadot (DOT), Sui (SUI), Shiba Inu (SHIB), Dogecoin (DOGE), Chainlink (LINK), Hedera (HBAR) and USDC.

Every coin except USDC can be deposited and withdrawn to your own wallet on its native network (ERC-20 tokens on the Ethereum network). USDC can't currently be deposited or withdrawn on-chain.

Myntkaup is open and active 24/7, every day of the year, always. Buying and selling is an automatic process. The same applies to crypto deposits, Blikk and Netgíró deposits. Bank withdrawals and crypto withdrawals are processed with the consent of an employee for security reasons and therefore customers sometimes have to endure a short wait time if a bank withdrawal or crypto withdrawal is requested outside of service hours (09:00-23:59).

Myntkaup ehf. holds a crypto-asset service provider (CASP) licence under MiCA from the Central Bank of Iceland and is supervised by the Central Bank. Myntkaup has operated since 11 May 2020 and more than 25,000 customers are registered with us.

Client assets are legally segregated from Myntkaup's own assets and would be protected from creditors if the company went bankrupt. We never lend client assets or use them for our own investments. Crypto is secured with multi-party computation (MPC) technology from Fireblocks, and a significant part is held by Coinbase in Luxembourg and Kraken in Ireland, both licensed in the EU.

Read more on Licence and security.

You can withdraw crypto from your Myntkaup account to another wallet, either your own wallet or one on another platform. This applies to every supported coin except USDC. Make sure the withdrawal address is correct, as blockchain transfers can't be reversed. After you request a withdrawal, you confirm it with your PIN in the app and by email.

To get krónur into your bank account, sell your crypto and request a bank withdrawal (see the bank withdrawal question below). See the help article on crypto withdrawals.

Your year-end balance with Myntkaup is pre-registered on your tax return at the request of the Icelandic tax authorities. Your trades and realised gains are not pre-registered, and reporting them is your responsibility.

You can download your transaction history and year-end statement as CSV or PDF in the web app under Færslur → Export, or email myntkaup@myntkaup.is and we'll send them to you. Myntkaup doesn't give tax advice, so ask an accountant or the tax authority (Skatturinn) if you need help with your return.

When you sell crypto you receive USDC in your account. You can keep the USDC, use it to buy again, or request a bank withdrawal under Withdrawal ⇾ Bank Withdrawal and enter your bank account details.

Bank withdrawals have a fixed 7 USDC fee, and the USDC is converted to ISK at Arion Bank's general USD buying rate, with no added spread. At weekends and on public holidays the last banking day's rate is used. Bank withdrawals are processed every day and usually arrive the same day, often within hours.

See the help article on bank withdrawals and the example on Fees and costs.

You can find various educational content on the Myntkaup blog. Our most popular post is the article What is Bitcoin?. It answers in a simple way the most important questions regarding Bitcoin.

See the following link: blogg.myntkaup.is/hvad-er-bitcoin/

Buying and selling crypto has a 1.99% spread. When you buy, the quoted price is 1.99% above the market price, and when you sell it is 1.99% below. The spread is included in the quote you see before you confirm, and no other commission is charged on the trade.

Bank deposits are free, a bank withdrawal costs 7 USDC, and crypto withdrawals carry a network fee. All fees are in the Myntkaup fee schedule, with a worked example on Fees and costs.

Myntkaup has no hidden fees. All fees are listed in our fee schedule. The commission on buying and selling is a 1.99% spread included in the price you see, and no extra commission is charged.

On foreign crypto platforms, people commonly fund their accounts by card, and those deposits often cost around 3–10%, depending on the platform. ISK bank deposits with Myntkaup are free.

With Myntkaup you deposit Icelandic krónur by ordinary bank transfer, with no deposit fee and at the bank's general rate with no added spread. Deposits usually arrive within minutes, every day of the year.

On foreign platforms most people deposit by card, which commonly costs around 3–10%. Myntkaup is an Icelandic company licensed by the Central Bank of Iceland, and you can get help by email, or by phone if you ask for a call.

Many people who also trade on foreign platforms use Myntkaup to turn krónur into crypto and then move it to their own wallet or another platform.

Yes. Myntkaup ehf. received its crypto-asset service provider (CASP) licence under MiCA from the Central Bank of Iceland on 25 June 2026 and is supervised by the Central Bank. The licence covers custody and administration of crypto-assets on behalf of clients, exchange of crypto-assets for funds, exchange of crypto-assets for other crypto-assets, and transfer services for crypto-assets.

As of October 2026, Myntkaup is the only entry on the Central Bank's register of crypto-asset service providers. See also the Central Bank's announcement.

A cold wallet is a wallet that, unlike a hot wallet, is not connected to the internet. The most popular cold wallets are Ledger and Trezor. Nobody except the owner can access its funds, provided the owner keeps the private key safe.

To move crypto from your Myntkaup account to a cold wallet, request a crypto withdrawal to the wallet's address. This works for every supported coin except USDC.

If you plan to deposit and trade large amounts, contact myntkaup@myntkaup.is and we can discuss better rates.

To register you need Icelandic electronic ID (rafræn skilríki) or the Auðkenni app. Anyone with an Icelandic ID number (kennitala) can get electronic ID or the Auðkenni app.

You log in to Myntkaup with Icelandic electronic ID or the Auðkenni app. If you lose your phone, get a new one and set up electronic ID or the Auðkenni app again with Auðkenni, which is owned by the Icelandic government.

You don't lose your assets. They are tied to your kennitala, and once your electronic ID is set up again you can log in as before. You don't hold a private key with Myntkaup, so there is no key to lose.

If you need help, email myntkaup@myntkaup.is.

In the web app, go to Færslur → Export to download your transaction history and year-end statement as CSV or PDF. You can also email myntkaup@myntkaup.is and we'll send them to you.

Not yet. Recurring (automatic) purchases are on our roadmap but are not available today. Until then you can buy at any time in the app or on the web.

Heirs can contact us by email at myntkaup@myntkaup.is or through our contact form.

The person authorised to settle the estate provides confirmation from the District Commissioner (sýslumaður) of permission for private settlement (leyfi til einkaskipta) and authority to settle the estate. They can choose to have the assets sold and paid out in krónur to the estate's bank account, or transferred. It typically takes a few days.

The best way is to email myntkaup@myntkaup.is or use our contact form. If you'd rather talk on the phone, ask for a call and we'll ring you, typically within 48 hours and often sooner.