Nov 09, · With the U.S. Securities and Exchange Commission (SEC) yet to greenlight a Bitcoin exchange-traded fund (ETF), ETPs have become popular in Europe. Major stock exchanges in Austria, Germany, and Switzerland now list a host of Bitcoin ETPs. Indeed, many of these Bitcoin ETP offerings are available across multiple bourses in different countries. Kriptomat is a Bitcoin & crypto exchange based in Europe. It offers quick verification and the ability to buy bitcoin, ether, litecoin and other coins. Buyers can get coins using a credit card, debit card, SEPA, Skrill, Sofort and other payment methods. Bitcoin Exchanges Places to buy bitcoin in exchange for other currencies. Note: Exchanges provide highly varying degrees of safety, security, privacy, and control over your funds and information. Perform your own due diligence and choose a wallet where you will keep your bitcoin before selecting an .
European bitcoin tradingHow to Buy Bitcoin in Europe | Jean Galea
Indonesia Indodax. Israel Bits of Gold. Japan bitbank bitFlyer BtcBox. Kuwait Rain. Malaysia Luno. Oman Rain. Singapore Binance Mine Digital. South Korea Bithumb Coinone Korbit. Saudi Arabia Rain. Turkey Koinim. Netherlands Bitvavo. Poland BitBay. Ukraine Kuna. Africa Nigeria Luno BuyCoins. South Africa Luno. Uganda Binance. Mexico Bitso Volabit. And today? With this in mind, it goes without saying that interest throughout Europe in this cutting-edge cryptocurrency has sky-rocketed in recent months.
The good news is that buying Bitcoin these days is actually really simple. All you need is a good online broker or exchange that accepts your preferred payment method — such as a debit card or bank account. But, with so many options to choose from, knowing which platform to buy Bitcoin from can be daunting. In this guide, I explain how to buy Bitcoin in Europe in the quickest, safest, and most cost-effective manner. On top of discussing the best online platforms to complete the purchase with, I also provide a simple step-by-step walkthrough on how to buy your first every Bitcoin today.
First and foremost, if you want to buy Bitcoin in Europe, you will need to open an account with an online trading platform that supports cryptocurrencies. Before I get the specifics on how to pick a platform that is right for your needs, I should make it clear that Bitcoin ATMs are also an option in Europe.
As the name suggests, these are physical ATMs that allow you to buy Bitcoin by inserting cash into the machine. Although this might sound super-convenient, I should make it clear that Bitcoin ATMs are hugely expensive.
As such, I would suggest avoiding Bitcoin ATMs and instead recommend using a trusted online platform. So that begs the question — how do you choose a platform to buy Bitcoin in Europe? Well, there are several key factors that you need to assess before opening an account with a new cryptocurrency platform, which I outline below. Before you even think about transferring money from your EU bank account, you first need to explore the credentials of the cryptocurrency platform in question.
In an ideal world, the platform will hold a regulatory license of some sort. With that said, much of the industry still operates in an unregulated manner — not least because Bitcoin is not controlled or governed by any single person or entity.
In this respect, a select number of cryptocurrency platforms in Europe have amassed an excellent reputation that spans several years of trading. This includes the likes of Kraken and Coinbase — both of which I will discuss in more detail later on. Regardless of which cryptocurrency platform you decide to buy Bitcoin from, you will need to pay a fee to access the market.
This is no different from buying and selling stocks with a traditional share dealing platform. You will likely find that your chosen platform charges a variable fee. There are other fees that you also need to take into account. Coinbase, for example, will charge you 3. Fortunately, transferring funds via SEPA will usually only cost you a few cents in fees. This payment method also permits larger purchases and is arguably much safer than using a debit card.
Leading on from the section above, you also need to ensure that your chosen cryptocurrency platform accepts your preferred payment method. As noted above, most Europeans will opt for a SEPA transfer as it is cost-effective, safe, and usually pretty fast to arrive. Some platforms — such as eToro, also support e-wallets. This includes Paypal, Skrill, and Neteller.
As I explain in more detail later on, it is all-but-certain that you will need to provide some ID before you can make a withdrawal. In fact, this will likely be required before you are able to make a deposit — as per European regulations on the countering of money laundering. This might be a minimum deposit amount or minimum trade size.
Kraken, for example, allows you to buy from just 0. This is really useful if you are buying Bitcoin for the first time and wish to start off with really small, inconsequential amounts. Taking all of the above into account, I would argue that a select number of cryptocurrency platforms stand out from the crowd. This is because the platform ticks most of the right boxes for Europeans. In fact, in terms of Euro-based trading volume, Kraken is the largest exchange in Europe. So, in order to buy Bitcoin at Kraken , all you need to is a European bank account.
The easiest way to make a deposit is to transfer the funds via SEPA. Best of all, if you have access to Instant SEPA, the transfer should be credited to your Kraken account in just a few minutes. Deposits via SEPA are free too — so far so good. Nevertheless, buying Bitcoin at Kraken can be done in a hugely cost-effective manner.
But, launched way back in , the platform is one of the oldest cryptocurrency exchanges in the space. Crucially, it complies with all European regulations on anti-money laundering, and thus — all users must have their identity verified. Finally, I should also note that Kraken is extremely user-friendly. As such, if this is your first time investing in a cryptocurrency online, Kraken is a good option.
Read More : You can find my full Kraken review here. Buy Bitcoin on Kraken. The platform also offers a fully-fledged CFD facility, meaning that you can also engage in short-selling and apply leverage of up to on your positions.
Regarding the former, this means that you can trade Bitcoin with twice the amount that you have in your account. All in all, eToro certainly comes with its pros and cons. On the flip side, all deposits at eToro made in a currency other than US dollars will attract a 0. As such, although you are not paying any commission per-say, this is actually a smidgen more expensive in comparison to Kraken. I would imagine that this is largely a result of newbie traders using too much leverage without having a grasp of the underlying risks.
In addition to this, I must also make it clear that eToro does not allow you to withdraw your Bitcoin out to a private wallet. This is also a practice employed by Revolut. But, for those of you that want to retain full control over your Bitcoin, this may prove problematic. Read More : You can find my full eToro review here.
Buy cryptos at eToro. Coinbase is potentially the best-known cryptocurrency broker in the industry. Launched in and now serving over 35 million customers in more than countries, the US-based platform is often the go-to broker for first-time buyers. This is because Coinbase is super-easy to use. The account opening process takes just minutes, and the platform is often able to verify your ID instantly. You can easily deposit funds with a debit card or SEPA, which makes the purchasing process seamless.
With that said, the overarching drawback of using Coinbase is that its fees are on the high side. As I briefly mentioned earlier, you will need to pay 3. If, however, using SEPA, then deposits are free. I should also note that the trading commission charged by Coinbase is not only expensive but somewhat confusing. For example, the platform charges a variable fee of 1. Once again, the 1. With that said, a flat commission fee will come into play on smaller purchases. All in all, while Coinbase is a highly trusted cryptocurrency broker with a great reputation and seamless purchasing process, the platform is not the most cost-effective option in the market.
Read More : You can find my full Coinbase review here. Buy Bitcoin at Coinbase. Once you have decided on which cryptocurrency broker you wish to use to buy Bitcoin, you will then need to open an account. Now, the process is largely the same across all of the brokers that I discussed in the sections below. So, the first step is to head over to the cryptocurrency broker and open an account.