If you are presently in Europe and thinking of joining the cryptocurrency wave to make some money for yourself, you are thinking right. Bitcoin is not only the trend presently, but it is also the future of finance. Therefore, the earlier anyone gets on the train, the better.
Bitcoin is the father of all cryptocurrencies. In the last decades, it has increased so much in price and acceptance. More economy is accepting it as a payment method, and many people are already switching to it as a sure way of storing their wealth. So whether you are buying Bitcoins to make quick short-term money or as a long-term investment, you need to understand how and where to get the coin in Europe.
In this post, we will be showing you some options available to you to safely buy your Bitcoin in Europe without getting scammed or losing your money. If you are ready to find out, then let’s get straight into business.
Buying Bitcoins in Europe
Europe is one of the continents where cryptocurrency has had a strong presence. Since its introduction in 2009, Europe has been on the front line of adopters. But just as acceptance is high here, and more people are into trading or bitcoin investment, there are also lots of people out there looking to rip people off their money.
If you are a beginner, it is recommended you learn a good deal about cryptocurrency and Bitcoin before you jump into the water. Know the right Bitcoin wallet for you, and know how to safely invest without burning your fingers. Research your broker or exchange before opting for one. Choosing the wrong crypto broker or crypto exchange can make you lose all of your money. Be wise! So, let’s now consider some ways you can buy your Bitcoin in Europe.
Different Options for Buying Bitcoin in Europe
There are a couple of options available for you when looking to buy Bitcoin with either euro or pounds. Below are some ways to purchase your bitcoin in Europe.
#1: Buy bitcoin from merchant stores with euro or pounds
This is the first way by which you can buy Bitcoin in Europe – that is buying from merchant stores. There are many of them scattered throughout the continent. In fact, some of them not only sell Bitcoin but also allow you to buy other cryptocurrencies with cash. Good examples are LitBit and BitPanda.
Also, stores like Bitcoinbon allow you to buy your Bitcoin easily with cash in a physical store. Here, you will be buying vouchers that contain Bitcoin. Apart from Bitcoinbon, there are many more other physical stores all over Europe that allow you to buy Bitcoin from their stores.
If you are in France, you can use Tabacs where you can also buy bitcoin vouchers. In the U.K, Cashin makes it super easy for people to buy bitcoin from physical stores.
#2: Buy Bitcoin from a Bitcoin ATM
This is more suitable for people looking to buy a small quantity of Bitcoin. It is fast, easy, and doesn’t require you to verify your identity. That means if what you want is how to buy Bitcoin in Europe without verification, buying from Bitcoin ATMs will be your best shot.
Gone are the days when Bitcoin ATM is very difficult to come by. Right now, there are lots of them in virtually every country in Europe. Presently, countries like Austria, the U.K., the Czech Republic, Spain, and Slovenia have the highest number of Bitcoin ATMs scattered on their soil.
Bitcoin ATMs work the same way as the traditional ATMs that you go to in order to get some cash. But this one only deals with Bitcoin. To know where the closes Bitcoin ATM is to your location, simply check out the CoinATM Radar map. It will tell you the nearest place to go so you can use a Bitcoin ATM.
#3: Buy via cryptocurrency exchanges and brokers
These two – crypto brokers and exchanges are very similar. The difference is that brokers provide a simpler platform for users to buy and sell cryptocurrencies, including Bitcoin but exchanges have moe complex trading features that may not be very easy to understand by beginners. However, transaction fees charged by crypto brokers are higher compared to that of an exchange.
But the two of them allow you to buy Bitcoin in Europe. In fact, using an exchange proves to be the easiest method anyone can use for buying Bitcoin. You will not only be buying your Bitcoin from there, but you can also trade in the platform. But be prepared to pay some small fees on transactions when using crypto exchanges.
Some crypto exchanges and brokers you can trust when buying Bitcoin in Europe include:
- Anycoin Direct
- Kraken
- Coinbase
- eToro
- Bitpanda
All of these platforms allow you to exchange euros or pounds for Bitcoin. However, Anycoin Direct offers the most convenient option among them all. The platform allows you to use a wide range of payment methods to buy Bitcoin, including credit cards, debit cards, bank transfers, SEPA, or other cryptocurrencies.
How to Buy Bitcoin Using a Cryptocurrency Exchange
Crypto exchanges offer the most widely used option for buying Bitcoin in Europe. So let’s walk you through the steps to follow to get your Bitcoin through that means too.
Step 1: Choose a reliable crypto exchange you can trust
Don’t be tempted to opt for the first crypto exchange that comes your way. Take your time to research any exchange you will be going with. You want to be sure it is one with a good reputation, security, and offers lower fees on transactions. At the same time, it is always good to go for an exchange that offers multiple payment methods. This will make the process easier for you.
Step 2: Create an account with your chosen exchange
Once you have the perfect exchange for your needs, the next thing is to create an account with them to get started. Opening an account with a crypto exchange is very easy and doesn’t take much time. However, some of them will require that you verify your identity. So be prepared for that and have your KYC documents handy.
Step 3: Verify your account and deposit money into it
You will be required to verify your account by getting a code or link sent to your email, and providing all necessary documents. Once that is done, you can now deposit money into the account to buy your Bitcoin. You can do this by either connecting your debit or credit card to the account or doing a wire transfer to fund the account. Just make sure you fund the account with an amount enough to buy your desired amount of BTC.
Step 4: Buy your Bitcoin
Now that you have some funds in your account, go ahead to buy your BTC. Input the amount of BTC you want to buy and make your order.
Step 5: Wait to get your Bitcoin in your wallet
Once your order is confirmed, the amount of Bitcoin you purchased will be sent to your bitcoin wallet. That means if you don’t already have a bitcoin wallet, you may want to first settle that before you go ahead to buy your bitcoin.
