Buying Bitcoin in Europe: This is what you need to know
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Europe has been one of the top continents to have embraced the development of cryptocurrency. If you are presently in Europe and thinking of how to jump on the crypto wagon and make some money for yourself, you are thinking in the right direction. Cryptocurrency has made thousands of people rich in the past, and it’s still doing so. With Bitcoin, you can make good money for yourself too.
In this post, we will be showing you how to buy Bitcoin in Europe and some safety measures you will need to put in place to protect yourself and your fund. Bitcoin is not just the first cryptocurrency but also the largest and the most popular. It paves the way for other crypto assets and determines their growth in the market. We will assume you already know enough about Bitcoin, so let’s get straight to the heart of the post.
There Are Different Ways You Can Buy Bitcoin in Europe
Yes, there are multiple options open to you when you are in Europe and looking to buy Bitcoin. Unfortunately, not all Bitcoin investors and enthusiasts know this. Many of them assume you can only get your Bitcoin from a cryptocurrency exchange. That’s not it. Let’s show you some places you can get your Bitcoin from.
· You can buy from a crypto exchange and crypto brokers
This appears to be the most popular option when looking to buy Bitcoin. A cryptocurrency exchange is a platform that allows you to buy any type of cryptocurrency you want, including Bitcoin. There are many of them scattered everywhere across Europe. They charge you a small fee for any transaction you make on their platform in exchange for their service.
Brokers are quite similar to crypto exchanges, just that brokers provide a much simpler platform for users. That means their platforms are more tailored to serve beginners and less complicated Bitcoin traders. On the other hand, their transaction fees seem to be a bit higher than what crypto exchanges offer. But brokers will give you a smoother and much faster buying experience.
Some popular crypto exchanges and brokers in Europe are Anycoin Direct, Kraken, eToro, Coinbase, Bitpanda, etc. All of them allow you to buy your Bitcoin safely without any issues. Yes, you can buy with your preferred currency, whether pounds or euro.
· You can buy from merchant stores
Not everyone knows this. You can actually buy your Bitcoin from a variety of stores across Europe. There are lots of them scattered across the continent, and many of them will even allow you to buy some other cryptocurrencies asides from Bitcoin.
One interesting perk with these physical stores is also that they allow you to buy any Bitcoin of your choice using cash. Some merchant stores that sell Bitcoin in Europe are LitBit, BitPanda, Bitcoinbon, Tabacs, Cashin, etc.
· You can buy from a Bitcoin ATM
Like a traditional cash ATM that dispenses cash, there are also Bitcoin ATMs that allow you to conduct transaction in Bitcoin, including buying and selling your Bitcoin. This provides a much easier and faster way for anyone that wants to buy Bitcoin in Europe. Plus, it comes with the perk of allowing you to buy without verification.
However, you need to take safety much more seriously when choosing to buy your Bitcoin from a Bitcoin ATM. So to go ahead with this method, just search online for the nearest Bitcoin ATM and use it to buy your Bitcoin. Some countries that presently have the most Bitcoin ATMs are the U.K., Spain, the Czech Republic, and Slovenia. Check the CoinATM Radar map to know how close you are to a Bitcoin ATM.
· You can buy with PayPal
This is a somewhat new method, but it is effective for buying Bitcoin. While not many exchanges allow buying Bitcoin on their platforms because of some challenges, you can directly buy Bitcoin on the PayPal platform in Europe.
Using this method allows you to enjoy a much safer and more convenient way of buying Bitcoin. And you can buy as much as $100,000 worth of BTC and as little as $1 worth every week. Let’s quickly see the steps to follow to do this:
- Log into your PayPal account
- Click the Cryptocurrency option at the top-right corner of the screen
- Select the cryptocurrency you would like to buy – in this case, you will be choosing BTC,
- and click on Buy
- Specify how many BTC you want to buy
- Choose a payment method – you can choose to pay from your PayPal balance or with a card linked to the account. Now, click Next
- Finally, click on the Buy button to confirm your purchase
Tips for Buying Bitcoin in Europe
Cryptocurrency is a tricky terrain you will need to tread carefully. You want to make sure you do your best to ensure your safety while you buy your Bitcoin. Otherwise, you may lose your money and investment to scammers or hackers. So in the following section, we will quickly do a walk-through of some tips that can keep you safe when buying Bitcoin in Europe.
#1: Only choose a reliable platform for buying Bitcoin
Whether you are using a crypto exchange, broker, or merchant store, make sure you are going for the most reliable option. So, do your research well before jumping on them. Consider the security, reputation, fees, and reviews about the platform before you decide to use them.
#2: Choose the most profitable option
The reason you are buying Bitcoin is probably to make a good profit from it. So when buying, consider the most profitable option for you. While crypto exchange offers the lowest fee, it cannot help you achieve a fast transaction like an ATM or a crypto broker. So weigh your options and go for the one that suits you most.
#3: Choose a safe crypto wallet
Before you think of buying Bitcoin in Europe, you should consider where to safely store the BTC after purchase. That is where your crypto wallet comes in. choose one with the most security and ease to use. There are lots of BTC wallets out there. So, you won’t have trouble choosing one for yourself.
#4: Be sure your exchange has the right support
If you are choosing a crypto exchange, make sure you go for one that can guarantee you’re the right support. You don’t want to opt for an exchange that will ghost you when you need them most. This is very important.
#5: Be extra careful when buying from Bitcoin ATM or a merchant
We already mentioned this. While these two methods seem to provide utmost convenience when buying Bitcoin, you should know that they are also very risky. So before walking into a merchant store or an ATM, make sure you take extra precautions to protect yourself from falling into the wrong hands.
A cryptocurrency exchange is a platform like Bitcoin Evolution that allows you to buy any type of cryptocurrency you want, including Bitcoin.
