Last year, the price of Bitcoin cryptocurrency was under $5,000. And today, you are also aware of its pricing. A similar virtual currency has gone bey
Last year, the price of Bitcoin cryptocurrency was under $5,000. And today, you are also aware of its pricing. A similar virtual currency has gone beyond $40,000. Put simply, it means that Bitcoin cryptocurrency has augmented in worth by over 800% since last year. Attention through Europe in this cutting-edge digital currency has sky-rocketed in current months with this in mind. At present, buying Bitcoin is really simple, and it is good news. All you need is a good online exchange or broker that takes your favored payment process – such as a bank account or debit card.
But, knowing which platform to purchase Bitcoin from can be intimidating with so many choices to select from. In this guide, we will explain how to purchase Bitcoin in Europe in the safest, fastest, and most cost-effective way. We will also share a simple step-by-step walkthrough on how to buy your initial every Bitcoin today; the top suggestions that help you to buy cryptocurrency in Europe are discussed below:
Choosing a Bitcoin Trading Platform:
The foremost and primary step is that you will need to open an account with an online trading platform that supports cryptocurrencies if you plan to buy Bitcoin in Europe. We make it clear that Bitcoin ATMs are also a choice in Europe before we get the specifics on how to select a platform that is right for your requirements. These are physical ATMs that permit you to buy Bitcoin by introducing money into the machine as the name suggests. However, we make it clear that Bitcoin ATMs are enormously expensive as this may sound super-convenient.
Apart from this, depending on the supplier, it is not unusual to pay a mark-up in surplus of 10% to 20%. As such, we would suggest preventing Bitcoin ATMs and as an alternative recommend using a reliable online platform. Do you think that how you select a platform to buy Bitcoin in Europe? Well, before opening an account with a new cryptocurrency platform, there are numerous key aspects that you ought to evaluate, and these are discussed below.
Reputation and trust:
Initially, you need to discover the credentials of the cryptocurrency platform in question before you even think about transferring cash from your EU bank account. Ideally, the platform will hold a controlling license of many sorts. Much of the business still work in an unfettered manner, not least since Bitcoin is not governed or controlled by any single entity or person.
As such, you will need to look at the further system of measurement to regulate that the platform can be trusted, such as general feedback in the online domain. In this respect, a lot of cryptocurrency platforms in Europe have combined an outstanding status that spans numerous years of trading. This consists of the likes of Coinbase and eKrona, both of which we will discuss in more detail later on.
Payments and account minimums:
You also need to make sure that your selected cryptocurrency platform receives your preferred payment technique. Most Europeans will opt for a SEPA transfer as it is safe, cost-effective, and frequently pretty quick to attain as noted above. On the other hand, if you are after an instant deposit, you may want to think about a debit or credit card. There are a lot of platforms that also support e-wallets. This includes Skrill and PayPal. You need to also check to understand what the platform’s withdrawal policy is on top of payment method-specific fees.
Before you can make a withdrawal, it is all but positive that you will need to offer some ID as we explain in more detail later on. Apart from this, it will probably be needed before you can make a deposit, on the countering of money laundering as per European regulations. In addition to withdrawal policies and supported payment methods, you ought to also find out what the platform’s account minimums look like. It may be a minimum trade size or minimum deposit amount.
You will need to pay a fee to access the market, irrespective of which crypto platform you choose to buy Bitcoin from. In most cases, it appears in the form of a trading ‘commission’. This is no different from selling and buying shares with an old-style share dealing platform. You will probably find that your selected platform charges an inconstant fee. For instance, you will pay a commission of €10 if you buy €1,000 worth of Bitcoin and the platform charges 1%. Then, your 1% commission will amount to €20 if you trade your Bitcoin holdings when it is worth €2,000.
However, other fees are also available you also need to take into account. For instance, when you withdraw or deposit funds some cryptocurrency platforms will charge you a fee. Luckily, transferring funds via SEPA will typically just charge you a few percent in fees. This payment method will also allow greater procurements and is questionably much harmless than using a credit or debit card.
Listed above are some points that will help you to buy cryptocurrency in Europe. Buying cryptocurrency in Europe will be easy for you if move step by step and by following the above-written tips. Moreover, if you plan to buy cryptocurrency in Europe, then you should go with the eKrona cryptocurrency that is most popular these days around the globe. At last, if you want to read more about cryptocurrencies or crypto trading, drop a comment in the comment section because our upcoming blog will be based on your comments.