When it comes to purchasing the ‘mighty’ cryptocurrency Bitcoin, one has several options nowadays to do so. Bitcoin is traded on a global scale and demand for this digital asset is on the rise. If you want to buy Bitcoin, the most common way to do this is with USD. On the other hand, if you are living in a country with another default fiat-currency like EURO, the options for buying Bitcoin are on the rise as well. If you are interested in buying Bitcoin with EURO, then you have come to the right place. In this article I’ll handle the best exchanges(based on high trading volume) where to buy Bitcoin with EURO.
What is a Cryptocurrency Exchange
A cryptocurrency exchange or a digital currency exchange is an online trading platform that allows users to trade cryptocurrencies for other assets, such as conventional fiat money or other digital currencies. Moreover, these centralized platforms offer online wallets to store your cryptocurrency.
Next, I’ll will explain the online platforms which offer trading or buying Bitcoin with EURO based on high volume, and which gives you the best option to buy or sell your crypto at market levels.
1. Buy Bitcoin with EURO at Binance Jersey
Binance Jersey is an online trading platform owned by big brother Binance. This trading platform aims to add extra liquidity to the markets by making it possible for European natives to buy crypto and deposit euro and pounds. For the time being you can only buy Bitcoin(BTC) and Ethereum(ETH) with fiat money, but this will be extended with several other crypto currencies in the future.
If you want to deposit EURO to Binance, currently there are two ways to do so: SEPA and wire transfer. Quicker ways like IDEAL or Trust aren’t working yet, but will be added in the future.
We all know that a wire transfer with the ‘old-fashioned banks’ are slow and could last up to 5 business days. To speed things up, it’s wise(if possible) to use SEPA which only lasts 1 or 2 business days.
Furthermore, buying Bitcoin with EURO this way is still much cheaper than other platforms like BTCDirect or BL3P. These platforms charge about 100 euro in fees, while depositing euro at Binance Jersey costs 8 euro and 0.1% fee per trade.
Once the money has arrived at your account, it’s time to further setup your trading account. Every new user on this trading platform has to undergo a KYC(Know Your Customer) procedure. If you refuse to do this, it’s also not possible to start trading and buying Bitcoin at the exchange. The KYC requires you to give your credentials like passport, driver license and residential address.
After doing all of this, you are ready to go and free to buy Bitcoin with euro at this interesting trading platform!
2. Purchase Bitcoin with EURO at Coinbase
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency. It’s an USA based company and their mission is to create an open financial system for the world. Moreover, they are here for helping people to convert digital currency into and out of their local currency. Recently, this USA company has also added the option to buy Bitcoin with EURO.
In addition they offer:
- Trading cryptocurrency is very easy and straightforward
- Sending or receiving crypto on wallets at their platform is totally free
- They guarantee that your stored crypto is safe
- Very easy to use and intuitive interface
- Their API is used by many other applications
Deposit Euro on Coinbase
Coinbase also offers two options to deposit EURO to their platform. These are: SEPA and SWIFT.
How to make a SEPA transfer
Bank transfers made via SEPA are used to send payments denominated in Euros within the Single Euro Payments Area. These payments typically only take a couple of business days to credit to your Coinbase account.
SEPA transfers have no fees and can only be denominated in EUR. Although SEPA deposits are free, you have to setup 1 deposit of 6 euro for verification. After completion, the amount will be credited back to your EUR wallet on the Coinbase platform.
Deposit EURO with Bank Account
Deposit euro with a SWIFT transfer is also an option. If doing so, one has to take into account some additional fees which will be charged by your bank. The minimal fee will be 5 euro and the total transaction will last 1 to 3 business days.
Finally, after you have done the requested deposits it’s time to purchase Bitcoin with EURO on their platform. Before doing this, make sure you did the KYC process when signing up at Coinbase.
3. Buy Bitcoin with EURO at Bitpanda
Bitpanda GmbH (formerly known as Coinimal) is a fintech company based in Vienna, Austria specializes in selling and buying Bitcoin and other cryptocurrencies. It has quickly grown to become Europe’s leading retail broker for cryptocurrencies. With over 900K users the company has recently expanded its services to allow users to invest in precious metals (gold, silver) as well.
The company was founded in late 2014 and has since grown to become one of the more popular options to purchase Bitcoins around Europe. Moreover, if you live inside the EU it’s one of the cheapest ways to buy Bitcoin with a credit card or SEPA transfer.
Deposit EURO with Bitpanda
The big benefit of Bitpanda is that it’s an European based cryptocurrency exchange. As a result, they offer many options to deposit EURO to their platform:
- Visa and Mastercard
Although this cryptocurrency exchange is European based and has quick deposits, there are some limits. Below in the table I’ll give an overview:
|Bank Transfer(SEPA, SOFORT,NETELLER, Skrill,Ideal etc)||Deposit limit(Zimpler)||Deposit limit(SEPA)|
|Daily limits(24 hours)||2500 EUR||49.999 EUR|
|Monthly limits||100.000 EUR||5.000.000 EUR|
|Total limits||100.000 EUR||100.000.000 EUR|
When signing up to this trading platform you also have to do a KYC process first, otherwise it isn’t possible to do any EURO deposits at all. Finally, when your done nothing is stopping you to buy Bitcoin with EURO on Bitpanda!
4. Buy Bitcoin with EURO on Kraken
Last in the list, I have to mention Kraken. Kraken is one of the eldest and bigger cryptocurrency exchanges out there. Moreover, their volume in the BTC/EUR pair can be considered as the largest in the world. Because of their high volume in this pair it’s possible to trade in the most common cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash, Litecoin and many others. One of the most remarkable things about Kraken is that they also offer the ability to lend out your coins and return interest on it.
Although their biggest volume is on the BTC/EUR trading pair, this doesn’t mean trading with other fiat-currencies isn’t possible. Currently, the most traded fiat currencies in the world(USD, EUR, GBP, JPY and CAD) are supported.
How to Deposit EURO with Kraken
For depositing EURO on Kraken you also have two options: SEPA and wire transfer.
This are the steps to perform when depositing EURO:
- You must have setup the proper KYC account
- Navigate in the menu to Funding>Deposit>Euros
- Select the SEPA option
- You will be shown bank account details, a deposit reference and other instructions. Make sure you follow them.
- Initiate the requested transaction
A screenshot of an example will be given below:
Finally, you’re done.. So, happy trading at Kraken!
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