How to Buy Bitcoin in Germany – 18 Ways
Do you want to buy Bitcoin in Germany? Be confident that there are multiple ways to do that with minimum commissions. You will agree that it is possible to acquire Bitcoins online almost in any corner of the world, but there are exchanges which have restrictions to certain countries and Germany might be among them. Moreover, there are many ways to purchase BitCoin not on the Internet and citizens of Germany should know about them too.
Look: this article will list the most popular exchanges to buy BitCoin in Germany as well as suggest other alternative methods too.
Where to Buy Bitcoin in Germany?
Germany is one of the leading European countries where a big number of citizens are interested in digital currency, own, and trade it. Naturally, they need to be aware of the reliable ways of purchasing BitCoin in the country they call Deutschland.
It goes without saying that today the number of ways how to purchase crypto coins is very extensive, but many exchanges and banks apply restrictions to people who earn on trading or buy Bitcoins for savings. Therefore, it is very important to know which ways are suitable exactly for the German population. In fact, every resident of the country can acquire coins on exchanges, mine them, purchase gift cards, use ATM and other means for this purpose. More detailed information on each of these and many other ways can be found lower.
Bitcoin Exchanges and Exchangers
Online BitCoin exchanges are considered the most popular and safest ways of obtaining cryptocurrency. There are over 20 crypto exchanges operating nowadays and most of them have already confirmed their reliability. It is natural that user experience of buying BitCoin via exchange can differ depending on the platform chosen, but in any case, there are several benefits of this way:
- Decentralized and fast transfers;
- Round the clock operation;
- Irreversible and anonymous transactions;
- Affiliate programs;
- Ease of the process.
If you live in Germany and want to buy BitCoin there getting all these benefits and more, look through the list of the active exchanges selling cryptocurrency.
It is a crypto exchange platform launched in 2013 with headquarters in London, GB. It offers cross-platform trading via website, mobile app, WebSocket and REST API as well as allows buying and selling cryptocurrency.
- Deposit and withdrawal methods: Credit card, Cryptocurrency, Debit card, Bank transfer (SEPA), SWIFT.
- Cryptocurrencies supported: BTC, BTG, BCH, LTC, DASH, ETH, XRP, ZEC, XLM, GUSD.
- Fiat money supported: US Dollar, Euro, Ruble, British Pound Sterling.
- Deposit/withdrawal limits: $1,000 per day, $3,000 per month for basic account holders; unlimited for verified users with Address, Enhanced, and Corporate wallets.
It is a brokerage company providing copy trading services with the main research and development office is located in Tel Aviv, Israel. It can boast over 8 million opened accounts.
- Deposit and withdrawal methods: Credit card, Debit card, Neteller, PayPal, Wire transfer, Yandex Money, China Union Pay, Giropay (Sofortüberweisung), Skrill Limited UK, WebMoney, Wire, Local Online Banking.
- Cryptocurrencies supported: 13 currencies.
- Fiat money supported: Euro, Pound Sterling, American dollar, Australian dollar, Canadian dollar, New Zealand dollar, Swiss Franc, Norway Krone, South Africa Rand, Japanese Yen, Swedish Krona, Turkish Lira, Hungary Forint, Polish Zloty.
- Deposit/Withdrawal limits: maximum deposit amount of $2,250 for unverified users, other maximum deposits per transaction depend on the payment method chosen.
It is a peer-to-peer platform for buying and selling cryptocurrency. It features an in-built wallet and connects people who want to buy or sell BitCoin and other coins.
- Deposit and withdrawal methods: Bank Wire transfers, SEPA, Swish, Qiwi, Tele2, M-Pesa, Debit card, Flexepin, iDEAL, Neosurf, Neteller, PayPal, Perfect Money Kenya, Ripple, LiteCoin, Ethereum, Western Union, BPAY.
- Cryptocurrencies supported: Bitcoin.
- Fiat money supported: over 50.
- Deposit/Withdrawal limits: no.
It is a brokerage company established in 2013 in Israel. It serves customers from over 180 countries and takes a brokerage fee of 5.9% per each transaction.
- Deposit and withdrawal methods: Cash, Credit card, Debit card, Bank transfer (SEPA).
- Cryptocurrencies supported: BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP.
- Fiat money supported: American Dollar, Euro.
- Deposit/Withdrawal limits: minimum Bitcoin amount to buy is $60, a daily limit of $5,000 and monthly limit is of 20,000 US dollars or Euros.
Made in Germany, this BitCoin exchange welcomes not only citizens of this country since it is the largest marketplace in Europe. The trading fee on the platform ranges from 0.8% to 1%.
- Deposit and withdrawal methods: SEPA, Bank wire transfers.
- Cryptocurrencies supported: BTC, BCH, ETH.
- Fiat money supported: Euro.
- Deposit/Withdrawal limits: maximum of €2.500 per a calendar year and €1.000 per single transaction.
It is one of the world’s largest exchanges with over 45,000 pairs and 300 coins supported. Founded in 2017, it offers a very low trading fee of up to 0.75%.
- Deposit and withdrawal methods: Credit/debit card, Cryptocurrency.
- Cryptocurrencies supported: over 300.
- Fiat money supported: American dollar.
- Deposit/Withdrawal limits: no.
This crypto exchange is based in London, GB and offers over 700 cryptocurrencies for trading. Purchases can be made without registration, while fees are calculated automatically during the transaction and can be quite high.
- Deposit and withdrawal methods: Bank Wire transfers, credit/debit cards.
- Cryptocurrencies supported: over 700.
- Fiat money supported: American Dollar, Euro, Ruble.
- Deposit/Withdrawal limits: minimum transaction limit of $50, a limit of $2,000 for the first month of use.
With its headquarters located in Cyprus, Terrexa can be used by residents of all countries on the globe. All the users must be verified to buy Bitcoins, while transaction fees range between 3% and 5%.
- Deposit and withdrawal methods: Credit card, Wire transfer.
- Cryptocurrencies supported: Bitcoin, Ethereum.
- Fiat money supported: American dollar, Euro.
- Deposit/Withdrawal limits: any amount between 200 and 10,000 American dollars or Euros for a single bank transaction, any amount between 50 and 5,000 for a single credit card transaction.
Being one of the leading world’s exchanges, Binance was founded in 2017 with its headquarters in Hong Kong. The exchange has gained incredible popularity for only half a year of its operation and its fees are below 0.75%.
- Deposit and withdrawal methods: cryptocurrency.
- Cryptocurrencies supported: 152.
- Fiat money supported: no.
- Deposit/Withdrawal limits: no limits for deposits, withdrawal limits are 2 BTC per day for non-verified users and 100 BTC per day for verified ones.
This exchange has become popular thanks to offering exchanging solutions in the countries where other services apply restrictions. It is one of the oldest platforms with very low trading fees (below 1%) paid only by a taker.
- Deposit and withdrawal methods: Bank transfer, Cash, Credit/debit card, Electronic Funds Transfer, Bank transfer (SEPA), Interbank GIRO, Interbank Funds Transfer.
- Cryptocurrencies supported: BTC, ETH.
- Fiat money supported: Euro, Indonesian Rupiah, Malaysian Ringgit, Nigerian Naira, South African Rand.
- Deposit/Withdrawal limits: depend on the account level from IDR 15,000,000 to unlimited ones.
This exchange is one of the oldest having been founded in 2007. At the same time, it features quite high fees that may rise from 2.5% to 20% depending on the payment method selected.
- Deposit and withdrawal methods: credit cards, e-wallets, PayPal, Skrill, vouchers, OKPAY, SOFORT.
- Cryptocurrencies supported: BTC.
- Fiat money supported: Euro, US dollar, Swiss Franc, and British Pound.
- Deposit/Withdrawal limits: deposit limits depend on the number of days spent on the platform since the first deposit – an immediate daily limit is €90, in 10 days – €120. It is possible to deposit up to €1,000 on request. Withdrawals are unlimited.
One of the most popular exchanges Bitpanda was founded in 2014. Its trading fees are the following: 1.49% for buying and 1.29% for selling crypto.
- Deposit and withdrawal methods: credit/debit cards, SEPA, Bank transfer, EPS, GiroPay, Sofort, Netteler, Skrill, Cash (Bitpanda on the go), iDEAL, Zimpler.
- Cryptocurrencies supported: over 20.
- Fiat money supported: US dollar, Euro, Swiss Franc, and British Pound.
- Deposit/Withdrawal limits: depend on the cryptocurrency (check here).
As it can be understood from the information above, every exchange offers its own number of payment methods. They are used for depositing a certain amount of fiat money or cryptocurrency to exchange or purchase BitCoin. Naturally, there are several most popular payment methods to be found almost on every platform. They include:
- Bank wire transfer. It is a safe, fast, and reliable way of electronic funds transfer when money goes from one bank account to another account which can be opened in another bank located even in another country. It usually takes from one to two days to deliver funds to another account and both a recipient and sender should have accounts in the banks to process this type of payment.
- Credit and debit cards. This is one of the cheapest ways to transfer funds, especially if money is sent to the card of the same bank. It is very easy to send money since you need to provide only a card number to complete it.
- SEPA payments. SEPA credit transfers are credit transfers made according to the European credit transfer standard. It requires information about a sender and recipient’s bank account in the international IBAN format. This payment method is made in Euro and is incredibly popular in Europe.
- Cryptocurrency. It is possible to make payments to the crypto exchanges depositing other cryptocurrencies. It means that digital money is transferred from the sender’s crypto wallet to the wallet address provided by the platform. Usually, it is an almost instant process with quite low fees.
- E-wallets. Many exchanges support transfers made via different electronic payment systems such as PayPal, Skrill, or Neteller. Funds are delivered from one e-wallet to another one rather quickly and with a minimum of commission.
How to Choose a Right Bitcoin Exchange
It goes without saying that the constantly growing number of exchanges makes it challenging to choose the best one since scams can be among them too. Therefore, it is necessary to pay attention to the following tips on how to make the right choice of the exchange service:
- Look at the country of its origin. Every exchange is registered and located in a certain country and the last one says about its reputability as well. It is better to buy coins on the exchange from your home country since it may be cheaper too.
- Payment methods supported. Naturally, the choice of the Bitcoin exchange depends on the way how you plan to deposit money to it. If the number of payment methods is limited and none of them suits you, it should be immediately excluded from your list. It is important to consider privacy levels choosing a payment method too.
- Exchange fees and commissions. It goes without saying that buying BitCoin cheaply is a goal of every person who plans that, so fees play a very important role. Firstly, it is important to understand what percentage of the deposit a user will lose choosing one or another deposit method and then calculate the total amount of cryptocurrency with the cost of all commissions. Some exchanges do not charge anything for deposits or from transfer makers, so all these these things must be considered in advance.
- Order book volume. The use of the exchange by other people says that it is working and performs its functions successfully. Therefore, it is important to look if order book is supported by the exchange and how often this platform is used by others.
- Transparency. The exchange should provide enough information about its work including publishment of cold storage addresses and audit data as well as contact information.
- Anonymity. Users from Germany should ensure that the exchange they use follows Know Your Customer (KYC) and Anti-Money Laundering (AML) laws.
- Utmost security and reputability. A secure exchange has a HTTPS protocol as well as features good reviews of other customers. Moreover, it is better to choose exchanges offering secure logins along with two-factor authentication (2FA).
Detailed Instruction to Buying Bitcoin
A step-by-step process of using BitCoin exchanges is very simple. You need to complete the following stages on the exchange to get new coins there:
- Register on the platform.
- Go through the verification process.
- Deposit fiat money such as Euro.
- Search for BitCoin and click the ‘Buy’ button.
- Enter the amount of BitCoin to purchase.
- Complete the process and get coins to your exchange account.
Other Ways to Get Bitcoin
Naturally, BitCoin can be purchased not only at crypto exchanges. There are several more ways to obtain cryptocurrency in Germany:
- From your friends and acquaintances. Not only peer-to-peer platforms are meant for buying coins from other people. If any person you know and trust wants to sell Bitcoin, you can get funds from him or her. Of course, avoid strangers not to be cheated.
- ATM. There are BitCoin ATMs where every person can buy cryptocurrency in Germany. They charge 5%-10% from every transaction and can be found in Berlin, Dusseldorf, Bonn, München, Strasburg, and others.
- Gift cards. It is possible to exchange gift cards for Bitcoin on crypto exchanges. Moreover, every person can buy Bitcoin gift cards, receive them from others or present it to anyone.
- Mining. The original way of getting BitCoin is to mine it. Of course, it is necessary to get special equipment, pay huge electricity bills, and only then get Bitcoins.
- Work. It is not a secret that there are employees who pay salary in BitCoin, so every person can earn BitCoin by performing some responsibilities at work.
- Playing games. There are online games that award players with real BitCoin prizes. They are usually given for watching advertisements or staying in the game for a long time.
Pros and Cons of Buying Bitcoin from a German Exchange
There is nothing surprising that citizens of Germany would prefer local exchanges for purchasing BitCoin since it is one of the tips how to find a reliable exchange. However, this choice has a number of other benefits including:
- Lower transaction fees.
- Support of the official currency of Germany.
- Cooperation of exchanges with local banks speeds up the transfer of funds.
- Ease of verification.
- Support of German language.
German population keeps up with modern trends and digital money is not an exception. They also want to earn on crypto trading or store funds in BitCoin, so they look for a reliable way how to get cryptocurrency. This article has provided information about the most popular exchanges operating on the territory of Germany and other popular ways of obtaining BitCoin in the country.