If you’re brand new to blockchain technology and cryptocurrency, you’re probably wondering how to buy and spend Bitcoin. Bitcoin is really a decentralized network of peers engaging in transactions and trading value without the need for a central authority or intermediary. No governments, central banks or brokers control or take a cut of anything. The power to exchange value is in your hands, unless, of course, you decide otherwise.
However, Europe is a totally different landscape when it comes to cryptocurrency adoption, and there are certain ways to buy Bitcoin in Europe.
If you want to buy bitcoin in Europe, there are currently four ways: through bitcoin exchanges like Kraken, Coinbase Pro and Bitstamp; through decentralized (or peer-to-peer) exchanges, which offers users more privacy, e.g., Bisq, LocalBitcoins and HodlHodl; at Bitcoin ATMs; or at retail stores.
It’s quite easy to buy Bitcoin in Europe. Bitcoin exchanges are the most popular method to acquire bitcoin (BTC) because it is the cheapest way of buying cryptocurrency. Most exchanges these days offer ways to set up recurring buys. This makes it easy to set up daily, weekly or annual purchases in manageable denominations and is a stress-free way to grow your bitcoin funds.
The following is a fast rundown of certain trades where you can trade euros (EUR) or pounds (GBP) for bitcoin:
- Kraken is the head European trade. Effectively exchanging since September 2013, Kraken has high standing in the cryptographic money network, and the biggest volume for BTC-EUR of any trade.
- Coinbase Pro has the second biggest BTC-EUR volume after Kraken. It is additionally one of the longest-running bitcoin trades. You can without much of a stretch timetable recurring buys on a clock.
- Bitstamp is a bitcoin exchange in Luxembourg. It permits exchanging USD and Euro (among different monetary forms) with bitcoin, ether, and litecoin. As of late, the trade added Ripple to its list.
- Bitfinex flaunts the third-biggest exchanging volume the world. It enables you to use up to 3.3x your exchanging power.
- Binance Jersey, an extention of Binance in the U.S., opened in 2019 and offers access to bitcoin utilizing euros and British pounds.
There are also decentralized, or peer-to-peer, exchanges which are different from regular exchanges as they allow you to control your funds throughout the entire experience. They do not require identification to buy bitcoin, and you can transact with different methods such as cash.
At last, Bitcoin ATMs are a novel method for purchasing bitcoin and are commonly reasonable for little buys, however these machines are generally limited to metropolitan regions.
While ATMs are an increasingly costly method for purchasing bitcoin, there are a bunch in Europe that don’t require distinguishing proof. Most will request a type of confirmation, as a rule to your versatile number, and may request all the more info relying upon local guidelines and the size of the exchange. Bitcoin ATMs are additionally the fastest method for changing over money or cash in the bank to bitcoin, except if you live in a country zone.