5 Ways to Buy Cryptocurrency – Fast and Cheap (2021 Updated)

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• Updated: December 18th, 2020

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Want to learn how to buy cryptocurrency? You’ve come to the right place.

The best ways to buy cryptocurrency in Q4 of 2020 are:

Below, we’ll list some of the best exchanges out there along with some basic details about them.

Let’s jump right into it!

Best Ways To Buy Crypto With A Card

Based out of San Francisco, California, Coinbase is considered by many to be the most beginner-friendly exchange. It accomplishes this through its beautiful yet simple user interface. Coinbase is a brokerage, meaning that instead of buying Bitcoin and other cryptocurrencies from other users, you are buying directly from Coinbase.

As far as fees go, Coinbase charges 3.99% on credit and debit purchases. Due to the lower fees involved, it’s recommended to use your bank account when making large purchases.

Coinbase’s fees are on the lower end compared to other brokerages mentioned later in this guide.

Watch our tutorial on how to sign up and buy cryptocurrency on Coinbase.

Visit Coinbase

How do I buy Crypto instantly with a credit or debit card?

The exchange Coinbase allows users to buy cryptocurrency such as Bitcoin instantly when a credit or debit card is used. This is great for buying dips in the price.

On most exchanges, if a credit or debit card is used, you will have instant delivery of your Bitcoins. This is perfect for buying the bottom, or catching a big move right before it happens.

Why use a credit or debit card to purchase crypto?

Buying crypto using a credit or debit card is a much faster way of obtaining cryptocurrency.

If you were to use your bank account, exchanges will make you wait 3-8 days to receive your cryptocurrency, making you unable to move it off the exchange. This can be inconvenient, so some users decide to use a card for their purchases.

If time is not a concern, consider using a bank transfer to purchase crypto, as you will save on purchasing fees.

Are there any disadvantages to buying Crypto with a credit card?

There are two main disadvantages of buying crypto with a card. The first is the higher fees associated with the process. For example, Coinbase charges a 1.49% fee for buying crypto with your bank, but a 3.99% fee if you were to use a credit or debit card.

The other disadvantage of buying crypto with a card is the purchasing limits. Due to the risks exchanges face when users purchase crypto with a card, they offer lower limits. These limits can be increased when:

  • A bank account is linked
  • A photo ID is provided
  • A phone number is linked
  • A purchase history is established

How can I get around low purchasing limits?

If you reach your limits on one exchange, try using a combination. As stated above, we recommend Coinbase, Coinmama, and Bitpanda. Limits are replenished on exchanged slowly over the course of the week, so depending on how patient you are you could just use one exchange.

Is it safe to send in my ID or other sensitive information?

Absolutely! Coinbase and other exchanges are required to ask for this information in order to comply with government regulations. There has been no data breaches or anything of the sort so far. However, there is always a chance of your information being used, so it is important to be aware that it is possible.

Can I Buy Crypto with Paypal?

Absolutely! The fees associated with this method are higher than a credit or debit card, but it certainly is possible. To learn more, check out our in-depth guide to buying Bitcoin with Paypal.

How do I sell Crypto back after purchasing?

To sell your Bitcoin or other cryptocurrencies on an exchange after purchasing, just go to the appropriate page or tab, for example, Coinbase has a Buy/Sell tab where users can buy and sell on the same page.

Most exchanges will charge a fee for selling, usually around 1%-2%. The exchange CEX.io will allow users to sell crypto and receive funds directly to their credit card.

Why can’t I buy some altcoins directly with a credit card?

Due to issues with liquidity and regulations, it is difficult for exchanges to offer altcoins directly for fiat. To get around this, just buy Bitcoin first, and send the purchased Bitcoin to crypto to crypto exchange like Binance to buy alt-coins.

Should I try and trade crypto, or just hold onto it?

This is up to you and depends on how much experience you have trading, and how much you are willing to risk when trading. There is definitely some serious gains that can be made if done properly.

How Do I Pay Taxes on Cryptocurrency?

This will really depend on the country you reside in, which coins you traded, and whether you profited or loss. For more information on cryptocurrency taxes and your different software options, check out our guide!

How to Buy Cryptocurrency in United States

Buying crypto in the United States is a lot easier than it used to be.

Growing up in the United States, I have vivid memories of friends approaching me around 2012 asking me how to buy Bitcoin.

I’d refer them to ridiculous methods that were somehow the best available at the time.

One of these methods required purchasing an in-game currency from the video game Second Life, before converting that into Bitcoin.

Today in 2020, it’s as simple as signing up for an exchange or brokerage service, getting verified, and having it delivered to your crypto wallet.

Yep, it’s that easy.

Is Crypto Legal in the US?

As much as people (or the president) would like to make you think, crypto is 100% legal to own and use in the United States. Non-profit organizations like Coincenter are dedicated to being cryptocurrencies voice to the US government.

Can I Buy Crypto in my State?

Absolutely! For the most part, any exchange or brokerage mentioned in this guide while working in all states. The only exception to this rule is New York, as they require all exchanges to operate in the jurisdiction to have something called the “BitLicense“.

 

How to Buy Cryptocurrency in New York

You’re from New York, and you want to buy some Bitcoin. You are in the right place!

Crypto ATMs in New York

Another way to buy crypto in New York is to do it via Bitcoin ATMs. This is a very easy method to purchase crypto because ATMs do not ask for sensitive information or private data. Instead, you need to pay higher fees than doing it via a crypto exchange.

But, to find a crypto ATM that works at all times and has low fees is quite a problem. Additionally, the ATM may be located in central areas, leaving those in smaller cities without the chance of buying and purchasing virtual currencies.

Crypto in New York

New York receives a lot of attention in txhe cryptocurrency world due to the well known BitLicense. In July 2014, the state released the license making it slightly more difficult for companies to operate in the virtual currency space. While there’s no exact number out, it appears to cost around ~$100,000 for companies to get a hold of the precious license. Let alone all of the different paper and legal work that goes into it.

While the legislation makes it much more difficult for new businesses to operate with crypto in New York, all of the options here are certainly able to.

Contrary to popular belief, there’s also a fair amount of crypto mining that goes on within New York. Greenridge Generation, a powerplant in Upstate NY, recently sold 30% of its mining power to institutional buyers.

 

How to Buy Cryptocurrency in Singapore

You’re here because you want to purchase crypto in Singapore.

But are unsure which exchange is the best for a beginner.

Most readers will find the most success with Coinbase.

However…

In life or cryptocurrency, there’s never a one size fits all option.

Don’t worry, as this is where Bitpremier comes in.

This guide will cover how to purchase crypto in Singapore with all payment methods imaginable.

Crypto ATMs in Singapore

The number of crypto automated teller machines (ATMs) has grown exponentially over the past few years thanks to the rising popularity of the cryptocurrency. The global count of Bitcoin ATMs has shot up from 471 in January 2015 to 4,213 at present, according to Coin ATM Radar.

Singapore currently has 9 Bitcoin ATMs according to Coin ATM Radar, where crypto buyers can go, deposit fiat currency, and get their cryptocurrency instantly. The machine will accept the cash and deposit the crypto into the buyer’s wallet.

So a crypto ATM gives users a fast and easy way of getting their hands on the cryptocurrency as they can skip the sign-up and verification process. All that you need is a safe and secure wallet where the ATM will send the digital currency.

But this convenience comes at the cost of high transaction fees that reportedly average as high as 8.93%. However, the transaction fee seems to be on the lower side in Singapore, with Coin ATM Radar reporting that ATMs charge between 2.9% and 5% on crypto purchases.

Still, the fees are high when compared to an exchange such as Gemini. So, even though crypto buyers in Singapore have an alternate method of buying crypto, they should consider taking the pain of signing up and verifying on an exchange to buy the digital currency and avoid high transaction fees.

Crypto in Singapore

Singapore’s largest bank, DBS, had labeled crypto as a Ponzi scheme in November 2017. Additionally, the Inland Revenue Authority of Singapore views crypto not as a currency but as goods, so anyone transacting using the same has to pay goods and services tax.

What’s more, the Singapore Law Ministry has come up with a bill to ensure that cryptocurrencies aren’t considered a legal tender, and has also warned businesses from accepting payments in cryptocurrencies.

However, Singaporeans interested in buying crypto for making peer-to-peer payments, or as a means of investment, can easily get their hands on the cryptocurrency thanks to a range of options. Let’s take a look at the various ways one can buy crypto in Singapore.

In May 2018, digital asset banknote maker Tangem launched smart Bitcoin banknotes in Singapore with an aim of making the ownership and circulation of the cryptocurrency more mainstream in nature.

These notes are available in denominations of 0.01 BTC and 0.05 BTC and can be purchased from the company’s Suntec City outlet in Singapore.

Of course, buyers will have to load Bitcoin into the banknote from their wallet, but anyone looking to buy Bitcoin can simply buy a Tangem banknote from someone who already holds it.

Tangem claims that its tamper-proof chip technology will prevent the banknotes from hacker attacks.

Users simply need to touch the banknote using a smartphone with NFC capability to find out if it holds valid Bitcoin. If it does, the user can simply pay an equivalent amount in fiat currency to the banknote holder to buy their Bitcoin.

More importantly, Tangem was aiming to circulate 1 million banknotes by the third quarter of 2018 so that they can be used just like physical cash at retail chains and convenience stores.

So getting access to one in Singapore shouldn’t be difficult in the future. What’s more, Tangem says that there are no transaction fees associated with these smart banknotes, so they give users probably the cheapest way of buying crypto in Singapore.

In the end, it can be concluded that there are both traditional and innovative ways to buy crypto in Singapore that users can choose from, depending on a variety of factors such as associated costs, convenience, and availability.

 

How to Buy Cryptocurrency in Switzerland

Switzerland has been known to be one of the most innovative countries surrounding the financial space.

In December of 2018, the Swiss government released a legal framework for Blockchain companies to operate in the country.

Crypto ATMs in Switzerland

One of the most private ways to purchase Crypto is via a crypto ATM. According to CoinATMRadar, there are 101 Bitcoin ATMs for you to try in Switzerland. A majority of these take place in Geneva, Zurich, and Bern.

Is Crypto Legal in Switzerland?

Absolutely, back in August of 2019, Switzerland approved a crypto Bank, albeit with strict regulations. Still, Switzerland’s move was a step in the right direction for crypto, as finding a bank that’s allowed to work with the world of cryptocurrency is tough. Still, it’s necessary for cryptocurrency companies – exchanges and otherwise – to connect with fiat currencies.

Cryptocurrency is not considered legal tender in Switzerland, but that is pretty consistent with other countries stances.

Do you Pay Tax on Crypto in Switzerland?

From what we can tell, any gains from crypto are subject to the Swiss capital gains tax law. Profit earned from Bitcoin mining or other activities are counted as income. As always, we’d highly recommend discussing your cryptocurrency tax situation with a professional.

If you’d like to learn more about cryptocurrency tax software that will help you calculate cost basis, check our guide.

 

How to Buy Cryptocurrency in Indonesia

While the country has had a mixed regulatory stance to Bitcoin and other cryptocurrencies in the country, they’ve made it widely available through several methods.

Back in 2017, the Indonesian government banned Bitcoin as a means of payment.

This being said, Indonesia’s Commodity Futures Trading Regulatory Agency, also known as Bappeti, recognized Bitcoin as a trading commodity in early 2019.

Overall, crypto is still completely legal in the country, and available on local Indonesian exchanges as well as some other global options.

Crypto ATMs in Indonesia

As of this time, there is only one Bitcoin ATM available in Indonesia, and you would find it in Bali. CoinRadar is a site that lists ATMs around the world, so double check there to see if anything has changed.

This might be a quick and easy alternative for investors staying in Bali.

The Bitcoin ATM available in Bali is provided by Indodax, and as the ATM works, you are allowed to make purchases without any identity verifications.

However, the purchase fees are higher when using an ATM as you are required to pay an extra 3 percent.

Do you pay tax on cryptocurrency gains in Indonesia?

Like most places in the world, yes. We’re unable to find the exact information about the tax law in Indonesia, but it is subject to the same taxation as commodities. We recommend speaking with a tax professional specific to your situation.

For more info on software that helps with cryptocurrency tax, check out our list of the best cryptocurrency tax software options.

Are Cryptocurrency exchanges legal in Indonesia?

Before making any purchase, it’s important to bee sure if buying and selling of cryptocurrencies are legal in your country.

As it stands now, there is no law restricting or banning the ownership and trade of cryptocurrencies in Indonesia, although there have been certain developments in recent years by the government which hasn’t been as supportive of a stance.

It also looks like the overall attitude of the Indonesian government towards cryptocurrencies might be negative considering their recent ban on payments expressed in cryptocurrencies. However as an Indonesian trader, you are still very much permitted to have your own crypto assets; buy, sell, and hold them.

How to Buy Cryptocurrency in Thailand

You’re here to learn how to buy crypto in Thailand.

And we’re here to help.

Between all the different options for purchasing crypto, we know it can be tricky when deciding which Bitcoin exchange or brokerage to use.

Crypto ATMs in Thailand

Bitcoin ATM

Crypto ATMs are recommended in a lot of our guides, as they are the best way to buy crypto with cash if privacy is your main concern. In terms of ATM placement around Thailand, we found 9, with three in Bangkok, two in Chiang Mai, one in Pattaya, and more.

Is Crypto Legal in Thailand?

Crypto is 100% legal in Thailand. There are special licenses from the Thai government for allowing businesses to operate with cryptocurrency. In addition to this license, KYC and CDD policies must be in place for exchanges to function. The Thai government has received some criticism for not adapting quickly enough to the rapidly changing cryptocurrency environment, but they are attempting to change this.

Is Crypto Taxed in Thailand?

Crypto appears to be taxed at the 15% level on any capital gains. There were talks of a 7% VAT as well for crypto investors, but this has been waived. We always recommend that you speak to a tax professional in your jurisdiction to make sure they are being done correctly. Also, there is plenty of cryptocurrency tax software out there to aid you in your tax efforts.

How to Buy Cryptocurrency in South Africa

Crypto has gained a lot of interest in South Africa, as its currency is no stranger to inflation, one of the best use cases for Bitcoin and cryptocurrency.

In May of 2020, the South African financial regulators published around 30 recommendations of how the currency and exchanges should be regulated in the country.

From what it looks like, crypto is here to stay in the country.

Crypto ATM’s in South Africa

Crypto ATM’s are another viable option for purchasing crypto. They often allow cash as a payment method, making them great for more private transactions.

In terms of fees, crypto ATM’s can be a bit pricey. Expect around 10% fees when a crypto ATM is used.

To find a crypto ATM near you, check out CoinRadar. Here’s a link to CoinRadar displaying all of the known crypto ATM’s in South Africa.

According to CoinRadar, there are 9 ATMs inside the country with many being in Cape Town.

Are crypto Gains Taxed In South Africa?

As you probably guessed, absolutely. Bitcoin and other cryptocurrencies are taxed as financial instruments in South Africa. To learn more about the exact cryptocurrency tax situation in South Africa, we recommend speaking with a tax professional in your area.

Once you understand how they are taxed in your country, we highly recommend checking out cryptocurrency tax software to aggregate all your trading data and calculate tax for you.

Is Crypto Legal in South Africa?

The simple answer is YES; crypto is legal in SA.

There is no explicit law banning the use of cryptocurrencies in the country. Although the current cryptocurrency plane is SA is unregulated, the government has made specific steps to offer as much legal support as possible.

For example, you should know cryptocurrency trade is also subject to taxation laws in South Africa. It is thus advisable for a cryptocurrency trader in the country to hire a professional tax consultant to ensure they are tax compliant.

Since cryptocurrency earnings might be subjected to tax in South Africa, can you get legal recourse if the need arises?

Probably no. South African Reserve Bank (SARS) has made it a point to warn its citizens that they are at their own risks should they trade Bitcoin or other cryptocurrencies.

The government is, however, working on a legal framework to support virtual assets in the country.

How to Buy Cryptocurrency in Nigeria

Nigeria has become a hotspot for Bitcoin and cryptocurrency for several years now.

This is likely due to the loss of faith in their fiat currency:

The Nigerian Naira.

Just in the year 2017, the Nigerian Naira experienced inflation of 16%.

It’s only natural that citizens of this country have taken an interest in this new technological and economical breakthrough.

Today, we’re here to help you learn how to buy Bitcoin in Nigeria.

Crypto ATMs in Nigeria

Bitcoin ATM

Another way to buy Crypto in Nigeria is to do it via crypto ATMs. This is a very easy method to purchase crypto because ATMs do not ask for sensitive information or private data. Instead, you need to pay higher fees than doing it via a crypto exchange.

But, to find a crypto ATM that works at all times and has low fees is quite a problem. Additionally, the ATM may be located in central areas, leaving those in smaller cities without the chance of buying and purchasing virtual currencies.

At the moment, according to Coin ATM Radar, there are no ATMs available in Nigeria. In the continent, there are crypto ATMs in South Africa, Zimbabwe, Kenya, and Djibouti.

Crypto in Nigeria

According to Google Trends, Bitcoin-related searched are some of the highest in the world in Nigeria.

crypto has gained lots of interest in Nigeria due to loss of faith in their fiat currency. Below you can view Bitcoin trading volumes in Nigeria, on one of the exchanges we mention in this guide: LocalBitcoins.

LocalBitcoins Volume Nigeria

Are Crypto Gains Taxed in Nigeria?

We are struggling to find out information on whether to not crypto is taxed in Nigeria. We recommend speaking to a qualified tax professional in your country to learn the best course of action.

In the event there are taxes required on crypto gains in Nigeria, we’d recommend checking our guide to cryptocurrency tax software.

Is Crypto Legal in Nigeria?

Crypto is legal in Nigeria, although it’s not recognized as a legal tender. This is common in many countries as the governments are still looking for ways to regulate the currency.

How to Buy Cryptocurrency in New Zealand

Hey Kiwi! Did you hear the hype around crypto and looking to buy?

Well, you came to the right place.

Here in 2020, buying crypto in New Zealand has never been easier. There are many exchanges to chose from.

Kiwi’s have shown significant interest in cryptocurrencies in recent years.

However, you want to avoid using a fraudulent exchange.

In 2019, New Zealand based exchange Cryptopia was hacked for an estimated USD$16 million. The exchange closed and is currently undergoing bankruptcy.

You want to avoid disasters like that, and a guide like ours will help you do just that.

Luckily, exchanges today are much more trustworthy and easier to use. Creating an account, getting verified, and buying cryptocurrencies can take less than 24 hours.

Yes, within 24 hours you can own cryptocurrencies.

All from the comfort of your own home.

What is the Best Exchange in New Zealand?

There is no exact answer, as depending on the payment method certain exchanges will be better than others.

However, Coinbase and Kraken are two great options for buying crypto in New Zealand.

Is Crypto legal in New Zealand?

Yes. Buying or selling crypto in New Zealand is completely legal.

However, New Zealand does not recognize bitcoin and other cryptocurrencies as money. You cannot use cryptocurrencies to pay taxes.

How does the IRD classify cryptocurrencies?

The IRD classifies cryptocurrency as property. It’s treated very similarly to owning a residential house or land.

Can crypto gains be taxed in New Zealand?

Yes. The Inland Revenue Department (IRD) states that “[c]ryptocurrency is treated as property for tax purposes. There are no special tax rules for cryptocurrencies—ordinary tax rules apply.”

What is considered a taxable event in New Zealand?

This when you need to pay taxes on your cryptocurrency. Common taxable events include:
– Selling cryptocurrency on an exchange
– Trading your cryptocurrency from one type to another type (ie. Bitcoin to Ethereum)
– Using cryptocurrencies to purchase goods and services
– Mining activities.

Do New Zealand banks accept crypto ?

No. You cannot convert your crypto into cash (or vice versa) directly via a bank. You will need to register with a cryptocurrency exchange.

What factors determine the best Crypto Exchange?

Customer support, reputation, and ease of use are the most important factors to consider when selecting an exchange.

Newcomers: Coinbase – For those who want quick and easy access to cryptocurrencies.

Advanced Traders: Kraken – For more experienced traders who want advanced trading tools and sophisticated trading products.

How to Buy Cryptocurrency in Japan

We get it, you’re here to buy your first crypto .

We’re here to help.

Japan is one of the world’s largest leaders of cryptocurrency adoption.

As recently as April 2020, the Japanese government rolled out even more legislation surrounding crypto and cryptocurrency in the country.

If there’s one thing for sure, crypto is here to stay in Japan.

Crypto ATM’s in Japan

Crypto ATM’s are one of the best ways to buy crypto if privacy is a large concern of yours. At press time CoinRadar claims there’s n0 crypto ATMs inside Japan. If this changes, we’ll let you know. If you do know of one in Japan, leave a comment below!

Are there taxes on Crypto Gains in Japan?

TokenTax.co has a great guide on paying cryptocurrency tax on Japan. Depending on your tax bracket, it appears you’ll pay anywhere from 5%-45%. As always, consult a tax professional in your location to get the best advice.

When you’ve got it all sorted, we do recommend using cryptocurrency tax software in order to simplify the process.

Is crypto Legal in Japan?

Crypto couldn’t be more legal anywhere else. Japan has one of the most positive and welcoming climates for crypto and cryptocurrencies, and it is no coincidence that it leads many other countries in blockchain startups.

The anonymous founder of Bitcoin—Satoshi Nakamoto—sports a Japanese name, which suggests Japanese roots, but the embracing nature of Japan towards cryptocurrencies goes far beyond sharing filial roots with a mysterious founder.

In April 2017, the Japanese government released a directive that listed Bitcoin and other cryptocurrencies as a legal property that is listed on the Payment Service Act.

There are only very few countries where virtual currencies are recognized legally.

Is it Safe to Trade or Buy crypto in Japan?

Japan has suffered some of the most high profile of attacks in the crypto space, and the earliest too. The Mt. Gox exchange was the first and biggest exchange as of 2012 and was handling millions of the world’s Bitcoin transactions.

By getting involved even when Bitcoin had little value, Mt Gox grew very quickly to be the major exchange in the world, and its successful hack shocked and took the crypto community by surprise.

On closer inspection, however, no one should have been shocked, and Mt. Gox had had it coming for a long while. Formerly, a game hub, its conversion to an exchange handling millions of transactions ensured it grew big with ever-increasing security loopholes.

After Mt Gox hack, 6 percent of the world’s total Bitcoins went completely missing, and not only Japan was hit with devastating news, the whole world was.

It wouldn’t end there though. As a matter of fact, after Mt Gox, Japan had lost close to a billion-dollar worth of coins. Coincheck which lost $530 million last year was the highest profiled since Gox.

With all these losses, is it safe to buy and store your cryptocurrencies in Japan exchanges? It never probably is a hundred percent, it is much safer to store your coins in personal and cold wallets.

The recent strict regulations imposed by the FSA to tighten cybersecurity could be an excellent stroke to tighten security shortly, and with growing involvement by Japan regulatory bodies, the cryptocurrency industry is only getting safer by the day.

Making money online is nice, but there’s typically some risk to it.

How to Buy Cryptocurrency in Italy

Buying crypto in Italy is pretty easy to do these days.

Located in the European Union, Italy and many others have developed several laws surrounding the regulation of crypto in the country.

Crypto trading to more than 1.2 million people during the COVID-19 lockdown, according to CoinTelegraph.

Crypto ATMs in Italy

Italy also has a lot of crypto ATMs – 59, to be exact – mostly in the north of the country.

If you’d rather keep your identity private, crypto ATMs are a great way to acquire crypto.

Bitcoin ATM

Is crypto taxable in Italy?

As you could probably guess, crypto is certainly taxable in Italy. Have you ever known a government to not take tax wherever they can?

In 2016, the European Union passed a law stating crypto to fiat transactions incur no tax.

If you’d like to learn more about cryptocurrency tax software, feel free to check out our best cryptocurrency tax software guide!

Is crypto legal in Italy?

Absolutely, crypto is completely legal in Italy. The Italian government has dealt a fair amount of legislation grouping cryptocurrencies. Given the Italian governments cautious but openness to regulating cryptocurrency, we know it’s completely legal and here to stay!

Is it profitable Mine crypto in Italy

Italian’s pay a hefty price for their electricity, coming in at 0.238 Euros per kWh ($0.258). Although it’s middle of the pack in terms of European electricity prices, it’s far too much for Bitcoin mining, at least if you want to have any hope of turning a profit.

Even the best mining hardware isn’t profitable in Italy. Buying Bitcoin directly from an exchange is definitely your best bet.

How to Buy Cryptocurrency in India

India as a country has taken pretty kindly to crypto as the country is no stranger to currency issues.

Back in 2016, the Indian government announced the demonetization of the 500 and 1000 Rupee bills.

This was a pretty controversial move by the Indian government and led to many citizens becoming even more in favor of cryptocurrency.

Due to the mass movement towards technological innovation, the Indian government took a regulatory stance towards cryptocurrency and claimed to lay down a ban on Bitcoin or other cryptocurrencies.

At press time, crypto is still completely legal to buy in the country.

And that’s why you’re here.

Crypto ATMs in India

Crypto ATMs are a great method to buy crypto privately, according to the source CoinATMRadar however, there’s only one ATM in the country located in Delhi. If this ATM is nearby, it’s definitely a solid option.

Is crypto legal in India?

Absolutely, despite the media’s various claims of Bitcoin and cryptocurrency being banned in India, there’s nothing definitive. Many cryptocurrency companies are licensed to operate in the country.

Are crypto Gains Taxable in India?

From basic research, we’ve concluded Bitcoin and cryptocurrency gains in India are subject to a capital gains tax. We’d recommend speaking to a tax professional to ensure that you’re taking the necessary steps and paying the correct amounts. For assistance with that, we recommend learning more about cryptocurrency tax software.

How to Buy Cryptocurrency in Israel

If you’re from Israel and want to buy crypto , we’ve got you covered.

Is crypto Legal in Israel?

Crypto is completely legal in Israel, otherwise, exchanges wouldn’t even be allowed to operate! A recent 2019 Israeli court ruling supported the 2017 stance that crypto is legal in Israel. Like most places, Israel does not consider crypto to be legal tender, but citizens are certainly allowed to own and hold a cryptocurrency.

Is crypto Taxed in Israel?

At the moment, crypto is taxed just like any other capital gain at a pretty large percentage of 25%. That being said, recently, four members of Israel’s Knesset proposed to reclassify Bitcoin and other currencies over the 1 billion Shekel mark as distributed virtual currencies, allowing them to be taxed differently.

As always, it’s important to consult a tax professional when filing your cryptocurrency taxes. To help with taxes, we definitely recommend our guide on cryptocurrency tax software.

How to Buy Cryptocurrency in France

Bonjour friends from France!

You’re here because you want to buy Bitcoin in France. We’ve got you covered.

crypto’s been out of the headlines in France for most of 2020, likely due to world events such as the Corona Virus.

In March, the French government ruled Bitcoin as a “money”, and therefore regulated in a similar way.

There are several exchanges to choose from in France and the rest of the European Union. Luckily, we’ve created this guide to help you sort through all of the options.

Crypto ATMs in France

To learn more about crypto ATMs, check out this map. According to CoinATMRadar, France has 7 Bitcoin ATMs, with 5 being in Paris, and 2 in Nice.

Bitcoin ATM

How common is crypto use in France?

Two great fundamental analysis indicators we can use are crypto trends volume as well as LocalBitcoins trading volume.

According to Google Trends search data, the search behavior for crypto in France is pretty consistent with price spikes.

Bitcoin Trends France

Do you pay tax on cryptocurrency gains in France?

Read this guide to learn more about cryptocurrency tax law in France. For some information about cryptocurrency tax software, check out our roundup review. There’s a pending amendment that will subject cryptocurrency gains to be taxed via capital gains, which is actually a step down from its current bracket. This will lead to a 6.2% reduction in tax! Not bad.

Is crypto legal in France?

Crypto is definitely legal in France. In a March 2020 ruling, the French government ruled Bitcoin and cryptocurrency to be regulated in the same manner as foreign currencies. This is pretty consistent with other European countries such as Italy.

How to Buy Cryptocurrency in Denmark

With Denmark having a general pro cryptocurrency stance and being in the European Union, pretty much all of the exchanges that are supported in the EU will be supported in Denmark.

Is crypto Legal in Denmark?

Crypto is absolutely legal in Denmark as a payment tool and an investment vehicle, that being said, it’s not legal tender as is the case in most places. The Danish government specifically has not pushed out too much legislation regarding cryptocurrency. Their main stance is tolerant but aware of the AML issues that come with it. Here’s what they’ve said:

However, the Danish Financial Supervisory Authority has issued statements explaining that Danish laws may apply depending on the nature of the crypto asset and how it is used.

Is crypto Taxed in Denmark?

Have you ever known a government to not get the most money they can? In December of 2019, the Danish government sent over 20,000 warnings letters to cryptocurrency owners asking them to correct their tax returns and that Bitcoin and crypto are in fact subject to tax returns. We recommend speaking with a tax professional, but from the research, we’ve conducted it is taxed like any other asset or property, subject to capital gains tax.

If you’d like some help on your cryptocurrency taxes, check out our post on cryptocurrency tax software.

Are there Crypto ATMs in Denmark?

At press time, there are no crypto ATMs in Denmark. We find this unusual given the European Union’s general stance on cryptocurrency and Bitcoin. That being said, some neighboring countries like Germany, the Netherlands, and Sweden have Bitcoin ATMs if this is the method you want to use.

How to Buy Cryptocurrency in Canada

Here in 2020, buying Bitcoin in Canada has never been easier. There are many options to choose from, with each exchange having its own strengths and weaknesses.

The last headache you want is to deposit your money in a fraudulent exchange.

In 2019, the Canadian Bitcoin exchange QuadricaCX was the largest Canadian exchange that went bust and made off with $250 million in customer deposits.

You want to avoid disasters like that, and a guide like ours will help you do just that.

Luckily, Canadian exchanges today are much more trustworthy and easier to use. Creating an account, getting verified, and buying cryptocurrencies can take less than 24 hours.

Yes, within 24 hours you can own cryptocurrencies.

All from the comfort of your own home.

Crypto ATMs in Canada

Bitcoin ATM’s are appearing more and more as Bitcoin’s adoption increases.

Bitcoin ATM’s allow you to buy Bitcoin with cash. This is one of the more private options although there are typically 5% fees when used.

Use this map to find Bitcoin ATM’s near you.

What is the Best Crypto Wallet in Canada?

Unlike exchanges, bitcoin wallets are not tied to specific countries. This means you can use wallets made in other countries.

The most secure option to store your crypto is to use a hardware wallet. We recommend the Ledger Nano X. You can learn more about it here.

The best wallet for the iPhone is Breadwallet. You can read our review here.

The best wallet for Android is MyCelium. You can read our review here.

For a comprehensive review of other wallets, visit our comparison review.

What is the Best Exchange in Canada?

There is no exact answer, as depending on the payment method certain exchanges will be better than others.

However, Coinbase and MyBTC.ca are two great options for buying crypto in Canada.

How do I cash out crypto in Canada?

Selling your crypto in Canada has never been easier. It’s as simple as a 5 step process:

  • Go to bitbuy.ca and create an account
  • Submit your ID documents and get verified
  • Send your crypto from your wallet to the exchange
  • Sell your crypto on the exchange
  • Withdraw the funds from the exchange to your bank account via e-transfer

Is Crypto legal in Canada?

Yes. Buying or selling bitcoin in Canada is completely legal.

However, Canada does not recognize bitcoin and other cryptocurrencies as legal tender. This means that you cannot use cryptocurrencies to pay taxes.

All Canadians are able to buy or sell cryptocurrencies on exchanges. Canadians are also permitted to use cryptocurrencies to buy or sell goods and services so long as the merchant accepts cryptocurrencies.

Can Crypto gains be taxed in Canada?

Yes. Using crypto does not exempt people from Canadian tax obligations.

The Canadian Revenue Agency (CRA) views crypto and other cryptocurrencies as commodities and not a government issue currency.

The income you gain from selling crypto can be considered business income or a capital gain.

For Canadian Businesses:

If you are a business that has accepted crypto as payment, the CRA has classified this as a barter transaction. The value of the goods purchased using digital currency must be included in the seller’s income for tax purposes. The amount to be included would be the value of the goods in Canadian dollars.

The CRA has stated that “GST/HST [Goods and Services Tax/ harmonized sales tax] applies on the fair market value of any goods or services you buy using digital currency.

For Canadian Individuals:

According to the Financial Consumer Agency, gains or losses from selling or buying cryptocurrencies must be declared when filing taxes.

If you personally had purchased crypto and later sold it for a profit, you would be subject to a realized taxable gain. Only 50% of the gain is taxable.

To help keep track of your cryptocurrency gains and losses we recommend you read our tax software comparison.

Do Canadian banks accept Crypto?

No. You cannot convert your crypto into cash (or vice versa) directly via a Canadian bank. You can send e-transfers from your bank to a bitcoin exchange to make the conversion.

What Exchanges Allow Interac Transfers?

Nearly every exchange mentioned in this guide will accept Interac transfers as it’s a popular method in Canada. For more information about buying Bitcoin with Interac, read our full in-depth guide.

What factors determine the best Canadian Crypto Exchange?

When deciding which exchange to buy Bitcoin on, you will have to consider a number of factors such as supported payment methods, trading volume, fees, delivery speed, limits, and community reputation.

Depending on how fast you need your Bitcoin, or what payment methods you have available, certain exchanges will be better than others.

There are many cryptocurrency exchanges to choose from. Depending on if you’re a newcomer to space or a more experienced trader, we have a recommended exchange for you.

Newcomers:

Bitbuy – For those new to space and want to quickly and easily purchase cryptocurrencies.

Advanced Traders:

Kraken – For more experienced traders to want advanced trading tools and more sophisticated trading products.

How to Buy Cryptocurrency in Australia

Australia has taken pretty kindly to cryptocurrency as technological innovation.

In 2018, Austrac came out with regulations surrounding cryptocurrency, allowing companies to operate clearly within the law and serve the country.

They’ve licensed over 200 exchange services in the country already!

Now that you have some background on Bitcoin in Australia, this post will compare and contrast all of the exchanges that sell Bitcoin in Australia.

Crypto ATMs in Australia

Crypto ATMs are a great way to purchase crypto for those concerned with privacy a the cost of some extra fees. According to CoinATMRadar, there are 19 Bitcoin ATMs in Australia, with 2 in Adelaide, 11 in Melbourne, and 6 in Sydney.

Is Crypto Legal in Australia?

Cryptocurrency is 100% legal to use in Australia, in fact it’s one of the world leaders in terms of Bitcoin and cryptocurrency adoption. AUSTRAC, the Australian Transaction Reports and Analysis Center had a ruling in 2018 with some regulations for cryptocurrency and exchanges.

Are Crypto Gains Taxed in Australia?

As you’d expect, yes Bitcoin and cryptocurrency gains are taxed in Australia. For more information about cryptocurrency tax specifically to Australia, check out the official government website documentation. Once you’ve understood how tax is processed in the country, you may find cryptocurrency tax software useful for filing your taxes.

What is BPay?

BPay is an electronic billing system used in Australia. Of the above-mentioned exchanges, CoinJar accepts the method. In order to add a BPay account to CoinJar head to the contact page and add a new BPay biller. You’ll be asked to provide:

  • BPAY Biller Code
  • Reference Number
  • Biller Nickname

Lastly, you’ll need to verify your identity on the exchange.

According to CoinJar:

Paying BPAY Billers using CoinJar can earn you CoinJar Points. Currently, CoinJar Points are earned at a rate of 1 per every $5 sent. So paying a $125 BPAY Biller using your CoinJar would earn 25 CoinJar Points.

What is the Australian government’s stance on Crypto?

The Australian government has commented on Bitcoin in a few cases. On ato.gov, they mention Bitcoin tax implications. They’ve even funded a Bitcoin exchange startup with over $8.3 million in funding.

The service mentioned is TravelByBit and is a way to book activities such as flights, cruises, tours and more using cryptocurrency.

 

How to Buy Cryptocurrency in UK

Crypto has had a place in the United Kingdom ever since it’s creation.

According to the UK’s top financial regulator, the country has seen mass increases in consumer adoption.

A recent study concluded 2.6 million residents have purchased Bitcoin or cryptocurrency.

If you remove those under 18, 5.35% have held or own cryptocurrency before.

Today, we’re going to help you join this smart bunch and assist you in buying crypto.

 

Crypto ATMs in the UK

Bitcoin ATM

Crypto ATMs are a great way to purchase crypto privately and with cash. According to CoinRadar, there are 279 Bitcoin ATMs scattered across the country. Many of the ATMs are in Londom, Birmingham, Glasglow, and Southampton.

Check out this video of Crypto Notes going to a Bitcoin ATM in London.

Is Crypto Legal In The UK?

Crypto has a good reception in the United Kingdom. In fact, the UK has campaigned for more support for crypto from its regulatory body. Certain tax regulations apply to the use of crypto in the UK.

To add to this, the United Kingdom has seen it fit to create a cryptocurrency that will be regulated and backed by the government.

In the near future, it is expected that large scale payment of cryptocurrency will begin as the UK Financial Conduct Authority is making plans towards its implementation.

Is there a Tax on Crypto Gains in the UK?

Where is there not!?

You can learn more about the UK government’s stance on cryptocurrency tax law. Cryptocurrency in the UK is subject to capital gains tax. If you’re interested in cryptocurrency tax software, we also have an article on that!

Crypto Adoption In The UK

The current Brexit drama has brought about increased adoption of crypto in the UK. As March draws near, when the UK will leave the EU, a lot of concerns have been raised about the £70 trillion worth of trades that are hanging in the balance.

Unless something drastic is done to prevent such a huge loss, it could be very problematic for all parties involved.

With the uncertainty surrounding the Brexit, a lot of UK residents are moving in the direction of crypto to secure their wealth.

In recent years, many crypto startups have sprung up in the UK as the adoption of crypto has continued to grow.

The growing rate of crypto adoption in the UK also comes a number of crypto scams; one of them is the loss of £120,000 by Matalan and Pathé UK to crypto scammers.

The fraudsters made their move by claiming to be Elon Musk, a Silicon Valley entrepreneur, promising a fake cryptocurrency giveaway which led to the hacking of the company’s Twitter account and the stealing of £120,000.

Crypto Regulation in the UK

All indications suggest that the UK Financial Conduct Authority may soon regulate cryptocurrencies.

The UK government has expressed readiness to empower Britain’s financial regulator to supervise all crypto assets because of the warning from MPs which described digital assets as “wild west” assets that are high risk for consumers.

The Financial Conduct Authority (FCA) is the regulatory body that oversees digital assets, and the Treasury select committee has called for more to be done by the regulatory body to ensure that investors are protected and also for money laundering to be prevented.

Treasury’s economic secretary and City minister, John Glen, stated: “The government will consult early next year to explore whether other crypto-assets that have comparable features to specified investments but that fall outside the current perimeter should be captured in regulation.”

How to Buy Cryptocurrency in Malaysia

You’re here to learn how to buy crypto in Malaysia.

We’ve done the research, and here’s what we’ve found.

Do you pay tax on Crypto gains in Malaysia?

At press time, from what we can gather, Malaysia does NOT take capital gains tax from Bitcoin and other cryptocurrencies.

As always, we recommend consulting a tax professional when it comes to cryptocurrency taxes.

What is the best Crypto exchange in Malaysia?

While there is no exact “best” exchange, the exchange with the lowest fees is Luno.

Luno has 0%-1% trading fees depending on trading volume. Other exchanges have much higher fees or premiums, making them not optimal.

However, depending on which payment method you want to use, a different exchange other than Luno may be better.

Is Crypto banned in Malaysia?

Nope! The Malaysian government has been pretty friendly towards crypto and other cryptocurrencies so far.

In a recent ruling, the Malaysian government has said they have no intention to ban the trading of crypto.

What App Can I Buy Crypto within Malaysia?

Luno is one of the best exchanges and has its own app allowing the buying, selling and trading of crypto.

Luno’s app is aesthetically pleasing and makes it easy for you to trade crypto on the go.

Of the exchanges mentioned above, they are the only one with an app for iOS and Android.

In addition to trading, the app also offers a wallet, however, it is not recommended to leave cryptocurrency on exchanges.

Luno is a trustworthy exchange and hasn’t had any security issues on the app.

As always, use two-factor authentication to add an extra line of defense to your accounts.

Which Malaysian Crypto exchange has the highest limits?

Luno has limits of over 300,000 MYR a month once full verification is done. 300,000 MYR is around $74,000 USD, while Coinmama’s monthly limits are $20,000.

 

How to Buy Cryptocurrency in Germany

Germany is a country that’s no stranger to technology innovation.

Some of the world’s most useful inventions like automobiles, bicycles, and X-rays have come from here, or at least the German people.

While we don’t know if Satoshi Nakomoto is German or not, we do know that you’re here to learn how to buy Bitcoin in Germany.

Crypto ATMs In Germany

According to CoinRadar, there are several options for crypto ATMs in the country. Cities with crypto ATMs include Frankfurt, Berlin, Hannover, Munich, and more.

How Do I Buy Crypto In Germany Instantly?

Of all the options mentioned above, the ones that will allow you to purchase crypto instantly will be brokerages. This means Coinbase, Bitpanda, CEX.io, and Coinmama.

How Do I Buy Crypto In Germany With Cash?

Buying Bitcoin in Germany with cash can be done in a few ways. The most popular one is the peer to peer service known as LocalBitcoins. Crypto ATMs are another great way to purchase crypto with cash.

Does Germany Require Paying Tax on Crypto capital gains?

I have a feeling you know the answer to this one. The German government, like most others, want to get their hands on as much tax money as possible. Cryptocurrency is no stranger to that.

That being said, German cryptocurrency tax law does have some favorable advantages for crypto holders. Assuming you’re a resident of Germany, and Bitcoin and cryptocurrency held for over 1 year, is not subject to tax.

Want help with your cryptocurrency taxes? Check out our best cryptocurrency tax software list to make your taxes a breeze.

How to Buy Cryptocurrency in South Korea

We know why you’re here.

You’re from South Korea and want to purchase your first crypto.

South Korea is a country that’s accepted crypto with open arms.

In March 2020 amidst the COVID-19 pandemic, the Korean government announced a framework for citizens and exchanges to legally operate with cryptocurrency inside the country.

All of this legislation was done to bring cryptocurrency and the innovations it brings safely to its massive population.

Are Crypto Gains Taxed in South Korea?

South Korea recently announced that crypto and cryptocurrency gains in the country are subject to a 20% tax, for any amount of $2,000 or 2.5 million Won. This is a much clearer stance and approach than many of the countries in the world. As always, consult a tax specialist to help you with your specific situation.

When it comes to making filing your taxes easier, we’d definitely recommend looking into cryptocurrency tax software.

Is Crypto Legal in South Korea?

The short answer is yes! However, going on, things might become a little more complex than that.

Despite having one of the richest hubs for cryptocurrencies and blockchain technology all over the world, South Korea has one of the most stringent crypto regulations across ‘crypto-accepting’ countries.

One of the best attributes of cryptocurrency trading is anonymity; in South Korea, there isn’t much room for hiding your identity, if you are serious about buying any crypto anyway.

2017 was responsible for one of the craziest frenzies for cryptocurrencies and South Koreans were at the heart of things during the extraordinary rise of crypto to reach an all-time high of about $20,000.

A study revealed that more than 80 percent of Korean cryptocurrency investors reported a significant profit in their investments: while the number is impressive, the frenzy surely did not last long.

The South Korean government came down hard on the cryptocurrency sector in the country and brought things to an abrupt end, albeit for a short time.

Check out this cool video interviewing people on the street about crypto in South Korea.

How to Buy Cryptocurrency in Singapore

You’re here because you want to purchase crypto in Singapore.

But are unsure which exchange is the best for a beginner.

Most readers will find the most success with Coinbase.

However…

In life or cryptocurrency, there’s never a one size fits all option.

Don’t worry, as this is where Bitpremier comes in.

This guide will cover how to purchase Bitcoin in Singapore with all payment methods imaginable.

Crypto ATMs in Singapore

The number of Bitcoin automated teller machines (ATMs) has grown exponentially over the past few years thanks to the rising popularity of the cryptocurrency. The global count of Bitcoin ATMs has shot up from 471 in January 2015 to 4,213 at present, according to Coin ATM Radar.

Singapore currently has 9 Bitcoin ATMs according to Coin ATM Radar, where Bitcoin buyers can go, deposit fiat currency, and get their cryptocurrency instantly. The machine will accept the cash and deposit the Bitcoin into the buyer’s wallet.

So a Bitcoin ATM gives users a fast and easy way of getting their hands on the cryptocurrency as they can skip the sign-up and verification process. All that you need is a safe and secure wallet where the ATM will send the digital currency.

But this convenience comes at the cost of high transaction fees that reportedly average as high as 8.93%. However, the transaction fee seems to be on the lower side in Singapore, with Coin ATM Radar reporting that ATMs charge between 2.9% and 5% on Bitcoin purchases.

Still, the fees are high when compared to an exchange such as Gemini. So, even though Bitcoin buyers in Singapore have an alternate method of buying Bitcoin, they should consider taking the pain of signing up and verifying on an exchange to buy the digital currency and avoid high transaction fees.

Crypto in Singapore

Singapore’s largest bank, DBS, had labeled Bitcoin as a Ponzi scheme in November 2017. Additionally, the Inland Revenue Authority of Singapore views Bitcoin not as a currency but as goods, so anyone transacting using the same has to pay goods and services tax.

What’s more, the Singapore Law Ministry has come up with a bill to ensure that cryptocurrencies aren’t considered a legal tender, and has also warned businesses from accepting payments in cryptocurrencies.

However, Singaporeans interested in buying Bitcoin for making peer-to-peer payments, or as a means of investment, can easily get their hands on the cryptocurrency thanks to a range of options. Let’s take a look at the various ways one can buy Bitcoin in Singapore.

In May 2018, digital asset banknote maker Tangem launched smart Bitcoin banknotes in Singapore with an aim of making the ownership and circulation of the cryptocurrency more mainstream in nature.

These notes are available in denominations of 0.01 BTC and 0.05 BTC and can be purchased from the company’s Suntec City outlet in Singapore.

Of course, buyers will have to load Bitcoin into the banknote from their wallet, but anyone looking to buy Bitcoin can simply buy a Tangem banknote from someone who already holds it.

Tangem claims that its tamper-proof chip technology will prevent the banknotes from hacker attacks.

Users simply need to touch the banknote using a smartphone with NFC capability to find out if it holds valid Bitcoin. If it does, the user can simply pay an equivalent amount in fiat currency to the banknote holder to buy their Bitcoin.

More importantly, Tangem was aiming to circulate 1 million banknotes by the third quarter of 2018 so that they can be used just like physical cash at retail chains and convenience stores.

So getting access to one in Singapore shouldn’t be difficult in the future. What’s more, Tangem says that there are no transaction fees associated with these smart banknotes, so they give users probably the cheapest way of buying Bitcoin in Singapore.

In the end, it can be concluded that there are both traditional and innovative ways to buy Bitcoin in Singapore that users can choose from, depending on a variety of factors such as associated costs, convenience, and availability.

How to Buy Cryptocurrency Using Interac eTransfer

Interac transfers are a payment vehicle used exclusively in Canada.

It’s not available in the United States, or anywhere else. In most cases, it functions as a method to allow personal and business bank accounts to transact with each other.

Buying crypto via Interac E-Transfer is a popular option for Canadian residents.

These days, it’s pretty easy to do thanks to the exchanges we mention below.

Coinsmart

Coinsmart is a 100% Canadian exchange dedicated to helping cryptocurrency beginners buy their first coins. Featuring instant verification, 24/7 customer support, and a large variety of methods, it’s a great option for beginners.

Coinsmart’s fees include trading fees, withdrawals, and funding fees. When it’s all said and done, expect around a 1.2%-2.7% fee on your cryptocurrency buys and sells. Last but not least, Coinsmart’s assets are secured by BitGo by a 100M insurance policy.

Visit Coinsmart

MyBTC.ca is Canadian crypto brokerage site that allows Canadians to buy crypto with both instant and same-day payment methods. These include:

  • Interac e-Transfer
  • Bank Wire
  • Instant Debit
  • Flexepin vouchers
  • Cash & Interac at Canada Post

In terms of buy buying limits, you can purchase anywhere from $50 all the way to $100,000. The exchange requires ID verification that can be submitted online and is usually approved within 1-hour.

If you prefer to complete it yourself in-person you can, thanks to an agreement with Canada Post and their 4,000+ locations nationwide.

For support, the exchange is available through live chat, SMS text, phone or email.

Lastly, in terms of fees, the exchange ranges from 4.75-7.75% depending on the payment method used.

Visit MyBTC.ca

What are the benefits of using Interac?

Interac is definitely one of the best payment methods for Canadians buying crypto. This method features much lower fees than if you were to use a credit or debit card to buy crypto. It’s also a trusted payment method in the finance world, so safety issues are not really a concern.

Are there downsides to using Interac?

Interac has been proven to be a safe option for transactions. The only possible downsides are delivery speed and the possible fees that certain exchanges will charge for Interac compared to other options. For the most part, we would say no, there are no downsides to using Interac E Transfer.

How to Buy Cryptocurrency Using SEPA

Buying crypto with a SEPA transfer is a common method for our European friends.

SEPA (Single Euro Payments Area) is a popular cross border Euro banking option.

At press time, there are 36 countries that are members.

It was created with the goal of reducing the costs of transferring value across Europe. It’s no surprise many cryptocurrency exchanges have adopted it as a method for users to send their funds to and from.

What are the advantages of buying Crypto via SEPA?

SEPA transfers are absolutely great for purchasing crypto at the lowest price possible. They fall under the category of bank transactions which means their total fees are around 1%-1.5%.

This is pretty good compared to using a credit or debit card which can have anywhere from a 4% fee to a 7% one!

Other than that, there are not too many differences in which payment method you decide to use.

What are the disadvantages of buying Crypto via SEPA?

The only disadvantages involved with SEPA are that the funds may take a few days to reach your account. You’ll still be able to buy crypto and lock in your price, but you’ll not be able to move crypto off the exchange until the funds arrive.

The only other possible disadvantage is that you are linking a bank account and any transactions in this are typically irreversible in the event of a hack or some sort of identity theft.

We’ve yet to see something like this happen in the cryptocurrency exchange world but it is something to think about.

What is the fastest way to buy Crypto via SEPA?

Out of the three options we mentioned, all of their limiting factors on delivery speed are the time to verification. They are all relatively quick (typically 1 hour), so other than that you’re just waiting on the funds to arrive through the SEPA system.

One thing to note is that even though many of these exchanges will need for the funds to arrive to take crypto off the exchange, they will give you credit to buy crypto instantly.

How to Buy Cryptocurrency Using Paypal

Here’s the deal:

Buying Bitcoin with Paypal is not an optimal method to do these days.

It’s a method that incurs high fees, low limits, among other issues.

Unless Paypal is your ONLY option, we highly recommend using a bank account or credit/debit card.

If you’re still determined to use Paypal… it’s possible with the main way being LocalBitcoins and eToro.

Now if you’re convinced in buying Bitcoin via Paypal, let’s jump into how it’s done!

You Can Buy Crypto on Paypal

As of October of 2020, it became possible to buy crypto directly on the Paypal platform.

However, there is an important caveat: you cannot withdraw your crypto. All you can do is buy them, hold them, and sell them in your account.

This really means it is only useful for speculating on the crypto’s price.

Does Virwox still work to buy Crypto with Paypal?

Virwox had been around for years and has a pretty good reputation in the community. It was the leading method to purchase Bitcoin with Paypal. Unfortunately, in 2020, this method is no longer supported.

Can I sell Crypto to my Paypal account?

This you can do! Coinbase allows you to sell Bitcoin with Paypal on their exchange and receive a balance in your Paypal account. Any Paypal transaction takes around 3% fees so keep that in mind.

Can I buy Crypto with Paypal on Coinbase?

No, unfortunately, only the selling of Bitcoin and other cryptocurrencies to Paypal is supported. It is possible this feature gets added in the future. Please note that when selling anything to Paypal, they will take a 2.99% fee + $.30.

History of Paypal and Bitcoin

Paypal was close to accepting Bitcoin at one point a few years back. Many feared that Paypal wouldn’t actually hold onto their Bitcoin supply and could cause a negative effect on the price of Bitcoin.

Vendor acceptance of Bitcoin is inevitable as it becomes a more widely accepted currency.

One of the CEO’s of Paypal has gone as far as to say that Bitcoin is a scam. It is possible the pressure of Bitcoin taking over his industry has to lead him to these thoughts. Why does Bill Harris think this?

For one, he says that Bitcoin has no intrinsic value. Fiat currencies do not either and are simply paper or certificates with a predetermined value.

Another complaint of Harris is that Bitcoin is too volatile to become a currency. Volatility hurts somethings use as a store of value but does not affect its job at being a currency.

Items and services can be priced in any amount of Bitcoin possible as long as both parties accept.

Lastly, Harris claims that Bitcoin is mostly used to break the law, which is a foolish statement considering how much the dollar and other fiat currencies are used for criminal activity.

Bitcoin is more about censorship resistance making it near impossible for anyone to cause a transaction to not go through.

Funny enough, Peter Thiel another former Paypal CEO is known for his bullish comments comparing it to gold.

Check out Ivan On Tech’s video on Paypal and Bitcoin:

 

How to Buy Cryptocurrency Using Neteller

You’re here because you want to purchase crypto via Neteller.

While it’s not a widely supported option, services like eToro allow you to purchase crypto and other cryptocurrencies.

If you’d like to learn about some of your other Neteller options, keep reading!

What is Neteller?

Neteller is an online transfer service used by merchants around the world. They’re often compared to services like Skrill or Paypal. Think of them as an E-wallet that can be accessed around the world. They charge a fee for moving funds onto the service, but offer free transfer of funds on the platform.

Is Neteller Safe?

Definitely! It’s a widely trusted service by many. They have customer support available at all hours and encrypted with SSL among other levels of security. There’s been no issue with any major hacks.

How to Buy Cryptocurrency Using Cash

You’re here because you want to purchase crypto using cash.

But, you’re not sure how to go about doing so. That’s where Bitpremier comes in.

Buying crypto with cash is one of the most private ways of obtaining crypto .

However, due to the high levels of privacy offered, there are usually some premiums associated with the price.

Now that you know why you’d want to purchase crypto with cash, we’ll go over some of the most popular methods.

LocalBitcoins

how to buy on localbitcoins
This is likely THE most popular way to purchase Bitcoin with cash. LocalBitcoins is an escrow service that assists in person to person transactions of Bitcoin.

On the exchange, you’ll see vendors offering different deals involving different payment methods. In this case, you’ll want to sort for cash offers and enter an amount. Typically, the higher the amount the better rate you will get.

Once you find a seller that you’d like to purchase from they will have steps on how to proceed with the transaction.

Usually, this involves receiving the seller’s bank information and depositing into their account. Once this is done upload a receipt and your Bitcoin will be sent to the designated address!

It’s important to note that LocalBitcoins charges 1% for their escrow services. This will be on top of any premium sellers have on the exchange.

Visit LocalBitcoins

Wall of Coins

wallofcoins

Wall of Coins is a cash-based exchange that facilitates person to person transactions. No credit cards, debit cards, Paypal, or anything else is supported on the exchange.

At press time, Wall of Coins is ONLY supported in the US but this is changing soon.

The service works in a few simple steps.

  1. Find A Seller
  2. Use Wall of Coins to anonymously find the bank closest to you
  3. Deposit the amount you want to buy into the seller’s bank account
  4. Text Wall of Coins saying the deposit is done
  5. Seller confirms transaction goes through
  6. Escrow service releases Bitcoin (5-15 mins after)

Wall of Coins has a $5 minimum on buys and sells, but this is likely not an issue for most. Wall of Coins charges “no fees” but instead earns money from the premium on the transaction.

Visit Wall of Coins

Bisq

Buy Bitcoin with Cash on Bisq

Bisq is another interesting peer to peer exchange that allows for the exchange of Bitcoin/other cryptocurrencies for fiat currency. What’s great about Bisq is that it’s a decentralized project with public source code.

As far as operating systems, Bisq is available on Mac, Windows, Debian, Ubuntu, Red Hat/Fedora, Linux, and more.

Some features of this exchange include:

  • Zero Identity Verification
  • Truly Decentralized
  • Extremely Safe and Private Transactions
  • Open Source and Simple to Use

In order to fund development, Bisq uses a DAO (decentralized autonomous organization). It’s an extremely interesting concept that aids in decentralizing the project.

Visit Bisq

Bitquick

Bitquick is another reliable option for purchasing crypto in the United States with cash. It functions similarly to many of the other services mentioned in this guide.

For fees, Bitquick charges 2% fees on transactions. While this seems high compared to some of the other services on this platform, keep in mind they are charging a premium, which is the same thing as taking a fee.

Depending on the amount of volume on the exchange at any given time, the premiums will vary.

Visit Bitquick

LibertyX

libertyx

LibertyX functions a bit differently than some of the other P2P resources we recommend in this guide. In order to get started, download their app. The app can be downloaded on both the iOS store and Google Play store.

The project has several locations around the world, where users can use ATMs, cashiers, or debit kiosks to purchase crypto privately. As far as limits, the services allow you to purchase anywhere from $1 to $3,000 per day.

LibertyX

Visit LibertyX

How can I avoid scams when buying Crypto with cash?

Due to the nature of cash transactions, there are some common scams you may see. When doing a transaction, use reliable services mentioned in this guide and take things slow and think clearly.

As long as you are paying attention, it’s very difficult to get scammed.

Why use cash to purchase Crypto?

The main reason people decide to use cash to purchase crypto is due to the privacy benefits the method offers. Most users even decide to pay a high premium (5%-10%).

What are the downsides to using cash to purchase Crypto?

The only real downsides of using cash to purchase crypto are the following:

  1. Higher Fees
  2. Risk of Scams
  3. Low Volume/Liquidity

Even with some of these issues, buying crypto with cash is still a common and popular option.

Why are some cash exchanges more expensive than others?

Depending on a variety of factors, some exchanges will have different fees. Almost every exchange in this guide will charge a base ~1% fee, plus any premiums that are on the price of crypto at the time.

Which exchanges allow me to sell the Crypto back?

Of the exchanges mentioned in the guide, LocalBitcoins, Wall of Coins, and Bitquick will all allow you to sell crypto back.

How to Buy Cryptocurrency Using Bank Account

You’re here because you want to purchase crypto with your bank account.

And that’s a great choice.

Buying crypto via a bank is the cheapest way to buy crypto , allowing you to get the most out of your money.

We know.

Buying crypto is an intimidating process for beginners, and that’s what we’re here for.

Coinbase is considered by many to be the most beginner-friendly brokerage. Their beginner onboarding process is extremely simple and walks you through the entire buying process. For their services, Coinbase charges a 1.49% fee on bank account purchases which is competitive with the rest of the exchanges we’ll mention in this guide.

Due to the nature of bank transactions, it’ll take a few days for funds to reach the exchange (Bitcoin fixes this). It’s important to know that when you use a bank account to purchase cryptocurrency on Coinbase or any exchange/brokerage for that matter, the price you buy or sell at is locked in, regardless of the funds have reached your account.

Watch our tutorial on how to sign up and buy cryptocurrency on Coinbase.

Visit Coinbase

eToro is an interesting option when it comes to cryptocurrency brokers. What sets eToro apart is their social trading and copy trading features, allowing you to view the most successful traders on the platform, and mimic their trades as part of your trading strategy.

eToro only supports deposits via bank account, so if you were planning to use a card that won’t be possible. For fees, eToro charges differently depending on the coin. Expect a .75% fee when trading Bitcoin. Other cryptocurrencies fees will vary.

Visit eToro

Bitpanda is an extremely reliable exchange that has several payment options and cryptocurrencies available. For bank transfers, Bitpanda allows SEPA, SOFORT and online bank transfers.

They recently updated their fees to be the lowest in the industry. Bitpanda charges users a 1.49% purchasing fees when a bank account is used, and 1.29% fee when selling to your bank account.

Bitpanda has also eliminated transaction fees to and from the exchange, making it simple to send any amount of cryptocurrency. They eliminate this fee by covering it themselves!

Bitpanda added support for other currencies than the Euro, such as the Swiss Franc, British Pound and US Dollar.

The main downside of Bitpanda is that it is limited in the countries that it can serve. It is only available to users in Europe, including Switzerland, Croatia, and Norway.

They have a wallet built into the exchange where you can keep your coins, but we do not recommend leaving cryptocurrency in an exchange wallet for a long period of time.

These new changes offer customers better usability and improved speed and making Bitpanda one of our highest recommended cryptocurrency exchanges.

Visit Bitpanda

Gemini is another US-based exchange that has pretty low transaction fees between .1%-.75%. This fee scales by trading volume, with the first discount at 10 BTC traded in the past 30 days.

The exchange can be somewhat difficult to use for a beginner but once gotten the hang of, is a great exchange.

Gemini serves all states except Hawaii but plans to support them soon. In addition to the above-mentioned states, they also support, Washington D.C., Canada, Hong Kong, Singapore, Puerto Rico, South Korea, and the U.K.

A convenient feature of the exchange is that you can instantly purchase cryptocurrency with any method, and will not be charged for a few days. This is great for buying dips or bottom.

Gemini is a pretty safe exchange and has no major hacks or security leaks. Funds on the exchange are FDIC insured, meaning in the event of an exchange hack your funds are insured up to an amount.

Gemini’s customer support gets some flak for being slow, and somewhat unhelpful, but in my experience, I have had no issues. Gemini is also owned by the Winklevoss twins who had very early involvement with Facebook.

Visit Gemini

 

Kraken is a great option too, they are based in the US and allows crypto to be purchased with ACH transfers. They have a somewhat difficult to use user interface so I would not recommend them to a beginner.

Kraken offers XBT (their version of Bitcoin) as well as the following fiat currencies: USD, EUR, CAD, and JPY.

The following deposit methods are used on the exchange:

  • SEPA Transfer
  • USD Bank Transfer Deposit
  • EUR Bank Wire Deposit
  • JPY Bank Deposit
  • Cryptocurrency Deposits

They have a great security system and are extremely trustworthy. As far as fees go, expect a .25% taker fee and a .1% maker fee when using a limit order. Depending on your account’s verification level, users can purchase different amounts of cryptocurrency monthly.

Visit Kraken

Coinbase Pro, once known as GDAX is an exchange owned by Coinbase, that allows its users to purchase crypto with near 0% fees.

This exchange is far more complicated than some of the other exchanges, so we don’t recommend this for new cryptocurrency buyers. If you feel up to the challenge of learning how to use Coinbase Pro, we highly recommend this method for buying crypto with your bank account.

Coinbase Pro allows ACH transfers, bank wires, and SEPA transfers for European countries. Coinbase Pro and Coinbase can instantly deposit and withdraw from each other.

Visit Coinbase

Swan is a Bitcoin-only savings company, making it easy for anyone to dollar cost average at their pace. Signing up is as easy as filling out answers to sentences asking the amount and frequency of Bitcoin you’d like to purchase. Linking a bank is extremely straightforward and secure.

At Swan, they know that keeping a balance on an exchange is never a great idea, so they also allow you to withdrawal balances automatically once you’ve reached a certain threshold.

Visit Swan

How to Buy Crypto on Coinbase using a Bank Account

If you decide to buy crypto on Coinbase, you will need to create an account. Click “Create Account” and then confirm your email.

Coinbase Sign Up

After confirming, you will be asked to confirm your phone number. Type in your phone number and Coinbase will text you a code. Enter the sent code to go the next step.

Next, you will need to verify your identity by entering several fields. Coinbase requires this due to the United States regulations.

Coinbase Signup Form

Don’t give up yet, we are almost ready to buy crypto !

Press the settings tab on the navigation bar and click “Link a new account”. On this page, you can select the payment method that you want to link.

In this tutorial, we will be buying crypto with our Bank account as it is the lowest fee option. As stated above, using a bank account will cause your crypto to be delivered in a few days.

This can be annoying, but on the bright side, the price you buy in at is locked after buying.
Choose Payment Method Bank Account

After linking your bank account you are ready to buy crypto !

Go to the navigation bar and click the Buy/Sell tab. From here, you can enter an amount of crypto that you want to buy, or the amount of $ that you want to buy. The opposing field will be filled in automatically.

Click the blue Buy Bitcoin button when you are ready!

Buying Bitcoin with Bank Account

You have successfully purchased crypto ! Wait a few days for the crypto to arrive in your account. After your crypto arrives, you may want to move it to a secure hardware wallet.

Learn how to and why you should store your crypto on a hardware wallet in our guide.

How do I get the best price of Crypto?

Buying crypto with a bank account is one of the most popular ways to buy crypto. You get the most out of your money by getting extremely low fees.

By buying crypto with your bank account, you are purchasing crypto with the lowest fees! The next way to reduce the cost of buying crypto is to use the exchange that has the lowest going rate for crypto .

The cost differences between crypto will usually be pretty small but is an option for those looking to get the most bang out of your buck.

Always check what the current price of Bitcoin is before making a purchase on an exchange. Occasionally there is a discrepancy between exchanges.

How do I buy Crypto instantly with my bank account?

Due to the outdated processing times involved with bank accounts, purchasing crypto instantly with your bank account is not exactly possible.

Expect to wait around three to five days for crypto or other purchased cryptocurrency to reach your account. If you are concerned with locking in your price, most exchanges do that upon checkout anyway.

Why should I use a bank account to buy Crypto?

Buying crypto via a bank transfer or bank wire is the lowest fee option when purchasing from an exchange.

Although you do not receive your funds instantly, the price you purchased at is saved. Unless you want to purchase crypto and quickly move it off the exchange, a bank account is the best method for purchasing crypto .

It also is the highest limit option, allowing users to purchase huge amounts of cryptocurrency on certain exchanges.

Are there disadvantages to buying Crypto with a bank account?

Besides the time it takes for crypto to arrive to your wallet, there is no real downside to using your bank account. For those concerned with privacy, a bank account purchase may not be your best option.

Can I sell Crypto back to my bank account?

Yep! After you decide to sell your crypto , you can keep the funds on the exchange, or send it back to your bank account! Certain exchanges charge a fee for this process, so keep an eye out for that.

What exchange should I use to purchase Crypto for the first time?

We recommend Coinbase, due to its low fees, good purchasing limits, and the extremely simple user interface. It’s CEO is Brian Armstrong, and is very well known in the cryptocurrency community.

 

How to Buy Cryptocurrency Using ACH

You’re here because you want to purchase crypto using ACH, a popular United States transfer system.

What’s interesting about ACH is that not all American exchanges use the system. For example, Kraken, a leading exchange around the world that supports the US, will return any funds sent to them using the method.

If you’re dead set on using this method, then let’s jump right into the top exchanges that allow deposits via ACH.

What is ACH?

ACH, also known as Automated Clearing House Network, is a popular payment system in the United States of America.

In 2019 ACH moved 24.7 billion electronic payments

 

How to Buy Cryptocurrency Using Skrill

Buying crypto with Skrill is a simple and convenient way to purchase crypto . In the past, you’d have to use cryptocurrency exchanges + Skrill to do so.

Now, this can all be done on Skrill!

The fees associated with this method are higher than using a bank account, so consider using one if possible.

Below, we’ll compare and contrast your options for purchasing crypto with Skrill.

ExchangeFees/PremiumSupported Countries
Bitpanda5%Wherever Skrill is Accepted
LocalBitcoins8.5%Wherever Skrill is Accepted

Skrill

Buy Bitcoin With Skrill

Skrill features over 100 payment methods that allow you to bring funds onto the platform. Once your account is funded, you’re free to purchase crypto and other cryptocurrencies with Skrill.

Like all exchanges, we highly discourage the storage of cryptocurrency on exchanges for extended periods of time. Learn more about hardware wallets to understand why.

skrill fees

For fees, Skrill will charge no deposit fees but various fees depending on the nature of Bitcoin transactions. If you transact with another user on their exchange, then expect to pay .5% fees which are fairly low. By interacting directly with Skrill, you’ll pay 3x-6x more fees.

Bitpanda

Bitpanda Exchange Review

Bitpanda will most likely be your best choice for purchasing crypto with Skrill. While it’s somewhat unclear what fees Bitpanda charges on Skrill transactions, expect around 5%.

The reason why it’s hard to judge the fees is that that price typically has a premium, rather than a percentage fee.

Regardless, Bitpanda is easily the simplest and best way for you to buy crypto using Skrill.

Visit Bitpanda

LocalBitcoins

buy bitcoin with skrillJust like buying Bitcoin with Paypal, Skrill sellers on LocalBitcoins will often charge some pretty large premiums due to the risk involved. With that being said, buying Bitcoin with Skrill on LocalBitcoins is certainly doable…

At press time, the price of Bitcoin is $3,720. The best offer on LocalBitcoins is currently $4026 which is equivalent to an 8.5% premium/fee. Please also note the incredibly low purchasing limits available. We’re not saying it’s impossible, just not recommended.

Visit LocalBitcoins

What is Skrill?

Skrill is best described as Europe’s Paypal and is a popular online payment system that is currently used by over 35 million people! It’s simple to integrate into your website or business allowing over 200 countries and 40 currencies to transact.

The service features near-instant payments with a fee of 1% or .50 Euros, whatever is cheaper. This makes it convenient and usable for small and large transactions.

Why is Buying Crypto With Skrill Not Supported Everywhere?

Similar to buying crypto with Paypal, the issue is that Skrill and Paypal transactions are reversible while Bitcoin is irreversible. These do not mix well and can cause issues for merchants.

How to Buy Crypto with Skrill on Bitpanda

First, you must create an account on Bitpanda. Once logged in, click the deposit option near the navigation bar.

After depositing with Skrill, you’ll want to select the cryptocurrency you want to purchase.

If you’re reading this, you’ll most likely want crypto, but Bitpanda has several altcoins available.

Select the coin you want, and purchase it using your Bitpanda balance! This is pretty much the same as all other methods once you have deposited the funds onto Bitpanda.

 

 

Frequently Asked Questions

How do I get the best price of Crypto?

There are two factors that affect the amount of crypto you receive. These are the exchange fees, and the going price of the coin you are interested in buying.

For example, if Coinmama is selling crypto for $8,000 a coin while Coinbase is selling crypto for $7,950, it may make more sense to use the cheaper exchange Coinbase.

Small differences in exchanges pricing is a common thing in cryptocurrency, so keep an eye out when making your purchases.

The crypto halving also has greatly affects the price, so be sure to follow a Bitcoin halving countdown to keep track of when it’s going to happen.

Can I Buy Less Than One crypto ?

Absolutely yes! With the price of Bitcoin being in the thousands, many potential investors have started to become intimidated by its high price.

Did you know Bitcoin is divisible to the eighth decimal place? (sometimes even more). This small denomination is known as the “Satoshi” after the initial creator of Bitcoin.

Several cryptocurrency exchanges allow for the purchasing of Bitcoin and other cryptocurrencies.

The most popular cryptocurrency exchange, Coinbase, allows users to purchase as little as $2 at a time! This is not recommended, due to Coinbase’s minimum purchase fee, but can certainly be done!

Jordan Tuwiner Administrator
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