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Austin Jacob • May 7th, 2020

Buy Bitcoin in Italy

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We know why you’re here.

You’re from Italy and you want to purchase some Bitcoin.

That’s where we come in.

For the Italians out there, Coinbase is going to be your best bet due it’s low fees, simple user interface, and variety of payment methods.

Want to learn your other options?

Keep reading!

Comparison

coinmama
Fees Established Countries
5.9% 2013 Nearly All
bitpanda
Fees Established Countries
~4% 2014 Europe
Coinbase Home

Based out of San Francisco, California, Coinbase is considered by many to be the most reputable beginner-friendly exchange. Since 2012, they’ve made it simple for any crypto newbie to buy and sell Bitcoin through their gorgeous user interface. Just make an account, link your preferred payment method, and start purchasing.

Please note that if you are based in the United States, most credit card purchases are disabled. For AML reasons, Coinbase, like most exchanges, requires users to submit a picture of their ID and other information for verification purposes.

When it comes to fees, this will depend on the payment method used. Bank purchases charge 1.49% and on credit and debit purchases expect 3.99%. Purchase limits depend on your accounts verification level, with the highest tier of verification allowing $50,000 to be purchased daily.

Visit Coinbase Read Review

 

Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases. They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 46 US States, and most countries.

Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to. As long as you have your own wallet, this shouldn’t be an issue!

Coinmama charges a fee of around 5% for credit and debit purchases with instant delivery and high purchasing limits of a max of $5,000 daily, and $20,000 monthly. 

Visit Coinmama Read Review

 

Bitpanda, called by some the Coinbase of Europe, is a popular brokerage that sells. Bitcoin, Ethereum, Ripple, and more for US Dollars, Euros, British Pounds, and Swiss Francs.

Just like Coinbase, Bitpanda has a very simple user interface, making it easy for beginners to successfully purchase in cryptocurrency.

The exchange has several payment methods such as bank transfers, credit cards, debit cards, Skrill, Neteller and more. Depending on which method is used, there may be differing deposit fees.

Fees and Limits

When it comes time to transact on the exchange, Bitpanda charges 1.49% for buys, and 1.29% on sells making them an extremely competitive option.

Headquartered in London, UK, CEX.io offers security, high liquidity, and cross-platform trading. They support an extremely wide array of countries making them available to most people.

CEX.io appears to have little no fees at first glance. They are able to do this by charging a premium on the Bitcoin price. We estimate this comes in around a 7% premium on average.

When it comes to purchasing limits, it really depends on your accounts verification tier. The first level has daily deposits of $500 and $100 withdrawals while the highest tier has unlimited in each category. Payment methods include cards, bank transfers, and more.

Visit CEX.io Read Review

 

Bitcoin Regulation in Italy

Italy doesn’t have any regulation specific to Bitcoin and has been vague on their Bitcoin regulation thus far. In summary, all cryptocurrency profits are taxable in Italy, but not every transaction itself is taxable.

In recent news, Italy’s Banco Sella is opening Bitcoin trading to more than 1.2 million people during the COVID-19 lockdown, according to Cointelegraph.  During this time of economic uncertainty with fiat currencies, Bitcoin has become all the more appealing. Banco Sella’s decision to act as an intermediary platform for crypto transactions during the crisis will help the 1.2 million Italians already using the bank’s Hype platform.

Italy also has a lot of Bitcoin ATMs – 59, to be exact – mostly in the north of the country. If you’d rather keep your identity private, Bitcoin ATMs are a great way to acquire Bitcoin.

Bitcoin Mining 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.

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