By
Austin Tuwiner • April 28th, 2020

Buy Bitcoin in Portugal

We know why you’re here.

You’re from Portugal, and want to purchase some Bitcoin.

But between all the different exchanges, you don’t really know where to start…

That’s where we come in.

For most of you, Coinbase is going to be the best exchange due to its simple interface and low trading fees.

Want to learn about other options?

Well… keep reading!

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.

Want to see a step by step picture annotated guide on how to purchase Bitcoin on Coinbase? We've got you covered.

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. 

Click here to see a step by step guide on how to purchase Bitcoin on Coinmama.

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 Legislation in Portugal

Portugal has adopted Bitcoin-friendly legislation. In fact, many refer to Portugal as a “Bitcoin tax haven” thanks to the country’s zero tax policy on Bitcoin. That policy includes both trading Bitcoin and mining Bitcoin.

Crypto exchanges are exempt from VAT, and trading gains aren’t taxed either. It’s pretty awesome for Bitcoin enthusiasts who want to invest large sums of money, without losing a decent chunk to the government.

Portugal has many popular exchanges available to it, not to mention nine Bitcoin ATMs around the country which can be used to withdraw Bitcoin without revealing your identity.

Bitcoin Mining in Portugal

Although Portugal is easy on Bitcoin taxes, including mining profits, mining Bitcoin in Portugal is definitely not a good idea.

Electricity is the leading factor used to determine mining profitability, which is why choosing a country with low electricity costs is imperative.

Unfortunately, Portugal doesn’t fit the bill. Their electricity costs are more than double that of the United States, making a profitable mining operation all but realistic.

Instead, buying Bitcoin directly from one of the exchanges above is the best, easiest, and fastest route to acquiring Bitcoin.

Austin Tuwiner
Austin Tuwiner Administrator
Austin is the owner of Bitpremier, and got involved in Bitcoin in 2012. After working as a cryptocurrency journalist and and at several blockchain startups, he decided to start Bitpremier and educate the world on Bitcoin.
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