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Austin Jacob • May 20th, 2020

Buy Bitcoin in Switzerland

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Forget everything you heard before.

Purchasing Bitcoin in Switzerland is not difficult to do.

A widely trust and popular option for purchasing Bitcoin in the country is Coinbase.

Want to learn about 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.

Luno is one of the most popular Bitcoin and cryptocurrency exchanges, and for good reason. It allows for the buying and selling of Bitcoin and Ethereum against several fiat currencies including MYR (Malaysian Ringgit).

Luno's fees are extremely low compared to the competition, with a 0%-1% trading fee that scales based on trading volume.

The more you trade on Luno, the lower the fees. Out of all the exchanges that allow users to buy Bitcoin in Malaysia, Luno's are the cheapest.

Luno also has the highest limits available, when full account verification is achieved. After full verification, users are able to purchase 300,000 MYR worth of Bitcoin.

Overall, Luno is a reliable option for anyone trying to purchase cryptocurrency. Their user interface isn't as intuitive as some of the other options, but once you learn how to use it, it might just be the best option on this list.

Visit Luno Read Review
 

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 in Switzerland

Back in August of 2019, Switzerland approved a Bitcoin Bank, albeit with strict regulations. Still, Switzerland’s move was a step in the right direction for Bitcoin, 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.

Despite Switzerland’s strict AML regulations on the Bitcoin banks and cryptocurrency in general, it’s still great to see Switzerland is open to innovating the future of its financial system, whereas most countries are stuck in the past.

The move isn’t a huge surprise though, as Switzerland’s banking industry has historically protected wealth. One of the crypto banks, SEBA Bank AG, provides its users with a crypto-to-fiat debit card. The card can be used at traditional stores in Switzerland that otherwise wouldn’t accept Bitcoin but draws from a cryptocurrency balance to facilitate the payments.

However, there is a caveat to Bitcoin banking:

The whole point of cryptocurrency is the decentralization of power. Allowing banks to hold your crypto for you seems counterintuitive. Centralized banks are also vulnerable to hacking and theft. Safeguarding your tokens on a form of cold storage like a hardware wallet is the only way to protect them from theft.

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