How to Buy Bitcoin in Europe for Beginners 2018
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I have been using Bitpanda to purchase Bitcoin and other cryptocurrencies in Switzerland for the last two years. Bitpanda, formerly known as Coinimal, is a trustworthy and reliable company when it comes to purchasing and selling Bitcoin. I have never had any problems even when sending larger sums of money either by credit card or instant transfer (sofort überweisung). This is one of the fastest ways to purchase Bitcoin at the current market price.
Signup on Bitpanda
Add your user information
Make sure you use a passwort that is secure and that you can remember.
Important: Under the Security tab enable Two Factor Authentication.
Enabling Two Factor Authentication will make it much harder for someone that knows your password to access your account. This makes sense if you are keeping large amounts of cryptocurrency on your Bitpanda account. However, keeping large amounts on an exchange is never recommended.
To get the Gold verification level you need a laptop with a webcam and a Passport or Identification
Start the verification Process with IDnow.
When the ID verification process is completed you will have all verification levels.
Click on Buy Bitcoin
- This is the current purchasing price. This price is slightly higher than the current trading price since it includes fees.
- This is the amount you would like to spend
- The amount of Bitcoin you will receive.
An important thing to note: You will need to account for transaction fees when sending bitcoin from your Bitpanda wallet to your web wallet, desktop wallet or nano ledger s
Click on Next
Select your Payment method
Supported Payment Methods
Until now I have only used the payment methods Sofort-Transfer and Visa/MasterCard to buy Bitcoin. These two methods have been fast and reliable for me and friends that have used Bitpanda.
Click Next again and finalize your Bitcoin purchase
This is the final step. You have 60 seconds to purchase Bitcoin at this price. If you are happy with the price and are aware of the risks in cryptocurrency investments, then click “Order with obligation to pay.”
Continue with your selected payment method.
As soon as you finished your payment you can find your Bitcoin in your Bitpanda wallet. The processing time can take a few minutes.
- You can leave small amounts on your Bitpanda wallet.
- Withdraw your Bitcoin
Larger amounts should be stored safely on a cold wallet or ledger nano S
If you have any Feedback or improvement suggestions it is highly appreciated.
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