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Bitstamp Bitstamp is one of the world's largest and most well-known Bitcoin & crypto exchanges. Deposits can be made through bank transfer, SEPA transfer, international bank wire, and now even credit cards.
Bity Bity is a Bitcoin exchange and ATM operator, based in Switzerland. Their 5 ATMs allow for a quick first purchase and only require phone verification for an initial buy limit of 1,000 EUR or CHF. Their online service accepts wire transfers, SOFORT and online bank transfers.
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Europe is a mega-hub for Bitcoin and crypto trading. As Europe boasts some of the wealthiest and most technologically advanced democracies on Earth(1), its no wonder that so many countries are going wild for Bitcoin.
Among the most confident in Bitcoin are countries like Poland, Italy, Netherlands, and Spain.
Bitflyer, a crypto exchange based in Luxembourg, released its updated Cryptocurrency Confidence Index, which is a yearly survey of citizens across all of Europe to determine their appetite and confidence in Bitcoin and crypto more broadly.(2)
It is pleasing to see these results that indicate a slow but steady progression of cryptocurrencies into the mainstream consciousness. Although we might look at this as an achievement for digital currencies in spite of the challenging economic times we are facing, it is also worth considering that this may well be partly because of these times.
It is interesting to see that countries like Italy which have been hit hard by the COVID-19 crisis are expressing more faith than ever in cryptocurrencies.
Andy Bryant COO, Bitflyer crypto exchangeOne of the easiest ways to buy Bitcoin in Europe is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Europe, allowing you to select one based on your requirements and preferences using our guide outlined above.
Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.
Another way to buy Bitcoins in Europe is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them don’t require any verification either, thereby ensuring the buyer’s anonymity.
You can locate Bitcoin ATMs in Europe using our Bitcoin ATM Map. As of November 2022, there are almost 1500 ATMs in Europe operated by over 160 operators.
No matter which method you choose, just be sure to follow our guides and do your own research. Bitcoin is an amazing technology but there are a lot of pitfalls out there. Stay safe!
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A 2021 report by Chainalysis showed that Eastern Europe and Western Europe were in the top 5 regions with the highest rate of transaction addresses to scam sites including TheFiniko(dot)com. The Finiko ponzi scheme, based in Russia, offered high-yield returns on bitcoin holdings. Eventually, individuals were unable to access their accounts. A total of 750 BTC was thought to have been withdrawn from one of the wallets used by Finiko. Chainalysis reports over $1.5 billion in bitcoin from investors was deposited in the scam from December 2019 to August 2021.
During the worldwide pandemic, scammers in Europe were taking advantage of the crisis by impersonating Red Cross workers and offering to sell medical supplies to groups in need. What they were really doing was gathering personal information and/or soliciting donations paid in crypto that never made it to the Red Cross.
She made wild promises about how successful it would be. That it would be a 'Bitcoin Killer'.
However, several investors and outside skeptics eventually pieces together that there was actually no blockchain. It was merely a SQL database being centrally hosted. And worst of all, there was no way to convert OneCoin coins into US dollar or any other currency for that matter.
Eventually, under increased scrutiny and pressure to create an exchange that allowed investors to dump their OneCoins, Ignatova ran away with the Bitcoin and no one knows for sure where she went to this day.
OneCoin represents the largest cryptocurrency scam in the history of industry and perhaps the history of the world.
As reported by Bloomberg, in February of 2018, Interpol made mass arrests on a group of scammers spread out across Denmark, Germany, and Latvia. These scammers defrauded hundreds of victims in Austria, Poland, Germany, and several other Eastern European companies. The scam firm, known as 'Optioment' claimed to deliver its customers with returns of 4% a week through arbitrage trading of cryptocurrencies.(3)
Instead, the whole operation was likely a pyramid and ponzi-scheme that eventually resulted in an exit scam
For an in-depth coverage of this story, check out this fantastic BBC article on OneCoin.(4)
From 2018 to 2020, a cybercriminal group known as CryptoCore attacked several high profile crypto exchanges in the US, Asia, and the Middle East. According to Research from ClearSky, CryptoCore managed to steal around $200 million US dollars worth of cryptocurrency by phishing the corporate credentials of employees of target exchanges.
In August of 2020, Spanish cryptocurrency exchange 2gether's CEO Ramon Ferraz Estrada announced via Twitter that the exchange had been hacked for $1.4 million worth of cryptocurrency.
The executives of the company then claimed they did not have the money to pay users back and that customers were simply out of luck.
“In the two days following the attack, we’ve been working on finding the funds needed to cover all positions....and until a few minutes ago, we’ve been working with an investment group with which we sadly haven’t been able to reach an agreement,”
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Coinbase works in some European countries. See the list below for the most up to date support for Europe.
European countries vary when it comes to prevalence of Bitcoin ATMs. The best thing to do is to check our pages for each country for more detailed information on each specific country.
You can use our Bitcoin ATM finder tool to find the one nearest you.
Bitcoin prices are changing every second.
The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.
Sending Bitcoin to someone in Europe is the same as it is for anyone outside of Europe.
Both you and the person you want to send Bitcoin to should get a wallet.
Once the recipient has a wallet, they will give you a sending address.
You will create a Bitcoin transaction in your wallet (which you already have some Bitcoin in), and you will input their address as your destination.
This video shows you in more detail what this process might look like since almost all wallets look and act more or less the same.
In July, a Swiss based financial products company named 21Shares announced that its Bitcoin ETF had been accepted to be listed on Xetra, Deutsche Boerse’s electronic trading venue.
The listing on Xetra not only strengthens our current position in Germany but also opens up institutional-grade crypto products to the wider European and international markets
Laurent Kssis managing director, 21SharesThere is another ETF offered by London-based investment firm ETC Group.
Any exchange with a Euro trading pair will allow you to sell your Bitcoin for fiat currency. Bitpanda and Coinmama has EUR trading pairs for many popular coins.
BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.
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