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It's easy to buy bitcoin in Switzerland. There are dozens of apps and exchanges that make the process easy, whether you want to buy online or in-person.
eToro is a trading platform and crypto exchange with support for Swiss customers. It supports Bitcoin, Ethereum, Litecoin, and many other coins.
Deposits can be made quickly via:
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.Visit eToro's Website
Coinbase is one of the largest Bitcoin (BTC) and cryptocurrency brokers in the world. They represent an easy and fast way for new users to purchase crypto, with special support for Swiss customers.
Customers in Switzerland can purchase bitcoins with:
Bitstamp, founded in 2011, is based in the UK but offers support for customers in Switzerland. We researched and found that in 2019, Bitstamp formed a special partnership with Dukascopy. This allows Swiss customers fast transfers.
Coinmama allows customers in Switzerland to buy bitcoins, litecoins, ethereum and many other coins with a credit or debit card, SEPA, bank transfer, or SOFORT.
They charge a 4.9%-5.9% (depends on volume) fee on credit card purchases.
Customers in Switzerland can also purchase cryptocurrency with SEPA or SOFORT for a lower fee. Visit Coinmama's Website
Founded in 2013, I've observed Bitcoin Suisse's decade-long excellence as Switzerland's premier Bitcoin exchange. We appreciate their secure cold storage, Bitcoin Suisse Vault, and the safeguarding guarantee from a Swiss Bank. Their staking service and loan solutions leverage crypto assets efficiently.
Coinbase's exchange, Coinbase Advanced Trader (formerly called Coinbase Pro), is one of the largest Bitcoin exchanges in the United States. Users can fund their accounts via bank transfer, SEPA, or bank wire. Coinbase Advanced Trader offers good prices and low fees, but its confusing user interface may initially prove difficult to navigate.
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.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%. View Bitcoin ATMs
Buying Bitcoin in Switzerland is pretty easy thanks to the government's crypto friendly attitude (more on that below).
In November 2022, a change by the Swiss financial regulator will introduce new requirements for crypto transactions. Specifically:
The Financial Market Supervisory Authority (Finma) provided reasoning in a recent report:
However, this change raised concerns among citizens and crypto companies because:
Before diving into the world of Bitcoin, there are crucial security measures to consider:
Once you're set with security:
Switzerland's banking industry is known to safeguard wealth, which is why Bitcoin is a natural fit for the country.
Founded recently with a universal banking license, SEBA Bank AG has a plethora of services, from fiat currency storage to crypto custody (they manage your cryptocurrency).
The Swiss startup boasts an impressive range of features:
SEBA Bank AG: This institution exemplifies Switzerland's long-standing tradition of wealth protection, now extending its expertise into the crypto domain.
For those looking to buy Bitcoin in Switzerland:
In July of 2018, the "decentralized" exchange Bancor, based out of Israel and Switzerland, announced that hackers had stolen ~$23.5M in crypto assets.
This hack occurred when "a wallet used to upgrade some smart contracts was compromised", according to Bancor's spokesperson.
Bancor raised over $150M during its Initial Coin Offering the previous year.
The lesson to learn from the Bancor hack is that just because someone claims their exchange is decentralized does not mean that the wallets can't be hacked or that the software does not have critical bugs that leave customers vulnerable.
Charlie Lee, Litecoin founder, put it best:
A Bancor wallet got hacked and that wallet has the ability to steal coins out of their own smart contracts. 🤦♂️— Charlie Lee [LTC⚡] (@SatoshiLite) >July 10, 2018
An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization. https://t.co/22UYygIhEF
The Swiss Financial Market Supervisory Authority (Finma) has blocked $2M worth of funds sent to Quid Pro Quo Association for issuing E-Coins. Quid Pro Quo claimed that E-Coin was a cryptocurrency, yet it was discovered that there was no Blockchain, and the coins simply existed on a database held on Quid Pro Quo's servers.
According to the statement from Finma,
These three legal entities accepted funds amounting to at least four million Swiss francs from several hundred users.
The scheme also promised to back the coins with physical assets, which it had failed to do. There were also apparently two other scam currencies, but these currencies were not named in the warning from Finma.
The cost of purchasing expensive hardware aside, mining takes time and energy (literally) which gets expensive.
Especially considering the price of electricity in Switzerland, buying Bitcoin from one of the exchanges listed above is your best bet.
Swiss citizens pay roughly 0.20 Franks per kWh, nearly double the cost of electricity in the United States, where mining is also not profitable.
Citizens of Switzerland can convert, buy, and sell cryptocurrencies with fiat. Supported payment methods are:
Switzerland is among the countries with the most Bitcoin ATMs per capita. At 103 ATMs across the country, you are never too far from a Bitcoin ATM, so if you want to stack some sats for cash, Switzerland is a great place to do it.
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.
Switzerland currently consumes about 63 TWh of electricity every year while emitting around 35 Mt of CO2 each year.
According to the International Energy Agency, a non-profit that works with governments and corporations to secure sustainable energy policies internationally claims that Switzerland consumes about 63 TWh of electricity each year. It also emits about 35. Mt of CO2 each year.
By contrast, according to Digiconomist, Bitcoin consumes about 70 TWh of electricity and emits ~33 Mt of CO2 each year.
That means that Bitcoin actually consumes more electricity that Switzerland consumes while emitting less CO2.
There are currently no Bitcoin ETFs in Switzerland.
Crypto Valley is a city in Switzerland that was founded on the idea that companies, large and small, could move their headquarters to a place that is friendly to crypto startups. The city raised hundreds of millions of dollars to get the ball rolling, and indeed many startups did move there. However, in April of 2020, Swiss Blockchain Federation found that 80% of the 203 firms surveyed said bankruptcy was imminent and that only half of the 50 biggest companies in Crypto Valley would last another year.
In response to this, Crypto Valley management is turning to the Federal Government and asking for a 100 million Swiss Franc bailout to keep the project going. So much for decentralization!
Yes, you can currently buy homes and other property types with Bitcoin via Bithome.ch.
Zurich-based SEBA Bank AG offers a suite of services for crypto enthusiasts, such as crypto custody and crypto-connected debit cards.
Falcon Group also offers these services as well as Bitcoin savings and brokerage services.
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