Bitcoin is a global phenomenon and has become a globally used investment object for many small investors. Moreover, the adoption of blockchain is increasing in many countries around the world. But what should you consider if you want to buy Bitcoin in Germany? Is it worth buying and what you should consider when buying bitcoin in Germany?
In this article, we will talk about how to buy bitcoin in Germany, what factors to consider when buying, and whether Germany is a friendly country for cryptocurrencies and their owners.
What is bitcoin?
Bitcoin is the world’s first cryptocurrency. At the same time, 13 years after its founding, Bitcoin is still by far the most popular and popular decentralized currency in the world. Bitcoin was developed with the aim of creating a decentralized currency that cannot be controlled by a central authority.
The basis of Bitcoin is blockchain technology. Blockchain guarantees peer-to-peer transaction traffic between two agreeing parties without any other intermediary. Transactions are completely decentralized on the blockchain. Every transaction that is executed is recorded on the blockchain. Technology makes centralized monitoring and fraud in payment transactions nearly impossible.
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Where can I buy Bitcoin in Germany?
Bitcoin can be exchanged in Germany as well as in all other countries of the world for the so-called FIAT currencies, and here in particular the euro. This is mostly done online either through specialized trading platforms Cryptocurrency exchange or about the classics online broker.
It does not matter whether the platform is in Germany or a foreign platform. All cryptocurrency trading platforms and brokers offer their services in different countries around the world.
Below we would like to introduce you to some platforms:
Bitfinex is a specialized crypto exchange where you have more than 100 cryptocurrencies to choose from in addition to Bitcoin. The Bitfinex exchange is a favorite of regular traders because it is extremely rich in trading features.
Click here to buy Bitcoin at BITFINEX!
The Binance platform has only been around since 2017, but it is by far the largest crypto exchange in the world. It offers more than 100 cryptocurrencies and is considered safe and reliable.
CLICK HERE TO BUY BITCOIN IN BINANCE!
Coinbase is a San Francisco-based crypto exchange that was founded in 2012. It also offers a wide range of currencies and is well suited for beginners.
CLICK HERE TO BUY BITCOIN AT COINBASE!
Kraken was created one year before Coinbase and is also based in San Francisco. It provides an easy-to-use interface to buy Bitcoin and other cryptocurrencies in Germany.
Click here to buy Bitcoin in Kraken!
Etoro is an online broker that is perhaps the most famous social trading platform. Like other brokers, eToro has added bitcoin and other cryptocurrencies to its portfolio over time.
CLICK HERE TO BUY BITCOIN FROM ETORO!
If you are looking for a platform from the German-speaking region, Bitpanda is the right place for you. Based in Austria, the company offers a safe and reliable place to buy Bitcoin.
Can I also buy Bitcoin in Germany with cash?
Yes, you can also buy Bitcoin in Germany with cash outside of exchanges and brokers. With it you will get Bitcoin ATMs (Bitcoin Automated Teller Machines). Unfortunately, these are still relatively rare in Germany. If you want to know where to find it and how to use it to buy bitcoin in Germany, check out our article!
Another option is to share with a good friend or someone you trust. You can give him cash and he will transfer the bitcoins to your bitcoin address in return.
Before that, you need your own wallet. Check out our article on Bitcoin wallets!
What should you consider when buying Bitcoin in Germany?
You should consider the following things if you want to buy Bitcoin in Germany:
- Cryptocurrencies like Bitcoin risk investments. It is characterized by high price fluctuations. Invest only what you want to lose.
- With a cryptocurrency exchange, you have to do it Identity Verification. These are the requirements that these providers comply with by law and also serve to protect you and the platform.
- As already mentioned, you need one wallet. Cryptocurrency exchanges store purchased bitcoins in online wallets. However, other options are recommended.
- In Germany, you have to access earnings from cryptocurrency Guidance Pay. So if you want to buy Bitcoin in Germany, you have to deal with this topic. Take a look at our tax guide on cryptocurrencies!
Is Germany a bitcoin friendly country?
Germany is not one of the worst countries in the world when it comes to bitcoin. Bitcoin is already banned in many countries. In this article you will learn about the countries where bitcoins are banned.
However, Germany is also far behind in many areas when it comes to Bitcoin, cryptocurrency, and blockchain. The number of Bitcoin ATMs and the number of stores where you can pay with Bitcoin is very small compared to many other countries in Asia, Europe, North America and even South America.
Taxation of cryptocurrencies is still relatively cheap in Germany, and regulations have so far been limited in the EU region. However, this may develop negatively in the coming years. A bill banning Proof of Work and therefore Bitcoin is already available in the European Union Parliament.
Is it worth buying Bitcoin in Germany in the future?
At the moment, it is still relatively easy to buy Bitcoin and other cryptocurrencies in Germany. Investors use bitcoin to build up reserves with an investment, to earn extra money or to secure their assets. Many take this opportunity for granted.
However, we should note that it is also universal The most stringent regulations and prohibitions ever When it comes to bitcoin. Moreover, the EU region does not appear to be a positive place regarding Bitcoin going forward.
This is exactly why investing can be beneficial right now, before tougher decisions or even blocking decisions are made. Bitcoin is an asset that is very likely to continue to increase in value in the long run and you should consider buying Bitcoin in Germany now.
You can also trade Bitcoin and other cryptocurrencies on cryptocurrency exchanges Bitfinex And the Binance As well as on Coinbase and Kraken.
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