Buying Bitcoin (BTC) has recently become the most frequent phenomenon in the crypto market since Bitcoin is the most expensive cryptocurrency. The crypto industry is gaining incredible development; many customers buy Bitcoins and create crypto exchanges. Today, the crypto market is full of different activities: mining, trading, creating crypto startups, and trading services. If you haven’t heard about Bitcoin and other cryptocurrencies, it’s time to read about it!
This article is about Bitcoins, crypto exchanges, and ways to buy cryptocurrencies. You will understand what SEPA bank transfers are and how to use them. Read this review carefully to understand the crypto sphere better and choose the best payment method for buying Bitcoins!
Detailed Overview About SEPA Bank Transfer
Before you buy cryptocurrency (buy Bitcoins), you need to understand the payment methods. Today, one of the fastest and cheapest ways to pay for buying Bitcoin is SEPA bank transfer (Single Euro Payments Area). SEPA bank transfer allows transferring euros (fiat currency) between the bank accounts of EU residents. These people are from EU countries.
Indeed, SEPA bank transfers are intended for residents of countries within the European Union. Many customers note that SEPA bank transfer is very convenient to use. To buy crypto, you need to choose a trading platform that accepts SEPA deposits, create a SEPA bank account and start trading!
How To Buy Cryptocurrency Using SEPA Transfers
SEPA transfers are a convenient and great way to buy Bitcoin and other cryptocurrencies in Europe. Why should you use SEPA bank transfer when buying cryptocurrency in EU countries? The answer is simple: when paying, crypto exchanges will charge low fees, or you will have no fees at all. If you are in the European Union area, SEPA transfers will give you more benefits when trading cryptos.
Moreover, the trading platform that accepts SEPA transfers provides a higher purchase limit. These purchases are not associated with a refund. Thus, SEPA transfer is a profitable way to buy Bitcoins in Europe!
Below is a step-by-step guide on how to buy Bitcoin with SEPA:
- Go to the Coinmama website
- Register by creating an account and going through the verification process
- Choose a cryptocurrency and specify the amount to purchase
- Enter your Bitcoin wallet address
- Select “Bank Transfer” as the payment method
- Add money to your Coinmama bank account
- After confirming the transaction, your money will be sent to a crypto wallet
After completing all the steps according to this step-by-step guide, you can buy Bitcoin on favorable terms. There’s nothing complicated about it! If you can’t buy crypto or sell BTC through Coinmama, use the services of other crypto exchanges. Below are the trading sites that allow new users to buy Bitcoin with SEPA:
- Coinbase Pro
These crypto sites allow buyers to buy digital assets and sell BTC at lower fees. However, these trading platforms differ in many aspects. Therefore, carefully study each trading platform to use SEPA transfer and other services.
Benefits Of SEPA Payment Method
Probably, you are wondering why you should use a SEPA bank transfer to buy or sell Bitcoins. Undoubtedly, there are many different ways to buy cryptocurrencies. However, SEPA bank transfers are the most profitable if you are a resident of Europe.
As a rule, trading exchanges, to protect themselves, charge high fees for credit and debit cards. Unfortunately, for all people, such charges are expensive. Nevertheless, if you create a SEPA bank account and use a SEPA transfer, you will pay low fees. Also, SEPA transfer allows exchanges not to worry about money refunds. Such a payment tool is convenient for each party to the transaction. Some trading services do not charge fees, and it is also a good offer. It follows that SEPA bank transfer is an excellent alternative to other Bitcoin payment methods.
Any fee when trading cryptocurrencies is an additional waste of funds, and therefore new users tend to avoid fees. If you want to buy Bitcoin, it is better to use crypto exchanges with SEPA services.
- For instance, if you buy crypto (Bitcoins) in the amount of 1000 euros from CEX.io using a credit card, the fee will be 8 percent of the purchase amount. If you use SEPA transfer, the exchange will not charge you a fee at all! Thus, when buying Bitcoin, you will receive the amount of 1000 euros.
On the other hand, the SEPA payment tool also has disadvantages. Each transfer has to be cleared by all banks on its way to the exchange. For this reason, the transfer time increases. Buyers have to wait for a long time until the purchases of cryptocurrencies are completed.
More Details About Fees
Many customers note that most crypto exchanges charge three different types of fees:
- Deposit Fees
- Trading Fees
- Withdrawal fees
This article provides information specifically about deposit fees. Using a SEPA bank account gives more advantages to customers for deposit fees. By the way, although the exchange may not charge a deposit fee, it may charge funds per transaction. Keep this point in mind when making a transaction.
Why Do Customers Buy Bitcoin?
Most people buy Bitcoin because BTC is the most expensive cryptocurrency. Bitcoin is a decentralized peer-to-peer digital asset that allows people to make payments. These payments do not pass through a financial institution or bank.
Bitcoin is an expensive digital asset, and it is protected by cryptography and blockchain technology. The risk of hacking is minimized. The price of BTC coins is several times higher than the prices of other Altcoins. Nevertheless, the Bitcoin exchange rate has fallen significantly in recent months. It means that the crypto market is also volatile.
Buy Crypto Or Sell BTC With SEPA Bank Transfer
1) Coinmama exchange
Coinmama is the leading and most well-known crypto exchange.
The advantages of trading on Coinmama:
- Premium payment for services
- Unlimited Bitcoin purchases
- Fast service and support
- Instant payments and register
Coinmama deserves your attention because it is a respectable crypto company! Coinmama has a daily upper limit of around 10250 euros for purchases done via SEPA bank transfer. The exchange charges a fee of about 6 percent for processing each transaction. Perhaps the main disadvantage of Coinmama is the high fees. Therefore, it is necessary to trade on this platform wisely.
2) CEX.io exchange
This peer-to-peer exchange is popular among crypto owners. The company offers brokerage services, as well as cryptocurrency trading services. Unfortunately, the fees for brokerage services are high; it is not profitable for many users.
Users highlight the following advantages of this peer-to-peer platform: no deposit files, an excellent selection of crypto assets. Also, people appreciate the company’s long experience in the crypto market. Besides, to trade Bitcoins, you only need to register by creating a SEPA bank account and adding funds. Anyone can trade bitcoins here.
3) Coinbase platform
Coinbase is the most famous crypto platform founded in 2012. This company is reputable in the crypto community because it has a high trade turnover. The company offers brokerage services, various payment methods, and other bonuses.
In comparison with other exchanges, Coinbase offers users low fees and high limits on bitcoin purchases. The platform’s services are available in all EU countries. If you use SEPA bank transfer, there will be no deposit fees; withdrawal fees will amount to 0,15 euros. To use all the services of Coinbase, register on the website, create a bank account, and link a crypto wallet address. Access to the platform is open to every user.
As for the disadvantages, Coinbase has a slow support service and payment completion time. Therefore, be patient if you trade on the Coinbase platform.
4) Coinbase Pro exchange
Let’s look at the Coinbase Pro trading platform. This exchange allows you to trade Bitcoins and buy various Altcoins. It is worth noting that Coinbase Pro is designed for crypto professionals and more advanced users.
If you use a SEPA bank account and bank transfer, the deposit and withdrawal fee will be 0,15 euros. Besides, you can quickly add funds to your digital wallet and pay for digital assets. Any user from EU countries can use a credit and debit card to make a payment.
5) Bitpanda site
Bitpanda was founded in 2014, and it is the largest platform of brokerage options in the crypto market. As a rule, the prices you pay for a transaction already include a fee. At the same time, depositing cash via SEPA bank transfer is free for residents of European countries. Access to this platform is open to anyone interested in the cryptocurrency world.
Thanks to the simple trading scheme on Bitpanda, you can sell and buy Bitcoin quickly. The company provides a wide range of functions and has several advantages: low fees, fast payment, and a user-friendly interface.
6) Bitstamp service
The Bitstamp service is a reputable and reliable platform that does not charge any deposit fees for payment via SEPA bank transfer. You can use a credit and debit card to purchase cryptocurrencies.
To use the functions of the Bitstamp service, you need to create a SEPA bank account, link a digital wallet, and add cash. After, you can choose convenient payment methods. Depositing is free, but withdrawing money entails a fee of three dollars. It is easy to sell and buy Bitcoin on this platform; no special knowledge is required.
7) Kraken platform
Have you ever heard of the Kraken platform? If you’ve never used this service, it’s time to get started!
Kraken is a universal platform in the cryptocurrency world in terms of liquidity and currency volume (euro). Kraken operates in European countries, Canada, and the USA. SEPA deposits are free, and the withdrawal of funds is 0,09 euros.
Undoubtedly, users can use different payment methods. However, the most profitable for the residents of European countries is SEPA bank transfer. To become a user of this platform, you need to create a bank account, add a digital wallet and funds. You also need to go through the verification process to ensure security.
Disadvantages of the service: no broker options and unstable website.
8) Luno platform
The Luno platform is a reliable service that allows people to sell and buy digital assets. SEPA deposit fees are free, and withdrawals are subject to 0,3 euros. To use the platform, you need to create a SEPA bank account, go through the verification process and start purchasing crypto coins.
9) CoinCorner site
Another popular platform for buying cryptocurrencies is CoinCorner. The company offers brokerage options and its digital wallet. As for fees, the exchange does not charge deposit fees made with SEPA transfer. A charge of about 35 euros is provided for the withdrawal of currency.
Moreover, the CoinCorner exchange Has an excellent support service. In case of problems, you can contact the specialists directly. They will help solve all the difficulties.
10) YouHodler site
It is a Swiss platform offering users the opportunity to buy Bitcoin and other different cryptocurrencies. You can also use the service of savings accounts and cash loans. The platform has an easy-to-use interface and intuitive navigation.
The minimum deposit is 50 euros. It is worth noting that deposits via SEPA bank transfer are free! If you want to withdraw funds via SEPA, you need to pay five euros. A transaction between a fiat currency and a cryptocurrency costs about $30.
To sum up, buying cryptocurrencies is not an easy matter; you need to know some of the subtleties of the digital industry and understand the processes of purchasing digital assets. As a rule, there are many payment options, including SEPA transfers.
SEPA bank transfer is a convenient and cheap way to pay for digital currency, avoiding high fees. Keep in mind that SEPA transfers operate in EU countries. Usually, the SEPA payment method takes longer than other payment methods (credit or debit card). Therefore, you will have to wait for some time until the payment is completed. If you want SEPA transfers, choose the best exchange with the SEPA option and buy digital coins!
Frequently Asked Questions (FAQs)
Can I buy Bitcoin with SEPA?
Absolutely! You can buy Bitcoin through SEPA on platforms that accept such payment methods. Check out the list of such exchanges: Coinbase, Kraken, Luno, and others, and review their terms of purchase of cryptocurrencies. Using SEPA allows you to reduce fees and gives customers huge advantages.
Where can I buy Bitcoin in the EU?
You can buy Bitcoin and other crypto coins in European countries using the following platforms: Coinbase, Kraken, Luno, Coinbase Pro, YouHodler, Bitpanda, Coinmama, and others. Honestly, there are many such platforms! The most important thing is to read their policies and conditions carefully.
How can I buy Bitcoin from my bank account?
To buy Bitcoins through a bank account, you need to add money to your digital wallet. After initiating the deposit from your bank account, you can convert that balance into bitcoin. Make sure that Bitcoin is part of your cryptocurrency portfolio. After converting assets, you can buy BTC. It’s simple!
Can you buy Bitcoin with TransferWise?
Using LocalCoinSwap and other platforms, you can buy and sell bitcoin for popular payment methods like TransferWise. Enter the necessary data into the search engine and filter the query by significant criteria (price, location). Buying Bitcoin with TransferWise is a simple matter.