DeutschDo you want to buy Bitcoin (or sell) and also profit from the price developments of the largest cryptocurrency? Nowadays, this is possible in many different ways. In this article, we will show you step-by-step how to buy BTC (or sell) and what different possibilities there are to invest in the cryptocurrency Bitcoin.
Where to Buy Bitcoin? The Best Brokers and Exchanges at a Glance (Switzerland, Germany Austria)
Before we show you how to buy Bitcoin and what you need to pay attention to, we will show you the best providers to invest in BTC in the following overview. You can use these providers from Switzerland as well as from Germany and Austria to buy the cryptocurrency BTC.
Provider
Result
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Trade many different cryptocurrencies without a wallet with our CFD broker test winner Plus500 - 7 days a week.
Regulated provider from Austria - specializing in trading Bitcoin, Ethereum, stocks and many other assets.
CFDs and real stocks in a trading platform with free deposits and no conditions - that's XTB.
OKX is one of the largest crypto exchanges in the world and combines numerous functions such as a wallet, staking, futures, margin, and spot trading in a single platform.
With several hundred thousand customers worldwide, Binance is one of the top 10 largest and most well-known exchanges. The use of the exchange is free of charge, with fees only applying to the purchase and exchange of cryptocurrencies.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
What is Bitcoin? What You should Know before Buying BTC
Bitcoin is the first and still best-known cryptocurrency. Bitcoin has existed on the market since 2009 and has gained considerably in popularity, especially in recent years.
Although cryptocurrencies like Bitcoin are actually intended to serve the payment system and thus be an alternative to the classic banking system. Nowadays, however, cryptocurrencies play a much larger role. As a means of payment, speculation object and as a means to an end for decentralized applications. Bitcoin is even said to have the function of a store of value and is called a digital gold.
This is due to the properties of Bitcoin. Bitcoin is based on a Blockchain. This is a kind of chained list as a database. All transactions are recorded on the blockchain and are publicly visible to everyone. In addition, the number of Bitcoins is limited to 21 million. The scarcity leads to the fact that the Bitcoin price rises, the more investors want to invest in Bitcoin.
Detailed information about how Bitcoin works and what makes the cryptocurrency so special can be found in our basic article “What is Bitcoin?”.
Trade Bitcoin - the Smart Way
- You should first decide how you want to participate in the performance of Bitcoin.
- If you want to trade Bitcoin as a CFD, you should compare offers and providers. You buy/sell with leverage (e.g. in euros or Swiss francs) and can buy and sell depending on the price development. We have tested two providers there: XTB and Plus500.
- If you want to buy the cryptocurrency on Bitcoin exchanges and put the coins in a wallet, there are many exchanges. It is worth taking a look at our crypto broker comparison.
- Don't forget: To own real Bitcoins, you need a Bitcoin wallet with a strong password and secure storage of the keys.
Buy Bitcoin: the Difference between Exchanges and Brokers
If you invest in Bitcoin, you have the choice between different providers, all of which have their advantages and disadvantages. You can distinguish between two types of crypto or Bitcoin trading platforms.
On the one hand, there are classic crypto exchanges like Bitvavo or Binance. These are trading platforms where you trade Bitcoin with other users. However, you do not have to be in direct contact with them for this. Instead, trading takes place via an order book in which orders for the purchase and sale of Bitcoin are placed.
In contrast, you buy Bitcoin from the trading platform at a broker. The price is not determined by the users of the platform, but by the broker. This also applies if you want to sell your Bitcoins. The price for Bitcoin can change every second. Well-known brokers where you can trade Bitcoin are Plus500 or XTB. However, both providers are pure CFD brokers that also offer a few real stocks.
Brokers are often clearer than exchanges, but crypto exchanges often offer many other functions such as staking or crypto lending. In addition, the selection of tradable coins is larger and the fees are lower. However, there is an exception: Bitvavo offers both a broker and an exchange version. There is no price difference for you. Therefore, Bitvavo is our recommendation when it comes to buying real Bitcoins as easily as possible.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Buy Bitcoin with PayPal
When it comes to paying online, many people use the payment service provider PayPal. Therefore, it is not surprising that investors like to buy Bitcoin with PayPal. Buying Bitcoin with PayPal has many advantages. You benefit from low fees when buying BTC with PayPal. You can also invest in Bitcoin in real time.
However, it is not possible to invest directly in BTC with PayPal in Germany, Austria or Switzerland. Instead, you must first make a deposit with a broker or crypto exchange that accepts PayPal as a payment method.
Popular providers where you can invest in Bitcoin with PayPal are XTB and Bitvavo. XTB is known for CFDs, Bitvavo for real cryptocurrencies. The advantage of CFD brokers: You do not pay any deposit fees to invest in Bitcoin with PayPal.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Invest in Bitcoin with Credit Card
Anyone looking for an alternative to buying with PayPal should be interested in investing in Bitcoin by credit card. As with PayPal, you benefit in this case from being able to participate in the performance of Bitcoin in real time.
An advantage compared to PayPal is the fact that most crypto exchanges now support deposits by credit card. You have the free choice of where you buy Bitcoin with a credit card.
If you want to buy Bitcoin with a credit card, you should pay attention to the fees. Because here the individual providers differ sometimes enormously.
Buy Bitcoin with Bank Transfer
If you do not have a PayPal account or a credit card, you can also buy Bitcoin classically by bank transfer. Whether CFD brokers such as Plus500 or globally operating crypto exchanges such as Binance, Coinbase, Bitvavo or Kraken – there are no or only very low fees of up to one euro per payment for bank transfers.
However, there is a disadvantage if you want to buy Bitcoin with a bank transfer: You cannot invest in Bitcoin immediately in these cases. As a rule, you can expect a waiting period of two to three days before you have access to the money at the provider and can finally buy Bitcoin with a bank transfer. In addition, bank transfers are quite error-prone. A careless mistake in the purpose of use can lead to your payment being assigned only days or weeks later. Therefore, we recommend buying Bitcoin via PayPal or credit card, provided that the provider supports these payment methods.
Why should You Buy Bitcoin?
There are many reasons to invest in Bitcoin. On the one hand, Bitcoin has been one of the best investment opportunities in the past 15 years since its release. The Bitcoin price rose from a few cents to over 60,000 US dollars within a few years. Conventional investments such as stocks or real estate cannot keep up with this price development.
But is it not too late to buy Bitcoin? Most experts believe that the Bitcoin price will reach six- or even seven-figure amounts. In addition, Bitcoin is increasingly being used as a means of payment – online as well as in stationary retail. In our article 5 reasons to buy Bitcoin, you will learn what else speaks for investing in BTC.
When is the Best Time to Invest in Bitcoin?
If you have decided to invest in Bitcoin, the next question already arises. You are certainly wondering when you should buy Bitcoin. Bitcoin enthusiasts make it very uncomplicated and are of the opinion that the right time to buy Bitcoin is always. They believe in a long-term positive Bitcoin price development. Many experts see it that way too. Above all, the time before a Bitcoin halving has always been a good entry point in the past. Within 1.5 years, the increase in the Bitcoin price finally culminated in an all-time high, before it went up again after a crash shortly before the next halving.
If you share this opinion on the Bitcoin price development, a Bitcoin savings plan could be a good option for you. Because then it does not matter when you buy Bitcoin. Instead, your time horizon and your patience are important. In the past, this would have paid off. However, events from the past are no guarantee for a similar course in the future.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Trade Bitcoin CFDs or Buy Real BTC?
Depending on the provider, you can either buy real Bitcoins with PayPal or only trade with Bitcoin CFDs. Which variant is better for you depends on why you are investing in Bitcoin.
If you only want to participate in the performance of Bitcoin and do not want to use the cryptocurrency otherwise, Bitcoin CFDs could be an option for you. In this case, you benefit above all from the fact that you do not have to worry about the custody of the coins. However, CFDs are associated with high risks, because you never own the underlying asset. Otherwise, CFDs are mainly suitable for leveraged short positions and short-term speculations with low stakes and high risk.
Real Bitcoins, on the other hand, are worthwhile if you also want to use the cryptocurrency technically. So if you want to own Bitcoins that you can transfer to your own wallet, you should use a crypto exchange or a pure crypto broker. Bitvavo and Bitpanda are ideal for this.
Buy Bitcoin as a Beginner: Step-by-step Instructions
If you already know what Bitcoin is and you have made the decision to invest in BTC, we can continue with our step-by-step instructions. In this we show you in detail how you can buy Bitcoin, what you need to pay attention to and how you can then safely store your coins.
Step 1: Choosing the Right Bitcoin Platform
The most important point, but still often underestimated, is the choice of the right Bitcoin platform. Before you can make this decision, you need to ask yourself many questions. For this we have shown you in the previous chapters which deposit methods and types of Bitcoin there are.
If you want to buy real Bitcoins and prefer to deposit with PayPal, you are best off with Bitvavo in our opinion. If, on the other hand, you do not want to worry about the custody of your Bitcoins, ETPs or Bitcoin CFDs (ideally without leverage) are more interesting.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Step 2: Open an Account and Verify your Identity
Now it is time to register with a platform of your choice. Registration with a crypto exchange or a broker usually takes only a few minutes. In order to be able to trade cryptocurrencies, you must prove your identity. This can be done either by uploading your identity card or by video identification. This varies depending on the provider. With a few crypto exchanges, you can even trade without verifying your identity. Then you cannot deposit any fiat money, but only trade crypto-crypto trading pairs.
Step 3: Deposit Money and Buy Bitcoin
Depending on the provider, it takes only a few hours up to a week for your identity to be verified. Now you can choose a deposit method of your choice and make an initial deposit. Then you can buy Bitcoin.
With the best crypto exchanges in Switzerland, you can simply use the provider’s search field and enter Bitcoin. Then the trade takes place either via an order book – or quite simply via a “Buy Bitcoin” button. If you want the simple version, we recommend Bitvavo again at this point for real Bitcoins and Plus500 for Bitcoin CFDs.
Step 4: Securely Store Bitcoin after Purchase
If you have bought Bitcoin CFDs, you no longer have to worry about the safe custody of the coins. If, on the other hand, you buy real Bitcoins, you should no longer leave them on the exchange from a value of over 100 CHF. Because in the event of a hacker attack or insolvency of the crypto exchange, your deposits would not be protected. You should therefore deal with the question of how you can safely store your Bitcoins. We have described in more detail in our crypto wallet comparison what possibilities there are.
Only with your own crypto wallet, where you own the private key yourself, do you really have full control over your coins. Otherwise, you are always dependent on how a third party behaves. You should always keep this in mind when you buy Bitcoin.
Conclusion: should You Buy (or Sell) Bitcoin or not?
You now know how to buy Bitcoin. The big question is certainly whether it is still worth investing in Bitcoin in 2024.
We at CoinPro believe that Bitcoin has come to stay. However, this does not mean that the Bitcoin price will continue to rise steadily. In our Bitcoin price forecast, the outlook was still promising.
If you already have a diversified portfolio, it may be worth investing a portion of your money in Bitcoin. However, Bitcoin should only make up a part of your portfolio. Also, never invest money in Bitcoin that you need elsewhere. Because cryptocurrencies are very volatile and a total loss is always possible.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
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