How to Buy Crypto in Germany in 2024

What are the Best Bitcoin Exchanges to Use in Germany?

Due to the level of regulatory clarity and general interest around cryptocurrencies in Germany, there are quite a few quality exchanges to choose from in this jurisdiction. That said, you will want to think about your own needs before even considering which cryptocurrency exchange in Germany will be the best option for your situation.

For advanced traders who are more interested in paying the best price possible for their crypto assets, Kraken and Bitstamp are two of the oldest, most well-established exchanges in the world. And they both offer their services within the country of Germany. That said, these two exchanges do not list every single cryptocurrency under the sun, so those of you who are interested in trading more niche assets may want to opt for Binance.

Another interesting option for the German market is eToro. That said, it’s important to realize that the functionality of cryptocurrency on this platform is somewhat limited. For many crypto assets, users do not actually take ownership of the asset on this platform. Instead, financial derivatives are used to effectively bet on the future prices of the coins. For more established coins, users are able to withdraw their holdings to their own personal wallets.

If you’re someone who is interested in privacy, then there are plenty of peer-to-peer options to take advantage of in Germany. In addition to traditional options like LocalBitcoins and Paxful, there are also plenty of Bitcoin ATMs available for those who want to try out paying for a beer with some Bitcoin over the Lightning Network for the first time.

What is the Cheapest Way to Buy Cryptocurrency in Germany?

There are a number of established exchanges that operate in Germany, and these sorts of advanced platforms for traders are always going to be the best option when it comes to finding the cost for turning your euros into Bitcoin or any other cryptocurrency. That said, it should be remembered that not all cryptocurrencies have trading pairs with fiat currencies, which means you may have to convert your euros into Bitcoin before you’re able to gain access to the alternative crypto asset market. This means you will effectively be paying trading fees twice in order to gain access to some of the more niche cryptocurrency offerings.

Some of the established exchanges that offer low trading fees in Germany include Kraken, Bitstamp, and Binance. If these platforms are a bit too confusing for you, then you may want to opt for an exchange that allows you to simply make a credit or debit card-based transaction for your first Bitcoin purchase. Coinmama and Bitpanda are two popular options for making these sorts of purchases with traditional payments rails.

Is Crypto.com Available in Germany?

Yes. Crypto.com is fully available in the country, which means Germans can take advantage of the popular Crypto.com Visa Card as well as the Earn, DeFi and NFT products.

You can even use Crypto.com’s tax software to do your crypto taxes in Germany.

Where Can I Buy Altcoins in Germany?

While there are a number of different exchanges that will allow you to purchase altcoins in Germany, the reality is some of the most highly respected and trusted exchanges tend to stick with Bitcoin and a couple of the other major crypto assets. If you are someone who wants to dabble in some of the smaller crypto assets, then you’ll want to take a closer look at Binance, which offers more than 1,000 different trading pairs and has one of the most reputable brands in the space.

As always, it’s important to remember that there are a lot of scams out there, so be careful when it comes to placing a large amount of money in some of these smaller assets that do not have anywhere near the level of liquidity seen in something like Bitcoin.

How to Buy Bitcoin in Germany

Most crypto investors use crypto exchanges to buy their first cryptocurrency.

The process can be a little time consuming but it’s relatively straightforward. It also varies from exchange to exchange but it will generally be some form of the following:

1. Sign up for your crypto exchange of choice
2. Provide identity verification (ID, home address, date of birth etc.)
3. Set up a way to fund your account (bank transfer, debit, credit card)
4. Initialize a transfer to the exchange
5. Use your funds to purchase cryptocurrency
6. Optional: Send your new crypto to a private personal wallet

How to Buy Bitcoin with a Credit Card in Germany

There are a few different platforms that allow you to purchase Bitcoin with a credit card in Germany. The exchange that offers the lowest fees for this particular payment option is Bitpanda. Having said that, Crypto.com has been running a promotion in 2020 that makes their platform another attractive option for purchasing crypto assets via a credit card.

While there’s nothing wrong with purchasing Bitcoin with a credit card when you’re first getting started in this space, it’s important to remember that this type of transaction has a tendency to eat into the possible profits you could be earning when your crypto assets increase in value. After all, you will actually lose money if your crypto asset does not rise by at least 3% in nearly all situations where you originally purchased the cryptocurrency with a credit card.