Are you interesting in buying Bitcoins in Germany? Do you want to know how to buy Bitcoin in Germany? Then, this post is just for you as it looks at the top 8 ways to buy Bitcoins in Deutschland. With an extensive history of destruction and rebirth, Germany is one of the few nations in the world that has experienced hyperinflation in the last century. It was during this period that Germans faced monetary turmoil and the reason why they still do not trust banks and continue using cash. When it comes to monetary policy, the national bank of Germany is always cautious and works toward ensuring a stable currency. However, ever since the global financial crisis in 2008, the Euro Zone has followed a more aggressive monetary policy. Many Germans are wary of this approach and the risk of exposure to derivatives. Thus, they have started to look for other alternatives to money such as Bitcoin, qsp coin and gold.
Moreover, German tech experts and enthusiasts have led the Bitcoin innovation. Germany is the capital of Bitcoin movement in Europe. Hence, Germany is a major player in the world of Bitcoin. So, if you are interested in buying Bitcoin in Germany, this post will be extremely useful.
Bitcoin Regulations in Germany
In order to buy Bitcoins in Germany, it is crucial to first understand the regulations in place. Germany is one of the first countries in the world that classified Bitcoin as a unit of account in 2013. This clearly shows that German authorities have recognized Bitcoin as a form of money from the beginning. Since Bitcoin is not issued by the central bank of a specific country, it is not considered to be the equivalent of another nation’s currency. Thus, Germans can use Bitcoins for payments and much more as long as all the parties agree to the usage. According to a report issued by the Financial Stability Committee of Germany in 2018, cryptocurrencies are not a threat to the financial stability of the country. Hence, Bitcoin is widely accepted throughout Germany.
Taxation of Cryptocurrency in Germany
As per the directions of the Finance Ministry of Germany, Bitcoins are exempt from VAT when used for the payment of services and goods. However, the exemption is only applicable for amounts less than 600 Euros.
So How Can You Buy Bitcoin In Germany?
Ever since the introduction of Bitcoin, more and more platforms have propped up. These platforms allow you to buy Bitcoin in real-time. The following 8 platforms will make it incredibly easy to do so.
Cryptocurrency Exchange
- Coin Mama
Coin Mama is one of the easiest ways to buy Bitcoins in Germany. It allows people to buy Bitcoin using any credit or debit card that has been issued by VISA or MasterCard. The service is available in 188 countries. If you are looking for the simplest way to buy Bitcoin, then, Coin Mama has got you covered. You will get the Bitcoins within half an hour. It does not get better than this. Moreover, German residents may also use the new SEPA bank transfer option for buying Bitcoin.
The option lets you buy Bitcoins with Euros. However, keep in mind that there is a rule which requires you to have the bank account in your own name. Furthermore, bank transfers on the other hand have higher limits and lower fees unlike card purchases. But, they are not as quick as the process could take up to two business days at times. With Coin Mama, you can create an account in just 4 easy steps. All you have to do is visit their official website to get started with the process and to verify your account. The rest will be taken care of. Coin Mama is one of the most popular international Bitcoin exchanges.
- Bitwala Bitwala
Remove traditional banking and Bitcoin barriers by using Bitwala Bitwala. It is a popular Bitcoin exchange that takes care of your Bitcoin needs. Launched in 2014, Bitwala Bitwala has made it extremely easy for everyone to buy Bitcoins. The company offers many innovative ways for customers to buy and sell Bitcoin. The platform provides you with a Bitcoin wallet and a bank account. Users have the ability to switch seamlessly between the two assets and spend on funds quickly using a debit card. Moreover, the fees tend to be fair. Besides, the platform is safe to use for everyone.
- CEX.IO
CEX.IO is an incredible platform for buying Bitcoins in Germany and many other countries around the globe. Launched in 2013, CEX.IO has its headquarters in London. It is an impressive cryptocurrency exchange that allows you to buy and sell Bitcoins. It accepts payments through various methods. Moreover, CEX.IO provides a brokerage service and a trading platform for different fees.
- Coin House
Based in Paris, Coin House has been operating since the year 2014. It is affiliated with Ledger which is the most popular hardware wallet provider out there. Coin House provides Bitcoin enthusiasts with a safe online platform where users can come together to buy and sell Bitcoin. If you are in Germany, then it is just the platform that you need to be using.
- CFD Broker
CFD brokers offer a quick and convenient entry into cryptocurrencies and allow you to easily trade Bitcoin CFDs. It is a great option for anyone looking for a safe option. If you want to save money for your wallet, then, CFD brokers are your best bet.
- Bitcoin ATMS
There are plenty of Bitcoin ATMs which work in a similar way as a local Bitcoin exchange. They allow you to insert cash into the machine for buying Bitcoins. The Bitcoins that you purchase would be transferred into a secure digital wallet.
- P2P
P2P is not the same as decentralized exchanges which bring sellers and buyers together anonymously. Peer-to-peer exchange has become a popular option for buying and selling Bitcoins in Germany.
- Financial Institutions
There are some financial institutions which allow you to convert your bank balance into Bitcoin. More financial institutions are likely to follow suit in the wake of Bitcoin emergence.