Best place to buy Bitcoin
You want to buy Bitcoin, but you don’t know where to start? Then you’re right here. Below is a list of the best places to buy Bitcoin in the Netherlands. In a reliable and fast way. With bank transfer, iDeal, credit card, Paypal and other payment options.
There are several possibilities for buying and selling bitcoin. Below we discuss the different options and the pros and cons. Are you a novice user? Then we advise you to use one of the different bitcoin exchange options. This is the easiest, quickest and most of all the safest way for beginners. As an example we take the website of Bitvavo. Bitvavo is the better choice for both the beginner and the experienced cryptocurrency trader.
How to buy bitcoin
Through this website we will explain how buying bitcoins (and other cryptocurrencies) through a foreign exchange, exchange or other methods works. And will we answer the question where to buy bitcoin and how to buy bitcoins? So that you can make an informed choice and understand the different steps.
1.Buy Bitcoin online with debit card
A foreign exchange firm trades in Bitcoin and buys and sells it in order to make a profit. In a exchange bureau you can safely buy and sell bitcoins via iDeal, for example, and this is highly recommended for beginners.
Most exchange offices have a daily purchase limit of a few hundred euros.
If you want to order more than this limit, a KYC check is required. KYC stands for Know Your Customer and this check means that you have to provide personal details and send a passport scan for verification. Some exchange offices only ask you to deposit a small check amount, but at most exchange offices you will first have to create an account and fill in your personal details. The delivery time of your purchase also varies from one supplier to another. At Bitvavo, your purchase will be on your wallet after just a few minutes, which is very nice.
Buying via iDeal is easiest via Bitvavo as a novice (lowest cost too)
Buying and selling through a bureau of exchange is not always the most advantageous, as bureaux de change charge a small fee for exchanging crypt currencies. The advantage is that Bitvavo is one of the cheapest platforms in the Netherlands, as they have low trading costs.
- Buy Bitcoin with iDeal
- Simple, fast and safe
- Simple verification
- Not necessarily the cheapest option
- Possibility that you have to register/identify yourself. This may make it a bit longer before you can start
2. Buying via an exchange
Various online trading platforms bring together buyers and sellers of crypt currencies. This is called a bitcoin exchange. An exchange does not buy or sell bitcoin itself, but only facilitates trading between visitors. Usually you pay for using the exchange transaction fees. These may vary per individual crypto exchange. Selling or buying bitcoins on an exchange is almost always the cheapest option, because they have lower costs. However, it is also more cumbersome than an exchange and requires some technical insight. Also you will most likely have to identify yourself, or the KYC procedure. Therefore, as a novice user, it is not always the easiest option, until you have a basic knowledge. A platform like Bitvavo is recommended for beginners. An exchange that is recommended if you have built up some knowledge is Binance.
After registration you can transfer money to the exchange, usually by bank transfer. In the future, more iDeal will most likely be accepted. You send bitcoins to your unique exchange wallet. Once the money or bitcoin is in, you can use it to buy cryp currency offered on the trading platform. Once bought, you can either save them back in a hardware wallet or you can keep them on the exchange (only wise for a short period of time due to risk of hackers).
- Buy cheap bitcoin
- Large range of different crypt currencies to buy directly
- Basic technical insight needed
- Often takes longer because of KYC registration
3. Trading bitcoins for other altcoins
You can also exchange your crypt currency via certain websites. You cannot buy or sell them. This is a very accessible way to easily get hold of other crypto currencies. Some websites that lend themselves to this are Changelly and Shapeshift. For beginners this option is in practice less accessible because you first need to have a crypto currency before you can trade. If you already have cryptocurrency, then the process is very simple. You choose the coin and the amount you want to exchange, then you choose the coin you want back and you give the address where you want to receive this new coin. For example, ShapeShift will then send you an address where you can send the coin to be exchanged. Usually the whole transaction only takes a few minutes.
- No identification required
- Availability large quantity of altcoins
- No purchases with Euro possible
4. Bitcoin buy from a bitcoin vending machine
Several Bitcoin ATMs can be found in the Netherlands. You can buy bitcoins or buy one or more crypto currencies with Euros and sometimes the other way around. Whether the latter option is available depends on the type of ATM and the providers. Sometimes using the ATM requires identification, but sometimes, provided you stay below a certain amount, this is not necessary.
Using an ATM machine is as fast as you are used to using a regular ATM machine, but the big drawback is that using a Bitcoin machine is expensive. Some ATMs charge up to 10% more than the actual Bitcoin rate, and often charge extra per transaction. This is usually done to cover the exchange rate risk and transaction costs.
The Netherlands currently has about 20 different ATMs, most of which are located in the Amsterdam region. You can find your nearest ATM via CoinATMrader. This website also shows which coins are supported and whether it is an ATM for buying and/or selling. Please note, because this website is not always up to date.
Usually an Bitcoin ATM works as follows: on the machine you choose the currency and the quantity you want to buy. After that you show a QR-code of your wallet address on your mobile phone, after which it will be scanned. In this way, the ATM immediately knows where the purchased bitcoins have to go. You then complete the transaction by entering the necessary notes into the machine. The bitcoins are then sent to your specified address.
- Easy to use
- Quick and practical. It’s physical
- ATMs not in the whole of the Netherlands
- High transaction costs
- There is a limited number of altcoins
5. Buying physical bitcoin – From person to person (p2p)
You don’t always have to buy and sell bitcoins through an exchange or exchange office. You can also exchange them with other people. This is also called a peer-to-peer or p2p transaction. To get in touch with other Bitcoin buyers and sellers, you can use a cryptocurrency p2p platform. An example of such a platform is Localbitcoins. Here, for example, you can see which other buyer or seller is nearby. It also has a handy feature called escrow, which means that the buyer is only paid out when he or she has actually paid.
If you don’t have access to an exchange office or an exchange, then localbitcoins is a nice alternative. However, if you want to make a deal, you’ll often have to meet the other party physically. There is still the alternative to buy and sell bitcoins via Marktplaats or Facebook Marketplace. However, this is not recommended because of the challenges in the field of privacy and security.
Through Localbitcoins you will also have to create an account first and then mutually agree on the quantity and price. After that, you can meet each other to finalize the deal.
- Possible in (almost) every country
- Simple and direct
- No identification required
- Often more expensive than an exchange or exchange office
- Physical meeting of buyers/sellers sometimes necessary
- Being alert for crooks, not the safest option
How do I buy Bitcoin through the Bitvavo exchange?
As discussed earlier, it is very easy for beginners to buy Bitcoin from a currency exchange company. Bitvavo is such an online cryptocurrency exchange and is one of the cheapest in the Netherlands. Via the website of Bitvavo.com, you can safely purchase bitcoins using the iDeal payment method. You only have to follow a few steps:
Sign up: Create a free account with which you can trade, send, receive and save your bitcoin. You can access your Bitvavo wallet from both your mobile phone and desktop.
Transfer euros: Transfer your euros to your Bitvavo wallet or to your own wallet. (For more information, see the wallets section). Transferring euros can be done via one of the eight payment methods, including iDeal and Bancontact. No transaction costs are charged for these popular payment methods. As soon as the payment is complete, you can buy bitcoins directly. Exchange rates can sometimes fluctuate very quickly. And the bitcoin price is constantly updated. The goal is of course to store your bitcoins as cheaply as possible. So it may pay off to play this game and keep an eye on the price, so you can buy at the right time. Note: You don’t necessarily have to buy a whole bitcoin, for example a quarter or a tenth bitcoin is also possible.
Trading: buy or sell more than 50 digital currencies and pay a maximum of 0.25% trading fee. You can send your purchased bitcoin to an external wallet or save it on your Bitvavo wallet.
In short, this is how you can buy btc via Bitvavo.
The different bitcoin steps on Bitvavo:
- Deposit credit to your account by clicking on Deposit Euro;
- Deal with the desired payment method (e.g. iDeal);
- Click on the desired crypto currency (e.g. Bitcoin);
- Select the Buy tab;
- Enter how much you want to buy and click Buy;
- For completion, click Confirm on the next screen;
- Congratulations on your first successful cryptocurrency purchase!
Types of bitcoin wallets
The term ‘wallet’ has been mentioned many times and is the English word for wallet. To buy Bitcoin you need a so-called ‘bitcoin address’. It’s actually a kind of bank account where you can store digital currency for a long time and safely. It is important to check which wallet supports which coins. Each currency has 3 types of wallets:
Hardware wallet (safest option/ long-term storage)
This is the safest way to store bitcoins. It is certainly worth making a small investment in this wallet. The most popular and widely used is the Ledger Nano S. This wallet comes in the form of a USB stick and can be found in the cryptocurrency shop for a price starting at €59.00. The accompanying software for the storage of bitcoins is called Ledger live and you have to download it yourself. This wallet not only supports Bitcoin, but also other cryptocurrencies. Each individual currency has its own app within the familiar Ledger environment.
Exchange wallet (fastest option/exchange to altcoins)
Would you rather not buy Bitcoin, but Ethereum, Ripple or any other cryptocurrencies? Then opt for a temporary exchange wallet. This is where you send bitcoins (from your iDeal purchase). Once you have arrived, you can use it to buy altcoins such as Ethereum. There is a large variety of exchanges. These have an account bound unique Bitcoin wallet and you can find them after registration. Access to your account is password protected and any other advanced security methods are available. After logging in, you can easily manage your cryp currency online. Some well-known crypto-exchange website:
- Binance – Most popular exchange
- Kucoin.com – Large quantity of altcoins
- Coinbase.com – Large and easy to use exchang
Important with exchanges is that you always have to set Two-Factor Authentication. This means that you get a code on your mobile to log in, this provides extra security for your account. This is especially important when using exchanges.
Software wallet (simple/long-term storage)
Don’t feel like investing in a hardware wallet or creating an exchange account? Then a software wallet can help you. An example of such a wallet is the Electrum wallet. This can be installed on your computer and is therefore a very user-friendly option.
- Go to Electrum.com;
- Download the software on your computer; choose your personal operating system, e.g. Windows;
- Install the software (possibly disable firewall for the program);
- Save your seed phrase or seed key! This is a kind of puk code that allows you to restore your wallet in case of an emergency and is very important;
- Go through the steps and copy your Bitcoin wallet address (looks like a string of letters and numbers) to use at a foreign exchange office, for example.
The handy thing about Bitvavo is that you can use your account to buy, sell, send, receive, and store digital currency. In principle, you don’t need your own wallet. This makes it very easy for the beginner, which is why we recommend it.
There are many possibilities when it comes to buying Bitcoin, including in the Netherlands! One example is, for example, to sign up on a crypto trading platform (Bitcoin exchange). This is a place where you can start trading Bitcoin with other users. However, this requires a lot of cryptocurrency knowledge and it is a more time consuming and complicated process. Also, the process is not entirely without risk, because the Bitcoins or Euros you own have to be deposited at the trading platform and there are never any guarantees about the price you pay.
Frequently asked questions about BTC
Isn’t your question in there? Then please contact us.
How long does it take to get my bitcoin when I buy it?
This depends on a number of factors, but in most cases you will have it within an hour. So it can also be in within minutes. With this way it’s one of the fastest ways to move a currency worldwide. With traditional (fiat) money, it could take up to days.
What is the minimum bitcoin I need to buy?
This is minimal, almost every bitcoin site where you can buy has the minimum on a number of euros. So it’s good to buy small first so you can learn the process, as soon as you’re sure everything went well you can buy more.
Je zou in theorie dus zelfs 0.00000001 BTC kunnen kopen. Veel exchanges hebben wel een minimaal bestel bedrag van tientallen euro’s.
Where can I buy bitcoin in the Netherlands?
The most well-known websites in the Netherlands are Bitonic, Btcdirect and Litebit. These are all websites that have been active for more than 6 years and have many thousands of customers, with a good customer service and reputation. So it’s handy to buy on their website the first time, all the information is also explained there how it works.
Where can I buy bitcoin with iDeal?
Again, this is best done with the Dutch websites, namely Bitonic, Btcdirect and Litebit. Everywhere you can easily and safely pay with iDeal.
Where can I best store my bitcoins?
If you don’t want to buy from a Dutch website, Coinbase is a good option worldwide. This is the largest American platform to buy in bitcoin. Also here you can buy bitcoin with iDeal.
Are there smart strategies to buy bitcoin?
A well-known strategy that is used by many people when investing is the Dollar-cost-averaging (DCA). This means that you regularly buy for the same amount, regardless of the exchange rate at that moment. This makes you less volatile in the long term. Read more about this here.