Buy Bitcoin or investing in it is what everyone should ask themselves if you understand how banks work and how bitcoin works. Buying it is not for everyone, and we understand that better than anyone. Many consumers still see it as an unattainable thing, a thing that is not in the physical world as matter and therefore quickly give up. This is actually a great pity, because money as we know it today is actually not much more than a few zeros and ones in the bank. It is digital, like bitcoin. When was the last time you touched cash euros? Exactly! Cash is disappearing whether you want it to or not. Bitcoin just has a different philosophy and more functions, is processed differently and has a different value wave than the euro. We won’t predicate bitcoin and treat it like a religion, but we do want to inform you how and when to start buying bitcoins. Starting with that you don’t have to buy 1 whole bitcoin to own the digital currency. Just as we know pennies with our euro money, there are satoshi’s for bitcoin. 1 satoshi is 0.00000001 BTC. So, for example, you can buy and own 0.01 bitcoin. Then you own 1 bitcent or 1 cBTC.
A few important key criteria to directly answer any questions involved with the ‘buy bitcoin‘ topic:
| Buy BTC with: | iDEAL, PayPal and credit card |
|---|---|
| Pay with euro: | Yes |
| Pay with dollar: | Yes, abroad |
| Pay with crypto: | Yes |
| Buy via app: | Possible |
| Buy from 1 euro: | Yes |
| Buy with iDEAL: | Yes, in the Netherlands |
| Buy at ING: | No |
| Buy at Rabobank: | No |
| Minimum purchase: | 1 euro |
| Minimum amount: | 0,00001 BTC |
It isn’t a secret anymore that there are a lot of different crypto coins and tokens. There are more than 12,000 at the time of writing. Among that number are also many coins that are derived from bitcoin. These “copies” are called altcoins. Remember, there is only one real bitcoin, namely Bitcoin (BTC) or digital gold. BTC is the ticker or abbreviation of the name itself. Sometimes you will see a dollar sign $ before the ticker, such as $BTC. The dollar sign is added to symbolize it as a ticker, just as it is in the stock market. Some claim that Bitcoin Cash with ticker (BCH) or $BCH is the only real one, but those claims are mostly self-serving. Therefore, which bitcoin to buy should no longer be a question. So don’t be fooled, as there can only be one king in the crypto market who carries the legacy of Satoshi Nakamoto. You can recognize this one by the orange logo. To ensure there is no confusion, we have listed below all the “well-known” bitcoins that bear the same name, but are really an altcoin:
Source: Coingecko
It’s up to you of course which of the crypto variants piques your interest. Whichever one you choose, never invest more than you can lose!
It is impossible to imagine our online shopping activities without the Dutch payment processor iDEAL You buy something, use iDEAL to pay via your own Dutch bank and receive the product not much later. But did you know you can also buy bitcoin with iDEAL? Yes, as long as iDEAL supports Dutch banks like ING, Rabobank, ABN Amro, Bunq, Knab, etc. you can buy bitcoin with iDEAL.
Buying BTC with iDEAL depends on the exchange or broker where you want to buy the crypto. It can be direct and indirect.
A number of providers allow you to buy bitcoin directly with iDEAL. On the trading platform you enter the amount you want to buy and pay directly with the payment method. Your purchase will then be deposited in the platform’s online wallet or sent to your external wallet. The providers where you can purchase digital gold directly with iDEAL are:
Most providers today use indirect buying. On the trading platform, you deposit credit via the payment method, after which you can buy bitcoin with your credit. Your purchase is then deposited in your online wallet of the exchange or broker. The providers where you can purchase the digital gold indirectly with iDEAL are:
Buy Bitcoin with the euro is the most common way in Europe to get your hands on a piece of digital gold. All providers on CoinCompare offering the crypto support the euro currency, which you can use to buy and sell. Each provider uses its own name for the deposited euro credit. Coinmerce, for example, calls the credit Coinmerce Coins. Whatever it’s called, it always retains a 1-to-1 euro value.
Buying bitcoin safely is of course something that should go without saying, but unfortunately this was not always the reality in the past. Nowadays it is different. Security is a high priority with exchanges and brokers, some even have insurance in place for when you lose your crypto and in terms of education there is plenty on the subject. Also, all providers on CoinCompare have been tested by us and extensively reviewed. In addition, the providers are registered with the Dutch Central Bank. For this, they must meet a number of strict conditions to be operational.
This does not mean that a 100% guarantee can be given that everything is safe. When you buy bitcoins directly and want to send them to your external wallet, you have to enter your wallet address. A small mistake in the random string of numbers and letters and you lose everything. So the attention and security lies not only with the provider, but also with you as a user. Therefore, keep in mind that you as a user are ultimately the best defense against account breach and theft. Stay clear-headed when dealing with crypto. Do not fall for shady bitcoin ads from celebrities and people who promise sky-high returns.
That you can exchange the digital gold at providers like Bitvavo and Coinmerce may be obvious. But can you buy bitcoin at Rabobank? The direct answer is no. It is not possible to buy or invest in bitcoin and other cryptocurrencies at Rabobank. The initial goal of crypto is precisely to put the intermediary, such as banks, out of business. It would be contradictory, but well that shouldn’t stop a bank from applying a new revenue model. Whether investing in cryptocurrencies at Rabobank will ever be offered remains to be seen. There are already banks around the world that do offer the option of buying and investing in bitcoins. Before it gets that far in the Netherlands, the Netherlands Authority for the Financial Markets (AFM) will first have to address the hypothesis.
Buy bitcoin at ING or investing in it, is a question that comes up often. Unfortunately, it is not possible to invest in bitcoins and other cryptocurrencies at ING. The philosophy behind the digital currency is precisely to strip a bank like the ING of its power and give that power of money back to the consumer, so to speak. There’s no telling if ING will ignore the option of making bitcoin buying possible for consumers. But there is a very small chance that that option will ever come. Some banks do offer a service where you can store your crypto there. That is more likely to be offered than the option to buy the digital gold there or invest in it.
When to buy bitcoin? When to get in? Is now a good time to buy? These are questions which are being asked on a regular basis. Let’s face it, we don’t have a crystal ball to see the future, nor can we give advice on when to get into bitcoin. The answer is 9 out of 10: “do your own research”. Once done, decide when you are ready. When to buy bitcoins depends on the market and your personal situation. In any case, make sure of the following:
If you can meet these conditions you are already well on your way. If you decide for the short term, you should carefully examine what stop limit orders are. You can use them to limit your losses. Limit orders are supported by Bitvavo, Coinmerce and Knaken. If you go for the long term, find out what dollar cost averaging (DCA) is. With DCA, you buy a little bit of bitcoin every month, after all necessary bills are paid, regardless of the price. When you do nothing with it for the long haul, put your BTC in staking.
You can purchase the digital gold from as little as 1 euro. However, this is only possible with one provider, namely BLOX. All other providers have a minimum purchase of 10 euros.
Bitcoin and other cryptocurrencies can be bought and sold from any provider starting at 10 euros. Some providers do charge a higher rate if you buy small amounts.
All exchanges and brokers on CoinCompare support the payment method iDEAL to buy bitcoin and other crypto coins and tokens. At one provider, you immediately exchange your euros for bitcoin. At others, you must first deposit money via the payment method to be able to buy crypto afterwards.
At all exchanges and brokers supported on CoinCompare you can easily, safely and securely buy bitcoin and altcoins. Please note that some providers require you to deposit money first, before you can place a buy order.
It is not possible to buy bitcoin at Rabobank or invest in it through the bank. This also applies to other cryptocurrencies!
It is not possible to buy bitcoin at ING or invest in it through the bank. This also applies to other cryptocurrencies!
