Is it legal to buy Cryptocurrencies in Germany?
Yes, it is perfectly legal to buy cryptocurrencies such as Bitcoin, Ethereum and Tether in Germany. There are multiple Germany-based cryptocurrency exchanges such as Nuri, which was founded in Berlin. However, most German cryptocurrency investing platforms charge considerably high fees and they generally only offer investing in Bitcoin and Ethereum.
We recommend using the eToro Europe platform, it is the only multi-asset brokerage platform in Europe and globally. On eToro users have access to cryptocurrencies, commodities, currencies, stocks, ETFs and indices. The exchange is regulated and licensed to operate in Germany and Europe.
How to Buy Bitcoin and Crypto in Germany
If you’re looking to buy Bitcoin and other cryptocurrencies in Germany, you have come to the right place. In the below example we will use Credit/Debit card as the deposit method but there are various EUR deposit methods to choose from. You can refer to the next paragraph to see the other supported methods. Follow the below steps to get started.
- Sign up to eToro and verify your identity
- Select ‘Deposit Funds’ and choose ‘Credit/Debit card’ as your deposit method
- Fill in your card details, the amount you want to invest and select ‘Deposit’
- Search for ‘Bitcoin’ and input the amount you want to invest then select ‘Open Trade’
What EUR deposit methods are supported?
On eToro you can deposit EUR via multiple funds including Bank Transfer, Credit/Debit card, Paypal, Skrill, Neteller, Rapid Transfer, Klarna, Sofort Banking & Online Banking (Trustly). It’s important to note that all of these deposit methods are instant except for Bank Transfers which can take between 4 - 7 business days to complete.
Buying Bitcoin & Crypto Fees
When you purchase cryptocurrencies on a crypto investing platform there are generally 2 fees involved. Depending on what type of exchange you use this can vary. There are two types of cryptocurrency exchanges, centralised and decentralised exchanges. When you use a decentralised exchange you will need to pay an additional gas (transaction) fee to cover the network fee.
Centralised exchanges will only charge two fees - the deposit and the trading fee. On eToro, german investors will only need to pay the trading fee as EUR deposits are completely free. The trading fee is 1%, on the german exchange, Nuri the fees are 1% + the network transaction fee which can vary from €15 - €30.