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Buy Crypto in Germany

Buy Crypto in Germany

Sara White
Fact Checked
Jan 9, 2023

Summary: The easiest way to buy Bitcoin and Cryptocurrencies in Germany is through a digital asset broker that is licensed and regulated by the European Securities and Markets Authority (ESMA) and BaFin. With this method, customer can transfer funds from their German bank account to buy, sell and trade crypto assets.

Our top pick for German investors is OKX. They are the largest and most trusted exchange in Germany and Europe with over 10 million users. Their platform offers fast & cheap Euro (EUR) deposits to trade & stake over 300 cryptocurrencies with industry-leading fees and spreads.

Table of Contents

Best Crypto Exchange for Germany

Platform Highlights

  • Fast and cheap Euro (EUR) deposits from all German Banks via SEPA Transfer, Debit Card and other methods.
  • Trade & Stake over 300 Cryptos with low fees and tight spreads.
  • Feature-rich platform with Staking, an NFT Marketplace, OKX Chain, OTC Support & more.
OKX - Germany
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Audited Proof of Reserves
Audited Proof of Reserves

How to Buy Crypto in Germany

As outlined above, the best way to buy Bitcoin, Ethereum and other digital assets in Germany is through a regulated exchange in the country. Our recommendation for investors is OKX because they offer fast & cheap deposits from all German Banks via Bank Transfer/SEPA, Google Pay, Maestro, Credit Card and Debit Card.

You can follow these simple steps to get started:

  1. Sign Up: Create an account on OKX and complete your verification.
  2. Find the Buy Page: Select the 'Buy Crypto' tab in the navigation menu and click 'Third-party Payment'.
  3. Deposit Funds: Select EUR and the token you want to buy, then choose 'Banxa' as your Service Provider. With this method, you can deposit Euros via SEPA Transfer, Debit Card and other methods.
  4. Buy Crypto: Input the amount you want to buy and finalise your bank transfer. The crypto will arrive in your OKX wallet in 2-10 minutes.
Deposit Euros and buy Crypto in Germany.
Deposit Euros with OKX and buy Crypto in Germany.

Is Buying Crypto in Germany Legal?

Yes, buying cryptocurrency is legal in Germany. In fact, Germany is considered to be one of the more cryptocurrency-friendly countries in the European Union. The country has taken a proactive approach to regulating cryptocurrency, with the Federal Financial Supervisory Authority (BaFin) issuing guidance on the legal status of cryptocurrencies and outlining the requirements for companies that deal in them.

In general, buying and holding cryptocurrency is not subject to any specific legal restrictions in Germany, although buying and selling cryptocurrency may be subject to tax. As with any financial transaction, it is always a good idea to consult with a tax professional to understand your tax obligations when buying or selling cryptocurrency.

Best Alternative Crypto Exchanges in Germany

For investors looking to do more due-diligence on cryptocurrency exchanges, here are our top 5 alternatives to OKX. All platforms hold the same regulatory standing as OKX, which means they are all safe to use:

  1. Bitpanda: Bitpanda is a Vienna, Austria based crypto exchange that offers over 250 crypto assets for investors across Europe. They are a regulated broker in Europe by the European Securities and Markets Authority (ESMA).
  2. Bitcoin.de: Bitcoin.de is the longest running exchange in Germany that only offers Bitcoin trading. The platform's service is limited, but it holds an important place in the history of digital assets in the country.
  3. eToro: eToro is a social trading platform that allows users to copy other successful traders. The exchange also offers over 50 digital assets for investors in Germany and many other countries around the world.
  4. Anycoin Direct: Anycoin Direct is a Dutch cryptocurrency broker that allows customers to use bank transfers, credit cards, debit cards, and other payment methods to purchase over 20 digital assets.
  5. Binance: Binance is one of the world's largest cryptocurrency exchanges, offering more than 80 crypto assets for investors in Germany. The platform also offers a wide range of services including futures trading and margin lending.
Bitpanda Germany
Bitpanda Germany.

How is Crypto taxed in Germany?

The tax treatment of cryptocurrency transactions in Germany depends on the specific circumstances of the transaction and whether the cryptocurrency is being held as a personal asset or used as a means of business.

If you are holding cryptocurrency as a personal asset, such as for investment purposes, any gains or losses you realize on the sale of the cryptocurrency are generally subject to capital gains tax. This means that you will need to report the sale of the cryptocurrency on your tax return and pay tax on any gains at the applicable tax rate. The tax rate will depend on your total income and the length of time you held the cryptocurrency.

If you are using cryptocurrency as a means of business, such as by accepting it as a form of payment for goods or services, you will generally be subject to income tax on the value of the cryptocurrency received. In this case, the cryptocurrency would be treated like any other form of income and would be subject to tax at your ordinary income tax rate.

It is always a good idea to consult with a tax professional to understand your tax obligations when buying or selling cryptocurrency, as the tax treatment of cryptocurrency can be complex and may depend on your specific circumstances.

What are the Fees for Crypto Investing?

The fees you will pay when investing in cryptocurrency depend on the platform or exchange you use. Most exchanges charge a trade fee, which is usually a percentage of the amount you are trading. Some exchanges also have deposit and withdrawal fees for moving funds onto and off their platform.

In addition to exchange fees, investors should consider other costs that may be associated with trading cryptocurrency such as transaction fees, taxes, and storage costs. Transaction fees are usually paid to miners for verifying transactions, while taxes may need to be paid on any gains realized from selling cryptocurrency. Storage costs may include the cost of hardware wallets or other cold storage solutions needed to securely store digital assets.

Final Thoughts

Cryptocurrency investing is becoming increasingly popular in Germany, as many investors look to capitalize on the potential of digital assets. Our top pick for investors to safely buy and sell  cryptocurrency in Germany is OKX. The exchange is regulated by the European Securities and Markets Authority (ESMA) and provides a secure platform for trading digital assets.

As always, it is important to understand the risks involved when investing in cryptocurrency, including market volatility and regulatory uncertainty. Investors should always do their own research and consult a financial advisor before making any investment decisions.

Sara White

I fell into crypto during the 2017 mania and have been around ever-since. I know write, research and publish my own reports on the digital asset ecosystem.

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