9 Best Exchanges to Buy Crypto & Bitcoin in Germany (2023) (2023)

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Germany’s capital, Berlin, was dubbed as the Bitcoin Capital of Europe by British publication The Guardian back in 2013 thanks to the widespread acceptance of the cryptocurrency in the city. Not surprisingly, Germany is a leader in Bitcoin adoption as various developments suggest. For instance, over 25% of the young Germans surveyed by the German Consumer Center were willing to invest in cryptocurrency.

A new law passed by Germany’s parliament in April 2021, will allow institutional investment into the cryptocurrency market. Under the legislation, wealth and institutional investment fund managers, known as Spezialfonds (special funds), will be able to invest up to 20% of their portfolio in crypto, allowing as much as €350 billion (~$425 billion) to be invested in cryptocurrency. Since Germany is a strategic player in the European Union this type of acceptance could occur in other countries. Other signs that show acceptance of cryptocurrencies is Deutsche Bank announcing its intentions to offer custody and brokerage services to its institutional clients by December of 2021.

The new law allows banks to get a license to deal in crypto, but as of October 2022 only 4 licenses have been issued and 14 provisional permits granted. Germany continues to be among the world's most crypto-friendly countries with favorable tax rules and stable regulations.

A survey by German retail bank Postbank suggests that 29% of Germans treat cryptocurrencies as a desirable investment avenue. Additionally, leading corporate houses in the European nation have been integrating Blockchain technologies in their businesses. More importantly, the German government has been supportive of Bitcoin and that has played a critical role in the adoption of the cryptocurrency.

The Germans government has been supportive of Bitcoin

One of the easiest ways to buy Bitcoin in Germany is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Germany, allowing you to select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be considered before selecting one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

Another way to buy Bitcoins in Germany is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them don’t require any verification either, thereby ensuring the buyer’s anonymity. You can locate Bitcoin ATMs in Germany using our Bitcoin ATM Map, though there are only three of them available for now in the cities of Berlin, Stuttgart, and Munich.

As far as spending Bitcoin is concerned, we have already seen that the scenario is a positive one in the country as evident from the Tourism Board’s decision to accept payments in Bitcoin. In fact, a closer look suggests that there are quite a few businesses accepting Bitcoin payments in Germany’s major cities such as Munich and Berlin.

In all, Germany has a thriving Bitcoin environment that could get better in the future, assuming that the government takes positive steps toward protecting investors’ interests.

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There are three main types of Bitcoin wallet and all of them are supported in Germany:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Call Centre Scam

In October 2021, German and Georgian authorities raided a scam call centre. The fraud ring had set up 6 companies in Georgia targeting people living in Europe. The companies offered various financial instruments, including cryptocurrencies with assurances of a solid profit. Authorities reported that the scheme involved €9.5 million and so far 7 people have been arrested.

Reputable businesses will never call you to solicit buying crypto. To avoid scams, individuals should always use reputable exchanges like those listed above for investing in bitcoin.

Karatbars

Karatbars was a German based cryptocurrency pyramid scheme that enlisted the faces of some of Germany's biggest soccer stars, Lothar Matthäus, Roberto Carlos and Patrick Kluivert to promote its scam.

Here is what the home page of the scam looks like; not exaclty something that inspires confidence.

Karatbars would sell what it called "cryptonyzed gold" to prospective affiliates who would then bring in their friends and earn a commission. The coins were alledgedly backed by gold bars out of a mine in Madagascar operated and owned by Karatbars.

The company managed to raise $100 million through sales of the coin. The claim was that once so many people owned this crypto, it would revolutionize the economic system.

Unfortunately for Karatbars, German regulators swiftly swooped in and demanded that the scheme be shut down.

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Does Coinbase work in Germany?

Coinbase does NOT support customers in Germany as of September of 2020.

Where Can I Find a Bitcoin ATM in Germany?

You can use our Bitcoin ATM finder tool to find the one nearest you.

What is the price of Bitcoin in Germany?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

How do I cash out of bitcoin in Germany?

Any exchange with a Euro trading pair will allow you to sell your Bitcoin for fiat currency. Bitpanda and Bitcoin.de has EUR trading pairs for many popular coins.

You can also use CoinATM Radar.com to find Bitcoin ATMs in your city if you wish to exchange your Bitcoin for cash in the quickest amount of time.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.

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With over 500 Bitcoin exchanges around the world, it can be difficult to know which ones you can and should use. This all depends on your country of origin, which coins you want to trade using Bitcoin, and how you want to pay and withdraw your Bitcoin.

If this is your first time buying Bitcoin than you should try Bitcoin.de as it provides a safe and easy-to-use way to purchase Bitcoin from the other people.

Read on to see how it works.

What is Bitcoin.de?

Starting in 2011, Bitcoin.de became of Europe's largest marketplaces to purchase, trade, and sell Bitcoin. It now claims to host over 800,000 users.

Bitcoin.de homepage

The marketplace works unlike most cryptocurrency exchanges as you purchase Bitcoin directly from the seller using a wire transfer. All users are verified and then continuously rated by other users to increase trust levels and the ability to withdraw more Bitcoin.

Prices are based on the supply and demand of Bitcoin just like an exchange, however, you don't have to wait for your buy order to get accepted by a seller. Instead, you find a person who is selling Bitcoin for a reasonable market value and purchase it.

If you are looking for the best Bitcoin exchange to ensure you buy at fair prices from verified users then you can't beat Bitcoin.de.

Supported Countries

The .de means that the Bitcoin exchange is located in Germany, however, anyone in Europe can use the exchange. It also supports several languages including German, English, Italian, French, and Spanish.

Bitcoin.de supports all of Europe

Owned by the German group Bitcoin Deutschland AG, the marketplace uses cold storage and keeps coins in escrow until bank transactions get confirmed. It also hosts all of its servers in Germany where their procedures and equipment are audited by third-party security companies.

The marketplace has a mutual partnership with Munich's Fidor Bank, which adds to its safety and ease of use for Europeans.

Fees

When looking at this Bitcoin exchange guide you will notice that the fees are slightly higher than the average exchange. While the price might be higher to buy and sell Bitcoin, you could find even higher rates on less secure sites and when using credit or debit cards.

Since there are two ways to purchase Bitcoin there are also two different fee amounts.

The fees are as follows:

• Trading Bitcoin through SEPA (Single Euro Payments Area) bank transfer: 0.5% for both seller and buyer
• Trading Bitcoin through Fidor Bank account: 0.4% from the exchange and 0.1% charged by Fidor
• Withdraw fees: fluctuates based on the network, Bitcoin.de doesn't keep these fees

Fees are automatically deducted when you make a purchase or a sale.

Payment Methods

When you make an account through the marketplace you must first enter a bank account. The account is verified and tested using small deposits for you to enter into your profile.

Bitcoin.de approves any bank account that is SEPA-supported.

Bitcoin.de supports SEPA transfers

Once verified, you can use your bank to transfer Euro to a seller. This works by receiving the seller's bank account information. You then need to transfer the funds within a 14-day window of making the purchase.

You will receive the Bitcoin once the seller confirms receipt of your payment.

Another option is to open a bank account with Bitcoin.de's banking partner: Fidor Bank. The advantage of using Fidor is that you can use the express purchase option.

Instead of waiting for your payment to be confirmed by the seller, your purchase is processed within a few seconds. Your Bitcoin will be available to trade, store, and withdraw.

You can even reserve funds in your Fidor account to make Bitcoin purchases.

If you have Bitcoin in another exchange or wallet you still need to have a verified bank account linked to your profile. You can then send Bitcoin to your Bitcoin.de receiving address. This works well if you want to sell your Bitcoin and trade it for another supported coin as you will see in the next section.

Supported Coins

The marketplace serves as a place to do some Bitcoin trading. New coins are becoming available in the future, but for now, Bitcoin.de only supports the following trading pairs:

• BTC/EUR (Bitcoin/Euro)
• BCH/EUR (Bcash/Euro)
• BTG/EUR (Bitcoin Gold/Euro)
• BTC/IOTA (Bitcoin/Iota)
• BTC/DASH (Bitcoin/Dash)
• BTC/GNT (Bitcoin/Golem)
• BTC/LTC (Bitcoin/Litecoin)

Go to the Marketplace tab in the top menu to see buying pairs. You can either make a simple purchase or place a bid or ask to buy and sell the supported coins at a certain price.

supported trading pairs on Bitcoin.de

Security and Customer Service

Your account can also be kept safe from personal intrusion using a 2-step authentication process that is optional but encouraged. You will also receive a key code to recover your account if your password gets lost.

Your purchases and sales are protected from fraud as funds aren't released until payments get verified. A transaction using Fidor ensures your funds are received using reserved funds for instant processing.

Another perk is that Bitcoin.de has an impressive customer service team as they respond quickly. However, the site doesn't offer a live chat option or phone number, which is common for most exchanges.

Getting Started Buying Bitcoin

Overall, Bitcoin.de is a solid exchange and a good alternative to Coinbase.