How to buy bitcoins at Bitvavo?
According to our review, Bitvavo is one of the best crypto exchanges in Europe. Bitvavo is therefore the perfect exchange to buy Bitcoins. In this tutorial, we will show you how you can quickly buy bitcoins at Bitvavo.
Why buy bitcoins at Bitvavo?
- Bitvavo is a reliable, Dutch crypto exchange
- You can buy bitcoins from as little as €1 via the website
- The user-friendly interface makes Bitvavo accessible
- You can trade your first €1000, of crypto for free
Click the button below to open an account with Bitvavo immediately & pay no transaction fee on your first €1000, of transactions:
Step 1: buying bitcoin at Bitvavo
Before you can buy bitcoins at Bitvavo, you must first open a free account. Opening an account is easy: all you have to do is enter your email address and password.
However, before you can start buying & selling bitcoins, you will need to verify your account. You do this by uploading a copy of your ID and by confirming your mobile number with an SMS.
Step 2: deposit money
Before you can invest in Bitcoins at Bitvavo, you need to deposit money at the exchange. You can do this easily by means of bank transfer or iDEAL. To do this, press the deposit button and enter the amount you want to add to your account.
Step 3: Buy bitcoin!
Once you have money in your account, it is easy to buy your first Bitcoin. Fortunately, you do not have to buy all of your Bitcoin in one go: it is also possible to buy part of a Bitcoin.
You can buy bitcoin by clicking on the crypto coin in the overview of crypto coins. The order window for bitcoins will open immediately. To place an order, simply fill in the amount you wish to invest in Bitcoin and press buy.
Selling bitcoins works the same way. After you have done this once, you can actually trade bitcoins whenever you want.
What is Bitcoin?
Before investing a substantial amount of money in Bitcoin at Bitvavo, it may be wise to first research what Bitcoin really is.
Bitcoin is an example of a cryptocurrency: a form of digital money. You can use Bitcoin to make payments online and in various stores. The value of Bitcoin is entirely determined by the fact that people trust it.
What makes Bitcoin unique is that it uses the blockchain to verify transactions. A large network of remote computers constantly keeps track of all transactions made on the Bitcoin network. This keeps the network secure without the need for a third party to secure it.
Why should you invest in Bitcoin?
There are dozens of reasons why investing in Bitcoin can be interesting. Most people who consider buying Bitcoins do so mainly because of the high potential price gains they can achieve with it. In 2020 and 2021, for example, the cryptocurrency constantly reached new highs.
However, speculation is not the only reason to buy Bitcoins: more and more people believe in a bright future for Bitcoin. As more countries and companies accept the cryptocurrency, it is gaining online status. If you also have great confidence in Bitcoin, you may want to consider investing in it.
Are there any risks?
Do not deposit your entire bank balance into your Bitvavo account right away! Investing in Bitcoin definitely comes with risks. The high volatility can cause you to lose a lot of money in a short period of time. You also need to be able to withstand the strong fluctuations: 70% of individuals lose money with Bitcoin because they exit immediately when the price drops.
I would not recommend Bitcoin to everyone: it is a highly speculative product with an uncertain future. If another cryptocurrency takes over from Bitcoin in the future, the price may drop significantly. Therefore keep an eye on the latest developments when investing in Bitcoin!
Bitvavo Bitcoin price
The chart below shows the current price at which you can trade Bitcoin.
When buying bitcoins at Bitvavo, it can be wise to spread your purchases out. Don’t invest all your money at once: there is a risk that you invest a large amount just before a big crash. By applying Dollar Cost Averaging, you buy at different times, which decreases the risk of buying Bitcoin at the wrong moment.
It is also important to keep a close eye on the security of your Bitvavo account. In this article, you can read in more detail how to do that.