How to Buy Bitcoin In Cyprus

Cyprus’s economy is based on a free and open market, tourism being an important aspect, since the country is a connection between the East and West.

In the last decades, Cyprus has gained stability and economic growth due to the transition from an agricultural period to a modern economy. This has lead to the Cypriot citizens reaching a high level of prosperity.

Cyprus has a relatively crypto-friendly regulatory environment despite its government issuing a warning to its citizens about investing in Bitcoin. Cyprus doesn’t regulate Bitcoin, and it allows blockchain startups, ICOs, and exchanges.

There is even a univerisity that accepts Bitcoin as payment for students fees.

One of the easiest ways to buy Bitcoin in Cyprus is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Cyprus, allowing you to easily 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 kept in mind before users select one.

Additionally, certain exchanges might require buyers to purchase a wallet for use with their exchange. Even if an exchange does not require a wallet it is recommended that you purchase one of your own for security reasons (and 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.

Below is the list of the best exchanges to buy Bitcoin and other cryptocurrencies in Cyprus.

eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.

Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.

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PROS

  1. Offers unique copy trading feature

  2. Trusted exchange that has been active in traditional finance

  3. Interface is clean and easy to use

  4. CONS

  5. You cannot deposit cryptocurrency, but you can deposit with other payment methods

  6. Coinbase is the world’s largest Bitcoin (BTC) broker. They represent an easy and fast way for new users to purchase bitcoins. Coinbase supports customers in over 30 countries, including the United States, Europe, UK, Singapore, and Canada.

  7. Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.

  8. PROS

  9. High liquidity and buying limits

  10. Easy way for newcomers to get bitcoins

  11. “Instant Buy” option available with debit card

  12. CONS

  13. Purchases made with bank transfer can take up to 5 days to complete

  14. Coinbase may track how and where you spend your bitcoins

  15. Bitpanda is a Bitcoin broker based in Europe.

  16. They have high payment limits and low fees across their wide range of payment methods.

  17. Bitpanda offers customers the option to buy bitcoins with credit card, debit card, SOFORT, Skrill, NETELLER, giropay, eps, SEPA, and Online Bank Transfer.

  18. PROS

  19. Some of the lowest fees for buying bitcoins with credit/debit card

  20. Reliable and trusted broker

  21. CONS

  22. Fees aren’t shown openly on the site but instead included in the buying price

  23. Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.

  24. PROS

  25. 24/7 live support

  26. Extremily high limits

  27. 5 Minute verification

  28. Get payouts fast

  29. Large selection of payment methods

  30. CONS

  31. No traditional orderbook for advanced traders

  32. Bity is a Bitcoin exchange and ATM operator, based in Switzerland. Their 5 ATMs allow for a quick first purchase and only require phone verification for an initial buy limit of 1,000 EUR or CHF. Their online service accepts wire transfers, SOFORT and online bank transfers.

  33. PROS

  34. Easy to start buying bitcoins after mobile phone verification

  35. Payment limit of up to €100,000 annually after intensive verification

  36. CONS

  37. ID verification is required for most purchases, so not a private way to buy

  38. Low annual limit of only €4,000 without intensive verification

  39. BitStamp is one of the world’s largest and most well-known Bitcoin exchanges. Deposits can be made through bank transfer, SEPA transfer, international bank wire, and now even credit cards.

  40. PROS

  41. One of the longest-running Bitcoin exchanges

  42. 2.Very low 0.25% fee, falling to 0.1% with sufficient trading volume

  43. Good range of deposit and withdrawal options

  44. Deep liquidity promotes a price close to fair market rate

  45. Offers wide range of altcoins

  46. CONS

  47. Has been hacked before, users should not store funds on the exchange for any period of time

  48. High 8% fee on small credit card purchases, falling to 5% with sufficient trading volume

  49. Geared towards traders; slightly confusing for first time buyers

  50. You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they’re also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5–10%.

  51. PROS

  52. Our map makes it super easy to find a Bitcoin ATM near you

  53. CONS

  54. Bitcoin ATMs often have 5–10% fees per purchase

  55. Hong Kong-based Bitfinex has long been one of the largest USD Bitcoin exchanges in the world. Bitfinex accounts may be funded by bank wire only, their fee on accepting such transfers is low at only 0.1%.

  56. In August 2016, however, it was hacked and lost around 30% of its users funds. While Bitfinex can be helpful for buying large amounts of bitcoins, it is probably best to not use the exchange until it fully compensates affected users.

  57. PROS

  58. Very low fees even for low volume buyers; 0.1% for market makers and 0.2% for market takers

  59. One of the best ways to buy large amounts of bitcoins

  60. Allows lending of fiat or bitcoin to margin traders at interest (but this is risky in light of the hack)

  61. Very deep liquidity promotes a price close to fair market rate

  62. Supports several altcoins

  63. CONS

  64. Was recently hacked and has yet to fully compensate all users for their loss

  65. Geared towards traders; possibly quite confusing for first time buyers

  66. Single payment option

  67. Generate Regular Passive Income Without Buying Mining Hardware.

  68. READ MORE:

  69. https://voskcoins.co/blog/bitcoin-101/how-buy-bitcoin-cyprus-601