Where and How to Buy Cryptocurrency with Euro (SEPA)
One of the easiest and cheapest ways to buy cryptocurrency is by using a SEPA bank transfer to a zero fee crypto exchange. Today we will tell you how to buy crypto with SEPA in our step-by-step tutorial. SEPA is a European system of banking information exchange. It was designed to make international transfers in euro as cheap as domestic ones. If a crypto exchange accepts euro deposits through a bank transfer, it’s by 99% powered by SEPA. SEPA transfers are normally very cheap starting from 0 euros per a transaction. Therefore, European traders have a big advantage when depositing, however, crypto to euro is not as popular a trading pair so far as the crypto to USD. And here’s why…
Cryptocurrency, at least for beginners, is a complicated topic, the very word “crypto” + “currency” implies something difficult, namely cryptography. Cryptocurrency trading is slowly but firmly getting more mass adoption, but the numbers are still quite modest, at least, based on the UK statistics. However, those of you who are familiar with the evolution of Bitcoin, surely know that it was first spent to buy two pizzas that cost the guy 10,000 Bitcoins. This anecdote goes back to 2010 and was scened in the sunny Florida, USA.
Being the US home to the crypto-movement, it is quite logical that to get into, you would first have to buy Bitcoin with USD. However, as the movement expanded all over the world, more and more cryptocurrency exchanges started offering more fiat currencies or would directly set up their business in their home jurisdictions.
“How to buy cryptocurrencies with SEPA” or “how to buy Bitcoin with euro” — are the questions that our clients often ask the Lykke support service. The funny thing is that it is very easy, but not many people expect it to be so simple and therefore we decided to guide you through the process of buying crypto directly with euro by using the example of XRP (Ripple), one of the most popular cryptocurrencies as of now.
- Download the Lykke cryptocurrency app or enter the web platform;
- Pass the KYC;
- Go to “currencies” and tap on the euro;
- You will now see two options: credit card or bank account;
- Tap on the bank transfer and copy or email yourself the details of your Lykke euro SEPA account;
- Use your bank app to make a normal SEPA transfer to the account number you copied from your Lykke app. At Lykke, users deposit fiat to our cryptocurrency exchange without fees, but your bank may ask for a euro or two though, just like with any other transfer you make in your bank app;
- In a day or two, depending on your bank conditions, you’ll see the transfer in your Lykke Wallet. Now that you have your euros in your Lykke app, tap on the XRP / EUR pair in the list of assets, and select “buy”.
Here you go!
If you prefer an instant solution to buy cryptocurrencies with euro, just use the credit card, it is immediate. We say “cryptocurrencies” because, on Lykke, we have a wide range of assets available in the euro pair, so it’s possible to:
- buy XLM (Stellar) with euro;
- buy EOS with euro, a very successful cryptocurrency project;
- buy SLR with euro, a coin for solar energy;
- buy NEO with euro, as well as GAS, its asset for fees and rewards;
- buy ICX with euro, it’s the token of ICON, a decentralized network of blockchain communities;
- buy TREE with euro, a token that allows you to sponsor planting trees and invest in carbon credits for the health of the planet;
- buy GLX with euro, it is a global payment stablecoin;
- buy DYN with euro…
And, obviously, buy Bitcoin and Ethereum with the euro, too.
The process is completely the same for GBP and CHF, but fewer crypto pairs are available for these currencies. Note that to buy XRP with euro, to buy any crypto with fiat or to exchange any asset to any asset at Lykke, you don’t pay any trading fees. There’s a 0 taker fee and a 0 maker fee, as simple as that.
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