How and Where to Buy Bitcoin & Crypto in Switzerland | 2022 Guide | CryptoWallet.com

How and Where to Buy Bitcoin & Crypto in Switzerland | 2022 Guide

Switzerland has long been the global centre of the banking industry, with many people globally having Swiss bank accounts. Recently, due to the introduction of crypto, the idea of money going through online services has been increasingly adopted. Even recently, there has been an increase in the number of bitcoin teller machines to attract investors at a fast rate.

How to Buy Crypto in Switzerland

Buying crypto in Switzerland is as simple as registering for an exchange, sending funds to your exchange, and using those funds to buy crypto. Some exchanges even allow you to buy crypto with a credit card or debit card, although usually at a slightly higher rate. Let’s take a look at some need-to-know information around crypto in Switzerland before getting into our list of best crypto exchanges in Switzerland.

Process of Buying Bitcoin in Switzerland

While it is true that Switzerland has some rules and regulations towards crypto mining, purchasing crypto, however, such as bitcoin, is perfectly safe, legal, and easy. So in this section, we will take you through a brief walkthrough of how you can buy some of your very own bitcoin and what to expect from the process.

So firstly you’re going to have to choose a platform and means of payment that suits you. Thankfully we’ve provided you with a list of vendors for you to take a look at, to help you find the best provider for you. But for now, we will be using CryptoWallet.com for our example.

Firstly download our app to your devices via the Apple App or Google Play Store. Once downloaded, follow the on-screen instructions for registration. This will include providing KYC information, the confirmation of your identity, and some security protocols. Then link an existing fiat banking account to the app, and send some funds to your new CryptoWallet.com account.

Then navigate over to the trading tab, select bitcoin, the amount you wish to purchase, and select ‘trade.’ You will then have your very own bitcoin.

Swiss Law Reforms Make Crypto Respectable

Although not publicly stated, many people in Switzerland believed that crypto and Bitcoin were illegal and criminal activities. However, in September 2020, the Senate reformed the law guiding crypto assets.

Accepting crypto assets as legal, financial assets have created a path for faster crypto growth in Switzerland. Crypto exchanges are considered legal entities, and their trading activity is authorized. This parliamentary move has opened Switzerland to fast crypto growth and increase crypto respect in the country.

How to Choose the Best Cryptocurrency Exchange in Switzerland

When considering the right exchange for investing in, there are several factors you must keep into account. For instance, you must consider the range of payment methods supported in the platform, including bank transfers and many more for Bitcoin purchases. 

You should also look into the current market conditions and market liquidity of the exchange platforms. Other Popular exchanges have digital wallets they support, and some offer custodial wallets. The exchange you choose should be in strict adherence to the Swiss Anti-Money laundering requirements. 

Here are the Best Exchanges to Buy Crypto in Switzerland

2 Coinbase

Coinbase is currently the most trustworthy and highly reputable platform for exchange activities. This platform offers a wide range of digital currencies, including bitcoin, ethereum, Ripple, bitcoin cash, etc. The fiat assets supported include EUR and USD. Coinbase supports several payment methods, including bank account transfers, debit cards, wire transfers, and Paypal.

This platform is highly user-friendly, offering services at adjusting fee rates. For instance, the lowest maker and taker fees are 0% and 0.04%, respectively, for transactions above $500 million. Coinbase has multiple verifications, including identity verification.

3 Bitmax

Bitmax is a centralized crypto trading platform offering a range of crypto trading services, including margin, spot, copy, and futures trading. This platform was just recently renamed Ascendex in a mission to become an even bigger exchange. It supports multiple assets, including the top bitcoin and bitcoin cash.

Ascendex accepts bank card payments and over-the-counter trades. The transaction fees in Bitmax depend on the traded pair, with the platform offering 0.2% for UAT/USDT and 0.5% for ASDP(BTMXP)/USDT pair. The dashboard is user-friendly; thus, primarily, the platform is easy to use. There are strict identity verification policies instituted, and you have to produce an ID.

4 Lykke

Lykke is a crypto exchange platform providing excellent trading services for several crypto assets, including BTC and ETH. Lykke supports fiat currencies like CHF, GBP, or EUR.

The platform has a complicated dashboard; thus, it could be suitable for more experienced traders. The fees charged depend on the choice of asset traded. Moreover, this platform accepts several payment methods, including wire transfers and card payments.

5 Bitcoin Suisse

Launched in 2013, Bitcoin Suisse is a Swiss crypto trading network that has helped nurture the Blockchain world in Switzerland. The platform adheres strictly to AML and KYC laws and has a great reputation for protecting its clients. Bitcoin Suisse supports over 37 crypto assets and at least three fiat assets, including USD, CHF, and EUR.

The platform has a proof of ownership verification technique that focuses on authenticating that helps ensure a wallet is owned by the user. The fee charged by the platform stands at 1.25% and an additional 0.5% for assets not present in popular exchanges. Currently, the platform offers bank transfers as payment methods.

6 Binance

The Binance exchange is currently the biggest crypto exchange offering services and various payment methods, including credit card purchases and online bank transfers. This platform has a highly intuitive and user-friendly interface. Binance implants intensive verification procedures for proof of identity measures using ID, driving license, etc.

Binance offers transactions at fair transaction fees as a virtual currency platform, with the average maker and taker fee standing at 0.1%. Binance supports over 250 crypto assets, including bitcoin, Ethereum, Bitcoin Cash, Ripple, and several fiat currencies. Binance has a high reputation but has in the past faced bans in the US for illegal trades.

7 Bitpanda

The platform has a reliable user interface and offers trades at average transaction fees of 1.49%. Bitpanda has a long verification procedure that could last up to 2 hours since it’s manually reviewed.

Bitpanda is another one of the best crypto trading platforms availing its services to users in Switzerland. Currently, Bitpanda supports over 25 crypto assets and four fiat currencies. This platform supports several payment options: Debit cards, Credit cards, Skrill cash, Bank transfers, and SEPA.

8 Coinmama

Coinmama is another one of the best exchange platforms in crypto today, offering its services at a user-friendly platform. Although its services are user-friendly, Coinmama has provided services at very high services, an average of 5.5%. When it comes to reputation, Coinmama has a long-term reputation for providing excellent services for its users.

Coinmama has 2-step verification, with level 1 involving identity authentication and level 2 requiring proof of identity and residence. This platform offers a wide range of payment methods, including Visa and MasterCard payments. Moreover, Coinmama offers payments in JYP, EUR, USD, GBP, AUD, and CAD.

9 LocalBitcoins

LocalBitcoins is a bitcoin exchange network offering services in a highly decentralized manner; by leveraging peer-to-peer exchanges. It offers an escrow service for investors as protection from scams. Fees are charged to sellers and buyers advertising on the platform.

LocalBitcoins is a highly reputable platform providing services in many countries globally. Recently, the platform introduced verification procedures to protect users. Localbitcoins supports tons of payment methods, including mobile payment opportunities.

10 CoinCorner

CoinCorner is a Bitcoin exchange platform established in 2014, introduced to provide bitcoin exchange services to users. This platform currently supports over 3 of the top crypto assets, including Bitcoin, Ethereum, Litecoin, and two fiat assets, including EURO. The reputation of the platform is bad based on seven reviews.

The payment methods supported in this platform include credit and debit cards and bank transfers. The fees charged range from 3% to 10%, all depending on the trade size. Among the payment methods involved with CoinCorner include SEPA, Debit/Credit cards, Bank transfer, and Neteller deposits. There are both proofs of identity and proof of residence.

11 Bitnuk

Bitnuk is another great swiss based crypto exchange platform allowing users to buy and exchange and transfer fiat currency like EURO and crypto like BTC. The platform’s user interface is highly friendly, displaying the services easily on the platform.

Bitnuk has multiple fiat payment methods, including Sepa, wire transfer, and credit card. The fees in the platform average at 0.5% and 5.5% for credit card payments. As a Swiss-based trading platform, you will be required to prove your identity and ID verification, and the platform has a high reputation in Switzerland.

12 Swiss Cryptocurrency Exchange

Swiss-cryptocurrency exchange is a crypto trading platform based in Switzerland offering crypto exchanges for bitcoin and Ethereum. This platform offers services in a highly user-friendly dashboard, displaying all its services easily.

The exchange network has a lot of negative reviews. Generally, there is very little verifiable information on this platform, therefore to understand their services, you need to DYOR.

13 HodlHodl

HodlHodl is another one of the most reliable crypto exchange platforms providing crypto exchange services in Switzerland. HodlHodl provides escrow services as an option for protecting its investors from any possible scams. Currently, the platform provides trades at fair prices, with an average transaction fee of 0.3%.

The HodlHodl network has a user-friendly interface allowing trades to complete trades very fast. To apply for verification, users are asked to send [email protected]. HodlHodl also allows persons to use Bitcoin as a crypto asset and EUR in fiat. The platform supports multiple payment methods, including Sepa, Skrill, Paypal, and many more.

Switzerland Crypto Exchange FAQs

Is Cryptocurrency legal in Switzerland?

Cryptocurrency is legal in Switzerland. Recently the Senate passed a bill on regulating crypto while still recognizing it as an alternative to traditional finance.

Where is the best place to buy crypto?

The best place to buy bitcoin and its asset classes are the AML compliant platforms. You can find an AML compliant wallet with the best exchange services for a wide variety of crypto assets here.

Is there a Bitcoin machine in Switzerland?

Yes, there are several bitcoin ATM installations in Switzerland. All these adhere to the required privacy and regulation policies and are very easy to use.

Which Crypto wallet does Switzerland use?

Cryptowallet.com is the best wallet for a buy-and-sell transaction in Switzerland. Unlike an exchange wallet, cryptowallet.com offers top security and protects your assets vastly.

What is the Best Cryptocurrency to invest in 2022?

There are many investment options as it stands today. While we can’t offer investment advice, we do offer five popular, high-cap cryptocurrencies that many others view as solid investments, and you can buy these cryptos via our mobile exchange.

Bitcoin Wallet App

To send Bitcoin, you simply need to copy the address or public key you’re sending money to and paste it into the recipient section.

This process is guided with on-screen instructions.

To open a Bitcoin wallet, simply download the app for Android or iOS below!

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