How To Exchange Euros For Bitcoins

You can exchange euros (or other legal tender currencies such as the dollar) in bitcoins (or other cryptocurrencies) using the exchange websites. These websites make available to their registered users a platform through which it is possible to buy/sell bitcoins ( at market price) by other users, even face-to-face, in exchange for legal currencies such as euros or dollars. Registration as a new user is a bit slow, but reliable and transactions are guaranteed (in almost all sites) by many services, which avoids scams to the detriment of both the seller and the buyer.

Remember that the market price of bitcoin varies from minute to minute, so wait until it drops as much as possible before buying them. If you sell them instead, be careful not to always leave your email address to any individual who seems interested in the purchase of your BTC. Not all users accept your refusal to negotiate a discount on the set price, becoming insistent and rude.

As for the security chapter, identity checks on registered users are not enough to guarantee the correct protection of your BTC. Although these sites are widely used and frequented by thousands of users all over the world, they do not always clearly publish names, surnames, and residences of the offices. In other cases, they operate in total anonymity. This does not mean a lack of security, but if the site fails or is pierced by professional hackers, you may lose all or part of your BTC. If this happens, you have no figure to turn to claim your rights.

For example, in 2014, the popular Japanese exchange platform Mt Gox was punctured by hackers who had identified a flaw in how transactions between registered users took place. This caused the Japanese giant Mt Gox to lose 744,408 bitcoins, equivalent to 350 million dollars. Founder Mark Karpeles had to go bankrupt and was arrested.

Another unfortunate happened to the Market Master App exchange platform, where some registered users saw some BTC disappear from their account. After checking the actual shortage, the Market Master App service simply replied that the system was and is solid and does not present any type of flaw; the incident is the cause of hacker attacks on individuals and not on the Market Master App system.

If you have found a foreign exchange site that you would like to use but you are not sure of its reliability, you can ask for advice and opinions from expert people and surf.

Bitcoin exchange euro list

Regardless of whether you live in Italy or anywhere else in the world, below is the list of the most popular exchange sites to exchange bitcoins with other legal and virtual currency, cryptocurrency, and vice versa.

You may already know this, but almost all exchange sites act as a wallet. In the sense that to buy and sell various currencies and trading, you must first deposit your money in the account of the exchange site; after depositing them, you can do any type of operation. It should be emphasized that in most cases (except for restrictions relating to the country of residence), it is allowed to make deposits and withdrawals with more than one currency.

There are other exchange sites, which do not act as a wallet, and the payment is directly processed with the instrument you have selected. In this case, in the Deposit methods and Withdrawal methods column, there are listed all the payment instruments that you can use in the case of buying and/or selling bitcoins, other cryptocurrencies, virtual or legal currencies.

Face-to-face exchange

There are some exchange platforms like Market Master App that allow you to find the seller or buyer closest to your area of interest for a face-to-face meeting and make the transaction while you are facing each other. In this case, the recommendations for both are:

  • meet in a public place (e.g., at a table inside a bar)
  • Take your Smartphone, tablet, or laptop with you through which you can access the bitcoin wallet. Assuming that you are the seller, and you are sitting in front of the buyer (who has the money in hand) with your Smartphone, log into your wallet and send him the BTC. He, with his Smartphone, verifies that he has received them and gives you the money in cash.

In conclusion, use the exchange sites only to make currency exchanges and not to store your BTC. When you have completed the “exchange,” withdraw your savings immediately through your bank account or wallet for BTC.

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