While bitcoin has been around for over a decade, it still isn’t easy to buy bitcoin in Germany. Signing up for an exchange, completing the onboarding procedures, and sending funds to the brokerage account can be cumbersome and takes days.
Fortunately, we have launched Relai, Europe’s easiest bitcoin investing app, to solve this problem.
In this guide, you will learn how to buy bitcoin in Germany within minutes (and without ID verification) using the Relai app.
What is Bitcoin?
Before we jump into how to buy bitcoin with euros, let’s briefly explain what bitcoin actually is.
Bitcoin is a digital currency that operates on a distributed peer-to-peer network that allows anyone across the globe to store, send, and receive money over the internet without the need for a financial intermediary, such as a bank.
In simple terms, bitcoin is money for the internet that allows you to be your own bank.
Regardless of where you are located in the world, you can take part in the Bitcoin network without asking anyone for permission and without having to fill out any forms. All you need is a bitcoin wallet.
Microsoft co-founder, Bill Gates, once described Bitcoin as “a technological tour de force.”
And he is not the only technologist impressed by Bitcoin.
Twitter CEO, Jack Dorsey, stated: “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.”
As Bitcoin continues to grow in adoption, the digital currency has become an increasingly popular investment asset because of its similarities to gold.
Like gold, bitcoin is durable, portable, usable, divisible, and scarce. As a result, bitcoin is often referred to as digital gold, with its mathematically-proven scarcity being a unique selling point to investors.
Moreover, bitcoin acts as a censorship-resistant store of value.
While money held in a bank account can be frozen or “bailed-in” by the bank (as was the case in Cyprus in 2013), funds held in a personal bitcoin wallet can only be accessed by the person that owns the wallet.
For investors concerned about the health of the banking system, this is another compelling reason to hold bitcoin.
Now, let’s look at how you can buy bitcoin in Germany with euros (and without the need for an ID verification process).
How to Buy Bitcoin With Euros
Arguably, the easiest way to buy bitcoin in Germany is to use Relai.
We have started Relai with the aim to build Europe’s easiest bitcoin investment app.
As a result, buying bitcoin in Germany is now incredibly easy. All it takes is three simple steps:
- Download the Relai app (for Android or iOS)
- Choose the amount of bitcoin (BTC) you want to buy
- Make the payment and receive your bitcoin
Let’s look at that process in a bit more detail.
- Access www.relai.ch and download the app onto your smartphone. Relai is available on both iOS and Android.
- Once you have downloaded Relai, set up a passcode, and back up your wallet. You can find your wallet backup in the ‘Settings’ section. (Write down your backup phrase and store it securely. If you lose your phone, you will need the backup phrase to restore your Relai wallet.)
- Next, click on the ‘Buy Bitcoin’ section and put in the euro amount you want to buy bitcoin with. You can start with as little as €10 and acquire as much as €100 worth of BTC on your first purchase. (After your first transaction, you can buy as much as €900 per day!)
- Once you have decided how much bitcoin you want to purchase, click ‘Next’ to view the payment details.
- Finally, input the payment details into your banking app to make the payment to Relai’s brokerage partner Bity. (But don’t forget to add the reference number!)
And that’s it! You will receive your bitcoin in your Relai wallet as soon as the payment settles.