Planning your first crypto investments? If you are living in Europe, you’ve probably heard of SEPA — a cost-efficient and easy way to move funds in Europe, which also comes in useful for buying crypto. SEPA connects your bank account with the crypto exchange account, helping you purchase digital assets with euros quickly and safely.
This guide will walk you through the whole process and pitfalls to make sure your first crypto purchase is successful — whether you decide to buy crypto with SEPA Instant or use a standard option.
SEPA Transfer Explained
SEPA (Single Euro Payment Area) is a system that allows for sending Euros across 30 European countries, being one of the easiest ways to deliver funds into crypto exchanges. SEPA transfer comes in three types:
Direct Debit — ideal for recurring payments like subscriptions or utility bills. You make an agreement with a company that will regularly pull funds from your bank account. Such a payment usually takes 2-3 business days, good for non-urgent, planned transactions. Credit Transfer. This is not an automatic payment but a manual. You enter the recipient’s IBAN and sometimes BIC; funds arrive in one business day. If you initiate the transaction on holidays eve or before the weekend, it may take additional days to process. SEPA Instant — the fastest option. The funds arrive in a matter of seconds, provided that your bank and the recipient’s support SEPA Instant. Such an option is perfect when timing matters.Understanding SEPA types is crucial, for it helps you choose the best route when you plan to buy Bitcoin with Euros.
SEPA Bitcoin Purchase Guide
Follow these steps:
Select a platform that supports SEPA. Choose among peer-to-peer (P2P) platforms that support SEPA funding or centralized exchanges. CEXs are usually easier for beginners, with ready-to-trade BTC/EUR pairs available. P2P platforms allow you to trade directly with other users, giving more flexibility. When you choose among the platforms, consider whether they accept SEPA (and if they accept SEPA Instant), check their cryptocurrency security features, transaction fees, and KYC requirements. Register a new account by entering your data and verifying your identity through the KYC (Know Your Customer) procedure. The standard process usually requires you to provide ID and address. This is a common practice when you register on a regulated platform. Make a deposit. Once verified, you are free to deposit funds using SEPA. Choose SEPA in the deposit section, copy the exchange’s bank information, and the reference code. Go to an online bank app and initiate a SEPA transfer. Double-check when you enter the code. Depending on what SEPA transfer type you have chosen, the funds will arrive in a few minutes or a few days (plus, consider holidays and weekends). Secure your purchase. Once funds arrive, go to the trading section on the exchange and place an order to buy BTC (BTC/EUR pair). For a beginner, a market order type is easiest, as it instantly fills at the current rate. After the purchase, you will see BTC in your wallet. If you were not planning to trade BTC, better move it to a private wallet. Hardware, mobile wallet, and desktop solutions — these cryptocurrency wallets give you full control over your investments, protecting against hacks and downtime (risks of holding crypto on a platform).Transaction Fees, Timing, and Security
Let’s talk fees first. One of the biggest benefits of SEPA transfers is low fees. However, you should always check the platform’s fees (maker, taker fees, withdrawal fees). Even a small percentage can add up, so make sure you plan your expenses ahead.
Security is crucial when it comes to cryptocurrency trading. Make sure you activate 2FA, watch out for phishing emails, and double-check URLs of websites before logging in.
When using the SEPA Instant option, make sure the bank and the exchange support it. Indeed, it takes up to one minute, but if either one does not support the Instant option, you will be using standard SEPA by default, so it will take a few business days. If you are a new user, you will pass the KYC process, which also takes time; consider this too.
To buy Bitcoin in Euros is the smart way to enter the cryptocurrency market for European users. With SEPA, you get speed, security, low costs, and direct access to reliable crypto exchanges. Does not matter if you are just testing the waters or getting ready to make a large investment, SEPA will make it easy and smooth.
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