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Unless you’ve been living on the Blasket Islands, you will have heard about Bitcoin or, more recently, about NFTs. Most will dismiss all the hype and call it a bubble. However, if you’re reading this, I assume you’re at the beginning of going down the Crypto rabbit hole and wondering how you can buy Bitcoin in Ireland.
We have put together 5 of the most popular and trusted crypto exchanges in Ireland to buy Bitcoin. Buying Bitcoin in Ireland in 2024 is a breeze compared to when I tried to buy it in 2013. Even during the 2017 bull run, my 80-year-old grandad got in on the action and bought Bitcoin on Coinbase. Unfortunately, the bull run ended, and so did his hopes of becoming Tipperary’s first Bitcoin millionaire.
5 Best Exchanges to Buy Bitcoin in Ireland
We have compiled a list of trusted cryptocurrency exchanges where you can buy Bitcoin in Ireland and alt-coin (including Ethereum, Cardano, ChainLink, etc.).
If you’re interested in a particular exchange and want to learn more, our site, everybithelps.io and our YouTube channel, Every Bit Helps, offer lots of articles and tutorials.
So, don’t let the tech get in the way of you getting started. It can be complicated, but take one step at a time.
1. Coinbase
Coinbase is one of the most popular and trusted cryptocurrency platforms for buying Bitcoin in Ireland. However, being the most popular exchange does come with its downfalls (i.e. customer support). If something goes wrong or you have questions, check out Coinbase FAQs. But if you need to message support, you could wait a while for a response. Unfortunately, this isn’t just limited to Coinbase, as crypto platforms are notorious for having lousy customer support.
However, you might be lucky, as Coinbase’s EU headquarters are based in Ireland. So, if they don’t respond, you could say, “Hi!”
Coinbase is a US-based exchange and went public on the Nasdaq in March 2021. If you want to buy Bitcoin or Ethereum, you will be fine using Coinbase or their more advanced platform, Coinbase Advanced. But if you want to be more speculative and buy a cryptocurrency with a smaller market cap, you will need to look for alternatives such as Binance Exchange.
When signing up to Coinbase, you’ll receive $10 of free Bitcoin using this link and by depositing $100 (or the equivalent in euros). They also have a feature called Coinbase Earn, where you will earn free crypto by learning and answering a few simple questions.
As someone new to crypto, Coinbase is great; don’t buy with a credit card (where fees are very high) and don’t leave your crypto on the exchange. An exchange is far more likely to be hacked, so keep your Bitcoin offline and in a wallet, ideally with access to your private keys. Coinbase has its own Coinbase Wallet, a free mobile wallet that is available to download from Apple´s App Store or Google Play store.
2. Binance
So, Bitcoin and Ethereum returns aren’t good enough, and you want that Lambo money? Well, Binance Exchange has a vast selection of crypto assets. Plus, their transaction fees are even lower compared to Coinbase and Gemini. However, withdrawal fees can vary depending on the cryptocurrency you want to withdraw.
Binance is the largest cryptocurrency exchange in the world. It was founded in 2017 by Changpeng Zhao. However, Binance is more than just an exchange to trade digital currencies. Binance allows you to stake crypto assets to earn interest, offers loans against crypto, and mines rewards through their pools. Plus, they provide leverage trading, although I recommend avoiding leverage, especially when you’re a beginner.
Although Binance doesn’t offer sign-up bonuses, you can earn a 20% discount when using Binance exchange. Check out our post on how to save up to 40% on Binance trading fees.
3. eToro
eToro is a little different from the other platforms I have mentioned. You can trade Bitcoin, as well as stocks, CFDs, and commodities, so it’s more of a traditional trading platform. One of the downfalls when trading cryptocurrency on eToro is the spread.
Once purchased, you can transfer your crypto assets to your eToro wallet. However, to do this, you must send your initial funds via a bank transfer. If you deposit into your eToro account via debit or credit card, you must wait 180 days to transfer your crypto from the platform.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. Revolut
Revolut is a popular banking app in Ireland and is excellent for use abroad to save on international transaction fees. I’m sure you have seen the cryptocurrency pop-up asking you to invest, but should you?
I didn’t even want to put Revolut on this list, but I had to. So that I can tell you NOT to use Revolut to buy Bitcoin or cryptocurrency. When buying crypto on Revolut, you have no control over your assets; they’re stuck, as you can’t withdraw them to an external wallet. So what’s the point?
Plus, the fees are super high, even when compared to Coinbase. They are 2.5% for Standard users and 1.5% for Premium and Metal users. Anyway, let’s move on.
7. Gemini
Did you watch the film Social Network? Remember the twins who had the Facebook concept before Mark Zuckerberg stole their idea? Well, Tyler and Cameron Winklevoss did okay. After rowing for Team USA at the London 2012 Olympics, they bought some Bitcoin (well, more than “some”) and are now billionaires who went on to create Gemini Exchange.
Again, Gemini is similar to Coinbase. It is regulated in the US and has a limited selection of cryptos. Plus, they also have a $10 sign-up offer through this link.
One of the main advantages of using Gemini over Coinbase is their lower fees. Gemini’s trading fees start from 0.35%, compared to Coinbase’s 0.5%. It may only be fractional, but those fees really do add up. Plus, to withdraw crypto from Gemini, users are given 10 free withdrawals per month.
Beginners Guide to Crypto Investing in Ireland
In this video, The Learning Report run through the basics of cryptocurrency investing in Ireland. This includes where to buy crypto, what platforms to use, crypto taxes, how much to invest, basic strategy tips, and more.
Conclusion
These are a few options available for buying Bitcoin in Ireland. I would recommend Kraken and UniSwap decentralized exchange (only for Ethereum ERC20-based tokens) for the other exchanges.
Again, as I said, don’t let the tech put you off. Get the ball rolling; maybe consider buying a few Euros of Bitcoin or Ethereum to get your feet wet. If you have any questions, please feel free to put them in the comments below.
Please Note: Some of the links in this article are affiliates; they won’t cost you anything to use but will support this website and YouTube channel Every Bit Helps.
FAQs
Do you have to pay tax on Bitcoin in Ireland?
Bitcoin and cryptocurrencies are treated like any other investment. Any profits from buying or exchanging crypto will result in a Capital Gain Tax (CGT). CGT is currently charged at 33%, but the first €1,270 profit a year is exempt. Please consult
a financial adviser or tax expert if you have any tax queries.
Is Bitcoin legal in Ireland?
Currently, no laws or regulations exist against holding, buying, or selling Bitcoin and other cryptocurrencies in Ireland. However, with the continued growth of crypto, governments and central banks will eventually look to put regulations and restrictions in place.
Is Bitcoin legal tender in Ireland?
Bitcoin and other cryptocurrencies do not have legal tender status and are not guaranteed or regulated by the Central Bank of Ireland or any other central bank in the EU.
Where is the best place to buy Bitcoin in Ireland?
If you´re new to Bitcoin and crypto, I would consider Coinbase, which is a beginner-friendly platform and one of the most accessible places to get started. However, its convenience does come at a cost, with some of the highest transaction fees.
