Learn how to buy and sell bitcoin in Ireland, a guide to buying and selling bitcoin in Ireland for complete beginners
Bitcoin is a digital currency invented in 2009 by an unknown person using the alias Satoshi Nakamoto. In mid-December 2017, the price of 1 bitcoin (BTC) reached a new all-time high of $19,783.06 but then tumbled rapidly, falling to below $12,000 within days.
If you had bought €82 worth of Bitcoin in Dec 2011, You would have made €2,896,833 in profit, that’s over 3,530,700% ROI. This guide is for you if you want to buy, sell and store bitcoin in order to avoid the risk of losing your entire investment.
Where to buy bitcoin in Ireland
When it comes to buying bitcoin in Ireland, there are few secured options available. You can choose to buy on a peer to peer marketplace or from exchanges.
Let's take a look at the few options available.
Paxful is a peer to peer marketplace where you can buy and sell Bitcoin along with other cryptocurrencies. Paxful provides over 300 payment method of which includes Paypal, Bank Transfer, debit and credit card.
On Paxful the Seller of bitcoins pays a 1% fee. The buyer of bitcoins does not pay any fee at all. The buyer does, however, pay a fee to the seller for converting their Cash, gift card or PayPal money etc… into bitcoin. Each seller has a different price so it is up to you to select the best one.
The Paxful escrow system protects you by holding the seller’s bitcoins in escrow. When payment is completed the bitcoins are released to your wallet.
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency and it’s currently available in 32 counties. Its one of the easiest way to buy and sell Bitcoin, Ethereum & Litecoin In Ireland. Payment method available are deposit, Bank Account(SEPA transfer) and debit/credit card.
Founded in June 2012 and based in San Francisco, Coinbase is one of the world’s largest Bitcoin exchange and backed by trusted Investors.Coinbase offers an exchange and a digital wallet to store your cryptocurrency.
3. Local Bitcoins
Started in 2012 and based in Finland, Localbitcoins is no 1 peer to peer marketplace to buy and sell bitcoin. People in Ireland (and other countries) can exchange Euros for bitcoins and provides lots of payment options to chose from.
The site allows users to post adverts where they state the exchange rate and the payment methods for buying or selling bitcoins. You reply to these advertisements and agree to meet the person to buy bitcoins with cash, or trade directly using online banking. Bitcoins are placed in a localbitcoins web wallet from where you can pay your bitcoin purchases directly.