There are several ways of buying crypto in Switzerland, ranging from ATMS, to stock brokers. Crypto exchanges, however, are one of Switzerland’s most trusted platforms to buy Bitcoin. Many different trading pairs, such as BTC/EUR and BTC/GBP, are offered on varying exchange rates.
Switzerland offers both local and international Bitcoin exchanges. It can be a bit difficult for a beginner to understand the right ways to trade bitcoin safely in Switzerland. It will be easier over time.
Here are some effective tips that can help you can trade bitcoin safely in Switzerland.
Set Up Your Crypto Wallet
Switzerland encourages local and international crypto exchanges. As you lead further in the field and secure exchange, you must understand the field better by following a reliable Crypto News Switzerland resource.
You will also need to consider a crypto wallet for its storage. These are not any ordinary wallets. They are specially designed programs meant to secure your crypto assets.
Everyone dealing with or assuming ownership must consider two types of crypto wallets.
Software Wallet
A software wallet is the easiest for bitcoin owners. It can be easily accessed on any electronic device, such as your cell phone and computer. However, the problems with keeping your crypto assets in software wallets emerge frequently due to hacking attempts.
Hardware Wallet
Although many Bitcoin owners prefer software wallets, most experts recommend hardware wallets. These wallets look like small devices that can be easily accessed without the internet using keys. Unlike software wallets, these wallets cannot be attacked by hackers.
Related: How to Buy Bitcoin in the Dominican Republic
Join An Exchange
The people of Switzerland prefer trading cryptocurrency on exchanges. Therefore, there is no lack of options when you look for the right platform for your needs. However, it can be a bit challenging to choose the right option with so many crypto exchanges operating in the country.
To begin with, you must compare the crypto exchanges on factors such as fees, security, and accessibility. It is best to ensure that you take your business to a well-reputed platform and avoid unregulated exchanges to maximize the security of your crypto assets.
Select A Payment Method
Switzerland comes in sixth place in the list of countries using cryptocurrency. Hence, these exchanges are accommodated through several different options, including PayPal, credit/debit cards, and bank transfers –locally and internationally.
However, it is important to consider your payment methods beforehand. Every payment method has its own pros and cons. For instance, transactions performed on credit/debit cards take less time to come through but may also charge higher fees.
Buy Your BTC
Once you find the right way to deposit funds with a crypto exchange, you can decide on the amount of bitcoin you would like to buy and proceed with purchasing. Whether you opt for the market order or use the limit order, it is important to consider both options carefully.
In case you limit the order to specify a price point, it is important to remember that your Bitcoin will be bought only if its value reaches the estimated price specified by you.
