Buying cryptocurrency in Switzerland is currently becoming one of the most profitable options. That is precisely why cryptocurrencies are seen as a very attractive business in the country right now. In this guide, we explain everything you need to know about cryptocurrencies and how to trade them in Switzerland.
Should You Buy Cryptocurrency in Switzerland Now in November?
Simply put, you need to define your investment plan before buying any cryptocurrency. Crypto prices change all the time, and knowing how to take advantage of that can make you an investor with a lot to gain. You also need to consider how important the broker you buy your crypto with is. Even though many brokers now offer cryptocurrencies, the offers and services of Vantage and AvaTrade are very attractive. Choose carefully, because the profits you make from buying a cryptocurrency depend largely on your broker.
On related topics, our articles “Anonymously” and “Without Verification” are a useful complement to this one.
Where to Buy Bitcoin in Switzerland?
First of all, Bitcoin is the most popular cryptocurrency in Switzerland. There are several ways to buy Bitcoin in Switzerland. In this section, we list a few of them to help you find the one that suits you best.
- Buy Bitcoin with eToro and AvaTrade
The most convenient and fastest way to get cryptocurrency in Switzerland is to buy it directly from a reliable online broker. As we have just seen, the online broker AvaTrade is available in the country, so you can choose it to trade cryptocurrencies. Other reliable and secure brokers are also available for buying Bitcoin, for example Vantage. It also offers very attractive services such as ease of use, copy trading with very low transaction fees, and much more.
- On a crypto exchange
There are many cryptocurrency exchanges. However, some of them will ask you for proof of residence and a copy of your ID before giving you access to all buying and selling operations.
- On Swissquote
Swissquote is a trading platform that has only recently started offering Bitcoin. This method still lags far behind the first two, especially buying through an online broker.
Bitcoin Exchanges Available in Switzerland
First, we would like to point out that it is always better to buy directly through a reliable, reputable broker. The advantages are numerous. Buying Bitcoin through an exchange, on the other hand, exposes you to a major risk: if the service shuts down, which is entirely possible, you lose all your Bitcoin. Just like a bank, everything rests on trust. But if you are really interested in buying Bitcoin on an exchange, here are some that are available in Switzerland:
- Changelly
- Cex.io
- Coinbase
- LocalBitcoins
- Kraken
Once again, we encourage you to sign up with a reliable online broker such as Vantage, AvaTrade or Raise FX. Besides making things easier, this gives you access to many additional benefits.
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If cryptocurrencies now attract the attention of most investors, it is because they offer an exceptional number of advantages. Here are a few of them to give you confidence as you start investing:
- Cryptocurrency volatility
Although they are a fairly new asset on the financial markets, cryptocurrency prices are highly volatile because of strong short-term investor enthusiasm. New technologies further increase the speculative appeal of cryptocurrencies. This volatility makes the crypto market very exciting.
- Cryptocurrency trading hours
The cryptocurrency market has no centralized governance, which means it is open 24/7. Individuals trade directly with each other on exchanges found all over the world.
- Better liquidity
The cryptocurrency market is generally considered illiquid, since transactions can take place on many different exchanges. However, with online brokers such as eToro or Vantage, you can benefit from better crypto liquidity, as they get the best prices by using data from several exchanges.
- The ability to go long or short
Buying a cryptocurrency means buying the asset cheaply in the hope that it will gain value in the future. But with crypto price trading, you can profit from both rising and falling markets, by taking a long or a short position respectively.
Buying Cryptocurrency in Switzerland: What Are the Drawbacks?
- Risk of outages
There are periods when the market is unavailable because it is adapting to infrastructure upgrades or forks. Get familiar with these risks before you start investing.
- No regulation
So far, governments and central banks do not yet recognize the value of cryptocurrencies, even though they have recently started to attract attention. For now, it is still unclear whether they should be classified as commodities or virtual currencies.
- Hacking risk
This is one of the biggest risks of buying cryptocurrencies. They are exposed to errors and hacks, and it is still very difficult to fix these errors and technical problems.
Conclusion: Where to Buy Cryptocurrency in Switzerland?
Switzerland is now called a “crypto nation” because it is the country where cryptocurrencies are traded the most. Although there are several ways to buy and get cryptocurrencies, the simplest and safest is still to buy through online brokers. To do so, you need to weigh the pros and cons of each broker. Throughout this article, we have recommended Vantage and AvaTrade because they are reliable, well-regulated brokers offering a wide range of cryptocurrencies. Raise FX is also a very good alternative.