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How to buy Bitcoin, Ripple or Ethereum
(Update 2022)

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  1. How do I buy Bitcoin?
  2. Where can you buy Bitcoin, Ripple, Ethereum and other cryptocurrencies?
  3. What does a Bitcoin cost?
  4. Bitpanda 2021 - an overview
  5. Buying Coins - What cryptocurrencies can you buy on Bitpanda?
  6. Bitpanda Features
  7. Test & Review Bitpanda
  8. How do I buy bitcoins? A step-by-step guide
  9. Step 1 - Registration
  10. Step 2 - Verification
  11. Step 3 - Transfer money to the Bitpanda EUR account
  12. Step 4 - Buy Bitcoin
  13. What is a wallet?
  14. Why buy bitcoin? The advantages & disadvantages
  15. Should I still buy Bitcoin now?
  16. How to pay Tax on Bitcoin?
  17. Safely store Bitcoin on the Ledger Nano S.

How do I buy Bitcoin?

(Last Update: 01.01.2022)

If you've decided to buy cryptocurrencies, here's how to buy the most common cryptocurrencies BITCOIN, ETHEREUM, RIPPLE, and more.

Like in the years before, interest in Bitcoin, Ethereum and other cryptocurrencies continues to rise (and since 2021 exponentially). But most people don’t know how to acquire Bitcoin, Ethereum, Ripple or other currencies.

We will show you how to acquire these currencies and how to store them permanently on a secure wallet.

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TIP: What is a Hardware Wallet?

A wallet is a digital wallet where your currency purchases are stored. There are online wallets ("hot wallets") like Bitpanda offers, where you can store your units online and have access to them at any time. However, in case of a hack or a failure of the online wallet, you may lose all the units stored on it.

Where can you buy Bitcoin, Ripple, Ethereum and other cryptocurrencies?

There are many ways to acquire virtual currencies.

Bitpanda, an reliable provider from Austria (Europe), has become one of Europe’s most popular service for purchasing cryptocurrencies such as Bitcoin, Ethereum, Ripple & Litecoin.

"Bitpanda is a digital asset service provider registered with the Austrian Financial Market Authority (FMA). Furthermore, Bitpanda holds a PSD2 license."

The popularity of Bitpanda results from the fact that the purchase process is very simple and intuitive. In addition, there are several proven and well-known payment options, ranging from a SEPA credit transfer over payment by credit card to the purchase of deposits (Bitpanda-to-go) at the Austrian Post Office.

Since Bitpanda makes it easy to start acquiring and trading cryptocurrencies, we will show you how to buy crytocurrencies using this service. Creating a Bitpanda account is free and only takes a few minutes.

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What does a Bitcoin cost?

Currently, the price of one bitcoin is 33.611,75 EUR (as of July 28, 09:35 a.m.)

The price of Bitcoin is very volatile and subject to very large fluctuations.

To get the exact price, please check here:

Show current price >>

Buy Wallets Directly & Securely from manufacturer only

Ledger Nano S

Ledger Nano S Hardware WalletBuy now >>

Ledger Nano X

Ledger Nano X Hardware WalletBuy now >>

Ledger Nano Backup Pack

Ledger Nano Backup PackBuy now >>

BITPANDA (2021) - An overview

Bitpanda has given its user interface a complete overhaul - and the result is now even better, simpler and clearer than the original version of Europe's most popular crypto service had been.

In addition, it is now also possible to buy parts of stock shares via Bitpanda.

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Bitpanda Features

  • Europe's most popular, fastest and cheapest trading platform for buying, selling and trading cryptocurrencies
  • Company from Austria
  • Over 2 Million users in Europe
  • Low fees (1.49% charge on purchase and 1.29% on Bitcoin sales)
  • Deposits and withdrawals in EUR, CHF, GBP and USD possible
  • Personal contact list
  • Free shipping of cryptocurrencies between Bitpanda users and any e-mail address
  • Intuitive user interface
  • Various deposit and withdrawal methods (instant transfer, credit card, Neteller, Skrill, Giropay / EPS, voucher, bank transfer / SEPA transfer, Fiat Wallet (deposit to the Bitpanda account)
  • High security (SSL encryption of the website, DDoS protection, cold storage of customer credit, 2-factor authentication)
  • Extensive help desk and very good support
  • Available in english, german, french, spanish, italian, turkish & polish language
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Review Bitpanda

Author: Mag. Tibor Gludovatz
Last update: 03.05.2021
Rating: 5.0

Bitpanda has become one of the most popular platforms for buying and selling cryptocurrencies. The new user interface 2.0 makes the purchase of Bitcoin, Ripple or Ethereum very intuitive and simple and always provides a clear overview of your portfolio and the current price of the respective cryptocurrencies.

The integration of numerous online wallets for the coins currently available has been very successful and the secure transfer to a hardware wallet such as the Ledger Nano S is quick and easy.

The ongoing evolution of the platform, broad support for more and more cryptocurrencies, and low fees make Bitpanda one of the best, if not the best, cryptocurrency service available on the market.


Star fullStar FullStar FullStar FullStar Full


Transaction Fees:

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Mobile usability:

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How do I buy Bitcoin? A step-by-step guide

To make the buying process as easy as possible, here is a step-by-step guide to buy bitcoins on Bitpanda.

To buy Ethereum, Ripple, Litecoin or any other cryptocurrency, you need to take the exact same steps.

Buy Bitcoin now >>Bitpanda homepage

Step 1 - Registration

In the first step, it is necessary to create a user account. Click on Get started (top right) to start this process. For the registration you need an email address.

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Create user account

After entering your data you will receive an e-mail with a link for verification of your e-mail account.

Registrierung abgeschlossen

After clicking this, the new account will be confirmed and created. You can now log in to Bitpanda.

User login

After logging in, you will be shown the Dashboard. The dashboard gives you an overview of your user account, your online wallets and the current status of your portfolio of cryptocurrencies, metals and shares. The current price for one unit of the respective coins is clearly displayed in the chart overview.

Bitpanda Dashboard

Step 2 - Verification

In order to buy and sell cryptocurrencies you need to verify yourself. Just click on the Panda icon in the upper right corner and open the main menu. Then click on Verify now.


Here you enter your data according to the requested information and click Save and continue.

Account verification

2-factor authentication (optional)

To best way to protect your Bitpanda account and its cryptocurrencies against unauthorized access, is to enable 2-factor authentication. You start the setup by clicking Security in the left menu.

2-Factor Authentication

You will need the Google Authenticator app to scan the displayed QR code. Each time you log in, the six-digit 2FA code is required.

2-Factor Authentication

By setting up 2-factor-authentification setup of your accoint is completed and you can deposit money into your Bitpanda EUR (FIAT) account.

Step 3 - Deposit money on the Bitpanda EUR account

Before you can buy a cryptocurrency, it is necessary to transfer money to the EUR account (Fiat Wallet) of the Bitpanda account. To deposit money, click on Deposit in the top menu bar.

EUR deposit on wallet

In the following step you will be asked to select the currency for the deposit. Now select the EUR Wallet or another currency of your choice.

payment methods

Then you have to choose your payment method. In addition to Sofortüberweisung (using your bank account), EPS online bank transfer and a regular bank transfer there is the possibility to pay with credit card (Mastercard or Visa), Neteller, Skrill and GioPay. The different payment methods are subject to different fees - while a bank transfer does not incur costs, but can take longer (2-3 business days), a the usage of Sofortüberweisung costs 1.99% and a deposit by credit card 1.50% of the total payment sum.

Deposit amount

After selecting the payment method, you can specify the desired deposit amount.

By clicking on Go to summary, the transaction will be shown in detail.

Deposit summary

The transaction will be completed by clicking Confirm and activation of the two buttons. The credit is now on the EUR WALLET.

Deposit summary

Step 4 - Buy BITCOIN

Now click on Prices in the Dashboard, and then select Bitcoin. Here you can see the current Bitcoin rate, your Bitcoin wallet (where your Bitcoins are stored) and the current value of your coins in EUR. Furthermore, you can set a price alarm here - if the set value is exceeded or undershot, you will receive a message.

To start buying bitcoin, click on the green button with the plus sign (Buy).

Bitpanda Dashboard

Alternatively, you can start a purchase from the main menu. Click on Trade.

Deposit Fiat EUR

Now you can select the individual handlings. The following options are available:

  • Buy - With this you buy a cryptocurrency or share
  • Sell - With this you sell a cryptocurrency or share
  • Swap - Exchange one cryptocurrency for another
  • Savings plan - Create a savings plan with which you regularly pay in a constant amount.
  • Redeem voucher - Here you can redeem a Bitpanda voucher from Austrian Post (beware - these come with high fees).

Now click on Buy.

Bitcoin acquisition

Now you can choose the cryptocurrency or stock you want to buy.

Pay Bitcoin with EUR

Now you can choose whether you want to use your entire balance to buy Bitcoin or spend only a part of it. At the bottom you will see how many bitcoins you will get for your purchase amount. Set the amount you want to deposit and click .

Total sum

The summary that appears now shows you all the details of the planned purchase of Bitcoin. Activate the button and click Buy Now.

Purchase summary

The purchase will now be completed and you will receive a confirmation.

By clicking on Portfolio - Cryptocurrencies - Bitcoin you will see your Bitcoin wallet with your current balance of Bitcoins.

Bitcoin account balance


TIP: What is a Wallet?

A wallet is a digital purse used to store your currency purchases. There are online wallets ("hot wallets") as offered by Bitpanda, where you can store your units online and have access to them at any time. However, in the event of a hack or failure of the online wallet, you may lose all the units stored on it.An offline wallet ("cold wallet") stores this data offline on its own hardware such as the Ledger Nano S or the Ledger Nano X Wallet. How to transfer your assets to a hardware wallet you can see on the page How to store Bitcoin on the LEDGER NANO S.

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Why buy bitcoin? The advantages & disadvantages

Why should you buy bitcoin in the first place?

Here you will find an overview of the advantages and disadvantages of investing:


  • Simple and technically safe value investment
  • High volatility (for day traders)
  • Decentralized processing
  • Secure payment option
  • Fast payment processing
  • Optimal for cross-border transactions (comparatively low transaction costs)
  • Available everywhere
  • Independent from banks
  • Can be stored online or on a wallet (e.g. Ledger Nano S)


  • Only a few payment options (although more are being added every day)
  • High volatility (for risk-averse investors)
  • Possibly high transaction fees with high network load
  • Mögliche Verbote durch gesetzliche Regulierung (in einigen Ländern)
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Should I still buy bitcoin now?

Is it too late to invest in bitcoin?

This question cannot be answered in general terms, but depends on the respective personal circumstances.

You should clarify the following points BEFORE investing:

  • Educate yourself well about the particular cryptocurrency you want to invest in
  • Keep up to date with news about your cryptocurrencies
  • Choose a secure platform for your purchase (e.g. Bitpanda)
  • Store your cryptocurrencies in a hardware wallet (e.g. the Ledger Nano S or Ledger Nano X)
  • Can you afford it? Do you still have enough reserves in case you lose the money?
  • Bitcoin and cryptocurrencies in general can be subject to high price fluctuations - are you nervously equipped for this stress?
  • How can you tax Bitcoin (e.g. with Cointracking) [click here for our Cointracking review]

Tip To investment thinking

Despite some ups and downs, the Bitcoin price has risen sharply in recent years.

Many new investors think that it only makes sense to buy at the lowest prices and sell at the highest prices - so in the case of Bitcoin, you should have invested 10 years ago and now it's too late.

Here, a different line of thinking should be taken:
The right question is, by how much percent does my investment increase or decrease in a given period of time?

Because even if the most favorable purchase price for Bitcoin is in the past, a percentage increase of an investment is also interesting.

And this can be very high (but also negative) in the case of cryptocurrencies.

What is my investment strategy?

Long term investment

If you want to use your cryptocurrencies as a long-term investment, here are the advantages & disadvantages:


  • If you don't sell cryptocurrencies for more than 1 year, your profits are tax-free (Austria & Germany)
  • You save yourself a lot of stress when observing price fluctuations
  • You save transaction fees
  • You save on bitcoin tax return preparation
  • You sell when it suits you and your life situation and not because the course demands it at the moment.


  • Short-term price gains cannot be realized


In Daytrading you try to buy at the lowest possible price and sell at the best possible price. This is associated with the following advantages & disadvantages:


  • You can realize short-term price gains
  • These price gains can be very high, especially for low-valued cryptocurrencies
  • You can start with a small budget, reinvest the profits and thus continuously expand your portfolio


  • High effort
  • You have to pay tax on your profits when selling under 1 year
  • Transaction fees for buying & selling

Attention - This article is for informational purposes only and is not intended to be a recommendation to trade Bitcoin or any other cryptocurrency.

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How to pay tax on Bitcoin?

Cointracking Test - Tax return for bitcoin and other cryptocurrencies

If you realize profits with cryptocurrencies, it is absolutely necessary to deal with the taxation of these profits.

When preparing a tax return for Bitcoin and other cryptocurrencies, Cointracking will help you.

How it works, what it costs (there is also a free plan) and -10% discount on paid plans can be found in our Cointracking review.

Create Tax Return for Bitcoin >>

Can you buy Bitcoin anonymously?

You can buy Bitcoin anonymously only with restrictions.

Basically, however, the anonymous purchase of Bitcoin is becoming increasingly difficult and the question arises whether an anonymous purchase will make sense at all in the future.

At the latest if you want to trade anonymously acquired Bitcoins on marketplaces, exchanges or exchanges, a registration and often also verification on the corresponding platforms is usually necessary.

Where else can you buy Bitcoin anonymously?

You can purchase Bitcoin tokens at the Austrian Post and numerous tobacconists and gas stations and then redeem them on the corresponding platforms and send them to a wallet.

However, this is associated with very high fees (8-10%), as both the merchant providing the POS infrastructure and the issuer of the receipt earn money from it. If you choose this option, however, you should pay with cash, otherwise you may be charged due to the card payment.

However, the anonymity ends with the necessary transfer of the Bitcoins to a wallet at the latest, as the transaction can be traced back on the blockchain.

Attention - If you do not redeem a Bitcoinbon within 36 months, IT WILL BE FORFEITED.

Advantages and disadvantages of anonymous bitcoin purchase


  • Anonymous purchase and possession of bitcoins


  • Amount limit per voucher redemption (approx. 250 EUR)
  • Very high fees (8-10%)
  • Anonymous trading hardly possible
  • Bitcoinbon can be lost
  • Sale only from 18 years (in doubt against ID presentation - thus not 100% anonymous)
  • Bitcoinbon EXPIRES AFTER 36 MONTHS without redemption
  • No replacement in case of loss

What is the alternative to buying bitcoin anonymously?

You can purchase Bitcoin quickly, easily & securely via online platforms like Bitpanda.

You can find the step-by-step instructions here: How to buy Bitcoin, Ripple or Ethereum (Update 2021)

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Store Bitcoin on Ledger Nano S

You have now bought your first BITCOINS and these are now on your Online Wallet at Bitpanda.

But your Bitcoins are not the safest online, but on a Hardware Wallet.

The best-selling hardware wallet at the moment is the Ledger Nano S.

How to save your bitcoins and other cryptocurrencies safely on a hardware wallet is shown here.

Store Bitcoin on Ledger Nano S >>

Buy Wallets Directly & Securely from manufacturer only

Ledger Nano S

Ledger Nano S Hardware WalletBuy now >>

Ledger Nano X

Ledger Nano X Hardware WalletBuy now >>

Ledger Nano Backup Pack

Ledger Nano Backup PackBuy now >>
Author: Mag. Tibor Gludovatz
Publisher: Bitcoin Kaufen - Online!
Last Update: 01.01.2022