Looking for the best Dutch Bitcoin exchanges in 2020? This exclusive guide will help you pick one of the best Bitcoin exchanges in the Netherlands to do business with.
July 28 2020 | AtoZ Markets – Bitcoin (BTC) is gaining momentum faster than anybody initially thought. People around the globe have already started talking about it, and thanks to many new startups, even non-technical people are able to purchase Bitcoin these days.
If you search for “Best Bitcoin exchange in Netherlands“, you be overwhelmed with the many options available.
However, in this extensive guide, we will help you pick the top 5 Dutch Bitcoin exchanges in 2020 to do business with.
While some of the top cryptocurrency exchanges are not based in the Netherlands, you can pick the one that best suits your needs. If you have no experience with cryptocurrencies (even if you have prior experience with forex, stocks or futures) you would be well-advised to learn how to trade cryptocurrency like a pro before you open an account with an exchange.
Your success as a trader typically depends on your trading skills, including how you deal with the inherent volatility of digital assets.
That said, what key factors should you consider when determining the best Bitcoin exchange for you?
What Makes the best Bitcoin exchange in Netherlands?
Before placing your first order, do a little research on the different Dutch Bitcoin exchanges. The important factors we’ve mentioned below can help you find the best Bitcoin exchange in the Netherlands.
Reputation is one of the most important factors to consider when choosing a Dutch Bitcoin exchange. To research a cryptocurrency exchange’s reputation, visit trusted industry websites, and read reviews.
You can also go to cryptocurrency forums such as Bitcointalk and find out what other traders have experienced. Has the exchange suffered a hack attack? If yes, what action or inaction has been taken on behalf of clients who may have been hacked?
Moreover, an exchange that does not insure or segregate client funds could subject your money to theft. If you choose to leave your coins or other digital assets in exchange, make sure that the exchange has a reliable “cold storage” facility to reduce the likelihood of hacking.
Read also: How to Identify a Reliable Bitcoin Wallet?
Trading fees & payment methods
To avoid unpleasant surprises after you’ve started to make transactions, be aware of all the fees the exchange charges. Fees can vary considerably depending on what exchange you use.
Does the exchange let you fund purchases with a credit or debit card? Can you PayPal them the money or would you have to pay for a bank wire transfer instead? Some exchanges do not accept national currencies and only accept other cryptocurrencies to fund an account. An exchange with limited payment options could make cryptocurrency purchases quite inconvenient.
Generally, exchanges that accept credit cards require identity verification and charge higher fees due to the higher risk of fraud or theft. They may also charge higher processing and transaction fees. In addition, purchases made through wire transfers can take considerably longer to process.
Almost all crypto exchanges require some form of ID verification in order to make deposits and withdrawals. Nevertheless, some exchanges do allow you to remain anonymous, so check with the exchange if anonymity matters to you.
Exchange ID verification can often take up to several days, but it helps weed out money launderers, fraudsters, and other scammers.
Different exchanges can offer varying rates of exchange for cryptocurrencies quoted in national currencies, as well as wider or narrower bid offer spreads. Before you open an account, inquire about the prospective exchange’s dealing spreads.
Exchange rates have also been known to fluctuate widely in fast markets, with the actual volatility observed depending on the currency and cryptocurrency involved. Below, we’ve rounded up three of the most popular exchanges based in the U.K.
5 Best Dutch Bitcoin exchanges in 2020
So without further ado, let’s look at the five best Dutch Bitcoin trading platforms to help you buy and/or sell Bitcoin.
Here are some of the best & most reliable options:
Coinbase is the world’s largest Bitcoin exchange. This Bitcoin trading platform has earned it’s place as the best Bitcoin exchange in the Netherlands. They represent an easy and fast way for new users to purchase bitcoins. Coinbase supports customers in over 30 countries, including the United States, Europe (besides Germany), UK, Singapore, Canada, and Australia.
Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.
We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms.
|High liquidity and buying limits||Purchases made with bank transfer can take up to 5 days to complete|
|Easy way for newcomers to get bitcoins||Coinbase may track how and where you spend your bitcoins|
|“Instant Buy” option available with debit card|
LocalBitcoins.com is a person-to-person cryptocurrency trading site that networks buyers and sellers from different countries to trade bitcoins or other cryptocurrencies against the local currency.
The website allows clients to post advertisements stating the exchange rate and payment methods. People reply to the advertisements and agree to meet with the counter-party to transact cryptocurrencies versus cash or to trade them directly via online banking accounts.
The cryptocurrency seller then places it into the Localbitcoins.com wallet where the buyer can pay directly for it with the national currency. Localbitcoins.com differs from centralized exchanges in that its exchange is decentralized and requires you to deal directly with another person. Consequently, the process saves on corporate overhead, thereby making buying and selling cryptocurrencies extremely efficient.
You receive your cryptocurrency immediately, with just about every financial payment method in the user community accepted by the exchange. Also, Localbitcoins.com offers a transaction escrow service to protect buyers and sellers.
The process of opening an account and buying cryptocurrencies usually takes only a few minutes, from the time a user account is created to the cryptocurrency is received in your wallet.
|Can be private, fast and easy||Harder to buy large amounts of bitcoins compared to large exchanges|
|In-person trades require no personal information||Slightly to significantly higher prices than regular exchanges; premium for higher privacy|
|Purchases of bitcoin can be made quickly via cash deposit|
Bitonic was established in 2012 and is the most popular Bitcoin exchange domiciled in the Netherlands. Their offices are conveniently located in Baarn and Amsterdam. Bitonic offers a fast and easy way to buy bitcoins via iDEAL, Bancontact, Giropay, or Mybank. You can also make deposits into your Bitonic BL3P exchange account via the bunq app, iDEAL, or SEPA transfer.
|First and highly-trusted Bitcoin service in the Netherlands||Brokerage fees not publically stated; included in the price at checkout|
|Super fast delivery of bitcoins||Semi-private brokering service; bank account verification required but TOR connections allowed|
|Low trading fees fee|
|Promises fast deposits and withdrawals|
Bitstamp is a Bitcoin exchange based in Europe. It was founded in 2011 and is one of the first generation Bitcoin exchanges that has built up a loyal customer base. Bitstamp is well known and trusted throughout the Bitcoin community as a safe trading platform. You can also buy bitcoins using your credit or debit card.
Bitstamp. however, is best for traders who are looking for an advanced exchange for buying/selling bitcoins to make a profit.
|Good reputation||Not beginner-friendly|
|High-level security||Limited payment methods|
|Robust trading platform|
|Recommended for large transactions|
|Low trading fees|
Bitpanda, called by some the Coinbase of Europe, was established in 2014 in Vienna, Austria with the purpose of providing a cryptocurrency trading platform. The exchange sells Bitcoin, Ethereum, and more for Euros, US Dollars, British Pounds, and Swiss Francs.
Similar to Coinbase, Bitpanda has a very simple user interface, making it easy for beginners to successfully purchase in cryptocurrency.
The exchange has several payment methods such as bank transfers, credit cards, debit cards, Skrill, Neteller, and more. Depending on which method is used, there may be differing deposit fees.
When it comes time to transact on the exchange, Bitpanda charges 1.49% for buys, and 1.29% on sells making them an extremely competitive option.
|Very high liquidity||Verification required for withdrawals|
|Easy to use interface||A small variety of tradeable cryptocurrency assets|
|Lots of payment and withdrawal methods||No advanced trading platform|
|Fiat currency deposits and withdrawals||Relatively high fees compared to some other exchanges|
Final thoughts on Dutch Bitcoin exchanges
So to sum it all up… finding the best Bitcoin exchange in the Netherlands is far easier than you might imagine. Each exchange we’ve listed above has different pros and cons. So the best Dutch Bitcoin exchange for one person might not be the best for another.
While there are a number of exchanges available locally, as well as on the international and semi-international exchanges, it’s only a matter of determining your needs and finding an exchange that best fits those needs.
Take into account exchange reputation, transaction fees, other costs, exchange rates, dealer spreads, and customer service. Don’t forget to consider the time needed to open an account, as well as how long it takes for you to receive the cryptocurrencies you purchase.