Key takeaways
- Since 30 December 2024 a firm needs an authorisation under the EU's MiCA regulation to provide crypto-asset services. The transitional period for older providers ended on 1 July 2026 at the latest.
- Before you send money, look up the provider's legal entity in the ESMA interim MiCA register and in its national register. Both are public and free to search.
- A broker sells to you at a quoted price, an exchange matches you with other users, and an exchange-traded product gives price exposure without coins you can withdraw.
- On Bitpanda the minimum order is EUR 1.00 and the trade fee for Bitcoin is 0.99% per transaction.
- After buying, you either leave the Bitcoin in custody with the provider or withdraw it to a wallet whose keys you hold. Transfers on the Bitcoin network cannot be reversed.
- The steps are the same in Germany, Austria, France, Italy and Spain. The tax rules are not.
For information only. Not investment advice.
What you need before you start
You need three things: a valid identity document, a euro payment method in your own name and a provider that is authorised to serve your country of residence. A passport or national identity card and a bank account that can send SEPA transfers cover the first two. Decide how much to spend before you open the app, and use only money you can afford to lose, because the price of Bitcoin can fall sharply in a short time. This guide describes the process for any provider and uses Bitpanda as the worked example. There are more guides in Bitpanda Academy.
Crypto-assets are highly volatile. You could sustain a loss of some or all of your investment, so it is important to invest only what you can afford to lose.
The disclosure page lists the risks of crypto-assets in full.
Terms used in this guide
- MiCA (also MiCAR): Regulation (EU) 2023/1114 on markets in crypto-assets, the EU rulebook for crypto-asset issuers and service providers.
- CASP: crypto-asset service provider, a firm that provides services such as custody or exchange under MiCA.
- Spread: the difference between the price at which you can buy and the price at which you can sell at the same moment.
- Custody: the provider holds the Bitcoin, or the keys to it, on your behalf.
- Private key and recovery phrase: the secret that controls the Bitcoin at an address. Whoever holds it can spend the coins.
- SEPA: the Single Euro Payments Area, the scheme behind euro bank transfers in Europe.
Step 1: choose the type of provider
You can buy Bitcoin with euros in three ways: from a broker, on an exchange with an order book, or indirectly through an exchange-traded product in a securities account. The routes differ in who sells to you, how the price is set and whether you can withdraw coins afterwards.
Broker
A broker sells you Bitcoin itself, at a price it quotes. MiCA calls this service the exchange of crypto-assets for funds: the provider concludes the purchase or sale contract with you using its own capital (Article 3(1)(19)). A firm that provides it must publish a firm price or its pricing method, and must execute your order at the price displayed when the order becomes final (Article 77). You see one price, accept it and the trade is done. Bitpanda works this way: it is a crypto broker for EU and EEA residents, and the ESMA register lists exchange for funds (service c) for Bitpanda GmbH but not the operation of a trading platform (service b).
Exchange (trading platform)
An exchange runs an order book in which your order is matched with the orders of other users. MiCA calls this the operation of a trading platform: a multilateral system that brings together the buying and selling interests of third parties so that contracts result (Article 3(1)(18)). You choose the order type yourself and pay a maker or taker fee on each trade. There is more to learn, and a market order in a thin order book can fill at a worse price than the one you saw.
Bitcoin exposure through a securities account
An exchange-traded product (ETP) that tracks Bitcoin is a security you buy through a bank or securities broker, in the same way as a share. You hold a claim against the issuer of the product, not coins, so there is nothing to send to a wallet. Financial instruments are outside MiCA (Article 2(4)) and fall under securities law instead. You pay the order fee of the securities broker, the spread on the stock exchange and the ongoing charge of the product.
| Route | How the price is set | What you pay | Drawbacks |
|---|---|---|---|
| Broker | The provider quotes one price and is your counterparty. | A trade fee, a spread inside the quote, or both. | You depend on one provider's quote, so compare the all-in price and not only the fee. |
| Exchange with an order book | Buyers and sellers set it in the order book. | A maker or taker fee, plus the spread in the book. | More to learn. A market order in a thin book can fill at a worse price. |
| Exchange-traded product | The stock-exchange price of the product. | Order fee, exchange spread and the ongoing product charge. | No coins to withdraw. You carry the risk of the issuer and can trade only in exchange hours. |
For the detail, including how order execution and custody differ, read the guide to broker or exchange: which model you are using.
Step 2: check that the provider is authorised
A provider needs a MiCA authorisation to offer crypto-asset services to EU residents, and you can verify it yourself in public registers. Since 30 December 2024, Article 59 of MiCA has reserved these services for authorised crypto-asset service providers and for certain financial firms, such as banks and investment firms, that are allowed to add them. Providers that were already active under national law could continue for a transitional period, which ended on 1 July 2026 at the latest (Article 143(3)).
"A person shall not provide crypto-asset services, within the Union, unless"
Regulation (EU) 2023/1114 (MiCA), Article 59(1). The sentence goes on to name the two kinds of permitted provider. Read on EUR-Lex on 12 October 2026.
Run three checks before you send money:
- Find the legal entity. The footer or legal notice of the website names the company behind the brand. For Bitpanda's EU service it is Bitpanda GmbH in Vienna.
- Look it up in the ESMA interim MiCA register. ESMA publishes the register as downloadable files and republishes it every week. The file of crypto-asset service providers shows the home authority, authorisation date, services and countries for each firm.
- Confirm it in the national register. The database of the home authority should show the same company in a crypto-asset category.
For Bitpanda GmbH, the ESMA file as last updated on 7 October 2026 shows the following entry.
- Competent authority
- Austrian Financial Market Authority (FMA)
- Legal entity identifier
- LEI 5493007WZ7IFULIL8G21
- Authorisation date
- 9 April 2025, written 09/04/2025 in the file
- Services
- a (custody and administration), c (exchange for funds), d (exchange for other crypto-assets), e (execution of orders), f (placing), g (reception and transmission of orders) and j (transfer services). Service b, the operation of a trading platform, is not listed.
- Countries served
- 30 EEA states, among them Germany, Austria, France, Italy and Spain
The FMA company database lists the same company in its category for crypto-asset service providers. In the wording of its legal notice, Bitpanda GmbH is authorised as a crypto-asset service provider under MiCAR by the Austrian Financial Market Authority (FMA), under commercial register number 569240v. Every entry and its date is on the page about Bitpanda GmbH in the FMA and ESMA registers, and the company background is on the page about who Bitpanda is. To run the same checks on any other provider, follow the guide on how to check a MiCA licence in the registers.
Step 3: verify your identity
Every authorised provider has to identify you before you can trade, so expect a verification step and be wary of a platform that skips it. The duty comes from anti-money-laundering law: under MiCA, an authority must withdraw the authorisation of a provider that lacks effective systems to detect and prevent money laundering and terrorist financing (Article 64(1)(f)).
You are normally asked for:
- a photo of a valid passport or national identity card;
- a liveness check, which is a short selfie video or photo that is compared with the document;
- in some cases proof of address, or the source of your funds for larger amounts.
On Bitpanda, verification runs through one of its verification partners, according to its cost overview page. Approval time varies with the checks that are needed. Start the process only on the provider's own website or in the official Bitpanda app. A legitimate provider never asks for your password, your wallet recovery phrase or remote access to your device. Bitpanda's support page says it will not ask for passwords, seed phrases or recovery codes and will not message you first.
Step 4: deposit euros
You fund the account in euros by bank transfer, by card or through an online payment service. The three differ in speed, in limits and in what your bank or card issuer charges. Whichever you choose, pay from an account or card in your own name.
SEPA bank transfer
A SEPA transfer is the standard way to buy Bitcoin with a bank account, and it carries the highest limits. You send euros from your bank to the account details and payment reference shown in your provider account. A standard transfer can take until the next banking day to arrive, while an instant transfer arrives within seconds if your bank sends it that way. A transfer is hard to recall once it has been executed, so check the recipient details before you confirm.
Card
A debit or credit card payment is credited quickly, which suits a small first purchase. Limits are lower than for bank transfers. Your card issuer may apply its own fees or restrictions to crypto purchases, so read its terms first. Unlike a bank transfer, a card payment can be disputed with the issuer under the rules of the card scheme.
Online payment services
Online payment services sit between the two: fast like a card, with limits set by the provider and by the payment service. Bitpanda's cost overview names PayPal and Apple Pay among its payment options, and its limits page groups deposits into bank transfer, credit card and online payments.
| Deposit method | Per 24 hours | Per month |
|---|---|---|
| Bank transfer (SEPA) | EUR 10,000,000 | EUR 10,000,000 |
| Credit card | EUR 20,000 | EUR 300,000 |
| Online payments | EUR 10,000 | EUR 300,000 |
Source: Bitpanda limits page. The daily limit covers the 24 hours after your last deposit. Limits depend on verification status and payment method, and the page does not list the limits Bitpanda applies for regulatory purposes.
Step 5: place your order
To place the order you enter a euro amount, check the quoted price and the fee, and confirm. On Bitpanda the minimum amount to buy or sell an asset is EUR 1.00.
Instant order or limit order
An instant order executes straight away at the price the provider quotes. A limit order waits until the market reaches a price you set, and it may never execute. With a broker, the confirmation screen is the whole deal: it shows the euro amount, the fee and the amount of Bitcoin you receive. A limit order suits you if you have a price in mind and no deadline. Neither order type protects you from a fall in price after the purchase.
A worked example
The numbers in this example are illustrative and are not a quote. You buy EUR 100 of Bitcoin from a broker whose trade fee is 0.99%:
- the fee is EUR 0.99, which is 0.99% of EUR 100;
- the remaining EUR 99.01 is converted into Bitcoin at the quoted price;
- at an assumed quote of EUR 100,000 per Bitcoin, chosen only to keep the arithmetic simple, you receive 0.00099010 BTC.
The quote itself can include a spread. If the buy quote were 0.2% above the price at which the same broker would buy back at that moment, selling at once would cost you about EUR 0.20 more, on top of the two trade fees. Differences of this size are the reason to compare the amount of Bitcoin you receive for the same euros, and not only the fee.
If the broker route suits you
The product page shows how to buy Bitcoin on Bitpanda with euros, with payment methods, fees and limits in one place.
Step 6: decide where to keep your Bitcoin
After the purchase your Bitcoin is held in custody by the provider, and you choose whether to leave it there or withdraw it to a wallet whose keys you control. Neither choice is right for everyone, so this section sets out what changes and makes no recommendation.
Leaving it with the provider
Custody with an authorised provider comes with specific duties under MiCA. The provider must make adequate arrangements to safeguard your ownership rights, especially if it becomes insolvent, and must not use your crypto-assets for its own account (Article 70(1)). It must conclude a custody agreement with you that covers its duties, its custody policy, its security systems, its fees and the applicable law (Article 75(1)). It must keep client holdings segregated from its own (Article 75(7)), and it is liable for losses from incidents attributable to it, up to the market value of the lost asset (Article 75(8)). These rules lower the risk of relying on one company. They do not remove it, and they do nothing about price risk. Bitpanda states that it charges no fee for storing crypto-assets. The security page explains how custody works at Bitpanda.
Moving it to your own wallet
Self-custody means you hold the private key, usually through a hardware or software wallet and a written recovery phrase. No company can freeze or lose the coins, and no company can restore them if you lose the phrase. A withdrawal is a transfer on the Bitcoin network: it cannot be reversed, it must go to a Bitcoin address, and it costs a network fee. Bitpanda lists withdrawal costs for each asset on its limits page. Send a small test amount before a large transfer.
| Question | Leave it with the provider | Move it to your own wallet |
|---|---|---|
| Who holds the keys? | The provider, under a custody agreement. | You. |
| What can go wrong? | The provider fails, or someone takes over your account. | You lose the recovery phrase, or you send coins to a wrong address. |
| If you lose access | The provider can restore access after checking your identity. | Nobody can restore access without the recovery phrase. |
| Selling | Directly from your account. | You transfer the coins back to a provider first, and pay a network fee. |
| Running cost | Depends on the provider. Bitpanda states that it charges no storage fee. | A network fee for each transfer, and the price of a hardware wallet if you use one. |
What it costs in total
The total cost of buying Bitcoin is the trade fee or premium plus the spread, plus any deposit, withdrawal, currency-conversion or product charges. MiCA requires providers to publish their policies on pricing, costs and fees in a prominent place on their website (Article 66(4)), so you should be able to find every line of this table before you open an account.
| Cost component | What to check with any provider | Bitpanda, as published |
|---|---|---|
| Trade fee or premium | A percentage of each purchase and each sale. | 0.99% per transaction for Bitcoin. On Bitpanda Fusion, 0.25% at Level 1, for up to EUR 100,000 of 30-day volume. |
| Spread | The gap between the buy price and the sell price at the same moment. | No figure is given on the cost overview. |
| Deposit fee | Charged by the provider, by your bank or by your card issuer. | Bitpanda states that it charges no deposit fees. Your bank or card issuer may still charge. |
| Withdrawal and network fee | Charged when you move coins to your own wallet. | Listed for each asset on the limits page. |
| Currency conversion | Applies if you pay in a currency other than the one your account uses. | Fiat wallets in EUR, USD, GBP, CHF and PLN. |
| Product charges | Exchange-traded products only: the ongoing charge and the order fee of the securities broker. | Does not apply to coins bought through the broker. |
| Account and storage | Monthly account fees or custody fees, where a provider has them. | Accounts and wallets are free of charge, with no fee for storing crypto-assets. |
Sources: Bitpanda cost overview, limits page and Fusion page. Minimum order: EUR 1.00. Third-party charges and taxes can apply on top.
The full schedule, with every fee level and limit, is on the page about Bitpanda fees and deposit limits.
Country notes: Germany, Austria, France, Italy and Spain
The six steps are the same in all five countries, because MiCA applies directly in every EU member state and a provider with an authorisation in one state can serve the others after notifying its home authority (Article 65). What differs is the national authority that supervises local providers, and the tax treatment of any gain.
| Country | Authority | Where to check | Tax questions |
|---|---|---|---|
| Germany | Federal Financial Supervisory Authority (BaFin) | ESMA register and the BaFin company database | Your local tax office, or the Federal Ministry of Finance |
| Austria | Austrian Financial Market Authority (FMA) | ESMA register and the FMA company database | Federal Ministry of Finance: page on the tax treatment of cryptocurrencies (in German) |
| France | Autorité des Marchés Financiers (AMF) | ESMA register and the AMF website | Direction générale des Finances publiques: impots.gouv.fr |
| Italy | Commissione Nazionale per le Societa e la Borsa (CONSOB) | ESMA register and the CONSOB website | Agenzia delle Entrate |
| Spain | Comision Nacional del Mercado de Valores (CNMV) | ESMA register and the CNMV website | Agencia Tributaria |
The ESMA entry for Bitpanda GmbH names all five countries among the states it serves. This guide states no tax rates, allowances or holding periods, because they differ by country and change. Ask the authority in the last column, or a tax adviser where you are resident.
Mistakes to avoid
These five mistakes have nothing to do with the price of Bitcoin, and each one can be avoided.
- Using a platform that is not in the register. If the legal entity is in neither the ESMA file nor a national register, do not send money. ESMA also publishes a file of non-compliant entities.
- Following a link to a lookalike login page. Type the address yourself or open the app. No genuine support agent needs your password or recovery phrase.
- Sending coins on the wrong network. A withdrawal must go to an address on the network the receiving wallet uses. Coins sent elsewhere can be lost for good.
- Treating a price chart as a forecast. Past prices do not tell you what the next price will be.
- Investing money you will need soon. Bitcoin can lose a large part of its value quickly. Money for rent, tax or debt payments does not belong in it.
Frequently asked questions
Is it legal to buy Bitcoin in Europe?
Yes. You can buy Bitcoin legally in the EU through providers authorised under the Markets in Crypto-Assets Regulation, (EU) 2023/1114. Since 30 December 2024 a provider has needed a MiCA authorisation to offer crypto-asset services in the Union, and the transitional period for older providers ended on 1 July 2026 at the latest. Look the provider up in the ESMA register before you pay.
What is the minimum amount of Bitcoin I can buy?
There is no legal minimum. Each provider sets its own, and on Bitpanda the minimum amount to buy or sell an asset is EUR 1.00, according to its limits page. A small order simply buys a fraction of a Bitcoin. With very small amounts, check that fixed costs, such as the network fee for a later withdrawal, do not outweigh the purchase.
Can I buy Bitcoin with a European bank account?
Yes. A SEPA transfer from a bank account in your own name is the standard way to fund a crypto account in euros, and it carries the highest limits. On Bitpanda, the SEPA deposit limit for a verified account is EUR 10,000,000 per 24 hours. You send the transfer to the details shown in your account, wait until it is credited and then place the order.
How long does it take to buy Bitcoin?
The order itself takes seconds once your account is verified and funded. The waiting happens before it: identity verification takes as long as the checks of the provider need, and a standard bank transfer can take until the next banking day, while card and instant payments are faster. The first purchase therefore takes longest, and later orders start from a funded account.
Do I pay tax when I buy Bitcoin?
Buying Bitcoin with euros is generally not the taxable event. Tax usually arises when you sell, swap or spend it at a gain. The rules, rates and reporting duties differ between Germany, Austria, France, Italy and Spain and they change, so this guide states none of them. Keep a record of every purchase with its date, amount and price, and ask your national tax authority or a tax adviser.
Sources
Legal statements were checked against the text of the regulation, and register entries against the files and databases listed here. Bitpanda figures come from Bitpanda's own pages.
- Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA), EUR-Lex, Articles 2, 3, 59, 64, 65, 66, 70, 75, 77, 143 and 149: https://eur-lex.europa.eu/eli/reg/2023/1114/oj. Accessed 12 October 2026.
- European Securities and Markets Authority (ESMA), MiCA page with the interim MiCA register, last updated 7 October 2026: https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica. Accessed 12 October 2026.
- ESMA, interim MiCA register, file of crypto-asset service providers (CSV): https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv. Accessed 12 October 2026.
- Austrian Financial Market Authority (FMA), company database, search for "Bitpanda": https://www.fma.gv.at/en/search-company-database/?cname=Bitpanda. Accessed 12 October 2026.
- Federal Financial Supervisory Authority (BaFin), company database: https://portal.mvp.bafin.de/database/InstInfo/. Accessed 12 October 2026.
- Bitpanda, payment methods and limits page: www.bitpanda.com/en/limits. Accessed 12 October 2026.
- Bitpanda, cost overview page: www.bitpanda.com/en/why-bitpanda. Accessed 12 October 2026.
- Bitpanda Fusion page, fee levels: www.bitpanda.com/en/fusion. Accessed 12 October 2026.
The country table also links to the websites of the national authorities. Each one was opened on 12 October 2026 to confirm the link, and none is the source of a figure in this guide.
For information only. Not investment advice. This guide explains how buying Bitcoin works in the EU. It does not tell you whether to buy, how much or when.