Buy Bitcoin Ireland – How To Buy Bitcoin in Ireland Online in 2021

Fact Checked by Gary McFarlane

These days, everyone has heard of Bitcoin. After exploding onto the scene in the past decade, Bitcoin has helped to kickstart the world of cryptocurrency – with the market topping $2 trillion in value for the first time this year. However, due to the nature of Bitcoin, some people still struggle to buy Bitcoin and hold it safely.

Not to worry – in this guide, we’ll discuss How to Buy Bitcoin Ireland in detail. We’ll cover the best places to buy Bitcoin right now and explore everything you need to know about the topic so that you can buy Bitcoin in the cheapest and safest manner possible.

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How to Buy Bitcoin in Ireland – 4 Quick-Step Guide

If you’re looking to invest in Bitcoin right away, then many of the top brokers will allow you to do so in minutes. However, we’d recommend using eToro if you’re looking to buy Bitcoin in Ireland, as you’ll be able to trade commission-free and from as little as $25 (€21.55) per trade.fb

With that in mind, the four short steps below highlight how you can purchase BTC with eToro – in under ten minutes:

  • Step 1 – Open an eToro Account: Navigate to eToro’s website and click ‘Join Now’. Enter an email address and choose a username and a password to create your account.
  • Step 2 – Verify your Account: Upload proof of ID (a copy of your passport or driver’s license) and proof of address (a copy of a bank statement or utility bill).
  • Step 3 – Make a Deposit: Deposit a minimum of €43 using a credit/debit card, bank transfer, or e-wallet.
  • Step 4 – Buy Bitcoin: Type ‘BTC’ into the search bar and click ‘Trade’. Enter your desired position size and then click ‘Open Trade’.

67% of all retail investor accounts lose money when trading CFDs with this provider.

How To Buy Bitcoin in Ireland – Quick Broker Comparison

Before we kick off our discussion of how to buy Bitcoin, it’s wise to provide a quick overview of the top brokers and exchanges that offer Bitcoin in Ireland. The brokers noted below are the ones we’d recommend through our extensive research and testing, making them ideal if you want to invest in Bitcoin today.

eToro

  • Invest in a vast number of cryptocurrencies with 0% commissionsetoro logo
  • The minimum deposit amount is only $50 (€43)
  • Regulated by top organisations such as the FCA, ASIC, and CySEC

Buy Bitcoin at eToro Now >

Coinbase

  • Ideal for beginners due to user-friendly platformcoinbase logo
  • Massive range of cryptocurrencies to trade
  • Minimum position size of only €2

Binance

binance logo

  • Commissions are only 0.1% per trade
  • High-speed execution for a seamless trading experience
  • Free crypto wallet offered to store digital currencies

 

As you can see, each of the options we’ve noted above comes with its own benefits, which can make the process of choosing the right one a little tricky. However, throughout this guide, we’ll discuss every aspect of the investing process – ranging from what Bitcoin is to how you can buy Bitcoin in under ten minutes.

Where to Buy Bitcoin in Ireland – Full

As noted earlier, there is a vast selection of brokers and exchanges to choose from when buying Bitcoin in Ireland. However, to make the process smoother for you, we’ve narrowed it down to the best trading platforms available right now when it comes to investing in BTC. These platforms represent the best in the industry for cryptocurrency investing and ensure you can trade safely and cost-effectively.

1. eToro – Overall Best Platform to Buy Bitcoin Ireland

Our number one pick when it comes to investing in BTC in Ireland is eToro. Known as one of the world’s largest online brokers, eToro boasts over 23 million users worldwide and is regulated by the FCA, ASIC, and CySEC. What’s more, due to eToro’s 0% commission fee structure, users can buy Bitcoin with no fees – which is in stark contrast to many other platforms in the industry.

etoro buy BTC

The minimum deposit amount with eToro is only $50 (€43), which can be made via credit/debit card, bank transfer, or e-wallet – including PayPal and Klarna. eToro also let you invest from only $25 per trade through their fractional investing approach, meaning you don’t need to buy an entire asset and can instead purchase fractions of it. Finally, eToro even offers a free crypto wallet for you to store your Bitcoin holdings, ensuring they are protected from cyberattacks.

Pros Cons
Buy Bitcoin with 0% commissions Minor withdrawal fee
Minimum deposit amount only $50 (€43) Small charge when depositing in a non-USD currency
Mobile app to trade on the go
Free crypto wallet to store your holdings
Regulated by the FCA, ASIC, and CySEC

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – User-Friendly Platform to Buy Bitcoin Ireland

If you’re looking for an alternative to eToro, we’d also recommend checking out Coinbase. Coinbase has over 68 million users and operates in over 100 countries, providing a considerable level of credibility to the platform. One of Coinbase’s top benefits is that it is incredibly user-friendly and designed to appeal to beginner traders.

coinbase buy BTC ireland

Coinbase allows users to invest from as little as €2 per trade, which is one of the lowest in the industry. What’s more, 98% of Coinbase’s holdings are located in cold storage, which means they are as safe as possible when it comes to cyberattacks and security breaches. In terms of fees, Coinbase does charge a spread that tends to be around 0.5% per trade. On top of this, users will also have to pay a transaction fee, which gets higher as your position size gets larger.

Pros Cons
Over 68 million users worldwide Fees can be pretty high when trading
Invest from only €2 per trade High cost for depositing via credit card
98% of holdings are in cold storage
User-friendly platform ideal for beginners
Regulated by the FCA

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Binance – Best Platform to Buy Bitcoin Ireland with Credit Card

Binance is the largest cryptocurrency exchange in the world right now, with over $24bn traded in the last 24 hours alone. Over the past few years, Binance has expanded to become the go-to platform for many crypto traders, as they allow you to fund your account with either FIAT currency or your own crypto holdings. Notably, Binance only charges 0.1% per trade as their fee, which is much lower than most Bitcoin exchanges.

binance buy BTC ireland

Binance offers over 500 cryptocurrencies and tokens to trade, making it one of the best platforms to invest in smaller coins. You can even use Binance’s cryptocurrency wallet, called the Trust Wallet, to store your holdings for free. However, it is worth noting that funding your account using a credit/debit card (such as Visa or Mastercard) will accrue a fee of 1.80%. Notably, there is no fee to fund your account in Euros if you use a P2P bank transfer, which is ideal if you’re buying Bitcoin in Ireland.

Pros Cons
Low fee of only 0.1% per trade Depositing via credit/debit card can be pricey
Largest crypto exchange in the world by trading volume Trading platform not as beginner-friendly as others
Vast selection of cryptos to trade
No deposit fees if using P2P bank transfer
Free Trust Wallet to store holdings

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

How to Buy Bitcoin Ireland – Full eToro Guide

Now that you have a solid overview of the best places to buy Bitcoin in Ireland, let’s turn our attention to the investing process. When investing in cryptocurrency, whether in Ireland or elsewhere, we recommend using eToro due to the platform’s safety and low fees.

However, if you’re interested in buying Bitcoin but don’t know where to start – don’t worry! The steps below will show you how to buy Bitcoin in Ireland in under ten minutes – all without paying any commissions!

Step 1: Open an eToro Account

Head over to eToro’s website and click ‘Join Now’. On the next page, simply enter your email address and choose a username and a password. You can also do this step on eToro’s handy mobile app, which can be downloaded for free on iOS or Android.

etoro sign up

67% of all retail investor accounts lose money when trading CFDs with this provider.

Step 2: Verify your Account

Due to eToro being one of the safest FCA brokers UK, new users will have to verify themselves before being able to trade. To do so, head to your account dashboard and click ‘Complete Profile’. You’ll then be asked to enter some relevant personal information for the KYC checks.

In addition, you’ll also have to upload proof of ID (a copy of your passport or driver’s license) and proof of address (a copy of a bank statement or utility bill). Once uploaded, eToro will then verify these documents, which tends only to take a few minutes.

Step 3: Fund your Account

eToro’s minimum deposit is now only $50 (€43), making the platform easily accessible to beginner traders. Notably, deposits are free to make if you fund your account in USD; however, you will have to pay a small currency conversion fee if you fund your account in Euros or another currency.

In terms of payment options, eToro accepts the following:

  • Credit Card
  • Debit Card
  • Bank Transfer
  • PayPal
  • Skrill
  • Neteller
  • Rapid Transfer

Step 4: Search for Bitcoin

Once you have funded your account, click into the search bar at the top of the screen and type in ‘Bitcoin’ or ‘BTC’. In the drop-down menu that appears, click ‘Trade’ next to the first option.

Step 5: Buy Bitcoin

An order box will now appear, similar to the image below. In this box, simply enter your desired position size (minimum of $25). Once you have done this, double-check everything is correct and then click ‘Open Trade’.

etoro buy Bitcoin ireland

Congratulations! You’ve just invested in Bitcoin in Ireland – all without paying any commissions!

Buying Bitcoin in Ireland – An Overview of Bitcoin

Before you go ahead and buy cryptocurrency, it’s vital to understand what it is and how it works. In Bitcoin’s case, this digital currency has exploded over the past decade and is now understood by people who aren’t even involved in the financial markets. Put simply, Bitcoin is a decentralised digital currency that can be transferred in a peer to peer manner online – no physical Bitcoin ‘coins’ exist.

Bitcoin was created in 2009 by Satoshi Nakamoto, who is still unidentified to this day. The key feature of Bitcoin is that it is decentralised, meaning that the digital currency is not controlled by one single point of authority. Instead, all Bitcoin transactions are stored on a distributed ledger, which is basically an extensive public database of everything on the Bitcoin network. Due to this ledger being transparent, the idea is that transactions are much safer and less likely to be fraudulent.

what is bitcoin

Transactions are verified on the Bitcoin network through a process called ‘mining’, which is when a difficult puzzle is solved by advanced computers that results in a block being added to the blockchain. Without getting too technical, the blockchain is essentially what Bitcoin’s public ledger is – a collection of all the transactions, which are then categorised into blocks. These blocks are verified by all of the users on the network, as each user has a complete copy of the entire blockchain, ensuring that nobody can steal or defraud other users.

Finally, Bitcoin is not backed by any central banks or governments, adding to its decentralised nature. These days, Bitcoin can be used as a payment method and is accepted by many merchants. In fact, Bitcoin is now accepted as legal tender in El Salvador! However, many investors use Bitcoin as a store of value and speculate on its price, just like they would with any other asset class.

Bitcoin Price Analysis – Should I Buy Bitcoin?

When Bitcoin first entered the market in 2010, the coin was trading for under $0.10. At this time, nobody really knew how valuable Bitcoin was or if it would ever come into the public consciousness. However, as the years passed, more and more people became interested in this cryptocurrency – which led to Bitcoin breaching $1 for the first time in April 2011.

After this, Bitcoin began exploding in popularity and grew to over $100 by March 2013. Early investors in Bitcoin would have already realised some exceptional returns by this point – although this was just the beginning for the currency. Bitcoin continued to grow exponentially over the following years and finally reached a valuation of $1000 in February 2017.

BTC price chart

This is where Bitcoin really came into the public consciousness, as investors and developers worldwide began to realise how exciting blockchain technology and cryptocurrencies could be. People who would typically buy shares UK were turning to cryptocurrency to achieve much more significant gains than what you could expect from the stock market. Ultimately, this pushed Bitcoin even higher, with the coin breaking $10,000 in November 2017.

The following years saw a few crashes in the Bitcoin price, with many believing that it was simply a ‘bubble’. However, in early 2021, Bitcoin’s price went on a massive bull run and peaked at $61,035 in April 2021. Price did fall after this but then rebounded impressively – and hit a new all-time high of $66,930 in October 2021.

Bitcoin Price Prediction 

This leads us up to the present day. Right now, the hype around Bitcoin is at a fever pitch, with many investors speculating that BTC could reach $100,000 in the near future. The popularity of Bitcoin has driven exceptional innovation in the cryptocurrency market, with many investors choosing to buy Ethereum (ETH), Litecoin, or other altcoins to complement their BTC investments.

However, Bitcoin is still the top dog in the crypto market and has a market cap of $1.1 trillion, according to CoinMarketCap. In terms of BTC’s future, it’s challenging to tell where this coin may go. As we noted earlier, Bitcoin is now accepted as legal tender in El Salvador, which is a considerable boost to BTC’s credibility. Furthermore, merchants around the world now accept BTC as a form of payment, reducing the need for consumers to use FIAT currency such as USD, GBP, or EUR.

BTC market cap

Many people have written off Bitcoin in the past, yet its value just keeps rising. This has become so consistent that many investors now use Bitcoin as a hedge, similar to how they would use Gold. Ultimately, this has made BTC not only a helpful asset in terms of its utility but also a valuable asset for speculative purposes.

Over the long term, Bitcoin’s price will likely continue to rise – although there will undoubtedly be periods of volatility within that timeframe. Recently, a Bitcoin futures ETF was accepted by the SEC, which is a massive thing as it marks the first time that BTC has been essentially ‘allowed’ by the financial markets. Although there will undoubtedly be some cryptocurrency regulations in the future, the fact that Bitcoin was the first mover in this regard will ensure it can continue growing as the years pass.

Why Buy Bitcoin in Ireland?

So, now that you understand what Bitcoin is and its outlook for the future, let’s discuss why you should consider investing in Bitcoin. The best investments UK are those which have a valuable use case and a strong community backing – which BTC certainly does. With that in mind, let’s explore the three main reasons to consider adding Bitcoin to your portfolio.

First-Mover Advantage in the Cryptocurrency MarketBitcoin logo

If you are experienced in investing in cryptocurrency UK, you’ll understand just how much influence Bitcoin has on the entire cryptocurrency market. Bitcoin’s dominance is so significant that smaller coins tend to correlate with BTC’s movements – so when Bitcoin increases in price, the whole market tends to follow. Thus, due to how well-established BTC is, we can predict its price movements a lot more accurately than smaller altcoins.

In addition, due to its first-mover advantage, Bitcoin is seen as more credible and safer by large companies and institutions – meaning that if they were to implement cryptocurrency into their operations, it would likely be Bitcoin. Furthermore, as Bitcoin is so large now, it’s essentially too big to fail. All of these reasons combine to make BTC a good investment in terms of its stability and long-term prospects.

Capped Supply

Another reason to invest in Bitcoin in Ireland is that the supply of BTC coins is capped. According to data from CoinMarketCap, there is a maximum supply of 21,000,000 coins. This means that once 21,000,000 Bitcoins are mined, then no more can ever be created.

Ultimately, this is good news for speculative investors. As there is a finite supply of Bitcoin, this makes the asset scarce. According to the laws of supply and demand, if an asset’s supply is limited or reduced, whilst demand stays the same or increases, the price will rise. So, as less BTC is in existence, the value of the coin will increase over time. Essentially, this makes Bitcoin a deflationary asset, which is ideal for speculative investors.

Decentralised and Immutable

Finally, according to Bitcoin’s core values, the currency will always remain decentralised and immutable. This is because no single entity controls the Bitcoin network, and it is instead run by the nodes that operate it. Due to there not being a single point of failure (such as in the case of a bank of financial intermediary), using Bitcoin is deemed ‘safer’ than using traditional FIAT currency. For example, if a bank were to be hacked, users’ data and funds would be at risk of being stolen. This is nearly impossible when it comes to blockchain technology.

bitcoin blockchain technology

Also, as Bitcoin is decentralised, the entire network is basically anonymous. The only personal information that can be seen is the Bitcoin wallet address that sends or receives the funds – although no name or contact details are shown on the network. Ultimately, this means that Bitcoin offers a level of privacy that you cannot get using traditional currency. Although this means that BTC can be used for criminal pursuits, it is also an attractive element for users who wish to conduct transactions anonymously.

How Much Does It Cost to Buy Bitcoin?

As Bitcoin is traded on the financial markets, the price is determined by the laws of supply and demand. Much like if you were to buy Tesla stock, the price you buy BTC will likely fluctuate daily. Ideally, you’d want to purchase Bitcoin at a low point and then sell when it is at a high point – thereby generating a return in the process.

Due to Bitcoin being valued at over $66,753 at the time of writing, it’s understandably too expensive to purchase an entire BTC for most people. That’s why innovative brokers such as eToro will allow users to buy fractions of a coin through their fractional investing structure. Through this process, you can invest as little as $25 into Bitcoin whilst still gaining exposure to price movements!

How to Buy Bitcoin Ireland Using PayPalpaypal logo

If you’re looking to buy Bitcoin in Ireland, you’ll likely be wondering whether you can use PayPal to make your purchase. Well, the answer is yes! Many Bitcoin brokers UK will accept PayPal as a deposit method because it is so widely used in modern society.

One of the best brokers that accept PayPal is eToro. With eToro, you can deposit as little as $50 (€43) into your trading account using PayPal, with the funds available to use immediately. Furthermore, if you fund your account using PayPal, you will then be able to withdraw back to PayPal too!

How to Buy Bitcoin Anonymously in Ireland

If you like the idea of buying Bitcoin due to its anonymity, you may wish to purchase Bitcoin without providing your identity. However, this is a lot trickier than you’d expect. Due to online brokers and crypto exchanges being regulated by top organisations, users must provide their details to pass the KYC checks.

These details usually include your name, email address, contact number, and other personal information. Thus, it’s not feasible to buy Bitcoin anonymously in Ireland using one of these regulated brokers. The only way to buy Bitcoin anonymously would be to use an unregulated platform that does not require KYC checks. However, we would not recommend this, as these platforms are not licensed and offer no investor protection. Thus, if you were to buy Bitcoin using an unregulated or unlicensed platform, you’d be putting yourself at risk of losing your capital or having your personal information breached.

Safest Way to Buy Bitcoin in Irelandfca logo

Another question you may have is how to buy Bitcoin safely in Ireland. Most of the best Bitcoin trading platforms will be regulated by top organisations that ensure the platform abides by strict security policies that protect users. Ideally, you’ll want to look for platforms regulated by entities such as the FCA, ASIC, or CySEC.

Furthermore, it’s a good idea to go with an established broker such as eToro, as these brokers tend to have the most credibility and be the safest. Again, just touching on the previous section, it’s crucial to steer clear of unlicensed brokers and exchanges. As these brokers aren’t subject to regulatory oversight, they can pretty much do what they want – meaning your details and capital are at risk of being stolen.

Risks of Buying Bitcoin in Ireland

Up until this point, the process of buying Bitcoin seems pretty rosy. However, when investing in an asset like this, it’s essential to have a balanced view and consider the risks. With that in mind, found below are three of the main things to keep in mind regarding the dangers of buying Bitcoin.

Financial Loss

The main risk associated with buying Bitcoin is financial loss. Much like when you’re forex trading, buying Bitcoin can result in you losing money if the price goes below the level you purchased at. Ultimately, this is a risk with any financial asset – although Bitcoin (and cryptocurrency in general) tends to be more volatile than most assets. So, when you invest in Bitcoin in Ireland, make sure to remember there’s a chance your position could end in a loss.

Potential Theft

As Bitcoin is a digital asset, there’s the risk that your BTC holdings could be breached and stolen by cyber attackers. These days there are many ways to prevent this from happening – most notably by using a crypto wallet. eToro offers a free crypto wallet to all users which features advanced encryption technology to safeguard your holdings. However, nothing is foolproof, so keep this in mind when investing.

Regulations

Finally, there is always the threat that new regulations could be passed that restrict Bitcoin trading. Right now, the financial markets have not passed any significant laws that threaten the cryptocurrency market – although there are rumours that the SEC is looking into areas where it can crack down on crypto trading. If this happens, we’d likely see some considerable changes in Bitcoin’s price. However, there is nothing that investors can do about this, so it’s wise to just keep an eye out for any announcements.

Selling Bitcoin

Finally, if you were to buy Bitcoin Ireland, you’ll likely want to sell it at some point to realise a return on your investment. This is the same scenario as if you were to invest in stocks or any other asset class. To make the scenario clearer, consider the example below:

  • You invest €1000 in Bitcoin when the price was at $60,000
  • In one year, Bitcoin’s price rises to $120,000
  • You decide to close your position to realise your gain
  • As price has increased by 100%, your investment amount will also have increased by 100%
  • Therefore, €2000 will be put into your account, which is €1000 more than your initial investment.

This is how the process works when using an online broker such as eToro. At the click of a button, you can close your position out for a profit (or a loss), with the funds immediately being put into your trading account. From there, you can either withdraw them to your previously used payment method or reinvest them in another asset.

Conclusion

In conclusion, this guide has covered everything you need to know about buying Bitcoin in Ireland, ensuring you have the information you need to invest safely. Due to the popularity of Bitcoin, the trading process is straightforward these days and can be completed from the comfort of your own home.

So, if you’re looking to buy Bitcoin in Ireland, we’d recommend using eToro. eToro offers 0% commissions when investing in Bitcoin and allow trades from only $25 (€21.55). What’s more, eToro is regulated by a host of top organisations – meaning you can trade safely and confidently on the platform!

Buy Bitcoin at eToro – #1 Broker for Buying Bitcoin in Ireland

etoro logo

67% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

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About Connor Brooke PRO INVESTOR

Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has extensive knowledge in the investing space, and has also written two theses on mutual funds and the UK market.