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Buy Bitcoin BTC
Buying Bitcoin on Europe’s leading retail broker for buying and selling digital assets is easy, fast and secure.
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. For a detailed overview of the risks, please review the Risk Disclosure.
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. For a detailed overview of the risks, please review the Risk Disclosure.
About Bitcoin (BTC)
Bitcoin is the most popular cryptocurrency, both in terms of mainstream awareness as well as buy and sell volume. It is based on an open-source technology and operates with no central authority. This means that nobody owns or controls the network and everyone can take part. Bitcoin was conceived in 2008 by a person or group going by the name Satoshi Nakamoto, whose real identity is still unknown. Bitcoin’s supply is limited to a fixed number of 21,000,000 units.
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How to buy Bitcoin easily, quickly and securely
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Investing in Bitcoin (BTC) and other cryptocurrencies can be done in a few easy steps. Follow this guide to get started with crypto trading on platforms like Bitpanda and build your digital asset portfolio.
1. Choose the right platform to invest
Start by selecting a suitable trading platform that supports Bitcoin (BTC)
Consider features such as security, data protection, and user-friendliness
With the Bitpanda app from the Play Store or App Store, you can invest securely and conveniently on your mobile device
2. Create an account and get started
Register with an email address and create a strong password
Provide necessary personal details
Accept the terms and conditions and privacy policy
Begin the verification process
3. Confirm your identity
Verify your identity to start trading Bitcoin (BTC)
Complete the online verification with a stable internet connection and a valid ID document
4. Deposit funds into your account
Use the Bitpanda website or mobile app to deposit fiat money or other tradable assets into your account
You can deposit via bank transfer, credit card, PayPal or Apple Pay
There are also options to use EPS and SOFORT transfers, giropay, SEPA direct debits and other online payment services such as Skrill and NETELLER
5. Buy Bitcoin and invest in cryptocurrencies
Once the funds are in your account, you can buy Bitcoin (BTC) and other cryptocurrencies
Simply select Bitcoin for purchase, choose a payment method, and confirm the transaction
Buying cryptocurrencies like Bitcoin (BTC) involves risks and can lead to the total loss of the invested capital.
If you are interested in investing in cryptocurrencies like Bitcoin (BTC), Bitpanda offers a user-friendly and secure platform to get started.
Intuitive platform
Our platform features a user-friendly interface that makes buying Bitcoin (BTC), simple for both beginners and experienced traders. With the Bitpanda app, you can conveniently trade cryptocurrencies and other assets on your smartphone.
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Bitpanda operates under strict regulatory guidelines and holds all necessary licenses for crypto brokers. Our business practices and holdings are regularly validated by external auditors. This ensures high security and transparency for every transaction.
Wide range of assets
At Bitpanda, you can invest in more than just cryptocurrencies. We offer over 3,000 different assets, including ETFs, CFDs, stocks, indices, and precious metals. Unlike other crypto exchanges, we guarantee stable prices based on the current market value.
Bitpanda wallet
Your Bitcoin (BTC) and other cryptocurrencies are securely stored in the wallet of your Bitpanda account. You can transfer your digital assets to an external wallet at any time.
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If you have any questions or encounter issues while trading Bitcoin (BTC) or other assets, our customer support team is available 24/7 to assist.
Beginner-friendly products
Bitpanda offers products designed to help you start your crypto investment journey easily. With theBitpanda crypto indices, you can invest in a diversified portfolio of leading cryptocurrencies. TheBitpanda Savings plans allow for regular investments to build long-term wealth.
Analysts frequently predict that cryptocurrency prices will rise due to the increasing acceptance of digital currencies. Early investors could benefit from lower entry prices and potential price increases.
Be aware that cryptocurrencies like Bitcoin are highly volatile, meaning their prices can fluctuate significantly. Global economic events and regulatory changes can impact Bitcoin’s value. The past price performance of Bitcoin (BTC) does not indicate future performance, so it is essential to thoroughly research before investing.
Expand your knowledge with the Bitpanda Academy
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Key information about Bitcoin:
Developed in 2008 by Satoshi Nakamoto as the world’s first cryptocurrency
The maximum number of Bitcoins is limited to 21 million units
Bitcoin (BTC) is the most-traded cryptocurrency
November 2021 saw its price reach an all-time high of $69,045
Satoshi Nakamoto developed Bitcoin (BTC) as the very first cryptocurrency in 2007, and ambiguity surrounds the name which could represent an individual or a group of developers.
As a decentralised currency, Bitcoin's price is not influenced by governments or financial institutions. These transactions offer a high level of anonymity as a Bitcoin address is not linked to a specific person, and are traded privately or on exchanges and stored in digital wallets.
Although individual Bitcoins are not technically tokens, they are often referred to in the context of being digital assets based on blockchain technology.
Bitcoin and the blockchain
Bitcoin operates using a system known as the blockchain, a database updated continuously across countless computers worldwide. Those who provide their computers to maintain the blockchain are rewarded with new Bitcoins, a process known as Bitcoin mining.
This ensures the number of existing BTC coins remains limited, and the price does not undergo significant inflation.
Fixed numbers of Bitcoins counteracts inflation
Whereas banks contribute to inflation by printing more state-controlled fiat currencies like euros or US dollars, Bitcoin is limited to 21 million coins. This makes it especially suitable as payment in countries whose currency loses significant value due to high inflation.
Investing in Bitcoin can protect your wealth against inflation, however its price is also subject to volatile value fluctuations. Start here with Bitpanda Crypto Indices
Bitcoin as a means of payment
The use of Bitcoin has been possible since 2009 however unlike fiat currencies, Bitcoins are not a legal tender although some companies offer payment with cryptocurrency.
With crypto credit cards like the Bitpanda Card, investors can pay with Bitcoin and other cryptocurrencies anywhere credit cards are accepted. Payment is made by converting the deposited Bitcoins into the corresponding fiat currencies at the current rate.
Mitigating Bitcoin price fluctuations
Cryptocurrency prices often fluctuate resulting in different prices per BTC depending on the current rate. One way to mitigate this effect is through regular investments, a strategy known as the cost-average effect. This involves consistently purchasing Bitcoins over time, which helps smooth out the impact of price fluctuations on your overall portfolio.
The Bitpanda Savings Plan makes this possible. Simply choose when to invest, select a fixed-term amount and then monitor your investments. Our overview of cryptocurrency prices allows you to stay informed about important developments. For more details check our guide ‘What is a savings plan’.
Key points to know about Bitcoin:
Satoshi Nakamoto developed Bitcoin in 2007
Bitcoin is a secure, anonymous, and relatively inflation-resistant currency
Since 2009 it has been used as a means of payment or investment
A maximum of 21,000,000 BTC coins or tokens can be generated through mining
Currently, about 19,250,000 BTC coins are in circulation
The last Bitcoin will likely be mined in the year 2140
Halving occurs every four years (next expected in March 2024)
The encryption of the blockchain makes hacking the currency practically impossible
Bitcoin can be digitally stored in software wallets, web wallets, cold wallets, and hardware wallets
Major investors include Tesla, Microstrategy, and Block.One
The first recorded Bitcoin price was $0.0008 per coin. Over the following years, the price gradually increased to a price of $0.03 per BTC. A notable story recounts an investor who paid 10,000 Bitcoins for two pizzas in 2010, an event that sparked huge interest and led its price to soar, reaching nearly $20,000 in 2017.
In November 2021, Bitcoin reached its highest price recorded at $69,045 per coin.
Key milestones and events:
2009: $0.0008 / BTC
2010: $0.03 / BTC
2013: Bitcoin price surpasses $1,000 / BTC for the first time
2017: $19,666 / BTC
2018: BTC price temporarily falls below $3,000 / BTC
2021: current all-time high of $69,045 / BTC
2022: BTC price drops below $20,000 / BTC
End of 2022: BTC price rises above $20,000 / BTC
The Bitcoin hype
As media interest in cryptocurrencies grew, the Bitcoin price chart surpassed $1,000 per coin for the first time in 2013. In 2017 Bitcoin surged to a peak of $19,666 amid widespread hype. There were speculations of deliberate price manipulation contributing to this surge. Subsequently, in 2018, demand waned, causing the price of Bitcoin to briefly drop below $3,000 per BTC.
Increasing interest from large companies
Later the Bitcoin price chart again showed a positive trend. Plans by PayPal to accept Bitcoin as a payment method, large investments by the car manufacturer Tesla in Bitcoin, and people's fear of inflation resulted in the price reaching a new all-time high of $69,045 per BTC on November 10, 2021.
Inflation, regulation and the Bitcoin ban in China
In 2022 governments began planning measures to regulate cryptocurrencies with China banning Bitcoin entirely. Alternative coin supply, some of which saw significant price gains, increased. This combined with the collapse of the FTX crypto platform and the Terra blockchain, created uncertainty and indecision among investors, causing the price of Bitcoin to fall below $20,000 per coin.
However, towards the end of the year, as investors anticipated a decline in the US inflation rate, interest increased and the price of Bitcoin once again surpassed $20,000.
Future price estimations
The price history shows that fluctuations in supply and demand can cause the price per BTC to be highly volatile. Experts and analysts predict significant value increases for Bitcoin in the coming years. These estimates are attributed to declining inflation, improvements in the geopolitical situation, and increased transparency and regulation of crypto firms through new legislation.
Bitcoin currently has the highest market capitalisation among cryptocurrencies, reflecting the value of the coins in circulation in an established fiat currency. This stable position makes Bitcoin the most traded and well-known cryptocurrency.
Inflation and price manipulation
Due to the fixed maximum amount of 21 million Bitcoins and regular halvings, it is unlikely that the number of coins in circulation will increase significantly and cause price inflation.
Sudden changes in the BTC price due to a significant increase in supply are relatively unlikely. However, influential investors like Elon Musk have been able to impact the price of different cryptocurrencies through price-manipulative statements in the past.
Bitcoin in El Salvador
El Salvador has adopted Bitcoin as a legal means of payment alongside the US dollar, where it functions as a decentralised currency free from the influence of states or banks.
This move allows the population to operate independently of international financial systems and protects them from inflation. However, falling Bitcoin prices threaten the country's economic stability.
Due to Bitcoin's volatility, there is little financial predictability in daily life, leading some experts to consider El Salvador's experiment a failure.
Cryptocurrency security
While the blockchain itself is nearly impossible to hack, the security of exchanges and wallets used to store Bitcoin can be vulnerable. In May 2019, hackers stole 7,000 Bitcoins worth $41 million from the crypto exchange Binance.
Attacks like these often lead to a temporary drop in Bitcoin's price as investor demand decreases. Major companies invest in Bitcoin’s development to enhance its security. Key supporters include Blockstream, the blockchain startup Lightning Labs, and the fintech company Spiral (formerly Square Crypto).
Proper wallet storage is crucial for securing your crypto portfolio. Choose strong passwords and do not share them. You can also reduce the risk of fraud by familiarising yourself with common phishing methods and other crypto scams.
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FAQs
Frequently asked questions about Bitcoin
We understand that cryptocurrencies can be complex. We are here to answer your questions about Bitcoin (BTC) and provide you with the information you need to make informed investment decisions.
These businesses accept Bitcoin as a payment method:
Microsoft
Mastercard
PayPal
Expedia
WordPress
Twitch
Lieferando
UNICEF
If the price per BTC increases between purchase and sale, a profit is made. Depending on the country and personal tax situation, profits from the sale of Bitcoin must be taxed differently. Calculations from blockpit.io can provide a good indication of potential taxes.
It is worth hiring a knowledgeable tax advisor to avoid misunderstandings and incorrect taxation.
Current calculations state that the next Bitcoin halving will take place on 27 March 2024, approximately four years after the last Bitcoin halving in May 2020.
Key advantages include:
Increase in value due to the limited total number of coins
High anonymity
High transparency
Independence from banks and governments
High security through blockchain technology
A major disadvantage of Bitcoin is the irreversibility of transactions. While this provides high security for planned and authorised transactions, transfers resulting from scams and other criminal activities cannot be reversed.
Experts and analysts predict a positive price development for Bitcoin in the coming years. This is partly due to an expected decline in the inflation rate. Additionally, crypto experts base their analyses of BTC value on an anticipated stabilisation of the geopolitical situation. However, these forecasts are speculative and cannot guarantee positive price development as past price trends do not indicate future value developments.
Trading Bitcoin is most commonly done through brokers, crypto exchanges, or derivatives. Investors can either buy coins directly or invest in financial products based on Bitcoin. These financial products include certificates and ETFs that track their value.
If you want to buy Bitcoin, you can invest quickly and easily through Bitpanda.
The maximum number of Bitcoins is capped at 21 million coins, the total amount that can be mined. Currently, around 19,250,000 coins have been mined and are stored in wallets or on the blockchain. As wallets are occasionally lost or deleted the true available amount of Bitcoins is even lower.
Many experts predict a positive development for Bitcoin's price in the coming years, so investing in Bitcoins can be worthwhile.
Although Bitcoin has experienced several significant price drops since its inception, it has overall seen immense value growth. However, it is important to note that past price trends do not indicate future value developments.
ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Name Bitpanda Asset Management GmbH, Bitpanda GmbH Relevant legal entity identifier 9845005X9B7N610K0093, 5493007WZ7IFULIL8G21 Name of the crypto-asset Bitcoin Consensus Mechanism Bitcoin is present on the following networks: lightning_network, bitcoin. The Bitcoin blockchain network uses a consensus mechanism called Proof of Work (PoW) to achieve distributed consensus among its nodes. Here's a detailed breakdown of how it works: Core Concepts 1. Nodes and Miners: Nodes: Nodes are computers running the Bitcoin software that participate in the network by validating transactions and blocks. Miners: Special nodes, called miners, perform the work of creating new blocks by solving complex cryptographic puzzles. 2. Blockchain: The blockchain is a public ledger that records all Bitcoin transactions in a series of blocks. Each block contains a list of transactions, a reference to the previous block (hash), a timestamp, and a nonce (a random number used once). 3. Hash Functions: Bitcoin uses the SHA-256 cryptographic hash function to secure the data in blocks. A hash function takes input data and produces a fixed-size string of characters, which appears random. Consensus Process 1. Transaction Validation: Transactions are broadcast to the network and collected by miners into a block. Each transaction must be validated by nodes to ensure it follows the network's rules, such as correct signatures and sufficient funds. 2. Mining and Block Creation: Nonce and Hash Puzzle: Miners compete to find a nonce that, when combined with the block's data and passed through the SHA-256 hash function, produces a hash that is less than a target value. This target value is adjusted periodically to ensure that blocks are mined approximately every 10 minutes. Proof of Work: The process of finding this nonce is computationally intensive and requires significant energy and resources. Once a miner finds a valid nonce, they broadcast the newly mined block to the network. 3. Block Validation and Addition: Other nodes in the network verify the new block to ensure the hash is correct and that all transactions within the block are valid. If the block is valid, nodes add it to their copy of the blockchain and the process starts again with the next block. 4. Chain Consensus: The longest chain (the chain with the most accumulated proof of work) is considered the valid chain by the network. Nodes always work to extend the longest valid chain. In the case of multiple valid chains (forks), the network will eventually resolve the fork by continuing to mine and extending one chain until it becomes longer. For the calculation of the corresponding indicators, the additional energy consumption and the transactions of the Lightning Network have also been taken into account, as this reflects the categorization of the Digital Token Identifier Foundation for the respective functionally fungible group (“FFG”) relevant for this reporting. If one would exclude these transactions, the respective estimations regarding the “per transaction” count would be substantially higher. Incentive Mechanisms and Applicable Fees Bitcoin is present on the following networks: lightning_network, bitcoin. The Bitcoin blockchain relies on a Proof-of-Work (PoW) consensus mechanism to ensure the security and integrity of transactions. This mechanism involves economic incentives for miners and a fee structure that supports network sustainability: Incentive Mechanisms 1. Block Rewards: Newly Minted Bitcoins: Miners are incentivized by block rewards, which consist of newly created bitcoins awarded to the miner who successfully mines a new block. Initially, the block reward was 50 BTC, but it halves every 210,000 blocks (approx. every four years) in an event known as the "halving." Halving and Scarcity: The halving mechanism ensures that the total supply of Bitcoin is capped at 21 million, creating scarcity and potentially increasing value over time. 2. Transaction Fees: User Fees: Each transaction includes a fee paid by the user to incentivize miners to include their transaction in a block. These fees are crucial, especially as the block reward diminishes over time due to halving. Fee Market: Transaction fees are determined by the market, where users compete to have their transactions processed quickly. Higher fees typically result in faster inclusion in a block, especially during periods of high network congestion. For the calculation of the corresponding indicators, the additional energy consumption and the transactions of the Lightning Network have also been taken into account, as this reflects the categorization of the Digital Token Identifier Foundation for the respective functionally fungible group (“FFG”) relevant for this reporting. If one would exclude these transactions, the respective estimations regarding the “per transaction” count would be substantially higher. Beginning of the period 2024-01-30 End of the period 2025-01-30 Energy consumption 190164059300.37384 (kWh/a) Energy consumption resources and methodologies The energy consumption of this asset is aggregated across multiple components: For the calculation of energy consumptions, the so called “top-down” approach is being used, within which an economic calculation of the miners is assumed. Miners are persons or devices that actively participate in the proof-of-work consensus mechanism. The miners are considered to be the central factor for the energy consumption of the network. Hardware is pre-selected based on the consensus mechanism's hash algorithm: SHA-256. A current profitability threshold is determined on the basis of the revenue and cost structure for mining operations. Only Hardware above the profitability threshold is considered for the network. The energy consumption of the network can be determined by taking into account the distribution for the hardware, the efficiency levels for operating the hardware and on-chain information regarding the miners' revenue opportunities. If significant use of merge mining is known, this is taken into account. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. To determine the energy consumption of a token, the energy consumption of the network(s) lightning_network is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. Renewable energy consumption 15.116111393 (%) Energy intensity 13.08498 (kWh) Scope 1 DLT GHG emissions - Controlled 0.00000 (tCO2e/a) Scope 2 DLT GHG emissions - Purchased 78346843.43845 (tCO2e/a) GHG intensity 5.39096 (kgCO2e) Key energy sources and methodologies To determine the proportion of renewable energy usage, the locations of the nodes are to be determined using public information sites, open-source crawlers and crawlers developed in-house. If no information is available on the geographic distribution of the nodes, reference networks are used which are comparable in terms of their incentivization structure and consensus mechanism. This geo-information is merged with public information from the European Environment Agency (EEA) and thus determined. Key GHG sources and methodologies To determine the GHG Emissions, the locations of the nodes are to be determined using public information sites, open-source crawlers and crawlers developed in-house. If no information is available on the geographic distribution of the nodes, reference networks are used which are comparable in terms of their incentivization structure and consensus mechanism. This geo-information is merged with public information from the European Environment Agency (EEA) and thus determined.
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