How And Where to Buy Crypto & Bitcoin in Germany (2024)

Don’t know how to buy crypto in Germany? You’ve come to the right place! In this guide, we’ll walk you through the steps to purchase Bitcoin and other virtual currencies safely and efficiently in Germany.

How to buy crypto in Germany: A step-by-step guide

Once purchased, your cryptocurrency will be in your account wallet.

Transaction fees may vary, and some exchanges might need extra identification for larger trades or regulatory compliance. And always invest wisely, considering the risks involved in crypto trading.

What is the best way to buy crypto and bitcoin in Germany?

Option #1: Crypto exchanges

Cryptocurrency exchanges are platforms where people can buy, sell, and trade digital currencies. 

Research shows there are over 300 exchanges worldwide for trading cryptocurrencies from which you can choose. Prices for the same cryptocurrency can differ by up to USD 1000 across these platforms.

There are two types of exchanges: centralized and decentralized.

Centralized exchanges

Centralized cryptocurrency exchanges act as marketplaces where users can do various crypto transactions. Centralized exchanges are run by one entity, managing user accounts and keys. Users rely on the exchange to handle their assets and transactions.

Decentralized exchanges

Decentralized exchanges (DEXs) are on the blockchain, enabling crypto trading without a central authority or intermediaries. They use automated market makers (AMMs) or order books to match trades, with users holding funds in smart contracts.

📚Related: Centralized vs. Decentralized Crypto Exchanges

Option #2: Bitcoin ATM

Cryptocurrency ATMs, also known as Bitcoin ATMs or BTMs, are machines where users can buy Bitcoin and other cryptocurrencies using regular money. They work like traditional ATMs but for digital assets.

How do crypto ATMs work? Well, users can deposit cash and choose their desired cryptocurrency, with the Bitcoin ATM giving them the right amount. Users can insert cryptocurrency for withdrawals and get the equivalent cash after verification.

In Germany, Bitcoin ATMs are spread across cities like Berlin, Hamburg, Hannover, and others. Users can quickly find the nearest Bitcoin ATM through online platforms and maps provided by the ATM operators.

Option #3: Crypto on-ramps

Crypto on-ramps are services or platforms that let users exchange fiat currencies for cryptocurrencies, usually through bank transfers, credit, or debit cards.

Crypto on-ramps offer a user-friendly experience and access to the crypto market. Moreover, usually, they use advanced security measures like two-factor authentication and encryption to protect users’ funds and ensure smooth trading with high liquidity.

However, drawbacks include varying charges, lengthy identity verification processes, and increased risk of fraud due to limited regulation.

📚Learn More: Crypto On-Ramps and Off-Ramps

Option #4: Peer-to-peer exchanges

Peer-to-peer (P2P) platforms allow direct trading of crypto assets between buyers and sellers without using middlemen.

These platforms offer more privacy than regular online transactions and support trading various cryptocurrencies using different payment methods. P2P exchanges are handy for trading less popular or high-value assets while avoiding extra fees.

Option #5: Crypto brokers

Cryptocurrency brokers help you trade cryptocurrencies for regular money like USD or EUR. They connect buyers and sellers, often through online platforms.

Users can open accounts with online brokers to trade various assets, including cryptocurrencies and stocks, using contracts for difference (CFD).

Option #6: Crypto converters

Crypto converters allow users to exchange one cryptocurrency for another or fiat currency. These platforms usually operate centrally, requiring users to keep their funds within the platform.

Crypto converters make switching between cryptocurrencies simple, offering a wide variety of options to choose from. They provide real-time exchange rates but may not be as precise and could charge transaction fees.

Moreover, they’re not ideal for advanced trading strategies.

Option #7: OTC trading

Over-the-counter (OTC) trading is when cryptocurrency transactions happen directly between two parties, bypassing public exchanges. It’s also called off-exchange or pink sheet trading.

Crypto brokers are easy to use, especially for new traders. They process transactions quickly, with round-the-clock customer support for added convenience.

Your funds are secure, as brokers are regulated in all jurisdictions. However, they offer a limited selection of cryptocurrencies and fewer trading tools, and their trading fees can be higher.

Best Crypto Exchanges to Buy Bitcoin in Germany

Choosing the best crypto exchange in Germany varies based on personal preferences. However, we prepared a short overview of some of Germany’s most popular crypto exchanges.

These exchanges offer low fees, robust security, and convenient payment methods for German users looking to purchase Bitcoin. Before selecting an exchange, consider your specific needs and preferences to find the best fit for you.

Best centralized exchanges

Centralized exchanges (CEXs) are run by one company, holding users’ funds like traditional stock exchanges. Many users prefer CEXes due to their user-friendly experience, ease of use, and low fees.

Despite being centralized, CEXes are more popular than decentralized markets, potentially affecting cryptocurrency decentralization.

Here are the best centralized exchanges to buy Bitcoin in Germany:

#1 Bitcoin.de

Bitcoin.de, established in 2011, is a platform for trading bitcoins and other cryptocurrencies. 

Trusted by over a million users in Germany, it enables direct user transactions and offers additional marketplaces for trading with Futurum Bank AG and crypto-to-crypto transactions.

Main features:

• Strict protocols to safeguard user funds.
• An intuitive interface for traders of all levels.
• Numerous cryptocurrencies for portfolio diversification.

#2 Kraken

Kraken, a US-based cryptocurrency exchange established in 2011, enables users to trade various cryptocurrencies. However, in 2023, the SEC accused Kraken of unlawfully offering and selling unregistered securities through its staking service.

The complaint centres on Kraken’s staking service, which allegedly involved selling investment contracts without proper registration.

Main features:

• Up to 26% annually in staking rewards.
• Real-time and reference rate indices.
• A wide range of trading pairs.

#3 Bitstamp

Bitstamp is a European crypto exchange launched in 2011. It allows trading in fiat currency, Bitcoin, and other cryptocurrencies. The exchange was created as a European alternative to Mt. Gox.

Bitstamp accepts free fiat currency deposits through the European Union’s Single Euro Payments Area, making money transfers between European bank accounts easier.

Main features:

• Proven security measures.
• Low fees.
• Diverse advanced trading features.

#4 Bitpanda

Bitpanda, formerly Coinimal, renamed in 2016, is an Austrian company founded in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer. 

Based in Vienna, Bitpanda offers a user-friendly mobile app for its trading platform, covering cryptocurrency exchange, commodities, securities trading, and ETFs.

Main features:

• Numerous cryptocurrencies are available.
• Intuitive interface.
• Various payment and withdrawal options.

#5 OKX

OKX is a leading global cryptocurrency exchange, second in trading volume worldwide, serving over 50 million users globally. Established by Star Xu in 2017, it offers a platform for investors to purchase Bitcoin, Ethereum, and various other cryptocurrencies.

Main features:

• A variety of cryptocurrencies and trading pairs are available.
• A diverse selection of advanced trading tools.
• Low trading fees.

📚Related: Centralized vs. Decentralized Crypto Exchanges (CEX vs. DEX)

Best decentralized exchanges

According to scientists, decentralized exchanges (DEXs) have become an alternative trading platform for cryptocurrency assets.

These platforms are not run by one company and use smart contracts to enable on-chain trading through automated market makers (AMM). It makes them more secure but can be harder to use.

Here are the best decentralised exchanges to buy Bitcoin in Germany:

#1: Uniswap

Uniswap is a popular platform for trading Ethereum tokens. It’s easy to use and handles a lot of transactions. If you want to trade different Ethereum tokens easily, Uniswap is a good choice. It’s designed to be user-friendly, so you won’t have trouble figuring it out.

Main features:

• Lots of liquidity.
• Wide selection of ERC-20 tokens.
• Easy-to-use interface.

#2 PancakeSwap

PancakeSwap shines on the Binance Smart Chain, offering easy swapping for BEP-20 tokens. It’s praised for its low fees and extra features like farming and staking. 

If you’re looking for a Binance Smart Chain platform with earning opportunities and minimal fees, PancakeSwap is a top pick.

Main features:

• Trade BEP-20 tokens.
• Farming and staking features.
• Low fees for transactions.

#3 Curve

Curve is great for trading stablecoins smoothly with minimal price changes. It works across various blockchains, offering lots of options. It’s perfect if you want to trade stablecoins without big price swings.

Main features:

• Focuses on stablecoins and pegged assets.
• Supports multiple blockchains.
• Enables low-slippage trading.

#4 dYdX

dYdX stands out as a decentralized exchange specializing in derivatives and margin trading. Here, you can engage in advanced trading activities such as leveraging with perpetual contracts. 

It’s ideal for traders seeking more sophisticated options, offering decentralized access to such unique features.

Main Features:

• Specializes in derivatives and margin trading.
• Offers up to 20x leverage.
• Supports perpetual contracts.

#5 Balancer

Balancer goes beyond being a simple trading platform. This decentralized exchange doubles as a portfolio management tool, allowing users to create or join pools with up to eight different tokens.

It’s an excellent choice for diversifying investments across various DeFi assets, especially for those interested in advanced liquidity strategies.

Main features:

• Supports up to eight tokens per pool.
• Automated portfolio management.

📚Read More: Best Decentralized Crypto Exchanges

Best crypto wallets to buy Bitcoin in Germany

#1 swissmoney

Introduced in 2021, the swissmoney wallet is a versatile solution for holding and spending cryptocurrencies. swissmoney emphasizes security and ease of use, addressing challenges traditional banks face regarding cryptocurrencies.

Developed by Swiss experts, it allows users to deposit, receive, sell, and buy Bitcoin and other cryptocurrencies, transfer fiat money, and obtain a payment card with high daily spending limits.

Main features:

• Support for crypto and traditional financial services.
• Multiple deposit methods.
• No strict limits on card payments.
• Simple and speedy onboarding procedure.
• Accessible on Apple Store and Google Play.

#2 Trust Wallet

Trust Wallet is a Web3 wallet allowing crypto transactions, Bitcoin purchases, NFT management, and DApp discovery. It comes in mobile and browser extension versions.

Trust Wallet includes features such as Secure Enclave and biometrics, emphasizing security and ensuring user privacy without sharing personal details. Overall, it’s user-friendly and highly secure.

Main features:

• Access to Web3 dApps and DeFi protocols.
• Access to NFT marketplaces.
• Does not require personal data.

Read More: How to Withdraw From Trust Wallet

#3 Exodus Wallet

Established in 2015, Exodus is an easy-to-use software wallet. It lets you manage and store Bitcoin and other cryptocurrencies and keep your money in any available foreign currency.

It offers mobile, desktop, and Web3 versions, supporting various cryptocurrencies. Its user-friendly interface is available on desktop (Windows, macOS, Linux) and mobile (iOS, Android) platforms.

Main features:

• User-friendly interface for a great user experience.
• Includes built-in exchange capabilities.
• Provides staking rewards within the wallet.
• Available on desktop and mobile devices.

#4 Coinbase

Coinbase, the biggest crypto exchange in the US, is favoured by investors. It offers a trusted platform with a user-friendly interface, diverse cryptocurrencies, and chances to earn free crypto.

Emphasizing regulatory compliance ensures secure trading. The Coinbase personal wallet is known for its security and simplicity, catering to crypto users of all levels.

Main features:

• Simple wallet interface.
• Accessible in 130+ countries.
• Comprehensive educational materials.

📚Related: How to Withdraw from Coinbase

#5 Gemini

Gemini, established by cryptocurrency pioneers Cameron and Tyler Winklevoss, offers a user-friendly interface for diverse buying and selling options.

The official website states that it serves as a cryptocurrency exchange and custodian, holding SOC1 Type 2 and SOC 2 Type 2 certifications for security. It should, however, be noted that the exchange has been the victim of data breaches, leading to users receiving phishing emails.

Main features:

• A diverse selection of digital assets.
• Smooth fiat on-ramps.
• Insurance coverage for specific digital asset losses.

Best crypto P2P platforms to buy Bitcoin in Germany

Here are some of the most popular P2P (Peer-to-peer) platforms to purchase Bitcoin in Germany.

#1 Bisq

Bisq is a decentralized peer-to-peer (P2P) cryptocurrency exchange. It lets users buy and sell cryptocurrencies directly without intermediaries or trust third parties.

Unlike centralized exchanges, Bisq doesn’t store users’ funds, reducing associated risks. It matches buyers and sellers through a network of nodes, facilitating direct trades.

Main features

• Decentralized system with no single points of failure.
• No need for personal information during signup.
• Supports multiple fiat currencies and cryptocurrencies.
• Open-source software for community development and transparency.

#2 Paxful

Paxful is another peer-to-peer cryptocurrency exchange where users can trade Bitcoin and other cryptocurrencies directly without intermediaries.

It supports various payment methods and offers a mobile wallet app for managing holdings. Paxful ensures secure transactions and operates globally to provide equal access to finance in a safe environment for trading and earning with crypto.

Main features

• 350+ options, including online bank transfer, Apple Pay, and PayPal.
• User-friendly on mobile and desktop.
• Available in 150+ countries, supports 20+ languages.
• 24/7 assistance, FAQs, forums, and account monitoring.

#3 Hodl Hodl

Hodl Hodl is a Bitcoin trading platform focusing on privacy and security. It allows quick cash-out without intermediaries or complex verification. Users sign up easily and need their own Bitcoin wallet.

The platform supports only Bitcoin and doesn’t hold users’ funds. It also offers a lending service using Bitcoin as collateral, with some concerns about its terms.

Main features

• Direct user-to-user trades, with funds locked in multisig escrow.
• Global P2P trading platform, available in over 150 countries.
• Supports over 100 payment methods, enhancing security and efficiency.
• Enables direct Bitcoin trades between users, eliminating intermediaries.

📚Read More: Best Crypto Exchanges in Germany

Best OTC trading platforms to buy Bitcoin in Germany

Here are some of the well-regarded OTC cryptocurrency trading platforms that operate in Germany:

#1 Kraken OTC

Kraken OTC offers personalized one-on-one service with a dedicated account manager for trading and settlement. It provides a wide range of cryptocurrencies for more trading options and competitive pricing.

Kraken OTC caters to high-net-worth individuals and institutions with its highly personalized service. The platform seamlessly integrates with Kraken’s regular exchange for easy transfers between accounts.

Main features:

• Flexible settlement options within 24 hours.
• Support for trades over chat.
• Request-For-Quote system for customized trades.
• 1-on-1 service for clients.
• 24/7 support for traders.

#2 Coinbase Prime OTC desk

Coinbase Prime operates an OTC crypto trading desk for financial institutions. It offers services like OTC block trading, algorithmic orders, margin finance, and advanced market data.

Additionally, it provides financing solutions such as lending, margin, and shorting for refining trading strategies in bull and bear markets.

Main features:

• Access to major exchanges worldwide.
• Lending, margin, and shorting options.
• Safehold of various assets, including cryptocurrencies.

#3 Bitfinex OTC

Bitfinex OTC, provided by Bitfinex, a digital asset trading platform, offers advanced services for digital currency traders and global liquidity providers. This feature allows executing larger trades directly with a counterparty, bypassing public order books.

Main features:

• Personalized service.
• Flexible settlement options.
• Seamless integration with Bitfinex’s regular exchange platform.
• Competitive pricing.
• Instant execution with a request-for-quote system.

How to buy cryptocurrency in Germany safely

Here are precautionary steps you should take when purchasing Bitcoin in Germany:

Step 1: Choose a reputable platform.

Regulations. Opt for platforms regulated by BaFin (German Federal Financial Supervisory Authority). They offer security measures and consumer protection.

Reputation. When evaluating a crypto platform:

1. Check reviews on Trustpilot to gauge its reliability.
2. Monitor its social media engagement.
3. Look at news articles for any positive or negative coverage.
4. Choose platforms with a solid history and no major issues.

Step 2: Give attention to security.

Select a crypto platform with robust security measures, including encryption, two-factor authentication (2FA), cold storage, regular audits, and insurance.

Remember that the FDIC does not provide insurance for cryptocurrency exchanges or cryptocurrency itself.

Step 3: Start small.

Invest wisely by only using money you can afford to lose due to market volatility. Research thoroughly before investing in any cryptocurrency. 

Spread your investments across different cryptocurrencies to reduce risk. Moreover, stay updated on the latest news and trends in the crypto market.

Step 4: Be aware of tax implications.

Short-term trading profits from cryptocurrency are taxed based on your income bracket, with exemptions for smaller gains. Income from Bitcoin mining or airdrops is also taxed based on earnings.

However, holding cryptocurrency for over a year usually means tax-free profits, a benefit compared to other countries.

Remember to report your crypto income if it exceeds exemptions or if you engage in specific activities.

For more details, visit the website of the German Federal Ministry of Finance.

📚Related: Best Crypto Friendly Banks in Europe

What are the top payment methods for buying crypto in Germany?

The top payment methods for buying cryptocurrency in Germany include:

1. SEPA transfers: Offered by both regulated exchanges and established platforms, such as Bitpanda, BSDEX, eToro, Coinbase, and Kraken. Fees may vary.
2. Credit/debit cards: Available on regulated exchanges like Bitpanda and eToro and established platforms like Coinbase and Kraken. Fees can be higher, and caution is advised due to potential risks, especially on platforms not regulated by BaFin.
3. PayPal: Recently introduced by Coinbase for German users, providing a familiar and convenient payment option.
4. Cash deposits: Accepted by some cryptocurrency brokers in Germany, offering an alternative for users without a bank account or credit card.
5. Bank transfers: Another popular payment method for buying cryptocurrency in Germany, known for its security and reliability.

Is cryptocurrency legal in Germany?

In Germany, cryptocurrency is considered legal but not recognized as legal tender or currency. Instead, it is classified as a financial instrument or asset subject to regulations and laws governing financial activities.

What regulations govern cryptocurrency in Germany?

Germany oversees cryptocurrency exchanges via the Federal Financial Supervisory Authority (BaFin), ensuring compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.

Additionally, in 2020, Germany introduced a law requiring all cryptocurrency exchanges to obtain a license from BaFin to operate within the country. 

This mandate applies to any business catering to the German market, regardless of location, necessitating written authorization from BaFin.

What are the tax implications for crypto transactions in Germany?

In Germany, cryptocurrency is subject to taxation, with two main implications:

• The tax office taxes short-term gains, while long-term profits are tax-free.
• Crypto gains are tax-free if they are less than €600 or the holding period exceeds one year.

The tax rate for crypto gains corresponds to the ordinary personal income tax rate, typically ranging from 14% to 45% plus a 5.5% solidarity surcharge.

Additionally, individuals are exempt from taxes if they earn up to a maximum of €256 per year through activities such as mining, forging, staking, lending, operating a master node, or airdrops for consideration.

Why buy crypto on swissmoney?

Discover the ease and convenience of buying crypto on swissmoney! With swissmoney, you get an all-in-one solution for managing your finances, whether fiat or cryptocurrency. 

Enjoy seamless spending, sending, and receiving of both currencies and buy Bitcoin, Ethereum, and other cryptocurrencies on one user-friendly platform. Plus, rest assured with swissmoney’s top-notch security and regulatory compliance. 

Moreover, you get dedicated IBAN accounts and virtual payment cards that you can top up instantly with crypto. 

Don’t miss out on the ultimate crypto experience – choose swissmoney today!

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Methodology: How we chose the top platforms for buying crypto in Germany

We conducted a thorough evaluation of the leading platforms for buying crypto in Germany, examining features, pricing, supported currencies, and reputation based on independent sources and user feedback.

We focused on platforms offering robust security, competitive fees, and advanced trading features. The summaries provide a brief overview of our findings, including an analysis of trading tools and deposit options, for each platform type.

FAQs

Can I buy Bitcoin in Germany?

Yes, you can buy Bitcoin in Germany. There are numerous options for purchasing Bitcoin, including reputable cryptocurrency exchanges, over-the-counter brokers, and Bitcoin ATMs nationwide.

How can I buy Bitcoin online in Germany?

Yes, you can buy Bitcoin online in Germany through various platforms and methods. Some popular options include cryptocurrency exchanges, Bitcoin ATMs, and crypto brokerage apps.

Is Germany a crypto-friendly country?

Yes, Germany is known as one of the most crypto-friendly countries in the European Union. The country accepts Bitcoin as a valid form of payment and has established strong regulations to safeguard the cryptocurrency market and encourage its development.

Is it safe to buy crypto in Germany?

Yes, it’s safe to buy crypto in Germany. The country has clear rules for cryptocurrencies. Moreover, there are many trusted exchanges and platforms for purchasing digital assets.

Where can I buy Bitcoin from Germany?

In Germany, you can buy Bitcoin through various platforms:

• Cryptocurrency exchanges Bitpanda and Bitcoin.de.
• Using crypto wallets with built-in exchanges like swissmoney.
• Bitcoin ATMs.
• Peer-to-peer marketplaces like Bitcoin.de.
• Online payment services like Changelly and Coinmama.

What is the easiest way to buy Bitcoin in Germany?

The easiest way to buy Bitcoin in Germany is through cryptocurrency exchanges like swissmoney, Bitpanda, and Bitcoin.de. These platforms accept various payment methods, such as credit cards, bank transfers, and online payment services.

Another method is Bitcoin ATMs, which you can find in busy urban areas. They also offer a convenient way to buy Bitcoin using cash.

What are the most popular cryptocurrencies to buy in Germany?

Some of the most popular cryptocurrencies to buy in Germany are:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Ripple (XRP)
• Dogecoin (DOGE)

These cryptocurrencies are widely available on exchanges and platforms in Germany.

What are the fees for buying crypto in Germany?

The trading fees vary depending on the platform or exchange used. However, typically, fees for buying crypto in Germany range from 0% to 0.35%. Keep in mind that you may also incur deposit and withdrawal fees.

Which crypto exchange is best in Germany?

It is hard to tell which crypto exchange is the best in Germany. There are many platforms, each with unique features and benefits. Here are some popular options:

• swissmoney: A great choice for everyday transactions in fiat and cryptocurrencies.
• Bitvavo: Suitable for European crypto newcomers seeking an easy-to-use platform with minimal trading fees.
• Bitpanda: Popular for its intuitive interface and various payment options.
• Coinmetro: An option for ambitious crypto traders who want advanced tools, low fees, and a regulated environment.
• Trade Republic: Great for beginners and casual investors prioritizing commission-free trades.

When choosing a crypto exchange, consider security, ease of use, available cryptocurrencies, fees, and customer support. Conduct thorough research to match your specific trading needs before making a decision.

Which Bitcoin wallet is best in Germany?

The ideal Bitcoin wallet largely depends on your requirements. Nonetheless, among the top choices for users in Germany are swissmoney, MetaMask, and OKX. These wallets let you easily buy and sell Bitcoin at any time.

When selecting a Bitcoin wallet, prioritize security, usability, and compatibility with various cryptocurrencies. Additionally, decide between a hot wallet (software) and a cold wallet (hardware device) based on personal preferences and security considerations.

Can you buy Bitcoin anonymously in Germany?

Yes, it’s possible to purchase Bitcoin anonymously in Germany, though it’s tough to achieve complete anonymity while complying with regulations. Some platforms offer buying and selling Bitcoin anonymously using bank transfers and mobile payments.

However, anonymous trading may come with higher costs and a greater risk of fraud. Therefore, it’s crucial to still adhere to anti-money laundering laws.

Where can I buy Bitcoin with the lowest fees in Germany?

Here are some crypto exchanges with the lowest fees for buying Bitcoin in Germany:

• Coinmetro: 0% maker fee and 0.1% taker fee.
• swissmoney: General 0.18% maker and taker fees.
• Bitvavo: Pricing and fees: 0.00-0.15% maker and 0.02-0.25% taker fee.
• Trade Republic: 1,00 € per single trade for external settlement cost. 

Remember that fees may change over time, so check current rates before trading.

Can you pay with Bitcoin in Germany?

Yes, Bitcoin is accepted as a form of payment in various places in Germany. However, acceptance can vary depending on the specific merchant or establishment.

How do I cash out crypto in Germany?

To cash out cryptocurrency in Germany, you typically sell Bitcoin or any other coins for fiat currency. You can use crypto-to-fiat exchange services or trade it on peer-to-peer (P2P) platforms. These methods may also incur withdrawal fees.

Here is what you need to do:

• Select a reliable platform that complies with German regulations and is licensed by BaFin. 
• Verify your identity on the chosen platform and deposit crypto assets.
• Specify the amount and the type of payment you prefer.
• Place a sell order for your desired cryptocurrency.
• Receive the payment in fiat.

📚Learn More: How to Exchange Crypto for Fiat

Alternatively, you can spend your crypto in real life with crypto debits like a swissmoney card.

Crypto debit cards work like regular Visa or Mastercard. Usually, they are linked to a crypto wallet or account, converting crypto to regular money during transactions.

Therefore, they let you spend cryptocurrency directly without converting it to fiat currency first, offering better transaction privacy and lower fees than traditional exchanges.

However, they may support only a few virtual currencies, and a third-party provider holds your crypto, possibly leading to currency conversion fees.

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