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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
- Popular Exchanges to Buy Bitcoin in Cyprus
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Coinbase- High liquidity and buying limits
- Easy way for newcomers to get bitcoins
- "Instant Buy" option available with debit card
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Coinmama- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
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eToro- Supports Bitcoin, Ethereum & 15 other coins
- Start trading fast; high limits
- Your capital is at risk.
We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Coinbase Popular Buy Bitcoin Read Review
Coinbase is the world's largest Bitcoin (BTC) broker. They represent an easy and fast way for new users to purchase bitcoins. Coinbase supports customers in over 30 countries, including the United States, Europe (besides Germany), UK, Singapore, Canada, and Australia.
Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.
We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms.
- High liquidity and buying limits
- Easy way for newcomers to get bitcoins
- "Instant Buy" option available with debit card
- Purchases made with bank transfer can take up to 5 days to complete
- Coinbase may track how and where you spend your bitcoins
Coinmama Popular Buy Bitcoin Read Review
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.
- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
- Some of the highest fees among credit/debit card bitcoin brokers
Bitpanda Popular Buy Bitcoin Read Review
Bitpanda is a Bitcoin broker based in Europe.
They have high payment limits and low fees across their wide range of payment methods.
Bitpanda offers customers the option to buy bitcoins with credit card, debit card, SOFORT, Skrill, NETELLER, giropay, eps, SEPA, and Online Bank Transfer.
Our guide will show you how to buy bitcoins with a credit card on Bitpanda.
We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms.
- Some of the lowest fees for buying bitcoins with credit/debit card
- Reliable and trusted broker
- Fees aren't shown openly on the site but instead included in the buying price
Coinbase Pro Popular Buy Bitcoin Read Review
Coinbase's exchange, Coinbase Pro, is one of the largest Bitcoin exchanges in the United States. Users can fund their accounts via bank transfer, SEPA, or bank wire. Coinbase Pro offers good prices and low fees, but their confusing user interface may initially prove difficult to navigate.
We may receive compensation when you use Coinbase Pro. Please visit Coinbase Pro for its exact pricing terms.
- Some of the lowest fees available for US and EU customers
- Possible to buy bitcoins for 0% fees
- User interface is confusing for first time buyers
CEX.io Buy Bitcoin Read Review
CEX.io lets you buy bitcoin with a credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Purchases made with a credit card give you access to your bitcoin immediately. CEX.io works in the United States, Europe, and certain countries in South America.
We may receive compensation when you use CEX.io. Please visit CEX.io for its exact pricing terms.
- Support for many countries and regions
- Low 0.2% trading fee
- Established and trusted exchange
- Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
- GBP market lacks liquidity
LocalBitcoins Popular Buy Bitcoin Read Review
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.
- Can be private, fast and easy
- In-person trades require no personal information
- Purchases of bitcoin can be made quickly via cash deposit
- Beware of scams; always follow the rules!
- Harder to buy large amounts of bitcoins compared to large exchanges
- Slightly to significantly higher prices than regular exchanges; premium for higher privacy
Kriptomat Buy Bitcoin
Kriptomat is a Bitcoin & crypto exchange based in Europe. It offers quick verification and the ability to buy bitcoin, ether, litecoin and other coins. Buyers can get coins using a credit card, debit card, SEPA, Skrill, Sofort and other payment methods.
- Available in 23 languages
- Quick verification process
- Limited payment methods
- Only supports EU countries
Kraken Buy Bitcoin Read Review
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.
- Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
- Very low maker fee, falling to 0% with sufficient trading volume
- Highly-rated for security and data protection
- Requires ID verification, so not private
Paymium Buy Bitcoin
Paymium was the first European Bitcoin exchange, founded in 2011. It provides a EUR/BTC exchange service, and complies with all relevent European Regulations. Customers can purchase bitcoins via SEPA, wire transfer, or credit card.
- Established and trusted exchange
- Mobile app available
- ID verification required for amounts over €2,500, so not private
Bity Buy Bitcoin
Bity is a Bitcoin exchange and ATM operator, based in Switzerland. Their 5 ATMs allow for a quick first purchase and only require phone verification for an initial buy limit of 1,000 EUR or CHF. Their online service accepts wire transfers, SOFORT and online bank transfers.
- Easy to start buying bitcoins after mobile phone verification
- Payment limit of up to €100,000 annually after intensive verification
- ID verification is required for most purchases, so not a private way to buy
- Low annual limit of only €4,000 without intensive verification
Bitstamp Buy Bitcoin
BitStamp is one of the world's largest and most well-known Bitcoin exchanges. Deposits can be made through bank transfer, SEPA transfer, international bank wire, and now even credit cards.
- One of the longest-running Bitcoin exchanges
- Very low 0.25% fee, falling to 0.1% with sufficient trading volume
- Good range of deposit and withdrawal options
- Deep liquidity promotes a price close to fair market rate
- Offers wide range of altcoins
- Has been hacked before, users should not store funds on the exchange for any period of time
- High 8% fee on small credit card purchases, falling to 5% with sufficient trading volume
- Geared towards traders; slightly confusing for first time buyers
CoinCorner Buy Bitcoin
CoinCorner is a Bitcoin exchange based on the Isle of Man. They cater to first-time buyers in the UK, Europe, Canada, Australia, and certain African, Asian, and South American countries. CoinCorner users may purchase bitcoins with SEPA, credit/debit card, GBP bank transfer, and now Neteller too. No verification required for purchases under £100.
We may receive compensation when you use CoinCorner. Please visit CoinCorner for its exact pricing terms.
- Trusted and regulated company in the UK
- Wide range of payment options
- Good customer support
- Instant credit card purchases
- Supports a very wide range of countries
- Video tutorials covering the basics of Bitcoin and buying and selling
- Multi-sig security features
- 1% trading fee slightly high by European standards
- Offers a mobile wallet but this is not ideal for bitcoin storage
- Requires ID verification, so not private
- Does not provide exchange prices for comparison without sign-up
Bitcoin ATMs Buy Bitcoin
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
- Our map makes it super easy to find a Bitcoin ATM near you
- Bitcoin ATMs often have 5-10% fees per purchase
Bitit Buy Bitcoin Read Review
Bitit lets you purchase bitcoin online with a 3DS-enabled credit/debit cards or with cash via Neosurf, Flexepin (coming soon) and Cashlib vouchers, available in over 150,000 local stores across Europe.
We may receive compensation when you use Bitit. Please visit Bitit for its exact pricing terms.
- Unique way of purchasing offers extra privacy over other methods
- 8% Neosurf fee is slightly better than Coinhouse's 10%
- Available in 50 countries
- €10,000 initial weekly Neosurf cash payment limit
- Bitcoin gift cards also available; more expensive than other options
- In-person buying methods offer more privacy but can be confusing
- Identity verification required for buying amounts over €25
- €500 initial weekly credit/debit card limit
itBit Buy Bitcoin Read Review
itBit is a global Bitcoin exchange, licensed with the New York State Department of Financial Services. It also operates a global OTC trading desk, making it easy for customers to buy large amounts (100 BTC and up) of bitcoin. It supports all US states besides Texas.
- OTC trading desk is one of the best ways to buy large amounts of bitcoins
- Deep liquidity promotes a price close to fair market rate
- Extremely low fees; 0% for market makers and 0.2% for market takers
- Fee on OTC brokering service is only 0.1%
- Limited payment options
- Geared towards traders; exchange interface may be confusing for first time buyers
- Requires ID verification, so not private
Bitfinex Buy Bitcoin
Hong Kong-based Bitfinex has long been one of the largest USD Bitcoin exchanges in the world. Bitfinex accounts may be funded by bank wire only, their fee on accepting such transfers is low at only 0.1%.
In August 2016, however, it was hacked and lost around 30% of its users funds. While Bitfinex can be helpful for buying large amounts of bitcoins, it is probably best to not use the exchange until it fully compensates affected users.
- Very low fees even for low volume buyers; 0.1% for market makers and 0.2% for market takers
- One of the best ways to buy large amounts of bitcoins
- Allows lending of fiat or bitcoin to margin traders at interest (but this is risky in light of the hack)
- Very deep liquidity promotes a price close to fair market rate
- Supports several altcoins
- Was recently hacked and has yet to fully compensate all users for their loss
- Geared towards traders; possibly quite confusing for first time buyers
- Single payment option
Mycelium Local Trader Buy Bitcoin
Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.
- Easy and cheap way to buy bitcoins with cash
- Private way to buy bitcoins, no personal information required beyond cellphone number
- Users in sparsely populated areas will have trouble finding sellers
BitSquare Popular Buy Bitcoin
BitSquare is a decentralized Bitcoin exchange. They facilitate trade by escrowing bitcoins of both buyer and seller, to promote the successful conclusion of trades. It offers high privacy and security, and never controls its users funds.
- The exchange never has control of your money
- Usually requires some bitcoin for escrow, so not an option for first-time buyers
- Works over TOR for increased privacy
- Very low 0.0008 BTC flat fee
- Currently low volume, so may be hard to purchase depending on buy amount or your location
- 1 bitcoin trade limit, no limit on number of trades
How to Buy Bitcoin in Cyprus
Cyprus has a relatively crypto-friendly regulatory environment despite its government issuing a warning to its citizens about investing in Bitcoin. Cyprus doesn't regulate Bitcoin, and it allows blockchain startups, ICOs, and exchanges.
Residents of Cyprus have more than 20 exchanges to choose from, most of which require identity verification before purchasing. Unfortunately, the island nation doesn't have any Bitcoin ATMs, which typically offer more privacy than a traditional online exchange.
Both Coinbase and Coinmama are available in Cyprus, in addition to other exchanges like LocalBitcoins, which offer a bit more privacy.
You should make sure you have a secure hardware wallet, regardless of the exchange you choose. Most exchanges have built-in wallets, but they're not 100% theft-proof. Losing your investment because you didn't securely store your Bitcoin is the last thing you want to do.
Instead, opt for a secure hardware wallet like the Trezor or the Ledger Nano S. You could use a software wallet instead (on your computer), but the security of cold storage hardware wallets is unrivaled.
After your wallet situation is squared away, buying Bitcoin in Cyprus is easy. Choose your exchange, verify your identity (if necessary), add a fiat payment method, and trade away.
Bitcoin Mining in Cyprus
Mining Bitcoin in Cyprus is anything but a good idea, at least if you want to make even a sliver of profit.
Electricity is one of the leading factors of Bitcoin mining profitability, in conjunction with your mining hardware's hash rate.
Maximizing the hash rate to power consumption ratio is key for profitable BTC mining. They're the only two factors you have control over, as the price of Bitcoin is always on the move.
If you do invest in mining hardware, Cyprus is probably one of the last places you'd want to set up shop.
The island nation's electricity prices are high, approximately double that of the United States.
Coming in at 0.22 Euro cents per kWh, even the best Bitcoin mining hardware wouldn't be profitable in Cyprus.
According to our Bitcoin mining profitability calculator, the S19 miner would lose around $5,000 per year, per miner. And that's after you invest around $2,000 for each ASIC in the first place.
It's been a while since Bitcoin mining's golden age when nearly anyone could make a profit.
Profitably mining is still possible now, but only with cheap electricity in a country like China, where most large mining operations reside.
In conclusion, if you want to buy Bitcoin as quickly and efficiently as possible, buy it from an exchange. Mining is reserved for large companies with the financial muscle to operate at scale, with cheap electricity, profitably.
