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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.
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.
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.
eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.
Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.
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.
The Netherlands Antilles (also informally known as the Dutch Antilles) is a country once a territory of the Netherlands.
There are only two exchanges that support the small island chain, probably due to Bitcoin's lack of popularity and the Netherlands Antilles' tiny population.
In many senses, the islands in the Netherlands Antilles are up to speed with current times. Aruba, for example, is a modern island, but its financial institutions have been lagging for decades. Aruba only has five banks, and it takes three whole days to transfer money from one bank to another.
It's also hard to get a credit card on the island, and they can't use PayPal charging with bank connectivity either. That's where crypto comes in. The ability to bypass the Netherlands Antilles' banking system entirely helps residents facilitate payments far quicker than their traditional infrastructure.
Before you buy or sell and tokens, however, it's essential to store your Bitcoin on a cold storage hardware wallet like the Ledger Nano S. Keeping your coins on an exchange wallet is asking for trouble.
With that sorted, you can buy Bitcoin to your heart's content, but make sure it's stored safely.
Mining Bitcoin in the Netherlands Antilles is not a good idea if you want to make a profit. Instead, it's recommended that you buy Bitcoin directly from an exchange. But if you're dead set on mining, here's what you need to know:
Electricity is one of the leading mining overheads to consider, and it's important to keep electricity costs as low as possible to maximize profitability.
Netherlands Antilles has expensive electricity. For example, Aruba's electricity cost is approximately $0.28 per kWh, which is more than double what citizens of the United States pay for electricity.
Most Bitcoin mining takes place in large scale 'mining farms' in countries like China, where electricity is cheap (around $0.06 per kWh).
According to our Bitcoin mining profitability calculator, with the best mining hardware on the market (Antminer S19) you'd lose roughly $6,000 per year, per miner, on top of the initial $2,000 investment.
Unless electricity costs in Netherlands Antilles dramatically lower (they won't) Bitcoin mining, there is a bad idea. Instead, buy Bitcoin directly from an exchange, or use a platform like LocalBitcoins to facilitate trade with peers on the network.