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Buying Bitcoin in Switzerland is pretty easy thanks to the government's crypto friendly attitude (more on that below).

Zurich, the economic safe-haven to the world

But before you sign up with an exchange, make sure you have a secure hardware wallet like a Ledger Nano S or a Trezor.

Although Bitcoin's blockchain is immutable and free from hackers, the centralized exchanges from which you buy Bitcoin - like Coinbase and Coinmama - are centralized, and vulnerable to attack.

While you can probably get away with storing small amounts of Bitcoin on an exchange, it's not a good idea, especially with larger amounts.

Protecting your Bitcoin should be a top priority, which begins with a secure form of cold storage that hackers can't access.

Take a look at our favorite hardware wallets below:

After you get a wallet, choose an exchange, verify your identity, connect your payment method, and trade away!

If you want to buy from an exchange based in Switzerland, we recommend Bity. They're a Bitcoin ATM company based in Switzerland, with 5 ATMs that provide quick withdrawals and high limits.

Swiss Banks and Bitcoin

Switzerland's banking industry is known to safeguard wealth, which is why Bitcoin is a natural fit for the country.

Founded recently with a universal banking license, SEBA Bank AG has a plethora of services, from fiat currency storage to crypto custody (they manage your cryptocurrency).

SEBA's home page

The Swiss startup can hold a bunch of different fiat currencies, such as American dollars, Singaporean dollars, and Hong Kong dollars.

One of the coolest things about the bank is their crypto connected debit card that automatically transfers crypto on the backend to traditional currency. The card can be used in regular commercial settings, withdrawing from a cryptocurrency balance.

SEBA Bank AG is yet another testament to Switzerland's historical safeguarding of wealth, this time in the crypto sphere.

One of the easiest ways to buy Bitcoin in Switzerland is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Switzerland, allowing you to select one based on your requirements and preferences using our list outlined above. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be considered before selecting one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

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There are three main types of Bitcoin wallet and all of them are supported in Switzerland:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Switzerland that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Switzerland that allow you to buy litecoin and other crypto assets for good exchange rates.

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Bancor Hack

In July of 2018, the "decentralized" exchange Bancor, based out of Israel and Switzerland, announced that hackers had stolen ~$23.5M in crypto assets.

These included:

• $12.5 million in Ether
• $1 million in Pundi X’s NPXS token
• $10 million in Bancor’s BNT

This hack occurred when "a wallet used to upgrade some smart contracts was compromised", according to Bancor's spokesperson.

Bancor raised over $150M during its Initial Coin Offering the previous year.

The lesson to learn from the Bancor hack is that just because someone claims their exchange is decentralized does not mean that the wallets can't be hacked or that the software does not have critical bugs that leave customers vulnerable.

Charlie Lee, Litecoin founder, put it best:

A Bancor wallet got hacked and that wallet has the ability to steal coins out of their own smart contracts. 🤦‍♂️

An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization. https://t.co/22UYygIhEF

— Charlie Lee [LTC⚡] (@SatoshiLite) >July 10, 2018

E-Coin Scam

The Swiss Financial Market Supervisory Authority (Finma) has blocked $2M worth of funds sent to Quid Pro Quo Association for issuing E-Coins. Quid Pro Quo claimed that E-Coin was a cryptocurrency, yet it was discovered that there was no Blockchain, and the coins simply existed on a database held on Quid Pro Quo's servers.

According to the statement from Finma,

The scheme also promised to back the coins with physical assets, which it had failed to do. There were also apparently two other scam currencies, but these currencies were not named in the warning from Finma.

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The cost of purchasing expensive hardware aside, mining takes time and energy (literally) which gets expensive.

Especially considering the price of electricity in Switzerland, buying Bitcoin from one of the exchanges listed above is your best bet.

Swiss citizens pay roughly 0.20 Franks per kWh, nearly double the cost of electricity in the United States, where mining is also not profitable.

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Does Coinbase work in Switzerland?

Citizens of Switzerland can convert, buy, and sell cryptocurrencies with fiat. Supported payment methods are:

• Bank Deposit
• PayPal
• 3D Secure Credit Card
• Debit Card
• Credit Card

Where Can I Find a Bitcoin ATM in Switzerland?

Switzerland is among the countries with the most Bitcoin ATMs per capita. At 103 ATMs across the country, you are never too far from a Bitcoin ATM, so if you want to stack some sats for cash, Switzerland is a great place to do it.

You can use our Bitcoin ATM finder tool to find the one nearest you.

What is the price of Bitcoin in Switzerland?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

Does Bitcoin mining use more energy than Switzerland?

Switzerland currently consumes about 63 TWh of electricity every year while emitting around 35 Mt of CO2 each year.

According to the International Energy Agency, a non-profit that works with governments and corporations to secure sustainable energy policies internationally claims that Switzerland consumes about 63 TWh of electricity each year. It also emits about 35. Mt of CO2 each year.

By contrast, according to Digiconomist, Bitcoin consumes about 70 TWh of electricity and emits ~33 Mt of CO2 each year.

That means that Bitcoin actually consumes more electricity that Switzerland consumes while emitting less CO2.

Is there a bitcoin ETF in Switzerland?

There are currently no Bitcoin ETFs in Switzerland.

What is crypto valley in Switzerland?

Crypto Valley is a city in Switzerland that was founded on the idea that companies, large and small, could move their headquarters to a place that is friendly to crypto startups. The city raised hundreds of millions of dollars to get the ball rolling, and indeed many startups did move there. However, in April of 2020, Swiss Blockchain Federation found that 80% of the 203 firms surveyed said bankruptcy was imminent and that only half of the 50 biggest companies in Crypto Valley would last another year.

In response to this, Crypto Valley management is turning to the Federal Government and asking for a 100 million Swiss Franc bailout to keep the project going. So much for decentralization!

Can you buy a house with Bitcoin in Switzerland?

Yes, you can currently buy homes and other property types with Bitcoin via Bithome.ch.

Where can I spend bitcoin in Switzerland?

Bitcoin is accepted at lots of stores and service providers all over Switzerland. So many, in fact, that we couldn't possibly list them all here. However, you can find specific kinds of services and goods filterable on a map over at coinmap.org.

The colored sections indicate areas where there is heavier acceptance of Bitcoin

Which banks in Switzerland are bitcoin friendly?

Zurich-based SEBA Bank AG offers a suite of services for crypto enthusiasts, such as crypto custody and crypto-connected debit cards.

Falcon Group also offers these services as well as Bitcoin savings and brokerage services.

How do I cash out of Bitcoin in Switzerland?

Any exchange with a Swiss Franc trading pair will allow you to sell your Bitcoin for fiat currency. Bitit has CHF trading pairs for many popular coins.

Another way to sell Bitcoins in Switzerland is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.