How to Buy Bitcoin in Austria

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Austria is a beautiful country. And there are many ways to buy bitcoin in Austria. So what are you waiting for?

In this article we compare the best ways to buy bitcoin in Austria so you save time and money.

Salzburg – Is this even real?

Austria attracts millions of visitors from around the world each year. For good reasons. The country located in the heart of Europe has some of the most beautiful landscapes, valleys, rivers and historic cities.

The people in Austria are clever too. Bitcoin is gaining popularity and one of the largest European bitcoin conferences is hosted in Innsbruck, Austria.

Many people in Austria are looking for an alternative to the banking system and the government-issued money. With inflation on the rise, the euro is seen as a bad store of value by a growing number of experts and individual investors. But what is plan B then?

Buying bitcoin to save for the future could be the logical step since bitcoin is strictly limited to 21 million coins, making the new internet money inflation-proof. How can you buy bitcoin if you live in Austria? We did extensive research to find the best options for you.

The complete list where to buy bitcoin in Austria

Onramper Apps:

21bitcoin – Fast, simple and licensed in Austria

Relai – Very easy KYC process for small purchases

Bitcoin Reserve – fast way to buy bitcoin with high limits

Pocket – buy bitcoin straight to your wallet

Bittr – fast way to buy bitcoin with a SEPA transfer

No KYC and cash onramps:

ATMs – wide network of bitcoin ATMs in all major cities in Austria to buy bitcoin with cash

Tobacco kiosks and petrol stations – thousands of physical points around Austria to buy bitcoin with cash

Bisq – the most private way to buy bitcoin with any payment method you want

Hodl Hodl – private and secure way to buy bitcoin from your peers

Local Cryptos – peer to peer market place for bitcoin trades

Exchanges and fintech banks:

Kraken – Long trusted exchange that integrated Lightning

Binance – Chinese centralized exchange to trade bitcoin

BitPanda – Austria based, regulated exchange to buy bitcoin

Crypto.com – Shitcoin exchange to buy bitcoin easily from Austria

Nuri – Germany based, bitcoin banking service to buy bitcoin

Revolut – Long existing neobank service offering bitcoin purchases

Bitcoin Onramps That Work Great In Austria

So where can you buy bitcoin in Austria? The fastest, easiest and often cheapest way to purchase a bit of bitcoin is an onramper service. Those are minimalistic exchanges or brokers who focus on bitcoin. We love them because they are super easy to use and get straight to the point: buying bitcoin.

21bitcoin – fast, easy, cheap and based in Austria

21bitcoin is the only onramp that is officially located in Austria. The young startup proudly calls it “Licensed in the Austrian Alps” and has started selling bitcoin to their clients in 2022.

21bitcoin requires a simple KYC check before you can go ahead and purchase bitcoin.

To purchase bitcoin you simple need to make a SEPA transaction from your Euro account and the fiat money will be credited on 21bitcoin almost instantly.

You can also setup saving plans (Dollar Cost Average Bitcoin) to build up your portfolio long-term. The minimum regular purchase is 15 EUR as of the last edit of this article.

As you might expect it, you can withdraw your bitcoin easily and also automatically to your own wallet may it be a hot wallet or cold storage wallet.

At present 21bitcoin offers its users to purchase bitcoin at a fee of just 0.49% which makes it the cheapest onramp in the list.

Note: While most common banks in Austria such as Erste, Oberbank, Raiffeisen Bank, AlpenBank etc should allow transfers, you could get contacted by your bank if they find a transaction suspicious. This can be arbitrary and unpredictable which is why most users just try it out or do online research beforehand.

Relai – No extra KYC process for small purchases

Relai is a bitcoin only app and describes itself as “Europe’s easiest bitcoin app” providing a speedy way of buying bitcoin from the comfort of your home.

It requires no registration or verification, however KYC data could be retrieved from your banking details.

All that is needed is just a phone and an Bank account with IBAN and Euro or CHF currency.

On the app you create your wallet, insert the amount of euros you want to buy, insert the IBAN, and go to your banking app to send the money to Relai. From there, it’s automatically converted into bitcoin and credited to your account.

This doesn’t mean that your transactions are anonymous because they still remain linked to your bank account, but Relai claims to take privacy seriously.

The fee varies from 1 to 2.5% and the minimum order amount is just €10.

Many bitcoiners like to set up regular bitcoin purchases regardless of price. This is because it’s a common belief that bitcoin will reach new all time highs in the future.

Many people try to buy bitcoin on a regular basis without worrying about timing out the market. The Relai app allows its customers to create such a savings plan with regular weekly or monthly bitcoin orders.

Other than being fast and easy to use, the Relai app comes with a digital non-custodial bitcoin wallet, which gives users complete control over their bitcoin. That also means, if you fail to back-up the seedphrase of your wallet, you will lose your bitcoin in case you have no longer access to your wallet.

The ability to withdraw purchased bitcoin to your own wallet is the most important factor to consider. This allows users to purchase bitcoin and then send them to a safe place such as a hardware wallet or other cold storage option.

Additionally, the Switzerland based app charges zero fees for withdrawals to the bitcoin network. Other than a savings plan, Relai has other perks like donations, referral codes, and the affiliate program for those who want to earn by bringing new users to the app.

Relai Private is dedicated to investors willing to trade with large volumes exceeding €100.000.

Note: While most common banks in Austria such as Erste, Oberbank, Raiffeisen Bank, AlpenBank etc should allow transfers, you could get contacted by your bank if they find a transaction suspicious. This can be arbitrary and unpredictable which is why most users just try it out or do online research beforehand.

Bitcoin Reserve – easy KYC, high high limits

Bitcoin Reserve is yet another bitcoin only app dedicated to European clients. That means, if you live in Austria and seek to buy bitcoin, Bitcoin Reserve is happy to serve.

Their website suggests that Bitcoin Reserve is “the first bitcoin-only venue in Europe that allows daily purchases over €1,000”.

The ease and speed of use is similar to that of the Relai app, but you need to sign up with your email address and passport. Bitcoin Reserve has the option to buy bitcoin with a credit card and through a bank transfer.

Users create their own self-hosted wallet and store bitcoin individually rather than relying on a middleman, which is important for censorship resistance and security.

Bitcoin Reserve offers two different services, one call flash and one called concierge. While a regular flash account allows for a buying limit of up to €50.000, high net-worth individuals have the possibility to utilize Bitcoin Reserve’s Concierge service and make buy or sell orders exceeding €50.000.

The fees of Bitcoin Reserve are slightly higher but the company offers quick support.

Note: While most common banks in Austria such as Erste, Oberbank, Raiffeisen Bank, AlpenBank etc should allow transfers, you could get contacted by your bank if they find a transaction suspicious. This can be arbitrary and unpredictable which is why most users just try it out or do online research beforehand.

Pocket Bitcoin – No extra KYC, buy bitcoin straight to your wallet

Buying bitcoin in Austria can be really easy when you use Pocket Bitocoin. With Pocket, an app exclusively for bitcoin buyers similar to that of Relai app and Bitcoin Reserve, users can start investing in bitcoin within minutes.

There’s no need to create an account, verify or provide documents. You just send Euros from your bank account and receive bitcoin straight to a self-hosted wallet.

Pocket supports many existing bitcoin wallets, and you need to confirm your bitcoin address with a signature from your wallet.

Pocket requires address confirmation to ensure that you have access to your Bitcoin address and to exclude that it belongs to a third party with whom Pocket would otherwise have to exchange your personal data.

You can make a one-off bitcoin purchase or set up a recurring purchase. The limit is €900 per day and up to €90.000 per year. Exceeding this limit will prompt the need for video identification.

Pocket Bitcoin charges a 1.5% fee for transactions, but there’s no minimum purchase limit. For tax purposes, you can access your complete transaction history with Pocket Dashboard.

Note: While most common banks in Austria such as Erste, Oberbank, Raiffeisen Bank, AlpenBank etc should allow transfers, you could get contacted by your bank if they find a transaction suspicious. This can be arbitrary and unpredictable which is why most users just try it out or do online research beforehand.

Bittr – fast way to buy bitcoin with SEPA transfer

Bittr lets you buy bitcoin in a similar way to the other onramps and keeps the Sats it in a bitcoin wallet of your choice. With its early start in 2018, Bittr is one of the oldest bitcoin onramps in Europe.

When you connect your bank account with Bittr, you need to provide your bitcoin address which you created in a hardware or software wallet. This way, you are the only one controlling your private keys.

Austria is on the list of supported SEPA circuit countries, so buying bitcoin is fast and easy when you are based in Austria or if you have a bank account from Austria.

Bittr will only need to verify your email address, and no further login or verification is required. With Bittr, you can set up recurrent payments bitcoin purchases for dollar cost averaging (DCA) with a standard industry fee of 1.5%.

Note: While most common banks in Austria such as Erste, Oberbank, Raiffeisen Bank, AlpenBank etc should allow transfers, you could get contacted by your bank if they find a transaction suspicious. This can be arbitrary and unpredictable which is why most users just try it out or do online research beforehand.

Peer 2 Peer Marketplaces, Bitcoin ATMs, Tellers, Cash Onramps

The most important question that comes to mind when buying bitcoin in Austria is if there are places that accept cash. If you are seeking to protect your privacy, avoiding KYC exchanges can be a smart thing to do. And yes, also in Austria there are ways to buy bitcoin for cash.

Bitcoin ATMs – buy bitcoin with cash in all major cities in Austria

Bitcoin ATMs are a popular method of buying bitcoin with cash, so no bank account is needed for this type of purchase.

Coinatmradar is an interactive map showing bitcoin ATMs across the world, and there are currently 137 ATMs installed in major cities in Austria. For example in Vienna (Wien), Linz, Salzburg and Innsbruck.

When you want to buy from a bitcoin ATM, you need to know first what kind of machine it is, and Coinatmradar helps you with this.

Instructions how to use the machine and what you need to do to buy bitcoin are usually provided at the terminal or on the website of the operator.

In most cases you will be asked to verify your phone number with a code; depending on the limits you will need to submit KYC details. Usually purchases below 250 EUR require no registration.

In order to purchase bitcoin from an ATM in Austria you will need a bitcoin address. That means it’s good to have it generated before you head to the ATM. Some ATM machines also allow to print paperwallets but this not recommended.

The purchase of bitcoin at bitcoin ATMs is most often intuitive and simple, you just follow the steps on the screen. The final step is to insert cash into the machine. Once you press buy, the bitcoin will be sent straight to the provided bitcoin address.

Take care to always have the private key to the address you entered or otherwise you may lose your money.

Bitcoinbon – thousands of physical points around Austria to buy bitcoin with cash

In Austria, there are approximately 4.000 Bitcoinbon points at tobaco kiosks and petrol stations where people can buy bitcoin with special prepaid cards with nominals of 50, 100, 150, and 250 EUR.

After the purchase, using the code on the card, they can convert the voucher credit to bitcoins on the bitcoinbon site.

You can simply visit one of the Bitcoinbon point of sale, buy a prepaid card, and redeem it on the Bitcoinbon website.

You will receive bitcoin to the address you provide, so make sure to own its private keys.

On the website, you will find a map of all the Bitcoinbon points and also of those closest to you. For this kind of service, you need to pay an 8 – 10% fee, and if you want to redeem more than €250, a one-time verification is required. You’ll be asked for a selfie, an ID, an e-mail address, and you’ll be asked to read some words.

Bisq Network – the most private way to buy bitcoin with any payment method you want

Bisq is one of the most popular decentralized exchanges where you can buy bitcoin privately without registration and a KYC process.

To use Bisq, you need to download the software, and install the client on your computer. You also need a working internet connection to use the bisq client.

It can take some time to familiarize yourself with the environment but it’s a well designed program and the community is happy to help new users get started.

When you trade bitcoin on bisq, you connect to a global p2p network of users which are also running Bisq on their computers.

The privilege of this feature is that you keep complete privacy because all your data is stored on your machine and never gets to a central server. As your connection runs through Tor, you can maintain a maximum of personal privacy.

Trading on a decentralized exchange means that you always remain in control of your funds. The Bisq code is open source for maximum transparency.

To buy bitcoin on Bisq, you need add your fiat account and create a new bitcoin address. The most common payment method is Revolut and you will find plenty of offers at different markups.

This deposit will be returned to you right after the trade is completed. Your offer will stay in the order book as long as your computer is online, so don’t switch it off until your order has been filled.

Your payment info is stored locally, so only your trading partner, and in the case of a dispute, a mediator, will know your payment method.

As the exchange occurs between you and another user, even your bank doesn’t know you’ve been using Bisq or buying bitcoin.

Every buy or sell entry you see is a Bisq user with his/her offer and a specific payment method. Users accept bank transfers as well as Zelle, Revolut, Faster Payments, face-to-face, MoneyGram, TransferWise, Amazon gift cards, other altcoins, cash and many others.

You can also decide what kind of payment you want to use when creating an offer to buy bitcoin. To trade on Bisq, you need to make a bitcoin deposit to a secure escrow account.

People living in Austria can use bisq using a number of payment methods such as Revolut, Wise or SEPA. BIsq has it’s own currency called BSQ which allows to save a lot of fees when trading.

Bisq is a true peer-2-peer exchange and gaining in popularity among bitcoin users. The only downside is that you have to stay online to keep your offers live.

Hodl Hodl – private and secure way to buy bitcoin from your peers

Hodl Hodl is another global p2p network where you can buy bitcoin while remaining in control of your privacy, payment method, and funds.

Different to bisq, you don’t need to download any software but you need to register an account.

When you buy bitcoin on this peer-to-peer exchange, both parties of the trade will be protected through a multisig escrow contract. When you pay the seller with the payment method you both agreed to, he/she releases bitcoin from the escrow to your wallet.

There are many different payment methods available. Anyone can determine what method he/she wants to use to buy bitcoin with. If there’s no method you want, then just create an offer.

The platform doesn’t require a security bitcoin deposit to be able to trade. It relies on reputation and user reviews as well as statistics coming from previous trades.

There are perks like private trades where you can hide your offers, ability to set trusted devices for improved security, no need to stay online for the trade to complete, referral program, and even the possibility to lend your bitcoin and earn interest on it.

Hodl Hodl requires no KYC/AML verification and lets you remain anonymous for maximum safety.

Local Cryptos – decentralized network of peers offering bitcoin trades for any payment method

Local Cryptos is a decentralized p2p exchange available in Austria that uses escrow-type smart contracts to secure trades between people.

The user needs to create an account with an e-mail address or by logging in with a wallet like Metamask, Ledger, Portis, TrustWallet, Fortmatic, or others.

There’s no other verification like KYC/AML. Local Cryptos doesn’t hold keys to your bitcoin. That’s why it’s much more secure than a centralized exchange.

Local Cryptos generates a non-custodial wallet address for users and every time you create a transaction, a new address will be generated for you.

You can use any payment method you want and exchange bitcoin for other tokens. The filtering tool is very useful because you can sort offers by payment method, location, price, currency, and more.

The minimum trading amount is $15. Users answering trades in a speedy manner get a reward in the form of a “fast trader” badge.

Buyers and sellers can communicate the details of the trade by means of encrypted messages. In the event of a dispute, Local Cryptos can unlock the escrow but is unable to withdraw funds themselves.

If you invite other people through your referral code, you get 20% of the fees from each of their trades, which is an excellent way to earn more bitcoin. Escrow fees are 0.25% if you post an offer or 0.75% if you respond to one. 

LocalCryptos also allows to list cash trades and in-person trades. These can be very useful if you value privacy and anonymity. However, you do need to keep best practices for your own safety and only trade with very reputable traders.

Centralized cryptocurrency exchanges and neobanks

Sometimes, a centralized and regulated exchange can be an option. It is generally suggested to avoid these solutions but they do offer benefits such as insurance, lower fees, trading or credit cards.

Kraken – a centralized bitcoin exchange with lightning

Kraken is one of the most popular exchanges in Europe and has been on the market since 2011.

It’s easy to use, and to open an account you only need an e-mail address, the country of your residence, and a password. To increase limits and features you have to verify your identity.

Then you connect your funding method, which, for Austria, is a credit or debit card, Apple Pay, or Google Pay. The minimum trading limit is €10 and the upper limit is €7.500 per week.

The processing fee is 3.75% + €0.25. But lower fees are available for trusted clients.

You can set up recurring payments for DCA or you can withdraw bitcoin to your self-hosted wallet. Like any other centralized exchange, Kraken can access your exchange account.

Kraken has a plethora of features to offer, like margin trading, OTC, futures, and staking with rewards of up to 25% per year. It’s worth mentioning that Kraken integrated the lightning network and allows withdrawals without extra charges.

The CEO of Kraken, Jesse Powell, is very transparent about the risks involved with centralized exchanges which many users appreciate.

Binance – the biggest exchange in the world

Binance is a behemoth in the crypto space. It’s one of the biggest centralized exchanges in the world and also one of the most feature-rich.

It also conducts a KYC/AML verification process where you need to upload documents certifying your identity and place of residence.

Once you pass that, you’ll get access to a trading platform with deep bitcoin liquidity, and all kinds of perks like staking rewards, derivatives trading, loans, customizable gift cards, and also p2p trading.

For beginners it can be quiet confusing and overwhelming at first.

Binance accepts bank transfers, credit and debit cards, or you can buy bitcoin with a cash balance or with other altcoins.

Buying bitcoin on this exchange has only marginal fees, and on their p2p network there is no platform fee for bitcoin trades.

It’s noteworthy that Binance has been known for blocking users’ bitcoin if they have suspicions transactions or user activity.

The minimum purchase is €10, and you can also create recurring buys for DCA. Binance has both a referral and affiliate program as well as physical and virtual Visa debit cards with spending limits of up to €8.700 a day and a €290 daily ATM withdrawal limit.

Bitpanda – Austria based, regulated exchange to buy bitcoin

This centralized exchange was founded in 2014 in Austria and is a regulated financial platform. You can not only buy bitcoin here, but you can even buy stocks, precious metals, ETFs, and crypto indices.

Bitpanda is registered with the Austrian Financial Market Authority (FMA) and has a PSD2 license. To open an account, you need to create an account and go through the process of KYC/AML verification.

Then, you can proceed to deposit euros with one of the available payment methods like: sofort, SEPA, Visa, MasterCard, or eps.

Bitpanda is available in German, which is a big plus for non-English-speaking customers. Users can create a physical or virtual card ready to use anywhere Visa is accepted.

It’s possible to trade as little as €1 and pay a fee of 1.49%. You can create a savings plan starting from €25, but keep in mind that you save in a custodial wallet. With a tell-a-friend program, BitPanda gives you and your invitee €10 each.

Bitpanda is the biggest crypto exchange in Austria and has been criticized by many for it’s bad practices and showing little enthusiasm to foster real bitcoin adoption and counter bad regulation.

Crypto.com – crypto exchange to buy bitcoin easily from Austria

Crypto.com is yet another exchange where you can buy bitcoin from Austria and also get a physical or virtual card.

At Crypto.com, you can pay with a bank transfer, with a credit or debit card, or you can transfer some stablecoins or altcoins to exchange them for bitcoin.

The platform offers different defi solutions where you can earn from depositing or staking. Other than buying bitcoin, you can trade derivatives, margin trade, lend cryptocurrency, or use an OTC desk if you’re a VIP or an institution.

Fees depend on your trading volume, and they decrease as your volume increases. You get more rebates on fees if you stake their platform token, CRO. A feature that is enjoyed by users is the airport lounge pass that is included with the debt card.

Since Crypto.com have massive shitcoin exposure it should be treated carefully.

Nuri – Germany based banking service to buy bitcoin

Nuri is a bitcoin banking service. They were formerly known as Bitwala, founded in 2015 in Berlin, and in 2018 they partnered with Solarisbank.

Nuri’s interest bitcoin accounts rely on Celsius and with the recent solvency problems, also, Nuri is impacted and announced a pause on the investing functionality of interest bitcoin accounts, but all other functionalities work as usual.

With Nuri, you get a German bank account where you can buy bitcoin, create a savings account, or invest in their products for a 1% trading fee.

To get an account, you need to verify your identity by uploading documents and also hop on a video call. Nuri says that they give users options as to the type of account they want.

The user has a free choice between a beginner account where the company holds the keys and an advanced one where the user is the one to take ownership of the keys.

Nuri provides a tax-tool for easy and fast export of trading history. With Nuri, you can create a card to spend your bitcoin online or in shops. The app is available in German, so it’s a good alternative for all those who don’t speak English.

Revolut – the oldest neobank service offering bitcoin purchases

This company began in 2015 with simple money transfers but has since grown into a bank with licenses all over Europe, offering stock trading, cryptocurrency, commodities, and other services.

Revolut complies with all KYC/AML regulations, but it has faced criticism for its automated account blocking, which prevented customers from accessing their funds or filing an appeal for weeks or even months.

You can buy bitcoin with Revolut using Visa or MasterCard, bank transfers, Apple Pay, or Google Pay.

Revolut created a @Revtag for social payments, which is your username that can be shared as a URL, to make money transfers easier. You can share this link with your family and friends without providing any additional information in order to receive money from them.

Revolut is also useful for online purchases as its payment processing feature “pay with revolut” is gaining popularity. This feature lets you pay online by scanning a QR code, similar to bitcoin.

Revolut offers four different plans based on your needs. The simplest plan is free and only charges fees for currency exchanges and ATM withdrawals. The most expensive plan costs €13.99, but it includes many features that can be very useful.

With Revolut, you can pay the bills or collect rewards from your favorite brand stores. One useful feature is subscription management like Netflix, Dropbox, and others.

You pay a 2.5% fee for bitcoin trading, which is the highest fee of all the above services. With Revolut, you can buy bitcoin from Austria and use their app in German.

Final note

When you are looking to buy bitcoin in Austria you have plenty of options. We recommend to compare them and understand the upsides and downsides. KYC is always a risk to the safety and should be avoided.

A centralized exchange can freeze your account at any time. However, if you are a bloody beginner, you have to spend a lot of time learning about self-custody and secure storage of your bitcoin. If you want a quick fix, a neobank or exchange can be a convenient solution to get started.

Beyond the services listed in this article, you may find other alternatives that work just as fine. Feel free to leave a comment or message on Twitter if you think we are missing a relevant service in this list.

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