We’ve prepared a short and simple guide for Changelly’s Bitcoin exchange.
Note! Your Bitcoin will be in your wallet between a few minutes and a few hours. We do our best to deliver your BTC and other cryptocurrencies to you as quickly as possible, but there sometimes can be delays due to one of the following factors (if you experience any of these, contact the customer support team):
- Overloaded blockchain and digital currency exchange
- Bitcoin updates
- DDoS attack
That’s it – your BTC should be in your wallet shortly.
What Is Bitcoin?
Bitcoin is a digital currency that allows people to send and receive money over the Internet without a bank or any central oversight. The concept was created by someone under the alias Satoshi Nakamoto. In 2008, Satoshi Nakamoto published a paper called “Bitcoin: A Peer-to-Peer Electronic Cash System”.
Bitcoin is highly volatile, which makes it a lucrative trading asset. It has a market cap of close to $2 trillion.
Is Bitcoin Legal in Ireland?
Bitcoin falls under the EU regulatory framework. In 2015, the European Central Bank adopted legislation for electronic money institutions, which made cryptocurrency legal and properly regulated. It also covers high-risk activities like trading CFDs, margin trading, scalping, and many other types of crypto trade.
Can Foreigners Get BTC in Ireland?
Yes, blockchain works across geographical boundaries. All crypto exchanges with proper licenses are accessible for Irish nationals and foreigners. But the best exchanges should not only be available for anyone but also offer the best terms - transaction fees, withdrawal limits, etc.
How Is the Bitcoin Price Determined?
It’s not a central bank, a Bitcoin broker, or any other body in particular. Bitcoin’s price is mainly determined by supply and demand. There’s also the role of high liquidity in asset pricing. A market with deep liquidity like Bitcoin implies a balance of buyers and sellers, so it always has a high trading volume.
Can I Buy Less Than 1 Bitcoin?
Yes, you can gain exposure to the crypto market even on a tight budget. To make fractional transactions, just enter the amount of BTC, 0.1 or 0.00001. A word of caution for retail investor accounts: if you’re planning to buy small amounts of BTC frequently, you may face relatively high fees. Consider lumping multiple purchases into one to minimize the fees.
What Are the Taxes to Buy Bitcoin?
The taxation of profits or losses from digital assets is nuanced. Here is a simplified version: if you buy, hold, and sell bitcoins, they are trading fees but no tax. Personal transactions and or online purchases also don’t have any additional tax for the consumer.
However, investors that made a profit from their crypto funds will need to report it and pay income tax.
Where Can I Store Bitcoin?
To invest in Bitcoin in a secure way, you need to open an account on a reputable online wallet service and keep your private keys secret. There are tons of crypto wallets, some of which are also Changelly’s partners. Some Bitcoin holders also choose offline storage on special devices.
Which Bitcoin Wallet Can I Use in Ireland?
If you want to hold Bitcoin in large amounts, check out Ledger - the world’s largest Bitcoin service for cold storage. If you have small-to-moderate amounts of crypto, look for online wallets like Edge, Freewallet, Ardor, and other great wallets on our partner list.
Who Accepts BTC in Ireland?
It’s getting more common to see big-name brands becoming Bitcoin-friendly, such as Microsoft, Tesla, Starbucks, and Home Depot. As for local brands, here are a few to check out: Berlin Bar in Dublin, Seapoint Clinic, Busyfeet & Coco Cafe, Sinéad Nic Clámha Pilates, Boden Park Coffee Company, and Killeena House.
How to Cash Out BTC in Ireland?
The simplest option is to do it through Changelly - all you need is a credit card and a reliable ATM. Sell cryptocurrency on the website through a SEPA bank transfer. Once the fiat money arrives in your bank account, you can go to your nearest ATM and withdraw cash.
There is also an alternative option - a Bitcoin ATM. This is a terminal to withdraw crypto directly from your wallet. Although it can be convenient, these machines are very rare, especially in Ireland.