Open your first Bitcoin account - instructions & test 2021
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Ideally, you should do your research in advance and not rush headlong into an investment. A Bitcoin account test can be of great advantage, as the return on investment is sometimes considerably dependent on the choice of provider, as the conditions and offers differ considerably.
Open a Bitcoin account? Create an account in three steps (instructions):
Step 1: Choose Bitcoin account provider
Opening a Bitcoin account is very easy, but the creation of the Bitcoin account should never be taken lightly - it is no different when choosing an exchange. So in the first step, you should think carefully about which provider you want to open your Bitcoin account with.
In our Bitcoin account test, we provide information on what the best Bitcoin account is (more on this later in this article).
We advise our test winner Bitcoin account eToro, as it offers the lowest fees for buying Bitcoin. Also, eToro is fully regulated and licensed.
To create our Bitcoin account we first click the link to sign up with eToro:
Your capital is at risk.
Then we receive a verification email where we click on the link to confirm the account.
Second step: Top up your Bitcoin account
The fact is that you can create a Bitcoin account within a few minutes. The registration process is easy and only requires the entry of a few data.
Ideally, you can start trading with Bitcoin just a few minutes after making the deposit, but sometimes you have to wait up to 3 days. However, you can also use this time wisely to inform yourself about Bitcoin investments and the market situation.
In our example we show the deposit with credit card. eToro also offers other deposit options:
Payment method | Possible |
|---|---|
Buy IOTA with bank transfer | ok |
Buy IOTA with a credit card | ok |
Buy IOTA with Neteller | ok |
Buy IOTA with Skrill | ok |
Buy IOTA with PayPal | ok |
Buy IOTA with online banking | ok |
Buy IOTA with Rapid Transfer | ok |
Buy IOTA with Sofort | ok |
Buy IOTA with a debit card | ok |
Third step: Buy Bitcoin
Once our Bitcoin account is created, we can buy Bitcoin. To do this, we search for "bitcoin" in the search function above.
After all options have been configured, we click on the button "Open Trade" to complete the purchase.
Afterwards, you have the Bitcoin in your portfolio, the purchase is completed!
Bitcoin Account Test 2021:
There are now countless providers that allow you to open a Bitcoin account. The best crypto providers are listed in the following table. Here you can rely on both seriousness and competent customer service. This is how you can get your first Bitcoin account quickly and easily.
 | Trade real cryptos and crypto CFDs |
 | Choice between two trading platforms |
 | Broker fully regulated |
 | User-friendly platform 0% commissions Deposit from 20€ |
 | Good selection of cryptocurrencies Regulated by CBI and MiFID in Europe No commissions and low spreads |
Our recommendation: Buy cryptos with eToro
- Incl. wallet
- Buy and sell cryptocurrencies directly in the wallet
- Paypal, credit card and instant bank transfer
- Regulated provider
- Real cryptos or CFD trades
Finding the right crypto account: What should you look out for?
The platforms could hardly be more different in some respects. While some are hard to understand for laypeople at first, modern Bitcoin accounts impress with a reduced and innovative design.
With these, the learning curve is much steeper; after just a few minutes, you are able to buy Bitcoin online. However, the design is not the only difference. With some classic Bitcoin exchanges, for example, you cannot pay directly in euros or with Paypal.
In some cases, complex transfers are necessary. Those who want to create a modern Bitcoin account, on the other hand, benefit from a variety of options.
We would like to summarise these briefly and concisely at this point:
- Knowledge is power: Through an optimal and integrated exchange app, users are always well informed about how the market is moving.
- This is additionally flanked by the collected knowledge of the community - via social news and social trading, active users tend to be one step ahead.
- Different deposit modes
- Good support incl. live chat option
- Regulated by different authorities and institutions.
Bitcoin Account Fees Comparison
Let's take the following example to compare fees when buying Bitcoin:
We buy Bitcoin for €1,000.
We keep our Bitcoin for 30 days and then sell it again.
We assume that the exchange rate does not change during the 30 days.
Here's how the following fees stack up at eToro, Coinbase, Libertex and Plus500:
providers | etoro | coinbase | Plus500 | Libertex |
|---|---|---|---|---|
Deposit | for free | 3.99% | for free | for free |
Purchase fees | 0.75% | 1.49% | 3.08% | 0.41% |
Holding fees | for free | for free | 0.05% | for free |
Sales charges | 0.75% | 1.49% | 3.08% | 0.41% |
Payout | 5 USD | $ 0.15 | 1.9% | for free |
Total fees | € 19.20 | € 68.24 | € 92.32 | € 8.20 |
Create a Bitcoin account anonymously and officially
Many want to create their Bitcoin account anonymously. The desire is quite understandable. After all, one of the advantages of a decentralised network is that there is no
no
central authority that can see all account movements. One thing is clear, however:
In most cases, you can only create a Bitcoin account if you verify your data. This sometimes requires a copy of your identity card. However, this is not a problem at all, on the contrary.
There are several options for this. We present two options:
- Buy Bitcoins anonymously and personally without an intermediary. There are Facebook groups for this, for example.
- Buying Bitcoins at special machines - in some of them this is possible completely anonymously.
Official Bitcoin bank account set up not at all worse
This is why you can't track your Bitcoin crypto account
To create a Bitcoin wallet, it is often not necessary to disclose any data. A wallet consists of, among other things, a public key that is needed to transfer coins to the account. In very simplified terms, this sequence of numbers could be equated with the account number.
In addition, there is the
private
key, which you should keep exclusively for yourself. On the other hand, you also have to make sure that the private key is never lost. Without it, it is no longer possible to send cryptocurrencies.
But why is the Bitcoin account anonymous? The answer could hardly be simpler. It is simply not possible to create an anonymous account on the basis of the two
"keys"
conclusions about a person's identity on the basis of the two "keys". Of course, this is only true if you don't make any mistakes and keep the keys strictly confidential.
However, we strongly advise against trying to abuse anonymity. Crypto trading profits, for example, may have to be taxed. However, there are also legal tricks to avoid this.
Here, too, knowledge is power. You should not rush blindly into investments, but should ideally be well informed.
Conclusion
Conclusion
In this Bitcoin account test, several providers were examined in detail. It turned out that there are a number of platforms that offer extremely favourable conditions. We have also compiled a top 8 list.
All those that made it to this list seem to be absolutely recommendable for Bitcoin trading. We would like to emphasise once again at this point that the exchanges and exchanges each have different advantages.
Depending on your personal trading strategy, the advantages of one or the other provider may outweigh the disadvantages. For example, if you only want to trade CFDs, you will probably be happy with Plus 500.
However, if the coins are actually to be bought and stored in a wallet, then our test winner eToro is a good choice. After all, eToro offers not only the lowest fees but also a fully regulated and licensed platform.
In any case, it is clear that a Bitcoin account test is an important step in finding a suitable provider. Beyond that, however, there are other steps that increase the likelihood of success in Bitcoin trading. For example, it is helpful to always be informed about current Bitcoin developments. Tools and features such as social news and social trading are particularly useful for this.
Our recommendation: Buy cryptos with eToro
- Incl. wallet
- Buy and sell cryptocurrencies directly in the wallet
- Paypal, credit card and instant bank transfer
- Regulated provider
- Real cryptos or CFD trades
FAQ
On the one hand, you can use a crypto broker to trade cryptocurrencies. Here, however, you usually do not get direct possession of the coin. On the other hand, you can exchange cryptocurrencies on pure crypto exchanges. Here, however, you usually already have to have a wallet and a currency. Alternative platforms, such as Coinbase, allow you to buy cryptocurrencies with real money. But the first brokers, such as eToro, are also following suit.
If you actually want to own the coin, you must have a suitable wallet. However, you can also trade bitcoin indirectly.
Some brokers now offer online wallets.
There are now countless coins. However, if you are just starting to deal with cryptocurrencies, you should first invest in the big ones in the industry. Bitcoin, Ethereum or Iota can make it easy to get started, since they can be traded on many platforms and are supported by most wallets.
This is the question that most crypto investors are asking. The chosen coin should of course be cheap at the time of purchase and ideally increase in value after the purchase.
However, due to the high volatility of cryptocurrencies, it can be difficult to identify the right time. However, the daily chart analyses on Kryptoszene.de can provide initial prognostic clues.
