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Buy Bitcoin In Malta

There are many ways to buy bitcoin. On this page we share the best tricks and solutions right to your preferences. You will be surprised how easy it might be in the end.

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Buying Bitcoin in Malta is not as easy as in other jurisdictions. Many people reported their bank accounts blocked transfers to bitcoin exchanges. The unfortunate truth for Maltese people is that bitcoin is under attack by the Maltese banks, governments and regulators.

Malta has strict regulations when it comes to offering buying or selling bitcoin as a service. For this reason, Malta is way behind other jurisdictions in Europe in terms of reliable and trustworthy bitcoin onramps. Obviously Maltese banks are not in favor of bitcoin and have a big interest to not let bitcoin become an overnight success.

However, owning bitcoin is not illegal in Malta and the tax law is favorable as Bitcoin enjoys an exempt from capital gain tax if it’s handled the right way.

Even though you might not find the best infrastructure in Malta to enable bitcoin buying, there are still plenty of good options available that allow you to convert risky euros into safe satoshis. In this article we want to show you the best options available and explore their different pros and cons. Please bear in mind that we cannot guarantee the availability of the service or the security of your funds. Do your own research, learn how you can self custody your bitcoin stash and never trust anyone but yourself and technology you understand.

 

The absolute best way is to buy through a peer to peer transaction from a bitcoin seller. This ways you can agree on the rate and exchange instantly. On top of that you will keep the highest level of confidentiality given that you handle your bitcoin wallet in the correct way. That is why the top bitcoin experts recommend this solution. Buy bitcoin from trusted community members for cash.

 

P2P Exchanges

This is the only good way to buy bitcoin as it eliminates many of the risks you face when using your bank account or KYC-exchanges. Buying bitcoin with cash guarantees you the highest level of privacy and confidentiality which protects your investment from all sorts of risk exposure.

To name a few options:
hodlhodl.com
localcryptos.com

 

 

 

BISQ

One of the best ways to buy and sell bitcoin is bisq. Bisq is a decentralized peer to peer exchange that allows you to buy bitcoin from other people using your bank account or other payment options. It is better recommended for advanced users as it requires you to download a desktop client.

Website: https://bisq.network

Pros:

  • Marketplace allows very competitive fees
  • No sign up or verification needed
  • Multiple payment options available
  • Fully decentralized and optimized for privacy

Cons:

  • More difficult than other services
  • Requires you to download a desktop client

Relai

Relai is a startup bitcoin onramp which is registered, licensed and headquartered in Switzerland. You can see and interview with the great founder Julian Liniger below.
Relai allows you to purchase small amounts between 10-100€ through a bank wire transfer. After KYC verification higher amounts are also possible and fiat deposits can be sent in EUR or CHF. Relai charges only 3% in fees and with our referal code REL045 you save 0.5% which brings your fees down to 2.5%.
You have to check if your bank allows you to transfer to Relai, so just download the app and try it out.

Website: https://relai.ch

Pros:

  • Very small fees
  • Allows to withdraw bitcoin to your own wallet easily
  • You can setup recurring purchases
  • Great company strategy and ethical team


Cons:

  • It can take a 1-2 days until you receive your purchased btc
  • Price conversion is done at the time of the receipt of deposit which can be 1-2 days later. If you buy bitcoin on Saturday and the bitcoin price increases until Monday, you’ll be credited the amount of btc for the bitcoin price on Monday.
  • KYC requirements mean you lose privacy and increase your risk of being hacked, taxed or stolen

Buy bitcoin with credit card

A great number of services offer you to buy bitcoin using your credit card. You can find them by using a search engine of your preference (for example startpage or duckduckgo).

The fees vary between 2-8% depending on the amounts and provider.

To list a few you can look at: 

bitcoinmalta.best
The website bitcoinmalta.best allows you do buy different amounts of bitcoin directly with your credit card. You have to check if your bank or card issuer supports the merchant as otherwise your payment won’t get through. KYC check and verification is not required for small amounts below 100€.

instacoins.com
Instacoins allows larger volumes but requires a full KYC check. There are no fees applied but instacoins has their own exchange rate as shown in the FAQ “As there is no central exchange controlling the rate, each website that you visit will have its own Bitcoin rate. Our exchange rate will always be displayed prior to completing your card purchase.”

 

 

Buy bitcoin on an exchange 

 

You can always register yourself at a bitcoin exchange. Bear in mind that you also have to deal with the risks that are involved when using services with mandatory KYC verification. If hackers can acccess the databases of the exchange your personal data could be exposed. Similarly exchanges could be forced to forward your personal data to a government or regulatory body at some point. Also note that your bank might not let you transfer funds to for from an exchange as deposits or withdrawals. Generally the KYC check is very throughout and difficult with most exchanges.
If you still want to use an exchange, we listed the most trusted brands below.

The Rock
Bitstamp
Kraken
Binance

 

 

Buying through Revolut

As we have explained in this article, buying bitcoin on Revolut is basically a fake as you can never withdraw your bitcoin. Do not buy bitcoin on revolut if you intend to actually own your bitcoin. If you just want to gamble a bit and do a quick buy and sell you could give it a try. It might be a good thing for beginners to understand the volatility and market dynamics of bitcoin. But you have to be aware that you’ll never get hold on your coins and that Revolut charges hefty trading fees.

 

 

 

 

 

 

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