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How to Buy Bitcoin With a SEPA Transfer

By: Alexander Reed | Last updated: 2/28/24

SEPA (Single Euro Payments Area) is a fast and cheap payment method that transfers euros between EU residents’ bank accounts. In this post, I’ll review the most popular cryptocurrency exchanges accepting SEPA deposits.

How to Buy Bitcoin With SEPA Summary

Using SEPA if you are in the EU is highly recommended since most exchanges will charge you little to no fees. Some exchanges will also give you a much higher buying limit when using SEPA since they are not worried about chargebacks.

Here’s how to buy Bitcoin with SEPA:

  1. Visit Coinmama.
  2. Choose BTC and the amount you want to buy.
  3. Enter your Bitcoin address.
  4. Choose “Bank Transfer” on the payment method page.
  5. Send funds to Coinmama
  6. The Bitcoin will be sent to your wallet once the transaction is confirmed.

If Coinmama doesn’t work for you, here’s a list of exchanges that allow you to buy Bitcoin with SEPA:

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Coinbase Pro
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That’s buying Bitcoin with SEPA in a nutshell. If you want a more detailed explanation, keep on reading. Here’s what I’ll cover:

  1. Why Should I Use SEPA?
  2. Coinmama
  3. CEX.IO
  4. Coinbase
  5. Bitpanda
  6. Coinbase Advanced
  7. Bitstamp
  8. Kraken
  9. Luno
  10. LocalCoinSwap
  11. CoinCorner
  12. YouHodler
  13. Conclusion

1. Why should I use SEPA?

Regarding fiat currency, one of the main issues exchanges are concerned with is chargebacks.

To address this issue, many exchanges charge high fees on credit and debit card purchases. By charging such high fees, they cover the risk of selling Bitcoin and not getting paid.

However, SEPA transfers are virtually irreversible, which makes them a popular option among exchanges. With SEPA, exchanges will allow you to buy large amounts of Bitcoin, as they are not as worried about chargebacks. 

By extension, due to the low risk, the fees you pay when making a purchase via SEPA transfer are very low, with some exchanges not charging deposit fees at all.

All of the reasons above make SEPA transfers a great alternative if you don’t have access to credit or debit cards or if you simply wish to pay very low fees.

For example, if you buy €1,000 worth of Bitcoin using a debit or credit card, you could pay up to an additional 10% in fees, depending on which broker or crypto exchange you use. But if you use Kraken, for example, for a SEPA deposit, you’ll pay zero in fees, with a 1 EUR deposit minimum.

As with everything, SEPA transfers have their downsides. Every transfer has to be cleared by several banks on its way to the exchange. Due to this, they can take significantly longer to complete compared to other, more convenient payment methods.

As such, estimated processing times for SEPA deposits at exchanges vary between 0 and 3 days or instant. Instant SEPA deposits usually require more verifications, and your bank needs to be part of the Instant SEPA network.

A quick word about fees

Most exchanges charge three different types of fees – deposit fees, trading fees, and withdrawal fees. For this article, I will focus mainly on deposit fees since this is about depositing fiat and buying Bitcoin, not trading, and that’s where SEPA transfers excel.

Oftentimes, deposit fees are zero or close to it. Remember that even if an exchange charges 0% on deposit fees, it may still charge a fee for the transaction itself (i.e., converting fiat to Bitcoin).

You always want to read the small writing before purchasing or trading. Also, before accepting a trade or purchase, calculate how much you’re spending and how much Bitcoin you should receive back. Sometimes fees can be hidden in receiving back less Bitcoin than your calculation says you should.

2. Buy Bitcoin with SEPA through Coinmama

Pros: Good support, respected company, simple UI

Cons: 1.5% SEPA fee (low, yes, but other exchanges have zero fees)

Coinmama is one of the world’s leading cryptocurrency brokers. Their platform is smooth and straightforward, and they charge a premium fee for their services.

SEPA bank transfers usually take up to 24 hours to reach Coinmama. However, if your bank supports SEPA Instant Credit Transfers (SCT Inst), according to Coinmama, it only takes 10 seconds, and both services are available 24/7.

One of Coinmama’s strongest selling points is its fast and professional customer support.

Coinmama has a daily upper limit of around $10,000 USD for bank transfers. They also charge a 1.5% fee for SEPA deposits.

Visit Coinmama     Read review    

3. Buy Bitcoin with SEPA through CEX.IO

Pros: Wide selection of cryptocurrencies, no daily deposit limit with SEPA

Cons: Relatively high fees on brokerage service (avoid by using the trading platform)

CEX.IO, established in 2013, is one of the oldest Bitcoin exchanges around. The company offers both a brokerage service and a trading platform. Newbies will find the brokerage service much easier to use than the trading platform.

Having said that, transaction fees on the brokerage service are significantly higher. Therefore, if you have the know-how, it’s best to use the trading platform to receive the best price. There is a SEPA minimum deposit of €20.00, with no daily maximum. CEX.IO charges €2.99 per SEPA deposit.

Visit CEX.IO     Read review

4. Buy Bitcoin with SEPA through Coinbase

Pros: No fees for EUR SEPA deposits, high buying limits

Cons: Slow support, slow time to execute purchase, cannot buy crypto directly with SEPA

Coinbase, established in 2012, is one of the more respected and established companies in the Bitcoin community. They offer a brokerage service, which sells Bitcoin and other altcoins directly at a premium (for a cheaper alternative, take a look at Coinbase Advanced).

Coinbase’s services are available in most EU countries. When using SEPA, Coinbase charges nothing for SEPA transfers; however, with Coinbase, it can take up to 7 days if sent on weekends.

Visit Coinbase     Read review    

5. Buy Bitcoin with SEPA through Bitpanda

Pros: Brokerage service, friendly UI, free SEPA deposits and withdrawals

Cons: Not available worldwide

Bitpanda, founded in 2014, is based in Vienna, Austria. Bitpanda is perhaps the biggest brokerage services supplier for Bitcoin and other cryptocurrencies inside the Eurozone.

In addition to cryptocurrency, Bitpanda also offers the opportunity to invest in various other assets, including stocks, ETFs, metals, and commodities.

Bitpanda charges zero fees for SEPA deposits and withdrawals.

Visit Bitpanda     Read review

6. Buy Bitcoin with SEPA through Coinbase Advanced

Pros: No fees for EUR SEPA deposits, high buying limits

Cons: More suitable for advanced users, slow time to execute a purchase, cannot buy crypto directly with SEPA

Coinbase Advanced is Coinbase’s trading platform, not to be confused with Coinbase’s brokerage service. The platform allows users to trade BTC and several other altcoins.

Coinbase Advanced targets more advanced users, making it not as beginner-friendly. Users can deposit money into regular Coinbase and then move it to Coinbase Advanced for trading.

Visit Coinbase     Read review    

7. Buy Bitcoin with SEPA through Bitstamp

Pros: Reputable exchange, zero SEPA deposit fees

Cons: Does not offer instant SEPA purchases, not beginner-friendly

Bitstamp, founded in 2011 and located in Slovenia, is perhaps the oldest exchange on this list. Along with its great reputation, Bitstamp charges no fees at all for deposits made via SEPA transfers.

The company offers trading services worldwide. Similarly to other trading platforms, using Bitstamp’s services requires some knowledge of trading and knowing your way around the UI in order to use the site properly.

Bitstamp deposits are free, while withdrawals entail a €3.00 fee when using SEPA.

Visit Bitstamp     Read review

8. Buy Bitcoin with SEPA through Kraken

Pros: Good reputation, free SEPA deposits, instant SEPA deposits

Cons: Higher trading fees when not using Kraken Pro

Kraken is one of the world’s oldest Bitcoin exchanges and also one of the top by euro trading volume. Kraken operates in the European Union, Canada, and across the United States (except New York and Washington state).

SEPA deposits are free of charge, whereas withdrawal fees range from €0.90 to €1.00. In some cases, deposits using SEPA will be instant, depending on your bank account, and this is something not many exchanges offer.

Visit Kraken Read review

9. Buy Bitcoin with SEPA through Luno

Pros: Supply both brokerage and trading platform services, instant buy/sell options

Cons: Limited trading pairs

Luno was founded in 2013 (originally under the name BitX). The exchange is known for offering services to developing and EU countries.

Luno has three verification levels that each increase your total deposit and withdrawal limits. Level 1 has a €1,000 deposit and withdrawal limit over all time. Level 2 has a €5,000 monthly limit for deposit and withdrawals. Level 3 (Fully Verified) has no limits for deposits or withdrawals.

Luno’s fees for SEPA deposits are free of charge, while withdrawal fees are €0.30.

Visit Luno Read review

10. Buy Bitcoin with SEPA through LocalCoinSwap

Pros: Plenty of sellers, very friendly UI

Cons: Always a risk of scams when using a P2P (peer-to-peer) service

LocalCoinSwap is a marketplace where buyers and sellers connect directly. When you use LocalCoinSwap, you’re dealing with an actual person, which means that the seller’s credibility is another thing to watch out for.

Luckily, each seller (vendor) has a profile that shows how long they’ve been a member of LocalCoinSwap, their timezone, how many trades they’ve performed, total trade volume, user feedback, and more.

As for fees, sellers will usually charge a premium since they’re taking a big risk of buyer chargebacks, and LocalCoinSwap charges the vendors a selling fee.

Visit LocalCoinSwap     Read review    

11. Buy Bitcoin with SEPA through CoinCorner

Pros: Reputable company, responsive customer support, free SEPA deposits

Cons: Bitcoin is the only cryptocurrency available

CoinCorner was founded in 2014 and is based in the Isle of Man. The company offers brokerage services and its own software wallet for Apple and Android.

Currently, CoinCorner only offers Bitcoin for purchase.

As for their fees, CoinCorner charges no fees at all for deposits done with SEPA and a 1 EUR fee for SEPA withdrawals. SEPA deposits and withdrawals have a 5 EUR minimum each, with no maximum limits.

Visit CoinCorner     Review coming soon 

12. Buy Bitcoin with SEPA through YouHodler

Pros: Newbie-friendly exchange, free SEPA deposits

Cons: Minimum deposit of 100 EUR

YouHodler is a Swiss-based platform that also has an office in Cyprus. It offers crypto trading, savings accounts, and cash loans. The exchange interface is newbie-friendly, with no need to navigate charts or order books.

SEPA deposits are free, with a minimum deposit of €100. SEPA withdrawals cost €5, with a minimum withdrawal of €30.

Trades between fiat and crypto must be equivalent to 30 USD or more, with no clearly defined trading fees. Instead, you’ll have to check the applicable fee and exchange rate when entering a trade or by using their conversion calculator tool. This 30 USD minimum applies to both crypto-to-fiat and fiat-to-crypto trades.

Visit YouHodler     Read review 

13. Conclusion – How do I Know Which Exchange to Use?

Deciding which exchange to choose can be hard, as many options exist. Some are more reputable than others, some have lower fees, and some have great support, which is crucial.

I believe the best way to find your ideal exchange is through trial and error. Pick an exchange (any exchange), deposit a small amount with them, and evaluate the overall experience you’re getting.

If it’s not good, just move to the next exchange in line.

Alternatively, you can choose to avoid micro-analyzing and, from the get-go, choose an exchange that you know will give you great service even if they charge more.

Finally, remember that SEPA transfers usually take longer than credit card or debit card purchases, which might be a downside for some users. Be sure to check if your bank has SEPA Instant Transfers, which would be a great option if it does.

If you have any more questions or comments about the methods I just described, feel free to leave me a comment below.

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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