How to Buy Bitcoin (BTC) with SEPA (EU) in 2022

You can buy Bitcoin (BTC) with SEPA using any reliable trading platform. The process typically involves transferring funds from your bank account via SEPA to a centralized exchange that handles the conversion. 

SEPA is an acronym that stands for Single Euro Payments Area. SEPA payments are a type of interbank payment transaction that is based on the basic rules and procedures that apply to euro transfers. This instrument, which was adopted in January 2008, includes the following features: 

All clients in the SEPA zone have access; there is no cash restriction on the user’s bank account; and the transfer has a minimum duration. To identify the user, two codes are used: the Bank Identification Code (BIC) and the International Bank Account Number (IBAN) (IBAN). In other terms, the SEPA payment is the capacity to transfer money in euros swiftly and efficiently in 35 countries for a low price.

SEPA zone

The SEPA zone includes 35 countries.  These include the eurozone countries: Spain, Slovenia, Slovakia, Greece, Austria, Portugal, Norway, the Netherlands, Germany, Malta, Luxembourg, Latvia, Lithuania, Liechtenstein, Cyprus, Italy, Iceland, Ireland, France, Finland, Estonia, Belgium.  Further, Andorra, Bulgaria, Czech Republic, Denmark, Croatia, Iceland, Liechtenstein, Hungary, Monaco, Norway, Poland, Romania, San Marino, Great Britain, Sweden, Switzerland.

SEPA Bank Transfers Are Divided Into Three Types 

1. Debit Card 

The most frequent kind of transfer is direct debit, which is often used for regular payments such as monthly utility bills. The recipient (business) will buy crypto debit card monies from the payer (consumer), who will then sign a mandate (contract) authorizing recurring withdrawals from their account. Keep in mind that there are two forms of Direct Debit: Core Direct Debit, which is open to everyone, and B2B Direct Debit, which is only available to companies. 

SEPA Direct typically takes two to three working days to complete. It may take a little longer on weekends and national holidays. 

2. Credit

SEPA Credit is comparable to a standard credit transfer, except that you must include your IBAN and, in some cases, the BIC (Bank Identifier Code) of both the payer and the recipient. These numbers are needed to verify the payment and guarantee that the funds are received in the right bank account. 

It will take one business day to process and settle SEPA Credit. If you transfer money to another SEPA country, it should reach the recipient’s bank account within one day. Waiting times may be affected by national bank holidays and weekends.

3. Instant Credit

Instant Credit is the quickest SEPA transfer option. Check that both your bank account and the recipient’s bank account allow SEPA Instant Credit payments before requesting one. 

SEPA Instant Credit uses a direct channel from the originating bank to the recipient bank, thus the transfer should be completed in a matter of seconds. Unlike other SEPA options, Instant Credit is accessible 24 hours a day, seven days a week, and is not affected by weekends or national holidays.

To begin acquiring bitcoin with SEPA, simply follow these steps: 

1. Create an account and go through the verification procedure to get a free bitcoin wallet with two-factor authentication. All you need to register is a valid email address, a phone number, and a picture ID.
2. From the main menu, select the Buy Bitcoin option and search for a seller. Enter and buy bitcoin with iban you want to spend, the currency, and the payment method you like in the sidebar.
3. Examine the instructions – By selecting the Buy button, you may view the seller’s terms. Depending on how you intend to pay, the vendor may need a snapshot of your online wallet balance, a picture of your bank check, or a copy of the check for your purchased gift card. Some sellers may also need a selfie of the location where you keep your ID as an additional layer of protection.
4. Purchasing bitcoins is as simple as putting the required amount into the widget and pressing the “Buy now” button after you are satisfied with the seller’s terms.
5. You’ll need to speak with the merchant who will provide you with more payment details. All chat discussions are kept and may be used to protect your interest in the event of an issue.
6. The merchant has invited you to make a payment, transfer the funds and immediately click Paid. A safe storage account has been established to prevent your trading partner from collecting your cash without first supplying you with cryptocurrencies. Once the vendor confirms receipt of payment, the wallet will be credited with bitcoins.

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