How to Buy Cryptocurrency in Ireland in May 2022

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Are you based in Ireland and looking for the best way to enter the cryptocurrency market? If so, then this beginner’s guide is for you.

Here, we describe how to buy cryptocurrency in Ireland with low fees and what to keep in mind when investing in this asset class.

We have also included an overview of the best cryptocurrencies you can consider buying in 2022 for your portfolio.

How to Buy Cryptocurrency in Ireland – Quick Guide

If you are learning how to buy cryptocurrency in Ireland for the first time, the prospect of investing might seem confusing at first glance.

However, the process can be simple when using the right platform.

You can invest in cryptocurrency in Ireland by following the four steps outlined below:

  • Step 1: Open an eToro Account
    Your first port of call is to open an account with a reputable and regulated broker – such as eToro. You can get started with this platform by navigating to the eToro website and clicking on the ‘Join Now’ button. You can then fill in some personal information and verify your identity to create an account.
  • 💳 Step 2: Deposit Funds
    Next, you need to fund your brokerage account. eToro accepts payments via bank transfer, credit/debit cards, and e-wallets like PayPal.
  • 🔎 Step 3: Search for Cryptocurrency
    You can now search for the cryptocurrency you want to buy on eToro. To do this, enter the name of the digital asset in the eToro search bar. When the result comes up, click on the ‘Trade’ button.
  • 🛒 Step 4: Buy Cryptocurrency 
    The order box will now load up, so you can enter the amount you want to allocate to buy your chosen cryptocurrency. When you are ready to make the purchase, use the ‘Open Trade’ button to finalize the order.

Once your order is placed, eToro will proceed to execute the trade on your behalf. When the transaction is complete, you will see the cryptocurrency you purchased in the portfolio tab of your eToro account.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Where to Buy Cryptocurrency in Ireland

When learning how to buy cryptocurrency in Ireland, one of the first things to figure out is which platform you are going to use.

So, this begs the question – which platform should you use when deciding where to buy cryptocurrency in Ireland?

To help clear the mist, we reviewed the most popular platforms in the market – based on the number of cryptocurrencies available, fees, security features, and research tools.

Our top three picks are as follows:

1. eToro – Overall Best Place to Buy Cryptocurrency in Ireland

etoro logoeToro is the best online broker to invest in cryptocurrency in Ireland. It gives you access to over 60 digital assets and lists more than 80 crypto trading pairs. eToro Europe has its registered office in Cyprus and is regulated by the CySEC, FCA, SEC, and ASIC.

When investing in cryptocurrencies via eToro, you can choose to fund your purchases via different payment methods. It is possible to buy cryptocurrencies with a debit/credit card, e-wallet, or bank transfer. For those based in Ireland, the minimum deposit is only $50 (about €48).

However, if you are making a deposit via bank transfer, you should fund your account with at least $500. And the only deposit fee applicable is a 0.5% conversion charge since the platform has to convert euros to US dollars. Other than this, you only have to pay a flat 1% fee to buy cryptocurrencies in Ireland through this platform.

etoro review

The eToro platform integrates a wide selection of research features, such as price alerts, news feeds, market updates, and customized charts. You can also control your cryptocurrency trades using advanced order types such as take-profit and stop-loss. In case you are a beginner, eToro also offers educational resources such as guides and webinars that will bring you up to speed.

Moreover, as a social trading platform, eToro offers an engaging communal experience. You can share your investment ideas and even get paid when others copy your trading strategies. On the other hand, it is also possible to automate your trades by copying experienced traders, which lets you take a passive approach to cryptocurrency investing.

eToro also offers the best app to buy cryptocurrency since its mobile version packs all of the features found on the web platform. You can use the app to purchase and sell cryptocurrencies, manages your open positions, and set up copy trading investments. It is also possible to access a demo account from the online platform as well as the mobile app.

eToro app

eToro also permits you to store your cryptocurrencies for free on its platform. This means that once you buy cryptocurrencies in Ireland, you do not have to worry about storing your tokens in a private wallet. On the other hand, if you wish to transfer your digital assets to another wallet, you can also do so via the eToro Money app.

Cryptocurrencies are not the only assets supported by eToro. On the contrary, it also gives you access to stocks and ETFs on a commission-free basis. You can also diversify your portfolio by engaging in commodity and forex trading on a spread-only basis. Lastly, if you want to hold your cryptocurrencies for the long term, you can also consider staking them on eToro.

At the time of writing, this feature is supported only for Ethereum, but Cardano and Tron too. Crucially, eToro lets you earn rewards on these tokens without having to lock them up for any fixed time.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Crypto.com – Top Cryptocurrency Exchange to Earn Interest on Digital Assets

crypto.com logoFounded in 2016, Crypto.com stands out as a one-stop-shop for all your crypto transaction needs. It comes with an advanced trading platform, a crypto exchange, and other services such as interest accounts and loans. You can also order a Crypto.com Visa card to make online payments using your digital assets.

For those who do not want to use a card, this platform also has a dedicated app that lets you pay via your crypto balance. You can send crypto to friends, purchase items online, settle bills, and buy NFTs via this app. You can even earn cashback rewards in the form of CRO tokens, the utility coin of the Crypto.com network.

If you are looking to buy digital coins instantly via Crypto.com, the easiest option would be to make the purchase using your credit or debit card. However, this will incur a 2.99% fee. The second option is to fund your Crypto.com wallet with a euro bank transfer via the SEPA network.

Crypto.com

Alternatively, you can also use the Crypto.com exchange to swap one digital asset for another. The maximum fee you will pay for exchanging tokens is 0.4% – and this varies depending on whether you are adding to the liquidity of the platform or not. On top of this, you can also hold CRO tokens in your account to reduce fees by up to 60%.

We also like this platform to buy cryptocurrencies in Ireland because it lets you generate interest on your digital assets. You can lock in your crypto tokens for up to three months to earn up to 14.5% on your deposit. This feature is available for all popular cryptocurrencies, as well as stablecoins such as USDC and DAI.

Finally, Crypto.com has a DeFi wallet that you can use as a non-custodial storage option for your digital coins. This comes in the form of an app, which means that the private keys of the wallet are accessible only to you. The Crypto.com DeFi app also makes it possible for you to send and receive cryptocurrencies and to stake digital tokens directly from your phone.

Cryptoassets are a highly volatile unregulated investment product.

3. Capital.com – Best Platform to Trade Cryptocurrencies in Ireland

Capital.com review If you are looking to profit from the short-term volatility of cryptocurrencies, then you might want to consider CFDs. These instruments allow you to trade crypto without having to take ownership of any digital coins. More specifically, Capital.com is a cryptocurrency platform that gives you access to CFDs.

For those unaware, there are a number of benefits when trading CFDs. After all,  derivative products only track the price of an asset. Therefore, if you purchase a crypto CFD, you do not have to withdraw the digital coins or think of a long-term storage solution.

Furthermore, this also lets you speculate on the value of cryptocurrencies in either direction – that is, you can go long or short. However, CFDs can be risky, and therefore, you need a platform that is regulated. Capital.com is licensed by CySEC, FCA, ASIC, and NBRB.

CAPITAL.COM

Capital.com supports over 470 crypto markets for CFD trading. It also features an advanced trading platform and offers integration with MetaTrader4 for experienced users. You can also access Capital.com in the form of a mobile app, which gives you the flexibility to manage your trading positions on the go.

When it comes to funding your account, Capital.com accepts payment via credit/debit cards and e-wallets. Payments will be processed instantly, and moreover, you only need to fulfill a minimum deposit requirement of $20. For bank transfers, you will need to deposit at least $250 or more.

In addition to this, you do not have to pay any deposit fees in order to fund your Capital.com account. The platform is also commission-free, facilitating a low-cost way to trade cryptocurrencies. You only have to cover the cost of the spread, which is the gap between the bid and the ask price of your chosen cryptocurrency.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks.

Should I Buy Cryptocurrency?

If you believe that digital assets have the potential to be widely used…



Read More: How to Buy Cryptocurrency in Ireland in May 2022

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