Learn how to use Bitvavo! Here is our step-by-step guide through the basics of setting up an account, transfer euros and buying cryptocurrency on Bitvavo.
Table of Contents
How to create an account on Bitvavo?
First, go to the official Bitvavo website!
Click on ‘Sign-Up’ and the following screen will open.
Here you will need to enter your name, e-mail address and (strong) password.
Finish off by clicking on ‘Create Account’.
How to confirm your Bitvavo account?
Go to your e-mailbox, you used to create your Bitvavo account.
Where you just received a ‘confirmation mail’ from Bitvavo.
Open it and click on ‘Confirm email address’ in the confirmation email.
You will be redirected to the Bitvavo website where you need to click ‘Verify’.
After verifying your account, you can now login to deposit fiat and buy cryptocurrencies.
Going through identity verification is not necessary as you can still deposit up to €5000.- into your account without verifying your identity.
These funds can be used to trade with. However, in order to withdraw or deposit digital currency it is necessary to verify your identity, this also applies to withdrawing euros from your account.
Trading platforms are required to maintain this Know Your Customer – KYC verification to prevent fraud and money laundering. Learn more here.
How to transfer money to your Bitvavo account?
Now that your Bitvavo account is verified and secured, you obviously want to deposit money into your account.
You can do this by a SEPA bank transfer or an iDEAL transaction. We recommend iDEAL, as your money will be instantly added into your account. In addition, no costs are charged for iDEAL transactions as well.
It is only possible to deposit money from a bank account linked to your name.
How to deposit fiat - euro to your Bitvavo account?
Depositing money on Bitvavo can be done as follows;
At the bottom of your dashboard you will see ‘Deposit Euros‘. Click on it to go to the next screen.
The screen ‘Deposit Credits‘ will appear. Fill in the desired amount of Euros you want to deposit at ‘Amount‘.
Choose the desired payment method and click ‘Continue‘.
As you continue, you will see your chosen amount, any additional transaction fees and the total amount of the transaction.
Click on ‘Choose your bank‘ to select the bank from where the money will be deposited.
How to buy cryptocurrency with fiat - euro on Bitvavo?
Once you have deposited money into your Bitvavo account you can now buy cryptocurrency.
Go to ‘Dashboard‘. Scroll down to the desired currency or type the preferred crypto in the search bar.
Click on the name of the currency to visit the buy and sell display.
Under ‘You will pay‘, enter the amount you want to purchase the currency for.
You will immediately see how much of the chosen cryptocurrency you’ll receive at the current price.
You will see that the order has been processed and that the amount includes additional trading fees.
Once you have purchased your cryptocurrency, you can choose to witdraw it, sending it to a hardware wallet or another cryptocurrency exchange.
For long term investments we recommend a hardware wallet.
Consider that you do pay a transaction fee for such transactions. Comparable to transferring Euro from one bank-account to another.
1. To withdraw/send cryptocurrency, scroll in the dashboard to the coin you want to send.
3. The following screen will ask you to fill in the recipient address.
Always check this address carefully
If you send this to the wrong address you will not be able to retrieve you cryptocurrencies.
4. Make sure you verify the address by using the screen capture of the address.
This is only needed the first time you send to this address.
It serves for an extra security measure so that people don’t send their cryptocurrency to the wrong address.
5. Go to your e-mail and make sure you verify the address. So you can start sending your cryptocurrency.
6. Now enter the amount of cryptocurrency you would like to withdraw. When you have chosen the right amount press ‘Continue’.
7. You will then be asked to confirm your transaction by entering your two-factor-authentication – 2FA code.
8. Congratulations! You have successfully withdrawn/send your cryptocurrency of Bitvavo!
If you have troubles or any questions regarding Bitvavo safety and security, please refer to our Bitvavo Safety & Security page.
For immediate assistance reach out to support@bitvavo.com
