How to Buy Ethereum (ETH) with Giropay on bitFlyer
Any of the Top-10 most popular cryptocurrencies can be bought easily even by the least experienced users. The market offers a huge number of options -- from peer-to-peer transactions to trading on an exchange. You can buy Ethereum, or rather its Ether token, almost everywhere. However, bitFlyer offers to do it in an instant, safe, and comfortable way.
Security and convenience apply both to our exchange and to all methods of purchasing ETH available on our platform. With that in mind, our users can focus on actual trading, and therefore we try to provide customers with the widest choice of ways to buy Ethereum online.
This page is a guide to buying Ethereum using Giropay. If you are not familiar with this technology, the information below will give you a good overview.
Advantages of buying Ethereum (ETH) with Giropay
The main thing you need to know about Giropay is that it is a popular payment system from Germany that, at the same time, works as an online banking service for several German banks. Giropay allows its users to safely conduct transactions online using direct online transfers from their bank accounts. Giropay acts as SEPA transfer but is much faster.
Some banks offer two-factor authentication (2FA), others, however, offer simpler PIN or TAN-based online banking services. At the same time, all sensitive information such as credit card details or Giropay account numbers is hidden from the merchant (in our case, the bitFlyer platform). According to official figures, more than a million transactions go through this payment service every month, demonstrating its popularity as a payment method.
Steps for buying Ethereum (ETH) with Giropay on bitFlyer
Buying ETH with Giropay has some prerequisites. First, your bank must support this system. If you are a German citizen, then there should be no problems, because this payment platform covers around 80% of German-based banks. If not, you most likely will need to choose another payment method available on bitFlyer and described in the section below.
Once you make sure that Giropay works with your bank, you can proceed directly to purchasing Ethereum. To do this:
- In case you are new to our platform, you need to create a bitFlyer account first. It is absolutely free.
- Verify your email and phone number in order to make financial transactions on our site. By providing additional identity documents, you can upgrade your account to Trade Pro. This type of account is best for high-volume traders, as it doesn’t have a limit on replenishing or withdrawing fiat and cryptocurrencies.
- Go to the Instant buy tab.
- Select the desired cryptocurrency (in our case Ethereum), indicate the amount you would like to purchase or pick one of our users' popular choices.
- Choose Girpoay as a payment method.
- Review the purchase details and click on “Continue”.
- In a new window prompted by Giropay, complete the purchase process.
After the transaction is completed, your newly bought ETH will be credited to your account immediately. After that, you can sell coins when necessary or withdraw them to an external crypto wallet. In the second case, the fee for withdrawing Ethereum coins will be 0.005 ETH.
Other methods of buying Ethereum (ETH)
Even if your bank does not support Giropay payments, you can always choose one of the other purchasing methods supported by bitFlyer. You can buy Ethereum using a standard SEPA bank transfer, which is available to all EU residents. By using the Instant buy function, you can buy cryptocurrency using VISA and Mastercard, or iDeal and Sofort online payment systems.