How to Buy Bitcoins in Malta (2018 Update)

In this article, we will talk about “How to Buy Bitcoins in Malta.” Well, there are a lot of cryptocurrency exchanges to buy any cryptocurrency in the world. Each exchange has its account opening process, the fee for trading ( buying and selling Bitcoins, or exchange bitcoins with other cryptocurrencies) and other features.
For you, we will introduce the exchange, guide you about the account opening process, will do the review (pros and cons of exchange, user’s online reviews) and explain the complete trading process for beginners to get started. Before we get started, let me give you a short introduction of some terms like “cryptocurrency,” “Bitcoin wallet Wallet, “Blockchain Technology” and “Initial Coin Offerings (ICO).”

  • What is Cryptocurrency: Cryptocurrency is advanced money for which encryption systems are utilized to manage its utilization and produce it. Unlike fiat money — like US dollars, Euros and yen — Cryptocurrency is not directed or controlled by any bank, government or incorporated budgetary experts. Read more about it here.
  • What is Bitcoin Wallet: Although Bitcoin is a decentralized worldwide currency with no need of Banks for its control and distribution, it needs a place of safekeeping. Bitcoin wallets are required just for this; just as Bitcoin is digital, so are most wallets. Unlike a bank account, a Bitcoin wallet assures the anonymity of the wallet owner and is easy and quick to open. In fact, it takes only a few minutes to open a wallet, which activates immediately. Read more about it here. 

Related reading, see: How to Protect Your Bitcoin Wallet

  • What is Blockchain Technology: The blockchain is a decentralized ledger used to record transaction or data across several computers, such that the record cannot be changed without changing all subsequent blocks in the network. This means that transactions cannot be deleted. It enables users to verify transactions easily. By being decentralized, it is difficult for hackers or cyber thieves to exploit Blockchain transactions. Read more about it here.
  • What is Initial Coin Offerings (ICO): ICOs are an unregulated means by which market capital is raised for a venture. What happens is that a white paper is created declaring the purpose and agenda of the project. It identifies the goals and objective and what amount of money is required to achieve them. It also specifies how long the ICO campaign is going to run for. Read more about it here.

How to Buy Bitcoins in Malta

To buy bitcoins in Malta, first, you need to open an account on the cryptocurrency exchange which is operated in Malta, and then follow the trading procedure for that exchange to buy bitcoins or any other cryptocurrency traded at that exchange. In this article, we will cover account opening procedure, trading guide, payment methods offered by that exchange, and security and features like fee, etc. charged by that exchange. So Let’s talk about best exchanges to buy bitcoins in Malta.

  • Buy Bitcoins in Malta via HitBTC

HitBTC is a European platform for cryptocurrency exchange. HitBTC initiated in 2013. It is operated in Chicago by Hit Techs Limited. This platform provides access to multi-currencies from the list of altcoins under the single rooftop of HitBTC. HitBTC platform registered on Hong-Kong authority with the number 2510720. It is a private company limited by shares. In 2015 this exchange was hacked at the same time when BTER and Excoin hacked. But HitBTC did not reveal how many coins were stolen and give the statement that no user funds are affected by this hack.  As it is an exchange of multi-currencies and an individual can also trade using fiat currencies. For the deposit and the withdrawal of fiat currencies within Europe, processed by using SEPA transfers and wire transfer can be used for the transfer of funds in other countries.

For Related HitBTC Guides, Please see:

Account Opening Guide, Review of the Exchange, Complete Trading Guide, Frequently Asked Questions, & Security Features

  • Buy Bitcoins in Malta via

CEX.IO is one of the world’s famous platform, mostly used by the professional traders. It is a London/ UK oriented exchange initiated in 2013 that allows the user to sell, buy and trade with the cryptocurrencies. In the sea of cryptocurrency exchanges, the reason of fame for the CEX.IO is that it allows the withdrawal of fiat currency using credit cards. Many exchanges do not provide this facility.  CEX.IO offers the number of different pairs of cryptocurrency for the trading purpose. Few of them are BTC/USD, BTC/GBP, BTC/RUB, ETH/BTC, ETH/ETH, LTC/USD, LTC/BTC, BTC/EUR, etc. Moreover, the exchange rates on CEX.IO are based on the market activity. Traders on CEX.IO exchange buy and sell the bitcoins at the time of rate fluctuation. The rate of the exchange is changing with the rates of the market, but it remains in between 0.5% to 2% of the market rate. The overall rates at CEX.IO exchange are higher as compared to other exchanges, so, it is important to note before an individual choose CEX.IO for trading purpose.

For Related Guides, Please see:

Account Opening Guide, Review of the Exchange, Complete Trading Guide, Frequently Asked Questions, & Security Features

  • Buy Bitcoins in Malta via Coinbase

Coinbase’s GDAX is a cryptocurrency exchange that deals with both fiat currency and cryptocurrency. It trades USD for Etherueum, Bitcoin, and Litecoin. A Coinbase’s GDAX allows some cryptocurrency pairs trading via Coinbase’s platform. GDAX also permits the user to trade Euros and USD for Bitcoin, Litecoin, and Ethereum. People can also useThe British ponds for bitcoin trading, and the user can also use Bitcoin for Litecoin and Ether and Litecoin and ether for the trading of Bitcoin. But one important thing is not all trade types are used. Like if the user wants to trade with Litecoin for Ether he cannot do it directly. He has first to change Litecoin to Bitcoin then trade it with ether. So, the choice of coin pair for trading is limited in GDAX, but still, GDAX is a smart platform to initiate with the cryptocurrency business for anyone. GDAX is almost operating in every state of the USA. It is one of the platforms of Coinbase, and it offers low fees for the trading of cryptocurrencies as compared to the other exchanges of the market. Its feature that attracts people towards GDAX exchange is that USD can be converted into cryptocurrencies and then back into the fiat currency easily. If the user is comfortable with the usage of Coinbase exchange platform then for him the next reasonable step is to move towards the GDAX due to its lower fees. After having full knowledge of the GDAX user can step forward to other related altcoin exchanges.

For Related Coinbase Guides, Please see:

Account Opening Guide, Review of the Exchange, Complete Trading Guide, Frequently Asked Questions, & Security Features

  • Buy Bitcoins in Malta via Bitstamp

Bitstamp exchange is a European platform for bitcoin trade. It provides the facility for all people around the globe to safely sell and purchase the bitcoins. This exchange takes money in the form of cash, bitcoins, Litecoins and Altcoins for trading. The Bitstamp exchange allows clients to exchange their cash for bitcoins and vice versa. Bitstamp is a worldwide platform that provides the users for exchanging money and the bitcoins in a safe and simple trading environment. At this platform, individuals do not need to buy and sell their bitcoins without guarantee. It has a very easy and a fast process to open an account on the Bitstamp. Moreover, Bitstamp is one of the oldest and most reputed exchanges of cryptocurrencies. It is functioning since 2011. It is particularly good for intermediate and expert users who wish to business in Bitcoins, fiat currencies, and altcoins. It is also one of the cheapest exchange as compared to other exchanges in the market. It offers very small fees for a large volume of the digital currency. It is particularly popular among the people of Europe.

For Related Bitstamp Guides, Please see:

Account Opening Guide, Review of the Exchange, Complete Trading Guide, Frequently Asked Questions, & Security Features

  • Buy Bitcoins in Malta via Kraken

Kraken is a well-known US-based exchange for cryptocurrencies operating in various countries including US, Canada, Japan and Europe. It is the world’s biggest cryptocurrency exchange concerning volume and also biggest exchange for Euro currency trading. Kraken exchange started in 2011. Kraken exchange is for the trading of several cryptocurrencies including Bitcoin, Ethereum, Dash, ICN, GNO, Ripple, Zcash, GNO, ICO, MLN, REP, Stellar, Cash, Litecoin, etc.  Kraken is the first exchange that provides Bitcoin pricing on the Bloomberg Terminal.  According to a report from April 2017 Kraken organizes fiat financings to transfer government-issued currencies and dominated US Dollars. Kraken exchange has suffered from some issues including the attacks of DDOS and about the performance throughout the year 2017. At the end of the year, the CEO of the exchange had apologized for the problems faced by the users using the official site of the Kraken, but he acclaimed his security, by mentioning the flawless records of Kraken.

For Related Kraken Guides, Please see:

Account Opening Guide, Review of the Exchange, Complete Trading Guide, Frequently Asked Questions, & Security Features

  • Buy Bitcoins in Malta via LocalBitcoins

Local Bitcoins is a Finland based bitcoin exchange that operates using a different exchange method. It makes use of over the counter trading method that allows users to trade using their local currency for bitcoins. Local Bitcoin is different in the sense that it allows users to quickly find and connect with local Bitcoin traders. Local Bitcoin collects a one percent fee on each trade as this is in exchange for providing the platform and other resources for users. On Local Bitcoins, sellers put up ads on the website for potential buyers who are interested in buying Bitcoins.

  • Buy Bitcoins in Malta via Lake BTC

This trade market should be considered if you are looking at the security measures of the platform. The transaction fee is competitive, and it supports most popular currencies.

  • Buy Bitcoins in Malta via CoinMama

Coinmama is another popular Cryptocurrency Exchange. Using Coinmama, you do not require any form of account verification. It has an easy to use interface that is good for first-time Cryptocurrency buyers. It offers various features including;

  • It makes use of popular payment methods such as Visa, MasterCard, Credit and Debit cards, etc. Users also have an alternative to buying using western union. On coin mama, most people make use of the credit card option for payment. Hence, it has a set global credit card fees.
  • Coinmama supports many countries, and it is one of the exchanges with a wide range of countries supported. Coinmama also supports around fifteen US states which include; California, Florida, Illinois, Indiana, Massachusetts, Michigan, Texas, Pennsylvania, etc.
  • Coinmama has a rule that enables customers who purchase $150 (one hundred and fifty dollars) worth of bitcoins to purchase it without any form of verification, but for users purchasing above that amount, they are required to verify their identity for security reasons.
  • For users who want to buy a large amount of Bitcoin per day, Coinmama could be one’s best bet as it allows users to buy up to five thousand dollars worth of Bitcoin per day. It also allows users to purchase up to twenty thousand dollar worth of Bitcoin per month.

We are currently working at the other two exchanges to buy bitcoins in Malta, Binance, and Changelly. We will soon update our review, account opening and trading guides.

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