Within the Netherlands, it is legal to buy, sell, and hold Bitcoin. However, not a lot of regulations have been made around it. How to buy Bitcoin thus comes down to, where to buy Bitcoin in the Netherlands. In this article, we answer some of your questions on how to buy Bitcoin in the Netherlands and show you where you can buy it. But also hold and earn Bitcoins in this country.
Entering the crypto space works differently in every country around the world. This all depends on how difficult the government makes it. And whether or not they allow it. The Netherlands like most countries does push a bit against the industry. But we also see a lot of interest in it from its people and some financial institutions. I mean come on, Yada on the Block is even a Dutch company. And also one of the most famous people in Bitcoin, PlanB (the creator of the Stock To Flow model) is a Dutchy.
Where to buy Bitcoin with Ideal?
The favorite and number 1 payment method in the Netherlands is Ideal. Dutch people use it for almost all their online purchases. However, it is not a widely used payment method worldwide like Visa, Mastercard, or Paypal. But for the Dutch people, no Ideal usually means no purchase. So for any good crypto exchange that wants to serve the Dutch market, having Ideal as a payment method is a must.
Especially large international exchanges should pay attention to this as it makes it very easy to push Dutch crypto buyers to other local platforms. This for example happened with Binance. They used to have the Ideal payment option but this has been paused for months with no outlook of when it will return. And thus making Dutch people look for other options.
Although The Netherlands is a small country, its population and richness are definitely not small. Making them a good market to serve, especially in a growing crypto market. These 4 companies below definitely understood that idea and do accept IDEAL as a payment method. So you can buy Bitcoin there if you do not think it's too late.
Trading Bitcoin in the Netherlands
Everyone in the Netherlands that is 18 years or older is technically allowed to trade cryptocurrencies like Bitcoin. As long as you are not in direct violation of specific market restrictions etc, you should be able to trade BTC in the Netherlands. All of the platforms listed to accept IDEAL also allow crypto trading for Dutch residents and all have Bitcoin purchase options.
Because the Netherlands has little to no restrictions on trading crypto (besides KYC, and AML), you won't find any issues with setting up an account or any paperwork that the government requires of you. The Dutch government only asks you to disclose the value of your crypto holdings, if you are a Tax resident in the country. They ask for this information on all your crypto holdings for both custodial and non-custodial
Capital gain in the Netherlands
Unlike in countries like the USA and Ireland, in the Netherlands, you do not have to pay capital gain tax. So the Dutch traders do have one step ahead of those from the USA. Not paying capital gain tax makes the Dutch able to trade their way to riches quicker. Because they do not have to pay a tax every time they sell an asset. This works alike for all assets traded by the Dutch. So also crypto and Bitcoin. Making it much more attractive for the Dutch to trade with Bitcoin than it is for many other countries.
Holding your crypto in the Netherlands
Just like anywhere else in the world you can choose to hold your crypto and Bitcoin in a custodial or non-custodial way. This means that you can either hold your funds with one of the exchanges that we listed earlier. Or you store them in your own wallet. Which makes it more use full and lets you benefit from Bitcoin’s use cases.
Holding your funds with a custodial in the Netherlands does mean that they have access to your transactional data and your identity. Whereas holding your funds in a non-custodial wallet puts all ownership in your hands. Especially if you bought your BTC peer 2 peer. Meaning that there is no record of your ID linked to your funds. This makes it much safer to store your funds as no one will know that it's yours or can stop your transactions for whatever reason. Keeping your BTC in your own wallet thus makes it much safer while also protecting you against central bank-created inflation. But for this, you will need a good BTC wallet.
Best Bitcoin wallets for the Netherlands
Bitcoin was created to be peer-to-peer. So in the Netherlands, like anywhere else, it works best to store and hold on to your own coins. For this, you will need the best Bitcoin wallet. The best BTC wallet in the Netherlands should be the same as anywhere else. Because Bitcoin wallets are software apps that you can install on your phone or computer. This software can be copied and sent or downloaded by anyone. No permission is thus needed to have your own wallet. And wallets work the same around the world.
So having a Bitcoin wallet in the Netherlands works the same as anywhere else. This give you a large variety of Bitcoin wallets to choose from. You can use main-chain wallets, lighting wallets, Stacks wallets, or a combination of all. Just make sure that you use a non-custodial wallet and make a good backup. So you can use the best Bitcoin wallet in the Netherlands in a safe and responsible way.
Earning Bitcoin in the Netherlands
The Bitcoin circular economy works everywhere, and so also in the Netherlands. But to take part in the Bitcoin economy you will first need to have some Bitcoin. The best way to earn some BTC would be by providing a service in exchange for some Sats. However few companies in the Netherlands currency allow you to take your salary in BTC. Hopefully this will change in the future as Bitcoin gets adopted more.
For now, the 2 most popular ways to earn Bitcoin are by either doing gig work of BTC or by earning some for free by playing games. Gig work for Bitcoin is an efficient way to earn some Sats without having to put in your savings. But you will need to work a bit extra. So if you thought about starting a side hustle and wanted to invest in BTC. This might be a good combination for you.
Earning some Sats by playing games might be another good option. Especially if you have more time and not enough skill on hand. Game companies like Zebedee focus on this simple aspect. By providing players of their games to access a Bitcoin lightning network wallet. They open the doors for earning Sats in game. And thus gaining some real-world value from playing games. Which they can spend again in stores that accept Bitcoin.
Final thoughts
The Bitcoin economy in the Netherlands is still in its infancy, and a lot of growth is still needed before it can stand on its own. But getting your hands on some Bitcoin shouldn't be too hard. Because almost anyone can buy Bitcoin in the Netherlands, hold it, and use their BTC.
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