In the Netherlands, iDEAL is a low-cost payment processor.
Bank transfers are the most popular payment method since they are one of the most cost-effective and secure ways to purchase cryptocurrency.
It’s no surprise that many individuals and businesses use the iDEAL online bank transfer mechanism to execute Bitcoin transactions.
If you live in the Netherlands, an iDEAL online transfer is one of the quickest ways to get any quantity of BTC.
In this post, I’ll show you how to use it to buy Bitcoins and other cryptocurrencies instantaneously.
Let’s start with the steps.
Buying Bitcoin using iDEAL is a simple process.
The steps to buy Bitcoin cryptocurrency online via the iDEAL bank transfer payment method are outlined below…
Create an account on the official iDEAL website.
Open a trading account on a stock exchange (e.g. Binance or LocalBitcoins)
Fill out the purchase form on the ‘Purchase’ page.
Select iDEAL as your preferred payment option.
If necessary, verify your account.
Purchase BTC and wait for it to be sent.Obtain Bitcoins and deposit them into your cryptocurrency wallet.
Congratulations! For the first time, you’ve successfully acquired the desired amount of Bitcoin!
iDEAL is one of the best ways to buy Bitcoin.
Let’s look at platforms that accept the payment method, as well as key exchange aspects including verification criteria, iDEAL fees, and service availability.
LocalBitcoins is a peer-to-peer (P2P) marketplace platform that connects consumers and sellers while also acting as an escrow service for their transactions.
Vendors can build offers in any of the currencies available in your region using the platform. If you’re new to this platform, I recommend reading my LocalBitcoins review first.
It is available in every country on earth.
There is a wide range of buyers and sellers.
It accepts a variety of payment ways.
Bitcoins are delivered quickly to buyers.
There isn’t a lot of variety in terms of cryptocurrency.
Both sellers and purchasers have the potential to be conned.
LocalBitcoins is a website where you can buy Bitcoin.
This platform is similar to LocalBitcoins, however it is a non-custodial peer-to-peer marketplace. LocalCryptos is a peer-to-peer (P2P) marketplace where users can trade cryptocurrency with one another.
LocalCryptos, unlike other P2P marketplaces, puts you in control (i.e. you are totally in charge of your cryptocurrency investment).
LocalCryptos, on the other hand, adopts a different approach. By giving you authority over your wallet keys, they eliminate a platform risk. Only you have access to your private key when trading, and they never have control of your coins.
Multiple coins are supported.
Your keys are in your possession.
Buyers receive their crypto-coins quickly.
It accepts a variety of payment ways.
Every country on the planet has it.
A small number of cryptos are available.
Scams can target both buyers and vendors.
These are my responses to some of the most often asked questions about how to buy Bitcoins using the iDEAL bank online transfer system.
What exactly is iDEAL?
iDEAL is a popular online payment mechanism in the Netherlands, having been established in 2005.
It works as a direct transfer from your bank to merchants, accounting for more than half of all online transactions in the Netherlands.
Your credentials are not shared with anybody else because the transaction takes place in your bank’s secure environment.
Transactions are instantaneously confirmed or refused, so you won’t have to wait days to find out if your payment was successful.
In the Netherlands, Revolut customers can also utilize iDEAL to make payments.
How does iDEAL work?
iDEAL transactions have a very basic and transparent payment flow.
You choose iDEAL as your payment method, then select your bank from a list of cooperating institutions, fill out your information, confirm the transaction amount, and input your TAN code.
If sufficient money are available in your account, your bank will authorize the transaction, and you will be sent back to the merchant’s page with confirmation of your purchase.
How can I pick the most secure exchange?
To begin, look into the exchange company’s historical milestones. If you look at the year it was founded, you can tell if the platform has been there for a long time.
In any case, the longer the better, as users will provide feedback regarding their experiences.
These Bitcoin iDEAL customers are a valuable source of information because they provide extensive reports on their transfer experiences.
Is it possible to buy other crypto-currencies with iDEAL?
Without a doubt! Unfortunately, you’ll have to first purchase a well-known cryptocurrency (such as Bitcoin, Ethereum, Ripple, or Litecoin) and then swap it for any other cryptocurrency you want.
What is the best platform for iDEAL BTC purchases?
LocalBitcoins, Binance, and LocalCryptos, in my opinion, are the most trustworthy exchange sites for buying bitcoin using an iDEAL online bank transfer as a payment option.
iDEAL is a payment method that allows you to buy bitcoins.
If you’ve read thus far, I’m confident you’ll be able to figure out how to acquire Bitcoins via an iDEAL bank transfer.
When purchasing Bitcoins, however, you should take numerous precautions to protect your funds from cyber-theft, frauds, and online criminals.
To protect it, the first step is to constantly utilize security measures (such as a VPN, two-factor authentication (2FA), and an email notification system).
Most exchanges should have these tools available, and passwords and other public keys should be reset on a regular basis.
More importantly, when storing and transferring Bitcoins, or any other cryptocurrency, you should use hardware (HD) wallets.
Ledger Nano X/S, Trezor, and KeepKey storage devices are designed to work in both online and offline situations.
They also provide a recovery phrase, PIN codes, and password, all of which are produced anonymously. Take a look at my guide to crypto hardware wallets.
HD wallets are more expensive than other wallet types, but they provide a service that hackers cannot access, keeping your crypto-coins offline and secure at all times.
Meanwhile, save this website to your bookmarks since I’ll be updating it as more cryptocurrency exchanges that support iDEAL payment become available.