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- 1 Bitcoin, the oldest and most valuable digital currency, is used by individuals without any permission or participation in regulatory activities.
- 2 The cryptocurrency is used worldwide and in Finland, Bitcoin is legal, making it one of the most cryptocurrency-friendly countries in the world.
From imagining a digital currency to purchasing products using digital assets, the world continuously evolved. Thanks to the cryptocurrency-friendly countries, which played a major role in the promotion of digital assets. Finland, a country of innovative approaches, made Bitcoin completely legal.
The Relationship Between Finland and Cryptocurrency
Bitcoin, introduced by Satoshi Nakamoto in 2008 is the first ever digital currency and was released as an open-source software. The control, creation, and management of digital assets don’t rely on central authorities, making them more independent and decentralized. With time, the cryptocurrency developed a strong position in the financial industry and had more room to run. Countries like El Salvador and the Central African Republic (CAR) have made cryptocurrencies completely legal. Running in the same race, Finland also authorized Bitcoin which means one can purchase goods and services in digital currencies with or without taxes.
Despite being a cryptocurrency-friendly nation, Finland does not have a Bitcoin trading platform, which means you have to use some other platforms to buy Bitcoin. How to buy Bitcoin in Finland? Which platforms to use? Let’s take a look at the complete process of Bitcoin buying.
How to Purchase Bitcoin
Being a trader, it is difficult to buy Bitcoin in Finland as the country doesn’t have its own Bitcoin trading platform. Before exploring the platforms, let’s first uncover the basic process of Bitcoin buying. The very first step is to open an account on the respective platform that you found relevant to your needs. Filling in the necessary details along with providing documentation for the KYC process is all you need to do to open an account. Skipping the KYC process doesn’t make you eligible for the withdrawal and requires two minutes of time.
The next step is fund deposition which mainly depends on the platform you are using. It is important to check the deposit options while selecting the broker, the action will help you in making the right choice. After making a deposit, the next thing you have to do is search for Bitcoin, place an order, and purchase the fraction of coins. This is all about the general process of Bitcoin buying. The next thing to look for are platforms. So, without wasting a single second, directly dive into some of the popular platforms available in the crypto space.
Crypto.com with a 0.4% trading fee, Bitstamp with a 0.5% trading fee, and Coinbase with a 1.49% trading fee are some most reliable options to consider. Binance, LocalBitcoins, and Northcrypto are also some powerful platforms running in Finland’s Crypto space. In addition, you should also be aware of the top payment methods to buy Bitcoin in Finland including bank transfer, credit/ debit card, PayPal, Zengin System, Revolut, and SEPA.
Conclusion
Finland, a leading innovator in the world, is accepting Bitcoin to purchase goods and services. Despite having its own Bitcoin trading platform, the country has legalized Bitcoin. Crypto.com, Bitstamp, Coinbase, Binance, LocalBitcoins, and Northcrypto are also some powerful platforms for buying Bitcoin.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
