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How to buy Bitcoin in Norway

Step-by-step instructions for getting started with Bitcoin (BTC) in Norway.

With Bitcoin reaching new all-time-highs in 2021, many investors in Norway are looking to enter the market for the first time. We’ve put together this simple guide to help you buy bitcoin safely and securely.

1. Compare crypto exchanges

The easiest way to buy Bitcoin in Norway is from a cryptocurrency exchange. Compare your options in the table below to find one with the features you want such as low fees, ease of use or 24-hour customer support.

2. Create an account

To create an account on an exchange in Norway, you will need to verify your email address and identity. Have your photo ID and phone ready.

3. Make a deposit

Once verified, you can deposit NOK using the payment method that best suits you – bank transfer, PayID, POLi and credit cards are all widely accepted.

4. Buy Bitcoin

You can now exchange your funds for Bitcoin. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking “buy.” If you like, you can now withdraw your Bitcoin to your personal wallet.

Quick guide: How to buy bitcoin in Norway

  1. Register for an account with an exchange that supports BTC.
  2. Enable 2-factor authentication.
  3. Verify your account.
  4. Click “Deposit NOK”.
  5. Transfer funds into your account.
  6. Click “Buy/Sell” at the top of the screen.
  7. Search for bitcoin and click on “Buy BTC”.
  8. Enter the amount of BTC you want to buy or the amount of NOK you want to spend.
  9. Review the transaction details.
  10. Click “Buy BTC”.

This is our quick guide to just one way to buy bitcoin. Compare some other options in the table below.

Where to buy Bitcoin in Norway

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

26
cryptocurrencies

Disclaimer: Volatile investment product. You should consider whether you can afford to take the high risk of losing your money.
Copy the trades of leading cryptocurrency investors on this unique social investment platform. $50 minimum deposit.
Bitpanda Cryptocurrency Exchange
Cash, Credit card, Cryptocurrency, Neteller, Bank transfer (SEPA), SOFORT
EUR, GBP, CHF, USD

34
cryptocurrencies

A European exchange which enables users to pay in EUR, GBP, CHF and USD through a variety of payment platforms.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

306
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Coinbase Digital Currency Exchange
Bank transfer (ACH)
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more

63
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Kriptomat Cryptocurrency Exchange
Kriptomat Cryptocurrency Exchange
Credit card, Neteller, SOFORT, Skrill, SEPA
EUR

45
cryptocurrencies

Buy a large selection of cryptocurrencies instantly via credit card or bank account after registering. Store your crypto conveniently in Kriptomat's multi-currency wallet.
Exmo Cryptocurrency Exchange
AdvCash, Bank transfer, Cryptocurrency, Debit card, Payeer
USD, EUR, GBP, RUB, PLN, TRY, UAH, KZT

59
cryptocurrencies

A UK-based cryptocurrency platform that provides buyers with a wide variety of payment options.
Revolut Cryptocurrency App
Revolut Cryptocurrency App
Bank transfer, Credit or Debit Card
GBP, USD, EUR, CAD, NZD, JPY, HKD, NOK, DKK & 9 more

21
cryptocurrencies

Gemini Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, CAD, EUR, GBP, SGD, HKD

41
cryptocurrencies

Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

247
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

273
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
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Compare up to 4 providers

A step-by-step guide to buying Bitcoin in Norway

You can buy bitcoin in Norway in two simple steps:

Step 1. Choose a cryptocurrency exchange

If you’ve decided that buying Bitcoin is right for you, decide how and where you’ll make the purchase. There are hundreds of platforms to choose from in Norway, but they can be separated into three main categories:

Bitcoin brokers

Brokers offer the quickest and easiest way to buy bitcoin in Norway, allowing you to pay for your digital coins using fiat currency (like NOK or EUR). Brokers offer user-friendly platforms and allow you to buy bitcoin using familiar payment methods like a credit card or a bank transfer. Their main downside is that they often charge higher fees than other options.

Cryptocurrency trading platforms

These platforms, such as Binance, allow you to buy bitcoin using other cryptocurrencies. They tend to offer lower fees than brokers in Norway and provide access to a more diverse range of coins. However, you’ll usually need to already own another cryptocurrency in order to use this type of exchange, so it might not be suited to beginners.

Peer-to-peer (P2P) exchanges

Peer-to-peer exchanges cut out the middleman and allow users to trade directly with one another. The seller has the freedom to specify the price they want and their accepted payment methods, and this method allows you to trade with increased privacy. However, you may have to settle for a price higher than the market exchange rate. Examples of peer-to-peer exchanges include LocalBitcoins and Paxful. [/fin_accordion][/fin_accordions]

Start comparing exchanges

Step 2. Buy Bitcoin

After choosing an exchange, create an account by providing your email address. Depending on the exchange you use and the regulatory requirements it is subject to, you may also be required to provide your full name, contact information and proof of ID before being allowed to trade in Norway.

Once your account has been verified, you can start to buy bitcoin. This process looks different depending on whether you’re using a broker, trading platform or peer-to-peer exchange.

When using a broker in Norway

Simply enter the amount of Bitcoin you want to buy and the broker’s website will tell you how much it costs and what the available payment options are. Once you make your payment, the broker will send the Bitcoin to your account. From there, you can withdraw the Bitcoin to your personal wallet or send it anywhere else you want.

When using a trading platform in Norway

First, you need to deposit funds into your account. Once you’ve made the deposit, go to the market for the currency pair you want to trade. For example, if you want to buy Bitcoin with Norwegian krone, you’d go to the BTC/NOK section of the exchange website. To buy Bitcoin in that market, place a buy order. There are different order types, but if you simply want to buy at current market prices, you can place a market order.

When using a peer-to-peer exchange in Norway

Browse sell offers to find one with an acceptable price and a suitable payment method. Ideally, the seller will also have a good reputation score, and their notice won’t raise any red flags. Contact the seller, tell them you want to buy Bitcoin and make a deal. Peer-to-peer exchanges usually use escrow services to protect buyers and sellers, but you should still be wary of scammers when using them.

The exact steps you’ll need to follow vary depending on the payment method and type of platform you choose, so keep reading for more details on the different ways you can buy bitcoin.

Go to Coinbase's website

Must read: How to store Bitcoin

After buying Bitcoin, it usually gets sent to your account on the exchange. While some investors in Norway keep their Bitcoin in exchange accounts indefinitely, it’s not the safest option. If the exchange goes out of business, gets hacked or if you somehow lose access to your exchange account, you could lose your Bitcoin.

That’s why it’s usually safer to store Bitcoin in a personal wallet.

To do this, you first need to create a personal Bitcoin wallet address. Then you can send Bitcoin from your exchange account to that personal wallet address.

Read the cryptocurrency hardware wallets guide to learn more about storing your cryptocurrency safely and what types of wallets are available in Norway.

How to pay for your Bitcoin?

Different exchanges in Norway accept different payment methods, so if you have a specific payment method in mind, it can be helpful to specifically look for an exchange that accepts it.

Different payment methods have their own pros and cons as well.


Buying Bitcoin with your bank account

Most Norwegian cryptocurrency exchanges will accept bank transfers and related payment services such as POLi Payments, Osko and PayID. These transfers are often free and near-instant, so they can be an excellent choice where available. Norwegian exchanges that accept these options include Independent Reserve, Quoinex,Uphold,BitFlyer and more.

BPAY transfers are also accepted by some exchanges, but these are usually much slower and may incur fees.

When using an overseas cryptocurrency exchange, you may see bank transfer payment options referred to as wire transfer or SWIFT payment. These payments will usually be much slower (they can take up to a week) and will attract significantly higher fees than domestic bank transfers, including currency exchange fees. If you want to use a specific overseas exchange, it may be preferable to buy cryptocurrency domestically with local currency and then deposit cryptocurrency onto the exchange instead.

Compare Norwegian cryptocurrency exchanges to find one that supports local bank transfers.


Buying Bitcoin with a credit card or debit card

Many Bitcoin brokers in Norway, including platforms like Coinbase and Coinmama, let you buy Bitcoin using your credit card. Trading platforms such as Binance have also started letting customers directly buy cryptocurrency with a credit card via third-party payment integrations.

While this might be more convenient, credit card transactions attract relatively high fees — typically in the 1.5% to 3% range. On top of that, they can also incur cash advance fees. Banks in Norway often don’t look too favourably on these transactions either and some have blocked customers from buying crypto with credit cards. Debit cards aren’t as widely accepted as credit cards but can still be used to buy cryptocurrency on some platforms.

Credit cards aren’t typically accepted on peer-to-peer exchanges in Norway due to the risk of chargeback fraud.

Find an exchange where you can pay for Bitcoin with your credit/debit card.


Buy Bitcoin with PayPal

PayPal is rarely accepted by cryptocurrency exchanges or other sellers in Norway, given the risk of chargeback fraud. This is when someone buys Bitcoin, but then requests PayPal reverse their transaction after they get the Bitcoin, so they get their money back and get to keep the Bitcoin.

If you’ve got your heart set on buying Bitcoin with PayPal, there are still some options though.

It’s unlikely, but not impossible, to find sellers accepting PayPal on peer-to-peer exchanges like Paxful. And if you’re more interested in Bitcoin’s price action than the underlying asset, you can also fund an eToro account with PayPal.

A potentially riskier third option is a relatively obscure peer-to-peer platform called xCoins, which was specifically designed to facilitate PayPal for Bitcoin transactions. It’s a little vague on how it works though and doesn’t have the best security track record.

If you just want to draw down on your PayPal balance, you can also link your PayPal account to a credit card and then buy Bitcoin with that credit card.

Using PayPal can incur additional fees, and it can be difficult to find exchanges in Norway that allow it. But if you really want to use it, there are a handful of options you can consider.

Head to our full list of exchanges that support PayPal to learn more.


Buy Bitcoin with another crypto

Buy bitcoin with crypto

It’s easy to swap other cryptocurrencies for Bitcoin, since BTC is listed on almost all crypto exchanges with a huge range of trading pairs.

You’ll need to search for exchanges in Norway that list your desired trading pair. For example, if you want to trade Ether for Bitcoin, you’d look for an exchange with a BTC/ETH pair. Once you’ve found a suitable exchange, you can buy Bitcoin by following a few simple steps.

Simply create an account, and deposit the cryptocurrency (such as ETH) into your exchange wallet. Then go to the market (such as BTC/ETH) and look for where it says “Buy BTC” or “Sell ETH” as the case may be.

Enter the amount you want to buy or sell and create a new order. If you want to aim for a specific exchange rate, you can create a limit order which may be executed when the market shifts enough that it’s a good offer. If you just want to swap at current market prices, you can create a market order.

Compare crypto-to-crypto exchanges to find one that’s right for you.


Buy Bitcoin anonymously

As a rule of thumb, cryptocurrency exchanges in Norway will always verify your identity if you are exchanging between fiat currency and cryptocurrency. As such, one of the most reliable ways of buying Bitcoin anonymously is by paying with another cryptocurrency on an exchange that doesn’t require user verification. But this isn’t much help if you’re trying to convert fiat currency to cryptocurrency.

In that case, the most reliably anonymous way of buying Bitcoin is to pay with cash or another untraceable payment method, such as prepaid gift cards, on a peer-to-peer exchange.

Other methods, even if they don’t involve identity verification, are only partially anonymous. Bitcoin ATMs have different compliance requirements in different countries, but they will often photograph their users or require them to present ID to a camera in the machine.

And while you can use exchanges such as Changelly to buy cryptocurrency with a credit card, without going through a formal identity verification process on the exchange, these purchases aren’t anonymous. They typically require a 3D Secure card, which means buyers are still being identified.

To learn more, check out our guide on how to buy Bitcoin without ID.


Buying bitcoin on Coinbase

Want to buy bitcoin from a cryptocurrency broker using Norwegian krone? Here’s a step-by-step guide explaining exactly what you need to do, using exchange Coinbase as an example:
Register for an account with Coinbase

You can sign up for a Coinbase account in Norway by providing your email address and creating a password. Before you can trade, you’ll need to verify your account by doing the following:

  • Verifying your email address and phone number
  • Uploading proof of ID and proof of residency
  • Uploading a photo of yourself holding a handwritten statement

Remember to also enable 2-factor authentication on your account for extra security.

Deposit funds into your account

From your Coinbase account dashboard, click the “Deposit EUR” link. You’ll then be able to access the necessary details to transfer funds into your account via your credit or debit card.

Buy BTC

Click on the “Buy/Sell” tab at the top of the screen before clicking on the “Buy BTC” button. Specify how much bitcoin you want to buy or how much NOK you want to spend, then take a moment to review the full details of the transaction before you click “Buy”.

How to choose a Bitcoin exchange in Norway

With hundreds of platforms to choose from, finding the best Bitcoin exchange for your needs is a challenging task. To make your choice easier, consider these key factors when comparing exchanges in Norway:

  • Where the exchange is based and how it is regulated. Using local exchanges can be a good idea where possible. They’re more likely to accept NOK and local payment methods, which makes it easier to avoid expensive international transfers and exchange fees that may be incurred when making a deposit to an overseas exchange. It may also give you more recourse in case something goes wrong as well as additional protections under specific exchange or financial services regulations and any applicable consumer rights laws in your country.
  • Security.Look at the security features a platform has to offer, such as 2-factor authentication and PGP-encrypted emails. Has it ever been hacked or linked to any suspicious activity?
  • Fees. Check the fine print to find out exactly how much your transaction will cost. Depending on the platform you choose, these could include trading fees and transaction fees as well as deposit and withdrawal charges.
  • Transaction limits. Are there any minimum or maximum limits on the amount of Bitcoin you can purchase? Does the exchange restrict the amount of funds you can withdraw from your account in any one transaction or 24-hour period?
  • Supported currencies. As the biggest digital currency in the world by some margin, Bitcoin can be bought and sold on a huge range of platforms. However, if you’re looking to acquire other cryptocurrencies as well as Bitcoin, check to see what other coins you can buy through the platform.
  • Customer support. If you ever have a problem with a transaction, will you be able to quickly and easily get in touch with the customer support team? Check what contact methods are available in Norway and find out how quick the team is at responding to enquiries.
  • Reputation. Finder’s review pages include user reviews, which help you get a better idea of what the exchange is like to use for other people starting out just like you.

Learn more about how to choose an exchange in our cryptocurrency exchange guide

Choose a bitcoin exchange


Buying from a Norwegian Bitcoin exchange: pros and cons

There are plenty of choices when selecting a Bitcoin exchange, and Norwegian users can choose from platforms based here at home or in countries all around the world. So, should you buy Bitcoin from a Norwegian exchange or from a foreign platform? To help you decide, consider the pros and cons of buying on a Norwegian exchange.

Pros

  • You can usually buy bitcoin with NOK.
  • You can access local customer support.
  • You get better consumer protection if your funds go missing.

Cons

  • You’ll need to provide your personal details and proof of ID – a disadvantage for people who want to trade anonymously.
  • The registration process takes longer than on those platforms that don’t require ID verification.
  • Some bigger platforms based overseas offer much better liquidity.
  • Some things are simply not available on Norwegian exchanges. For example, 100x leverage margin trading, staking features and many altcoins.

Regardless of whether you choose a Norwegian or overseas-based crypto exchange, make sure you compare a range of options before deciding which platform to use.


The risks of buying Bitcoin

You wouldn’t invest in shares without doing your research first, so make sure you understand the following essential facts about bitcoin before you buy bitcoin in Norway:

  • It’s volatile. Take a look at a graph charting the price history of Bitcoin and you’ll see straight away that its value is capable of rising and falling sharply in a relatively short space of time. Not only is Bitcoin volatile but, as a very new asset class, it’s also highly unpredictable. This means there’s a high level of risk associated with buying Bitcoin.
  • Security is your responsibility. One of the core ideas behind Bitcoin is to remove intermediaries and middlemen from finance. It does this quite well, but this means that at the end of the day, you’re solely responsible for the security of your Bitcoin. If you lose your private keys or get hacked, there’s probably no one to help you and there’s probably no way of getting your money back.
  • Bitcoin transactions can’t be cancelled. Once you’ve submitted a transaction to the Bitcoin network, it cannot be cancelled. With this in mind, make sure you double-check the receiving address before sending a Bitcoin payment.
  • Bitcoin is not anonymous. There’s a widespread misconception that all Bitcoin transactions are anonymous. This isn’t the case as your public address and the details of your transactions are visible to everyone. If anonymous transactions are an important feature for you, it may be worth researching privacy-focused coins, such as Monero.
  • You need to do your homework. To buy, sell and hold Bitcoin safely in Norway, it helps to do your homework. It’s good to know how to spot scams, what the difference between private and public keys is, what it means when you “fat finger” an order on an exchange and whether it’s called “the blockchain” or just “blockchain.” If you’re looking for a place to begin, try bookmarking our cryptocurrency hub >for future reference.
  • Regulation. The regulatory environment for Bitcoin is constantly changing. The bull market of 2021 caused many regulators and financial bodies around the world to reconsider how they treat Bitcoin, whether in regards to purchasing, taxing, or outright banning it. Even if you live in a country with a supportive regulatory environment for Bitcoin, it is still important to understand how events in other nations have the potential to impact this borderless currency – for both good and bad.

Finally, it’s also worth remembering that Bitcoin is far from the only fish in the cryptocurrency sea. While it may be the biggest and best-known, there are more than 4,000 other cryptocurrencies available as of March 2021 (and growing). While the value of some of these coins is questionable, there are plenty of other digital currencies worth considering as alternatives to Bitcoin.

Must Read: Bitcoin in brief?

Bitcoin is the world’s oldest and biggest digital currency by market cap. Created in 2009 by an unknown person (or persons) using the alias Satoshi Nakamoto, bitcoin is a form of decentralised electronic cash designed to provide a viable alternative to traditional fiat currency.

Rather than having to deal with a centralised authority such as a bank to process transactions, bitcoin holders can transfer their coins directly to one another on a peer-to-peer network. All bitcoin transactions are tracked on a public ledger known as the blockchain, and people working as miners verify transactions and update the blockchain.

bitcoin

The maximum coin supply of bitcoin is limited to 21 million, but it’s possible to buy a small fraction of a coin – each individual coin can be divided down to 0.00000001 BTC. Find out more about how bitcoin works in our comprehensive beginner’s guide.

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Other ways to get bitcoin in Norway

Want to get your hands on some bitcoin in Norway without actually buying it? There are a few options available:


    How to buying Bitcoin OTC

    If you want to buy a large amount of bitcoin, for example 50,000 Norwegian krone or more, you may want to think twice before placing your trade on a traditional exchange. Not only will you be exposed to slippage, which can substantially increase the cost of your trade, but you’ll also need to accept the risks of hacking and theft associated with traditional exchanges.

    Over-the-counter (OTC) brokers can offer better prices, increased transaction limits and faster processing times to large-volume traders. Check out our OTC cryptocurrency trading guide to find out how buying OTC works in Norway, as well as the benefits and risks you should be aware of.


    Next steps

    If you want to buy bitcoin in Norway, start comparing a range of cryptocurrency brokers and exchanges. Look at their features, fees, security and overall reputation to decide which platform is the right fit for you.

    You can then sign up for an account and get ready to start trading. However, make sure you research your purchase thoroughly and are fully aware of the risks involved before you buy.

    Compare Bitcoin exchanges

    FAQs

    Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

    Icons made by various artists on www.flaticon.com

    Disclosure: At the time of writing, the author holds ADA, ICX, IOTA and XLM.

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