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How to Buy & Sell Crypto & Bitcoin in Italy

by Pat

Content Manager

Italians use crypto for a bunch of different things—a speculative investment, a payment method, receive salaries, and a way to send money to family (i.e., cross-border crypto transfers), among others. Crypto adoption is relatively stable in the country, ranking 37th in the top 50 grassroot crypto adopters by Chainanalysis in 2023.

If you want to jump into the crypto market and are wondering how to buy and sell crypto in Italy, this article will guide you through the essentials, including the step-by-step process using a beginner-friendly crypto wallet.

Disclaimer: Not financial advice

Crypto in Italy These Days

Did you know that 1 out of 10 Italians use crypto? According to data from market data provider Statista, the number of crypto users in the country also increased by over 10% from the end of 2022 to the end of 2021. The same company predicted that Italy’s crypto user base may grow to 9.96 million by 2027.

Meanwhile, there’s an increasing number of merchants accepting crypto payments in the country. Also, you'll find more and more crypto automated teller machines (ATMs) popping up in the cities, such as Rome, Milan, Bologna, and Naples, to name a few.

Italian regulators remind people to be cautious about the risks involved with crypto assets and trading, but they recognise the potential and use cases of blockchain and distributed ledger technology (DLT). In fact, the Italian government has been making digital tech a top priority in recent years.  They've started dedicated programs to help fund digital start-ups and to promote Artificial Intelligence as a game-changer in business.

How to Buy Bitcoin and Other Crypto in Italy

You can buy crypto in Italy through different platforms: crypto exchanges, payment platforms, ATMs, crypto wallets, brokers, and more. If you’re looking for a quick and easy way to do it, Ka.app makes a strong option.

It’s a peer-to-peer (P2P) payment app and crypto wallet that allows you to quickly buy crypto with euros via IBAN. They also have a Ramp integration where you can buy crypto with your credit/debit card, or via wire transfer with your bank, Apple Pay, or Google Pay account.

Sign up on Ka.app now to get started. Here are the step-by-step notes:

a.   Buy Crypto via IBAN

IBAN is the best and cheapest way to buy crypto in Italy via Ka.app. It only takes a few easy steps:

  1. Sign in here.
  2. Activate cash on the platform. This will enable EUR and automatically generate your own IBAN on Ka.app. We call it Ka. IBAN.
  3. Go to your external IBAN and transfer EUR to your Ka. IBAN.
  4. Once you’ve received EUR on the platform, click the Convert icon.
  5. Select EUR to your preferred crypto (e.g., BTC).
  6. Enter the amount of EUR that you want to convert to BTC.
  7. Confirm the transaction and you’re done.

b.  Buy Crypto via Ramp (Debit/Credit Card, Bank Transfer, E-Wallet)

Ka.app used Web3 fintech solution Ramp to provide as many options of buying crypto as possible to users. As mentioned, these include using your debit/credit card and making wire transfers with your bank, Apple Pay, or Google Pay account.

Here’s how you can buy crypto in Italy via Ramp on Ka.app:

  1. Sign in here.
  2. Go to the home screen and click the Buy icon.
  3. Select the crypto you want to buy (e.g., KASTA).
  4. You will be redirected to Ramp.
  5. Select the purchase currency and select KASTA.
  6. Enter the amount you of KASTA you want to buy, and proceed.
  7. Select your payment method, whether it’s debit/credit card, bank transfer, or e-wallet.
  8. Enter your card/bank/e-wallet details.
  9. Confirm your purchase.

How to Sell Bitcoin in Italy

On the other hand, if you’re looking for an easy way to sell crypto for EUR and cash out funds to your bank account, you can also do it through some crypto exchanges, crypto wallets, crypto ATMs, brokers, and more. On Ka.app, it works by converting crypto to cash and transferring your funds via IBAN. Let’s flesh out this process below.

Note: If you haven’t already, sign up for a Ka.app account now.

  1. Sign in on the platform.
  2. Click the crypto you want to sell (e.g., USDT).
  3. Convert the amount of USDT that you want to sell for EUR.
  4. Once you’re done, go back to the home screen.
  5. Click EUR and then the Withdraw icon.
  6. Enter your external IBAN details.
  7. Enter the amount you want to cash out.
  8. Confirm the withdrawal.

Final Thoughts

Buying and selling crypto may sound intimidating for new users, but it’s actually quick and easy to do, especially if you’re using Ka.app, a crypto wallet with IBAN. It’s also worth noting that the company acquired an Italian license in March 2023.

Other features on the platform include sending crypto for free to other Ka.app users, receiving crypto with a different currency via Easy Swap Engine, and earning up to 15% on KASTA tokens by locking up KASTA.

SIGN UP ON KA.APP

FAQ

How much are the fees for buying crypto on Ka.app?

Ka.app charges €1 for any incoming transactions under the Single Euro Payments Area (SEPA) system. This applies if you’re depositing euros via IBAN. Meanwhile, the fees for converting EUR to crypto may vary depending on the amount of your transaction.

For Ramp transactions, the fees vary depending on the payment method you choose and the validation/mining costs at the time of your purchase.

How much does it cost to withdraw crypto via IBAN?

IBAN has an outgoing SEPA fee worth 0.19% of what you withdraw or €1. You’ll be charged whichever is higher.

How much time does it take to buy crypto via IBAN?

It depends on how fast you enter the information on your external IBAN, but the transfer itself usually takes a minute or less. Converting EUR to crypto on Ka.app is usually done in seconds.

Do I need to pay crypto-related taxes in Italy?

Yes. Any money you gain from crypto is considered miscellaneous income in Italy. Based on the 2023 budget announcement, profits over €2,000 are subject to a flat 25% crypto tax. However, regulations may change at any time, so please consult with a tax professional to make sure you’re up to date.

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