GefaraPay.com is the partner of Gefara Group, with headquarters in Vienna (Gefara GmbH, Rosenbursenstraße 2/21, 1010 Vienna, Austria, registred under FN 467569 b) .
The ability to work with different crypto-currencies in one service.
Advantageous exchange rate, minimum commission for conducting operations.
- Attentive technical support
- Intuitive interface
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Cryptocurrency exchange recommendations from Gefarapay
Gefarapay is one of the best platforms in Europe where you can buy or exchange to Euro bitcoins and other popular cryptocurrencies. We provide our clients with opportunity to conduct fast transactions with Bitcoin, Zcash, Litecoin and Dash and by using our secure online wallet you won’t have to worry about your funds.
Despite the fact that there are more than thousand different cryptocurrencies bitcoin still holds the first place. That’s why when talking about our services we decided to take bitcoin as an example but this information is equally fair for Zcash, Litecoin and Dash.
So why exactly are cryptocurrencies so interesting and what is the main advantage do they have of fiat money? Cryptocurrency - is an international, secure, anonymous and relatively inexpensive way to conduct money transactions known for transparency and low fees. A big part, certainly, goes to their decentralization. The usual traditional currencies are regulated by the government and banks, and therefore are easily exposed to emissions and devaluation. Bankruptcy of the bank leads to irreversible money loss of client’s money. Cryptocurrency was created to break this imperfect economic system and protect its owner.
In Switzerland, bitcoin is not subject to VAT, and one of the Swiss private banks "Falcon" became the first bank in the history that sells BTC to its customers.
Users that are only starting their acquaintance with cryptocurrencies usually wonder where to get bitcoin. Let's look into the basic ways of receiving and buying bitcoin.
The main advantage of mining is that you actually don’t need to buy or exchange currency to bitcoin. In simple words, it is a process of confirming bitcoin transactions for which the miners collect rewards.You can do this by yourself or join mining pool that allows to share resources and, obviously, rewards. But you must also consider the cost of buying an equipment as well as electricity bills, the total amount could easily exceed potential profit.
Every four years the amount of bitcoin rewards for mining reduces by half.
Bitcoin trading platforms
Bitcoin trading platform (or bitcoin stock exchange) - is an electronic marketplace where traders have a possibility to buy and sell BTC by using fiat currencies or altcoins. Stock exchange acts as an intermediary between cryptocurrency buyers and sellers. The main advantages are the absence of a complicated registration procedure, variety of payment methods and lower risk of volatility. However, in order to perform profitable bitcoin and other cryptocurrency exchange deals you need to have a certain experience in the field. Furthermore, users often have to store their cryptocurrency directly inside the trading platform and they are regularly subjected to hacker attacks. It is not difficult to guess that this results in bankruptcy and irretrievable loss of funds.
Tokyo based cryptocurrency trading platform Coincheck Inc pledged to pay $ 425 million to its customers, that have been stolen during one of the biggest hacker attacks in history.
Purchase from private persons
The purchase of bitcoin directly from another individual can be the fastest and most anonymous way to obtain it. Most likely, you won’t have to provide any documents or wait for confirmation of verification. And when dealing with cash, you don’t have to disclose any personal information. Unfortunately, the most important drawback, often negating an impressive list of advantages, is the lack of reliability. Finding a trustworthy person and agreeing on acceptable price for the exchange of bitcoins is an extremely difficult quest.
A resident of Brooklyn decided to avoid formalities of trading platforms and exchangers, and found someone who was willing to buy bitcoins on Craigslist. Two men agreed to make an exchange in the car of the buyer. As a result the unlucky seller was forced to give the robber his phone at a gunpoint , having previously transferred him 1100$ worth of BTC.
The is definitely no lack of exchanges these days and it’s probably the easiest place to get bitcoin. Before choosing one of them, it is worth analyzing several factors.
1. Ease of use
If you are just making first steps in the world of cryptocurrency, first of all you should pay attention to the simplicity and clarity of the interface, as well as detailed instructions for using the service. The availability of live chat technical support, as opposed to old school email requests, is an undoubted plus.
Most of the exchangers charge a service fee for transferring fiat currency to cryptocurrency, and vice versa. Usually, the number varies from 1% to 6%. Frankly speaking, selecting the appropriate exchanger should not be guided solely by the amount of these fees, but if you plan to exchange cryptocurrency in large quantities and on a regular basis, you definitely need to make a comparative analysis of the market.
Generally, bitcoin exchangers set certain limits on the maximum amount of funds that can be paid at a time, as well as the amount of cryptocurrency that you can buy. Moreover, part of the exchangers regulates a daily restriction on the amount of funds withdrawn from the site. If you have an idea about the specific number of planned transactions, don’t forget to check the page with the limitations of the chosen platform.
4. Transaction speed
Quite often transaction speed becomes a decisive argument in favor of a particular service, seems like everyone is chasing the quickest bitcoin deal. Although, it is very difficult to predict the exact time since each operation requires confirmation. Depending on the blockchain overload time of the operations may vary. In addition, we must say that the banking system also affects the speed: the payment method plays a big role here. As a rule, credit cards, despite a higher percentage of commissions, are one of the fastest options to get a bitcoin. Alternative methods such as SOFORT for example take an average of 30 minutes to exchange bitcoin for a currency. Bank transfer is considered to be the slowest way to buy bitcoin
Despite the reliability of blockchain technology and cryptocurrency in particular, it is almost impossible to eliminate the risk of hacker attacks. It is very important to pay attention to how seriously the chosen exchange manages the problem of protecting your account. Usually, when trying to buy bitcoin, most users are extremely negative about the long verification procedure and the need to provide their ID to the service but still look for the most reliable service. On practice the more precautionary measures crypto exchange platform takes, the carefully it protects customers. A trusted bitcoin platform should provide you with two-level defense system as a mandatory minimum.
Mt Gox, one of the world's largest bitcoin exchangers, collapsed in February 2014 after hackers managed to steal million dollars worth of bitcoins.
Gefarapay is a multifunctional service for working with cryptocurrencies oriented to the European market and deals in Euro. On one website you can not only create your own cryptocurrency purse, but also store, exchange and withdraw bitcoin and other popular cryptocurrencies such as Litecoin, Zcash, Dash.
Perhaps the most popular cryptocurrency today and does not require a special presentation. On our website you can open a secure bitcoin wallet, as well as buy, sell and even send BTC to other users within the platform almost instantly. Among other things, you can send cryptocurrency to a user who is not a Gefarapay customer, in this case he will receive a message with a link to create his own account.
Litecoin was created in order to take the place of "silver" under the primacy of "gold" bitcoin and very quickly found serious support in the blockchain industry. Among the main differences: more coins (4 times more than BTC) and faster transactions. And although bitcoin is still a confident leader, litecoin is known for the ease of obtaining and conducting transactions.
Another answer to bitcoin with the focus on confidentiality. Zcash uses transparent processing method, which allows to display information about user transactions selectively. By using a special cryptographic protection tool users who make transactions with Zcash do not need to disclose their addresses. The combination of privacy and all the advantages of blockchain technology makes Zcash an attractive option for business and large organizations.
Dash is the fork of bitcoin that also aims to provide users with a faster and more confidential service. Confirmation of transactions takes a few seconds which eliminates the risk of double spending. In April 2017, Dash took the 5th place in the ranking of the most popular cryptocurrency.
You can top up your balance on Gefarapay by using SEPA bank transfer, traditionally with VISA and Mastercard credit cards and a number of alternative payment methods, such as SOFORT, Neteller, Skrill.
Creating an account
In order to buy bitcoin on Gefarapay the first thing you need to do is to create your online wallet, detailed instructions on how to create it are also available on our website. You simply need to enter your phone number and create a password. After entering the code from the message on your phone, go to Settings and fill in and confirm your email address. In the end you should create your personal pin code. As a result, your cryptocurrency exchange account will be reliably protected by a three-level security system.
In addition, in order to replenish balance on your account it is important to pass a verification procedure. This measure is necessary to ensure security for both parties, and identity verification, as a rule, is carried out in the shortest possible time.
On the "Settings" page, select the "Verification" tab. After filling in required details and uploading photos of the identity document, press the "Download" button, and wait for confirmation of verification.
After successful completion of all registration stages, you will be granted access to all the operations and you can start buying and exchanging bitcoins into euro (and vice versa), as well as perform other operations with cryptocurrencies.
Topping up the balance
In order to buy bitcoin you must make a Euro deposit to your personal account. In the left part of the screen there is an information about the current balance: your accounts in Euro, BTC, and also other cryptocurrencies. Below are the "Actions", "History" tabs, "Settings" and "Support" that are already familiar to you. Click on the button "Actions" and stop at the opened "Deposit" tab. In the column "Method", you must choose the most appropriate payment method. At the moment, Gefarapay allows you to replenish your balance with the help of SEPA bank transfer in Euro using VISA and Mastercard credit cards, as well as a number of alternative payment methods, such as SOFORT, Neteller, Skrill.
Exchange Euro to bitcoins
After successfully replenishing the balance, you will finally be able to buy your first bitcoin. On the "Actions" page you need to open the "Exchange" tab. Here everything is very clear: you choose the currency or the cryptocurrency, which you are going to exchange and enter the necessary amount in the left window that says "You pay". On the right side you will instantly see the amount in bitcoins and Euro that you operate during the exchange. Do not forget that cryptocurrencies are extremely volatile, their rate changes very quickly, so the most accurate amount you will see after clicking the "Exchange" button.
In case you need to withdraw euros after buying bitcoins Gefarapay will gladly help you with this task, just click on the "Withdraw" tab in the "Actions" menu.
In order to receive a SEPA transfer in Euros, you need to enter the desired amount, and also fill in the information about the bank account: full name or company name, BIC and IBAN numbers. You can find the total amount (considering the commission fee) written below, and to complete the operation you just need to press the "Withdraw" button. The transfer is executed within one work day.
With Gefarapay you can not just exchange and buy bitcoins, but also send cryptocurrency to other users within the site. There is nothing complicated about it: on the "Actions" page select the "Send / receive crypto" tab and specify the necessary amount, as well as the bitcoin-address or mobile phone of the recipient and then click on the "Send" button. If the receiving party does not have an account on Gefarapay yet, a message will be sent to his/her mobile phone with a link to create a profile which will be later credited with relevant amount. Commission fee is fixed: 0.0006 BTC per transaction. Note that you can make a transfer of at least 0, 000055 BTC.
In order to get a bitcoin transfer to your account pay attention to the QR-code or a combination of letters and numbers below - this is your randomly generated bitcoin address which you need to provide to the sender. Transaction is being conducted within a few minutes and is subject to a fixed commission of 0.0006 BTC per transaction. After it is successfully completed, Gefarapay will automatically create a new bitcoin address which you can see in the list of all your addresses and use any of them at your discretion.