Originally posted – August 28th 2014 – Read our updated review from May 2015 here.
So the other day I was looking to buy some bitcoins, and had a very difficult time trying to purchase a small amount of bitcoin with normal consumer payment methods.
So giving up on that, I had heard that the guys in GSM Solutions on Upper Abbey Street (between Jervis St and Four Courts Luas stops) sold Bitcoin. They have a Bitcoin ATM there, but for speed (and because I have a PC wallet and didn’t want to have to install a mobile wallet) I opted to go for generate bitcoins from their till, just like phone credit.
I asked if there was a minimum, and they responded that any amount over €5 was grand. So I decided how much I wanted to buy, and had €30 on me so got that. In about a half a minute, they had printed off my bitcoins voucher. When I got home, I just had to visit the URL on the reciept and enter in my code and where I wanted the bitcoins sent. Immediately, my Bitcoin Armory wallet flashed up that a payment for the amount was received, and began confirming it.
Looking at the value I got, the amount I paid was €30 which included 13.5% VAT. For this I received 0.07712 btc, which means that inclusive of VAT, the rate I got was €389/bitcoin, and exclusive of VAT the mount I bought was €26.43, giving a rate of €342.71/bitcoin, which was pretty bang on the days normal euro rate over on btc-e.com .
So in review I found the process of buying bitcoins with cash very straightforward, much quicker, and less hassle than I expected. I’ll go back soon to try buying bitcoin using their ATM option
You can read all our articles about Irish Bitcoin ATMs to find one near you that's available to use. You can receive a 20% transaction fee discount on your first purchase of €100 or more using promo code BITIRL on any Bitcove ATM.
If you are looking to buy cryptocurrency with cash, you can read our articles on Irish Bitcoin & Crypto ATMs. If you're looking for a solid EU-based exchange, we recommend CoinMate which we have used for years and have low fees and support for euro. Alternatively we recommend which are a little tricker to use, but have a much wider range of pairs. If you want to use your credit/debit card to buy crypto, we recommend UK based CEX. If you'd like to use a mobile app to buy your crypto, we recommend Coinbase who offer $10 free bitcoin on your first purchase of $100 or more. If you'd like to trade peer-to-peer we recommend LocalCoinSwap or if you'd like to swap one crypto for another, we recommend Changelly.