Buy Bitcoin in France

Bitcoin & Cryptocurrency Trading in France

A court case in 2020 laid the ground work for cryptocurrency to be treated as currency in France.(2)

While France is a very crypto positive environment, recent statements by Finance Minister Bruno Le Maire note a cautious pullback. Le Maire wants a review of the crypto tax rules, has stated concern about crypto mining energy consumption, and the potential of blockchain technology to usurp the role of France's fiat currency, the euro. However, Le Maire has also said, "We want France to be the European hub of the crypto asset ecosystem."(3)

Keep reading to learn more about Bitcoin in France and how you can get started in bitcoin.

Bitcoin was first created in 2008 and gained traction slowly for the first few years. Once it started getting big, people from all over the world were involved in the mining, exchanging, and purchasing of Bitcoins.

In 2019, the French government allowed Bitcoin to be accepted as a form of currency.

Thanks to the integration between Bitcoin software and point-of-sale software, it's now easy to pay for physical merchandise with cryptocurrency. Because of this, it's expected that Bitcoin will continue to gain popularity in France. Those who already have it will finally be able to use it and those who don't have any can look into getting some.

Where to Get Bitcoin in France

If you're interested in getting Bitcoins, let's look into a few of the ways you can do that in France.

One of the easiest ways to buy Bitcoin in France is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in France, allowing you to select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet).

Another way to buy Bitcoins in France is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

Exchange Hacks and Crypto Scams in France

Twenty-Five Percent of Financial Fraud Cases Involved Crypto

Marielle Cohen-Branche, of France's national financial markets authority (AMF), released a report for 2021 stating that 25% of suspected financial fraud cases reviewed by the organization involved crypto. This was a large increase over the 6% reported in 2020. The AMF warned French crypto investors that they should use registered providers or they may be left without protection from fraud.(4)

In order to avoid scams, individuals should always use reputable exchanges like those listed above for investing in bitcoin.

Kylian Mbappe Impersonation

In March of 2020, a cryptocurrency investing fund scam put out advertisements with French Soccer player Kylian Mbappe's image that attributed fabricated quotes from him endorsing the company.

More specifically, the quotes attributed to Mbappe claimed that the algorithms used to trade investor money were so good they could make you a millionaire in a couple of months and the big banks were scared of this company.

Of course, Mbappe never made any of these claims, and this company doesn't invest any of the money given to them by customers. Instead they are likely running a ponzi scheme.(5)