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Buying Bitcoin in Sweden: Safello

Dec 10, 2019 | Cognition, Exchanges

When looking for platforms to buy Bitcoin, it is often best to start in one’s own country. Domestic services are often far quicker to deal with, both in terms of verification and payment support. For Swedish Bitcoin enthusiasts, Safello is a platform that provides some interesting features.

The Safello Vision

Making Bitcoin more accessible to everyday consumers is one of the company’s primary points of focus. As more people get acquainted with cryptocurrency, they should automatically begin spending it like a traditional currency. Sustaining growth in this industry is a responsibility shared by everyone, including trading platforms and brokers. 

Safello also builds bridges between cryptocurrency and traditional finance to offer an inclusive financial ecosystem. Their vision for buying and selling Bitcoin requires transparency regarding fees. Additionally, the team puts customer account security above everything else. It is a platform designed for both novice and veteran enthusiasts alike. 

Safello was founded in 2013 by Joakim Johansson and Frank Schuil. Some of its investors include Techstars, Erik Vorhees, Digital Currency Group, and Nicolas Cary. Interested parties can also visit their physical office in Stockholm during the office hours.

Supported Currencies

Through the Safello platform, customers can purchase a variety of cryptocurrencies. The company initially supported Bitcoin. Over the years, they also enabled support for Bitcoin Cash, Ripple’s XRP, and Ethereum. All of these currencies can be acquired once a user has verified their identity.

Payment Methods and Covered Regions

Despite being a Swedish exchange, Safello welcomes customers from other regions as well. At this time, the company has dedicated payment methods for Denmark, Finland, Norway, the UK, and the European Economic Area. Depending on one’s region, the supported payment methods will differ a bit.

Swedes can purchase Bitcoin through Swish – for mobile payments – as well as Handelsbanken Direct and Bankgirot. International clients can opt to use their Visa or Mastercard – credit cards only – or use a traditional SEPA transfer. International bank transfers are supported for clients across the United Kingdom.

Platform Fees

Some platforms handle the fees associated with buying Bitcoin differently from others. For Safello, all of the fees associated with the process are included in the current Bitcoin price users will see on the website. There will be no other fees or surcharges when purchasing cryptocurrency. The displayed price includes all charges for banking, forex, and operating fees already. The standard fee rate is 5% of the total order amount.

The Quickbuy Option

Most companies where buying Bitcoin is an option will force users to register an account before they can do anything. Although that is a big part of Safello’s core business model a swell, the company provides an alternative solution. Known as Quickbuy, it allows users to buy and sell Bitcoin without having to register an account.

When going through this process, users need to confirm hey are not not a politically exposed person. There is still a verification process in place that can be completed through the Yoti mobile applications. Paying for one’s purchase can be completed with either a Visa or Mastercard credit card. 

Users need to keep in mind there is a 7% charge on using this option. Dealing with credit card payments is both risky and costly for any service provider. As cryptocurrencies are not refundable or can’t be charged back, extra security measures and insurance fees apply for exchanges and brokers. 

Images courtesy of their respective sources.

Fintoism is not providing financial or investment advice. All content published on this platform is for entertainment and educational purposes only.

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<a href="https://fintoism.com/author/oglock/" target="_self">JP Buntinx</a>

JP Buntinx

JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.

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