How do you buy bitcoin?

FAQ

• How do I buy bitcoin?

  With Lunar Block you’re ready to trade instantly. Download the Lunar app and sign up to Lunar Block in the app. You will need to take a test in connection to your signup, where we will, amongst others, ask you about the risks of cryptocurrencies. You can see the risks in the app before you take the test. When you’ve been approved, you can get started trading Bitcoin immediately.

• What does it cost to buy bitcoin at Lunar?

  We cooperate with three of the largest crypto exchanges, Coinbase, Kraken, and Bitstamp, so you’ll get the best rate for cryptocurrencies across the three exchanges.

  We have a set, low trading price on 2,5% of your purchase or sale if you’re a Standard user, 1,5% if you’re a Premium user, and if you have Lunar Pro, the price is just 1%. You’ll avoid the typical fees such as deposit fees to the account, withdrawal fees from the account, and safe-deposit charges.

• Do I need to know anything about bitcoin beforehand?

  You can easily trade crypto via Lunar Block, even if you’ve never tried it before. Our user-friendly platform is developed so everyone can get started quickly.

  There are no unintelligible buzzwords and in the app, you can get an overview of the different cryptocurrencies. In the app, we’re also informing you about the risks you need to be aware of. Before you sign up, you will need to take a test to make sure you understand the risks of trading crypto.

• What’s the difference between trading bitcoin via Lunar Block and other platforms?

  When you buy and sell cryptocurrency via Lunar Block, you won’t have to create a wallet to store your crypto and a key for your wallet. You only need to use the Lunar app and your NemID or MitID.

• What risks should I be aware of?

  ​​You must be aware that all trading with cryptocurrencies poses a large risk. The value of your cryptocurrency can both rise and fall, and you can risk losing the entire amount you purchased cryptocurrency with.

  We can provide factual information about the price developments on the different currencies, but previous price developments are not indicative of future developments.

  We don’t counsel about buying cryptocurrency and do not give recommendations on purchasing or selling. No information from Lunar must be considered as recommendations, and all decisions are up to you alone.

  Trading with cryptocurrency is done through Lunar Block. Lunar Block is not regulated by the Danish Financial Supervisory Authority, thus you won’t have the same protection as you would have when trading stocks or other regulated assets.

• Is it safe to trade bitcoin?

  There’s always uncertainty involved in crypto trading. The value of your cryptocurrency can both rise and fall, and you can risk losing the entirety of the amount you purchased with.

  Historically, crypto has had large fluctuations, which means it can rise a lot in value in a very short period, but it can fall just as quickly again.

• Do I get help reporting taxes?

  As a crypto owner, you must report any gain or loss to The Danish Tax Authority (Skat) annually, if you have made or lost money on your crypto purchase. For many, it can seem unmanageable to report, which is why we’re helping you.

  By the end of the year, you will receive an overview of your crypto purchases, and with that, you’re also receiving a guide on how to report to the tax authorities. With the guide, you can handle the tax reports in a matter of minutes.

  Read more about how bitcoin taxation works here.

• Is there a minimum amount I need to buy bitcoin with?

  The minimum amount is down to just 99 DKK, so you won’t need a lot of money to trade crypto via Lunar Block.