How to Buy Bitcoin in Iceland

A Step-by-Step-Guide on how to buy Bitcoin in Iceland

Step 1

Make a Coinmama account

Use the following button for signing up at Coinmama.

Provide an email address, pick out a username, and pick a strong, secure password.

The infrastructure and website of Coinmama is fast and secure, so you're personal data is kept safe.

Step 2

Verification of your account


In order to buy Bitcoin (BTC) with fiat currencies, like EUR or USD, you have to provide your phone number, name, country and date of birth alongside with additional support documents which verify your personal identity.

The supporting documents are a valid photo ID, like National identity card (front + back), Passport or Drivers license and sometimes also Proof of Residence Document like Credit card statement, Tax document or Residence certificate.


Such an verfication of identity is there to avert identity theft or fraud.

Step 3

Begin buying Bitcoin by depositing USD or EUR


Backing your account with EUR or USD for swaping can be done in a number of ways, including domestic wire transfers, SWIFT and SEPA and debitcard.

The option you select will be based on your location and preference.

When your fiat currency arrives in your account, that amount will be converted to Bitcoin.

Alongside your account you’ll also have access to support, charting tools and leveraged trading.

For buying Bitcoin you will also need to have a wallet.

Congratulations! You have successfully bought and stored Bitcoin in Iceland.

That's it!

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