Buying Bitcoin and Crypto with Danske Bank
To buy bitcoin with your Danske bank account you will need to link it to a centralised cryptocurrency exchange like eToro. This is because traditional banks cannot sell cryptocurrencies on their platforms without acquiring the required licensing. Most major banks in Denmark are yet to implement a crypto investing feature on their platform.
We recommend using eToro for trading cryptocurrencies as they offer the lowest trading fees and free, instant EUR deposit methods. In addition to buying Bitcoin and other cryptocurrencies on eToro you can invest in Danske Bank stocks directly on their platform.
Not only can you buy Danske bank stocks on eToro, they have over 1000 other digital assets available. To learn more about eToro and its many features, you can visit the eToro review.
How to buy Bitcoin and Crypto with Danske Bank
Follow the below steps to begin trading and staking cryptocurrencies on eToro.
Step One: Sign up to eToro, verify your identity and complete the questionnaire
Step Two: Select ‘Deposit Funds’ then choose ‘Bank Transfer’ as payment method and enter the amount of EUR you want to deposit
Step Three: Shortly you will be redirected to this banking page, simply copy their details into your Danske banking app and transfer the funds. Bank transfers may take approximately 4-7 business days to be processed from the time of transfer.
Step Four: Once your funds have arrived into your eToro account, visit the home page and search for the cryptocurrency you wish to purchase and select ‘Trade’
Buy Danske Bank Stock on eToro
As mentioned earlier, you can buy Danske Bank stocks directly on the eToro platform. Once you have deposited EUR onto the exchange, simply search for ‘Danske’ in the search bar on the home page. Fill out the amount you want to spend and press ‘Open Trade’.
Buying Bitcoin & Crypto Fees: Danske Bank
When investing in Bitcoin and cryptocurrency in general, you need to consider the fees that are involved. Anytime you use a cryptocurrency investing platform there will typically be two fees, the deposit and trading fee. Some exchanges may charge more than two depending on their policies.
- Deposit Fee - This is the fee you will be charged when you deposit fiat currencies onto the platform (crypto deposits are free), however eToro offers free EUR bank and credit/debit card deposits. Most exchanges charge between 1 - 5%.
- Trading Fee - This is the fee charged to execute a trade, eToro charges a flat 1% fee on trades. The fee gets lower the more you trade, outlined in their fees schedule.
Overall, on eToro you will pay 1% of your investment in fees to use their platform. This is relatively cheap compared to Coinbase who charge 4.5%.