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How to Buy Bitcoin and Crypto with ICA Banken

How to Buy Bitcoin and Crypto with ICA Banken

Adrian Graham
Fact Checked
Oct 31, 2022

Summary: ICA Banken does not offer Bitcoin or cryptocurrency investing services for customers through its online banking platform. However, investors in Sweden can transfer funds from their accounts to a regulated crypto exchange in the country to buy and sell digital assets.

Our top pick for ICA Banken account holders in Sweden is eToro because they offer fast and free Swedish Krona deposits via bank transfer, debit card and credit card to trade the widest variety of assets.

Table of Contents

Best Crypto Exchange for ICA Banken

Platform Highlights

  • Fast and cheap Swedish Krona (SEK) deposits from ICA Banken accounts.
  • Licensed by the Financial Conduct Authority (FCA) and ESMA.
  • 80+ Cryptos and over 7,000 Stocks, ETFs & Commodities with low fees.

How to Buy Bitcoin and Crypto with ICA Banken

As outlined earlier, although ICA Banken does not offer direct crypto investing services, they do allow customers to link their accounts to a regulated crypto exchange and buy digital assets. The available methods to transfer funds include bank transfer (SEPA), debit cards, credit cards and even online alternatives like PayPal.

  1. Create an account: Sign up to eToro and verify your identity.
  2. Fund your account: Select the 'Deposit Funds' button to deposit Swedish Krona (SEK) from ICA Banken or an alternative method.
  3. Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
  4. Execute your trade: Input the fiat amount you want to buy and execute your trade.
Deposit Funds
Deposit Funds with ICA Banken and buy Crypto.

What are the Fees to Invest in Crypto?

The fees to invest in digital assets with ICA Banken will differ based on the platform that is chosen. When using eToro, there is a 0.5% spread fee when entering and exiting trades. This is significantly cheaper than popular alternatives in Sweden like Coinbase or Kraken which charge up to 1.99% per trade and then another 1% to deposit funds onto the platform.

Is ICA Banken Crypto Friendly?

ICA Banken is a crypto-friendly bank that permits its account holders to make SEPA and SWIFT transfers to exchanges in Sweden that offer digital asset trading. The only relevant policy is that customers must use platforms that are licensed and regulated by the European Securities and Markets Authority (ESMA).

ICA Banken
ICA Banken

Can I buy Crypto at an ICA Norge?

No, ICA Norge does not offer any over-the-counter investment services for traditional assets or crypto assets like Bitcoin and Ethereum. Investors will need to use a licensed broker to buy and sell digital assets in Sweden, Norway and other countries.

About ICA Banken

ICA Banken is a Swedish bank that offers a range of financial products and services to its customers. The bank has a wide network of branches and ATMs across the country, and also offers online and mobile banking services. ICA Banken provides personal and business banking services, as well as mortgage and loan products.

ICA Banken has a long history in Sweden, dating back to 1884 when it was founded as a cooperative bank. The bank is owned by the ICA Group, one of the largest retail chains in Sweden. ICA Banken is headquartered in Stockholm and has around 1,600 employees.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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