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 Uphold. Their platform offers fast and cheap Swedish Krona (SEK) deposits via Bank Transfer, Debit Card or Credit Card to trade & stake over 200 crypto assets. The Uphold exchange is also licensed & regulated throughout Europe with over 10 million users.
- Fast and cheap Swedish Krona (SEK) and Euro (EUR) deposits with ICA Banken to Trade & Stake 200+ Cryptocurrencies.
- Regulated by the FCA in Sweden & Europe with audited Proof-of-Reserves.
- Feature-rich platform with Crypto Staking and hundreds of Stocks, ETFs & Metals to trade.
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.
- Sign Up: Create an account on Uphold and complete your verification (personal or company).
- Connect Account: Select the currency you want deposit on Uphold (SEK, EUR + 30 more).
- Deposit Funds: Connect your ICA Banken account or Debit/Credit Card to deposit Euros.
- Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
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 Uphold, 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).
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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.
Final Thoughts
In summary, while ICA Banken does not provide direct cryptocurrency investment services, it supports its customers in Sweden by allowing them to transfer funds to regulated exchanges like Uphold. With a straightforward process and competitive fees, ICA Banken account holders can easily access the growing world of digital assets. Uphold's platform, boasting a diverse selection of over 200 cryptocurrencies and a strong regulatory compliance, is an ideal choice for ICA Banken customers looking to invest in cryptocurrencies securely and efficiently.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
