Can you buy Crypto on GLS Online Banking?
No, you cannot buy cryptocurrencies directly on the GLS online banking platform. You can however invest in crypto with the funds in your GLS Bank account. All investors need to do is sign up with a European Securities and Markets Authority (ESMA) licensed broker to start investing in digital assets.
How to Buy Crypto with GLS Bank
As mentioned above, the best way to start buying Bitcoin and cryptocurrencies with a GLS account is with eToro. They are an ESMA-licensed broker that offer fast bank transfers from GLS to buy, sell and trade the widest variety of crypto assets in Europe. eToro is one of the largest exchanges in Europe, boasting over 20 million users across the continent.
You can get started in 4 simple steps:
- Sign up to eToro and verify your identity
- Click ‘Deposit Funds’ and choose ‘Bank Transfer’ as the payment method, then enter the amount of EUR you wish to deposit
- You will be redirected to this banking details page, copy the details into your GLS banking app and send funds
- Once the funds have arrived in your eToro account, search for Bitcoin or whatever token you want to buy, enter the amount you want to invest and select ‘Open Trade’
Is GLS Bank Crypto Friendly?
In recent years, GLS Bank has become known for its friendly attitude towards cryptocurrencies. The bank was one of the first to allow its customers to open accounts with large and regulated cryptocurrency exchanges in Europe, and it has also been supportive of other digital currencies.
At the moment, GLS Bank does not offer any specific cryptocurrency-related products or services. However, the bank has said that it is open to exploring new opportunities in the space.
GLS Bank has been praised for its open-minded attitude towards cryptocurrencies. However, some have criticized the bank for not doing more to support the industry. For example, GLS Bank has not yet released a cryptocurrency-specific product or service.
About GLS Bank
GLS Bank is a German “ethical bank” founded in 1974 as an anthroposophical initiative. The acronym ‘GLS’ stands for "Gemeinschaftsbank für Leihen und Schenken" which directly translates to English as Community bank for loaning and giving. An “ethical bank” is a bank that’s concerned with the social and environmental impacts of its investments and loans.
The focus of the bank's business activities is on sustainable banking that contributes to the social and ecological development of society. To this end, the Bank finances projects in the areas of energy and climate protection, environmental protection, social housing and education. The Bank is a member of the German Savings Banks Association and the Association of German Banks.