Can you buy Crypto on GLS Online Banking?
GLS Online Banking does not offer direct purchase of cryptocurrencies. However, customers with GLS Bank accounts can invest in cryptocurrencies by registering with a licensed broker regulated by the European Securities and Markets Authority (ESMA). These licensed brokers are authorized to facilitate the purchase of digital assets on behalf of investors using funds from their GLS Bank account.
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 Bybit. They are an exchange that offer fast bank transfers from GLS to buy, sell and trade the widest variety of crypto assets in Germany. You can get started in 4 simple steps:
- Create a free account on Bybit with your email address and create a password.
- Go to the 'Buy Crypto' tab, click 'One-Click Buy', and select 'EUR' as your currency.
- Select a deposit method to transfer Euros and the cryptocurrency you want to purchase.
- Enter the amount you want to purchase and tap the 'Buy' button.
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. GLS has been praised for its open-minded attitude towards cryptocurrencies. However, some have criticised 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.
In conclusion, GLS Bank does not offer direct cryptocurrency investing through its online banking platform. However, customers can transfer funds from their GLS Bank account to licensed crypto brokers, such as Bybit, to buy and sell digital assets. Bybit offers instant and cheap EUR transfers from GLS bank accounts and is a non-KYC exchange that provides proof-of-reserves to ensure customer deposits are fully backed
While GLS Bank has been praised for its open-minded attitude towards cryptocurrencies, it has not yet released a cryptocurrency-specific product or service. Nonetheless, the bank remains open to exploring new opportunities in the space.