Crypto Banks
How to Buy Bitcoin with Erste Bank

How to Buy Bitcoin with Erste Bank

Dylan Matthews
Fact Checked
Oct 20, 2022

Summary: Erste bank unfortunately does not allow the buying or selling of cryptocurrencies on its platform. This is because it has not acquired the appropriate licensing to operate a cryptocurrency exchange in Austria.

Although you cant buy crypto on Erste Bank, you can deposit euros from your Erste bank account into a safe cryptocurrency exchange like eToro to buy Bitcoin and other cryptocurrencies.

Table of Contents

Best Crypto Exchange from Erste Bank

Platform Highlights

  • Fast and cheap Euro (EUR) bank transfers and debit card or credit card deposits from Erste Bank.
  • Trade 80+ Cryptos and over 8,000 Stocks, ETFs & Commodities.
  • Licensed and regulated by the Financial Conduct Authority (FCA) and ESMA in Europe.

Can I buy Crypto with Erste Bank?

Erste Group and Erste Bank do not offer cryptocurrency trading or custodial services for customers in Austria or throughout Europe. This means that you cannot invest in coins like Bitcoin or Ethereum directly through your Erste Bank online banking platform.

That said, customers can connect their Erste Bank account to licensed and regulated trading platforms in Europe. This will enable them to deposit EUR to safely and legally trade cryptocurrencies throughout Europe.

How to Buy Bitcoin & Crypto with Erste Bank

If you're looking to buy cryptocurrencies with an Erste bank account, you have come to the right place. In the below example, we show you how to buy Bitcoin with the Bank Transfer method but you can also choose to deposit via credit/debit card, Skrill and more. Follow the steps to get started.

  1. Sign up to eToro Europe and verify your identity
  2. Click ‘Deposit Funds’ and choose ‘Bank Transfer’ as the payment method, then enter the amount of EUR you wish to deposit
Fund your account on eToro with Erste Bank
  1. Copy the eToro details into your Erste banking app and send the euros you want to invest. Bank transfers may take approximately 4-7 working days to be processed from the time of transfer. Credit/Debit card deposits are instantly credited to your account. You can choose Credit/Debit card as the method if you want your funds immediately.
eToro Bank-to-Bank Wire Transfer - Erste Bank
  1. 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’
Buy Bitcoin on eToro with Erste Bank
Buy Bitcoin (BTC) with Erste Bank via eToro.

Erste Bank Cryptocurrency policy

Erste Bank's cryptocurrency policy is designed to protect customers and ensure compliance with Austrian law. It does not allow customers to buy or sell cryptocurrencies on its platform but does not prohibits its users from sending funds to a cryptocurrency exchange. Erste Bank's stance on cryptocurrencies is in line with the position of other major Austrian banks.

Most European banks are considered 'crypto-friendly' and have nothing stated in their policies about users not being able to invest in digital assets such as cryptocurrencies.

About Erste Bank

Erste Bank in Austria is a leading financial institution that offers a variety of banking and financial services including savings accounts, loans, credit cards, investments, and insurance. Today it is one of the largest banks in Austria and Eastern/Central Europe with over 16 million customers. Erste Bank is also active in the Austrian stock market and is a member of the Austrian Stock Exchange.

Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

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