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How to Buy Bitcoin with Erste Bank

How to Buy Bitcoin with Erste Bank

Dylan Matthews
Dylan Matthews
Fact Checked
Jan 12, 2023

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 (EUR) from your Erste bank account into a safe cryptocurrency exchange like Uphold to buy Bitcoin and other cryptocurrencies. We recommend their platform because they are licensed, regulated and have audited proof-of-reserves.

Table of Contents

Best Crypto Exchange for Erste Bank

Platform Highlights

  • Trade over 220 Crypto Assets with fast and cheap Euro (EUR) and other currency deposits.
  • Regulated and Licensed by the Financial Conduct Authority (FCA), FinCEN and has audited Proof-of-Reserves for customer funds.
  • Offers multiple asset classes including Crypto, Stocks, ETFs, Metals and more.
Uphold - Erste Bank
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Audited Proof of Reserves
Audited Proof of Reserves

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.

Erste Bank Online
Erste Bank Online.

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: Create a free account on Uphold with your email address and complete the verification process.
  2. Connect Account: Connect your Erste Bank account or card to Uphold by selecting the fiat currency you want to transfer on your dashboard.
  3. Deposit Funds: You can then select the 'connect bank' button to link any Austrian or European Bank account to Uphold.
  4. Buy Cryptocurrency: Find the cryptocurrency you want to buy and execute your trade.
Deposit Funds with Erste Bank.
Deposit Funds with Erste Bank.

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.

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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.

Post Tags

Centralized Exchanges
Digital Assets
Bitcoin
Ethereum
Markets
Finance
EU Banks

Dylan Matthews

Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.

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