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Buy Bitcoin or Crypto with Bawag Bank

Buy Bitcoin or Crypto with Bawag Bank

Andrew Chen
Fact Checked
Sep 30, 2022

Summary: The Bawag eBanking platform does not offer any products or services for customers to buy and sell cryptocurrencies with their bank account. Austrian investors will need to sign up to a ESMA-licensed exchange to deposit Euros (EUR) from their Bawag account into a regulated crypto broker.

If you are looking to get started quickly, we recommend the eToro platform. They are Europe's most popular multi-asset broker with over 18 million users that accepts fast and cheap deposits from Bawag eBanking transfers.

Table of Contents

eToro Platform Highlights

Platform Highlights

  • Fast and cheap Euro (EUR) deposits from all European Banks.
  • Licensed by the Financial Conduct Authority (FCA) and ESMA.
  • 80+ Cryptos and over 7,000 Stocks, ETFs & Commodities with low fees.
78% of retail CFD accounts lose money.

Can I buy Cryptocurrencies with Bawag PSK?

The short answer is yes. Bawag Bank customers can transfer Euros (EUR) or other fiat currency from their account to a European Securities and Markets Authority (ESMA) licensed cryptocurrency exchange to buy and sell digital assets. This is the only available method because Bawag does not have in-built crypto features and wallets.

How to buy Crypto with Bawag

The easiest way to invest in Bitcoin, Ethereum, Solana and other cryptocurrencies with Bawag Bank in Austria is with the eToro platform. They offer instant and cheap deposits from Bawag via bank transfer (SEPA), debit card, credit card and even alternative methods like PayPal. Their exchange offers over 80 cryptocurrencies and 8,000 stocks, ETFs, currencies and other assets.

You can get started in 4 simple steps:

  • Step 1: Sign up to the eToro platform and verify your identity.
  • Step 2: Select the 'Deposit Funds' button and 'Bank Transfer' as your payment method.
  • Step 3: Login to your Bawag eBanking account and transfer funds to the unique deposit details provided to you by eToro.
  • Step 4: Find the Crypto you want to buy on the platform and execute your trade.
Deposit Euros (EUR) from Bawag Bank to trade Crypto.

Is Bawag Bank Crypto Friendly?

There is no clear answer as to whether or not Bawag Bank is crypto-friendly. However, some users have reported that the bank has been receptive to working with them on crypto-related projects. Others have said that the bank has been uncooperative and even hostile towards crypto. Overall, it seems that Bawag Bank's stance on crypto is mixed.

That said, they do allow customers to deposit Euros (EUR) and withdraw from licensed cryptocurrency platforms in Europe. This is why we recommend exchanges with clear regulatory status in the EU and United Kingdom.

About Bawag Bank

Bawag Bank is one of the leading financial institutions in Austria. The bank offers a wide range of banking products and services for both individuals and businesses. The bank has a strong focus on providing excellent customer service, and its online and mobile banking platforms are among the most user-friendly in the country. In addition, Bawag Bank is a member of the Austrian Deposit Protection Fund, which protects deposits up to €100,000.

Bawag eBanking App

Whether you are looking for a checking account, savings account, loan, or investment product, Bawag Bank is sure to have something that meets your needs. The bank’s website is available in German and English, and customer service is available in both languages as well.

If you are looking for a bank that offers high-quality products and services, excellent customer service, and competitive rates, Bawag Bank is a great option.

Andrew Chen

Former Bitcoin Maximalist turned multi-chain enjoyer. I hunt down the best yields across AVAX, Solana, Fantom and other networks.

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