Summary: SNS Bank allows its account holders to move money to registered cryptocurrency exchanges. Keep in mind that the bank doesn't offer direct trading services. Therefore, it's vital to choose an exchange regulated by De Nederlandsche Bank N.V. (DNB) to safeguard your assets and comply with Dutch financial laws.
After a comprehensive review of exchanges, we have determined that eToro is the most suitable platform for SNS Bank customers. eToro provides access to more than 3,000 financial assets, including cryptocurrencies, ETFs, and stocks. It facilitates immediate Euro deposits through a variety of payment options, such as SEPA, iDEAL, bank transfers, credit cards, and others.
- De Nederlandsche Bank N.V. (“DNB”) registered broker with over 30 million users.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Instant EUR deposits from SNS Bank through bank transfer, SEPA, iDEAL, and credit card.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can I Buy Bitcoin with SNS Bank?
Certainly, SNS Bank customers can purchase and trade a variety of cryptocurrencies, including Bitcoin by using licensed exchanges in the Netherlands. Choosing a trading platform that complies with the DNB's regulations is essential to securing your assets. Once your Euros have been transferred, swapping them for digital currencies like Solana and Chainlink becomes simple.
How to Buy Crypto with SNS Bank
SNS Bank customers can delve into cryptocurrency markets and trade digital assets such as Polygon through trusted exchanges that accept EUR transfers. We recommend eToro as the best option due to its compliance with the DNB and excellent range of financial instruments. The platform enables rapid deposits using several methods, such as bank and SEPA transfers, PayPal, iDEAL, and credit or debit cards.
Dutch investors can begin crypto trading by following these steps:
- Account Setup: Sign up on eToro and complete the identity verification process.
- Currency Selection: Navigate to the "Deposit Funds" area and select "EUR" as your preferred currency.
- Initiate Transfer: Select a payment method and begin the transfer of funds from your SNS Bank account.
- Transaction Completion: Use the search function to find the digital token you want to purchase and finalize your transaction.
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SNS Bank Cryptocurrency Policy
SNS Bank takes a progressive approach to innovation while strictly adhering to Dutch financial laws. In line with this, it maintains a positive view toward cryptocurrency. The bank’s users are permitted to invest in digital assets on platforms recognized by the De Nederlandsche Bank N.V. (DNB). We endorse eToro as a trusted exchange, approved by several European regulatory bodies, including the DNB. eToro's main office is located at 4 Profiti Ilia Street, Kanika Business Centre, 7th floor, Germasogeia, 4046, Limassol, Cyprus.
Digital Asset Investing Fees
Understanding the costs associated with trading digital currencies is key to maximizing your investment returns. Here's a brief rundown of typical charges on digital asset exchanges:
- Trading Fees: Services like eToro charge a small commission, roughly 1%, for buying or selling cryptocurrencies.
- Funding Charges: These fees depend on the chosen payment method. Deposits through iDEAL usually have lower fees than using credit and debit cards, which can surpass 2%.
- Withdrawal Fees: The charge for moving your assets varies by token. Platforms generally apply a standard fee of 0.0005 BTC for Bitcoin withdrawals.
For SNS Bank customers, eToro is an excellent choice, offering a wide range of digital currencies at attractive trading rates. Its DNB approval marks it as a safe option for Dutch investors.
What is SNS Bank?
SNS Bank, part of De Volksbank N.V., was established in 1817 with the founding of Nutsspaarbank, the first Dutch savings bank. It was created to promote individual financial planning and provide mortgages to those who couldn't otherwise afford homes. The bank has evolved through various mergers, symbolizing the cooperative spirit of its native country.
In 1997, SNS Bank became a subsidiary of SNS Reaal following its acquisition by the insurance company Reaal. The bank, along with its parent company, was later nationalized by the Dutch government in 2013 to prevent default. It is the fourth largest institution in the Netherlands by total assets and continues to serve its customers under multiple brand names.
Final Thoughts
In summary, SNS Bank offers a secure avenue for customers interested in the digital currency market. By enabling its clients to access regulated exchanges like eToro, the bank respects financial regulations in the Netherlands, ensuring the safety of investor assets. With eToro’s diverse offerings, competitive fees, various EUR deposit options, and additional features such as copy trading, it is a great fit for Dutch investors venturing into cryptocurrencies.
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.
