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How to Buy Crypto with SNS Bank

How to Buy Crypto with SNS Bank

Dylan Matthews
Fact Checked
Sep 23, 2022

Summary: SNS Bank does not directly offer any methods for customers in the Netherlands to buy and sell cryptocurrencies. The only method available for SNS Bank account holders to invest in digital assets is by signing up to an ESMA-licensed exchange in Europe.

If you are looking to get started quickly, we recommend eToro because they offer fast Euro (EUR) deposits from SNS to buy, sell and trade 70+ cryptos and thousands of other assets.

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.

How to buy Bitcoin with SNS Bank

If you are looking to invest in Bitcoin and other cryptocurrencies like Ethereum and Solana on the SNS online banking platform, you are unfortunately out of luck. Most major European banks do not offer cryptocurrency-investing services on their platforms. 

That said, there are many regulated alternative that allow investors to buy Crypto with an account funded from their SNS Bank account. If you are looking to get started quickly, we have outlined a simple 4-step process to get started with eToro below:

  • Step 1: Sign up to eToro, verify your identity and complete the quiz
  • Step 2: Select ‘Deposit Funds’ then choose ‘Bank Transfer’ as method and enter the amount of EUR you want to deposit
Fund Your Account - eToro
  • Step 3: You will be redirected to this page, copy their details into your SNS banking app and transfer the funds. Bank transfers can take approximately 4-7 business days to be processed from the time of transfer.
Bank to Bank Wire Transfer
  • Step 4: Once your funds have arrived into your eToro account, visit the home page and search for the cryptocurrency you wish to purchase and select ‘Trade’.
eToro buy BTC

If 4-7 business days is too long to wait for your bank deposit to be processed, you can instantly deposit via debit and credit card. To deposit via card, simply select ‘Credit/Debit Card’ under ‘Deposit Funds’

Buying Bitcoin Fees for SNS Bank

It’s important to consider the fees involved with buying cryptocurrencies on an exchange. There are typically two fees when investing in cryptocurrencies, it is the deposit and trading fee. Some cryptocurrency exchanges charge more than two depending on their policies.

  • Deposit Fee - You’ll be charged this fee when you deposit EUR on the platform, however eToro offers free EUR bank and credit/debit card deposits. 
  • Trading Fee - You’ll be charged this fee to execute a trade, eToro charges a flat 1% fee on trades. The fee gets lower the more you trade, outlined in their fees schedule.

In total you will pay 1% of your investment in trading fees to use the eToro platform. 

About SNS Bank

SNS Bank is a Dutch bank that offers a wide range of banking products and services to both retail and corporate customers. The bank has a strong focus on online and mobile banking, and offers a wide range of digital banking services.

SNS Bank

In addition to traditional banking products and services, SNS Bank also offers a number of innovative financial products and services. These include a mobile payment app, a peer-to-peer lending platform, and a range of investment products. SNS Bank is part of the SNS Group, which also includes the Dutch insurance company ASR Nederland and the Dutch pension fund APG.

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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