Summary: Banco Estado doesn't offer a direct route for cryptocurrency investments through its online banking services. However, it does enable its clients to transfer Chilean Pesos (CLP) to digital asset exchanges that are overseen by monetary authorities in Chile. We suggest using a regulated platform to ensure adherence to local financial laws and platform security.
Upon doing an extensive analysis, we recommend Bybit as it offers Banco Estado customers free CLP deposits. The exchange provides an extensive range of over 1000 cryptocurrencies, which can be traded on several markets, including spot, derivatives, and options. Aside from trading, it also provides multiple staking options, a lending and borrowing service, a crypto card, copy trading services, a demo account, and more.
- Free and fast Chilean Pesos (CLP) deposits from Banco Estado via bank transfers and credit cards.
- Buy, sell and trade over 1000 cryptocurrencies with low fees from 0.1% for spot trading.
- Regularly updated proof-of-reserves, which shows all assets are backed on a 1:1 basis.
Can I Buy Bitcoin with Banco Estado?
Absolutely, Banco Estado customers can purchase and sell Bitcoin on approved digital asset investing platforms in Latin America. To ensure legal compliance and the secure storage of your tokens, it is crucial to choose an exchange operating under the supervision of the country's regulatory bodies. After your deposit has been transferred to the platform, you can quickly start trading various digital currencies, including Mantle, Ondo, and more.
How to Buy Crypto with Banco Estado
Clients can acquire Cardano, Solana, and other coins through Banco Estado by utilizing a global exchange like Bybit. The platform doesn't charge any fees for CLP deposits, which can be made through bank transfers, credit and debit cards, and other locally accepted payment methods. After your deposit has been cleared, you will have access to thousands of cryptocurrencies, which can be traded and staked.
Follow this simple guide to purchase crypto with Banco Estado:
- Registration: Sign up on Bybit and complete the necessary verification.
- Account Funding: Go to 'Buy Crypto,' choose 'Fiat Deposit,' and select CLP as your currency.
- Choosing Deposit Option: Pick your preferred deposit method for Bradesco Banco.
- Finalizing Purchase: Choose your desired token, enter the amount you wish to spend, and click 'Buy' to complete the process.
Banco Estado Cryptocurrency Policy
Banco Estado adopts an open approach to cryptocurrency transactions, allowing customers in Chile to comfortably engage in digital asset trading through reputable exchanges such as Bybit. Account holders are urged to exercise caution when transferring CLP to international crypto asset companies. To ensure a secure investing experience, clients are advised to use platforms in compliance with the Financial Market Commission guidelines.
Digital Asset Investing Fees
Investors need to be mindful of various charges associated with digital asset investments. Knowing the fee structure of a specific platform is vital for an efficient trading strategy. Here’s an overview of typical expenses imposed by exchanges:
- Transaction Fees: You can expect to pay a fee when you purchase or sell a digital currency. For instance, Bybit applies a 0.1% charge on the total transaction amount.
- Deposit Costs: The fee for adding funds to your account varies based on your chosen payment method. Credit or debit cards often come with fees exceeding 2%, while bank transfers are generally free.
- Withdrawal Expenses: The fee for taking out your crypto assets depends on the specific token. Most platforms charge 0.0005 BTC for Bitcoin withdrawals.
Bybit is recommended for Banco Estado clients due to its competitive investment charges and complimentary Chilean Peso (CLP) deposits.
What is Banco Estado?
Banco Estado, a state-owned commercial bank in Chile, offers a comprehensive range of financial solutions, including personal and corporate banking, treasury services, insurance, and wealth management. Created by government decree in 1953, it is the country’s biggest mortgage lender and largest issuer of debit cards.
As one of Chile's top banks and the sole public banking institution in the country, it aims to foster financial inclusivity for all societal segments, covering both urban and rural communities. In the past, it has been ranked as the safest bank in Latin America by the Global Finance magazine. It maintains a presence in all Chilean communes, even in the Antarctic regions.
Final Thoughts
To sum up, Banco Estado does allow its clients to invest in digital currencies like Polygon, Dogecoin, and other tokens despite not providing an in-built investment feature on its website or mobile app. For the bank's clients, a secure investment path is available through authorized exchanges such as Bybit. With low fees, Spanish-language support, a wide range of assets and exceptional functionality, it's one of the most popular platforms on the market.
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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