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Can you buy Crypto with Citadele?
Yes, it is possible to buy cryptocurrency with Citadele bank through a regulated cryptocurrency exchange in Latvia. Latvia has established regulations for cryptocurrency exchanges, which means that there are several exchanges that have been authorized to operate in the country, including Uphold. These exchanges allow users to buy and sell various cryptocurrencies, including Bitcoin, Ethereum, and more, using traditional banking methods such as credit cards or bank transfers. Therefore, if you have a Citadele bank account, you can use it to purchase cryptocurrency on a regulated exchange in Latvia.
How to Buy Bitcoin and Crypto with Citadele
As outlined above, if you want to buy cryptocurrencies like Bitcoin with Citadele, the best way is through Uphold. Citadele customers can deposit funds to Uphold via Bank Transfer, Credit/Debit Card, SEPA, Google Pay or Apple Pay instantly and with low fees to trade over 250 cryptocurrencies.
You can follow the below guide to buy Bitcoin with Citadele.
- Sign Up: Open a free account on Uphold and complete the verification process.
- Connect Account: Select 'Euros' as the currency you want deposit on Uphold.
- Deposit Euros: Connect your Citadele Bank account to quickly deposit your Euros.
- Buy Crypto: Find the cryptocurrency you want to buy and execute your trade.
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Are the fees high to invest in cryptocurrencies?
Typically, there are three transactions you will need to pay for when using a cryptocurrency exchange, to deposit funds to the platform, to withdraw funds from the platform and to execute a trade on the platform. However, Uphold doesn't charge any fees to deposit or withdraw from their platform.
The only fee you need to take into consideration on Uphold is their trading (buy/sell) fee which between 0.9% - 1.2% of your total transaction price. You will need to pay this any time you buy or sell a cryptocurrency. There are no additional hidden or accounting fees that are charged on Uphold, hence why it's one of the most popular platforms globally.
Is Citadele Crypto-Friendly?
Citadele does not currently allow for any type of cryptocurrency transactions or exchanges on its online platform. However, that may change in the future as the world continues to move towards digital currencies. Citadele has shown interest in blockchain technology and its potential uses in the financial industry.
What is Banka Citadele
Citadele is a leading bank in Latvia, offering a range of banking services to both personal and business clients. The bank was founded in 2010 as a result of the privatisation and restructuring of Parex Banka, one of the largest banks in the Baltics at the time.
The bank has expanded rapidly, with branches and subsidiaries now operating in multiple countries including Estonia, Lithuania, Austria, Czech Republic, and Russia. In 2018, Citadele was named the best retail bank in Latvia by international financial magazine Global Finance.
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Final Thoughts
In conclusion, if you're a Citadele bank customer looking to invest in cryptocurrency, you can do so through a regulated exchange in Latvia, such as Uphold. Uphold offers a variety of cryptocurrencies to trade and allows users to deposit funds using traditional banking methods. The fees on Uphold are also relatively low, making it a popular platform for buying and selling cryptocurrencies.
While Citadele bank does not currently allow for cryptocurrency transactions or exchanges on its online platform, it has shown interest in blockchain technology and its potential uses in the financial industry.
