Can I Buy Cryptocurrencies with CSOB Bank?
No, the CSOB banking platform does not offer any products or services that support cryptocurrency trading, or cryptocurrency custody for its clients. This means you cant buy assets directly through your online banking account, or custody your cryptos with the bank for secure storage.
However, you can link your CSOB Bank account to a European Securities and Markets Authority (ESMA) licensed cryptocurrency exchange and deposit koruna or Euros to buy cryptos. With this method, you can transfer money via bank transfer, debit card or credit card.
How to Buy Crypto or Bitcoin with CSOB
As outlined above, the best way to buy digital assets like Bitcoin and Ethereum with a CSOB account in the Czech Republic is through a regulated platform like Uphold. They offer fast and cheap deposits from CSOB Bank to trade over 250 on their exchange that is trusted by over 10 million users in the region.
You can get started trading from your CSOB account in 4 simple steps:
- Sign Up: Create an account on Uphold and complete your verification.
- Connect Account: Connect any CSOB Bank account to Uphold to deposit Euros (EUR).
- Deposit Funds: After selecting "My banks" you can select the amount of EUR to deposit and complete the transfer.
- Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
CSOB Bank Cryptocurrency Policy
CSOB Bank, one of the largest banks in the Czech Republic, has released its official policy on cryptocurrencies. The bank stated that it will not provide any services related to cryptocurrencies, such as buying, selling, or holding them. This is in line with the position of other major banks in the country, such as Česká spořitelna and Komerční banka.
However, CSOB Bank clarified that it does not prohibit its clients from buying or selling cryptocurrencies. It also said that clients will not be subject to any penalties for doing so. This policy is likely to impact the cryptocurrency industry in the Czech Republic, as CSOB Bank is one of the largest banks in the country. It remains to be seen how other banks will respond to this development.
About CSOB Bank
CSOB, or Ceskoslovenska Obchodni Banka, is one of the oldest banks in Central and Eastern Europe. It was founded in 1919 in Prague and currently has over 3,000 employees. The bank offers a full range of banking services to both retail and corporate clients. These include loans, mortgages, savings accounts, credit cards, and investment products. CSOB is also active in the Czech Republic's capital market. The bank is majority-owned by the Belgian financial group KBC.