Summary: Banco Itau does not directly offer cryptocurrency investing products and services through its online banking platform. The only way Itau Bank customers can buy crypto is by transferring fiat from their account to a licensed digital-asset exchange.

We recommend a platform like Bybit for investors in Brazil and South America because they are safe and offer fast fiat deposits from Banco Itau. Bybit offers trading on over 400 cryptocurrencies and allows crypto staking on over 200 tokens. It is a feature-rich exchange that doesn't require KYC (identity verification) to buy, sell or stake digital assets.

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Table of Contents

Can I Buy Crypto with Itau Unibanco?

Itau Unibanco does not provide direct cryptocurrency trading or storage solutions for clients in Brazil or elsewhere. This means you cannot purchase digital currencies such as Bitcoin or Ethereum through your Itau online banking portal. However, customers can link their Itau accounts to Brazil's Comissão de Valores Mobiliários (CVM) regulated trading platforms. By doing so, they can securely and legitimately deposit BRL for trading various cryptocurrencies within Brazil's legal framework.

How to Buy Bitcoin and Crypto with Banco Itau

As outlined above, the safest and easiest way to buy Bitcoin, Ethereum and other cryptocurrencies is through a trusted exchange that accepts BRL deposits from Itau. Based on our analysis, we found that Bybit was the best exchange for Itau Bank account holders because they offer instant and free BRL deposits via bank transfer, PIX, Mercadopago, PicPay, Google Pay, debit card, credit card and other methods.

You can get started in 4 simple steps from your Banco Itau account in Brazil or South America.

  1. Sign up to Bybit and with your email address and create a password.
  2. Tap 'Buy Crypto', then 'One-Click Buy' and select 'BRL' as your currency.
  3. Select a deposit method and the cryptocurrency you want to buy.
  4. Input the amount you want to purchase and click 'Buy'.
How to buy Crypto with Banco Itau Online.
How to buy Crypto with Banco Itau Online.

Itau Banco Cryptocurrency Policy

Itau Banco does not have an official digital asset trading policy. However, the Brazilian Central Bank (BCB) has released several warnings about the risks associated with investing in cryptocurrencies. The BCB says that virtual currencies are not legal tender in Brazil and are not subject to regulation or supervision by any government entity in the country.

The BCB also warns that crypto assets are prone to high volatility and could be used for illicit activities. Investors should do their own research before investing in digital currencies and only use platforms that are licensed by the CVM.

About Bank Itau

Itaú Bank, or Itaú Unibanco Holding S.A., is the largest private bank in Brazil and a leading financial institution in Latin America. Formed from the 2008 merger of Banco Itaú and Unibanco, it offers services like retail, corporate, and investment banking, as well as asset management and insurance. Based in São Paulo, the bank operates in several Latin American countries and has a presence in global financial centers. It is committed to social and environmental sustainability.

Final Thoughts

In conclusion, while Banco Itau does not offer direct cryptocurrency investment services, customers can securely purchase digital assets through a licensed exchange like Bybit. Bybit's user-friendly platform supports a wide range of cryptocurrencies and allows for fast, free BRL deposits from Itau accounts. However, investors should remain cautious and conduct thorough research before engaging in crypto trading, as cryptocurrencies are not subject to regulation in Brazil and can be volatile.