Summary: Luminor Bank does not directly offer cryptocurrency trading as part of its banking services. Customers interested in delving into the world of digital currencies need to utilize certified trading platforms. The bank supports the transfer of funds to platforms that operate under strict regulatory oversight, preferably by an EU financial authority.

For Luminor Bank's clients looking to explore cryptocurrency investment, eToro emerges as the best choice. eToro facilitates smooth and efficient Euro transactions, allowing access to an extensive portfolio of over 3,000 cryptocurrencies, stocks, commodities, indices, foreign exchange, and ETFs. It is regulated by the CySEC and provides a secure trading environment.

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Can I Buy Bitcoin with Luminor?

Yes, clients of Luminor Bank can invest in Bitcoin by transferring Euros from their accounts or cards to accredited cryptocurrency exchanges in Europe. Once you have moved your funds, they can be swapped for a range of digital currencies, including Ethereum and Arbitrum. For secure and reliable trading experiences, it is advisable to find a platform regulated by a recognized financial authority within the European Union.

How to Buy Crypto with Luminor Bank

Customers of Luminor Bank can securely buy, sell, and trade digital currencies through exchanges regulated within the European Union. After comprehensive evaluation, we recommend eToro for its strict adherence to regulatory norms, a wide range of tradable assets, and a competitive fee structure. eToro supports EUR deposits through various methods, including bank transfers, credit cards, and e-wallets like Skrill and PayPal.

For Luminor Bank customers ready to dive into cryptocurrency trading, here's a straightforward guide:

  1. Account Setup: Begin by establishing an account on eToro, completing all required identity verification procedures.
  2. Currency Preference: During the deposit process, choose "EUR" as your preferred currency.
  3. Fund Transfer: Follow by transferring funds from your Luminor Bank account or card to eToro.
  4. Cryptocurrency Acquisition: Use the search feature to find the cryptocurrency you intend to buy, select it, and finalize your acquisition.
How to Buy Crypto with Luminor Bank.
How to Buy Crypto with Luminor Bank.

Luminor Bank Cryptocurrency Policy

Luminor Bank exemplifies a balanced yet progressive stance on digital assets. The bank facilitates its clients' exploration of the cryptocurrency arena through exchanges sanctioned by European financial authorities. Our top recommendation, eToro, is fully licensed by the Cyprus Securities Exchange Commission (CySEC). Its main office located at 4 Profiti Ilia Str., Kanika Business Centre, 7th floor, Germasogeia, 4046, Limassol, Cyprus.

Digital Asset Investing Fees

Grasping the fee structure linked with cryptocurrency investments is essential for honing your investment strategy. Below is a breakdown of the primary fees you might come across when engaging with a trading platform:

  • Trading Fees: These fees are incurred during the purchase and sale of digital currencies. On platforms like eToro, trading fees, typically calculated as spreads, are generally under 1%.
  • Funding Costs: The charges for depositing funds can differ depending on your chosen method. SEPA and bank transfers usually have no associated fees, whereas credit or debit card deposits may attract fees exceeding 2%.
  • Withdrawal Fees: The fee for withdrawing funds differs per cryptocurrency. For example, Bitcoin typically carries a withdrawal fee of 0.0005 BTC.

In comparison to other market players like Coinbase, which can charge up to 5% on transactions, eToro is noted for its variety of options and competitive fees, positioning it as an attractive choice for Luminor Bank customers.

‍What is Luminor Bank?

Luminor Bank was founded in 2017 and currently has the position of third-largest financial services provider in the Baltics region. With its headquarters in Estonia, it is a new-generation institution that offers modern banking services to individuals, businesses, and even children. Besides loans and investments, their banking products and services include private, corporate, and personal banking.

It is a joint venture between DNB Bank and Nordea Bank. This has successfully made it the choice of more than 870,000 customers. The bank also allows its customers to sell or buy cryptocurrencies with the help of MiCA-regulated (Markets in Crypto Assets) platforms. Apart from Estonia, its digital banking services are accessible in Lithuania and Latvia.

Luminor Bank: Home Page.
Luminor Bank: Home Page.

Final Thoughts

To sum up, Luminor Bank doesn’t offer direct cryptocurrency trading, but it empowers its customers to engage with the digital currency market through regulated platforms like eToro. We recommend this exchange due to its adherence to strict regulatory standards, a comprehensive range of over 3,000 tradable assets, and an attractive fee structure that includes low trading fees, variable funding costs, and competitive withdrawal fees.