Summary: Nordnet does not offer real cryptocurrency trading on its platform. Investors can only buy or sell crypto ETPs which are contracts that track the price of coins. Buying these contracts is expensive and means you cannot withdraw them onto a personal wallet.
We recommend an alternative multi-asset broker like Uphold that offers over 250 cryptocurrencies to buy & stake with zero fees. Their platform is licensed and regulated in Europe and is trusted by over 10 million investors in the region.
- Trade over 250 Cryptos with fast and cheap EUR deposits from any European Bank.
- Regulated and Licensed by the Financial Conduct Authority (FCA), FinCEN and has audited Proof-of-Reserves for customer funds.
- Trusted by over 10 million retail and institutional investors in Europe.
Can I Buy Bitcoin with Nordnet?
Yes, Nordnet offers access to the crypto market, but with specifics. Users can invest in 5 crypto-based ETPs (Exchange-Traded Products) which reflect price movements of the cryptocurrencies. Nordnet supports ETPs for Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), and Polkadot (DOT).
It's essential to note that Nordnet doesn't facilitate direct crypto trading. You can't buy digital coins and transfer them to a personal wallet for full ownership. You're actually purchasing contracts tracking the value of these digital assets.
How to Buy Bitcoin and Crypto with a Nordnet Alternative
ooking for a Nordnet alternative for buying Bitcoin and other cryptos? Consider Uphold. As one of Europe's premier platforms, Uphold lets you trade cryptos, stocks, ETFs, commodities, currencies, and more. Uphold is a regulated, popular broker with over 10 million users in 150 countries. It offers more than 250 authentic cryptocurrencies at considerably lower fees than Nordnet, providing a cost-effective trading experience.
You can get started with this simple guide:
- Sign Up: Create an account on Uphold and complete your verification.
- Connect Account: Connect any European 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 Cryptocurrency: The final step is to find the cryptocurrency you want to buy and execute your trade.
Nordnet Crypto Trading Fees
When it comes to trading cryptocurrencies on Nordnet via their Exchange-Traded Products (ETPs), a certain fee structure applies. Each trade attracts a 0.25% fee, in addition to a fixed 1% incorporated into the price spread. This results in a total potential cost of up to 1.25% per trade.
Given this pricing structure, it's important to note that trading on Nordnet could be one of the more costly methods for investing in digital assets. The combined fees make it a somewhat expensive option for those seeking to diversify their portfolios with cryptocurrencies.
About Nordnet
Nordnet is a digital bank that offers services in savings, investments, loans, and pensions. It's based in the Nordic region, and primarily serves customers in Sweden, Norway, Denmark, and Finland.
Nordnet provides a broad range of investment options, including individual stocks, bonds, exchange-traded funds (ETFs), mutual funds, and more recently, cryptocurrency exchange-traded products (ETPs). The company also offers online banking services, a savings account, and loans, including a home mortgage loan. The company prides itself on being customer-centric and aims to provide better investment opportunities for all, whether you're a beginner or an experienced trader.
Final Thoughts
In conclusion, Nordnet provides a unique opportunity to invest in the cryptocurrency market through Exchange-Traded Products (ETPs) that track the price movements of Bitcoin, Ethereum, Cardano, Solana, and Polkadot. However, it's important to note that this platform doesn't allow direct crypto trading.
For those seeking a more hands-on approach, Nordnet alternative Uphold may offer a more suitable option. Uphold supports direct crypto trading with over 250 cryptocurrencies and boasts lower fees than Nordnet. Remember, each method carries its own fee structure and potential costs, so it's essential to consider these when choosing the best platform for your crypto investment journey.
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.
