Crypto Banks
How to Buy Crypto with Openbank

How to Buy Crypto with Openbank

Summary: Openbank is a large banking institution, based in Spain with over 2 million customers. Unfortunately Openbank account holders cannot invest in cryptocurrencies directly through the banking platform. However, there are safe, alternative ways to investing in cryptocurrencies with an Openbank account.

Simply transfer your funds from Openbank account to a secure online broker. We recommend using the Uphold Europe platform, it is a regulated exchange in Europe that offers fast Euro (EUR) deposits and 200 cryptocurrencies. Their platform also has audited proof-of-reserves showing proof of 1:1 backing for customer accounts.

Table of Contents

Best Crypto Exchange for Openbank

Platform Highlights

  • Trade 210+ Cryptos with fast Euro (EUR) deposits from Spanish Banks like Openbank.
  • Regulated in Europe and has audited Proof-of-Reserves for customer funds.
  • Offers multiple asset classes including Crypto, Stocks, ETFs, Metals, Currencies and more.
Uphold - Openbank
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Audited Proof of Reserves
Audited Proof of Reserves

How to buy Bitcoin & Crypto with Openbank

The best way to invest in cryptocurrencies like Bitcoin with an Openbank account in Spain is through Uphold. Users can transfer funds to Uphold from Openbank via bank transfer, credit/debit card, PayPal, Skrill & Neteller. Follow the below steps to buy Bitcoin with an Openbank account.

You can get started with a trusted platform in 4 simple steps:

  1. Sign Up: Create an account on Uphold and complete your verification.
  2. Connect Account: Connect your Openbank account to Uphold by selecting the fiat currency you want to transfer on your dashboard.
  3. Deposit Funds: You can then select the 'connect bank' button to link any Spanish Bank or European Bank and deposit Euros (EUR).
  4. Buy Cryptocurrency: Find the cryptocurrency you want to buy and execute your trade.
Deposit Euros with Openbank.

What are the fees involved in buying crypto?

When you use the Uphold platform, there are zero fees to deposit funds from Openbank. There is however, a $5 withdrawal fee on every withdrawal you make. Additionally, there is a flat 0.5% fee on all cryptocurrency trades including buys or sells. There are no additional fees you need to pay on the Uphold platform to purchase cryptocurrencies.

Openbank Cryptocurrency Policy

Openbank does not have an official cryptocurrency policy, but has nothing stated in its terms or conditions that would prohibit its users from investing in digital assets. Additionally, Openbank is a digital bank and has announced its plans to integrate blockchain technology into its platform. So it is considered a 'crypto-friendly' bank and often make positive comments in relation to crypto.

What is Openbank?

Openbank is a Spanish banking institution that was founded in 1995 and is headquartered in Madrid, Spain. The bank has a strong focus on digital banking, and offers a mobile app and online banking platform for customers to use. Openbank also has a large network of branches and ATMs across Spain with over 2 million customers.

Openbank platform.
Openbank Online Banking.

Final Thoughts

If you’re looking to buy or invest in cryptocurrencies with your Openbank account, Uphold is the best platform available. Their platform offers fast Euro (EUR) deposits from Spanish Banks like Openbank and a range of digital assets including Bitcoin, Ethereum and more. Plus their platform is secure, reliable and fully regulated in Europe with audited proof-of-reserves for customer accounts.

Alysha Jane

I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.

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