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.
How to buy Bitcoin & Crypto with Openbank
The best way to invest in cryptocurrencies like Bitcoin with an Openbank account in Spain is through eToro. Users can transfer funds to eToro from Openbank via bank transfer, credit/debit card, PayPal, Skrill & Neteller. Follow the below steps to buy Bitcoin with an Openbank account.
- Create an account on eToro and complete the verification process.
- Click 'Deposit Funds', pick a method and send money from your Openbank account.
- Type in 'Bitcoin' into the search bar and select 'Trade'.
- Input the amount you wish to invest and tap 'Open Trade'.
What are the fees involved in buying crypto?
When you use the eToro 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 1% fee on all cryptocurrency trades including buys or sells. There are no additional fees you need to pay on the eToro 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.