Crypto Banks
How to Buy Crypto with OTP Bank

How to Buy Crypto with OTP Bank

Fact Checked
February 15, 2023
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Summary: OTP Bank does not offer Cryptocurrency investing services through its online banking platform. That said, the bank does allow its customers to withdraw funds from their bank accounts or cards and deposit them into a licensed and regulated digital asset exchange.

Uphold is the best and most secure Crypto trading platform in Hungary and offers free Hungarian Forint (HUF) deposits from OTP Bank accounts. It is widely regarded to be the most trustworthy exchange in Europe and is the only one that is completely transparent in its assets by providing regularly audited proof-of-reserves.

Table of Contents

Best Crypto Exchange for OTP Bank Customers

Platform Highlights

  • Buy and sell 250+ Cryptocurrencies with Zero Trading Fees.
  • Free and instant Euro (EUR), GBP, USD and other fiat currency deposits.
  • Regularly audited proof-of-reserves showing users funds are backed 1:1.
Uphold - OTP Bank
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Audited Proof of Reserves
Audited Proof of Reserves

Can I buy Cryptocurrencies with OTP Bank?

Unfortunately, no. OTP does not currently allow its customers to buy Cryptocurrencies or store them directly through the bank. This is because its online banking infrastructure does not currently support or facilitate digital asset transactions or storage.

As mentioned above, we recommend using the Uphold exchange to invest in Crypto as it is the largest and most secure platform in Europe. If you would like to learn more about this exchange and its features, visit our comprehensive Uphold Review.

How to buy Crypto with OTP Bank Online

The best way to buy Cryptocurrencies like Bitcoin and Ethereum with OTP Bank is through Uphold. They offer free and instant Euro (EUR) and Hungarian Forint (HUF) deposits from OTP Bank via a variety of different methods including Bank Transfer, Debit Card, SEPA, Google Pay, and Apple Pay.

You can get started in minutes with this simple guide:

  1. Create a free account on Uphold with your email and complete the verification requirements.
  2. Connect your OTP Bank account or card to Uphold by selecting your fiat currency.
  3. You can then select the 'connect bank' button to link your OTP account to Uphold.
  4. Find the Cryptocurrency you want to buy and execute your trade.
How to buy Crypto with OTP Bank Online.
How to buy Crypto with OTP Bank Online.

OTP Bank Crypto Policy

OTP Bank has a clear and concise policy when it comes to Cryptocurrencies. First and foremost, the bank does not allow its clients to use credit cards to purchase digital assets. However, they do allow customers to use debit cards or bank transfers to fund licensed Cryptocurrency exchanges like Uphold. OTP Bank's policy on digital assets may change in the future as more clarity is provided by Hungarian regulators.

About OTP Bank

OTP Bank is one of the leading banks in Hungary with a long history dating back to 1867. The bank provides a wide range of banking and financial services to retail, SME, and corporate customers through its network of over 500 branches and 2,000 ATMs.In addition to traditional banking products and services, OTP Bank also offers a wide range of investment products and services, including stock brokerage, wealth management and private banking.

The bank also has a strong presence in the Hungarian insurance market with its subsidiary, OTP Garancia. OTP Bank is a member of the OTP Group, one of the largest financial services groups in Central and Eastern Europe with over 16 million customers and over 30,000 employees. The group has a strong presence in Hungary, Romania, Bulgaria, Serbia, Montenegro, Croatia, Slovakia, Czech Republic, Albania and Georgia.

OTP Bank
OTP Bank.

Final Thoughts

Although OTP Bank does not offer a direct investment service for Cryptocurrencies, its customers can use the bank to fund their accounts on a licensed exchange like Uphold. This allows them to securely access the Cryptocurrency market in a regulated and compliant manner. If you are looking for an easy way to invest in Crypto with your OTP Bank account, we recommend using Uphold.

Andrew Chen

Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.

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