Summary: Scalable Capital doesn't provide direct trading of cryptocurrencies like Bitcoin and Ethereum. Instead, they offer Crypto ETPs, which aren't the actual crypto assets. For German investors, Bybit is a better alternative, offering instant Euro (EUR) deposits, various trading options and allowing users to engage with over 350 tokens.

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Can I Buy Crypto with Scalable Capital?

Scalable Capital doesn't allow German investors to purchase actual cryptocurrencies. They offer only Crypto-ETPs, which track crypto prices without owning the underlying asset. Consequently, you can't transfer them to a private wallet. It's advised to consider other options, as investing in cryptocurrencies through Scalable Capital involves counterparty risk due to the inability to withdraw assets.

How to Buy Bitcoin and Crypto with Scalable Capital Alternative

The best alternative to Scalable Capital to buy Cryptocurrencies in Germany is through Bybit. Unlike Scalable Capital, their platform allows you to buy Crypto with Euros (EUR) and then withdraw them onto a separate wallet for secure storage. The Bybit platform offers instant EUR deposits, 350+ cryptocurrencies, low fees at 0.1% and is trusted by over 10 million investors.

Follow the below steps to get started.

  1. Create a free account on Bybit with your email address and create a password.
  2. Go to the 'Buy Crypto' tab, click 'One-Click Buy', and select 'EUR' as your currency.
  3. Select a deposit method to transfer Euros and the cryptocurrency you want to purchase.
  4. Enter the amount you want to purchase and tap the 'Buy' button.
How to buy Crypto with Scalable Capital alternative.
How to buy Crypto with Scalable Capital alternative.

What are Crypto ETPs on Scalable Capital Broker?

Crypto ETPs stands for "Crypto Exchange Traded Products" and it represents a contract that tracks the value of the underlying cryptocurrency. For example, a Solana (SOL) ETP is a contract denominated in Euros (EUR) that tracks the value of the SOL token on other exchanges. It does not represent one SOL token that you can withdraw and use on the Solana network.

All ETPs on Scalable Capital are 100% backed and collateralised by the token, however, it is not redeemable for users.

About Scalable Capital

Scalable Capital is a German online broker that offers ETF investing and portfolio management with low fees. They are regulated by BaFin and offer a mobile app for Android and iOS. Deposits can be made via bank transfer or debit card, however, withdrawals can only be made back to the depositing account. There is no minimum deposit required to open an account.

Investors can choose between a managed portfolio or individual ETFs when opening an account. Scalable Capital does not offer any stock, commodity, or cryptocurrency investing at this time.

Scalable Capital Crypto
Trade Crypto ETPs with the Scalable Capital broker.

Scalable Capital Fees

Scalable Capital's fees structure is as follows:

  1. Service fee: Scalable Capital charged an annual service fee of 0.75% on the total assets under management. This fee covers the cost of account management, rebalancing, and other services.
  2. ETF fees: Scalable Capital's portfolios are built using low-cost Exchange Traded Funds (ETFs). The ETFs have their own expense ratios, which can vary depending on the specific ETF. On average, the ETF costs were around 0.15% to 0.25% per year.

Final Thoughts

In conclusion, while Scalable Capital is a reputable German online broker for ETF investing and portfolio management, it does not directly offer cryptocurrency trading. Instead, they provide Crypto-ETPs, which track the value of the underlying crypto assets without actually owning them.

For German investors seeking a more direct approach to buying, selling, and withdrawing cryptocurrencies, Bybit is a recommended alternative. Bybit offers various trading options, supports over 350 tokens, and allows users to buy crypto with Euros. Remember to consider counterparty risks and explore different platforms to find the best option for your crypto investment needs.