Can I buy Crypto with Scalable Capital?
No, Scalable Capital does not allow German investors to buy real Cryptocurrencies on their platform. Scalable Capital only offers Crypto-ETPs (exchange-traded products), which are assets tied to the price of crypto but are not the real underlying asset. This means that if you buy crypto on the Scalable Capital platform, you cannot withdraw it to your private wallet.
We recommend avoiding the Scalable Capital broker because the whole point of Crypto investing is being able to hold your coins. When investing in Bitcoin, Ethereum, and other digital assets with Scalable Capital, you are taking counterparty risk by not being able to withdraw your assets.
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.
How to buy 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. Follow the below steps to get started.
- Create a free account on Bybit with your email address and create a password.
- Go to the 'Buy Crypto' tab, click 'One-Click Buy', and select 'EUR' as your currency.
- Select a deposit method to transfer Euros and the cryptocurrency you want to purchase.
- Enter the amount you want to purchase and tap the 'Buy' button.
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 Fees
- Managed portfolios: 0.75% annually + 2% one-time setup fee
- Individual ETFs: 0.25% per trade + 2€ monthly account fee
Scalable Capital is available in the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and United Kingdom. They offer customer support via email and telephone Monday-Friday 9am-6pm CET.
Scalable Capital is an excellent option for investors looking for a low-cost and hassle-free way to manage their investments. However, if you are looking to buy real cryptocurrencies like Bitcoin or Ethereum, then you should use an alternative such as Bybit. Bybit allows German investors to buy crypto with Euros (EUR) and store them in a secure wallet. We recommend reading our full Bybit review before signing up to learn more about the platform and its features.