Crypto Banks
Buy Crypto with SpareBank 1

Buy Crypto with SpareBank 1

Fact Checked
January 31, 2023
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Summary: SpareBank 1 does not offer any products or services that allows customers to buy Bitcoin and Cryptocurrencies directly through its online banking platform. However, customers can transfer funds from their SpareBank 1 account to a regulated crypto exchange to invest in the asset class.

For investors in Norway, we recommend the Uphold EU platform because they offer instant and cheap deposits from SpareBank 1. Their exchange has over 200 cryptocurrencies available with low fees and are regulated in Europe with an audited proof-of-reserves.

Table of Contents

Best Crypto Exchange for SpareBank 1

Platform Highlights

  • Trade 210+ Cryptos with fast Euros (EUR) or Norwegian Krone (NOK) deposits from SpareBank 1.
  • Regulated in Norway & Europe and has audited Proof-of-Reserves for customer funds.
  • Offers multiple asset classes including Crypto (and Crypto Staking), Stocks, ETFs, Metals, Currencies and more.
Uphold - SpareBank 1
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Audited Proof of Reserves
Audited Proof of Reserves

How to Buy Crypto with SpareBank 1

As mentioned above, the best exchange to buy cryptocurrencies in Norway with a SpareBank 1 account is Uphold. Their platform is licensed and regulated by the European Securities and Markets Authority (ESMA), making them a safe venue to buy and sell digital assets. They also offer direct deposits from SpareBank 1 via bank transfer, debit card or credit card.

You can get started in 4 simple steps:

  1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
  2. Connect Account: Select the currency you want deposit on the Uphold Platform (NOK, EUR + 30 more).
  3. Deposit Funds: Connect your SpareBank 1 account to quickly deposit your selected fiat currency.
  4. Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
Buy Crypto SpareBank 1
Deposit Norwegian Krone (NOK) or Euros (EUR).

What are the Fees to Buy Crypto?

The fees associated with buying cryptocurrencies with SpareBank 1 will vary depending on which platform you use. Uphold generally has very low trading fees, starting as low as 0.5% for market trades and no deposit charges. This is significantly cheaper than alternatives like Coinbase, who charge up to 2.49% per trade, on top of a large deposit fee.

SpareBank 1 Crypto Policy

SpareBank 1 is a crypto-friendly bank that allows its customers to transfer funds into regulated digital asset exchanges.  They recognize that the cryptocurrency markets are rapidly evolving, and aim to provide their customers with a safe and secure environment in which to make their transactions.

The bank has established a set of rules regarding the use of cryptocurrencies and digital financial instruments. The policies are designed to ensure that all transactions comply with applicable laws and regulations, as well as adhere to the bank’s risk management principles.

About SpareBank 1

SpareBank 1 is a Nordic financial services group with operations in Norway, Sweden and Denmark. It provides banking and other financial services to retail customers, businesses and institutional investors. The bank has a strong focus on digital solutions, sustainability and customer service.

SpareBank 1

SpareBank 1 offers savings products, loans, mortgages, insurance and investments as well as a range of other services. It has a well-developed digital platform and mobile app, which allow customers to access their accounts and manage their finances conveniently from anywhere at any time.

The bank also provides educational resources to help people make better financial decisions. As part of its commitment to sustainability, Sparebank 1 invests in renewable energy and supports social initiatives. It is a member of several sustainable development initiatives, such as the Global Compact and Principles for Responsible Banking. By providing innovative products, services and advice Sparebank 1 helps its customers succeed financially.

Final Thoughts

SpareBank 1 does not offer any direct services to buy cryptocurrencies, but they do allow customers to transfer funds into regulated exchanges which provide a secure and compliant way to invest in the asset class. Uphold is our recommended platform for Norwegian investors due to their low fees, fast deposits and large selection of digital assets.

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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