Summary: SpareBank 1 does not offer cryptocurrency investing services directly on its platform. However, the bank’s clients can invest in cryptocurrency by sending their funds to a licensed crypto exchange platform regulated by the Financial Supervisory Authority of Norway (FSAN).

Following a detailed investigation into the most reliable digital currency exchanges available to SpareBank 1 customers, we identified Bybit as the best option. Bybit offers free and instantaneous NOK deposits to trade hundreds of cryptocurrencies with low fees from 0.1%. In addition to trading, it provides lending and borrowing services, several staking options and more.

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Can I Buy Bitcoin with SpareBank 1?

Yes, SpareBank 1 clients can convert their Norwegian Krones (NOK) directly for cryptocurrencies like Bitcoin or Ethereum by using a cryptocurrency investing platform in Europe. Using an exchange regulated by the Financial Supervisory Authority of Norway (FSAN) or the European Securities and Markets Authority (ESMA) is essential for asset security. 

How to Buy Bitcoin or Crypto with SpareBank 1

SpareBank 1 has made investing in Bitcoin and other cryptocurrencies simple and safe by approving their customer's transfers of Norwegian kroner to a licensed digital asset exchange. Bybit is the best choice for SpareBank 1 customers as it offers free and instant NOK deposits via Bank Transfer, Credit/Debit Card, SEPA, Zen, Google Pay or Maestro.

SpareBank 1 account holders can buy crypto with this easy guide:

  1. Open a free account on Bybit and complete the verification process.
  2. Tap ‘Buy Crypto’ and select a payment method.
  3. Choose ‘NOK’ as your currency and pick a crypto to buy.
  4. Enter the amount you want to invest and click ‘Buy’.
How to Buy Bitcoin or Crypto with SpareBank 1.
How to Buy Bitcoin or Crypto with SpareBank 1.

Is SpareBank 1 Crypto-Friendly?

SpareBank 1 doesn't prevent customers from sending money to approved crypto exchanges, making it a crypto-friendly bank. There have been no reported incidents of frozen funds when customers transfer to trustworthy, compliant platforms like Bybit. Using a trading platform that is overseen by the FSAN or ESMA is recommended for regulatory compliance in the country.

What is SpareBank 1?

SpareBank 1 is a major financial player in the Nordic region, with operations in Norway, Sweden, and Denmark. It offers financial services to individuals, businesses, and institutional investors, focusing on digital solutions, excellent customer service, and sustainability.

SpareBank 1 provides financial services like savings, loans, insurance, and investments. Their well-designed digital platform and mobile app make managing your finances a breeze. Furthermore, SpareBank 1 offers educational resources to help its customers make informed financial decisions.

Final Thoughts

In summary, while SpareBank 1 doesn't support direct crypto transactions, it allows clients to enter the crypto world through fund transfers to secure, regulated digital asset exchanges. Bybit is a top choice for SpareBank 1 clients, offering instant, free deposits in several currencies. With minimal fees, a wide range of tokens to trade and multilingual support, it’s a great platform for Norwegian investors.