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