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How to Buy Crypto with Swedbank

How to Buy Crypto with Swedbank

Adrian Graham
Fact Checked
Aug 18, 2022

Summary: Swedbank does not offer any services for its customers to buy, sell or trade Cryptocurrencies through their online banking platform or via Swedbank Pay. That said, customers can deposit EUR into a licensed and regulated broker from their Swedbank account to invest in the asset class.

We recommend a platform like eToro because they offer fast and cheap EUR deposits to trade over 80 Cryptocurrencies and 7,000+ Stocks, ETFs, Commodities and other assets.

Table of Contents

eToro Platform Highlights

Platform Highlights

  • Fast and cheap Euro (EUR) deposits from all European Banks.
  • Licensed by the Financial Conduct Authority (FCA) and ESMA.
  • 80+ Cryptos and over 7,000 Stocks, ETFs & Commodities with low fees.

Can I Buy Cryptocurrencies with Swedbank?

Unfortunately, no. Swedbank does not offer any cryptocurrency products or services for its customers to buy, sell or custody their coins with the bank. This is because their online banking platform and Swedbank Pay do not have the necessary infrastructure to support digital asset trading and wallets.

However, Swedbank account holders can deposit EUR from their bank account into a European Securities and Markets Authority (ESMA) regulated crypto broker to invest in digital assets.

Swedbank

How to Buy Crypto or Bitcoin with Swedbank

The best way to buy cryptocurrencies in Sweden with a Swedbank account is with a regulated trading platform like eToro. They offer the fastest and cheapest deposits for Swedbank account holders to trade over 80 different digital assets which include popular new tokens like Solana, Avalanche, Shiba Inu, Optimism and Binance Coin.

You can get started in minutes from your Swedbank account with this simple 4-step guide:

  1. Create an account: Sign up to the eToro platform and verify your identity (personal or company).
  2. Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit funds from Swedbank, Swedbank Pay, or an alternative method.
  3. Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
  4. Execute your trade: Input the fiat amount you want to buy and execute your trade.
Buy Crypto Swedbank

What are Swedbank's Crypto Policies?

Swedbank is crypto-friendly and does not freeze customer accounts or ban users from investing in digital assets. That said, they have not announced any plans to support cryptocurrencies natively through their suite of banking products. This lack of support may be because cryptocurrencies are still considered a high-risk investment by many traditional financial institutions. For example, the Swedish Financial Supervisory Authority (FSA) has warned customers about the risks associated with buying, selling, and holding digital assets.

What's more, the Swedish Riksbank (Sweden's Central Bank) is also researching the possibility of launching a Central Bank Digital Currency (CBDC) but has not made any decisions regarding whether or not they will issue one in the future.

About Swedbank

Swedbank is a Swedish bank that was founded in 1820 and offers a full range of banking products and services to its personal, corporate, and institutional clients. They have over 7 million customers and operate in Sweden, Estonia, Latvia, and Lithuania.

Swedbank is one of the 'big four' banks in Sweden along with Nordea, SEB, and Handelsbanken. The bank is headquartered in Stockholm and has over 16,000 employees. In 2019, Swedbank reported a net income of $3.4 billion and their total assets were valued at $272 billion.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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