Summary: Swissquote enables the purchase of 34 major cryptocurrencies and offers Crypto Staking services, but its trading fees can be on the higher end. As an alternative, eToro provides lower fees and a broader range of assets, backed by regulatory oversight. Swiss residents considering crypto investments should weigh these options to find a platform that suits their needs and preferences.
- Financial Conduct Authority (FCA) regulated broker with over 30 million users.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs and more.
- Deposit methods include Bank Transfer, Debit Card, Credit Card, Sofort and more.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can I Buy Bitcoin with Swissquote?
Yes, Swissquote allows you to buy 34 major cryptocurrencies, including Bitcoin and Ethereum, through its brokerage platform and even enables you to withdraw these assets to your personal wallet. However, it's worth noting that Swissquote's trading fees are on the higher side. They charge a 1% flat fee for trades under 10,000 CHF, which decreases to 0.75% and 0.5% for higher-value trades. If you're concerned about costs, you might want to explore other crypto exchanges in Switzerland that offer more competitive fee structures.
How to Buy Crypto with a Swissquote Alternative
If you're in Switzerland and looking for an alternative to Swissquote for your cryptocurrency investment needs, eToro is an option worth considering. Offering over 3,000 different digital assets and industry-leading trade commissions, eToro provides a cost-effective and diverse crypto trading experience. The platform is regulated by authorities such as the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of security. To get started, you'll need to follow four simple steps:
- Create an eToro account and complete the verification process.
- Select your preferred currency for depositing funds (including options like EUR, CHF, and 30 more).
- Link a Swiss or European bank account to quickly add funds in your selected currency.
- Finally, locate the cryptocurrency you're interested in and execute your trade.
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Swissquote Crypto Staking
Swissquote has expanded its offerings to include a Crypto Staking service, allowing users to earn interest on certain digital assets just by keeping them in their Swissquote account. As of September 2021, the platform provides competitive annual staking rates, reaching up to 13% for particular assets like Polkadot (DOT) and Tezos (XTZ). This feature presents an effortless way for account holders to generate passive income on their cryptocurrency investments, without any additional actions needed beyond maintaining their holdings on the platform. The staking service adds another layer of functionality, making Swissquote a comprehensive solution for various types of crypto investors.
Digital Asset Investing Fees
For Swiss investors considering crypto investments, understanding the fee structure is key to making efficient and profitable transactions. Here's a breakdown:
- Trading Spreads: Platforms usually charge a fee for trading crypto assets. For instance, eToro offers variable spreads that average around 1%, making it a cost-effective choice compared to others that may charge upwards of 2% for similar services.
- Deposit Fees: The fee for depositing CHF into your trading account can differ depending on your chosen payment method. Bank transfers are generally the most cost-effective option, while using credit or debit cards could incur fees exceeding 2%.
- Withdrawal Fees: Costs for withdrawing funds can vary depending on the specific cryptocurrency. Typically, withdrawing Bitcoin, for example, may incur a set fee of around 0.0005 BTC on many platforms.
Given these factors, eToro stands out as a strong alternative to Swissquote for Swiss investors. It's regulated, offers a diverse range of assets, and features a competitive fee structure, making it an optimal choice for those looking to invest in digital currencies.
What is Swissquote?
Swissquote is a leading online banking and brokerage firm in Switzerland. The company was founded in 1996, and today it has over 4,000 employees spread across its offices in Zurich, Bern, Geneva, Dubai, Luxembourg, Singapore, and London. Swissquote provides a wide range of services to individuals and institutional clients, including online banking, asset management, trading, and research. Swissquote is a regulated financial institution in Switzerland and is a member of the SIX Swiss Exchange.
Swissquote's online banking platform offers a wide range of features and services, including multi-currency accounts, mobile banking, credit and debit cards, loans, and mortgages. The company's asset management services provide clients with access to a team of dedicated investment professionals who offer tailor-made solutions to meet their specific needs.
Final Thoughts
In summary, Swissquote offers a robust platform for trading and staking a variety of cryptocurrencies. While it brings the trust and reliability of being a regulated Swiss financial institution, its fee structure may deter cost-conscious investors. For those seeking more competitive fees and a wide array of digital assets, eToro stands out as a compelling alternative in Switzerland. It's fully regulated and offers a straightforward four-step process to start trading, making it an optimal choice for Swiss residents interested in diving into the crypto market.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
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