Crypto Banks
How to Buy Crypto with Targobank

How to Buy Crypto with Targobank

Fact Checked
February 18, 2023
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Summary: Targobank does not currently support the purchase of cryptocurrencies through its online banking platform. The best way to work around this is by signing up for a licensed and regulated crypto exchange in Germany.

We recommend a platform like Bybit because they offer fast and cheap EUR deposits from Targobank to trade over 400 cryptocurrencies. They are also one of the only exchanges that do not require KYC, meaning you do not ned to verify your identity in order to use the platform.

Table of Contents

Best Crypto Exchange in Germany

Platform Highlights

  • Free and instant Euro (EUR) deposits from any German Bank.
  • Trade 400+ Cryptocurrencies with fees starting from a low 0.1%.
  • Non-KYC exchange with proof-of-reserves that show customer funds are backed 1:1.
Bybit - Germany
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Audited Proof of Reserves
Audited Proof of Reserves

Can I buy Cryptocurrencies with Targobank?

If you are looking to buy cryptocurrency with Targobank, unfortunately, you're out of luck. The bank does not currently support such purchases or custodial services through the Targobank online banking platform. That said, they do allow their customers to withdraw fiat to third-party services via bank transfer or debit card/credit card to invest in the asset class

The most affordable cryptocurrency exchange for Targobank users is Bybit. Bybit is a crypto derivatives investing platform that offers spot, margin, futures and options trading. Additionally, users can stake over 200 tokens through the platforms with APY (yields) up to 120%. To learn more, visit our Bybit Review.

How to buy Crypto or Bitcoin with Targobank

The best way to invest in cryptocurrencies with a Targobank online account is through a trusted platform like Bybit. Bybit accepts EUR deposits from Targobank via Bank Transfer, Credit Card, Debit Card, SEPA, Google Pay or Maestro. Get started with these four simple steps.

  1. Create a free account on Bybit with your email address and create a password.
  2. Go to the 'Buy Crypto' tab, then 'One-Click Buy' and select 'EUR' as your currency.
  3. Select a EUR deposit method and the cryptocurrency you want to purchase.
  4. Enter the amount you want to purchase and tap the 'Buy' button.
How to buy Crypto or Bitcoin with Targobank.
How to buy Crypto or Bitcoin with Targobank.

Targobank Cryptocurrency Policy

In April 2021, Targobank updated its online banking terms and conditions to reflect a policy change toward cryptocurrency. The German bank prohibits any activity that involves buying, selling or storing digital assets from off-shore exchanges on behalf of their customers.

The new rules also state that Targobank can refuse any transactions they deem as 'suspicious' or involving cryptocurrencies. If the bank suspects any fraudulent or illegal activity, it can also freeze your assets and close your account without notice. This is why it is important and we emphasise the point of only using secure crypto exchanges like Bybit.

About Targobank

Targobank is a leading retail bank in Germany with over 4 million customers. The bank offers a wide range of banking products and services for private individuals, small businesses and corporate customers. Targobank is a subsidiary of the French bank BNP Paribas.

The bank has a strong focus on customer satisfaction and offers a wide range of banking products and services that are tailored to the needs of its customers. Targobank also offers a wide range of digital banking products and services, such as mobile banking, online banking and contactless payments.

Targobank Online Banking.

Final Thoughts

In conclusion, Targobank does not currently support the purchase of cryptocurrencies or offer custodial services through their online banking platform. However, customers can still withdraw fiat to third-party services via bank transfer or debit/credit card to invest in the asset class. Bybit is a recommended option for Targobank users looking to invest in cryptocurrencies, offering a variety of investment options and accepting deposits in EUR via multiple payment methods.

Dylan Matthews

Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.

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