Key Takeaways: The BW Bank online banking platform does not directly offer any products or services which enable customers to buy Cryptocurrencies in Germany. That said, investors can withdraw Euros (EUR) from their BW account into a licensed cryptocurrency broker to invest in digital assets.
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How to Buy Bitcoin or Crypto with BW Bank
The fastest and easiest way to invest in Bitcoin or other cryptocurrencies like Ethereum and Solana is with a European Securities and Markets Authority (ESMA) licensed digital asset trading platform. In this example, we will show BW bank account holders how to buy Bitcoin with a Bank Transfer from BW Bank.
It is important to note that investors can also buy cryptocurrencies with a BW Bank credit and debit card. Follow the below steps to get started.
- Step One: Create an account on eToro, verify your identity and complete the onboarding process.
- Step Two: Select ‘Deposit Funds’ then choose ‘Bank Transfer’ as method and enter the amount of EUR you want to deposit.
- Step Three: You will be redirected to this page, simply copy their details into your BW banking app and transfer your funds. Bank transfers can take approximately 4-7 business days to be processed from the time of transfer.
- Step Four: Once your funds have arrived into your eToro account, visit the home page and search for Bitcoin (or the cryptocurrency you wish to purchase) and select ‘ Open Trade’.
If 4-7 business days is too long for your deposit to be processed, you can deposit funds instantly via debit or credit card. To deposit via card, simply select ‘Credit/Debit Card’ under ‘Deposit Funds’.
BW Bank Cryptocurrency Policy
BW Bank has not officially made a statement in regards to their stance on cryptocurrencies. It does not have anything stated in its policies that would prohibit its users from investing in digital assets such as cryptocurrencies. BW Bank account holders should not be concerned when transferring funds from their bank accounts to licensed trading platforms.
There have been zero reports of users funds being frozen when transferring to a regulated and licensed cryptocurrency exchanges since the boom of the asset classes popularity amongst German investors.
About BW Bank
The BW Bank is a German bank headquartered in Stuttgart. It was founded in 1869 as the "Bank für Wirttemberg" and changed its name to "Baden-Württembergische Bank" in 1970. As of December 31, 2016, the bank had total assets of EUR 206.8 billion and a workforce of 4,972 employees.
The bank is the fourth largest bank in Germany by market capitalization and one of the country's leading financial institutions. The bank provides a wide range of banking and financial services to private individuals, small businesses, corporate clients, and institutional investors. These services include retail banking, corporate banking, investment banking, asset management, and insurance.
BW Bank is a major player in the German banking market and has a strong presence in the country's major cities. The bank has over 1,000 branches across Germany and also has subsidiaries in Austria, Switzerland, Luxembourg, and the United Kingdom.
BW is majority-owned by the Baden-Württembergische Landesbank (BWL), which is itself majority-owned by the state of Baden-Württemberg. The BWL is one of the largest banks in Germany with total assets of EUR 193 billion and a workforce of 5,500 employees.