How to Buy Crypto with Banco Sabadell

Can I Buy Bitcoin with Banco Sabadell?

Yes, Banco Sabadell enables its clients to purchase Bitcoin and other cryptocurrencies. The bank facilitates transfers to crypto exchanges in Spain that hold a Virtual Asset Services Provider (VASP) license issued by the Bank of Spain. Clients can send Euros to these platforms through bank or SEPA transfers, IBAN payments, and card deposits.

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How to Buy Crypto with Banco Sabadell

‍Banco Sabadell users can purchase cryptocurrencies using regulated exchanges such as Uphold. This exchange complies with Spanish regulations and offers access to over 250 digital currencies and other assets like fiat currencies and commodities. You can fund your account using Euros with bank transfers, IBAN, Google Pay, or debit and credit cards.

Here’s a short guide to getting started with crypto using Banco Sabadell:

1. Sign Up for an Account: Visit Uphold's website, create an account, and complete the verification process to get started.
2. Deposit Funds: Select your preferred deposit method and transfer Euros from your Banco Sabadell account.
3. Select Your Cryptocurrency: Explore the range of assets available and choose the cryptocurrency that interests you.
4. Make Your Purchase: Enter the amount you'd like to buy, confirm the transaction details, and execute your trade.

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What are the Fees?

Investing in cryptocurrency through an exchange often comes with costs for depositing and withdrawing funds and trading assets. These charges vary based on the platform you use.

Uphold is an affordable option for Banco Sabadell clients as it doesn’t charge commission fees on trades. However, it does apply an average spread of around 1% when converting Euros to Bitcoin. By comparison, other platforms like Coinbase may impose trading fees exceeding 2%.

Always review the fee structure of any exchange before proceeding with your transaction to ensure you’re getting the best possible rate for your investment.

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Banco Sabadell Cryptocurrency Policy

‍Banco Sabadell allows its clients to engage in crypto transactions by facilitating transfers to licensed exchanges that are registered with the Bank of Spain as Virtual Asset Service Providers (VASP). These platforms follow strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

The bank is also preparing for the implementation of the EU’s Markets in Crypto-Assets Regulation (MiCA), which is set to establish a standardised regulatory framework for crypto across Europe by 2024.

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About Banco Sabadell

Banco Sabadell is one of Spain’s leading banks, known for its comprehensive range of services. For international customers living in Spain, the bank offers specialized services that include everything from personal accounts to mortgages and insurance solutions.

The bank provides products such as the Sabadell Wallet for easy mobile payments, the Expansión Account for daily banking needs, and its BS Online platform for comprehensive online banking services.

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Bottom Line

Banco Sabadell account holders can invest in crypto by facilitating Euro transfers to regulated exchanges like Uphold. With access to over 250 assets, instant deposits, and zero transfer fees, Uphold is an excellent choice for trading and staking digital currencies.

Be sure to review the fee structures of any exchange to secure the best rates, and keep an eye on upcoming regulations like MiCA, which could impact your investments.