How to Buy Bitcoin with BNP Paribas

BNP Paribas does not offer direct crypto trading services through its banking app, but it allows fund transfers to exchanges in France that comply with Autorité des Marchés Financiers (AMF) regulations. These platforms must hold a Crypto Asset Service Provider (CASP) license.

One recommended platform is Kraken, a licensed exchange that supports instant Euro (EUR) deposits through IBAN bank transfers, debit/credit cards, Apple Pay, and Google Pay. Kraken lets users trade over 280 digital assets, including Bitcoin, ETH and Solana.

Here’s how to buy Bitcoin with BNP via Kraken:

1. Sign Up: Go to Kraken’s website, create an account, and complete the KYC verification.
2. Deposit Euros: In Kraken’s ‘Funding’ section, transfer funds from your BNP account.
3. Select Bitcoin: Choose Bitcoin from Kraken’s list, ensuring your currency is set to EUR.
4. Confirm Purchase: Enter the amount, review, and confirm the transaction.

What are the Fees?

Fees for buying crypto with a BNP Paribas account depend on the exchange you choose. Trading fees vary, typically ranging from 0.1% to 2%.

For example, Kraken offers a low 0.16% spot trading fee with no deposit fees for Euro transfers via SEPA or IBAN, ideal for BNP Paribas users. In contrast, platforms like Coinbase can charge up to 2%, which can significantly impact your returns over time. 

Always review the fee structure on each platform before making a transaction to avoid unexpected costs.

BNP Paribas Cryptocurrency Policy

BNP Paribas supports fund transfers to cryptocurrency exchanges registered as Crypto Asset Service Providers (CASPs) with the AMF. As France transitions to the EU’s Markets in Crypto-Assets (MiCA) framework, current regulations will be replaced by January 2025.

From December 30, 2024, crypto service providers will need CASP authorization, imposing stricter requirements on Anti-money laundering laws, cybersecurity, and operations. MiCA will also grant these providers a European "passport," allowing them to operate across all EU member countries.

About BNP Paribas

BNP Paribas is a global banking leader based in France, offering a wide range of services. Key products include Hello bank! for digital banking and Wealth Management for high-net-worth clients. 

They also provide BNP Paribas Personal Finance for consumer credit and Securities Services for institutional asset management. With operations in over 70 countries, BNP Paribas is known for its innovative online solutions and commitment to sustainable finance.

Bottom Line

BNP supports transfers to regulated exchanges like Kraken, making it easy to buy Bitcoin with instant Euro deposits and no transfer fees. While the bank doesn't offer direct crypto services, it doesn't block users from sending money to compliant platforms in France.

Always check exchange fees, which can vary greatly by platform, and stay informed about upcoming MiCA regulations for a secure experience.