Can I Buy Bitcoin with Commerzbank?

Yes, Commerzbank clients are able to purchase Bitcoin by transferring Euros to BaFin-licensed digital asset exchanges in Germany that comply with anti-money laundering (AML) standards. This approach provides compliant access to cryptocurrency markets while adhering to local and broader EU regulatory requirements.

How to Buy Crypto with Commerzbank

Commerzbank allows users to invest in cryptocurrencies by approving Euro transfers to BaFin-regulated exchanges. eToro provides access to over 6,000 assets, including popular cryptocurrencies like Bitcoin, Ethereum and Solana, plus other financial instruments. Deposits can be made from Commerzbank accounts via IBAN/SEPA transfers, Sofort or card payments.

Follow this guide to buy crypto with Commerzbank:

1. Create an Account: Visit eToro’s website, register, and complete the ID verification process.
2. Fund Your Wallet: Navigate to the "Deposit" section, select a payment method (SEPA, Sofort, bank transfer, or card), and transfer Euros from your Commerzbank account.
3. Select Your Crypto: Explore eToro’s cryptocurrency offerings and choose the asset you wish to purchase.
4. Make Your Purchase: Specify the amount you want to invest, review the details, and confirm the transaction to finalize your purchase.

What are the Fees?

If you chose eToro to purchase cryptocurrency with funds from your Commerzbank account, here’s a breakdown of the key fees to consider when using the platform:

• Deposits: eToro converts Euro deposits to USD, which incurs a 0.5% currency conversion fee when transferring from your Commerzbank account. There are no additional deposit costs.
• Withdrawals: There’s a $5 fee for USD withdrawals. If withdrawing Euros, an additional 0.5% conversion fee applies to convert USD back to Euros.
• Trading Fees: eToro charges a 1% fee per crypto transaction. This fee is added to the spread, which is the difference between the buy and sell prices.
• Inactivity: A $10 monthly fee applies after 12 months of inactivity. You can avoid this fee simply by logging in occasionally. Deactivating your account has no cost.

When compared to other platforms, such as Bitpanda, where trading fees alone exceed 2%, eToro’s structure remains simple and affordable. There are no hidden fees for deposits, making it an appealing option for Commerzbank clients looking to invest in crypto.

Is Commerzbank Crypto-Friendly?

Commerzbank permits clients to transfer funds to cryptocurrency exchanges that are regulated by BaFin or other relevant European authorities, ensuring adherence to EU anti-money laundering (AML) standards for secure transactions.

In November 2023, Commerzbank became the first German full-service bank to receive a crypto custody license under the German Banking Act. This milestone enables the bank to develop a comprehensive range of digital asset services, with a particular focus on crypto assets.

Although the bank does support crypto trading within its services, the fees are extremely high compared to traditional digital asset exchanges, and the selection is limited to only Bitcoin and Ethereum.

About Commerzbank

Commerzbank, headquartered in Frankfurt, Germany, is a leading financial institution serving approximately 11 million private and small-business customers domestically, with over €400 billion in assets under management.

Operating under the Commerzbank and Comdirect brands, it offers a comprehensive suite of services, including online and mobile banking, advisory centers, and a network of around 400 branches.

Bottom Line

In conclusion, Commerzbank enables customers to invest in cryptocurrencies securely by approving transfers to BaFin-regulated exchanges. eToro operates under strict European regulatory standards and is available to German users, making it a trusted platform for local investors.

This method provides Commerzbank clients with a compliant way to access digital assets while staying aligned with German and broader EU financial regulations.