Can I Buy Bitcoin with Openbank?

Since September 16, 2025, Openbank, Grupo Santander’s digital bank, allows customers to buy, sell, and hold Bitcoin, Ethereum, Litecoin, Polygon, and Cardano directly in its app, with more assets and crypto-to-crypto conversions planned.

The service is MiCA-compliant and backed by Santander but charges 1.49% per trade with a €1 minimum. While custody is free, fees are higher than most MiCA-regulated exchanges.

For lower costs and broader access, investors are better off transferring funds from Openbank to licensed exchanges in Europe authorized as CASPs under MiCA or registered locally as VASPs in Spain.

How to Buy Crypto with Openbank

For Openbank customers, the best alternative for digital assets is eToro, a MiCA-regulated exchange licensed across Europe. Serving more than 30 million users, eToro provides access to over 6,000 assets, including cryptocurrencies, stocks, ETFs, and commodities.

The platform supports leading coins like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), alongside features such as staking and copy trading for those interested in yield or diversification.

Step-by-Step Guide to Buying Crypto with Openbank on eToro:

1. Open an eToro Account: Visit eToro’s website, register, and complete the mandatory identity verification under EU regulations.
2. Fund Your Account from Openbank: Deposit euros using a SEPA transfer or your Openbank debit or credit card.
3. Choose a Cryptocurrency: Select from Bitcoin, Ethereum, or any of the thousands of assets listed on eToro.
4. Confirm and Store Your Investment: Enter the amount, review your order, and execute the trade. Assets are visible in your eToro portfolio within seconds.

Fees and Deposit Limits for Openbank Customers

Before funding an exchange account, Openbank clients should understand eToro’s deposit, withdrawal, and trading costs. Below is a breakdown of eToro’s current fee structure:

• Deposits: SEPA transfers in euros are free, with a €50 minimum. Openbank debit and credit card deposits are also free when funded in euros. Non-euro deposits carry a 0.5% FX conversion fee.
• Withdrawals: A flat €5 fee applies to all withdrawals, with funds returned to the same Openbank account or card used for deposits.
• Limits: Verified accounts can deposit and withdraw over €100,000 per day, with higher tiers allowing much larger volumes.
• Trading: eToro charges no commission, applying a spread of about 1% on crypto trades.

In contrast, Openbank’s in-app crypto service charges 1.49% per trade with a €1 minimum. While custody is free, this makes external platforms regulated under MiCA, such as eToro, generally more cost-efficient for regular investors.

Openbank Cryptocurrency Policy

Openbank is one of the few European digital banks offering crypto trading within its own platform, reflecting Santander’s adoption of MiCA rules and integration of digital assets alongside traditional products.

The approach is cautious: only a small set of coins is supported, trades incur a flat 1.49% fee, and services like staking or on-chain withdrawals are excluded. This structure frames crypto as a regulated investment product rather than a gateway to decentralized finance.

For investors seeking wider choice, lower fees, and direct custody, transferring funds to MiCA-authorized Crypto Asset Service Providers (CASPs) or locally registered Virtual Asset Service Providers (VASPs) in Spain remains the more flexible route.

Best Alternative Exchanges for Openbank Customers

Openbank clients who prefer not to use eToro can access several MiCA-regulated exchanges in Europe:

• Kraken: Registered VASP with the Bank of Spain (No. D892). Supports Openbank deposits via SEPA/IBAN transfers, debit and credit cards and more. Lists 350+ coins, charges low fees (maker 0.16%, taker 0.26%), offers Kraken Pro trading, and publishes audited Proof-of-Reserves.
• Bit2Me: Spanish exchange registered with the Bank of Spain (No. D592). Accepts Openbank deposits through SEPA, debit and credit cards, Apple Pay, and Google Pay. Provides 370+ cryptocurrencies, Bit2Me Pro trading, a mobile wallet, and Earn products with competitive yields.
• Coinbase: Supports Openbank deposits via SEPA, debit and credit cards, Apple Pay, Google Pay, and PayPal. Offers 200+ cryptocurrencies, staking rewards, robust security, and full MiCA compliance under Bank of Spain oversight.

Investors should compare fees, asset range, funding methods, and security standards before choosing an exchange.

About Openbank

Openbank is Grupo Santander’s fully digital bank, serving more than 2 million customers across Spain and several European markets. It combines everyday banking with a broad investment and savings offering, including fee-free current accounts, fixed-term deposits, and mortgages. 

On the investment side, clients can access Openbank Wealth, a platform with more than 3,000 funds and ETFs, as well as a robo-advisor service starting from €500.

Final Thoughts

Openbank’s in-app crypto service makes entry convenient but costly, with limited asset choice and higher fees.

For investors who want lower costs, more coins, and advanced features, transferring funds to a MiCA-regulated exchange such as eToro, Kraken, or Bit2Me is the smarter move. 

Always compare fees, custody options, and regulatory protections before deciding where to hold your assets.