Can you Buy Crypto with PostFinance?
Yes, investors can connect their PostFinance bank accounts to licensed Swiss cryptocurrency exchanges and deposit Swiss Francs (CHF), Euros (EUR) and other currencies. With this method, account holders can easily transfer funds to buy crypto assets in a compliant way. We advise that investors opt for FINMA or European Securities and Markets Authority (ESMA) authorized platforms and steer clear of unregulated alternatives, which may present potential custodial risks.
How to Buy Bitcoin and Crypto with PostFinance
The most effective way to buy and sell Bitcoin and cryptocurrencies with PostFinance is through a regulated exchange that provides swift & free bank transfers. Based on our evaluation, we recommend the eToro platform because it enables instant & zero-cost SEPA bank transfers from PostFinance to trade over 3,000 cryptocurrencies, stocks, ETFs & more with competitive fees.
Follow this straightforward 4-step guide to begin:
- Sign up for a complimentary account on eToro and complete the onboarding process.
- Click the 'Deposit Funds' button located at the bottom left of your screen.
- Select the currency and your preferred payment method, then transfer funds from your PostFinance account.
- Complete the deposit and utilize the search bar to acquire your chosen token.
What are the Fees?
Depositing Swiss Francs (CHF) using PostFinance is completely free on eToro for SEPA bank transfers, including CHF withdrawals. However, if you deposit funds using a debit or credit card, a 2.49% fee will apply, which is charged by the card provider (VISA or Mastercard) and not the platform itself.
Another fee investors should take into account is the spread between the purchase and sale price of the crypto asset of interest. The spread on eToro averages around 1%, which is more competitive than well-known alternatives such as Coinbase, where charges exceed 1.5%.
Is PostFinance Crypto-Friendly?
Yes, PostFinance is a crypto-friendly bank in Switzerland, permitting its clients to transfer funds to Swiss Financial Market Supervisory Authority (FINMA) or European Securities and Markets Authority (ESMA) regulated exchanges. As a result, account holders need not worry about potential account freezes or blocked transfers when depositing or withdrawing Swiss Francs (CHF) to licensed crypto brokers.
In conclusion, while PostFinance does not offer native cryptocurrency trading or investment options, it is a crypto-friendly bank that allows its clients to invest in digital assets through secure, FINMA or ESMA-regulated exchanges like eToro. By connecting their PostFinance accounts to such platforms, customers can effortlessly deposit Swiss Francs (CHF) and other currencies to trade over 3,000 assets, including cryptocurrencies, stocks, ETFs, and more.