Can I Buy Bitcoin with PostFinance?

Yes, PostFinance customers can invest in digital assets like Bitcoin through crypto exchanges in Switzerland that adhere to the Financial Market Supervisory Authority (FINMA) regulations. While the bank doesn’t directly offer crypto investments, users can deposit Swiss Franc (CHF) to licensed exchanges that follow strict anti-money laundering (AML) guidelines.

How to Buy Crypto with PostFinance

PostFinance customers in Switzerland can buy crypto through regulated exchanges like Kraken, which is authorised to operate as a Virtual Asset Service Provider (VASP). It accepts deposits in euros and Swiss francs through SEPA and bank transfers, as well as Apple Pay, Google Pay, and credit or debit cards, giving users access to over 290 digital assets for trading and staking.

Follow this guide to buy crypto using your PostFinance account:

1. Create an Account: Go to Kraken’s official site and sign up. Complete the necessary KYC verification by uploading ID and following a few steps to verify your account.
2. Deposit Funds: Once registered, head to the “Funding” section. Select your deposit method, like SEPA transfer, to send euros or Swiss francs from your PostFinance account without extra fees.
3. Choose Coin: With funds available, browse the extensive list of assets and select the cryptocurrency you’d like to buy.
4. Execute Trade: Enter the amount of crypto you want to purchase, check the transaction details, and confirm to complete your trade.

What are the Fees?

When buying cryptocurrency with PostFinance through an exchange, it's important to be aware of the fees associated with using an exchange. These typically include costs for deposits, withdrawals, and trades.

For PostFinance customers, Kraken provides zero fees on euro deposits made through SEPA transfers. Trading fees are competitive, starting at 0.16% for spot trades, much lower than PostFinance’s fees, charging upwards of 1.8% plus additional costs for opening an account.

Remember that withdrawal fees vary depending on the specific token, as network transaction costs are subject to change. Checking these fees beforehand allows you to plan your budget more accurately.

PostFinance Cryptocurrency Policy

PostFinance now enables private customers to buy cryptocurrency directly within its ecosystem through e-finance or the PostFinance App. Clients interested in crypto can navigate through the Investing section to browse 12 tradeable digital currencies, including Bitcoin and Ethereum. However, the trading costs are extremely high, and the selection is limited.

For those who want lower fees and a diverse collection of cryptocurrencies to trade, the bank facilitates CHF transfers to digital asset platforms compliant with the Financial Market Supervisory Authority (FINMA) and anti-money laundering (AML) requirements. These regulations provide a secure framework for digital asset providers and initial coin offerings (ICOs). 

About PostFinance

PostFinance is one of Switzerland's largest retail banks, primarily focused on banking services that simplify financial management for both individuals and businesses. As a digital leader, it enables seamless online transactions, mobile banking, and e-trading.

Originally an arm of Swiss Post, it provides various services, from savings and checking accounts to investments, mortgages, and digital solutions like the PostFinance App and the SmartSavings tool.

Bottom Line

PostFinance clients in Switzerland can invest in crypto through regulated exchanges like Kraken. This platform grants access to over 290 digital assets for spot and futures trading with leverage options up to 5x. Kraken enables euro deposits and offers staking, letting users earn up to 28% APY on 30 cryptocurrencies.

For a safe experience, investors should stick to trusted exchanges, stay mindful of any transaction fees, and review PostFinance’s guidelines on crypto transfers.