Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Summary: Satispay does not enable direct cryptocurrency trading through its mobile app. Instead, users can venture into digital asset investing by transferring Euros (EUR) from their accounts to a third-party exchange recognized and regulated by Italian financial authorities like the Bank of Italy and the Italian Securities and Exchange Commission (CONSOB).
Our analysis underscores eToro as the prime choice for Satispay users. In alignment with Italian regulatory standards, eToro provides a secure avenue for efficient EUR transfers from Satispay and other Italian financial institutions. Within the platform, users can explore a wide selection of over 3,000 crypto assets, stocks, ETFs, and other investment opportunities.
Can I Buy Crypto with Satispay?
Yes, you can purchase Bitcoin, Ethereum, stablecoins, and a range of other digital currencies using Satispay. Customers interested in acquiring crypto assets can link Satispay with cryptocurrency exchanges in Italy that accept transactions in EUR. Though Satispay itself does not conduct cryptocurrency transactions directly, it serves as an accessible payment platform that connects with third-party exchanges, simplifying the buying process through seamless bank transfers or other established payment methods.
How to Buy Bitcoin and Crypto with Satispay
The safest way to purchase Bitcoin and other cryptocurrencies using Satispay is through a regulated exchange. Satispay can be used to securely deposit EUR from your linked bank account or card. We recommend eToro due to its smooth integration with Satispay, allowing for instant EUR deposits. In compliance with the regulations established by relevant European financial authorities, eToro offers a vast selection of over 3,000 assets and competitive trading fees.
Here's a step-by-step guide to buying crypto using eToro:
- Create an account on eToro and verify your identity.
- Click on the 'Deposit Funds' option, found at the bottom left of the interface.
- Select 'EUR' and Satispay as your preferred payment method, then transfer funds using Satispay.
- After depositing, use the search bar to locate and buy your chosen cryptocurrency.
What are the Fees?
The fees to buy Bitcoin, Ethereum and other crypto assets with Satispay will vary depending on the digital asset exchange you choose. Some of the key fees to consider are deposits fees, trading fees, spreads and fiat withdrawal fees.
Based on our analysis, eToro offers a low-fee option for Satispay users with low-fee EUR deposits and commission-free trading (not including the 1% spread and fiat conversion fees). When buying cryptocurrencies on eToro using Satispay, the main expense is a 1% spread. This is more advantageous than other platforms like Coinbase, which charges 2% spreads and a 1% trading fee.
Is Satispay Crypto-Friendly?
Satispay facilitates its users in interacting with digital assets like Bitcoin, Ethereum, Tether (USDT), Polygon, and other cryptocurrencies, through exchanges that are regulated by Italian financial authorities such as the Bank of Italy and the Italian Securities and Exchange Commission (CONSOB),or equivalent European authorities. Interested parties can verify the status of an exchange's license by consulting the official websites or databases maintained by these regulatory bodies.
Satispay's policy underscores a commitment to offering a secure environment for engaging with digital assets, adhering to Italian and international regulations to prevent money laundering and fraudulent activities. By selecting a regulated exchange, such as eToro, Satispay users can have confidence that their investments in cryptocurrencies are not only secure but also align with local laws and Satispay's focus on transparent and responsible financial conduct.
Satispay is a financial technology company headquartered in Milan, Italy. Established in 2013, it offers an innovative mobile payment system that enables users to make purchases, transfer money, and perform other financial transactions using smartphones. By creating a direct link between the user's bank account and the mobile application, Satispay eliminates the need for credit or debit cards, making the process more streamlined and user-friendly.
In conclusion, venturing into the world of cryptocurrency is seamless with Satispay, despite the app not supporting direct crypto transactions. Users can easily transfer EUR from Satispay to recognized exchanges like eToro, a highly recommended platform due to its compliance with Italian financial regulatory standards and offering a vast range of assets at competitive fees.
eToro's integration with Satispay allows for swift EUR deposits, fostering a secure and user-friendly investment experience. Furthermore, Satispay promotes responsible and transparent financial dealings, encouraging users to engage with digital assets through exchanges accredited by prominent Italian financial entities, ensuring a safe and compliant investment environment.