Can you Buy Crypto with Swish?
Yes, you can buy cryptocurrencies using Swish in Sweden. To do this, transfer Swedish Krona (SEK) from your Swish account to a regulated crypto exchange operating in the country. This can be done through a bank transfer, debit card, credit card, or other accepted payment options like instant transfers.
Keep in mind, Swish itself doesn't provide direct digital currency trading services. To that end, it is essential to select a Swedish Financial Supervisory Authority-licensed exchange that adheres to Swedish regulations.
How to Buy Bitcoin and Crypto with Swish
The safest and easiest way to buy cryptocurrencies utilizing Swish is through a regulated exchange. Following a comprehensive review of top brokers in Europe, we recommend Binance as the optimal platform for Swish users. It offers immediate deposits in various currencies via Swish bank transfer, SEPA transfer, credit cards and more.
Here's a brief guide to purchasing crypto with a Swish Mobile BankID on Binance:
- Sign up to Binance and verify your account.
- Select the 'Buy Crypto' option to deposit funds.
- Select Swedish Krona (SEK) as your currency and Swish Mobile BankID as your deposit method.
- Find the crypto asset you want to buy on the Binance platform and execute your trade.
What are the Fees?
The costs to invest in crypto assets using your Swish-linked account will vary depending on the chosen platform. Fortunately for investors, Binance provides free Swedish Krona (SEK) transfers from Swish and imposes low fees beginning at 0.1% to trade more than 350 crypto assets. This pricing is significantly more economical compared to other options like Coinbase or eToro, where spreads and fees surpass 2%.
Is Swish Crypto-Friendly?
Swish is a crypto-friendly payment system in Sweden that supports its users' interest in cryptocurrency investments. It allows customers to deposit and withdraw funds from regulated cryptocurrency exchanges operating within the region.
While Swish doesn't offer direct crypto services, it recognizes the importance of providing access to licensed exchanges. This ensures that users have a secure way to invest in cryptocurrencies while complying with regulatory requirements.
In conclusion, despite not directly supporting cryptocurrency transactions, Swish does facilitate its users to invest in digital currencies through Financial Supervisory Authority-certified exchanges like Binance. Binance, with its fee-free SEK transfers, competitive rates, and broad selection of 350+ crypto assets, stands out as the top choice for Swish users.
While costs may vary across platforms, the economics of using Binance are significantly more advantageous compared to alternatives. Despite not offering direct crypto services, Swish is a crypto-friendly payment platform, underlining the significance of secure and regulated crypto investing within Sweden.