How to Buy Crypto with Swissquote

How to Buy Crypto with Swissquote

Explore the pros and cons of using Swissquote for your cryptocurrency investments. Learn about its fee structure and how it compares to other platforms.

Summary: Swissquote, a Switzerland-based online banking and financial services provider offers a range of trading and investment options but comes with a tiered fee structure that can go up to 1% depending on the transaction amount. Additionally, they charge a 20% fee on staking rewards, making it a costly option for those interested in staking their cryptocurrencies.

We recommend Kraken as a more budget-friendly and feature-rich alternative. Kraken not only boasts lower trading fees averaging at 0.2%, but it also offers a wider selection of over 200 cryptocurrencies and superior staking options. When considering a platform for crypto investment, it's vital to consider fees, various assets, and additional features like staking.

Top Alternative to Swissquote
5.0 out of 5.0 by Datawallet
Kraken stands out as the best alternative to Swissquote due to its lower average trading fees of 0.2%, a wide selection of over 200 cryptocurrencies, and more favorable staking options for investors.
CySEC, The FCA, ASIC and other Tier-1 Regulators.
Available Assets
200+ Cryptocurrencies and Stablecoins.
Deposit Methods
SEPA, Bank Transfer, SIC, Credit Card and more.

Content Guide

Can I Buy Crypto with Swissquote? 

Yes, Swissquote provides a specialized platform designed to enable users to trade an array of cryptocurrencies, featuring popular choices like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and 32 additional digital assets. That being said, it's crucial to understand the high-cost structure associated with using Swissquote. 

The platform levies a 1% transaction fee and another 1% embedded in the spread, making it comparatively expensive for trading. Additionally, if you're interested in staking, Swissquote takes a 20% fee on staking rewards.

How to Buy Crypto with a Swissquote Alternative

If you're looking to invest in cryptocurrencies and are seeking an alternative to Swissquote, Kraken stands out as a strong contender. Not only is it fully regulated, but it also enables quick deposits in various fiat currencies like CHF. Additionally, Kraken offers an impressive portfolio of over 200 cryptocurrencies for you to trade. Moreover, Kraken's average fee of 0.2% is a substantial saving over many other platforms. Special features like staking options and margin trading are also available for investors.

Here's a quick guide to getting started on Kraken:

  1. Create an Account: Visit the Kraken website and verify your identity.
  2. Make a Deposit: Navigate to the funding section, located at the top of your user dashboard. Choose your currency, and follow the prompts to add funds to your account.
  3. Select Your Crypto: Once your account is funded, proceed to the trading interface. Here, you'll find a wide range of cryptocurrencies to invest in.
  4. Complete Your Purchase: Decide on the amount and cryptocurrency you wish to buy, double-check all the details, and finalize your transaction.

What are the Fees?

Swissquote has a fee structure starts at 1% for cryptocurrency transactions and decreases to as low as 0.5% for larger transactions. They offer tax-free trading and have no stamp or stock exchange tax. When it comes to staking, the broker charges a 20% fee on staking rewards for selected cryptocurrencies. The platform also implements quarterly custody fees based on your total asset value.

If you're looking for an alternative with lower fees, Kraken could be a suitable option. They offer an average trading fee of 0.2% and a wider range of cryptocurrencies. Their staking options also come with more competitive rates, providing potentially higher returns on your investments.

Is Swissquote Good for Crypto Investing?

Swissquote offers a comprehensive platform but isn't necessarily the best crypto exchange in Switzerland for capital-efficient investing. The fees begin at 1% and scale down for larger transaction amounts, but they can still be on the high side for active traders.

Additionally, Swissquote's 20% fee on staking rewards may deter those looking to maximize returns through staking. While Swissquote offers a robust and secure trading environment, there are other platforms with more assets, lower fees and more favorable staking conditions for cryptocurrency investors.

Swissquote Crypto

About Swissquote

Swissquote is a Switzerland-based online banking and financial services platform that aims to democratize finance by offering a myriad of trading, investment, and saving solutions. With its multi-currency and crypto-friendly account options, Swissquote allows users to trade in traditional and digital assets while enjoying features like cashback and support for various digital payment systems.

Bottom Line

In summary, while Swissquote offers a secure and diverse trading environment, its high fees make it a less appealing option for cryptocurrency investors, especially those interested in staking. Kraken emerges as a more budget-friendly alternative, offering lower average trading fees of 0.2% and a broader range of over 200 cryptocurrencies. When investing in crypto, considering fee structures and additional features like staking can make a significant difference in your overall returns.

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