Buy Crypto with BBVA

Summary: Customers of BBVA can acquire digital currencies through Spain-regulated exchanges, using their BBVA cards or the SEPA system. The Bank of Spain ensures transaction security and customer protection. While BBVA does not directly handle crypto transactions, investments are secure and in compliance with the law.

For competitive fees and regulatory compliance, eToro is recommended. It allows instant Euro deposits from BBVA for trading over 3,000 assets at industry-leading rates.

Can You Buy Crypto with BBVA?

Yes, you can purchase cryptocurrencies using a BBVA account, debit card or credit card. If you're an investor, your first step is to sign up on a crypto exchange that is regulated in Spain and supports transfers from BBVA. Given that BBVA doesn't process crypto transactions directly, selecting a digital asset exchange regulated by the Bank of Spain ensures the security of your transactions and offers consumer protection.

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How to Buy Bitcoin or Crypto with BBVA

The most secure way to purchase Bitcoin and other digital currencies using a BBVA account is through a regulated external exchange. This allows users to safely deposit EUR from their BBVA account via the Single Euro Payments Area (SEPA), BBVA Net Cash, BBVA card, among other methods. Based on our analysis, we suggest eToro as it is compatible with BBVA, strictly adheres to regulations, and offers competitive transaction fees to trade 3,000+ assets.

Here's a concise step-by-step guide to acquiring crypto with a BBVA account on their platform:

1. Navigate to the eToro website and sign up, ensuring your identity is verified.
2. Click on the 'Deposit Funds' button, located on the lower left of your screen.
3. Choose EUR as your currency and your payment method (e.g., SEPA Transfer) and finalize your transfer from BBVA.
4. After completing the deposit, use the funds that have been credited to your account to buy crypto.

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What are the Fees?

The fees associated with investing in Bitcoin and other digital currencies using your BBVA online bank account will fluctuate based on the selected platform. Typically, the expenses investors should consider include deposit fees, withdrawal fees, spreads, and trading fees.

For BBVA account holders, we endorse eToro as a cost-effective choice. It provides free EUR deposits and trading without commission. The only expense when buying digital currencies on their platform is the spread, which stands at a reasonable 1%, and is more competitive than other well-known options like Bitpanda, Kraken or Coinbase, which imposes over 2%.

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Is BBVA Crypto-Friendly?

BBVA allows its customers to invest in cryptocurrencies through third-party exchanges regulated by the Bank of Spain. This permits customers to utilize Spain-based exchanges that comply with national regulations designed to combat financial crimes, such as money laundering and fraud. By opting for a regulated exchange, BBVA customers can be assured that their cryptocurrency investments are safeguarded and adhere to legal mandates.

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Bottom Line

In conclusion, BBVA account holders can indeed invest in cryptocurrencies such as Bitcoin by using regulated exchanges such as eToro. By opting for such platforms, customers can deposit funds securely from their BBVA account and enjoy competitive transaction fees. Though BBVA doesn't directly process crypto transactions, it supports customers to engage in crypto trading through third-party exchanges adhering to Spain's stringent financial regulations, ensuring secure, consumer-protected transactions. Always remember that while digital currencies offer exciting investment opportunities.