Summary: DEGIRO does not provide direct crypto asset exposure, only offering Crypto ETNs, which are costly and risky. Instead, UK and European investors should choose a licensed and regulated exchange like eToro, which offers over 3,000 assets including real cryptocurrencies, stocks, ETFs, commodities and more.
Can you buy Crypto with DEGIRO?
No, DEGIRO does not offer direct crypto investment. Instead, it provides access to cryptocurrencies via Exchange Traded Notes (ETNs) that mimic cryptocurrency prices. However, ETNs carry risks such as counterparty risk, where the ETN issuer may fail to meet its obligations, and imperfect tracking of cryptocurrency prices, which can result in varying returns.
What is the Best DEGIRO Crypto Alternative?
We recommend investors consider a licensed and regulated multi-asset exchange in Europe for real crypto asset trading. Our analysis suggests eToro as the top alternative to DEGIRO because it offers instant Euro (EUR) and other currency deposits to trade over 3,000 assets including cryptocurrencies with industry-leading fees. They are a secure, trustworthy, and regulated platform that is used by over 30 million investors.
Here is a simple guide to get started with their platform:
- Sign up for a free account on eToro and complete the onboarding procedure.
- Click the 'Deposit Funds' button located at the bottom left of your screen.
- Select the currency and your preferred payment method, then transfer funds from your bank account.
- Complete the deposit and utilize the search bar to acquire your chosen token.
What Crypto ETNs are Available on DEGIRO?
The DEGIRO platform currently offers over 50 crypto ETFs and ETNs on the platform which give investors exposure to Bitcoin, Ethereum and over 30 different altcoins like Cardano, Polkadot, Solana and many others. One of the very few benefits of Crypto ETNs on DEGIRO is that they are relatively cheap to trade and cost just €2.50 per transaction.
Is DEGIRO Good for Crypto?
DEGIRO is not ideal for crypto investments, as it does not offer direct exposure to cryptocurrencies. It only allows access to crypto assets through Exchange Traded Notes (ETNs), which can be riskier and less accurate in tracking the underlying cryptocurrency prices. It is recommended to use a dedicated crypto exchange instead.
In conclusion, DEGIRO falls short for crypto investments due to its lack of direct exposure to cryptocurrencies and reliance on Crypto ETNs, which are riskier and less accurate in tracking crypto prices. For UK and European investors seeking a better alternative, eToro stands out as a licensed, regulated, and secure platform that offers over 3,000 assets, including real cryptocurrencies, stocks, ETFs, and commodities. With more than 30 million users, eToro provides a user-friendly experience, instant deposits in various currencies, and industry-leading fees.