How to Buy Crypto with Swedbank

Can I Buy Bitcoin with Swedbank?

​​Yes, Swedbank customers can purchase Bitcoin by transferring funds to a regulated crypto exchange in Sweden. While the bank doesn’t directly offer crypto services, it does allow SEK transfers to exchanges that comply with Finansinspektionen regulations. However, the bank restricts transactions to unregulated platforms, ensuring compliance in the country.

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How to Buy Crypto with Swedbank

‍Swedbank account holders can purchase cryptocurrencies like Ethereum by using regulated exchanges such as Bybit, a platform that is globally regulated. Bybit accepts deposits in SEK through bank transfers, SEPA, credit cards, debit cards, Apple Pay, Google Pay and Revolut.

Below is a quick guide to buying crypto with Swedbank on Bybit:

1. Create an Account: Sign up on Bybit's website and complete the required verification process to secure your account.
2. Deposit SEK: Navigate to the 'Assets' section, select the deposit method, and transfer funds from your Swedbank account.
3. Select Crypto: Search for the digital asset you want to buy and ensure the appropriate currency is selected for your deposit.
4. Complete the Purchase: Enter the amount of crypto you want to purchase and confirm your transaction details.

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What are the Fees?

When buying crypto with Swedbank, most exchanges will charge fees for deposits, trades, and withdrawals. Trading fees fall between 1% and 2%, but platforms like Bybit offer competitive rates for Swedbank users. On Bybit, spot trading fees are 0.1%. For futures trading, the fees are 0.02% for makers to 0.055% for takers.

Depositing SEK through a bank transfer is often free, making Bybit an affordable choice for Swedbank customers entering the crypto space. Always check withdrawal fees, as they can vary depending on the cryptocurrency being transferred.

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Is Swedbank Crypto-Friendly?

Yes, Swedbank is supportive of cryptocurrency and supports transfers to regulated exchanges that comply with the Swedish Financial Supervisory Authority standards. Although the bank doesn’t offer direct crypto services, it supports transactions to compliant platforms.

Swedbank facilitates transactions to platforms, showing its recognition of the growing role of digital currencies. The bank adheres to evolving regulations like the EU's Markets in Crypto-Assets Regulation (MiCAR).

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About Swedbank

Swedbank, based in Stockholm, is a major player in the Nordic and Baltic banking scene. Founded in 1820, it offers a wide range of services, from everyday banking to loans and investments. It provides access to tools like the Swedbank Mobile Bank, Swedbank Robur funds, and Swedbank Pay.

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Bottom Line

In conclusion, while Swedbank doesn’t offer direct cryptocurrency services, it provides a simple way for customers to invest in crypto through regulated exchanges like Bybit. With free SEK deposits and competitive trading fees, Bybit makes it simple for Swedbank users to access a wide range of digital assets while adhering to Swedish regulatory standards.