How to buy crypto (Bitcoin) with Banca Transilvania?
More and more people ask me if it is possible to buy Bitcoin & other crypto at Banca Transilvania. Unfortunately, it is not yet possible to buy Bitcoin directly with your account at Banca Transilvania, but by following the steps in this article, you can still invest in crypto.
How to buy crypto at Banca Transilvania?
Step 1: open an account with a crypto exchange
Before you can buy crypto with your bank account with Banca Transilvania, you first need an account with a crypto exchange. In the overview below, you can see which parties you can join:
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Step 2: deposit money from your Banca Transilvania account
The next step is to deposit money into your crypto exchange account. It is important to go through the verification steps first: that way, you can take advantage of all trading opportunities.
To verify your account, upload a copy of your passport and proof of address within the trading software. After your documents are approved, you can start trading crypto right away.
Step 3: buy crypto with your Banca Transilvania account
You can now immediately start buying & selling crypto with your Banca Transilvania account. To open a trading position, navigate within the platform to the cryptocurrency you want to buy. In this example, I will open an order for buying Bitcoin.
Within the order screen, you then directly enter the amount you would like to invest. Bitcoin (and other crypto) are divisible, allowing you to invest even with a small amount. It is also possible to set a value at which you automatically sell the crypto again: this is also called a stop loss or take profit.
Press the buy button to send the order directly to the crypto exchange. Within seconds to minutes, the crypto will be purchased for you.
How much will Bitcoin be worth?
Most people buy Bitcoin with their Banca Transilvania account because they hope the value will rise sharply in the future. In 2022, you saw many influencers giving crypto a lot of attention and promising that the price would soon hit the $100,000 mark. This backfired: in 2023, the price is more than 80% lower, and this proves that the future price of crypto is hard to predict.
It is therefore difficult to predict how much Bitcoin will become worth in the future. Critics say Bitcoin is worthless, while true believers believe Bitcoin could become worth more than a million dollars. In any case, the uncertainty is huge: therefore only use money you can afford to lose when buying Bitcoin & other crypto.
What is Banca Transilvania’s stance on crypto?
Banca Transilvania is not negative about crypto, but it has not published a clear policy either. If you open an account with a reliable crypto exchange, you are unlikely to experience any problems trading Bitcoin with this bank.
About Banca Transilvania
Banca Transilvania S.A. headquartered in Napoca, Romania, was founded in 1993. Banca Transilvania is Romania’s largest bank and has over 1.75 million customers across 550 locations. The bank also recently opened a branch in Rome; could the bank manage to break through internationally in the future?
Buy crypto safely at Banca Transilvania
- External wallet: by sending your crypto to an external wallet, you eliminate the counterparty risk.
- Security: use strong passwords and don’t tell acquaintances about your investments.
- Research: spend enough time researching crypto to avoid crypto scams.
Can you buy Bitcoin at Banca Transilvania?
It is not possible to buy Bitcoin, Ethereum or other crypto with your bank account at Banca Transilvania. However, by following the steps in this article, you can still make your first crypto investment without any problems. Always do your research; that way, you can avoid a crypto disaster.