How to buy crypto at Banco de la Nación (2023)?
Investing in crypto is possible! Follow the steps in this article to buy Bitcoin, Ethereum & other crypto directly with your bank account at Banco de la Nación Argentina.
How to buy crypto at Banco de la Nación?
Step 1: register with a crypto exchange
A crypto exchange is a company that allows you to buy and sell crypto coins. It is not possible to buy crypto directly with your bank account at Banco de la Nación. By opening an account with a popular crypto exchange, you can immediately start trading Bitcoin:
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Step 2: deposit money from Banco de la Nación
Before you can deposit money from your account at Banco de la Nación, you must first verify your account. You can verify your account by uploading a copy of your passport and proof of address. The crypto exchange will then verify if the details match those you entered when you opened the account.
After your account is approved, you can deposit money from your Banco de la Nación account. In most cases, it is advantageous to deposit money directly instead of using a credit card. With a bank transfer, it can sometimes take several days for the money to arrive in your crypto account.
Step 3: buy crypto with Banco de la Nación
You are now 100% ready to open your first crypto with your bank account at Banco de la Nación. Select the cryptocurrency you want to buy and enter the amount you would like to invest.
When investing in crypto coins, it is wise to take the following into account:
- Type of cryptocurrency: hundreds of different altcoins exist. Carefully research whether the cryptocurrency you would like to invest in exists.
- Timing: is it a good time to buy the crypto coin in question? Getting in at an all-time high can always be risky given the high volatility of cryptocurrencies.
- Security: store your crypto coins in a safe place, such as an external wallet!
When you are certain that you want to buy the crypto coin, you can send the order to the crypto exchange. It may then take a few seconds to minutes before the transaction is actually carried out.
Many crypto investors lose money because they get scammed or fail to secure their accounts properly. Because crypto is decentralized, there is no party to bail you out when things go wrong. Therefore, spend enough time securing your crypto account when you start buying and selling crypto with your account at Banco de la Nación.
Banco de la Nación’s stance on crypto & about the bank
There is no problem buying crypto with your account at Banco de la Nación. In fact, Banco de la Nación does not block bank accounts of customers who buy crypto with an exchange. In Argentina, crypto is very popular because of high inflation. It would therefore be an unwise move by the bank to block transactions to crypto exchanges.
The Banco de la Nación is the national bank of Argentina and the largest in the country. Founded in 1891, the bank has a rich history. However, the bank did not always make positive headlines; in 1994, for instance, it was revealed that the bank was caught up in a bribery scandal by IBM. The bank’s headquarters can be found in San Nicolás, which is a popular neighbourhood in Buenos Aires.
Can you buy Bitcoin at Banco de la Nación?
It is not possible to invest in crypto at Banco de la Nación. Nor has the bank announced that they will offer crypto investments in the future. However, by linking your bank account to a reliable crypto exchange, you can buy Bitcoin, Ethereum, and other crypto coins without any problems. This can be an attractive option, especially in times of high inflation.