How to buy crypto (Bitcoin) at Banco Popular?
Do you want to buy crypto with your bank account at Banco Popular? By following the 5 steps in this article, you will be buying your first Bitcoin with your bank account at Banco Popular in no time.
How to buy crypto at Banco Popular?
Step 1: sign up with a crypto exchange
You cannot directly invest in crypto yourself at Banco Popular. It is therefore advisable to open an account with a crypto exchange first. Opening an account normally only takes a few minutes:
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Step 2: verify your account
After you have opened an account, you need to verify it first. You verify your account by uploading at least a copy of your passport and proof of address. Often, you also have to answer some questions about your financial situation & trading plans.
Step 3: deposit money from Banco Popular
The next step is to deposit money from your Banco Popular account. It is worth noting that it may take several working days for the money to appear in your account. You can only deposit money into your crypto account with a bank account that is in your name.
Step 4: buy crypto with Banco Popular
Now select the crypto you want to buy within the trading platform and enter the amount you would like to invest. By pressing the buy button, you send the order directly to the crypto exchange. It can then take up to several minutes for your order to be executed.
Step 5: evaluate your investment
It is then wise to regularly evaluate your investment. Ask yourself if the crypto investment still fits within your portfolio. If it does not, you can sell the crypto again and return the money to your bank account.
It may be smart to send your crypto to an external wallet. An external wallet is a decentralized method by which you can store your crypto. This prevents you from losing your crypto credit if the exchange unexpectedly goes bankrupt.
Banco Popular’s stance on crypto
Banco Popular has not published a crypto policy on its website. In my experience, you shouldn’t encounter any problems with crypto investments at Banco Popular. As long as you choose a reliable crypto exchange, they won’t simply block your bank account.
About Banco Popular
Banco Popular operates in the Americas, Puerto Rico and the Caribbean islands. The bank started in Puerto Rico and has been operating there for more than 125 countries. Banco Popular’s headquarters can be found in Hao Rey, San Juan. With over $75 billion in assets and more than 8,000 employees, the bank is no small player.
Can you buy Bitcoin at Banco Popular?
You can buy Bitcoin from Banco Popular without any issues. However, you don’t buy crypto directly from the bank itself. Instead, you link your bank account at Banco Popular to an external crypto exchange. The crypto exchange then exchanges your fiat for the crypto of your choice. At the top of this article, you can read how to buy your first crypto within 5 steps. It is important to consider the risks, as they are significant.