How to buy crypto at BancoEstado? Bitcoin & Ethereum?
Do you want to buy crypto with your bank account at BancoEstado? Follow the steps in this article to buy Bitcoin, Ethereum and other cryptocurrencies with your BancoEstado bank account!
How to buy crypto at BancoEstado?
Step 1: open an account with a crypto exchange
It is not possible to buy crypto yourself at BancoEstado. However, by linking your bank account to a reliable crypto exchange, you can still use the funds in your account for crypto investments without any problems:
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Step 2: verify account & deposit money
Before you can deposit money from your BancoEstado account, you must first verify your account. You verify your account by uploading a copy of your passport and proof of address. After your account is verified, you can deposit money directly from your bank account at BancoEstado
Step 3: buy crypto with BancoEstado
Most crypto platforms allow you to trade in hundreds of different cryptocurrencies. First, research which crypto you would like to invest in. It is important that the team behind the crypto is reliable and that they have a clear plan for the future.
When you are sure which crypto you want to buy, you can place an order. First, enter the amount you would like to invest and press the buy button to place the order on the crypto exchange. It may then take a few seconds to minutes for the order to be executed.
You can sell your crypto again at any time and have your money transferred to BancoEstado. More and more investors are choosing to use an external wallet; that way, the crypto exchange cannot ‘steal’ your funds when they go bankrupt.
What is BancoEstado’s stance on crypto?
BancoEstado is not extremely positive towards crypto: for instance, they closed the bank account of a major crypto exchange. If you want to invest in crypto with your BancoEstado account, it is therefore important to pick a reliable party. That way, you can avoid BancoEstado blocking your bank account.
Banco del Estado de Chile or BancoEstado for short is the only public bank in Chile and was opened in 1953. The bank offers various financial services and focuses mainly on the national market. BancoEstado issues most loans and debit cards in Chile, and is also responsible for much of the government’s finances. BancoEstado is one of Chile’s largest banks, with a total of more than 400 branches. The bank has a good reputation and was named the safest bank in Latin America in 2012.
Can you buy Bitcoin at BancoEstado?
It is not possible to buy Bitcoin & other crypto directly from BancoEstado. I also don’t expect BancoEstado to offer crypto anytime soon: the bank recently closed the account of a crypto exchange, which is not a positive sign. However, by linking your bank account at BancoEstado to a reliable crypto exchange, you can still invest in Bitcoin with your balances at the bank. Always conduct proper research though: crypto are very risky after all!