How to buy crypto with BBVA bank (2023) – Bitcoin & more!
Are you thinking about investing in crypto with BBVA bank? Follow the steps in this article to buy Bitcoin and other crypto directly with your account at Banco Bilbao Vizcaya Argentaria.
How to buy crypto at BBVA?
Step 1: open an account with a crypto exchange
It is not yet possible to buy crypto directly with your account at BBVA. However, by linking your bank account to a crypto exchange, you can still buy your favourite crypto without any problems. In the overview below, you can directly see at which crypto exchanges you can buy and sell Bitcoin:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with BBVA bank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: verify your account
Before you can start trading Bitcoin, you must first verify your account. Crypto exchanges have to abide by several rules; one requirement is that they have to verify the identity of customers. By uploading a copy of your passport and address, the bank can verify that you are who you say you are.
Step 3: deposit money from BBVA
After your account is verified, you can directly deposit money from your BBVA account on the crypto exchange. You can do this with your credit card, but you will often pay higher transaction fees. Transferring money from your BBVA account to the crypto exchange is completely free in most cases.
Step 4: buy crypto with Banco Bilbao Vizcaya Argentaria
After the money arrives in your crypto account (this can take a few working days), you can immediately start buying crypto. Within the platform, you can select the crypto you want to invest in. By pressing buy, you can open the order screen.
Within the order screen, you enter the amount you would like to invest. There is also the option to open an order; this way, you have more control over your investments. When you are satisfied with your investment, you can send your order to the crypto exchange.
It is wise to regularly evaluate your crypto investment. When you want to sell the crypto, you can do so again by placing an order. You can then have the money in your crypto account transferred to your account at BBVA.
How much does investing in crypto with BBVA cost?
Transaction costs differ between parties. It therefore definitely pays to compare different crypto exchanges. On average, transaction costs are between 0.25% and 1%. With some crypto exchanges, you also pay money for depositing and withdrawing money. By carefully reading the terms and conditions, you will avoid any nasty surprises.
Costs have a big impact on the final return. Due to the principle of compound interest, even small cost differences can save thousands to tens of thousands of dollars over a 30-year period.
What is BBVA’s stance on crypto?
BBVA has a positive crypto policy. The bank’s Swiss branch offers both Bitcoin and Ehtereum. In this way, the bank is trying to compete with eToro: in the future, it will probably be possible to trade a wide range of shares and crypto at this bank.
Until then, you can fortunately invest in crypto without any problems at BBVA. This is because the bank does not block customer accounts when crypto transactions are carried out.
Mind the risks!
Always keep in mind the risks of crypto investments when buying Bitcoin or other crypto from BBVA. Many crypto scams exist and scammers are always lurking. Moreover, by sending your crypto to an external wallet, you avoid losing money if the crypto exchange you use unexpectedly goes bankrupt.
Buying crypto in South America
BBVA is a large Spanish bank with large representation in South America as well. You can therefore buy crypto at all BBVA branches:
- Buy BBVA Francés crypto: You can also buy Bitcoin from BBVA Francés, which is the name of the bank in Argentina, by following the steps in this article.
- BBVA Colombia crypto buying: the bank is also a big player in Colombia. Buying Bitcoin & Ethereum in Colombia can be done without any problems with BBVA.
- BBVA Mexico Bitcoin buying: BBVA is also a big player in Mexico. You can buy crypto from BBVA Mexico with your bank account without any issues.
BBVA or in full Banco Bilbao Vizcaya Argentaria, S.A. is a Spanish multinational bank headquartered in Bilbao, Spain. The bank is one of the largest in the world and operates in Spain, South America, North America, Turkey and Romania, among other countries. You can buy BBVA’s shares on the Madrid, New York or Mexico stock exchanges.
With over €650 billion in assets, it is Spain’s third-largest bank. The bank has nearly 8,000 branches and more than 125,000 employees across 30 countries. BBVA is therefore a big player that cannot be ignored.
BBVA Francés is the Argentine branch of BBVA. It manages over $8 billion in assets for its customers and is the sixth-largest bank in the country. The bank’s headquarters is located in the Consultatio Tower.
BBVA has also been operating in Colombia since 1956. It is possible to buy Bitcoin from BBVA Colombia without any problems. The COP can be very volatile: this is why more and more Colombians are choosing to convert some of their money to crypto. Do keep in mind the risks of crypto investments at BBVA Colombia.
BBVA Mexico is the largest financial company in the country and has been around since 1932. Its largest shareholder is BBVA, which makes BBVA Mexico a subsidiary. The bank holds about 20% of the market and has 11 million customers in Mexico. If you have an account with BBVA Mexico, you can buy Bitcoin and other crypto without any issues.
Can you buy Bitcoin from BBVA?
BBVA is slowly rolling out Bitcoin as an investment. However, you have little choice at BBVA; you can only invest in Bitcoin and Ethereum there. By linking your BBVA account to a reliable crypto exchange, you can also invest in other altcoins. At the top of the article, you can immediately see an overview of crypto exchanges that you can join.