Buying Crypto & Bitcoin at BPCE – comprehensive guide
Do you want to buy Bitcoin with your bank account at Groupe BPCE Bank? Follow the steps in this comprehensive guide to buy crypto directly with your bank account at BPCE.
How to buy crypto at BPCE?
Step 1: sign up with a crypto exchange
Crypto exchanges are companies that allow you to trade Bitcoin & other crypto. Before you can buy Bitcoin using your bank account with BPCE, you first need an account with a crypto exchange:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with BPCE after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: deposit money from BPCE
The next step is to deposit money from your bank account with BPCE. It can take several working days for the money to arrive in your account. Furthermore, It is important that your bank account is in the same name as your crypto account. Don’t forget to go through the activation steps of your crypto account before depositing money.
Step 3: buy crypto with BPCE
After the money arrives in your crypto account, you can immediately buy your first crypto. For novice investors, it can sometimes be a bit overwhelming, as you can buy hundreds of different cryptocurrencies. Bitcoin is the most popular, but you can also invest in hundreds of other cryptocurrencies.
When you are sure which crypto you want to buy, you can place an order. Within the order screen, you then enter the amount you would like to invest. Alternatively, you can use an order; that way, you can open and close trading positions automatically.
Who invests in crypto?
BPCE has written a comprehensive analysis of the people investing in crypto. They indicate that there are two types of crypto investors; the private investors with €50 and the larger investors with €100,000 or more. The first group is declining in size, while the number of large investors is increasing.
Within Europe, you can see that Germany and Switzerland are the biggest crypto centres. However, the majority of crypto transactions take place outside of Europe: examples are China and Colombia. Crypto can therefore be used to circumvent capital restrictions.
When the number of investors increases, it can boost the crypto price. Supply and demand ultimately determine the price of a Bitcoin.
What is BPCE’s stance on crypto
BPCE generally has a friendly crypto policy; you can invest in popular cryptocurrencies as a customer of the bank without any problems. The bank does not block transactions to crypto exchanges (unless your transaction is flagged as suspicious).
About Groupe BPCE Bank
Groupe BPCE (or in full Banque Populaire Caisse d’Epargne) is a large French bank created in 2009 by the merger of Groupe Caisse d’Épargne and Groupe Banque Populaire. It is one of the largest banks in France & Europe, with over 150 million customers worldwide. As such, it has been designated as a systematically important bank by the Financial Stability Board.
The bank was founded in 1818 with the creation of the Paris savings bank. Over the years, the bank has merged several times, expanding into a giant institution with more than €1 700 billion in assets.
Can you buy Bitcoin from BPCE?
It is not possible to buy Bitcoin or other crypto at Groupe BPCE Bank. Despite this restriction, there are clever workarounds that allow you to invest in crypto. Namely, you can link your bank account with BPCE to a crypto exchange and buy Bitcoin without restrictions. Right at the beginning of this article, you can read in detail how to invest in crypto with BPCE.