How to buy crypto at DSK Direct Bank?
Unfortunately, at the time of writing, it is not yet possible to buy Bitcoin, Ethereum and other crypto with your bank account at DSK Direct Bank. However, by linking your bank account to a reliable crypto exchange, you can still buy Bitcoin without any problems.
How to buy crypto with DSK Direct Bank?
Step 1: open an account with a crypto exchange
A crypto exchange allows you to buy & sell popular cryptocurrencies such as Bitcoin. In the overview below, you can immediately see which parties you can go to:
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It may be wise to use multiple crypto exchanges. Crypto exchanges can go bankrupt and you may lose your funds. Of course, you can also choose to send your crypto to an external wallet.
Step 2: deposit money from DSK Direct Bank
You can deposit funds directly from your DSK Direct Bank account to your crypto exchange account. For foreign transactions in particular, it can sometimes take several working days for the money to arrive. Also, crypto exchanges sometimes charge extra fees for currency exchange.
Step 3: buy crypto with DSK Direct Bank
Navigate within the platform of the crypto exchange to the cryptocurrency you want to buy. In this example, I am buying Bitcoin with my account at the crypto exchange.
Within the order screen, you can enter the amount you want to invest. Bitcoin and other crypto are divisible, allowing you to invest even with little money. Then press the buy button to buy the crypto directly on the crypto exchange. It may take a few seconds to minutes for the order to be fully processed.
How to buy Bitcoin safely with DSK Direct Bank?
Security is still a big issue when it comes to crypto investing. Take the following precautions to reduce the likelihood of running into trouble:
- Security: choose a strong password and use 2FA. That way, strangers won’t be able to access your account.
- External wallet: by storing your crypto on an external wallet, you maintain full control over your crypto investments.
- Research: compare different cryptocurrencies and research what they stand for to avoid problems.
About DSK Direct Bank
DSK Direct Bank is a large Bulgarian bank owned by OTP Bank since 2003. The bank’s headquarters can be found in Sofia, Bulgaria’s capital city. DSK stands for state savings bank. DSK Direct Bank is working with Amsterdam-based Backbase to improve its business model using AI.
DSK Direct Bank’s stance on crypto
DSK Direct Bank has no problems with crypto. As a customer, you can therefore buy & sell Bitcoin and other crypto without any problems. However, it is wise to choose a reliable crypto exchange, that way you avoid the bank from blocking your account because of suspicious transactions.
Can you buy Bitcoin from DSK Direct Bank?
Yes and no. You cannot buy Bitcoin & other crypto directly from DSK Direct Bank, as the bank itself does not offer crypto products. However, you can buy Bitcoin without any problems by linking your DSK Direct Bank account to a reliable crypto exchange. At the beginning of this article, you can find which crypto exchanges you can go to for trading crypto.
Over Alex Mostert
Already in 2015 I bought my first Bitcoins for roughly $300, only to sell them shortly after for $900. At the time I thought I benefited from the deal of the century, but I, of course, had no idea Bitcoin would become as popular as it is today. On this website, I want to teach everybody how to buy Bitcoin through their bank.