How to buy crypto (Bitcoin) at Intesa Sanpaolo?
Investing in cryptocurrencies like Bitcoin is popular these days. By following the steps in this article, you too can invest in crypto in no time using your bank account at Intesa Sanpaolo.
How to buy crypto at Intesa Sanpaolo?
Step 1: open an account with a crypto exchange
You cannot buy crypto directly with your bank account at Intesa Sanpaolo. However, by opening an account with a crypto exchange, you can buy Bitcoin with your Intesa Sanpaolo account without any problems. In the overview below, you can immediately see which crypto exchanges you can join:
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It can be wise to test different crypto exchanges: that way, you will discover which company suits you best.
Step 2: deposit money from Intesa Sanpaolo
Before you can buy crypto with your bank account at Intesa Sanpaolo, you must first send your fund to your crypto exchange. Within Europe, crypto exchanges always need to establish the identity of their customers first. You can verify your identity by:
- Uploading a copy of your passport
- Uploading a proof address
- Answering questions about your experience with investing
- Answering questions about your financial situation
After completing these steps, you can deposit money from your account at Intesa Sanpaolo. Keep in mind that it can sometimes take several working days for the money to arrive. Furthermore, It is important that your bank account and crypto exchange account are in the same name.
Step 3: buy crypto with Intesa Sanpaolo
After your account is verified, you can immediately buy crypto using your bank account with Intesa Sanpao. Select the crypto you want to buy within the platform and enter the amount you would like to invest. You can additionally use an order if necessary:
- Limit order: the order only opens at a set price.
- Take profit: the trading position closes at a certain profit.
- Stop loss: the trading position closes at a certain loss.
After the order is sent to the crypto exchange, it may take a few seconds to minutes for it to be executed. Occasionally, the price at which you buy the crypto may be higher or lower: this happens because the market is constantly moving.
How does Intesa Sanpaolo feel about crypto?
Intesa Sanpaolo is interested in blockchain technology and has been exploring crypto opportunities since 2014. Within Italy, the bank trusts the Spunta Project, which allows changes to be made to the account of multiple Italian banks.
In another project, the bank is working with the blockchain to record transactions. With a public record, transactions can be verified later and become more transparent.
Despite the bank itself being interested in blockchain technology, as an Intesa Sanpaolo customer, you cannot yet invest in crypto yourself. However, by linking your bank account to a reliable crypto exchange, you can still invest in your favourite crypto without any problems.
About Intesa Sanpaolo
Intesa Sanpaolo is an Italian international bank. Looking at its assets, Intesa Sanpaolo is Italy’s largest bank, with over $1 trillion in assets. The bank has over 15 million customers in Italy and 7 million customers in Eastern and Central Europe, The Middle East and Africa.
Intese Sanpaolo operates in other countries under the brand names CIB Bank, VUB Banka and Bank of Alexandria. The bank is part of the Euro Stoxx 50 stock market index, which makes it one of the largest companies in Europe.
Intesa Sanpaolo’s headquarters can be found in Turin. This bank has been around for 16 years after several banks merged together to form Intesa Sanpaolo. However, the bank’s origins date all the way back to 1583 under the name Istituto Bancario San Paolo di Torino which makes it one of the oldest in the world. Major shareholders of the bank are the Compagnia di San Paolo, Fondazione Cairplo and US-based BlackRock.
Can you buy Bitcoin at Intesa Sanpaolo?
It is not possible to buy Bitcoin & other crypto at Intesa Sanpaolo. However, the bank does not block transactions to crypto exchanges, so you can still buy and sell Bitcoin with the funds in your bank account without any problems. By following the steps in this article, you can start trading crypto without any issues. Be sure to do your research, as crypto investments are not without risks!