How to buy crypto (Bitcoin) at Itaú Unibanco (2023)?
Do you want to buy Bitcoin, Ethereum and other crypto from Brazil’s biggest bank? It’s possible! Follow the steps in this short tutorial & you’ll be investing in crypto at Itáu Unibanco instantly!
How to buy crypto at Itaú Unibanco?
Step 1: open an account with a crypto exchange
Itaú Unibanco is considering offering cryptocurrency trading to its retail customers. However, at the time of writing, it is not yet possible for retail customers to buy Bitcoin. However, by linking your Itaú Unibanco bank account to a crypto exchange, you can buy crypto without any problems:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Itáu Unibanco after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: depositing money with Itaú Unibanco
After you have opened an account with the crypto exchange, you should go through the verification steps. Once your account is verified, you can immediately deposit funds from your Itaú Unibanco account to the crypto exchange. It is worth noting that it may take a few days before the money arrives in your crypto trading account.
Step 3: buy crypto with Itaú Unibanco
Within the trading platform, you can then buy crypto with your Itaú Unibanco funds without any problems. To achieve this, first navigate to the crypto you want to buy: for example, Bitcoin or Ethereum.
Within the order screen, you then enter the amount you would like to buy crypto for. This could be an amount of $10, $100 or $1000: whatever you want! After you send the order to the crypto exchange, it can take up to a few minutes for it to be processed.
If you want to sell the crypto at a later time, you can open a sell order in the same way. You can then have the money transferred back to your account without any issues.
Actively speculating in crypto
You can also choose to actively speculate in crypto with your Itaú Unibanco account. With some crypto brokers, you can open a short position: you then speculate on a falling crypto price. This option gives you more flexibility, as the crypto market is very volatile.
However, when you have little time or do not have a good understanding of how crypto works, active speculation is far too risky. You can apply the hodl strategy: with this strategy, you buy crypto to hold it for a long time. Bitcoin fanatics plan to hold crypto until the bitter end: they believe that one Bitcoin could be worth more than a million dollars in the future.
Will this ever happen? Nobody knows… Ultimately, the value of a Bitcoin comes about through the game of supply and demand. Therefore, the chances of Bitcoin becoming worth $1,000,000 are as high as the chances of Bitcoin becoming worth $0. Investing in crypto is therefore very risky: only invest with money you can afford to lose!
What is Itaú Unibanco’s policy stance on crypto?
Itaú Unibanco takes a positive view of crypto. From 2023, for instance, the bank will offer cryptocurrency custody services. The bank has also already stated that in the future, it wants to make it possible for retail customers to buy and sell crypto through the bank.
At the time of writing, it is not yet possible to trade crypto directly at Itaú Unibanco. Fortunately, until then, you can still buy crypto without any problems by opening an account at a reliable crypto exchange. Itaú Unibanco does not block accounts of customers trading in Bitcoin.
About Itaú Unibanco
Banco Itáu Unibanco S.A. is Brazil’s largest bank headquartered in Sao Pauo. The bank was created by a merger between Banco Itaú and Unibanco in 2008. The bank is not only the largest bank in Brazil, but also the largest bank in the world. As such, you can simply buy the bank’s shares on the New York Stock Exchange.
Itáu Unibanco operates in South America, but also in places like Luxembourg, Portugal, Switzerland, and the UK. With 33,000 branches and 45,000 ATMs, Itáu Unibanco is a major player & Brazil’s most valuable brand.
Can you buy Bitcoins at Itáu Unibanco?
Itáu Unibanco has announced that it will be possible to buy Bitcoin & other crypto in the future. Until then, you can still buy crypto from a crypto exchange without any problems. At the top of this article, you can immediately find a list of some reliable crypto exchanges that you can link to your account at Itáu Unibanco.