How to buy crypto (Bitcoin) with OTP Bank?
Do you want to buy Bitcoin & other crypto with your bank account at OTP Bank? By following the steps in this article, you’ll be investing in your favourite crypto with your OTP bank account in no time.
How to buy crypto at OTP Bank?
Step 1: open an account with a crypto exchange
A crypto exchange is a company that allows you to invest in crypto directly through your bank account. Open an account with a crypto exchange of your choice:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with OTP bank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: verify account
At some crypto exchanges, you can already try out the possibilities for free with a demo. However, before you can invest with real money, you must first verify your account. You do this at most crypto exchanges by uploading a copy of your passport and address. You also have to answer some questions about your investment experience and plans.
Step 3: deposit money from OTP Bank
You can now deposit money directly from your OTP bank account to your account at the crypto exchange. It is worth noting that it may take a few days for the money to appear in your account. You can only transfer funds from bank accounts held in your name.
Step 4: buy crypto with OTP Bank
Within the trading platform, select the crypto you want to buy: this can for example be, Bitcoin or Ethereum. Within the order screen, you can then enter the amount you would like to invest. By pressing the buy button, you send the order to the crypto exchange.
It is also possible to use a limit order: you then open the position only at a set price.This allows you to exercise more control over your investments.
Step 5: evaluate your investments
It is advisable to review your investments regularly. You can sell the crypto again at any time and transfer the money back to your account at OTP Bank.
It may also be wise to send your crypto to an external wallet. Hackers lurk: you obviously want to prevent them from stealing your assets!
Tip: pay attention to costs!
It is advisable to pay close attention to the transaction fees when you would like to invest in crypto via OTP Bank Nyrt. This is because crypto exchanges decide which fees they charge on each transaction. By choosing an advantageous party, you can achieve higher returns.
About OTP Bank
OTP Bank is Hungary’s largest bank and one of the largest providers of financial products in Central and Eastern Europe. Examples of services they offer include insurance, leasing, pension funds and asset management. The bank currently operates in Albania, Bulgaria, Croatia, Hungary, Moldova, Montenegro, Romania, Russia, Serbia, Slovenia and Ukraine.
The bank was originally established in 1949 as a state-owned savings bank. Today, the bank is owned by private investors, with about 70% freely tradable on the stock exchange.
Can you buy Bitcoin from OTP Bank?
Unfortunately, you cannot buy Bitcoin & other crypto at OTP Bank. However, by linking your bank account to a reliable crypto exchange, you can still invest in Bitcoin without any problems. By following the steps at the beginning of this article, you can start buying & selling crypto right away.