Can you buy crypto (Bitcoin) at Banco Nacional de Bolivia?
Do you want to buy crypto at Banco Nacional de Bolivia (BNB)? Officially, trading crypto is not possible in Bolivia, but thanks to its decentralised nature, you can still buy Bitcoin and other crypto without any problems.
How to buy crypto at Banco Nacional de Bolivia
Step 1: create an account with a crypto exchange
Given the ban on buying and selling crypto at Banco Nacional de Bolvia, you cannot buy crypto directly from the bank. However, you can buy an account from a reliable crypto exchange:
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It is best to choose a party where you can buy both crypto and shares. That way, you reduce the chances of your bank account being blocked when performing crypto transactions.
Step 2: deposit money into your crypto account
Before you can buy crypto, you must first deposit funds from your BNB account to your account at the crypto exchange. Bear in mind that it may take several days for the transaction to be carried out.
Most crypto exchanges require you to upload a copy of your passport and proof of address before you can start trading. This way, your crypto exchange can prevent money laundering.
Step 3: buy crypto with BNB
You can now immediately buy your favourite crypto with your BNB account balances. It is advisable to first carefully research the crypto you want to invest in. For instance, do you believe the crypto has a right to exist? And what are the developers’ plans for the future?
When you are sure you want to buy the crypto, all you have to do is enter the amount you want to invest. Then press the buy button to verify the order immediately. You can also optionally use a stop loss or take profit; this way, you automatically close the position at a certain loss or profit.
BNB’s stance on crypto
Bolivia’s government has a negative stance on crypto. In fact, they have banned crypto payments altogether. However, due to the decentralised nature of crypto, they can never completely stop people from owning crypto.
By using a reliable exchange where you can also buy stocks, you can buy crypto without any problems. Personally, I use eToro for buying crypto & shares at the same time! This can certainly be of interest to users in Bolivia, as BNB will not simply block transactions to equity platforms.
Banco Nacional de Bolivia S.A. or better known as BNB is one of the oldest banks in Bolivia, having been founded in 1871. Its headquarters can be found in Sucre and it is the country’s second largest bank. The bank also operates in Peru under the name BNB Valores Perú S.A. By following the steps in this article, you can also buy crypto with your account at BNB Perú.
Can you buy Bitcoin from BNB?
It is not possible to buy Bitcoin at BNB. The government of Bolivia has a negative attitude towards crypto; therefore, it will not be possible to buy crypto with your bank account at BNB just like that. However, by opening an account with a reliable exchange, you can still invest in Bitcoin & other crypto without any problems. Follow the steps at the top of this article to get started right away!
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.