How to buy crypto at Banco Pinchincha (Bitcoin)?
Are you planning to invest in crypto using your bank account with Banco Pinchincha? Follow the steps in this article to buy Bitcoin directly with Banco Pinchincha!
How to buy crypto with Banco Pinchincha?
Step 1: register with a crypto exchange
You first need an account with a crypto exchange, as it is not possible to buy Bitcoin and other crypto yourself at Banco Pinchincha. In the overview below, you can immediately see which exchanges you can join:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Banco Pinchincha after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: depositing money with Banco Pinchincha
Before you can buy crypto with your bank account at Banco Pinchincha, you must first verify your account. You verify your account by verifying your identity and uploading a copy of your passport and address.
After the verification, you can directly deposit money from your Banco Pinchincha bank account to the crypto exchange. Transferring money directly is cheaper than depositing money from your credit card, as this quickly incurs a 1% fee.
Step 3: buy crypto with Banco Pinchincha
The next step is to buy your favourite crypto directly with Banco Pinchincha. Within the trading platform, select the crypto you want to buy and fill in the following details:
- Amount: enter the amount you would like to invest in crypto.
- Stop limit: you can optionally enter an amount at which you automatically take your losses.
- Take profit: you can also enter an amount on which you automatically take profit.
- Limit order: with a limit order, you enter an amount at which you open the order.
Once you are satisfied with the order, you can send it directly to the crypto exchange by pressing the buy button. It may then take a few seconds for the order to be executed. You can sell your crypto again at any time and have the money transferred to your bank account at Banco Pinchincha.
Pay attention to security when buying crypto
- Security: secure your account with 2FA & choose a strong password.
- External wallet: if you own a lot of crypto, it may be wise to send some to an external wallet.
- Secret: keep your crypto assets secret, that way you keep hackers out.
- Research: research cryptocurrencies extensively before investing in them.
Banco Pinchincha’s stance on
Banco Pinchincha has no specific policy towards crypto. Customers of the bank can transfer money to a crypto exchange without any problems. By selecting a reliable party, you avoid having your account blocked in the future.
About Banco Pinchincha
Banco Pinchincha is the largest bank in Ecuador and manages more than $4 billion in assets. With 100,000 employees, the bank employs many people. Banco Pinchincha also operates in Peru, Colombia, and Panama. On a small scale, the bank can even be found in Miami and some Spanish cities.
Can you buy Bitcoin at Banco Pinchincha?
You can buy Bitcoin & other crypto from Banco Pinchincha, but you have to follow the steps in this article. This is because the bank itself does not yet offer crypto products. Fortunately, you can link your account to a crypto exchange without any issues. Keep in mind that you can earn high returns with crypto, but that the price can also suddenly drop sharply.