How to buy Bitcoin & other crypto at Banorte?
Buying crypto with your bank account at Banorte is possible, but only with a workaround! In this guide, I explain to you how to buy Bitcoin & other crypto from Banorte without any problems.
How to buy crypto at Banorte?
Step 1: open an account with a crypto exchange
It is not possible to buy Bitcoin & other crypto directly from Banorte. By opening an account with a crypto exchange first, you can still use the funds in your account to invest in crypto. Open an account directly with one of the following crypto exchanges:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Banorte after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: verify your account
After you open an account, you cannot buy Bitcoin right away. In fact, your account needs to be verified first. You can verify your account by uploading a copy of your passport and proof of address. Often, you also have to answer some questions about your investment experience and your financial situation.
Step 3: deposit money from Banorte
After your account is verified, you can deposit funds directly from your Banorte account. Keep in mind that it can sometimes take several working days for the money to arrive in your crypto exchange account.
Step 4: select crypto
It can sometimes be difficult to select a crypto: you can trade in hundreds of different crypto coins at most crypto exchanges. Therefore, research the advantages and disadvantages of the cryptocurrency you want to invest in carefully.
Step 5: buy crypto with Banorte
When you are sure which crypto you would like to buy, you can immediately open an order. Within the order screen, you enter the amount you would like to invest. You can also optionally use a limit order, stop loss or take profit. After you open the position, it may take a few seconds to minutes before it is actually executed.
Step 6: evaluate your investment
It is wise to evaluate your investment regularly. That way, you can be sure that your crypto investments still belong in your portfolio. If you want to sell the crypto again, you can do so directly with a sell order. You can then transfer the money to your Banorte bank account.
What is Banorte’s stance on crypto?
Banorte does not block accounts of customers investing in crypto. This means that you can link your Banorte account to a reliable crypto exchange without any problems. Banorte also explains on its website what Bitcoin is and names both the opportunities and risks. Until now, the bank has not announced plans to offer crypto themselves.
Banorte is part of Grupo Financiero Banorte (S.A.B. de C.V.). The bank also regularly offers its financial services under the name Ixe. The bank’s headquarters can be found in Monterrey and Mexico City, and the bank is one of the largest four in the country.
With over 1,200 branches and 7,000 ATMs, the bank is a major player. Currently, the bank has over $35 billion in loans outstanding. Since 2006, Banorte has also been active in America; they then acquired ING Financial Corp which is a relatively small bank in Texas. In the future, Banorte may expand further around the world!
Can you buy Bitcoin at Banorte?
It is not possible to buy Bitcoin or other crypto at Banorte. However, Banorte is considered a crypto-friendly bank, which means that as a customer, you can buy crypto from a crypto exchange without any problems. However, it is advisable to keep the risks in mind: after all, investors regularly lose hefty amounts with crypto investments.