How to buy crypto (Bitcoin) with BNP Paribas Bank (2023)?
BNP Paribas is one of the largest banks in the world. In this article, I’ll explain how to buy crypto with your bank account at BNP Paribas Bank. Follow the 5 steps in this article & buy your favourite crypto!
How to buy crypto at BNP Paribas?
Step 1: sign up with a crypto exchange
BNP Paribas does not offer crypto products itself, nor does it plan to start offering Bitcoin to its clients. However, by linking your BNP Paribas bank account to a crypto exchange, you can still buy crypto without any problems. Open an account with a reliable crypto exchange right away:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with BNP Paribas after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: verify account
Before you can deposit money, you must first verify your crypto account. You verify your account by uploading a copy of your passport and address. In most cases, you will also have to answer some questionnaires about your financial situation & investment plans.
Step 3: deposit money with BNP Paribas
After your account is fully verified, you can directly deposit funds to your crypto account. Keep in mind that it sometimes takes several working days for the transaction to be processed.
Step 4: buy crypto with BNP Paribas
It can sometimes be difficult to choose the best crypto to invest in; after all, you can invest in hundreds of different crypto coins at crypto exchanges. It is therefore advisable to carefully research each of the cryptocurrencies you are interested in.
When you are sure which crypto coin you want to buy, you can select it within the software, and fill in the following details on the order screen:
- Amount: enter the amount you would like to invest.
- Limit order: with a limit order, you enter the price at which you would like to open the order.
- Take profit: with a take profit, you set an amount at which you automatically take your profits.
- Stop loss: with a stop loss, you set an amount at which you automatically take your losses.
Once you have filled in all the details, you can press the buy button. Your order will then be sent to the exchange and is executed within seconds to minutes.
Step 5: evaluate your position
It is advisable to regularly evaluate your crypto position. Does the crypto investment still suit you and are you confident about the future of the cryptocurrency? If your answer is no, and you want to sell your crypto, then all you have to do is place a sell order and send it to the crypto exchange. You can then transfer the money back to your bank account at BNP Paribas.
Safely buy crypto through BNP Paribas
- Password: choose a strong password that you don’t use anywhere else.
- 2FA: with 2FA, you make it harder for hackers to access your account.
- Research: compare cryptocurrencies and read through the white paper.
- External wallet: send crypto you don’t need to an external wallet.
- Secret: don’t tell anyone about your crypto investments & assets.
What is BNP Paribas Bank’s crypto policy?
BNB Paribas is interested in blockchain technology. For instance, the bank has joined the crypto custody space. Yet, the bank does not plan to offer crypto itself. More and more banks are offering mutual funds through which affluent customers can invest in crypto. However, according to BNP Paribas’ asset management, there is insufficient interest in these products among its customers.
The bank does have an interest in using the blockchain ledger for stock transactions. The blockchain could then be used for registering transactions.
You can buy crypto from a reliable crypto exchange with BNP Paribas without any problems. By choosing a well-known crypto exchange, you avoid BNB Paribas having to temporarily block your bank account to investigate your suspicious transaction.
About BNP Paribas
BNP Paribas is a French international banking group created in 2000 by the merger of Banque National de Paris (BNP) and Paribas. The full name of the merged bank is BNP Paribas S.S.
With as many as 190,000 employees and more than €2.5 trillion in assets under management, it is Europe’s second-largest bank after HSBC. The bank’s shares are freely tradable on Euronext in Paris.
BNB Paribas has a long history: the bank’s origin lies in 1848 with the creation of the Comptoir National d’escompte de Paris. The bank has been involved in several scandals recently; in 2014, for instance, it received a fine of $8.9 billion dollars for doing business with countries under US sanctions.
Can you buy Bitcoin at BNP Paribas?
You can buy Bitcoin & other crypto from BNP Paribas without any problems. However, the bank itself does not plan to offer crypto. Therefore, if you want to invest in crypto at BNP Paribas, you need to link your bank account to a reliable crypto exchange. At the beginning of this article, you can read how to buy crypto with BNP Paribas in five steps.