How to buy crypto (Bitcoin) at CaixaBank? Short guide
Do you want to buy crypto like Bitcoin or Ethereum with your bank account at CaixaBank? In this short guide, I explain how to invest in crypto at CaixaBank!
How to buy crypto at CaixaBank?
Step 1: open an account with a crypto exchange
A crypto exchange is a company that allows individuals to invest in crypto. It is currently not yet possible to buy Bitcoin or other crypto through CaixaBank. Use the buttons below to open an account with a reliable crypto exchange:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Caixabank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: deposit money from CaixaBank
Before you can deposit money from your CaixaBank account to your crypto exchange account, you need to go through the verification steps. Upload a copy of your passport & address to verify your account.
After your account is verified, you can directly deposit funds from your CaixaBank account to your crypto exchange account. International transactions sometimes take some time to process: so you might have to wait a few working days.
Step 3: buy crypto with CaixaBank
Once the money arrives in your crypto exchange account, you can immediately start buying your favourite crypto. Within the trading platform, navigate to the crypto you want to buy and press the buy button.
Timing is especially important for day traders who try to get a positive result in the short term. If you invest in Bitcoin for the long term, you can regularly invest a fixed amount: this is also called dollar cost averaging.
When you are sure you would like to buy the crypto, all you have to do is enter the amount you want to invest and press buy. You can then sell the crypto again at any time and have the amount transferred back to your CaixaBank account.
Risks of crypto
Investing in crypto carries the necessary risks. Due to the structure of the blockchain, for instance, transactions cannot be reversed. Therefore, if you send money to the wrong account, you lose the money. Moreover, cryptocurrencies are prone to hacks, which can cause you to lose your assets.
Another risk of crypto is oversight: as crypto becomes increasingly popular, governments are drawing up more and more regulations. In the future, taxes on crypto transactions may increase sharply. Despite the risks, many investors are still interested in crypto. They are excited about the potential for high returns.
Is CaixaBank crypto-friendly?
CaixaBank is positive when it comes to the technology behind crypto: the blockchain. Because of the risks mentioned, the bank does have doubts about the growth potential of cryptocurrencies. Despite these doubts, they did set up a platform for corporate clients to process international transactions.
Despite CaixaBank’s doubts, they do not block crypto transactions. Therefore, as a customer of the bank, you can buy and sell crypto without any problems.
CaixaBank is a Spanish multinational headquartered in Valencia. With over 5,000 branches and 15 million customers, the bank is a massive player, especially in Spain. The bank also has a large stake in Repsol (an oil company) and Telefónica (a telephony company).
Can you buy Bitcoin at CaixaBank?
It is not possible to invest in Bitcoin directly at CaixaBank. It will probably take some time before CaixaBank will offer crypto. Until then, you can fortunately still buy crypto with your CaixaBank account by linking it to a reliable crypto exchange. You can read how this works at the beginning of the article.