Buying bitcoins & other crypto with Credit Suisse: here’s how to do it!
Wondering how to buy crypto with Credit Suisse? By following the steps in this tutorial, you’ll be buying Bitcoins & other crypto with your bank account with Credit Suisse in no time!
How to buy crypto at Credit Suisse?
Step 1: open account at crypto exchange
It is not possible to buy Bitcoins, Ethereum, Binance Coin or other crypto coins directly from Credit Suisse. However, by opening an account directly with a reliable crypto exchange, you can invest directly in popular crypto coins without any hassle:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Credit Suisse after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: deposit money from Credit Suisse
Before you can buy your favourite crypto coins, you must first deposit money into your account from your Credit Suisse account. You do this by copying the deposit details within the crypto exchange and then transferring the money directly from your Credit Suisse account.
Just keep in mind that your crypto exchange account needs to be activated first. You can activate your account by uploading a copy of your passport & proof of your address. Most crypto exchanges will then activate your account within one business day, but this can sometimes take longer.
Step 3: buy crypto with Credit Suisse
Now that you have an activated account with a crypto exchange, you can immediately buy your favourite crypto. When placing an order, you have the following options:
- Amount: enter the amount for which you want to open the crypto investment.
- Limit order: you can open your position when Bitcoin drops to a certain price.
- Stop loss: with a stop loss, you automatically take your losses at a certain price.
- Take profit: with a take profit, you automatically take your win at a certain price.
- Leverage: some crypto exchanges allow you to speculate on crypto price movements with CFDs. This is extra risky and therefore not recommended for everyone.
After you send an order, it is usually executed by the crypto exchange within seconds to minutes. Keep in mind that sometimes you will pay a little more or less for the crypto than expected. The crypto market is constantly changing, and therefore the price can change every second.
How can you invest in crypto?
Most people invest in crypto with Credit Suisse by buying Bitcoin or Ethereum. Did you know that apart from these popular cryptocurrencies, there are hundreds of other cryptocurrencies you can invest in? When considering altcoin, it is highly recommended to read the white paper carefully. This is because the white paper will tell you what the developer’s plans are for the crypto coin in question.
If you prefer not to invest directly in crypto coins, you can also choose to buy shares of companies active in crypto and/or the blockchain. For example, Nvidia did very well for a long time, as its graphics cards are used for mining crypto coins. When investing in a company, it is important to check its financial position carefully. This is because if a company goes bankrupt, you will lose your entire deposit.
Finally, you can also buy an ETF that invests in Bitcoin. This provides the advantage of not having to protect your crypto assets yourself. A big disadvantage is the high fees: you quickly pay 2% annually when you buy a crypto ETF. When you buy crypto yourself with your Credit Suisse account, you don’t pay any management fees at all.
Is Credit Suisse crypto-friendly?
Credit Suisse’s CEO is not very positive about crypto. It seems difficult for him to offer crypto coins because of anonymity. Anti-money laundering requirements are high, and it is difficult for banks to meet them when offering Bitcoins.
In another report, Credit Suisse does highlight several advantages of crypto. For instance, blockchain could help reduce transaction costs and processing time in stock markets. Blockchain can also be used as a weapon against bureaucracy and can counter piracy.
Credit Suisse is not super positive about crypto as an investment for retail investors. Fortunately, this doesn’t have to stop you: In fact, Credit Suisse does not block deposits to reliable crypto exchanges.
About Credit Suisse
Credit Suisse is one of the largest Swiss banks headquartered in Zurich. The bank operates in all major financial centres around the world and is known for its banking secrecy. Credit Suisse is even the Forex (currency) counterparty for the Fed.
Credit Suisse’s history goes back a long time: the bank was founded in 1856 to finance the building of the country’s railways. Credit Suisse did well during the 2008 economic crisis; compared to other banks, its problems were very mild.
Can you buy Bitcoins from Credit Suisse?
Yes, you can buy Bitcoins and other crypto at Credit Suisse. However, you don’t do this directly through your bank account; by linking your Credit Suisse bank account to a crypto exchange, you can invest in crypto without any issues. At the top of the article, you will immediately find a list of reliable crypto exchanges you can use.