How to buy crypto (Bitcoin) with DZ Bank?
Are you thinking about investing in crypto with your account at DZ Bank? Follow the steps in this article & buy Bitcoin, Ethereum or other crypto with your bank account at DZ Bank.
How to buy crypto at DZ Bank Group?
Step 1: open account at crypto exchange
An important first step for buying crypto is opening an account at a crypto exchange. This is the case because it is not possible to buy Bitcoin and other crypto directly at DZ Bank. The overview below shows you directly which providers you can use:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with DZ Bank Group after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Choose a crypto exchange that suits you: options between different providers vary widely.
Step 2: your first deposit
Before you can deposit money into your crypto exchange account, you need to go through the verification steps. These steps differ depending on the crypto exchange, but often you will at least need to upload a copy of your passport.
After your account is verified, you can deposit money directly from your DZ Bank account. Make sure you copy the bank account number correctly; this helps you to avoid losing the amount of your deposit.
Step 3: buy crypto with DZ Bank
You can now send your order to the crypto exchange. To achieve this, select the crypto you want to buy and enter the amount you would like to invest. After you send the crypto order to the exchange, it can take up to several minutes before the position is actually opened.
After the position is opened, you can sell your crypto again at any time. And you can then send your funds back to your account at DZ Bank.
Which crypto can you invest in at DZ Bank?
- Bitcoin: Bitcoin was the first cryptocurrency to enter the market and is still the largest. This popular cryptocurrency is therefore often used as a benchmark.
- Ethereum: after Bitcoin, Ethereum is the most popular cryptocurrency. Ethereum also allows you to create so-called smart contracts.
- Altcoins: besides these well-known cryptocurrencies, thousands of alternative cryptocurrencies exist. Do proper research when looking to invest in an altcoin!
What is DZ Bank’s stance on crypto?
DZ Bank reveals that they are positive about the technology behind crypto: the blockchain. They believe the blockchain will revolutionize transactions. At the same time, they warn that cryptocurrencies are still very volatile, making them not always suitable for retail investors.
DZ Bank is also investing heavily in crypto itself, but it will probably be some time before customers of the bank can buy Bitcoin themselves with their bank accounts. However, DZ bank does not block transactions to reliable exchanges, so you can invest in crypto with your bank account at DZ Bank without any problems.
About DZ Bank
DZ Bank AG is the second-largest bank in Germany, with more than 8,500 branches in the country. The bank’s full name is Deutsche Zentral-Genossenschaftsbank (German central cooperative bank). DZ Bank’s headquarters can be found in Frankfurt.
The bank’s brands include DVB Bank, DZ HYP, DZ Privatbank Gruppe, TeamBank, Union Investment Group and VR Leasing. Unfortunately, it is not possible to buy crypto at any of the bank’s brands.
Can you buy Bitcoin at DZ Bank?
Unfortunately, it is not possible to buy Bitcoins directly from the DZ bank. By following the steps in this article, you can still invest in crypto coins through a crypto exchange. However, it is advisable to do research about the risks this entails, as crypto investments are not suitable for everyone.
Over Alex Mostert
Already in 2015 I bought my first Bitcoins for roughly $300, only to sell them shortly after for $900. At the time I thought I benefited from the deal of the century, but I, of course, had no idea Bitcoin would become as popular as it is today. On this website, I want to teach everybody how to buy Bitcoin through their bank.