How to buy crypto at Knab? Bitcoin & Ethereum
Want to buy crypto with your Knab account? Then you’ve come to the right place! In this short tutorial, you will find out how to buy Bitcoin & other crypto with Knab.
How to buy crypto at Knab?
Step 1: open account at crypto exchange
It is not possible to buy Bitcoin, Ethereum and other crypto directly from Knab. However, you can link your Knab account to a crypto exchange without any problems. In the overview below, you can immediately see which providers you can go to:
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At some crypto exchanges, you can try out crypto trading completely risk-free with a demo. Before you can invest with real money, you must first verify your account with Knab.
Step 2: verify account & deposit money with Knab account
It is mandatory under European legislation for crypto exchanges to verify the identity of users. You can confirm your identity by uploading a copy of your passport and proof of your address. It can sometimes take several working days for your account to be approved.
After your account has been approved, you can deposit money to the crypto exchange directly from your Knab bank account. Some exchanges may take a few days for the money to arrive in your account.
Step 3: buy crypto with your Knab account
You can now buy crypto directly with your Knab account. Besides Bitcoin, you can trade hundreds of different altcoins at crypto exchanges. Altcoins differ greatly in their features and are not all equally reliable. For instance, some altcoins do not provide a specific feature and are also called memecoins or shitcoins. These types of cryptocoins can quickly fall in value. It is therefore important to research carefully whether the crypto you want to invest in is worthwhile.
Then, within the crypto platform, select the crypto you want to buy. Within the crypto platform you can enter the amount of crypto you want to buy. Then press buy to send the order directly to the crypto exchange. It can sometimes take a few seconds to minutes for the order to be executed.
Step 4: send crypto to external wallet
You can choose to store the crypto on the exchange. However, this is not without risk; there are plenty of stories of crypto exchanges that went bankrupt with users losing their assets.
By sending your crypto to an external wallet, you avoid losing your crypto if the exchange goes bankrupt. However, it is then important to store the keys properly; when you lose them, you will no longer be able to access your crypto.
About Knab & crypto policy
Knab is a Dutch bank founded in 2012 under the licence of Aegon Bank. Knab’s operations have been under ASR since 2023. With 250,000 customers in the Netherlands, the bank is a relatively small player.
Fortunately, Knab is not anti-crypto: you can therefore open an account as a user without any problems. However, keep in mind that banks sometimes block accounts of users who send a lot of money to unreliable foreign bank accounts. By choosing a reliable exchange, you reduce the chances of your account being blocked.
Can you buy Bitcoin at Knab?
It is not possible to buy Bitcoin or other crypto at Knab. However, by opening an account with a reliable exchange, you can still invest in crypto without any problems. Do take the necessary precautions, as there are many crypto scams. Anyway, only invest with money you can afford to lose in crypto!