How to buy crypto at the National Bank of Canada?
Unfortunately, you cannot buy crypto directly with your account at National Bank of Canada. However, by following the steps in this article, you can still buy Bitcoin and other cryptocurrencies with your account at National Bank of Canada without any problems.
How to buy crypto with National Bank of Canada?
Step 1: register with a crypto exchange
You can link your bank account with the National Bank of Canada to a crypto exchange without any problems. At a crypto exchange, you can exchange fiat for cryptocurrencies. In the overview below, you can immediately see which parties you can go to:
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Step 2: verify account
Before you can buy crypto, it is important to verify your account first. You can verify your account by uploading a copy of your passport & proof of your address. You also often have to answer some questions about your investment experience.
Step 3: deposit money from National Bank of Canada
You can then deposit funds directly from your National Bank of Canada account to your account at the crypto exchange. Depending on the crypto exchange, it may take a few days for the money to arrive in your account.
Step 4: select and buy crypto
It can sometimes be difficult to choose what crypto to invest in. There are thousands of cryptocurrencies, with far from all of them being equally interesting. Therefore, research extensively what the pros & cons of a crypto are. Reading the whitepaper will also give you a good idea of quality development team.
When you know which crypto you want to buy, you can select it within the crypto platform. Then enter how much of the crypto in question you want to buy and press the buy button.
When you want to sell your crypto again in the future, you can follow the same steps but with a sell order
What is National Bank of Canada’s stance on crypto?
The National Bank of Canada clearly finds crypto interesting. Indeed, the National Bank Direct Brokerage launched the first physically supported Bitcoin ETF in 2021. Two months later, the bank’s brokerage also launched a physically supported Ethereum ETF. This makes it possible to invest in crypto indirectly with your investment account at National Bank of Canada.
Therefore, the National Bank of Canada has no further negative policy towards crypto. You can simply transfer money to a crypto exchange and buy Bitcoin, Ethereum or other crypto currencies.
About National Bank of Canada
The National Bank of Canada or in French Banque Nationale du Canada is in the top 10 largest banks in Canada. Its headquarters can be found in Montreal and the bank serves about 2.5 million customers. The bank also operates on a small scale abroad: the ABA Bank in Cambodia, for example, is owned by the National Bank of Canada.
Can you buy Bitcoin at the National Bank of Canada?
Yes and no… you can use your investment account with National Bank of Canada to invest directly in a crypto ETF. With a crypto ETF, you invest in a fund that buys Bitcoin & Ethereum for large amounts of customers. However, you cannot buy crypto directly at National Bank of Canada. What you can do, is link your National Bank of Canada account to a reliable crypto exchange.