Buy bitcoin & other crypto with SEB – clear guide
Are you thinking about investing in crypto with SEB or Skandinaviska Enskilda Banken AB? You can! Follow the steps in this guide, and you can buy crypto with SEB without any problems!
Step 1: open an account with a crypto exchange
It is not possible to buy crypto directly from SEB. However, by opening an account with a reliable crypto exchange, you can invest in crypto with your bank without any problems:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with SEB after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
It is possible at many crypto exchanges to try trading for free with a demo. This can be attractive if you have little experience with crypto.
Step 2: verify account & deposit money
Before you can deposit money from your account with SEB, you must first verify your account. You can verify your account by uploading a copy of your passport and proof of your address. After your documents are approved, you can immediately deposit money into your account. Kindly note that it may take several working days for the money from your SEB account to arrive at the crypto exchange.
Step 3: buy crypto with SEB
Within the trading platform, select the crypto you want to invest in: this could be Bitcoin or Ethereum. Then enter the amount you would like to invest and press the buy button.
Keep in mind that the price you end up paying could be just a bit higher. This can happen because crypto markets are in constant movement. A crypto exchange tries to find a match between supply and demand, and with high volatility, the market can move in the meantime. With a limit order, you can always be certain you won’t pay more than the amount you specify.
What are the benefits of buying Bitcoin?
- Blockchain: blockchain is revolutionary and could permanently change the way we make payments.
- New technology: proponents of crypto sometimes claim that Bitcoin is the internet in the 1990s; there is still a lot of room left for growth.
- Decentralized: governments and companies cannot influence Bitcoin, which favours countries with unreliable governments.
- Scarcity: the number of Bitcoin is limited and Bitcoins cannot be duplicated.
- Return: over the last 10+ years, Bitcoin has skyrocketed in value. Past performance is obviously no guarantee for the future, but it is a favourable sign.
What are the disadvantages of buying Bitcoin?
- Volatility: the price of Bitcoin & other crypto is hugely volatile. You can easily lose 10% or more in a day.
- Security: there are many hackers lurking, and even crypto exchanges regularly go bankrupt.
- Scams: many cryptocurrencies exist with no fundamental value. Therefore, do proper research when investing in Bitcoin and other cryptocurrencies.
- Energy: many cryptocurrencies consume a huge amount of energy. Bitcoin, for example, consumes as much energy as a reasonably large country.
- Ease of use: Bitcoin’s ease of use is still limited, so few people actually make payments using the cryptocurrency.
SEB’s policy towards crypto?
SEB has not made a clear statement on crypto, but at least they do not seem to be anti-crypto. Therefore, you can confidently invest in crypto with your SEB account at a crypto exchange. However, it is important to choose a reliable crypto exchange: by doing so, you avoid having your bank account blocked.
SEB or in full Skandinaviska Enskilda Banken is headquartered in Stockholm. The bank operates in Sweden and the Baltic countries. The bank has over 4 million customers across several countries. Outside Sweden, SEB has a large focus on institutional parties.
Can you buy Bitcoins at SEB?
It is not possible to invest directly in Bitcoin, Ethereum or other crypto coins at SEB. By following the steps in this article, you can still invest in crypto coins with your account at Skandinaviska Enskilda Banken without any problems! However, never forget that crypto are risky and that you can lose your entire deposit.