How to buy crypto (Bitcoin) from SNS Bank?
Want to buy Bitcoin & other crypto with your account at SNS Bank? By following the steps in this article, you can quickly buy your favourite cryptocurrencies with your account at SNS Bank.
How to buy crypto at SNS Bank?
Step 1: open an account with a crypto exchange
Before you can buy Bitcoin & other crypto at SNS Bank, you need an account with a reliable crypto exchange. The overview below shows you directly which crypto exchanges you can join:
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Not every crypto exchange is suitable for every user. Therefore, research carefully whether the crypto exchange you select is a good fit for you.
Step 2: verify your account & deposit money
Before you can deposit money into your crypto exchange account, you must first verify your account. Verifying your account doesn’t take long, all you need to do is upload proof of your identity and address.
After your account is activated, you can deposit your funds directly from your SNS Bank account. It can then take several hours to days for the money to appear in your account. With some Dutch exchanges, however, you can deposit money directly by using iDEAL.
Step 3: Buying Bitcoin with SNS Bank
After following the listed steps, you can immediately start buying Bitcoin using your account at SNS Bank. To do so, navigate to Bitcoin within the crypto platform and enter the amount you want to invest. Buying Bitcoins is possible from as little as €1, as Bitcoin can be distributed in small amounts.
After you send the order to the exchange, it can take up to a few minutes for it to be executed. Want to exchange the Bitcoin or other crypto for fiat again? You can do so by selling the crypto with a new sell order. You can then have the money transferred back to your SNS Bank account.
Buy crypto safely with SNS Bank
The SNS Bank itself warns against it: buying crypto quickly and getting rich is not in the cards. Of course, you can get lucky, but you can also get when buying a lottery ticket. Many young investors lose a lot of money with crypto because they expect a high return and bet a lot of their money on it.
Avoid the biggest mistakes and make sure you buy crypto safely with your account at SNS Bank. For example, only invest with money you can afford to lose and never borrow money to buy crypto. That way, you reduce the chances of a financial fiasco: Bitcoin is, after all, very volatile, which can cause you to lose a large part of your deposit.
SNS Bank’s stance on crypto
SNS Bank has no anti crypto policy, which means you can buy crypto with your account at SNS Bank without any problems.
Incidentally, the official name of SNS Bank has been Volksbank since 2020. However, the bank still operates under the name SNS Bank.
Can you buy Bitcoin at SNS Bank?
It is certainly possible to buy Bitcoins with SNS Bank, but this is via a workaround. This is because the bank does not offer the option to buy crypto. However, by opening an account at a reliable crypto exchange, you can still invest in Bitcoin at SNS Bank without any problems.