How to buy crypto at UniCredit (2023)? – 3 steps!
Do you want to buy Bitcoins, Ethereum or other crypto instantly with your UniCredit bank account? By following the 3 clear steps in this article, you’ll be investing in cryptocurrencies with your UniCredit account in no time.
How to buy crypto with UniCredit?
Step 1: open an account with a crypto exchange
Unfortunately, you cannot buy crypto directly from UniCredit. However, by opening an account with a crypto exchange, you can still buy crypto with your bank balance. The overview below immediately shows which crypto exchanges you can join:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with UniCredit after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: verify your account & deposit money
Before you can deposit money into your crypto account with your UniCredit account, you must first verify your account. Financial institutions should always check who they are doing business with: that way, they prevent users from abusing the platform for criminal purposes. You will therefore have to at least upload a copy of your passport and address.
After your account is fully verified, you can immediately deposit funds using your UniCredit account. Deposits are often processed the same day, but with some crypto exchanges it can take a few working days for the money to appear in your account. When you are actively trading, it is therefore important to always have some money available in your crypto account.
Step 3: buy crypto with UniCredit
Most crypto exchanges are very user-friendly: it is therefore not difficult to buy crypto with your UniCredit account. Within the trading platform, navigate to the crypto you want to invest in and press the buy button. Then enter the amount you want to invest in the crypto in question. When you are ready, you can then send the order directly to the crypto exchange. It can sometimes take a few minutes before the order is actually executed.
What is UniCredit’s stance on crypto?
UniCredit clearly states on its website that they do not offer crypto investments themselves. They do so because the risks for crypto investments are high, so these products do not suit all individuals.
UniCredit recently made negative headlines when its Italian bank indicated that they would block bank accounts of users who buy crypto. The bank eventually indicated that this was a mistake and that they would not simply close accounts of users investing in crypto. Therefore, at the time of writing, it is clearly not a problem to invest in crypto with your bank account at UniCredit.
Personally, then, I think UniCredit has learned its lesson. Indeed, the bank received a hefty fine after they closed the bank account of a crypto mining company.
How to buy crypto securely with your UniCredit bank account?
Crypto is risky; that is a fact. At the same time, crypto has also made many people rich. It is therefore not surprising that you are interested in investing in this still fairly new product.
By investing wisely, you reduce the chances of losing money with Bitcoin, Ethereum and other crypto. For example, spread your investments across different types of assets and only invest with money that you can really lose for the long term.
It is also important to pay sufficient attention to your security. Because there is no central party to guarantee it, you really do lose your assets completely in case of a hack. You can choose to send your crypto to an external wallet: that way, you maintain full control over your own cryptocurrencies.
UniCredit S.P.A. is an international bank headquartered in Milan. Within Italy, UniCredit is the only systematically important bank and globally it ranks 34e when looking at assets. UniCredit is listed on the Euro Stoxx 50 which includes the largest European shares. The bank’s history leads us back to the year 1870, although the bank has only borne its current name since 1998.
UniCredit operates in 13 markets including Germany (HypoVereinsbank) and Austria (Bank Austria).
Can you buy Bitcoins at UniCredit?
You cannot buy Bitcoins & other crypto directly from UniCredit. At the time of writing, the bank also has no plans to offer crypto as an investment opportunity. However, the bank has since promised not to block crypto investors’ bank accounts. You can therefore buy crypto with a crypto exchange through your UniCredit bank account without any problems.