Added: How to buy crypto at Česká spořitelna (Bitcoin)?
Do you want to buy Bitcoin & other cryptocurrencies at Česká spořitelna? Follow the steps in this article to invest in crypto at Česká spořitelna right away.
How to buy crypto at Česká spořitelna
Step 1: open an account with a crypto exchange
Before you can buy crypto with your account at Česká spořitelna, you first need an account at a crypto exchange. This is because it is not possible to buy Bitcoin directly from Česká spořitelna. The overview below shows you directly which crypto exchanges you can open an account with:
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Step 2: verify account & deposit money
Before you can buy cryptocurrencies at Česká spořitelna, you must first verify your account. To accomplish this, upload a copy of your passport and proof of your address. After your account is verified, you can deposit money directly from your account at Česká spořitelna. Please note that it can sometimes take several days for the money to arrive in your account.
Step 3: buy crypto with Česká spořitelna
After the money arrives in your account, you can immediately buy your favourite crypto. Many users choose Bitcoin, but thousands of options exist. It can therefore definitely pay off to research your investment options.
Once you are sure which crypto you want to buy, you can select it within the trading platform. Then enter the amount you would like to invest and press the buy button. The position will then be sent to the crypto exchange and will be processed within minutes.
Some investors hold cryptocurrencies for as long as possible. However, when you are actively trading, there will probably come a time when you want to sell the crypto again. You can do this by sending a sell order to the crypto exchange. After the crypto is sold, you transfer the money back to Česká spořitelna.
Buying & selling crypto: what to look out for?
When actively speculating on crypto price movements, you need to pay attention to the latest news. For instance, when the crypto exchange FTX toppled in 2023, you saw crypto prices fall sharply. As an active trader, you can capitalize on this by opening a short position: you then speculate on a falling price.
However, for most investors, it may be wiser to invest for the long term. For example, you can invest a fixed amount periodically: this is also called dollar cost averaging. With dollar cost averaging, you achieve an average return on your investments.
Regardless, it is essential to consider security. Select a reliable crypto exchange and make sure you secure your account properly with a password. That way, you avoid losing substantial money with your crypto investments.
About Česká spořitelna
Česká spořitelna is the largest bank in the Czech Republic, with around 5 million customers. Its headquarters can be found in Prague, but the bank is part of the Erste Group based in Austria.
You can buy crypto at Česká spořitelna without any problems by using an exchange. There are no known cases of users whose bank accounts were blocked because of crypto transactions.
Can you buy Bitcoin at Česká spořitelna?
It is not possible to buy Bitcoin, Ethereum or other crypto at Česká spořitelna. However, the bank allows you to link an account to a crypto exchange. Are you wondering how this works? Scroll up to read the step-by-step guide to investing in crypto at Česká spořitelna.