Summary: ABN AMRO Bank doesn’t offer customers the chance to buy cryptocurrencies on its own platform. Instead, ABN AMRO customers can connect their banking accounts to a regulated crypto exchange to purchase digital assets like Bitcoin (BTC) and Ethereum (ETH).
In short, to buy crypto with ABN AMRO, investors will need to sign up with a licensed crypto-friendly multi-asset investing platform like eToro and deposit EUR from their ABN AMRO account.
Can you buy crypto with ABN AMRO?
You can buy crypto with ABN AMRO, but you need to connect to a licensed broker that offers cryptocurrencies. As mentioned above, this is because ABN AMRO does not provide direct access to cryptocurrency services through its online banking platform.
How to buy crypto with ABN AMRO?
The best way to buy Bitcoin (BTC) or any other cryptocurrency with ABN AMRO is through a regulated broker like eToro, which is a widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as “Copy Trading” (enables users to imitate top-performing crypto traders), a staking service, custom watchlist, as well as advanced charts and technical analysis tools.
How to buy crypto with ABN AMRO online banking: Step-by-Step
You can get started in minutes with four simple steps:
- Step 1: Create an account on eToro and complete your verification (personal or company);
- Step 2: Enter the EUR amount you want to deposit on the eToro platform;
- Step 3: Connect your ABN AMRO online account to deposit your selected fiat currency;
- Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.
About ABN AMRO
ABN AMRO Bank N.V. is a Dutch bank headquartered in Amsterdam. Formed in 1991 by the merger of Algemene Bank Nederland (ABN) and Amsterdamsche en Rotterdamsche Bank (AMRO Bank), it is now the third largest bank in the Netherlands, offering a comprehensive range of banking and financial services to retail, private and corporate clients.
Retail banking services offered by ABN AMRO include:
- Personal banking: Checking and saving accounts, mortgages, loans, and various insurance products;
- Wealth management: Advisory services and portfolio management, various savings and investment fund options, ETFs, bonds, and options trading.
ABN AMRO’s crypto policy
Though you can’t access crypto services from ABN AMRO directly, the bank supports crypto-related activities through brokers that comply with relevant financial regulations.
Indeed, the Dutch bank ABN AMRO is crypto-friendly. In fact, in 2019, ABN AMRO explored adding cryptocurrency storage facilities to its platform that would allow clients to deposit crypto alongside fiat currency in the same online banking environment.
However, the bank’s official webpage on cryptocurrency still states the bank remains cautious about cryptocurrencies as an investment vehicle and considers the risk associated with them “undesirable from an investment perspective for the time being.”
How to buy crypto safely
As a relatively new and untested territory, cryptocurrency markets are highly speculative, and little regulatory framework exists for their trading. In the Netherlands, for example, crypto-assets do not qualify as a financial instrument and do not fall under the supervision of the Netherlands Authority for the Financial Markets.
Furthermore, the speculative nature of cryptocurrencies and as well as the lack of recourse or protection available to crypto investors, have prompted a warning from the European Supervisory Authorities (ESAs). In their opinion, crypto-assets are “not suited for most retail consumers as an investment or as a means of payment or exchange.”
Fortunately, there are steps you can take to ensure you’re staying safe when investing in crypto. Here are a few essential guidelines for getting started with digital assets and how to best protect yourself and your money:
- Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are;
- Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
- Choose a reputable exchange: Ensure the crypto exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
- Secure your account: Use two-factor authentication and a strong password to protect your account;
- Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
- Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
- Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy crypto with ABN AMRO:
How to buy crypto with ABN AMRO?
You can buy crypto with ABN AMRO by depositing EUR to a licensed third-party trading platform that offers cryptocurrencies.
Can you buy crypto with ABN AMRO?
While ABN AMRO doesn’t offer crypto trading directly through its own platform, customers can connect their ABN AMRO accounts to a regulated cryptocurrency exchange to buy digital assets.
What crypto exchanges does ABN AMRO allow?
Customers can deposit funds from their ABN AMRO accounts to licensed crypto brokers, such as eToro.
What is ABN AMRO’s crypto policy?
ABN AMRO’s crypto policy allows its customers to use their accounts to buy, sell and trade digital assets through regulated exchanges.
