Summary: Danske Bank doesn’t offer crypto trading directly on its platform. However, customers can use their Danske Bank accounts to transfer funds to a third-party broker or a crypto exchange to purchase digital assets like Bitcoin (BTC) and Ethereum (ETH). If you have a Danske Bank account and would like to buy your favorite cryptocurrency, we recommend signing up with an investment platform eToro.
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Can you buy crypto with Danske Bank?
It is possible to buy crypto with Danske Bank, but you will need to use a third-party brokerage or crypto exchange. Danske does not have a platform to buy, sell, hold, or trade digital assets. Therefore, if one wants to invest in this asset class, one will have to use a third party that supports the cryptocurrency of interest.
How to buy crypto with Danske Bank?
The best way to buy Bitcoin (BTC), Ethereum (ETH), or any other cryptocurrency with your Danske Bank account is to use a regulated broker. It is important that one uses a licensed and registered broker in their local jurisdiction to mitigate against several risks inherent in using unregulated platforms.
One of the leading brokers and exchanges that one can use to buy crypto with Danske Bank is eToro. It supports more than seventy different digital assets and offers a host of features ideal for crypto investors, including copy trading, staking, holding, and actively trading.
How to buy crypto with Danske Bank: 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 fiat amount you want to deposit on the eToro platform;
- Step 3: Connect your Danske Bank account to deposit your selected fiat currency;
- Step 4: Finally, head over to the crypto marketplace, locate the cryptocurrency of interest, then purchase it.
Disclaimer: Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Crypto on eToro. Source: eToro.com
About Danske Bank
Danske Bank A/S is a Danish multinational financial services and insurance company that was established in October of 1871 as Den Danske Landmandsbank. The bank underwent a rebrand in 2000 and adopted its current name.
Over its 150+ years, Danske Bank has been serving both retail and corporate clients in various fields, including agriculture, industrialization, and technology, while expanding its footprint. Currently, you can find one of its branches across Sweden, Finland, Norway, Northern Ireland, and its home country, Denmark.
The bank also maintains strategic offices in Ireland, the US, the UK, Poland, and India.
Customers have access to the following services:
- Personal banking: Banking, mortgages, loans, asset financing, savings, current accounts, insurance, and credit cards;
- Corporate banking: Investment banking services, business loans, current and savings accounts, foreign exchange (forex), asset and trade financing, and debit cards;
- Private banking: Personalized services for the rich and high network individuals (HNIs), including wealth and asset management.
Danske Bank crypto policy
Danske Bank has opted to avoid handling cryptocurrencies and supporting any crypto trading activities directly on its own platforms. However, it does not restrict its customers from transferring funds to crypto exchanges to buy Bitcoin or other cryptocurrencies using their debit cards and credit cards.
This article posted by Danske Bank on their website states the bank’s current cryptocurrency rules on credit card transactions and deposits as follows (updated as of January 2023):
“For customers that deposit funds that stem from investments in crypto currencies, we will treat them in the same way as deposits of funds from other types of investments. Furthermore, we do not block the use of a credit card issued by Danske Bank in connection with the trading of cryptocurrencies. As with all other credit card transactions, customers must follow applicable anti-money laundering procedures and comply with applicable laws.”
How to buy crypto safely
Cryptocurrencies are becoming more accessible to the masses as they gain in popularity. However, their popularity has also attracted the wrong crowd looking to scam investors. Here’s a little guide on how one can protect themselves while buying their favorite cryptocurrency:
- Research the cryptocurrency you want to buy : Make sure you understand different types of crypto, how they work, and what the risks are;
- Research the platform you prefer to use to buy it: Stick to licensed and regulated platforms, especially those that are regulated to operate in your local jurisdiction;
- Learn to self custody your assets: Taking full responsibility of your crypto assets is the safest way to protect them once you acquire them;
- Protect your online accounts: If you opt to store your fiat or crypto on an exchange, ensure that you implement safe account practices such as using strong passwords, enabling 2-factor authentication (2FA), and avoiding using public devices to access your assets;
- Monitor your investments: Always track your portfolio, especially if you are holding your assets online on an exchange.
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 Danske Bank
How to buy crypto with Danske Bank?
You can buy crypto with Danske Bank by depositing funds in a licensed third-party cryptocurrency brokerage and exchange platform.
How to buy Bitcoin with Danske Bank?
Danske Bank Bitcoin users can use their bank accounts to transfer funds to regulated online brokers that sell a variety of assets, including Bitcoin. Danske Bank has no credit card limitations on transferring funds to buy Bitcoin and treats the transactions to buy crypto as any other investment product.
Does Danske Bank allow cryptocurrency?
Danske Bank does not support the purchase or trading of cryptocurrencies, however, its customers can still invest in the nascent asset class through licensed and regulated third-party platforms.
What crypto exchanges does Danske Bank allow?
Danske Bank allows funds to transfer to and from platforms that conform with the EU’s legislation on Markets in Crypto Assets (MiCA).
What is Danske Bank’s crypto policy?
Generally, the bank advises its clients against investing in digital assets. However, since the market has attracted a lot of interest, the bank has previously noted that they should approach investments in this field cautiously.
Is Danske Bank crypto-friendly?
Danske Bank is not looking to stop the mass adoption of cryptocurrencies. However, it does maintain a cautious outlook, even advising its clients to avoid investing in digital assets.
