![How to Buy Crypto with ING [2023] | Step-by-Step](https://finbold.com/app/uploads/2023/03/ING-Bank-1-1024x683.jpg)
Summary: ING Bank doesn’t offer customers the chance to buy cryptocurrencies on its own platform. Instead, ING 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 ING, investors will need to sign up with a licensed crypto-friendly multi-asset investing platform like eToro and deposit EUR from their ING account.
Can you buy crypto with ING?
You can buy crypto with ING, but you need to connect to a licensed broker that offers cryptocurrencies. As mentioned above, this is because ING does not provide direct access to cryptocurrency services through its online banking platform.
How to buy crypto with ING?
The best way to buy Bitcoin (BTC) or any other cryptocurrency with ING 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 ING 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 ING 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 ING
ING is a Dutch bank headquartered in Amsterdam that operates as a subsidiary of the ING Group, one of the largest European companies by revenue. It offers retail and wholesale banking services to clients in over 40 countries (with a solid base in Europe).
Retail banking services offered by ING include:
- Personal banking: Checking and saving accounts, mortgages, loans;
- Business banking: Business checking accounts, business credit cards, business financing options;
- Wealth management: Financial planning and advisory services, various savings and investment fund options, as well as pension plans.
ING’s crypto policy
ING is crypto-friendly. For example, Pyctor (now part of GMEX Group), the fintech providing digital assets network and custody technology, came out of “ING’s Innovation Lab.” So, overall, it seems the Dutch bank is taking a proactive approach to the cryptocurrency space and is open-minded about new digital innovations.
And though you can’t access crypto services from ING directly, the bank supports crypto-related activities through brokers that comply with relevant financial regulations.
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 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 ING:
How to buy crypto with ING?
You can buy crypto with ING by depositing EUR to a licensed third-party trading platform that offers cryptocurrencies.
Can you buy crypto with ING?
While ING doesn’t offer crypto trading directly through its own platform, customers can connect their ING accounts to a regulated cryptocurrency exchange to buy digital assets.
What crypto exchanges does ING allow?
Customers can deposit funds from their ING accounts to licensed crypto brokers, such as eToro.
What is ING’s crypto policy?
ING’s crypto policy allows its customers to use their accounts to buy, sell and trade digital assets through regulated exchanges.
