Summary: Piraeus Bank does not offer direct services for purchasing cryptocurrencies. However, those interested in buying digital assets can register with a reliable and CySEC-compliant trading platform. The bank allows its customers to transfer Euros to these exchanges, enabling them to buy, sell, and trade Bitcoin and various other digital currencies.
From our detailed evaluation, we concluded that eToro is the leading choice for customers of Piraeus Bank. This platform is under strict supervision by European financial regulatory bodies, including the CySEC, ensuring compliance with Anti-Money Laundering and Counter-Terrorist Financing regulations. eToro provides access to over 3,000 assets, including cryptocurrencies, stocks, and ETFs with competitive fees.
- Regulated with tier-1 regulators across Europe and trusted by over 30 million users.
- Buy, sell and trade over 3,000 Cryptocurrencies, Stocks, ETFs, Commodities and Indices.
- Fast and low-fee EUR deposits through Bank Transfer, SEPA, Credit Card and more.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can I Buy Bitcoin with Piraeus Bank?
Certainly, Piraeus Bank enables its customers to smoothly transfer EUR to licensed cryptocurrency exchanges in Greece. Once your capital is deposited into your account on the chosen trading platform, you can purchase Bitcoin, Ethereum, stablecoins, and other digital currencies. It's crucial to select platforms sanctioned by the Cyprus Securities Exchange Commission (CySEC) and other relevant European regulatory bodies to ensure the security of your funds.
How to Buy Crypto with Piraeus Bank
For clients of Piraeus Bank looking to enter the world of digital currencies, the best method is to use a regulated digital asset exchange. Our recommended choice for a smooth investment journey is eToro. This platform is under the watch of the CySEC and boasts a diverse portfolio of over 3,000 cryptocurrencies, stocks, and ETFs. With eToro, transferring Euros from your Piraeus Bank account is straightforward, with options like debit and credit cards, bank transfers, SEPA and PayPal available.
Begin trading thousands of assets with Piraeus Bank by following these steps:
- Account Setup: Begin by creating an account on eToro and complete the necessary identity verification processes.
- Currency Selection: Once logged in, click ‘Deposit Funds’ and select Euros as your preferred currency.
- Execute the Deposit: Follow the simple instructions to securely transfer your funds from Piraeus Bank.
- Begin Trading: With your funds available in your account, navigate to the search bar, find your desired digital currency, and make your investment.
Piraeus Bank Cryptocurrency Policy
Piraeus Bank adopts a progressive stance towards digital currencies, allowing its customers to participate in cryptocurrency trading through reputable exchanges. Our recommended platform is eToro (Europe) Ltd., which is regulated by the Cyprus Securities Exchange Commission (CySEC). Serving customers throughout Greece and the wider European area, eToro's headquarters are situated at 4 Profiti Ilia Street, Kanika Business Centre, 7th floor, Germasogeia, 4046, Limassol, Cyprus.
Digital Asset Investing Fees
When engaging in cryptocurrency investing with Piraeus Bank, it's vital to understand the associated fees for an easy and transparent trading experience. Below is a summary of common costs you might encounter when using an exchange:
- Trading Fees: This cost is the difference between the buying and selling prices of cryptocurrencies. On platforms like eToro, this spread is typically under 1%, offering an affordable choice for traders.
- Deposit Fees: The expense of depositing funds into your trading account varies based on the payment method. Bank or SEPA transfers usually come without a charge, whereas credit card deposits might be above 2%.
- Withdrawal Charges: Fees for transferring your digital assets out can differ for each currency. For example, Bitcoin is generally a standard fee of about 0.0005 BTC.
In comparison to other exchanges, such as Coinbase, which can impose transaction costs of up to 5%, eToro is distinguished for its extensive financial services and competitive fee framework. This positions it as the best platform for customers of Piraeus Bank looking to invest in cryptocurrencies with low fees.
What is Piraeus Bank?
Piraeus Bank, founded in 1893 and headquartered in Athens, is one of Greece's largest banks, offering a comprehensive suite of services, including retail and corporate, and investment banking, and asset management. With a network of over 1,500 branches and 4,500 ATMs across Greece and a presence in Romania, Bulgaria, Serbia, Cyprus, and Albania, Piraeus Bank is listed on the Athens Stock Exchange and is a member of the European Banking Federation.
One of the standout offerings of the bank is the Winbank Mobile App, Greece's most popular mobile banking platform. This cutting-edge app is a testament to the bank's commitment to innovation and modern financial solutions. Through Winbank, clients can manage their finances with ease and security, reflecting Piraeus Bank's dedication to providing simple and advanced services that align with the dynamic needs of today's banking customers.
Final Thoughts
To conclude, Piraeus Bank provides a secure method for its clients to venture into the cryptocurrency world. While the bank does not directly offer trading services, it facilitates the transfer of Euros to regulated and trustworthy trading platforms like eToro. We recommend this exchange for its compliance with the CySEC regulations, offering a diverse portfolio of over 3,000 assets and a simple interface for easy trading.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Crypto Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
