Buying cryptocurrencies directly through BNP Paribas is not currently offered. Instead, individuals typically use specialized cryptocurrency platforms and exchanges to purchase digital assets. This guide focuses on understanding cryptocurrency investments alongside BNP Paribas’ traditional banking services. We suggest reputable platforms for buying crypto assets and provide tips for managing your portfolio.
We recommend using eToro, a leading global investing platform that allows you to purchase over 70 cryptocurrencies. eToro is regulated by tier-1 financial authorities and enables easy connections to your BNP Paribas account.
Step-by-Step Guide: Buy Crypto with BNP Paribas
Here is a simple step-by-step process for buying cryptocurrencies using your BNP Paribas account:
Step 1: Register an Account on eToro
Visit eToro’s website and click on “Join Now”. Provide your details to sign up for an account. Complete eToro’s Know Your Customer (KYC) verification process to activate your profile.
Step 2: Link Your BNP Paribas Account
Once your eToro account is verified, you can connect your BNP Paribas bank account details. This allows you to easily deposit and withdraw Euro funds.
Step 3: Deposit Funds
After linking your BNP Paribas account, deposit EUR funds that you will use to purchase cryptocurrencies. eToro provides multiple deposit options including bank transfers, debit/credit cards, e-wallets, and more.
Step 4: Buy Cryptocurrencies
Use the EUR funds to buy popular cryptos like Bitcoin, Ethereum, Litecoin, etc. eToro enables quick crypto purchases with low fees and competitive exchange rates.
Although policies differ across platforms, the purchase process remains fairly straightforward once accounts are setup and verified. With education and vigilant monitoring, crypto investments can be managed prudently.
BNP Paribas’ Stance on Cryptocurrencies
BNP Paribas currently does not provide direct cryptocurrency services. However, their policies allow using BNP Paribas accounts to facilitate transactions on third-party regulated exchanges like eToro. Customers should contact BNP Paribas to clarify latest policies before initiating purchases.
What If BNP Paribas Restricts Crypto?
If BNP Paribas imposes restrictions, viable alternatives would be:
Open an Additional Bank Account
Consider opening a new bank account with institutions that allow crypto exchange deposits/withdrawals. This provides flexibility alongside your primary BNP Paribas account.
Use Compatible Payment Services
Utilize intermediary services like PayPal that permit crypto platform transactions while integrating with BNP Paribas accounts. Although fees may be higher, it grants access.
Once any of these options are setup, you can resume following the buying process outlined earlier.
Conclusion
The fastest way to buy crypto with BNP Paribas is by using regulated exchanges like eToro. Although BNP Paribas does not directly offer crypto trading, connecting your bank account to platforms bolsters access and security. Be sure to research investments thoroughly and implement risk management despite crypto’s unpredictability.
