Why eToro is Recommended for Bank of Ireland Customers
- eToro is regulated by the Cyprus Securities and Exchange Commission (CySEC), which ensures a secure trading environment.
- It supports instant Euro deposits via SEPA transfer, debit/credit cards, PayPal, Neteller, and Skrill.
- Low trading fees starting from just 1%. No deposit or withdrawal fees for Bank of Ireland customers.
- User-friendly interface and mobile app make buying crypto quick and easy.
- Access to copy top crypto traders using the patented CopyTrader feature.
- Supports trading of crypto, stocks, ETFs, commodities, forex, indices on one platform.
Open an eToro account today to start buying crypto with Bank of Ireland!
Step-by-Step Guide to Buy Crypto with Bank of Ireland
Follow these simple steps to start your crypto investing journey:
Step 1: Create an eToro Account
Visit eToro’s website and click “Join Now”. Provide your personal details to register for a new account.
Step 2: Verify Your Identity
Upload documents for identity verification as per eToro’s KYC norms. This is required to prevent fraud and money laundering.
Step 3: Link Bank of Ireland Account
Access the “Deposit Funds” section on eToro. Click on “Bank Transfer” and enter your Bank of Ireland account details.
Step 4: Deposit Euros
Initiate a SEPA transfer to deposit Euros into your eToro account directly from Bank of Ireland. Amounts over €500 are processed within 1 business day.
Step 5: Buy Crypto
Use the deposited Euros to buy your preferred crypto like BTC, ETH, XRP, etc. Click on “Trade” and enter the amount after selecting the crypto asset.
And that’s it! Once your order is fulfilled, the purchased crypto will be reflected in your eToro portfolio.
Bank of Ireland’s Approach Towards Cryptocurrencies
While Bank of Ireland currently does not provide direct crypto trading, it allows customers to engage with regulated crypto platforms. Transferring funds from Bank of Ireland accounts to eToro and other Irish/European exchanges is permitted.
The bank takes a progressive stance on digital currencies and aims to comply with all relevant regulations. This grants clients the flexibility to invest in crypto securely.
Fees for Buying and Selling Crypto
Here are the typical fees to consider when buying crypto from Bank of Ireland funded accounts:
- Trading Fees – Charged for executing buy/sell orders. eToro has transparent fees starting from just 1%.
- Deposit Fees – Bank transfers and SEPA deposits are free. Card deposits have a fee of 1.5% for Ireland users.
- Withdrawal Fees – No withdrawal fee for Bank of Ireland account holders on eToro.
Overall, eToro offers competitive pricing compared to other Irish exchanges like Coinbase, which has trading fees of up to 4%.
What should I do if Bank of Ireland does not allow transfers to crypto platforms?
You can open a new account with a ‘crypto-friendly’ bank that allows transactions to and from regulated crypto exchanges/platforms. NeoBank providers like Revolut offer accounts that can be easily linked to platforms like eToro for buying crypto.
Alternatively, use a dedicated crypto platform that supports buying crypto with debit/credit cards issued by Bank of Ireland. The fees are generally higher but it avoids bank transfers completely.
Conclusion
Although Bank of Ireland does not directly facilitate crypto trading, customers can invest in digital assets securely by transferring funds to regulated platforms like eToro.
eToro enables seamless Euro deposits through Bank of Ireland accounts with negligible fees. The user-friendly interface makes buying crypto assets like Bitcoin straightforward even for beginners.
We recommend eToro as the best crypto investing platform for Bank of Ireland users due to its regulatory compliance, asset diversity, CopyTrader feature, and competitive fees.
