This guide will provide you with a step-by-step process on how to buy crypto with DEGIRO brokerage and explain the limitations. It will also offer alternative options to purchase cryptocurrencies safely and complete the transactions smoothly.
Summary
DEGIRO is a popular online broker in Europe that facilitates investments in stocks, ETFs, funds and other financial assets. However, it does not allow direct crypto purchases currently. This is common as most traditional brokers are yet to adopt cryptocurrencies directly.
This guide focuses on understanding how to align DEGIRO services with crypto investments through external platforms. Based on research, eToro emerges as one of the best choices for Europeans due to its wide selection of over 3,000 coins and stocks, along with strong regulatory compliance as a licensed financial intermediary.
Step-by-Step guide on how to buy Crypto with DEGIRO:
Step 1: Register an account on eToro. Visit etoro.com and click “Join Now” to create a profile.
Step 2: Complete the KYC verification. eToro will require documents like ID proof, and address and take some time for approval.
Step 3: Deposit funds from your bank. Once verified, go to “Deposit Funds” and link your DEGIRO bank account. The minimum deposit is €50, with no fees for SEPA transfers.
Step 4: Purchase cryptocurrencies. Use the deposited funds in your eToro wallet to buy desired coins like Bitcoin, Ethereum, etc. by entering the amount or clicking “Buy”.
While every exchange has a unique onboarding process, the purchase flow remains similar once registered and verified. Always remember to research price movements and only invest amounts you can afford to lose.
What is DEGIRO’s stance on cryptocurrencies?
DEGIRO offers crypto exposure through CFDs or invested companies but does not enable direct crypto holdings or transfers currently. It has imposed restrictions and high fees for such derivative offerings as the market evolves.
What if DEGIRO is not crypto-friendly?
If DEGIRO account restrictions prevent alignments with crypto, options include opening a separate bank account supportive of digital assets or using P2P money transfer services to deposit on exchanges independently of DEGIRO. Always comply with local regulations for tax reporting.
Conclusion
This guide covered the process of buying cryptocurrencies through eToro despite DEGIRO’s limitations by linking a bank account, depositing funds and making purchases after registration and verification. Approach crypto cautiously while seeking ongoing education for balanced investing decisions.
