Are you a Nordea Bank user and unable to buy cryptocurrency? Do not worry, this article will help you in buying cryptocurrency through your Nordea Bank account. You need to use a cryptocurrency trading platform to buy it as the bank does not allow direct purchases.
Some of the trusted crypto trading platforms are Uphold EU, Coinbase Exchange, and Kucoin among others.
You can deposit funds from your Nordea Bank account to these trading platforms. On reading the article further you will be able to deposit funds by following the method prescribed.
What is Nordea Bank?
Nordea Bank is a Banking service provider with its headquarters in Stockholm, Sweden. With more than 11 million users spread along 700 branches, the bank provides various services including personal, commercial, wholesale Banking and Wealth management services.
The Nordea Bank is among the top 10 banks in Europe and its services are spread over the region of the UK, USA, Singapore etc.
Apart from the basic bank functions, the Bank also provides investor services, Bank to Bank services, finance and others.
The Bank is also one of the largest asset managers among the Nordic countries and also has a presence in the EU, Asia and other popular regions.
Best Crypto Exchange for Nordea Bank?
There are various cryptocurrency trading platforms available in the market. But only a few of them provide secure and pocket-friendly services.
There are a few things that one should take care of while using any trading platform. These include security, acceptance of the app worldwide, headquarters in trusted countries and cost-efficient services among others.
Out of a pool of trading platforms, these are a few that you must try if you are looking for a reliable crypto trading platform.
Uphold EU
Uphold EU is one of the best trading apps for Cryptocurrency. There are rewards for trading cryptocurrency, you can earn up to 13% of the value of the cryptocurrency you hold.
Nordea Bank users can deposit funds in Euros using the SEPA bank transfer method. There are no charges for Nordea Bank account holders.
You can go to the deposit section and select Eurozone bank account as the payment method. After successful payment, crypto coins will be credited to your crypto wallet,
Binance
Another excellent app for cryptocurrency trading is Binance. It has a user base that is spread around all parts of the globe.
The app offers secure asset funds for users under which it stores up to 10% of all holdings under a secure system. Nordea Bank account holders can deposit funds in their Binance accounts by paying a nominal deposit fee of EUR 1.
You can deposit funds by logging in to your Binance account, then select your currency and choose Nordea Bank transfer as the payment method. Complete the transaction and you are ready to buy cryptocurrencies.
Coinbase Exchange
Coinbase exchange is one of the best trading apps available around the globe. The app offers deep liquidity in cryptocurrency trading and allows users to easily trade their holdings.
Coinbase exchange does not allow Nordea Bank users to directly purchase crypto coins using bank transfers.
To buy crypto, Nordea account holders will have to fund cash in their Coinbase exchange account. It can take up to 3 days to reflect the amount in your wallet. There are no fees on deposits for Nordea Bank customers.
Kucoin
Kucoin is the world’s leading blockchain and crypto exchange platform. The app offers more than 700 cryptocurrencies, you can trade any cryptocurrency of your choice.
You can purchase cryptocurrency using credit cards with the app. Nordea Bank users can use the SEPA bank transfer method to deposit funds in their Kucoin account.
There are no charges for deposits, a nominal fee is charged at the time of withdrawal. With a higher value of the transaction, the imposition fee reduces.
Bittrex
With the Bittrex app, you can check the prices of various cryptocurrencies and monitor the trends. The app offers lightning-fast transaction speed for smooth transactions. Nordea Bank account holders can check their eligibility to trade by logging in to their Euro wallet.
For Nordea Bank customers, the formality of filling out forms is done away with, you can directly deposit funds to your wallet through SEPA bank transfers.
There are no deposit fees for Nordea Bank customers for any amount of deposits. At the time of withdrawal, a nominal conversion fee will be charged.
How to Buy Crypto With A Nordea Account?
Nordea Bank does not allow you to buy crypto directly. You can use various trading platforms available on the internet to buy and sell cryptocurrency.
Coinbase exchange and Uphold EU are among the trusted trading platforms to buy cryptocurrency.
You can buy cryptocurrency using Coinbase Exchange by following these steps.
- Firstly sign up on the Coinbase exchange using your email and other details.
- After successfully signing up and verifying you can log in using your credentials.
- Next to the login page, you will find a buy/sell option.
- To buy Cryptocurrency select the ‘buy’ option and use the ‘sell’ option to sell it in future.
- On the next page, you have to enter the amount for the purchase or its denomination.
- Select Nordea Bank as your payment option and click on preview buy
- Cryptocurrency is credited to your account after successful payment from the Bank.
Nordea Bank Cryptocurrency Policy
Nordea Bank is a crypto-friendly bank as it allows you to purchase cryptocurrency by using your accounts. You cannot buy cryptocurrency directly from Nordea Bank as it is a banking service provider.
You can use various cryptocurrency trading platforms to buy using your Nordea account. The bank with its accommodative policy allows you to transfer funds to trading platforms.
The Bank allows you to transfer funds only to a few selective cryptocurrency exchanges.
If any transfer is done to some offshore account the bank can freeze your funds therefore try to use only trusted trading platforms.
What are the Fees?
There are no fees levied by Nordea Bank for the purchase of Cryptocurrency from a majority of the trading platforms. Platforms like Uphold and Coinbase impose zero fees for trading over 250 crypto assets.
For other platforms also, the charges are nominal, up to 0.6-1%.
Nordea Bank does not impose any fees directly for the purchase of cryptocurrency as it is not a platform for the sale or purchase of cryptocurrencies.
But the bank levies fees on the deposits made to the trading platforms and that too only on a few trading platforms.
Final Thoughts
On reading the article, you must be now aware of the position of Nordea Bank in buying cryptocurrency. The bank does not allow users to buy or sell cryptocurrencies directly as it is not one of the trading platforms.
But the bank enables transfers to various trading platforms for free of cost. Some of the best trading platforms for Nordea Bank users include Uphold EU and Coinbase Exchange.
Overall the article clarifies the policy of Nordea Bank as that of a crypto-friendly bank. It is one of the few banks that explicitly deny access to their users for the purchase of cryptocurrency.
You can follow the steps above in the article to use Nordea Bank for Cryptocurrency.
