In this article, I will talk about the How to Buy Crypto with BoursoBank. Although BoursoBank does not allow direct crypto purchases, it is possible to invest in digital currencies through other compatible exchanges.
I will assist you in connecting your BoursoBank account, selecting an exchange platform, and performing secure crypto transactions, providing you with a smooth and efficient experience.
What is BoursoBank?
BoursoBank, previously Boursorama Banque, is a notable online French bank, a subdivision of Société Générale.
It has been recognized as the most affordable bank in France for 17 years in a row. BoursoBank offers free current accounts, investment products, insurance, and retirement savings accounts, among other services.
With over 6.5 million clients, the bank allows users to fully control their finances online which displays its modern and customer-centered approach to banking.
How to Buy Crypto with BoursoBank
Instructions for Purchasing Cryptocurrency with BoursoBank through Kraken
Create an Account
Make an account on Kraken and undergo identity verification (KYC).
Deposit Euros
Visit the Funding page, choose your preferred deposit method, and send euros from your BoursoBank account.
Choose Cryptocurrency
After your funds are received, select the cryptocurrency of your choice and ensure your trading currency is set to EUR.
Confirm Purchase
Input the amount you want, check all transaction details, and complete the trade.
Other Place Where to Buy Crypto with BoursoBank
Bitstamp
Due to the compatibility of European bank transfers like SEPA with Bitstamp, purchasing crypto through BoursoBank is efficient and inexpensive.
Bitstamp’s user interface is easy to navigate and well-secured, making it one of the better exchanges alongside supporting numerous cryptocurrencies.
For users of BoursoBank wanting to delve into the crypto world, joining is easy because of their helpful customer support and crypto trading exchange. Furthermore, her BoursoBank clients won’t have any issues finding trusted sites.
Coinhouse
Coinhouse is probably the best place to buy cryptos with BoursoBank, as it facilitates a straightforward and safe process for all users located in Europe.
The platform’s integration with SEPA payments enables instant deposits, and the interface is perfect for both beginners and skilled traders.
Coinhouse offers a limited list of cryptocurrencies but makes sure the most important ones are included so users can invest in them. Also, his users’ concern is addressed by the company’s strong compliance focus and regulatory crypto buying standards.
Security Tips When Buying Crypto
Do Not Use Anonymous Exchanges
Do not use unknown or poorly secured exchange websites.
Withdraw Assets Immediately (if possible)
Use hardware or software wallets instead of exchanges for storing crypto.
Avoid Cybercafe Networks (or other Clients)
Only access crypto platforms over private networks.
Protect Recovery Keys
Safeguard your social recovery phrases and keys from malicious online threats.
Be Aware of Clickjacking Fraud
Do not share login details or click on suspicious links.
Verify Account Safety
With permission, verify that there is no unauthorized account access every so often.
Fees and Limits to Know
As with any financial service, understanding the fees and transaction limits when purchasing crypto with BoursoBank is vital. When it comes to CoinShares crypto ETPs, they charge fees between 0% to 1.5% per annum based on the specific asset.
Their external crypto exchange also has a trading fee ranging from 0.3% to 1.5%, and a deposit fee on card payments up to 3.75%. SEPA transfers on the other hand, are usually free.
BoursoBank has a limit on transfers such as €5000 for instant payments and higher for standard bank transfer between accounts, and a payment card limit of €50000 a month which can be adjusted upon request. Always check the policies of both the bank and the exchange prior.
Risk & Considerations
Market Volatility
The period of increased or decreased activity within the market is prone to intense swings for an indefinite period of time.
Regulatory Uncertainty
Consideration of available parts of law may be subject to amendments.
Security Threats
Attacks aimed at phishing, scamming, and hacking are still on the rise globally.
Limited Recourse
Unlike bank services where you can recover a lost account, crypto accounts, once lost, cannot be retrieved.
Bank Restrictions
BoursoBank and its affiliated exchanges are free to suspend or process crypto related requests at their own discretion.
Pros & Cons
| Pros | Cons |
|---|---|
| Supports investment via regulated ETPs | Does not support direct crypto purchases |
| Backed by a trusted French banking institution | Limited crypto asset selection |
| Compatible with major crypto exchanges via SEPA | Transaction limits may restrict large purchases |
| Strong security and user-friendly mobile app | Additional fees may apply on third-party platforms |
| Option to invest through traditional bank tools | Regulatory changes could impact crypto availability |
Conclusion
To sum up, purchasing crypto through BoursoBank provides a seamless and safe experience for users, masterfully combining tech with traditional banking.
Although crypto cannot be purchased directly, investments can be made through integrated services with BoursoBank. Knowledge of the relevant fees, limits, security measures, and investment guidelines contribute towards a successful investment.
If these steps and precautions are taken, sorely lacking in crypto investments, a crypto journey can easily be kicked off through BoursoBank while easily managing digital assets.
