How to Buy Crypto with Banco Sabadell

How to Buy Bitcoin with Banco Sabadell

While Banco Sabadell does not directly offer crypto trading, clients can purchase Bitcoin through licensed Spanish digital asset exchanges. The bank permits Euro transfers to platforms registered with the Bank of Spain, ensuring compliance with EU financial regulations, such as MiCA.

Our top pick is Kraken, a Virtual Asset Service Provider (VASP) recognized by the Banco de España. The exchange supports over 320 cryptocurrencies for spot and futures trading.

Steps to Buy Bitcoin with Banco Sabadell on Kraken:

1. Create an Account: Register on Kraken and complete the identity verification (KYC) process by submitting a government-issued ID.
2. Deposit Euros: Transfer funds from your Banco Sabadell account via SEPA bank transfer. Some users may also have the option to deposit using a debit or credit card.
3. Purchase Bitcoin: Navigate to the BTC/EUR trading pair, enter the amount you wish to buy, and choose between a market or limit order.
4. Secure Your Assets: Before finalizing the transaction, review all details carefully. For added security, consider moving your Bitcoin to a personal wallet where you control the private keys.

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Is Banco Sabadell Crypto-Friendly?

Yes, Banco Sabadell allows Euro transfers to crypto exchanges registered with the Banco de España (BoS), ensuring compliance with Spain’s regulatory framework and the EU’s Markets in Crypto-Assets Regulation (MiCA).

The bank has demonstrated a strong interest in blockchain and financial technology. Through its BStartup initiative, Banco Sabadell has invested over €96 million in tech startups, including those in the fintech and blockchain sectors. The bank has also hosted crypto events, such as a hackathon featuring Vitalik Buterin, the founder of Ethereum.

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Alternative Crypto Exchanges for Banco Sabadell

Banco Sabadell customers looking to invest in cryptocurrency can use licensed exchanges that support Euro transactions and comply with Spain’s financial regulations. Below are three trusted platforms that allow SEPA deposits and withdrawals:

• Bitpanda – An Austrian exchange offering access to 3,000 cryptocurrencies, stocks, ETFs, and commodities. It supports SEPA transfers and provides a multilingual interface, including Spanish.
• Binance – The largest global cryptocurrency exchange, Binance, supports SEPA deposits and a wide range of 350 digital assets for spot and futures trading.
• Uphold – A multi-asset platform that can be used in Spanish, facilitates Euro deposits, and provides access to cryptocurrencies, fiat currencies, and precious metals.

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What Are the Fees?

Banco Sabadell customers using a digital asset exchange should be aware of the costs involved in deposits, withdrawals, and trading. Here’s a breakdown of potential fees when using Kraken with a Banco Sabadell account:

• Deposits: SEPA bank transfers from Banco Sabadell are typically free, but deposits made via debit or credit card may incur a processing fee depending on the card provider.
• Withdrawals: Fees for withdrawing cryptocurrency vary based on the asset and current network conditions. For Euro withdrawals via SEPA, it charges a low fixed fee of €0.09.
• Trading Fees: Spot trading fees start at 0.16% for makers and 0.26% for takers, with discounts available. Futures trading fees are even lower, ranging from 0.02% to 0.05%.

Being mindful of these fees and selecting the most affordable funding and trading methods can help optimize your investment strategy.

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About Banco Sabadell

Banco Sabadell, established in 1881, is Spain's fourth-largest private banking group, serving over 11.5 million customers across Spain, the UK, and Mexico. 

The bank offers a comprehensive range of financial services, including accounts, cards, mortgages, loans, investment funds, pension plans, and insurance. It operates a multichannel strategy that combines digital and in-person services to deliver an optimal customer experience.

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Final Thoughts

Banco Sabadell does not offer direct Bitcoin or cryptocurrency trading services. However, customers can securely invest in digital assets by using regulated exchanges such as Kraken, which supports SEPA transfers for Euro deposits.

Before making any transactions, it’s important to review Banco Sabadell’s latest policies and the fee structure of your chosen exchange to ensure cost efficiency and compliance with local regulations.