How to Buy Crypto with mBank

Can I Buy Bitcoin with mBank?

Yes, mBank customers can invest in Bitcoin by transferring funds to regulated cryptocurrency exchanges operating in Poland. These platforms comply with regulations set by the Polish Financial Supervision Authority (KNF). Payments can be made in Polish Zloty (PLN) or Euros using BLIK, bank transfers, or debit cards.

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How to Buy Crypto with mBank

mBank customers can buy cryptocurrencies through trusted exchanges like Kraken. As a licensed Digital Asset Service Provider (DASP) in Europe, Kraken accepts euro and PLN deposits via SEPA transfers, debit and credit cards, Apple Pay, and Google Pay. Users can then trade over 290 cryptocurrencies.

Here’s how to get started:

1. Create an Account: Sign up on Kraken’s website and complete KYC verification with a valid ID.
2. Deposit Funds: Go to the “Funding” section in your Kraken account and transfer euros or PLN from your mBank account.
3. Choose a Cryptocurrency: Select the digital asset you want to buy from Kraken’s extensive list.
4. Execute the Trade: Enter the amount, review the details, and confirm the purchase.

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What are the Fees?

For mBank customers using cryptocurrency exchanges, understanding fees is essential to avoid unexpected costs. Here is an overview of the costs with Kraken as an example:

• Deposits: SEPA euro deposits are free, while debit and credit card deposits have a 3.75% fee.
• Withdrawals: SEPA euro withdrawals are free. Crypto withdrawals incur variable network fees based on the token and blockchain.
• Trading: Spot trading fees range from 0.25% to 0% for makers and 0.4% to 0.1% for takers. Futures trading fees are 0.02% for makers and 0.05% for takers.

Kraken’s low fees make it a cost-effective alternative to popular retail exchanges like Coinbase, which charge over 2% for trades.

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mBank Cryptocurrency Policy

mBank supports cryptocurrency investments, allowing customers to transact with regulated exchanges in Poland. The bank adheres to the country’s legal framework, complying with regulations established by the Polish Financial Supervision Authority (KNF) and the National Revenue Administration.

Cryptocurrency transactions in Poland are subject to strict Anti-Money Laundering (AML) rules under the Polish AML Act. mBank ensures compliance with these standards, providing a secure and regulated environment for digital asset transactions with consumer protections.

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About mBank

mBank is Poland’s fifth-largest banking group, serving 5.7 million retail clients and 36,000 corporate clients across Poland, the Czech Republic, and Slovakia. Known for its digital-first approach, mBank provides various services, including retail and corporate banking, investment products, leasing, brokerage, and insurance.

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Bottom Line

mBank customers can securely purchase Bitcoin by using regulated exchanges like Kraken, which comply with Polish financial laws. 

With support for PLN and euro transfers, straightforward deposit methods like BLIK, and transparent fee structures, the process is accessible and compliant.