How to Buy Crypto with BBVA

How to Buy Bitcoin with BBVA

BBVA customers can purchase Bitcoin through regulated cryptocurrency exchanges in Spain that support euro deposits. While BBVA Bank does not offer direct crypto trading, it allows transfers to platforms that comply with financial regulations in the European Union.

The best option is Kraken, which is registered with the Banco de España as a Virtual Asset Service Provider (DASP). This platform offers fast and safe euro deposits to trade Bitcoin and 330 other crypto assets.

Steps to Buy Bitcoin and Crypto with BBVA on Kraken:

1. Create an Account: Sign up on Kraken and complete identity verification (KYC) with a government-issued ID.
2. Deposit EUR: Transfer funds from your BBVA account via SEPA bank transfer or use a BBVA debit/credit card.
3. Buy Bitcoin: Select BTC/EUR, enter the amount, and choose a market or limit order.
4. Confirm and Secure: Review the transaction and finalize the purchase. For added security, consider moving Bitcoin to a self-custody wallet.

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Is BBVA Crypto-Friendly?

Yes, BBVA supports crypto transactions and allows transfers to Banco de España-registered exchanges, ensuring full compliance with KYC, AML, and MiCA regulations. 

While it does not currently offer digital asset investing services in Spain, customers can still fund regulated platforms under the Markets in Crypto-Assets Regulation (MiCA), which provides a unified framework for crypto services across the EU.

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Alternative Crypto Exchanges for BBVA

If you're a BBVA customer looking to carefully evaluate your options, here are three alternative and regulated crypto exchanges that support euro transactions:

• Binance: The largest global exchange, holding a VASP license from the Bank of Spain. Binance offers over 350 cryptocurrencies, along with staking services. It charges 1% trading fees.
• Uphold: A multi-asset platform supporting euro transactions and providing access to over 280 cryptocurrencies, fiat currencies, and precious metals. It charges 0% fees but includes a 1.5% spread.
• Coinbase: Licensed in Spain but based in the United States, Coinbase supports euro deposits via SEPA and offers 250 crypto assets. It charges 2% fees.

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What Are the Fees?

Understanding trading fees is essential for managing crypto investments. Here’s a breakdown of the costs when using Kraken with a BBVA account:

• Deposits: SEPA bank transfers are free, while credit/debit card deposits may have a small processing fee.
• Withdrawals: Crypto withdrawal fees vary by asset and network conditions. SEPA withdrawals cost €0.09.
• Trading Fees: Spot trading fees start at 0.16% for makers and 0.26% for takers, with volume-based discounts. Futures trading fees range from 0.02% to 0.05%.

BBVA customers can minimize their overall transaction fees by using SEPA for deposits and withdrawals.

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About BBVA Bank

BBVA is a Spanish bank with a strong presence in Europe and Latin America, offering personal and business accounts, loans, and digital payments. Its BBVA Mobile Banking app makes it easy to manage funds and transfers. Crypto-related transactions may be subject to restrictions or delays, so it’s best to check BBVA’s latest policies before buying Bitcoin.

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Final Thoughts

BBVA does not offer Bitcoin investing services directly, but customers can buy crypto assets through regulated exchanges like Kraken. With a verified account and a SEPA transfer, purchasing Bitcoin or other crypto assets is an easy process.

Checking fees and BBVA’s latest policies helps avoid issues, and using an exchange with an active VASP license will help reduce any custody risks.