How to Buy Crypto with Bunq

Can I Buy Bitcoin with Bunq?

Yes, Bunq customers can buy Bitcoin and other cryptocurrencies using regulated Dutch exchanges regulated by the Authority for the Financial Markets (AFM). The bank approves transfers to platforms that meet European regulatory requirements. You can fund your account through iDEAL, IBAN, SEPA transfers, and credit or debit cards, simplifying the signup process.

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How to Buy Crypto with Bunq

Bunq users can easily purchase cryptocurrency through regulated platforms such as Kraken, which is registered as a Virtual Asset Service Provider (VASP) with De Nederlandsche Bank under Registration No. R194010. Kraken accepts euro deposits through SEPA, bank transfers, credit or debit cards, and PayPal, offering access to over 280 cryptocurrencies.

Here’s how to start trading crypto with Bunq on Kraken:

1. Sign Up for an Account: Head to Kraken’s official site and create an account. You’ll need to go through the Know Your Customer (KYC) verification to meet regulatory guidelines.
2. Deposit Funds: After logging in, navigate to the ‘Funding’ section of your dashboard. Select SEPA as your deposit method and transfer euros from your Bunq account.
3. Choose Crypto: Once your funds have been deposited, browse through the extensive range of cryptocurrencies offered.
4. Complete Purchase: Decide how much of the selected cryptocurrency you want to purchase, double-check the transaction details, and confirm the purchase to complete the process.

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What are the Fees?

It's important to understand the fee structure when using an exchange. Kraken doesn’t charge any fees for Euro (EUR) deposits made via SEPA or bank transfers from your Bunq account.

Kraken’s trading fees are competitive, starting at 0.16% for spot trades and ranging from 0.02% to 0.05% for futures trading. These rates are significantly lower compared to some other platforms, such as Coinbase, which are above 2%.

Withdrawal fees vary based on the specific cryptocurrency you're transferring, so it’s advisable to review the associated costs for each coin beforehand to avoid unexpected charges.

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Bunq Cryptocurrency Policy

Bunq's cryptocurrency policy allows business users to interact with exchanges registered as Virtual Asset Service Providers (VASPs) with the Dutch Central Bank (DNB) and comply with European frameworks, such as the Markets in Crypto-Assets Regulation (MiCA). It supports various crypto-related activities, such as converting fiat to digital currencies and custodial wallet services. 

Companies must be registered with authorities like the Authority for the Financial Markets (AFM) and adhere to strict compliance, including limits on daily payments and reporting requirements. 

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About Bunq

Bunq is a digital bank based in the Netherlands that offers a mobile experience tailored to modern consumers and businesses. It provides a wide range of financial services, including multi-currency accounts, live payment notifications, and an emphasis on sustainability with options to plant trees with every transaction. 

The bank allows users to customize their banking experience, whether it's splitting payments or managing finances in different currencies. Bunq is fully licensed, adhering to strict European banking regulations.

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Bottom Line

Bunq customers can buy cryptocurrency through exchanges like Kraken, which provides access to over 290 digital assets for spot and futures trading with leverage options up to 5x.

Before purchasing, it’s essential to understand the fee structure of the exchange you choose. Reviewing the associated costs in advance will help you align your financial strategy and avoid unnecessary expenses.