KFW Bank is one of the largest development banks in Deutschland. The financial institution has partnered with some exchanges to allow its clients to purchase crypto as freely and securely as possible.
In this guide, we will be looking at how to buy cryptos with your KFW bank app using SEPA transfer. The crypto exchange we will focus on is one of the world’s most highly-rated crypto platforms – Bitvavo.
Yes, you can buy cryptos with KFW bank – albeit not directly. Some platforms have allowed traders to buy cryptos by simply transferring money from their bank accounts onto the platform. There are several ways to deposit money on such exchanges. Some are SEPA bank transfer, Giropay, iDeal, debit/credit cards, etc. Today, you will learn how to buy cryptos with KFW Bank on Bitvavo using SEPA transfers.
Bitvavo is one of the top-rated European crypto exchanges in 2024. The platform is ideal for beginner traders, veterans, and institutions. Since its launch in 2018, Bitvavo has garnered over a million users, with over 200 digital assets such as BTC and ETH available on the platform. The crypto exchange collects transaction fees between 0.03% to 0.25%. Additionally, Bitvavo guarantees compensation if your account is accessed without your permission.
These are the steps to buy cryptos with KFW Bank on Bitvavo using the SEPA portal:
To buy cryptos on Bitvavo, you must find its website and open an account. On the Sign-up page, you must input your details and customize your profile afterward.
Once you verify your account, you must provide a government-issued ID and a live video of yourself for identity verification.
Like most crypto exchanges, you must have some funds in your account before buying cryptos on Bitvavo. You can do so via SEPA, Giropay, Sofort, or Debit/Credit cards. We’ll be looking at SEPA as it comes with zero transfer charges. Select “Deposit €”.
You’ll be asked to verify your bank account on the next page. You should note that your Bitvavo and bank account details must match. Next, choose SEPA as your preferred mode of payment and provide the amount you wish to deposit. Bitvavo has a minimum deposit limit of €1. Then, Bitvavo will provide a barcode and payee information.
You can either scan the barcode using your KFW Bank App or make the transfer to the provided account details manually. The deposit will reflect on your dashboard almost immediately.
Now that you have money in your Bitvavo account, it’s time to buy some cryptos. Find “Assets” and click on it. You’ll be directed to the various digital assets available on Bitvavo. Use the search bar to find your desired cryptocurrency. Click “Buy” and proceed with the transaction.
Headquartered in Frankfurt, KFW is a German investment and development institution. It is one of the biggest national development banks on the planet and one of the largest banks in Germany. Established in 1948, the bank is 80% owned by the Federal Republic of Germany and 20% owned by the States of Germany.
Bitvavo is an excellent choice for traders seeking safe and affordable exchanges to purchase cryptos. What’s more interesting is that the platform charges zero transaction fees on all EUR deposits made via SEPA. All you have to do is sign up to the Bitvavo platform and get started right away!