Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a crypto trading platform. However, that doesn’t mean you can’t use your DZ Bank account to buy crypto.
All you need is a reliable and trusted crypto exchange. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.
How to buy crypto or bitcoin with DZ Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with DZ Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a crypto exchange.
However, luckily for us, there are plenty of cryptocurrency trading platforms to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
1. Choose a cryptocurrency exchange
While there are a lot of crypto exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.
The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).
Let’s get into it!
2. Create an account on the exchange
The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.
3. Transfer funds into the account
Transferring funds from your DZ Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy cryptocurrency
Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.
And that’s it, you now have some crypto, congratulations!
About DZ Bank
DZ Bank AG is Germany's second largest bank, according to assets. It also serves as the central institution of around 800 cooperative banks with their 8,500 branches. DZ Bank operates as both a central institution as well as an investment and corporate bank within the Volksbanken Raiffeisenbanken Cooperative financial system, one of Germany's largest financial service providers.
DZ Bank is an acronym for Deutsche Zentral-Genossenschaftsbank (literally "German Central Cooperative Bank").
DZ Bank Group, as a holding, is primarily a service provider to local cooperative banks with their 30 million clients. DVB Bank, a transportation financing bank; Bausparkasse Schwabisch Hall a building society; DZ HYP a provider commercial real estate finance; DZ Privatbank Gruppe. R+V Versicherung is an insurance company. Union Investment Group a company that manages assets. VR Leasing and other specialized institutions are also part of the DZ Bank Group.