Swissquote is expanding its product portfolio and offers its clients the opportunity to invest in bitcoin, the second Swiss banking institute to make such trading possible within a week. For this purpose, the company has reached an agreement with a European fintech leader.
Bitcoin is making inroads in Swiss banking. Shortly after Falcon Private Bank paved the way for bitcoin trading, another established institute is following suite: Online bank Swissquote now also offers its customers the chance to invest in the crypto currency. Swissquote has agreed to a cooperation with Luxembourg-based Bitstamp, the company said in a statement today.
Bitstamp is the first exchange platform to have received a license for bitcoin trading from the European Union.
Fees to Depend on Investment Volume
Investors will be able to exchange euros or dollars into bitcoins via their trading account on Swissquote’s platform. The minimum amount for exchange is $5 or 5 euros, the maximum $100,000 or 100,000 euros.
Swissquote charges a fee that is dependent on the size of transaction and will range from 0.5 to 1 percent of the invested sum.
