Banks not allowing Bitcoin?

R-ME

Jedi
Yesterday I thought about investing in Bitcoin.

So, today I created an account on kraken.com which I decided to use among the various platforms. Everything went fine until depositing money failed through my MasterCard. And for the last hours I've been google searching and come to learn that probably all banks in Sweden doesn't allow Bitcoin and may have blocked any transfer ability to and from such platforms dealing with Bitcoin (and cryptocurrencies in general I assume). It seems the banks has allowed transfers earlier, but not anymore. So I been searching for banks and solutions, but have come up empty handed.

My reasoning for investing is having a small amount, maybe 1000 euros, invested for the future or forever should Bitcoin raise in value.

Does anyone have any good solution to this?
 

BHelmet

Dagobah Resident
it could just be kracken - did you try binance? Supposedly Binance works in sweden that seems to be the big boy on the block internationally
 

BHelmet

Dagobah Resident
actually it looks like you have to link your bank account to use kraken - it should work just not mastercard
 

R-ME

Jedi
it could just be kracken - did you try binance? Supposedly Binance works in sweden that seems to be the big boy on the block internationally

I tried with binance and it failed.

actually it looks like you have to link your bank account to use kraken - it should work just not mastercard

I read that Kraken has different accounts with different banks and all you do is transfer from your bank through those. You do it online in your bank similar of how you pay an bill normally otherwise, but it would be a foreign payment, called a SEPA when you deal with Euro. I don't know much about it. But from what I understand you don't actually link your bank account with Kraken. But I have never done it, I think, so I am unsure. The details you get from kraken when choosing to do this is what you use in your bank.

I can try, though, from what I have read on various sites and forums it won't work.
 

R-ME

Jedi
Were in contact with my bank and they responded on Monday:

With regard to purchases and transactions with cryptocurrency, this is something we at ICA Banken do not allow according to our general terms and conditions and may therefore refer to another bank regarding this.
 

Charlie

Padawan Learner
You saved yourself some money not being able to buy in yesterday.

On the other hand, you lost out on the opportunity to buy in during the dip today.

ETORO has been down all day today angering all of it’s users.
 

axj

Dagobah Resident
Even Tradingview went down during the one hour crypto flash crash yesterday.

Never had problems with my bank in Germany to buy on Bitpanda (Austria).
 

Rich

The Living Force
In the UK I have found only One bank I use will allow transactions to deposit money in the Crypto site I use: CoinCorner
I have found CC to be very good and reply helpfully to messages I ask them.
I know there are many UK banks that do not allow funding Crypto traders, So for me it was just a case of finding the right one and the bank I use The COOP have been very cooperative :)
 
Top Bottom