PSD Bank is a German cooperative banking group committed to providing personalized services and support to their customers, with a focus on building long-term relationships. The banks offer a wide range of products and services like checking and savings accounts, loans and mortgages, investment products, insurance, online banking and mobile banking services, and cryptocurrency trading.
Can You Buy Cryptos with PSD Bank?
Although you cannot buy cryptocurrencies directly with PSD Bank, as it is a traditional bank, crypto exchanges like Bitget and Bitvavo support fiat deposits through the SEPA payment system. Follow our step by step guide to securely buy cryptocurrencies with your PSD Bank account.
How to Purchase Cryptos with PSD Bank on Bitget
Step 1: Create a Bitget account
Click the “Sign Up” on the top-right corner of Bitget’s homepage. Fill in your details, agree to the terms and conditions, and click the “Sign Up” button. You’ll receive a confirmation email from BitGet with a link for verifying your email. Follow the link to complete the sign-up process.
Step 2: Complete KYC Verification
You must complete one more step before you can start buying crypto on Bitget: Identity Verification. Go to the “Identity Verification” on the sidebar to begin the process. Submit a government-issued ID and send a picture of your face.
Step 3: Buy Crypto with PSD Bank
Put your mouse on “Buy Crypto” and select “Bank Deposit” in the drop-down menu. Change the fiat currency to EUR, enter the amount you wish to deposit, and specify the crypto you want to receive. Select SEPA as your payment method, agree to terms, and click “Next.”
Step 4: Purchase Crypto
Open your PSD bank app and send the required funds to the exact payee information printed on the screen. After making the transfer, confirm the payment. You have successfully loaded your BitGet account with crypto!
2. How to Purchase Cryptos with Deutsche Bank on Bitvavo.
You can use your PSD Bank account to buy cryptocurrencies on Bitvavo with a wide selection of payment methods like GiroPay, Credit/Debit card, and Paypal. However, this guide will cover the purchase of crypto via the SEPA bank transfer method.
Step 1: Create a Bitvavo Account
Follow this link to create an account with Bitvavo. Crunch in your personal information, tick the “agree to terms and conditions box, and click the “Create Account” button. Verify your email with the link sent by Bitvavo to your registered email address.
Step 2: Complete KYC Verification
Go back to Bitvavo and verify your identity by providing the required documents.
Step 3: Deposit EUR into Your Bitvavo Account
After verifying your identity, return to the dashboard and click the “Deposit” button. Choose SEPA as your payment option.
Step 4: Buy Crypto
Go to your PSD bank app and use the barcode to automatically the payee’s details. Alternatively, you can manually enter the payee’s information into the app. Send the money and confirm the payment.
You’ll see your updated EUR balance on the dashboard. Now, you can buy any digital asset available on Bitvavo. Just select your preferred crypto and click the “Buy Button.” That’s it!
About PSD Bank
Founded in 1999, PSD is a German Cooperative Bank Group known for servicing only retail clients (they don’t deal with business and self-employed customers). The bank manages the assets of over 10 million customers. PSD offers mobile banking, online banking, cryptocurrency trading, and many other financial services. PSD Bank is regulated by the German Federal Financial Supervisory Authority (BaFin).
Summary
PSD Bank is a convenient and safe way to buy crypto with a SEPA bank transfer. Both Bitget and Bitvavo are reputable exchanges that support PSD Bank payments. Depending on your preferences, if you are looking for a secure, regulated, and user-friendly cryptocurrency exchange with a wide selection of coins to trade, these exchanges will serve you effortlessly.
