How to Buy Crypto with BNP Paribas
Summary: While BNP Paribas doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party crypto exchange.
There are plenty of crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
[Rated 4.2/5 based on 15710 reviews on Trustpilot]
As mentioned above, just like most banks, BNP Paribas doesn’t offer cryptocurrency trading directly, as setting up a crypto exchange is quite complex and comes with regulations and extra requirements for the banks.
There are many crypto exchanges that you can use for buying bitcoin and other cryptocurrencies.
You can sign up for an exchange (we will use eToro as our example because it is a trusted and worldwide exchange) and transfer funds to the exchange to trade crypto.
Table of Contents
How to buy crypto or bitcoin with BNP Paribas
There are only 4 steps involved, let’s get started!
1. Choose a crypto exchange
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
You can, of course, use any trusted crypto exchange for this, the steps will be very similar for most exchanges.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy crypto
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with BNP Paribas.
About BNP Paribas
BNP Paribas S.A., a French international bank group, was created in 2000 by the merger of Paribas and Banque Nationale de Paris.
The bank has 190,000 employees, as of February 20, 2021. It is divided into three major business areas: Commercial and Personal Banking & Services, Investment & Protection Services, Corporate & Institutional Banking (CIB), and Commercial, Personal Banking & Services.
The group is listed on Euronext Paris' first market and is a component in the Euro Stoxx 50 stock index. It also includes in the French CAC 40 index.
BNP Paribas is Europe's largest banking group and the 7th largest in the world. After the 2008 financial crisis, it became one of five largest banks worldwide. It is still one of the top ten most important banks in the world, despite some legal problems, such as being penalized the highest amount for violating U.S. Sanctions. The Financial Stability Board considers it a bank of systemic importance.
The Banque Nationale de Paris S.A. (BNP) resulted from a merger of two French banks in 1966: Banque nationale pour le commerce et l'industrie (BNCI) and Comptoir national d'escompte de Paris (CNEP).
Paribas (the Banque de Paris et des Pays-Bas S.A.) was created in 1872 from two investment banks based in Paris and Amsterdam. Les Pays-Bas (French for the Netherlands) is French.
BNP Paribas and Paribas merged in May 2000 to create BNP Paribas. This bank is a descendant of four founding banks institutions.
BNP Paribas is the owner of BancWest in the United States. This bank operates retail banking subsidiaries Bank of the West, and the former First Hawaiian Bank. Bank of the West is present in 19 Western US states, where it is the 7th largest foreign bank in assets. First Hawaiian Bank has a 40% market share of deposits. The two banks together have 710 branches and serve 5 million clients.
In 1998, the two banks were merged to form BancWest. BNP Paribas assumed full control in 2001.
The group is a strong player in niche markets like lending for recreational and marine vehicles, lending to churches, and agribusiness. BancWest's 2009 revenues were EUR2.1 billion (5.2% of total group's), with 11,200 employees (5.5% total group headcount). BancWest's exposure to the subprime mortgage crisis in California and Nevada in 2009 resulted in a loss of EUR223 millions.
BNP Paribas, however, has decided to sell its Bank of the West, the US retail banking company, to the Bank of Montreal in December 2021 for $16.3 billion.
BNP and Societe Generale engaged in a complicated battle on the stock exchange in 1999. Societe Generale bid for Paribas, while BNP bid for Societe Generale. BNP counter-bidding for Paribas. BNP's bid to Societe Generale was rejected, but its bid for Paribas won. This resulted in a merger between Paribas and BNP on 23 May 2000.
In 2006, BNP Paribas purchased Banca Nazionale del Lavoro (BNL), Italy's sixth largest bank.
BNP Paribas, the largest financial group in the world, became the first to recognize the effects of the subprime crisis on 9 August 2007 by closing two funds that were exposed to it. The credit crisis began on this day, and BNP Paribas' quick response saved it from the fate that befell other large European banks like UBS.
BNP acquired 75% of the Belgian bank Fortis' activities and 66% in Luxembourg on 6 October 2008. In exchange, the Belgian government became the major shareholder in the new group. A court order issued by the Court of Appeal Friday 12/12/12 suspended the Fortis share sales.
The BNP and the Belgian government negotiated a 75% partnership for Fortis Bank Belgium at the end of January. Fortis Holding would reintegrate Fortis Insurance Belgium.
Fortis' shareholders voted that Fortis Bank Belgium, Fortis Insurance Belgium, and Fortis Bank Belgium should remain the property of BNP Paribas on 11 February. The acquisition was completed, and BNP paribas acquired 75% of the shares and renamed Fortis as BNP Paribas Fortis. Fortis Insurance International was the only remaining company in Fortis Holding. Ageas was created to replace it. Ageas was an international business with Insurance across Europe and Asia. Fortis Bank Netherlands, which was still available, was transferred to the Dutch Government. It merged with other ABN AMRO holdings that it had previously owned under the ABN AMRO name.
BNP Paribas, 65.96% of BGL (previously Fortis Bank Luxembourg) became the majority shareholder in May 2009. The State of Luxembourg retained 34% of BNP making it the largest eurozone bank by deposits.
The bank's registered name was changed from BGL BNP Paribas to BGL BNP Paribas on 21 September. In February 2010, BGL BNP Paribas became 100% owner of BNP Paribas Luxemburg. The transfer was completed on October 1, 2010 with incorporation of BNP Paribas Luxembourg in the operational platforms at BGL BNP Paribas. The International Financing Review ("IFR") was Thomson Reuters' top financial industry publication. In 2013, BNP Paribas won the Bank of the Year Award. The IFR Awards are a benchmark in the industry and Bank of the Year, the highest honour, is awarded.
BNP Paribas and Rabobank reached an agreement to purchase Rabobank's Polish division BGZ Bank in December 2013. The deal was worth approximately $1.4 billion. BNP paid $1.3 billion for the final purchase of BGZ bank.
BNP Paribas pleaded guilty in June 2014 to conspiring and falsifying business records. It had also violated U.S. sanctions on Iran, Cuba, and Sudan. It was fined $8.9 billion, the largest penalty ever for violating U.S. sanction at that time.
BNP Paribas, the French bank, announced in December 2021 that it would be exiting the US retail banking industry by selling its Bank of the West business to the Bank of Montreal. The transaction was valued at $16.3bn.