How to Buy Crypto with Credit Suisse
Author: Marco Vela - Fact-checked ✓
Summary: While Credit Suisse doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party cryptocurrency 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
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As mentioned above, just like most banks, Credit Suisse doesn’t offer cryptocurrency trading directly, as setting up a cryptocurrency trading platform is quite complex and comes with regulations and extra requirements for the banks.
Luckily for us, there are plenty of cryptocurrency exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
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 Credit Suisse
There are only 4 steps involved, let’s get started!
1. Choose a cryptocurrency trading platform
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 cryptocurrency
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 Credit Suisse.
About Credit Suisse
Credit Suisse Group AG, a global financial services and investment bank, was founded in Switzerland. It is headquartered in Zurich and has offices in all major financial centres around the globe. It is one of nine global Bulge Bracket banks that provides services in private banking, investment banking, asset management and shared services. It is well-known for its strict confidentiality and banking secrecy. It is considered a bank of systemic importance by the Financial Stability Board. Credit Suisse is also a primary dealer and Forex counterparty for the FED.
Credit Suisse was established in 1856 to finance the construction of Switzerland's railway system. It provided loans that were instrumental in the creation of the European rail network and the electrical grid in Switzerland. It began to shift to retail banking during the 1900s to meet the needs of the rising middle class and the competition from UBS and Julius Bar, fellow Swiss banks. Credit Suisse began its partnership with First Boston in 1978, before purchasing a controlling stake in the bank in 1988. The company purchased institutions like Bank Leu, Swiss Volksbank and Swiss American Securities Inc. (SASI) from 1990 to 2000. Credit Suisse's largest institutional shareholders include the Qatar Investment Authority and US mutual fund providers Harris Associates, Dodge & Cox and the Saudi Arabian Olayan Group.
The bank was not the most affected by the global financial crisis. However, it began to shrink its investment business and execute layoffs. Multiple international investigations into tax avoidance led to the bank being charged with a guilty plea. The bank also received US$2.6 billion in penalties between 2008 and 2012. Credit Suisse's assets were worth CHF 1.6 trillion in 2021.
Credit Suisse has been the center of numerous controversies regarding its selection of clients and climate change. This includes support for Russian oligarchs in the 2022 Russian invasion Ukraine.
Credit Suisse Group AG is a joint stock company that is registered in Zurich and operates as a holding firm. It is the owner of the Credit Suisse bank as well as other financial services interests. Credit Suisse is managed by its shareholders and a board of directors. The Board of Directors organizes the Annual General Meeting of Shareholders, while large investors in the company set the agenda. Shareholders can elect auditors for one year terms, approve financial statements and the annual report, and exercise other rights granted by law. The Chairman's and Governance Committee nominates candidates for the chairman's and board of directors. The Board of Directors meets six times per year to vote on company resolutions. Based on the guidance of the compensation committee, Credit Suisse's Board determines Credit Suisse's business strategy and approves its compensation guidelines. It has the power to create delegated management committees.
Credit Suisse has two divisions: Private Banking & Wealth Management, and Investment Banking. The Shared Services department offers support functions such as legal, IT, marketing, risk management, and legal. The operations are split into four regions: Europe, Asia, the Middle East, Africa, the Americas and Asia Pacific. Credit Suisse Private Banking offers wealth management, corporate and institution services. Credit Suisse Investment Banking deals with securities, capital procurement, trading, prime brokerage, trading, and investment research. Credit Suisse Asset Management offers investment classes, other investments, real estate, equities and fixed income products as well as other financial products.
Credit Suisse supports a strategy known as bancassurance, which aims to be one company that offers all financial services products. The investment bank is for wealthy individuals and companies with over 50,000 euros.
Credit Suisse created the CreditRisk+ credit risk assessment model for loans. It is based solely on the possibility of default and uses the exogenous Poisson methodology. Credit Suisse's insurance business, which it acquired in 1997 from Winterthur, accounted for 20% of its revenue as of 2002. The insurance products offered by the investment bank include auto, property, life and disability as well as retirement and pension products. Private banking services have been a major source of revenue for the bank, accounting for 20-40% of its total revenue. This is one of its highest profit margin divisions.
Credit Suisse is the producer of one of six hedge funds that follow European stock indices, which are used to assess the performance of the markets. York Capital Management, a hedge fund investment company, is also owned by the investment bank. York sells hedge funds to its clients independently, while Credit Suisse offers them to private bank clients. Credit Suisse manages the financial instrument of the Dow Jones Credit Suisse short/long equity index (originally Credit Suisse/Tremont Hedge Fund Indexes).
SeekingAlpha reported that Credit Suisse's investment management team favors stocks in the financial, technology, and energy sectors. According to the bank's European head of equity investments, "value is important with an emphasis on cashflow." She is also interested in stock prices that are affected by management changes. According to The Wall Street Journal, Credit Suisse's International Focus Fund head keeps a portfolio of 40-50 stocks instead of the industry norm of over 100.
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author Marco Vela
A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.