How to Buy Crypto with Rabobank
Summary: While Rabobank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party crypto trading platform.
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, Rabobank 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 trading platforms to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.
Once signed up to an exchange (we’ll be using eToro for our example as it’s a widely trusted and global exchange), you can simply transfer funds from your bank account to the exchange, and trade it for crypto.
Table of Contents
How to buy crypto or bitcoin with Rabobank
There are only 4 steps involved, let’s get started!
1. Choose a cryptocurrency 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 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 Rabobank.
Rabobank full title: Cooperatieve Rabobank U.A. The Dutch multinational bank and financial services company Rabobank is based in Utrecht, Netherlands. The group includes 89 Dutch Rabobanks (2019), one central organisation (Rabobank Nederland) and many international offices and subsidiaries. Rabobank Group's international primary focus is on food and agribusiness. Rabobank is the 2nd-largest bank of the Netherlands by total assets.
Unscrupulous trading practices that included manipulation of LIBOR currency rates around the world resulted in a $1Billion fine. As a result, Piet Moerland, the Chief Executive Officer, resigned immediately
The organisation ranks among the top 30 financial institutions worldwide in terms of Tier 1 capital. Total assets are EUR681 billion, with a net profit EUR1.8 billion as of December 2014. Global Finance ranks Rabobank 25th among the "safest banks in the world" according to its survey.
Rabobank was founded in agriculture and is a federation local credit unions that offer services to local markets.
Friedrich Wilhelm Raiffeisen was the founder of cooperative credit unions and the first farmer's bank in Germany in 1864. He was a rural mayor and faced the poverty of farmers and their families. Although he tried to help these people through charity, he realized that self-reliance was more effective and he converted his charitable foundation into an agricultural bank in 1864. In doing so he created the Darlehnskassen-Verein, which collected the savings of countryside dwellers and provided enterprising farmers with loans.
The Netherlands was very interested in this model at the end 19th century. Father Gerlacus van der Elsen was one of Raiffeisen’s first followers. He served as the foundation of several local farmer's banks in the South of the Netherlands. The clergy and rural elites continued to champion the model. Although the mission of the farmers' loan banks was idealistic, they still followed strict business principles. Contrary to popular belief, Rabobank's cooperative model was founded on the principle of cooperation in the "warning against the Shylock". A cooperative bank model ensured a close bond between community and invested capital.
Utrecht and Eindhoven are the traditional headquarters of the bank. In 1898, two cooperative bank conglomerates were formed: Cooperatieve Centrale Raiffeisen-Bank in Utrecht and Cooperatieve Centrale Boerenleenbank in Eindhoven.
Raiffeisen-Bank was established as a cooperative by six local banks. Boerenleenbank, on the other hand, was a cooperative made up of 22 banks. They were able to co-exist for over three quarters of a century, despite obvious similarities. Legal disagreements are partly responsible for the similarities. Cultural differences were however the most significant. The Boerenleenbank, which is based in Eindhoven, had a distinct Catholic identity while the Raiffeisen-Bank was rooted in Protestantism. The Netherlands went through pillarisation, or verzuiling in the past. This meant that people from different religious and political backgrounds lived together, with no contact between them. This pillarisation resulted in many villages having two local banks: one for Catholics and one for Protestants. These banks were able to manage their risks better because of the close-knit banking community that resulted. These banks were able to survive the financial crisis that decimated the Dutch banking industry in the 1920s. Religious backgrounds also found their way into their organisational structures. The Eindhoven organisation emphasized a centralised structure while the Utrecht organisation encouraged local autonomy.
Rabobank began expanding its international activities in 1980 as part of its mission for global agriculture financing. It established a joint venture bank in Indonesia with Bank Duta to create RabobankDuta. In 1998, Bank Duta collapsed and Rabobank purchased Duta's shares to make PT Bank Rabobank International Indonesia. It purchased Primary Industry Bank of Australia in 1994. The bank had operations in Australia, New Zealand and New Zealand. In 2003, it renamed Rabobank Australia Limited. It also purchased Wrightson Farmers Finance Limited, a New Zealand-based bank. In 1999, it renamed Rabobank New Zealand. With this purchase, Rabobank became an important lender to New Zealand's rural sector and used it as a base for expanding its lending business.
In 2003, Rabobank bought Lend Lease Agro Business from Australia. It purchased two Indonesian retail banks, Bank Hagakita and Bank Hagakita, in 2008 to expand its operations. It has 38 offices around the world. Utrecht-America Holdings, Inc., and Rabobank N.A. The United States has two Rabobank Group subsidiaries. It was announced in 2019 that Rabobank had sold its retail business to Mechanics Bank, which will continue to provide services to customers under the Mechanics brand. Rabo AgriFinance, a subsidiary of Rabobank, will continue to conduct business in North America for Food and Agriculture-based lending.
It launched Rabobank.be, an internet-only savings bank in 2002. In 2005, a second online savings bank was opened in Ireland. It was called RaboDirect. Then it became RaboPlus in New Zealand. Two years later, it was opened in Australia. After a brief hiatus, new online banks were established in Poland (2011) as well as Germany (2012). Advertising campaigns that promoted the savings business in Ireland, New Zealand and Australia raised Rabobank's profile in those countries. This resulted in an increase not only in its savings business but also its lending business. Rabobank replaced RaboPlus in Australia and New Zealand with RaboDirect in 2010. Rabobank teamed up with Vasco (now OneSpan) to create an online authentication system that uses QR codes.