I can’t currently find the article online but there was a little piece today in NZZ where they where writing about SEBA onboarding customers with crypto currencies. For me this is not the idea of these kind of currencies but still interessting never the less.
According to the article you are abel to exchange cryptocurrencies using their eBanking plattform. I guess big fees are comming with that.
Yes you can… but the fees are pretty high as far as I can remember. Tried it twice. First time it did not work as in I got a error code about my transaction. The Money was reimbursed. A few days later on a different machine it worked like a charm.
Otherwise keep it simple and just get an Coinbase Pro account. It is free and you pay only by trade. It allows also staking some coins and has a nice handy app.
Fun fact: Coinbase is launching an IRA (only US). Where you can directly invest in Bitcoin and other Cryptos. It is like a pension fund where you actively can choose in what you want to invest.
Has anyone here used Bitcoin Suisse (1.25% brokerage fee) or Bity (not sure about brokerage fees but spreads are shown here: https://bity.com/api/v1/rate2/)?
Both are Swiss platforms where you can buy directly in CHF. These are also the 2 that run the bitcoin ATMs here (aside from the SBB vending machines) which have lower fees than SBB, but still pretty nasty.
Just be cautious with any crypto exchange, which are located in the US. With the current situation, where cryptocurrencies within the US are not embraced with love (maybe this will be more accepted in the future). Once you try to cash out that money from the exchange into FIAT, there is a certain risk, that your home bank here will be black flagged by the US bank the money came from via SWIFT. What ever the outcome of the discussion is, it will be not to your advantage. And this has nothing to do with the US IRS or taxation here.
P.S. Pls don’t misunderstand this comment as a smart-aleck comment, I saw that happening.
You already mentioned Seba and Sygum, they are currently the only two “crypto banks” in CH (self-appointed designation). Swissquote as a broker has been ahead of others, Maerki Baumann was the first private bank to offer crypto specific products and Vontobel is probably the main contact for a traditional bank dabbling in crypto currencies.
To my understanding Swissquote stores your currency with a third-party custodian. Do they vouch for it if said custodian loses your currency, e.g. gets hacked?
To add to my earlier post: Be vary of Seba and Sygnum, they are both start-ups and at least the former seems to have some issues.
Also to bump @Neville’s question: Would Swissquote cover losses of their custodians (Bitstamp Europe SA/Bitstamp Ltd)? I’d say yes, given their marketing (security of a CH bank, which Bitstamp is not) and as far as I understand the legal set-up.
Would anyone be able and so kind to write up a summary of the best options for someone based in CH to buy bitcoin and other cryptocurrencies in safety?
In my previous experience buying (and selling) with Bitstamp has been awesome. Verification is done quite fast. Money arrives quickly. IIRC they only have a EUR account so you’d probably be better off using Revolut to transfer money into your account.
After buying I’d recommend you to move funds to your own wallet where you actually own the private key. Depending on the sum it’d be worth it to get a https://www.ledger.com/
Still if you want to buy Bitcoin only, I would go with Swissquote as a bank. It is transparent, booked and you will have potentially no issues with the tax departements years later. The Bitcoin will be booked as an other currency in your books.
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