Navigating the world of cryptocurrency can be complex, but the integration of traditional banking services with digital asset management is simplifying the process for many. A Swiss-based institution offers a suite of services that allows clients to seamlessly interact with the crypto economy through a regulated environment. This guide provides a comprehensive overview of how you can buy, sell, and store digital currencies using a multi-currency bank account.
Core Cryptocurrency Services Offered
The bank provides a robust framework for interacting with digital assets, combining the security of a regulated financial institution with the flexibility of cryptocurrency operations.
Buying and Selling Digital Assets
Clients can purchase and sell a variety of popular cryptocurrencies 24 hours a day, 365 days a year, directly through the bank's mobile application and trading platforms. The process is designed for simplicity, often involving just a single click to execute a trade.
The mobile app provides a straightforward gateway for trading, storing, and transferring cryptocurrencies linked to your multi-currency account. For more advanced traders, the professional trading platform enables the trading of crypto pairs with leverage of up to 1:5 via a dedicated trading account.
A unique offering is the ability to trade Dukascoin (DUK+), a cryptocurrency issued by the bank itself. These tokens can be traded on the bank's own internal marketplace as well as on partnered external cryptocurrency exchanges.
All transactions are subject to a transparent and competitive fee structure. It is important to note that both multi-currency and trading accounts have defined transaction limits.
Transferring Crypto To and From Blockchain
A key feature is the ability to move assets between the traditional banking system and the decentralized blockchain. Clients can transfer supported cryptocurrencies into their multi-currency account from their personal external blockchain wallets.
Conversely, clients can withdraw cryptocurrencies from their bank account back out to a wallet on the blockchain or to an account at another cryptocurrency exchange or financial institution. It is also possible to fund a trading account by transferring in crypto from an external wallet.
Internal transfers of supported cryptocurrencies between the multi-currency accounts of different bank clients are free of charge. Transfers to and from the blockchain, however, incur a network fee.
- The list of cryptocurrencies available for blockchain transfers includes Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Leveraged Cryptocurrency Trading
For those seeking to amplify their trading strategies, the bank's professional platform offers the ability to trade cryptocurrency pairs with leverage of up to 1:5. This allows traders to gain greater exposure to the market with a smaller initial capital outlay.
Secure Cryptocurrency Storage
Client assets purchased or transferred into a multi-currency account are held securely by the bank. The institution currently supports custody for several major cryptocurrencies, including BTC, ETH, Litecoin (LTC), Stellar (XLM), Bitcoin Cash (BCH), USDT, and its own Dukascoin (DUK+).
Most client assets (excluding Dukascoin) are held as specific types of contracts for difference (CFDs). From a risk and financial perspective, this is similar to holding the underlying cryptocurrency but comes with the significant benefit of being covered by the national deposit protection scheme, safeguarding investments up to 100,000 CHF.
Dukascoin (DUK+) held in custody is treated as a cryptocurrency deposit and is not covered by this protection scheme.
For high-net-worth private clients, the bank also offers fiduciary custody services for a wider range of digital assets, providing an additional layer of segregation and security for larger holdings.
The bank employs a combination of cold (offline) and hot (online) wallets with multi-signature access, often in partnership with regulated exchanges and other banks, to secure both its own and clients' assets.
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Understanding Fees and Account Requirements
Engaging with these services requires an understanding of the associated costs and the necessary accounts to get started.
Fee Structure for Crypto Services
The bank maintains a competitive and transparent fee schedule for its cryptocurrency operations. Below is an example of the fee structure for a standard multi-currency account:
| Service | Fee |
|---|---|
| Buy/Sell Fee | 1% |
| Annual Custody Fee | 1.5% |
| Withdrawal to Blockchain | 30 CHF |
| Deposit from Blockchain | Free |
Fees for Dukascoin (DUK+) operations are detailed on its dedicated website. All clients are encouraged to review the full fee schedule on the bank's website before commencing trading.
Getting Started: Account Requirements
To access the bank's cryptocurrency services, you must first open a multi-currency account (MCA) or a trading account. The good news is that this process can be completed online, 24/7, and is free of charge.
Peer-to-Peer (P2P) Exchange and Ecosystem News
The bank has developed innovative solutions for clients to interact directly with each other.
Secure P2P Cryptocurrency Exchange
The bank operates its own marketplace for the peer-to-peer (P2P) exchange of cryptocurrencies. This service functions as a bulletin board where clients can post offers to buy or sell tokens directly with other clients.
The bank's primary role in these P2P transactions is to ensure the security of the fiat currency settlement. It acts as a trusted escrow agent, blocking the buyer's fiat funds until the seller confirms the delivery of the cryptocurrency to the buyer's wallet. This significantly reduces the settlement risk inherent in most P2P exchanges.
The process is simple:
- Install the bank's communication app.
- Open a multi-currency account.
- Find a counterparty on the P2P channel.
- Conclude the P2P deal.
- The bank safely settles the transfer of funds for both participants.
Recent Developments and Partnerships
The bank's crypto ecosystem is continuously evolving through new partnerships and service expansions. A significant recent development was the live API integration with a regulated Swiss/Liechtenstein digital assets exchange. This collaboration allows shared clients to instantly trade a wide array of digital asset pairs using the security of their Swiss bank account, which supports multiple global currencies.
This model is part of the bank's broader strategy to offer multiple secure pathways into the crypto market, including direct purchase, partnered exchange trading, P2P services, and leveraged trading on its own platform.
Frequently Asked Questions
What are the main ways to buy crypto through this bank?
You can primarily buy cryptocurrency in four ways: directly from the bank into your multi-currency account, through one of the bank's partnered crypto exchanges, via the P2P marketplace from another client, or through leveraged trading on the bank's own professional platform.
Is my cryptocurrency stored at the bank safe?
Most cryptocurrencies held in your multi-currency account (excluding Dukascoin) are protected up to 100,000 CHF under the Swiss deposit protection scheme. The bank also uses a combination of cold and hot wallets with robust security measures and partners with regulated institutions for custody.
What cryptocurrencies are supported for blockchain transfers?
Currently, you can deposit and withdraw Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) directly between your bank account and your personal blockchain wallets.
How does the P2P exchange work?
The P2P marketplace allows you to trade directly with other bank clients. You post an offer to buy or sell, and once a deal is agreed upon, the bank secures the fiat currency transfer, significantly reducing the risk of fraud for both parties involved in the transaction.
What is Dukascoin (DUK+)?
Dukascoin is a cryptocurrency token issued by the bank itself. It can be staked to earn rewards, used within the bank's ecosystem, and traded on both the bank's internal marketplace and on external partnered exchanges.
Are there any fees for holding crypto?
Yes, the bank charges an annual custody fee for storing cryptocurrencies in your multi-currency account. It is important to review the latest fee schedule on the bank's website for exact rates.