Is Swissquote OK with fiat to crypto exchange?

[7889]

I would happily use their own exchange but liquidity is very low atm. I know that they mention in their faq that crypto deposits from whitelisted exhcanges is ok (Coinbase/Kraken/Gemini/Bitstamp). They don't explicitly say about fiat deposits/withdrawals though. I presume it should be fine?

 

[uranium]

Of course you can deposit fiat. They are both a bank⁤ and broker.
You should know that they don't allow third party deposits
Deposit from a⁣ personal account in your name

 

[369]

have a look at their fee's

 

[7889]

i was asking about sending fiat from‍ Swissquote to crypto exchange. It’s literally in the thread name.
By the way, there is⁠ a “grey area” with third party deposits because they allow deposit with a debit/credit card.⁤

 

[uranium]

Oh my bad⁠
They have good relationship with (Coinbase/Kraken/Gemini/Bitstamp). So you can send them fiat from swissquote easily⁤

 

[AtMo]

They charge a high fee, and if you do this regularly, they will ask a‌ lot of questions before you can withdraw crypto.

I would not recommend it for daily‍ use.

 

[Dreamy]

What about to send them crypto -> after convert⁠ it to EUR -> after buy and hold with them US and EU stocks ->⁤ withdrawal every month dividends to other bank account. Could this work? For non EU passport⁣ holder.

 

[AtMo]

Never tried crypto to FIAT, but I think it's the same.

If you only do⁤ it once a month, I think it could be fine.

 

[7889]

You won't be able to convert crypto to fiat easily. Their exchange liquidity is low,⁤ as i already mentioned. It's much better to use them as fiat gateway to/from regulated⁣ exchanges. Keep some stocks portfolio with them too to make them happy.

 

[reini1860]

I thought SQ only allows transfer to‍ an account in the own name. Transfers to Kraken, for example, will be transferred first⁠ to Payward, and with your Kranken account number Payward transfer it to Kraken. So u⁤ need to transfer it first to transfer it to an account NOT in your name,⁣ which SQ won’t allow.
Or do they make an exemption with the whitelisted crypto exchanges?⁢

What means Regular? Every day, week, month? Do u︂ have personal experiences with SQ with buying crypto, sending it to your whitelisted crypto wallet?︃

 

[myhand]

Regular in this case means you should only use them rare i.e. once a month‌ or even less