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]

7889 said:
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?
Click to expand...

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]

uranium said:
You should know that they don't allow third party deposits
Deposit from a personal account in your name
Click to expand...

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]

7889 said:
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.
Click to expand...

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]

AtMo said:
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.
Click to expand...

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]

Dreamy said:
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.
Click to expand...

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]

Dreamy said:
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.
Click to expand...

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]

uranium said:
Oh my bad
They have good relationship with (Coinbase/Kraken/Gemini/Bitstamp). So you can send them fiat from swissquote easily
Click to expand...

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?

AtMo said:
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.
Click to expand...

What means Regular? Every day, week, month? Do u 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

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