Company in the Netherlands FIAT -> Crypto?

[MikeP]

Hello,

I would appreciate tips on the following.

I have a company in the Netherlands (online marketing, coaching) and want to buy crypto using my company's surplus cash.
( €1-10k pm). I have a business paypal account and 2 (local Dutch) business bank accounts.

I made several company accounts at Dutch crypto exchanges and bought crypto during the past 2 years.
However I'm noticing my Dutch banks increasingly don't like transfers to crypto exchanges. In order to prevent them from shutting down my bank accounts if I buy more, I'm looking for good alternative solutions.

Some initial thoughts from my side:
- the amounts are probably too small to go for a dedicated Swiss crypto friendly bank (Bank Frick etc.)?
- I've read a lot of negative experiences about people who experienced questionable practices by different offshore banks during onboarding
(pay a lot for onboarding and get rejected) (Bankera, Kingdom Bank)?

Some ideas I had (probably not that great) to avoid banks:
- buying cryptovouchers using my company paypal. Not sure if this will raise flags at Paypal.
- using paxful: buy giftcards using my company bank/paypal, then trade for cryptovouchers, then use DEX to swap crypto.
Problem is very high transaction fees (20-30%). Also, Paypal might not like it?
- withdraw cash from ATM and buy BTC with BTC ATM. Not sure if my banks will flag this kind of behaviour because I never withdraw cash with ATM.
- any other solutions/banks you might know?

Thanks for your ideas/feedback!

 

[johndunham]

Don't have the answer for you, but interested in this topic. Do you know of any BTC ATMs without KYC near The Netherlands? Thought they all disappeared.

 

[CyprusLawyer101]

There is a bank that can do OTC transactions if it is of interest

 

[MikeP]

CyprusLawyer101 said:
There is a bank that can do OTC transactions if it is of interest
Click to expand...

Thanks. I will send you a DM.

johndunham said:
Don't have the answer for you, but interested in this topic. Do you know of any BTC ATMs without KYC near The Netherlands? Thought they all disappeared.
Click to expand...

Sorry, I don't have any knowledge about it.

 

[Martin Everson]

MikeP said:
I would appreciate tips on the following.

I have a company in the Netherlands (online marketing, coaching) and want to buy crypto using my company's surplus cash.
( €1-10k pm). I have a business paypal account and 2 (local Dutch) business bank accounts.
Click to expand...

Why not try using Bunq Banks business account in Netherlands? They provide banking for the Dutch crypto exchange Bitonic unless that has changed recently.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[MikeP]

Martin Everson said:
Why not try using Bunq Banks business account in Netherlands? They provide banking for the Dutch crypto exchange Bitonic unless that has changed recently.
Click to expand...

Thanks for your reply. Bunq bank's T&C explicitly show crypto related activities are not allowed. So perhaps Bitonic is an exception.

 

[diatessaron]

johndunham said:
Don't have the answer for you, but interested in this topic. Do you know of any BTC ATMs without KYC near The Netherlands? Thought they all disappeared.
Click to expand...

Bitcoin ATMs have some really high fees, he would probably have to pay as much as 50%.

@OP, have you tried Dukascopy? If you can convince them to increase your limits you will have a great time with them.

 

[Gediminas]

MikeP said:
Hello,

I would appreciate tips on the following.

I have a company in the Netherlands (online marketing, coaching) and want to buy crypto using my company's surplus cash.
( €1-10k pm). I have a business paypal account and 2 (local Dutch) business bank accounts.

I made several company accounts at Dutch crypto exchanges and bought crypto during the past 2 years.
However I'm noticing my Dutch banks increasingly don't like transfers to crypto exchanges. In order to prevent them from shutting down my bank accounts if I buy more, I'm looking for good alternative solutions.

Some initial thoughts from my side:
- the amounts are probably too small to go for a dedicated Swiss crypto friendly bank (Bank Frick etc.)?
- I've read a lot of negative experiences about people who experienced questionable practices by different offshore banks during onboarding
(pay a lot for onboarding and get rejected) (Bankera, Kingdom Bank)?

Some ideas I had (probably not that great) to avoid banks:
- buying cryptovouchers using my company paypal. Not sure if this will raise flags at Paypal.
- using paxful: buy giftcards using my company bank/paypal, then trade for cryptovouchers, then use DEX to swap crypto.
Problem is very high transaction fees (20-30%). Also, Paypal might not like it?
- withdraw cash from ATM and buy BTC with BTC ATM. Not sure if my banks will flag this kind of behaviour because I never withdraw cash with ATM.
- any other solutions/banks you might know?

Thanks for your ideas/feedback!
Click to expand...

Bankera + crypto exchange would do the job for you.

Toggle signature
https://locked.money - Your Crypto Management Company, Ready in Days ”“ Trade, Invoice, $1,200/Year!

 

[MikeP]

diatessaron said:
Bitcoin ATMs have some really high fees, he would probably have to pay as much as 50%.

@OP, have you tried Dukascopy? If you can convince them to increase your limits you will have a great time with them.
Click to expand...

Thanks for your suggestion. Do you have experience with them?

 

[MikeP]

Gediminas said:
Bankera + crypto exchange would do the job for you.
Click to expand...

Can I dm you about this setup? I'm reading mixed experiences about them & to my understanding you can provide support during onboarding.

 

[johndunham]

MikeP said:
Can I dm you about this setup? I'm reading mixed experiences about them & to my understanding you can provide support during onboarding.
Click to expand...

Why can't you just discuss things on the forum? You ask for help, and you respond with secretive nonsense. Weird behaviour.

 

[Martin Everson]

MikeP said:
Thanks for your reply. Bunq bank's T&C explicitly show crypto related activities are not allowed. So perhaps Bitonic is an exception.
Click to expand...

Wow...things have changed really fast over at Bunq then.

Maybe a MisterTango business account will work for you. They operate BTC Exchange after all.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[diatessaron]

MikeP said:
Thanks for your suggestion. Do you have experience with them?
Click to expand...

Yes I do, the experience has been great so far and they even increased my limits, the process is difficult to go through but that's to be expected with every Swiss bank.

 

[MikeP]

johndunham said:
Why can't you just discuss things on the forum? You ask for help, and you respond with secretive nonsense. Weird behaviour.
Click to expand...

To my understanding mr. Gediminas is providing onboarding support. From what I´ve read
in other threads it helps if he has more information about my company in the unboarding process (company name etc.). I would prefer not to disclose such information on a public forum. If my actions are not in line with T&C of this forum, I stand corrected. In that case, I would appreciate if an admin could provide feedback. Thanks.

 

[zonez]

Same situation. Try openbank