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Home Challanger banks Crypto and Bitcoin purchasing with Lunar Bank - here’s how it’s done

Crypto and Bitcoin purchasing with Lunar Bank – here’s how it’s done

Lunar Bank offers cryptocurrency investing for customers in Denmark. 

However, it is one of the most expensive ways to invest in the asset class, with fees starting at 2.5% per trade. 

Lunar also offers a very limited selection of assets, with only Bitcoin, Ethereum, Cardano, Polkadot and Dogecoin available.

The recommended alternative for Danish investors is Uphold, as they are a licensed and regulated platform in Denmark that offers over 250 cryptocurrencies to buy & stake with zero fees and tight spreads. 

The platform boasts over 10 million users across Europe and offers fast & cheap DKK & EUR deposits from Lunar Bank.

How to Buy Bitcoin and Crypto with Lunar

Are you looking to invest in cryptocurrencies but don’t know where to start? Lunar Bank is a Danish online bank that offers a range of banking services, including the ability to buy and sell cryptocurrencies. However, as we’ll discuss below, there are more cost-effective options available.

Why Lunar Crypto Fees are Expensive

The reason why Lunar Bank is one of the most expensive places to buy cryptocurrencies is because of its business model.

They offer a fairly limited selection of assets, and they mark up the prices higher than other exchanges in order to make a profit.

Moreover, they charge 2.5% per trade on top of the fee charges in the spread of their buy and sell price, which can average an additional 1% per transaction.

The Better Alternative: Using Uphold

The best way to buy cryptocurrencies with Lunar is by withdrawing funds from your Lunar Bank account onto a licensed & regulated trading platform.

This is because platforms like Uphold offer significantly lower fees and hundreds of cryptocurrencies to buy, sell, and stake.

You can get started from your Lunar Bank account in 4 simple steps:

  1. Sign Up: Create an account on Uphold and complete your verification (personal or company).
  2. Connect Account: Select the currency you want to deposit on the Uphold Platform (DKK, EUR +30 more).
  3. Deposit Funds: Connect your Lunar Bank account to quickly deposit fiat currency.
  4. Buy Crypto: The final step is to find the crypto you want to buy and execute your trade.

What is Lunar Bank?

Lunar Bank is a Danish online bank founded in Copenhagen, Denmark, in 2018. The bank offers a range of banking services and products to customers in Denmark and the European Union.

Lunar’s mission is to make it easier for people to manage their finances by providing an innovative and tailored approach to banking while building trust among customers.

It provided its users with secure and convenient online banking services, such as deposits, transfers, payments, and loans. The bank also offers competitive interest rates on savings accounts and other investment products.

Additionally, Lunar Bank provides 24/7 customer service to help customers with their banking needs.

Final Thoughts

While Lunar Bank offers a convenient option for Danish customers to buy and sell cryptocurrencies, it’s not the most cost-effective option.

Instead, consider using a licensed and regulated trading platform like Uphold, which offers better prices and access to over 250 cryptocurrencies. 

With Uphold, you’ll also benefit from fast & cheap DKK & EUR deposits from Lunar Bank.

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