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How To Buy Crypto As A Business? [Full Guide]

This century the biggest financial and digital phenomena is obviously the creation of Bitcoin and Blockchain technology. This surge in institutional adoption of cryptocurrencies in 2024 just paves the way for mainstream business adoption. For many companies and businesses, however, the prospect of investing in or using crypto can be extremely complicated as traditional banks are still blocking any transactions related to cryptocurrencies.



Why Should Your Business Have Interest in Crypto?


The question on many business leaders’ minds is: “Is Bitcoin a good investment for us?” or “Could crypto currency be an alternative payment method for our business?”. The answer largely depends on your company’s financial strategy, objectives, and risk tolerance. Despite the cryptocurrency market’s inherent volatility, there are compelling reasons for businesses to consider using cryptocurrencies:


1. Portfolio Diversification: Cryptocurrencies offer a way to diversify beyond traditional assets, spreading risk and potentially increasing returns.

2. Efficient Payments: Using stable coins or main stream cryptocurrencies can be a convenient method for transacting, especially for businesses in high risk industries or emerging markets as traditional banks are expensive, slow and rigid.

3. Hedge Against Inflation: Bitcoin or cryptocurrencies in general can serve as a hedge against inflation and fiat currency devaluation, with increasing mainstream acceptance and recognition.


For the readers interest, multiple publicly traded companies have significant exposure to Bitcoin. Notable examples include MicroStrategy, Tesla, and Marathon Digital Holdings, each holding substantial amounts of Bitcoin valued in the hundreds of millions to billions of dollars.



How To Buy Crypto As A Company?


Purchasing cryptocurrencies as a company is not easy, however these steps can help you:


1. Setting Up A Crypto Wallet: The first step is to create a crypto wallet for your business. This wallet will hold your Bitcoin, Ethereum, or other cryptocurrencies and needs to be secure and reliable. Choosing the right wallet is crucial; consider options like hardware wallets for high security or private wallet providers.


2. Choosing a Crypto-Friendly Bank: Select a reputable cryptocurrency exchange or service provider that supports corporate clients. Some digital banks are differentiating themselves and adding a crypto services layer where corporate clients can have a bank account and crypto wallet within the same platform. If you fill out our contact form we will send you an up to date list of such banks by email.


3. Tax Duties: Familiarize yourself with the legal and tax implications of holding and transacting in Bitcoin or other cryptocurrencies in your jurisdiction.



Selecting A Crypto-Friendly Bank


There are several crypto-friendly banks and financial institutions that focus on crypto integration to traditional banking where clients could hold and transact in both – fiat and crypto.


- Dedicated IBAN Accounts: These accounts are designed to handle fiat currency payments, however crypto related flows are supported and not stopped.

- Easy On-Ramp and Off-Ramp: Once you have a dedicated IBAN, you can exchange your fiat money to crypto and vice versa using a single account set-up and access.

- Security and Reliability: Such modern digital banks prioritize the security of both fiat and crypto transactions therefore employing advanced security protocols to safeguard your assets and data.

- Dedicated Support: They offer dedicated support to address any queries or concerns that your business might have, ensuring a smooth banking in fiat and crypto together.



Steps To Open A Corporate Account


1. Sign Up: Begin by researching and choosing a crypto-friendly bank or service provider. Sign up for a business account, providing necessary details about your company. If you would like to get a list of best crypto-friendly digital banks, fill out our contact form and we will share it with you by email.


2. Complete KYB: This involves verifying your business’s identity and compliance with relevant regulations. You may need to provide documents such as your business registration, proof of address, and information about company directors and shareholders.


3. Test The Platform: Once your account is set up, decide which cryptocurrency you want to buy (e.g., Bitcoin, Ethereum, or USDT) and the amount of fiat currency (e.g., Euros, USD) you want to spend.


4. Transfer Fiat Currency: Transfer fiat currency from your business bank account to your new crypto account. Ensure that the transaction is directed to a dedicated account issued in your company’s name to ensure seamless processing.


5. Receive Crypto: Once the payment is received, it will be promptly converted to your chosen cryptocurrency and sent to your designated crypto wallet. If your bank supports instant transactions, the process can be completed in minutes.





By selecting the right crypto-friendly bank and setting-up crypto wallet you can start invest or use cryptocurrencies for your business portfolio or operations.

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