At a first Volksbank, customers can now buy bitcoins and other digital currencies. Trading takes place in cooperation with the Stuttgart Stock Exchange. Initially, however, the offer will only be made to “high-end private customers”. A nationwide introduction is planned.

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Volksbank: Cryptocurrency trading started

While it is still being discussed elsewhere, the Volksbank Kurpfalz has the Started trading in cryptocurrencies like Bitcoin. The offer will be realized together with the Stuttgart Stock Exchange. Before making a purchase, “high-end private customers” are invited to a consultation where the particular risks of cryptocurrencies are explained. Curiously, the Volksbank itself does not recommend trading in Bitcoin & Co.

If customers are not deterred by this, an account will be opened at the Boerse Stuttgart Digital Exchange and nothing will stand in the way of independent trading in cryptocurrencies. the Buying bitcoins takes place via a third party. According to the Volksbank Kurpfalz, there is a small commission for the mediation of customers, which is described as not covering costs (source: Handelsblatt).

The Volksbank states that they want to serve existing customer demand and be involved with the “new technology” at an early stage. “For us, this is not an area to generate income,” says Volksbank division manager Christopher Kalinasch. At a comprehensive solution for retail is worked. It is not yet known when all customers will be able to purchase bitcoins via the Volksbank.

How to invest with Bitcoins:

Bitcoins: savings banks remain cautious

Unlike the Volksbank, the Sparkasse is still cautious when it comes to trading in cryptocurrencies. According to Sparkasse President Helmut Schleweis, these are investments in the crypto market for a “gamble”. The savings banks also have plans for cryptocurrencies.