Letztes Update: 1. August 2024
You have been able to set up a Swissquote Shares and ETF Savings Plan for over a year now. Swissquote has recently introduced standing orders – also known as recurring orders – for cryptocurrencies. In this step-by-step guide, you will learn how easy it is to set up a Swissquote Bitcoin savings plan. We also take a look at the Swissquote Bitcoin fees.
Swissquote and Bitcoin
Swissquote was the first Swiss bank to jump on the crypto bandwagon and has now even launched its own crypto exchange, SQX. This pools liquidity from large external crypto exchanges as well as from Swissquote and its clients, thereby offering more competitive prices. With the Swissquote Wallet function, you can also store your crypto portfolio with the security of a Swiss bank.
Set up a Swissquote Bitcoin savings plan
Log in to your Swissquote account and click on the “Access the platform” button for the desired account. In the account overview you can see all the positions you hold and if you already own Bitcoins, you can click on “Buy” on the far left.
If you have not yet bought Bitcoins, you can also click on “Markets” and under “Products” you will find the category “Crypto investments”. There, for example, you can click on “Trade” for “BTC/USD” and you will also be taken to the following input screen:
In our example, we set up a Bitcoin savings plan of CHF 100 per month. So you select “Amount USD”, enter USD 100 and select “Recurring” under order type. You can choose between limit, market and stop limit order types. You can select the following intervals under “Frequency”:
- daily
- weekly
- every 2 weeks
- monthly
Finally, enter the start date. Before you create the order, you will be shown the costs incurred. When you click on “Create order”, you must then accept a disclaimer.
The Bitcoin savings plan appears in the account overview under “Recurring orders”. Here you can customize or delete it. Changes do not apply to orders that are planned for the day in question and have already been placed on the market.
The Swissquote Bitcoin savings plan is only available on the desktop. However, Swissquote is working to ensure that the Bitcoin savings plan can also be created and edited via the app.
When you access your trading account and click on “Crypto Assets” in the top right-hand corner, a new window will open. Curiously, it is not possible to create recurring investments in this view.
Swissquote Bitcoin savings plan fees
Swissquote Bitcoin fees are becoming increasingly attractive as trading volumes rise. Incidentally, they apply not only to Bitcoin, but also to the other 39 cryptocurrencies tradable at Swissquote.
| Transaction amount (CHF) | Fees (%) |
|---|---|
| 10 – 9’999 | 1% |
| 10’000 – 49’999 | 0.75% |
| from 50’000 | 0.5% |
A fee of USD 10 is charged for the transfer of cryptocurrencies from an external wallet to Swissquote with a value of less than USD 500. For higher amounts, the transfer from Swissquote is free of charge. The withdrawal fee is USD 10 for Bitcoin, other cryptocurrencies sometimes have higher withdrawal fees. In addition, a quarterly custody account fee is payable, for the calculation of which all assets held with Swissquote are added together, i.e. including shares and ETFs.
Bitcoins can only be bought in EUR or USD, so don’t forget the exchange fee of 0.95% for exchanging currency from CHF to USD, for example. You should avoid negative balances in foreign currencies, otherwise you will incur debit interest. These can be up to 10% per year, especially for foreign currencies, and depend on the respective reference interest rate of the currency.
There are no stamp duties or exchange fees when buying cryptocurrencies.
Alternative Swissquote Bitcoin savings plan
With Relai, the Swiss Bitcoin app, you can also easily set up a Bitcoin savings plan. Here you build up your Bitcoin portfolio in your own self-custodial wallet. Relai offers an intuitive user interface and only charges buy and sell fees, no custody fees as with Swissquote. However, you are responsible for keeping them safe.
Conclusion Swissquote Bitcoin savings plan
The Swissquote Bitcoin savings plan offers a simple and convenient way to buy Bitcoins on a regular basis and thus benefit from the cryptocurrency’s long-term performance. Setting up the Bitcoin savings plan is easy and takes just a few minutes. In addition, the fees are competitive compared to other providers.
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Transparency and disclaimer
I was not paid by anyone for this blog post, it reflects my subjective opinion.
If you open accounts or business relationships, order products or services through my links and codes, I may receive a commission for doing so. However, you will not suffer any disadvantages such as higher prices or the like. The terms and conditions of the respective providers apply. Affiliate links are marked with a *.
Investments are associated with risks which, in the worst case, can lead to the loss of the capital invested.
All publications, i.e. reports, presentations, notices as well as contributions to blogs on this website (“Publications”) are for information purposes only and do not constitute a trading recommendation with regard to the purchase or sale of securities. The publications merely reflect my opinion. Despite careful research, I do not guarantee the accuracy, completeness and timeliness of the information contained in the publications.