Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

RBC connects with premier cryptocurrency exchanges to bridge traditional banking with the evolving digital currency market. This showcases its commitment to offering secure and innovative banking solutions in the global financial landscape.

For RBC customers eager to venture into cryptocurrencies, Kraken is the platform of choice. Kraken is widely recognized for its stringent security measures and clear operational processes. It features an impressive collection of over 200 cryptocurrencies and swift CAD deposit methods.

Kraken Canada
Kraken Canada

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating
9.5

Supported Assets

200+ Cryptocurrencies

Trading Fees

0.16% Maker Fees & 0.26% Taker Fees

Can I Invest in Crypto with RBC?

RBC enables a smooth transition into digital currencies by supporting CAD fund transfers to established cryptocurrency trading platforms, allowing its users to enter the emerging market safely.

It's important to note that RBC does not offer a direct method for storing cryptocurrencies through its banking services. To securely store, handle, and manage digital currencies, it is wise to utilize a Canadian exchange that adheres to the country's financial regulations.

How to Buy Crypto with RBC

RBC simplifies the crypto purchasing process by facilitating transfers to certified exchanges, ensuring your investments' safety. Kraken, with its strong commitment to regulatory compliance and advanced security features, is the preferred option for RBC clients as it accepts deposits in CAD and provides low fees. To start buying crypto through RBC, here are the steps to follow:

  1. Create an account on Kraken and go through the identity verification process.
  2. Access the 'Funding' section, select your preferred payment method, and make a transfer from your RBC account.
  3. Find the cryptocurrency you wish to purchase and select the 'Trade' option.
  4. Specify the investment amount and conclude the purchase by clicking on 'Buy.'
How to Buy Crypto with RBC

Does RBC Block Crypto Transactions?

No, RBC does not restrict transfers to regulated digital asset investment platforms. The bank illustrates a progressive attitude toward cryptocurrency by allowing transactions with internationally recognized exchanges.

This policy highlights the bank's effort to uphold the security and integrity of cryptocurrency transactions, enabling its customers to engage with exchanges that meet the strict KYC and AML requirements imposed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Digital Asset Investing Fees

Engaging in crypto trading on platforms like Kraken involves various fees essential for their operation. It's important for traders to grasp these fees to make savvy investment choices. Here's a quick guide to the fees on Kraken:

  • Adding Funds: Topping up your account could come with some fees, though Kraken strives to minimize these. Crypto or CAD deposits are generally free, but be aware that Interac e-transfers will incur a 0.5% fee, and cash deposits cost 0.25% + $1.25 CAD.
  • Withdrawing Funds: When you're ready to move your assets out of Kraken, withdrawal fees come into play. Crypto withdrawals have fixed fees to cover blockchain transactions, while CAD withdrawals may vary. For instance, Interac e-transfers cost 10 CAD, SWIFT transfers cost 13 CAD, EFT withdrawals cost 0.35%, and wire transfers are free.
  • Trading Fees: Every transaction on Kraken has a fee based on the trade's value. These fees are influenced by factors like your trading activity, account tier, and whether your order adds to or subtracts from market liquidity. Initial fees start at 0.16% for makers (those adding liquidity) and 0.26% for takers (those taking liquidity).

For high-volume traders, Kraken provides incentives through fee reductions, potentially going down to 0% for those trading above $10 million monthly.

Closing Thoughts

RBC's alignment with global financial standards and its collaboration with respected platforms like Kraken offers a solid foundation for individuals interested in exploring the digital asset space. Although RBC does not directly engage in cryptocurrency trading, it enables secure transfers to regulated exchanges, ensuring a seamless and safe investment experience for its clients.

Author

Elena Boyaci is the proactive editor-in-chief of StacksOnChain, bringing her extensive journalism experience to the forefront. She spearheads a committed team, focusing on providing prompt and comprehensible updates on crypto and finance.

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