Raiffeisenbank crypto trading: four coins, no securities account, no deposit protection

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Raiffeisenbank Schwaben Mitte has switched on crypto trading in the VR Banking app and, according to the Augsburger Allgemeine, is the seventh Bavarian cooperative bank with BaFin approval. Four crypto assets, a settlement account instead of a securities account, an external custodian and no statutory deposit protection: that is what applies at your bank once it switches on.Add as a preferred source on GoogleFollow on Google NewsRaiffeisenbank Schwaben Mitte has switched on crypto trading in its banking app. If you hold an account there, you have been able for a few days to buy and sell four crypto assets directly through your bank, without opening a separate account at a crypto exchange. According to a report in the Augsburger Allgemeine on November 1, the bank from Krumbach is the seventh Bavarian cooperative bank to receive approval from BaFin, Germany's financial regulator, for crypto business. In practice, Raiffeisenbank crypto means four things: a settlement account is req...