Step into the crypto universe

A cryptocurrency is a digital asset that uses cryptography to secure transactions, control the creation of new units and verify the transfer of assets. Cryptocurrencies are not controlled by a central bank or government but work on decentralised networks based on blockchain technology.

Although some cryptocurrencies can be used as a payment method, Openbank only offers them as an investment.

At Openbank, you can buy and sell Bitcoin, Ether, Litecoin, Polygon and Cardano. It is currently not possible to bring your cryptocurrencies at other entities over to Openbank.

Bitcoin: It was created as a decentralised alternative to traditional money and launched as the first cryptocurrency in 2009. Its principal purpose is to allow peer-to-peer payments without going through financial intermediaries, such as banks.

Ether: Created in 2015, it is the native cryptocurrency of the Ethereum network, a platform designed to execute smart contracts and decentralised applications.

Litecoin: It was launched in 2011. It was designed as a lighter and faster version of Bitcoin, with shorter transaction times and lower fees.

Polygon: It was launched in 2017 with the goal of improving speed and reducing transaction costs on the Ethereum network through sidechains and other technologies.

Cardano: It was also launched in 2017. It is a smart contract platform focused on sustainability, scalability and security. It is committed to a scientific philosophy underpinned by academic reviews.

This market works similarly to other financial markets, such as the stock market or Forex, but with some distinctive features inherent to the digital and decentralised world.

The price of a cryptocurrency is mainly determined by its supply and demand, but it may also vary according to economic and technological news, regulations and market sentiment. Since it is open 24/7, prices can go up or down considerably, and in a very short space of time.

Your cryptocurrencies are stored in a cold wallet, which means they are stored in an offline system that remains disconnected from the internet.

In addition, we use physical and digital security protocols, similar to those used in financial institutions. This includes storage on specialised devices, located in secure places, with restricted and monitored access.

All our cryptocurrencies have the same fees:

• Buy and sell: 1.49% on the trade value, with a minimum of €1.

• No custody fee.

The cryptocurrency service we offer at Openbank is regulated by the the MiCA (Markets in Crypto-Assets) Regulation, which officially took effect in 2025. Its goal is to protect consumers, ensure financial stability, promote responsible innovation and prevent the unlawful use of cryptoassets.

In Spain, the National Securities Market Commission (CNMV) monitors compliance with this European regulation.

One of the risks of cryptocurrencies is their volatility, i.e., they can go up or down in a very fast and unpredictable way, so you can make money, but also lose it (even all of your investment). Plus, their value is not backed by any tangible asset, and they are not protected by systems such as the Deposit Guarantee Fund.

You should also bear in mind that they are complex financial products and are, therefore, not suitable for everyone (especially for investors with a low risk tolerance). In addition, the ownership of some cryptocurrencies is highly concentrated, which may affect their price or liquidity. This means you might not get a fair price or sell as quickly as you want.

There have also been cases of scams (such as selling fake cryptocurrencies) or fraud, and technical problems that can lead to the loss of cryptocurrencies such as cyber-attacks.

Finally, please note that there is a lot of misleading advertising, especially on social media, that highlights only the possible returns without mentioning the real risks or giving you unclear, incomplete, inaccurate or misleading information. You can read more about the risks here.