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How to Buy Crypto with Allied Bank in Pakistan

Last updated on November 12, 2023

Quick Summary: While Allied Bank does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Pakistan cryptocurrency exchanges to pick from, but we suggest using the Binance.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

Allied Bank Homepage

As mentioned in my quick summary, like most Pakistan banks, Allied Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange and comes with regulations and extra work for the banks.

There are a large number of crypto trading platforms that you can use to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use Binance as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Allied Bank

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto trading platform

As mentioned above, I’ll be using Binance for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With Binance

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For Binance there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Allied Bank.

Buy Crypto With Binance

About Allied Bank

Allied Bank Limited (ly’ydd bynkh lmyttddd) is the fifth-largest commercial bank of Pakistan which is also a part of the Ibrahim Group. Allied Bank with its registered headquarters in Lahore is among the biggest banks in the country , having more than 1400branches and ATMs.

The bank was among the very first Muslim bank in Pakistan before the independence (1942) under the name Australasia Bank. The name was changed as Allied Bank of Pakistan, from Australasia Bank Limited in 1974 in 1974, and Sarhad Bank Ltd, Lahore Commercial Bank Ltd and Pak Bank Ltd were also amalgamated into it.

ABL has been the initial Muslim Bank established on territory which later was renamed Pakistan. It was founded on 3 December 1942 as Australasia Bank at Lahore with capital of 0.12 million, amounted to by Kashmiri silk merchant Khawaja Bashir Baksh.

In December 2014 The Government of Pakistan sold-off its remaining 11.5 percent stake in ABL for PKR 14.4 billion. The deal was completed at a cost of. 110 for each share of the 131.3 million government shares.

In September of 2018, ABL opened its Shariah-compliant Aitebar Islamic Banking service through its 117 specially-designed Islamic branch networks in 53 cities across Pakistan.