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How to Buy Crypto with Bank of Maharashtra in India

Last updated on November 12, 2023

Quick Summary: While Bank of Maharashtra 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 India 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.

Bank of Maharashtra Homepage

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

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

Once you’ve signed up to a crypto exchange (in our example I’ll be using Binance as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Bank Of Maharashtra

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

1. Pick a cryptocurrency 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 Bank of Maharashtra.

Buy Crypto With Binance

About Bank of Maharashtra

Bank of Maharashtra is an Indian public sector bank with its headquarters in Pune. The bank has 29 million customers throughout the country , with branches in 2022 at the time of March 2022. It has the most extensive number of branches of any national bank within the State of Maharashtra. The total operations of the bank surpassed Rs 3,15,620 crore as of the 31st of December, 2021.

On this diwali was the time when this diwali, the Bank of Maharashtra was ready to pay 50% of its profits as the repo rate was increased to Reserve Bank of India by 0.5 percent.

The bank was established in 1935 by V.G.Kale as well as D. K. Sathe in Pune. The bank was officially registered on the 16th of September, 1935, with an approved capital amounting to $1 million. It became operational on the 8th of February, 1936. It was able to provide financial assistance to small-scale businesses, and also created a number of industrial enterprises. The bank was nationalized in the year 1969.

A. S Rajeev assumed charge as the CEO and Managing Director for the Bank on the 2nd of December 2018. A.B. Vijayakumar became Executive Director on March 10, 2021. Asheesh Pandey took over as Executive Director on the 31st of December 2021.

Allen C Pereira, Former Chairman of Bank of Maharashtra was responsible for opening numerous branches of the branch within the North East Zones of India in which the bank did not have a presence. He also assisted in the expansion of the branch.