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How to Buy Crypto with Bank of Punjab in Pakistan

Last updated on November 12, 2023

Quick Summary: While Bank of Punjab 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.

Bank of Punjab Homepage

As mentioned in my quick summary, like most Pakistan banks, Bank of Punjab 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 Bank Of Punjab

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 Bank of Punjab.

Buy Crypto With Binance

About Bank of Punjab

Bank of Punjab Bank of Punjab (bynkh af the pnjb) is an Pakistani bank that is located at Lahore, Pakistan. It is a bank that serves Pakistan and acts as an international banking institution and is among the top banks in the country with AAA ratings from the Pakistan Credit Rating Agency (PACRA).

The bank was created in the month of October 1989, as per the Bank of Punjab Act 1989 and was granted the statutory of a bank for retail in 1994.

The Bank of Punjab was founded by Tajammal Hussain. The bank operates as a scheduled commercial bank with more than 587 branches located in important business centers across the nation. It is the 7th largest commercial bank in the nation. It offers a variety of banking products, such as the deposit of local currency; clients’ deposits in foreign currencies as well as remittances and advances to businesses industries, trade, and agriculture. First Punjab Modaraba (FPM) is a wholly owned affiliate of the Bank, founded in 1992 and is operated through Punjab Modaraba Services (Pvt) Ltd.

Presently it is the Bank of Punjab is headed by Zafar Masud, who was appointed CEO and president in April 16th, 2020 following his appointment by the Government of Punjab, Pakistan prior to that and then having been approved by the State Bank of Pakistan.