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How to Buy Crypto with Bidvest Bank in South Africa

Last updated on November 12, 2023

Quick Summary: While Bidvest 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 South Africa cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

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.

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Bidvest Bank Homepage

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

There are a large number of cryptocurrency exchanges 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 eToro 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 Bidvest Bank

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

1. Pick a crypto trading platform

As mentioned above, I’ll be using eToro 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 eToro

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 eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

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 Bidvest Bank.

Buy Crypto With eToro

About Bidvest Bank

Bidvest Bank (BVBL) is a commercial institution in the Republic of South Africa. It is certified as an “locally-controlled bank” by the Reserve Bank of South Africa, the country’s banking regulator. It is a specialist bank that specializes in foreign exchange, and also offering automobile financing, retail banking and insurance.
In 1998 in 1998, Bidvest Group was acquired in 1998. Bidvest Group acquired Rennies Foreign Exchange in the course of the acquisition by the Rennies Group.

After 2000’s issue of a bank license by the South African Reserve Bank, Rennies Foreign Exchange became Rennies Bank.

In 2007, Rennies Bank rebranded into Bidvest Bank. It has more than 140 branches of retail banking throughout South Africa. It’s still very involved in the needs of banking of tourists and business travelers However, it offers a wide range of products for retail banking that are available.

The bank is a 100 100% subsidiary of its parent company Bidvest Group Limited (BVGL) which is an located in South Africa. International company conglomerate.