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How to Buy Crypto with Dhanlaxmi Bank in India

Last updated on November 12, 2023

Quick Summary: While Dhanlaxmi 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 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.

Dhanlaxmi Bank Homepage

As mentioned in my quick summary, like most India banks, Dhanlaxmi Bank 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.

Thankfully there are many cryptocurrency exchanges to pick from that allow you 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 Dhanlaxmi 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 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 Dhanlaxmi Bank.

Buy Crypto With Binance

About Dhanlaxmi Bank

Dhanlaxmi Bank Ltd is an Indian private sector bank that is headquartered located in Thrissur, Kerala. It has 245 branches as well as 258 ATMs/CDMs scattered across those states: Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Gujarat, Delhi, West Bengal, Madhya Pradesh, Punjab, Uttar Pradesh, Rajasthan, Chandigarh, and Haryana.

Dhanlaxmi Bank Ltd was incorporated on the 14th of November 1927. It was incorporated as Dhanalakshmi Bank at Thrissur with the capital of Rs11,000 with seven employees. It was made an Scheduled Commercial Bank in the year 1977.

The bank been renamed from Dhanalakshmi Bank to Dhanlaxmi Bank on the 10th of August, 2010.

This bank has been a participant in the depository in NSDL (National Security Depository Limited) providing Demat services via specific branches. It has joined forces with AGS Infotech for installation of ATMs. It provides VISA Rupay and Rupay-branded debit cards as well as VISA credit cards with branches to its customers. It also provides the insurance service through Bajaj Allianz Life Insurance and CANARA HSBC OBC LIFE company as their Bancassurance life insurance channel partner as well as Bajaj Allianz General Insurance as General Insurance Channel Partner.

On March 10, 2010, Bank announced Dhanlaxmi Bank Platinum and Gold Credit cards.