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How to Buy Crypto with Faysal Bank in Pakistan

Last updated on November 12, 2023

Quick Summary: While Faysal 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.

Faysal Bank Homepage

As mentioned in my quick summary, like most Pakistan banks, Faysal 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.

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 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 Faysal Bank

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 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 Faysal Bank.

Buy Crypto With Binance

About Faysal Bank

Faysal Bank Limited is a Pakistani Islamic bank, a subsidiary of KSA Holdings ultimate parent of the bank which is KSA Holdings and Ithmaar Bank located within Karachi, Pakistan. Its name comes from Mohammed bin Faisal Al Saud.

Faysal Bank started in Pakistan in the month of October 1987, with a small branch, and as an affiliate to Faysal Islamic Bank, a Bahraini bank that is owned by Mohammed bin Faisal Al Saud who is the son of late the King Faisal in Saudi Arabia.

It was established in Pakistan on the 3rd of October 1994. It was incorporated as a private limited corporation as per the Companies Ordinance, 1984. ABN AMRO Bank Pakistan, the predecessor of Faysal Bank, acquired Prime Commercial Bank comprised of branches with 69 branches spread across 24 towns in the year 2007 to $227 million to increase its deposit and loan base.

In June of 2010, Royal Bank of Scotland was sold the Pakistan activities in Pakistan to Faysal Bank for PS34 million.

In 2014, it announced that it would transform itself into a fully-fledged Islamic Bank in three to five years. The bank finally became fully-fledged Islamic bank by the end of December 2022.