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How to Buy Crypto with First Nations Bank of Canada

Last updated on November 12, 2023

Quick Summary: While First Nations Bank of Canada 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 Canada 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.

First Nations Bank of Canada Homepage

As mentioned in my quick summary, like most Canada banks, First Nations Bank of Canada 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.

Thankfully there are many crypto 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 FNBC

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 First Nations Bank of Canada.

Buy Crypto With Binance

About First Nations Bank of Canada

First Nations Bank of Canada (FNBC) is the first Canadian chartered bank that is independent of Indigenous shareholders. FNBC is an Schedule 1 Federally Regulated Bank under the Bank Act and received its charter on the 19th of November, 1996. The bank’s headquarters are within Saskatoon, Saskatchewan, Canada.

In the year 2014 Indigenous Canadian groups own 80 percent of the banks.

The bank is focused on commercial customers who are dominated by Indigenous people, such as Indigenous companies, Indigenous governments and organizations as well as non-Indigenous companies that serve Indigenous markets.

The bank also offers an increasing number of mortgages and personal loans mostly focused on its expanding branch network that includes nine branches that offer full-service and eight community banks in areas with large numbers of Indigenous peoples.

In the year 2009’s end The First Nations Bank had lent $160.2 million and had assets of $266.5 million. The profits increased between 2008 and 2009, from 88,000 to 157,000 dollars. In 2010 the bank reported the income in the range of $10.2 million.

The bank officially separated its relationship with TD Bank in 2012. The two banks signed a seven-year agreement beginning in 2007.

The bank is controlled by 78 Indigenous shareholders who hold an aggregate of more than 80 percent of the ownership stake in the bank’s shares.

FNBC offers services geared towards Indigenous and non-Indigenous customers. deposit accounts Investments, Commercial Loans, Mortgages, Micro Loans, Cash Management, Credit Products as well as ABM access.