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How to Buy Crypto with Grameen Bank in Bangladesh

Last updated on November 12, 2023

Quick Summary: While Grameen 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 Bangladesh 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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Grameen Bank Homepage

As mentioned in my quick summary, like most Bangladesh banks, Grameen 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 trading platforms 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 Grameen Bank

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

1. Pick a cryptocurrency exchange

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 Grameen Bank.

Buy Crypto With eToro

About Grameen Bank

Grameen Bank is a microfinance institution as well as a community-based development bank that was established in Bangladesh. It offers smaller credit (known as microcredit ) or “grameencredit” to the impoverished without the requirement of collateral.

Grameen Bank originated in 1976 as a result of the work by Professor Muhammad Yunus at University of Chittagong who initiated an investigation project to investigate the best way to create a credit delivery system in order to offer banking services to the rural poor. In October 1983 , the Grameen Bank was authorised by law to operate in the capacity of an autonomous bank.

Muhammad Yunus was inspired during the Bangladesh hunger of 1974. He decided to offer a modest loan of 27 dollars to 42 families to help them start their own business in order to allow them to make products for sale without the burdens of high-interest due to loans that were shady. Yunus was convinced that making loans available to a wider number of people could boost business and help alleviate the huge rural poverty that exists in Bangladesh.

In 2017 the Bank had around 2600 branches, and 9 million borrowers with an average repayment rate of 99.6 percent. 97 percent of the borrowers were women. The Bank is active in 97 percent of villages in Bangladesh. The Bank’s success has been a source of inspiration for similar initiatives in over 64 countries around the globe which includes an World Bank initiative to finance Grameen-type schemes.

Grameen Bank is now expanding into countries with high-incomes as well. In 2017, Grameen America had 19 branches spread across 11 US cities. Its borrowers, who totaled nearly 100,000, were women.