How to Buy Crypto with HDFC Bank in India

Last updated on January 6, 2024

Quick Summary: While HDFC 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.

As mentioned in my quick summary, like most India banks, HDFC Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform 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.

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 HDFC 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 cryptocurrency

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 HDFC Bank.

Buy Crypto With Binance

About HDFC Bank

HDFC Bank Limited (also known as HDB) is an Indian financial and banking services firm based in Mumbai. It is the largest private sector bank with assets, and is the 10th largest bank in terms of market capitalisation in April 2021. It is the third-largest company in terms of market capitalisation, which is $127.16 billion, according to the Indian stock exchanges. In addition, it is 15th biggest employer in India with over 150,000 employees.

HDFC Bank was incorporated in 1994 as an affiliate to the Housing Development Finance Corporation, with its registered address in Mumbai, Maharashtra, India. The first corporate office of the bank and a branch with full-services in Sandoz House, Worli were inaugurated by the former Union Finance Minister, Manmohan Singh.

As of the 30th of June, 2022 the bank’s distribution system included 6,378 branches in 3203 cities. The bank has installed 430,000 POS terminals, and issued 23,570,000 debit cards as well as twelve million credit cards during the fiscal year 2017. It had a base of 1,52,511 employees who are permanent up to the date of 30 June 2022.

HDFC Bank provides a number of products and services , including retail banking, wholesale banking and auto loans two-wheeler loans personal loans, mortgages against properties consumer durable loan lifestyle loans as well as credit card. In addition, there are a variety of digital services include Payzapp along with SmartBUY.