How to Buy Crypto with Indian Bank

Last updated on January 4, 2024

Quick Summary: While Indian 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.

Indian Bank Homepage

As mentioned in my quick summary, like most India banks, Indian 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 crypto trading platforms 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 Indian Bank

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

1. Pick a cryptocurrency exchange

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 Indian Bank.

Buy Crypto With Binance

About Indian Bank

Indian Bank is an Indian public sector bank which was founded in 1907 and with its headquarters in Chennai. It serves more than 100 million customers and has 571 branches, 39,734 employees and 39,734 employees with 5,428 ATMs as well as cash deposit machines. The total business of the bank has surpassed Rs.110,000 million (US$130 billion) by 31 March 2022.

The bank’s information systems and security procedures have been certified to comply with ISO27001:2013 standards. It has branches overseas that are located in Colombo and Singapore as well as Foreign Currency Banking Units at Colombo and Jaffna. It has 227 correspondent banks spread across 75 countries. Since 1969 it has been it has been owned by the Government of India has owned the bank. In the statement made by Indian Finance Minister Nirmala Sitharaman on August 30, 2019. Allahabad Bank merged from 1 April 2020. This makes Indian Bank now the seventh largest bank in the nation.

On the 30th of August the The Finance Minister Nirmala Sitharaman announced that Allahabad Bank would be merging with Indian bank. The merger is expected to make the seventh-largest private sector lender in the nation that has assets worth Rs8.08 crore (US$100 billion). In the end, the Union Cabinet approved the merger on March 4th, 2020. Indian Bank assumed control of Allahabad Bank on 1 April 2020.

On 1 April 2020 Indian bank and Allahabad bank merged. One of the oldest Joint Stock Bank in the nation, Allahabad Bank was founded on the 24th of April, 1865 with a small group of Europeans in Allahabad in a time that organized industries, trade , and banking were beginning to take shape in India. This is why the story of the bank is spread through three hundred years.