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How to Buy Crypto with Islami Bank Bangladesh

Last updated on November 12, 2023

Quick Summary: While Islami Bank Bangladesh 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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Islami Bank Bangladesh Homepage

As mentioned in my quick summary, like most Bangladesh banks, Islami Bank Bangladesh 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.

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 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 Islami Bank

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

1. Pick a crypto 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 Islami Bank Bangladesh.

Buy Crypto With eToro

About Islami Bank Bangladesh

Islami Bank Bangladesh Ltd. (IBBL) (Bengali islaamii byaaNk bhak baaNlaadesh) is an Islamic bank located in Bangladesh. It was incorporated on March 13, 1983, in the form of a limited liability public business pursuant to the Companies Act 1913. It is owned by 36.91 percent of its shareholders from the local market and 63.09 percent foreign shareholders. As of November 19, IBBL has 350 branches comprising 59 AD Branches and 03 Offshore Bank Units and employing more than 13,500 employees.

In addition, IBBL maintains its own 621 ATM Booths as well as 33 IDM (IBBL Deposit Machine) in addition to an ATM network that is shared with 6,000 ATMs throughout the nation. IBBL generates approximately 29% of all national in remittances.

In 2015, IBBL served US$3,903.21 million of US$15,316.75 million in total money transfer. This means that IBBL is the most prestigious privately-owned banking system in Bangladesh. When IBBL was founded in the year 2000, it was the first institution to be established in Southeast Asia to provide banking services based on Shariah. The bank is listed on the two exchanges Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.