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How to Buy Crypto with JS Bank in Pakistan

Last updated on November 12, 2023

Quick Summary: While JS 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 Pakistan 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.

JS Bank Homepage

As mentioned in my quick summary, like most Pakistan banks, JS 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 crypto trading platforms that you can use 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 JS 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 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 JS Bank.

Buy Crypto With Binance

About JS Bank

JS Bank Limited (JSBL) (jy ys bynkh Lmyttdd) is one of the Pakistani commercial bank with its headquarters at Karachi, Pakistan. It is a well-known major-ownership subsidiary belonging to JS Group.

The bank was created in April 2007 following the merger between two massive corporates: Jahangir Siddiqui Investment Bank Limited and American Express Bank. The bank in 2021 earned an overall revenue of Rs. 18.07 billion (US$79 million) and finished the year with funds of. 812.8 billion (US$3.6 billion). JS Bank Limited currently operates branches throughout Pakistan and also one branch that is international situated in Manama, Bahrain.

The Pakistan Credit Rating Agency Limited (PACRA) keeps the long-term rating of the entity JS Bank Limited (JSBL) to ‘AA-(Double A Minus). The short-term entity rating is kept at A1+ (A One Plus).

JS Bank origins began with the acquisition of Citicorp Investment Bank Limited by Jahangir Siddiqui & Co. Limited on the 1st February 1999, to create Jahangir Siddiqui Investment Bank Limited (JSIBL). JSIBL was 60% of Citicorp and was the sole owner of the company along with its operation in Pakistan. In 2007 JSIBL along with American Express Bank Limited – Pakistan operations were joined and resulted in the creation of JS Bank. Jahangir Siddiqui & Co. retained the majority share in the new entity.

The bank has 282 branches, and maintains the total assets of the equivalent of. 812.8 billion (US$3.6 billion) in 2021.

The bank quickly expanded its network , and it crossed it’s PKR 400 billion mark for deposits by the year 2020.

JS Bank holds the largest portion of the funds disbursed under the Rozgar Refinance Scheme amounting to PKR 10.8 billion, as in accordance with State Bank of Pakistan policy.