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How to Buy Crypto with Karnataka Bank in India

Last updated on November 12, 2023

Quick Summary: While Karnataka 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.

Karnataka Bank Homepage

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

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

1. Pick a crypto 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 Karnataka Bank.

Buy Crypto With Binance

About Karnataka Bank

Karnataka Bank Limited is an Indian private sector bank with its headquarters in Mangalore. It is an A class Scheduled Commercial Bank with a network of 898 branches, one extension counter with 885 ATMs, 563 cash recyclers as well as 546 e-lobbies/mini-e-lobbies spread across 22 states and two union territories. The bank employs 8,519 people and has over 11 million customers across the United States. The shares of the bank are traded at BSE and NSE. NSE in addition to the BSE. The bank’s slogan is “Your Family Bank Across India”.

Karnataka Bank Limited has adopted the core banking system online banking, as well as created the “MoneyPlant” (885 ATMs, 563 cash recyclers, and 546 elobbies/mini elobbies) nationwide.

The branches are located across 22 Indian states as well as two Union Territories. The bank was established in August of 2008 and Karnataka Bank Limited introduced Quick Remit which is a service to facilitate money transfers for non-resident Indians in Canada, United States, and the UK. The bank also offers an open-to-all-day Internet banking service known as MoneyClick.

Karnataka Bank Limited provides business and personal banking products as well as solutions in India. The bank is a part of 4 segments: Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. It accepts current and savings accounts cash certificates as well as fixed or cumulative deposits non-resident rupee account and ordinary non-resident accounts along with foreign currency and accounts and also offers loans, like home, vehicle education, personal, MSME mortgage, women entrepreneurs gold, as well as other loans, in addition to loans against fixed and real estate deposits.

The bank also offers credit, debit, gift deposits only, image and travel cards and life, general and health insurance products; investment services; and remittance as well as other services.