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How to Buy Crypto with Karnataka Vikas Grameena Bank in India

Last updated on November 12, 2023

Quick Summary: While Karnataka Vikas Grameena 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 Vikas Grameena Bank Homepage

As mentioned in my quick summary, like most India banks, Karnataka Vikas Grameena 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.

There are a large number of cryptocurrency exchanges 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 KVG 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 Karnataka Vikas Grameena Bank.

Buy Crypto With Binance

About Karnataka Vikas Grameena Bank

It is the Karnataka Vikas Grameena Bank (KVGB) is which is an Indian Regional Rural Bank sponsored by Canara Bank. It is owned by the of the Ministry of Finance , Government of India. The bank offers the services of retail banking to people living in rural areas. It has 628 branches spread across the regions of Karnataka and around North as well as Western Karnataka.

The bank was established on the 12th of September, 2005 following the merger of the four Regional Rural Banks (RRBs) specifically Malaprabha Grameena Bank, Bijapur(Vijayapura) Grameena Bank, Varada Grameena Bank and Netravathi Grameena Banks according to the suggestions of Narasimhan Committee under Government of India Notification of the 12th of September in 2005. The four RRBs that were amalgamated were owned by the Syndicate Bank(Now Canara Bank) and were located in Karnataka.

Following the merger in 2005, the size of the bank’s operations was approximately 23263.73 Crore. Following the merger the RRB was renamed Karnataka Vikas Grameena Bank with its headquarters in Dharwad under the patronage from Syndicate Bank. Puttaganti Gopi Krishna, General Manager of Canara Bank, took charge as the new Chairman of Karnataka Vikas Grameena Bank (KVGB), a Dharwad-headquartered Regional Rural Bank, on July 22, 2019.

The total assets of the Bank is the sum of Rs. 26269 crore as of 31.03.2020 comprised of the amount of Rs. 15178 Crores of deposits and advances of Rs. 11090 Crores and has Reserves of Rs. 1139 Crores. The time of Information Technology and banks are not the only ones to be affected as the entire banking sector is also influenced by technology. The bank also offers Core Banking Solutions at par with Nationalized/Private Banks.