• Home
  • /
  • Banks
  • /
  • How to Buy Crypto with Kotak Mahindra Bank in India

How to Buy Crypto with Kotak Mahindra Bank in India

Last updated on December 14, 2023

Quick Summary: While Kotak Mahindra 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.

Kotak Mahindra Bank Homepage

As mentioned in my quick summary, like most India banks, Kotak Mahindra 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.

Thankfully there are many cryptocurrency exchanges to pick from that allow you 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 Kotak Mahindra Bank

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

1. Pick a cryptocurrency trading platform

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 Kotak Mahindra Bank.

Buy Crypto With Binance

About Kotak Mahindra Bank

Kotak Mahindra Bank Limited is an Indian banking and financial services business with its headquarters in Mumbai. It provides banking products as well as financial services for clients of both retail and corporate in the fields of personal financial and investment banking, as well as life insurance, as well as wealth management. It is the second-largest private sector bank in terms of market capitalisation at the time of November 2021. At the time of writing, February 20, 2021, it had 1519 branches and 2519 ATMs.

It was in 1985 that Uday Kotak established Kotak Capital Management Finance as an investment and financial service company. The company was funded by borrowing Rs30 lakh from his family and friends. The year 1986 saw Anand Mahindra and his father Harish Mahindra invested Rs1 lakh into the company. It was later changed to Kotak Mahindra Finance. The company began by engaging in bill discounting in addition to leasing and hire purchase.

In March of 2017, Kotak Mahindra Bank launched an online savings account known as Kotak 811 named in honor of the day Narendra Modi declared demonetisation earlier in the year. This, according Uday Kotak Uday Kotak as “the day that changed India.” Kotak 811 has helped the bank increase its customer base by doubling until September 2018.

In April of 2017, Kotak Mahindra Bank acquired Old Mutual’s 26 percent part of Kotak Mahindra Old Mutual Life Insurance for Rs 1,292 million (US$198.4 million) and made this life insurer a entirely owned subsidiary.

in 2021 Kotak Mahindra Bank sold its 8.57 percent part of Airtel Payments Bank to Bharti Enterprises for the sum of Rs295 million (US$39.81 millions). The same year, Kotak Mahindra Group acquired the finance portfolio for vehicles from Volkswagen Finance India and passenger vehicle financing portfolios that is owned by Ford Credit India.