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How to Buy Crypto with Madhyanchal Gramin Bank in India

Last updated on November 12, 2023

Quick Summary: While Madhyanchal Gramin 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.

Madhyanchal Gramin Bank Homepage

As mentioned in my quick summary, like most India banks, Madhyanchal Gramin 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.

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 Madhyanchal Gramin Bank

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

1. Pick a crypto 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 Madhyanchal Gramin Bank.

Buy Crypto With Binance

About Madhyanchal Gramin Bank

Madhyanchal Gramin Bank is a rural regional bank located in India. It is a subsidiary of the Ministry of Finance , Government of India. It was created by combining three rural banks from the State of Madhya Pradesh in central India specifically Madhya Bharat Bank, Sharda Grameen Bank, Rewa Sidhi Grameen Bank which is sponsored by State Bank Of India, Allahabad Bank and Union Bank of India.

Its headquarters are in Saugor. The current sponsor of the bank is State Bank of India. Madhyanchal Gramin Bank has presence across 13 districts of Madhya Pradesh Damoh, Sagar, Shivpuri, Guna, Ashoknagar, Tikamgarh, Chhatarpur, Panna, Satna, Rewa, Sidhi, Niwari and Singrauli. There are 454 branches as well as seven regional offices located within Rewa, Sidhi, Satna, Damoh, Shivpuri, Chhatarpur and Tikamgarh.