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How to Buy Crypto with MCB Bank in Pakistan

Last updated on November 12, 2023

Quick Summary: While MCB 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.

MCB Bank Homepage

As mentioned in my quick summary, like most Pakistan banks, MCB Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform and comes with regulations and extra work for the banks.

Thankfully there are many crypto exchanges 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 MCB 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 MCB Bank.

Buy Crypto With Binance

About MCB Bank

MCB Bank Limited (ym sy bynkh lmyttdd) is one of the Pakistani commercial bank multinational that is located within Lahore, Punjab, Pakistan. The majority of shares are held by Pakistani conglomerate Nishat Group and Malaysian bank Maybank. Maybank has 1600 branches across Pakistan.

It was founded through the Adamjee Group on July 9 the 9th of July 1947. The bank was created in order to provide banking services for the business community of South Asia. The bank was made a national in 1974 under the administration of Zulfikar Ali Banu Bhutto. This was the first institution to be privatized by the government in 1991 and the bank was bought by a group of Pakistani corporate companies led by Nishat Group. In June 2008, it was reported that the Nishat Group owns a majority part of the bank. The current president/CEO of this Bank is Shoaib Mumtaz.

The company is present in the various business areas of Pakistan, such as textile, banking cement, insurance, and cement. Mian Mohamed Mansha, the the chairman of the entire group as well as MCB. The bank has created the Islamic Banking unit to offer Shariah-compliant services and products that are specialized Islamic branch branches across six cities.

In 2005 the bank’s management changed their name to Muslim Commercial Bank Limited and changed it to MCB Bank Limited to explore markets outside of the United States; they were faced with resistance because of the term Muslim particularly coming from Western Countries to obtain a licence. In 2008, the head office of MCB was moved from MCB Tower in Karachi in Karachi to Lahore in a brand new structure, which is the MCB House located in Sharea Ghous-ul-Azam, commonly known as Jail Road.