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How to Buy Crypto with Nainital Bank in India

Last updated on November 12, 2023

Quick Summary: While Nainital 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.

Nainital Bank Homepage

As mentioned in my quick summary, like most India banks, Nainital 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 trading platforms 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 Nainital 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 Nainital Bank.

Buy Crypto With Binance

About Nainital Bank

Nainital Bank Limited (NTB) Nainital Bank Limited (NTB) (known as Nainital Bank) (Kumaoni: Naintaal BaiNk) is an established commercial bank that was founded in 1922. The bank is a fully owned subsidiary of the Bank of Baroda which is under the control of the Ministry of Finance of the Government of India.

This bank is expanding its operations to Uttar Pradesh and Uttarakhand, and only has the 166 branches that are located in Rajasthan, Delhi and Haryana. It has been transformed into TTC (Ten Thousand crore) Company and aims to be the most customer-centric bank in India and is classified as an official bank of the Reserve Bank of India.

Nainital Bank was founded by Govind Ballabh Pant. Then, in 1992 the state-owned Bank of Baroda (BOB) which is the second-largest bank in India was took an 98.6 percent (around 91%) share in Nainital Bank. They also created an affiliate.

In April 2004 National Insurance Company (NIC) reached agreements with Nainital Bank for distribution of its general insurance services through the branches of the bank across Uttarakhand, Haryana and New Delhi states. The bank’s net worth of about 1.12 billion as of the 31st of March, 2006. The bank began the rights offering in September of 2009 in order to increase the capital adequacy rate (CAR) up to 14. percent. This was after the bank had previously withdrawn plans for an IPO because of the market’s adverse conditions in 2007. By April 2010, the rights issue had raised around Rs300 millions (US$3.8 millions).

Nainital bank is affiliated to Bank of Baroda, HDFC Bank, LIC, National Insurance Company Limited and many more. At present, NBL has 166 branches located in Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan. They also offer online services as well as Personal Banking, Business Banking Rural and agricultural Banking. Nainital Bank Limited Nainital Bank Limited is registered as a scheduled commercial bank with the Reserve Bank of India (RBI) the central bank in India.