• Home
  • /
  • Banks
  • /
  • How to Buy Crypto with National Bank of Canada

How to Buy Crypto with National Bank of Canada

Last updated on November 12, 2023

Quick Summary: While National Bank of Canada 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 Canada 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.

National Bank of Canada Homepage

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

There are a large number of cryptocurrency trading platforms 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 National 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 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 National Bank of Canada.

Buy Crypto With Binance

About National Bank of Canada

The National Bank of Canada (French: Banque Nationale du Canada) is the sixth-largest commercial lender in Canada. Its headquarters are in Montreal and has branches in all Canadian provinces as well as 2.4 million customers who are personal. National Bank is the largest bank in Quebec and is also the second-largest banking institution within the province following Desjardins Credit Union. National Bank’s institution number is 0006 and its SWIFT code is BNDCCAMMINT.

The month of August, 2021 was the time that National Bank brokerage became the second Canadian financial institution to provide direct brokerage online for free following Wealthsimple launched it as the first.

On the 31st of October of 2019 National Bank had a network of 422 branches as well as 939 automated teller machine in Canada. Additionally, it had representative office, subsidiaries, and partnerships across other countries, through which it provides Canadian as well as non-Canadian customers. It also owns ABA Bank in Cambodia.

National Bank’s operations are concentrated in Quebec but it is expanding into other provinces. The year ended the 31st of October, 2017 59% of the total revenues came coming from Quebec 30 percent came from other provinces and 11% of International operations. The company’s total earnings for the year was divided over the following different business segments:

The year 2011 was the one in which National Bank was placed third on Bloomberg’s list “The World’s Strongest Banks”. in 2018, it was placed 41st in Go back Financial’s ranking of the top 50 banks.