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How to Buy Crypto with Paschim Banga Gramin Bank in India

Last updated on November 12, 2023

Quick Summary: While Paschim Banga 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.

Paschim Banga Gramin Bank Homepage

As mentioned in my quick summary, like most India banks, Paschim Banga Gramin 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 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 Paschim Banga Gramin 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 Paschim Banga Gramin Bank.

Buy Crypto With Binance

About Paschim Banga Gramin Bank

Paschim Banga Gramin Bank is a top regional rural bank in India. It is a subsidiary of the Ministry of Finance , Government of India. It was founded on the 26th of February 2007 to exercise the power conferred under the Sub-section (1) of Section 23A of the Regional Rural Bank Act, 1976 (21 of 1976).

The bank was created through the merger from Howrah Gramin Bank, Bardhaman Gramin Bank and Mayurakshi Gramin Bank. The slogan of the bank can be described as “Bank for U – Banking for All”.

The bank is owned by UCO Bank and owned by the government of India as well as that of West Bengal and UCO Bank. The owners of the bank are UCO Bank (50%), the Government of India (50%), UCO Bank (35 percent) as well as The Government of West Bengal (15 15%). The head office of the bank is located in Tikiapara, Howrah, West Bengal.

As of March 31, 2019, the Bank had made an increase in net profits in the amount of Rs67.97 Million (US$850,000)

The bank is present in five districts within West Bengal State, namely, Howrah, Hooghly, Purba Bardhaman, Paschim Bardhaman and Birbhum and has its head office in Howrah, West Bengal.

The company has over 230 branches as well as four regional offices. Regional offices are located in Howrah, Hooghly, Bardhaman and Suri.