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How to Buy Crypto with Silkbank in Pakistan

Last updated on November 12, 2023

Quick Summary: While Silkbank 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.

Silkbank Homepage

As mentioned in my quick summary, like most Pakistan banks, Silkbank 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.

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 Silk 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 Silkbank.

Buy Crypto With Binance

About Silkbank

Silkbank offers financial services through branches that are located in 29 cities across the country. They offer an array of retail corporate, consumer, as well as Islamic products. They offer the most extensive range of products among the small-sized banks in the nation.

Their offerings comprise Retail, Corporate & Investment Banking, SME, Consumer and Islamic Banking. They offer debit and credit cards, a range of unique deposit products, and consumer loans, including personal loans, as well as an Revolving credit facility. They also have mortgage-based SME lending service and many different SME or Middle Market banking products with current digital banking capabilities.

Recently, they were recognized and awarded for their best innovations in retail banking with The International Bankers Award in 2020. Silkbank’s Credit Card is among the most popular credit cards available with a wide array of top-quality benefits and features to meet to your needs in a modern lifestyle. From cashback, category-based rewards to low-interest rates on Balance Transfers and Flexible Instalment Plans Silkbank offers the perfect account for your needs.

They strive to be among the top suppliers of services within their area and are determined to establish an environment of trust and trust with their clients. The bank is proud of being the sole bank to have more than 500 alliance partners who provide a range of deals and discounts.

The major investors of the Bank include Arif Habib Corporation Limited, Mr. Shaukat Tarin, International Finance Corporation and Mr. Zulqarnain Nawaz Chattha, Noumura European Investment Limited, Bank Muscat S.A.O.G and the Chairman is Mr. Azmat Shahzad Ahmed Tarin.