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How to Buy Crypto with Sonali Bank in Bangladesh

Last updated on November 12, 2023

Quick Summary: While Sonali 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 Bangladesh cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

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.

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Sonali Bank Homepage

As mentioned in my quick summary, like most Bangladesh banks, Sonali Bank 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.

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro 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 Sonali Bank

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using eToro 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 eToro

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 eToro 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 Sonali Bank.

Buy Crypto With eToro

About Sonali Bank

Sonali Bank Limited (Bengali: sonaalii byaaNk limitedd) is the state-owned, leading commercial banking institution in Bangladesh. It is the biggest bank in the nation. Ziaul Hasan Siddiqui serves as the chairperson of the Bank. Niranjan Chandra Debnath and Sanchia Binte Ali serve as the deputy managing directors of the bank.

Sonali Bank was established in 1972, under the Bangladesh Banks (Nationalisation) Order that incorporated and nationalisation of branches from the National Bank of Pakistan, Bank of Bahawalpur, and Premier Bank branches located in East Pakistan until the 1971 Bangladesh Liberation War. When it was first established, Sonali Bank had a funded capital that was 30 million taka.

Sonali Bank has a total of 1230 branches. The latest branch that started service is located in Dinajpur Board Branch, Dinajpur. Of these, 467 are situated within urban zones, while 746 are are in the rural regions, while two are in overseas (India). Sonali also runs Sonali Exchange Company Inc. in the USA, Sonali Exchange in Dubai (UAE), Sonali Bank (UK) Ltd., United Kingdom, Hong Kong, (HAR), and Singapore to facilitate the remittance of foreign exchange. Sonali Bank UK remits up to 25 destinations in Bangladesh directly, including Dhaka, Chittagong, Sylhet, Moulvibazar, Beanibazar, Balaganj, Biswanath, Jagannathpur, Sunamganj, Gopalganj, Nabiganj Upazila Hobigonj, Kulaura, Tajpur.

In the year 2010, Islamic banking was launched in five branches across various districts across the country, through Sonali Bank. In 2009, Islami banking was introduced in six branch locations operated by Sonali Bank in different districts across the country.