How to Buy Crypto with South Indian Bank

Last updated on November 12, 2023

Quick Summary: While South Indian 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.

South Indian Bank Homepage

As mentioned in my quick summary, like most India banks, South Indian 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 South Indian Bank

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

1. Pick a crypto 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 South Indian Bank.

Buy Crypto With Binance

About South Indian Bank

South Indian Bank Limited (SIB) is a significant private sector bank located in Thrissur situated in Kerala, India. South Indian Bank has 933 branches, four service branches, one extension counter along with 18 Regional offices across India. South Indian Bank has also established over 1,200 ATMs as well as 120 cash deposit machines.

South Indian Bank was registered in 1928 under the Companies Act. It began business on the 29th January 1929 in Round South, Thrissur.

It was listed in two schedules of the Reserve Bank of India and was made an scheduled Bank on the 7th August 1946. SIB is the one planned Bank that was a private institution of Kerala to obtain a licence in accordance with Section 22 of the Banking Regulation Act 1949, which was granted by the RBI on 17 June 1957.

The Bank has been awarded the ‘UiPath Automated Excellence Award 2021’ for the Best Automation in a Time of Crisis for business continuity.