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How to Buy Crypto with State Bank of India in Bangladesh

Last updated on November 12, 2023

Quick Summary: While State Bank of India 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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State Bank of India Homepage

As mentioned in my quick summary, like most Bangladesh banks, State Bank of India 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.

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 SBI Online

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

1. Pick a cryptocurrency 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 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 State Bank of India.

Buy Crypto With eToro

About State Bank of India

The presence of SBI in Bangladesh’s soil Bangladesh began in 1862, when Bank of Bengal took over Dhaka Bank. Since the time, apart from an unintentional interruption between 1962 until 1974 SBI with it’s Bangladesh Operations has been providing services to the citizens of Bangladesh. They resumed their work in 1975 when they opened the Dhaka Branch at Motijheel on 5 May 1975 following the declaration of independence for Bangladesh.

They are currently serving the country through the network of three branches as well as two offshore Banking Units located in Dhaka, Chittagong and Khulna.They facilitate process of Indian VISA by utilizing the Indian Visa Application Centres (IVACs) located in different locations in Bangladesh. The Bangladesh Operations is facilitating Indo-Bangla trade in a significant way. It is equipped with modern banking facilities that cater to both corporate and retail banking services, such as Forex Remittance, Forex, as well as Treasury Operations.

They provide Technology that are based on technology, such as CORE Banking Solutions, ATM as well as EMV-compliant VISA debit Cards and International Travel Credit Cards, Internet Banking, Trade Portal, E-Commerce, YONO, SBI Bangladesh (Mobile App) Integrating to NPSB in all the clearing operations.

The Bank is the largest commercial bank by deposits, assets branches, customers and employees, while enjoying the continued trust that millions of clients from all walks of life. SBI is headquartered in Mumbai is a bank that offers a diverse variety of services and products to commercial companies, large corporates institutions, public bodies and other customers via its branches and outlets, as well as joint ventures and subsidiaries.