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How to Buy Crypto with Summit Bank in Pakistan

Last updated on November 12, 2023

Quick Summary: While Summit 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 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.

Summit Bank Homepage

As mentioned in my quick summary, like most Pakistan banks, Summit Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange and comes with regulations and extra work for the banks.

Thankfully there are many crypto trading platforms 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 Binance 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 Summit 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 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 Summit Bank.

Buy Crypto With Binance

About Summit Bank

Summit Bank is a Pakistani commercial bank that is an affiliate of Suroor Investment and is in Karachi, Pakistan., which is a Mauritius Investment company. It operates a network of 193 branches throughout the nation.

In 2007 Arif Habib Securities Limited acquired Pakistan Operations of Rupali Bank Limited under the scheme for Amalgamation of the State Bank of Pakistan.

In the year 2010, Suroor Investments Ltd. acquired the 59.41 percent part of Arif Habib Bank Ltd. Suroor Investments is an investment firm with its headquarters in Mauritius. In the year the year 2010, Arif Habib Bank Ltd. was changed to Summit Bank Ltd.

Suroor Investments Ltd. acquired the majority of shares in Atlas Bank Ltd. and MyBank Ltd. and these banks later joined by Summit Bank Ltd., expanding the network of the bank to more than 193 branches across the nation.

The Dubai-based businessman Nasser Abdullah Hussain Lootah has stated his desire to acquire majority stake (at at least 50 percent) from Summit Bank Limited while ensuring that the bank meets minimal capital requirements as well as the capital adequacy ratio set by the State Bank of Pakistan.