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How to Buy Crypto with Union Bank of India

How to Buy Crypto with Union Bank of India

By Sagar Roy

Last updated on January 3, 2024

Quick Summary: While Union 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 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.

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

Thankfully there are many cryptocurrency 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 Union Bank Of India

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

1. Pick a cryptocurrency 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.

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 Union Bank of India.

Buy Crypto With Binance

About Union Bank of India

Union Bank of India, often referred to in the media as Union Bank or UBI, is an Indian public sector bank with its headquarters in Mumbai. It has more than 120 million customers, and a total revenue of US$106 billion. Following the amalgamation of Corporation Bank and Andhra Bank that took effect on April 1, 2020, the amalgamated bank became one of the biggest PSU banks by branches, with 8700branches.

Four of them are outside of the United States with offices in Hong Kong, Dubai, Antwerp in Antwerp, Hong Kong, Dubai and Sydney. UBI also has offices for representative services in Shanghai, Beijing and Abu Dhabi. UBI is a business in United Kingdom through its wholly owned subsidiary, Union Bank of India (UK). The bank operates an extensive network of 8700+ branches across the country and ATMs with 11100+ ATMs. more than 15300 Business Correspondent Points providing services to more than 120 million customers and 75000plus employees.

UBI has expanded internationally since 2007 by opening branches with offices in Abu Dhabi, United Arab Emirates and in Shanghai, China. In 2008, it opened an office located in Hong Kong. It was in 2009 that Union Bank opened a representative office in Sydney, Australia.

On the 30th of August the Financial Minister Nirmala Sitharaman announced that Andhra Bank and Corporation Bank would be merged into Union Bank of India. The merger will create Union Bank the fifth largest public sector bank in India that has assets totalling Rs14.59 lakh crore (US$180 billion) and 9,609 branches. Its Board of Directors of Andhra Bank approved the merger on the 13th of September. In the Union Cabinet approved the merger on March 4 and the merger was complete on April 1, 2020.

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Sagar Roy

Sagar Roy is a dynamic finance content creator whose expertise shines in the realms of corporate finance and sustainable investment. His commitment to explaining complex financial concepts in an accessible way has made him a beloved figure among those looking to make informed decisions about their corporate ventures and ethical investments.