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How to Buy Crypto with Vidarbha Konkan Gramin Bank in India

Last updated on November 12, 2023

Quick Summary: While Vidarbha Konkan Gramin 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.

Vidarbha Konkan Gramin Bank Homepage

As mentioned in my quick summary, like most India banks, Vidarbha Konkan Gramin Bank 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.

There are a large number of cryptocurrency exchanges that you can use 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 VKGB

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 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 Vidarbha Konkan Gramin Bank.

Buy Crypto With Binance

About Vidarbha Konkan Gramin Bank

Vidharbha Konkan Gramin Bank came in existence on February 28th 2013, following the amalgamation of the once-in-a-lifetime Wainganga Krishna Gramin Bank, Solapur and Vidharbha Kshetriya Gramin Bank, Akola, Maharashtra State.

The goals of the Bank is to boost the economic condition of urban and semi-urban areas by providing financial and other assistance for trade, agriculture industries, commerce, and other productive endeavors by the provision of timely and sufficient credit and other facilities , and provide employment opportunities in small towns and villages; encouraging the habit of saving among rural poor via banks and completing the objective of Financial Inclusion as proposed by the Government of India and Reserve Bank of India.

The authorized capital of the Bank is Rs.1000 Lakhs and the paid capital Rs.700 Lakhs. The Governments of India, Government of Maharashtra and Bank of India have contributed 50 percent, 15% or 35% share in the capital share for the Bank.

The operational area of the Bank encompasses 17 districts in Maharashtra State viz. Chandrapur, Gadchiroli, Wardha, Bhandara, Gondia, Nagpur, Buldhana, Akola, Washim, Yavatmal, Amaravati, Solapur, Sangli, Satara, Kolhapur, Ratnagiri and Sindhudurg. The Bank serves its customers via 318 branches, one satellite and the 84 Ultra Small branches located across the region of operation. All of these branches operate using the Core Banking Solution platform.

The board of directors consists members of 9 Directors. In addition to Chairman from Sponsored Bank, there is one nominee director of RBI and NABARD Two Nominee directors from each the Sponsored Bank as well as Government of Maharashtra and Central Government.