How to Buy Crypto with Yes Bank in India

Last updated on December 3, 2023

Quick Summary: While Yes 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.

Yes Bank Homepage

As mentioned in my quick summary, like most India banks, Yes 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.

There are a large number of crypto trading platforms 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 Yes Bank

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

1. Pick a cryptocurrency 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 Yes Bank.

Buy Crypto With Binance

About Yes Bank

Yes Bank is an Indian bank with its headquarters located in Mumbai, India and was established in 2004 by Rana Kapoor and Ashok Kapoor in 2004.

It provides a wide array of products that are differentiated for both retail and corporate customers via the retail banking and asset management services. On March 5, 2020, to prevent the bank’s collapse that had an over quantity of unpaid loans in its portfolio, the Reserve Bank of India (RBI) took over the bank. RBI then restructured the board and appointed Prashant Kumar, the former vice-president and chief of the financial department at State Bank of India, as the CEO and MD for Yes Bank, along with Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non-executive chairman of Yes Bank.

The management of the bank, under the new direction of Kumar has immediately changed its position and tackled the market-related and internal issues to restore depositor and customer confidence. Through the concerted efforts of the board and management Mehta promised shareholders of a rapid recovery, even though the Reserve Bank of India (RBI), State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank and other banks provided support to the bank through the historical Yes Bank Reconstruction Scheme 2020.

The company was founded in July of 2020. Yes Bank Ltd closed their follow-on public sale (FPO) with a 95 percent subscription, led from institutional investors.

At the time of writing, 28 July 2021, Yes Bank is an associate of State Bank of India which owns a 30 percent stake in the business.