How to buy crypto (Bitcoin) with Bank of Azerbaijan (ABB)
Do you want to buy crypto with your bank account at Bank of Azerbaijan (ABB)? In this article, you will discover how to buy Bitcoin & other crypto at ABB.
How to buy crypto at the Bank of Azerbaijan?
Step 1: sign up with a crypto exchange
Before you can buy crypto using your bank account with ABB, you first need an account with a crypto exchange. Use the buttons below to open an account with a crypto exchange of your choice:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with ABB after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
Step 2: deposit money from ABB
Before you can deposit money to the crypto exchange using your bank account with ABB, you first need a verified account. You can verify your account by uploading a copy of your passport and your address. Pay close attention to the fees for depositing money; these can vary greatly depending on the exchange.
Step 3: buy crypto with ABB
After the money arrives in your account, you can immediately buy your favourite crypto. You can choose from 100+ different crypto coins, but only a handful of cryptocurrencies hold any actual value.
When you are sure which crypto you want to buy, you can immediately place an order. Within the order screen, you always enter the amount you would like to invest. If necessary, you can also use a limit order; you will then only open the position for a certain amount.
After you have bought the crypto, you can sell it at any time. To do so, place a sell order within the trading software. You can then transfer the money directly back to your bank account at Bank of Azerbaijan.
Crypto policy Bank of Azerbaijan
Bank of Azerbaijan has no stated crypto policy. Azerbaijan’s government also has no clear position on crypto. Currently, crypto is not considered a legal payment method within the country.
Despite the fact that crypto is not a legal means of payment, you can transfer money to a crypto exchange at ABB without any problems. It is therefore no issue to invest in crypto at ABB.
The Bank of Azerbaijan or in short ABB (Azərbaycan Beynəlxalq Bankı) is the country’s largest bank. The bank’s shares are wholly owned by the government, so as an investor you cannot become a co-owner of the company.
ABB was founded in 1992 and its headquarters can be found in Baku. With over a million customers and more than 2,500 clients, it is the biggest player in Azerbaijan.
Can you buy Bitcoin at Bank of Azerbaijan?
It is not possible to buy Bitcoin & other crypto at ABB at the time of writing. The bank is also not planning to offer crypto in the near future. However, by following the steps in this short guide, you can still invest in crypto without any problems. Always study the market extensively, though; only when you really understand how crypto works should you consider investing.
Over Alex Mostert
Already in 2015 I bought my first Bitcoins for roughly $300, only to sell them shortly after for $900. At the time I thought I benefited from the deal of the century, but I, of course, had no idea Bitcoin would become as popular as it is today. On this website, I want to teach everybody how to buy Bitcoin through their bank.