Buy bitcoin & other crypto at Bank of China (2023)
It is possible to buy crypto with your bank account at Bank of China in 2023. Follow the steps in this article to buy Bitcoin with your bank account!
How to buy crypto with Bank of China?
Step 1: open an account with a crypto exchange
You may be wondering how to buy crypto from Bank of China. You will need an account with one of the crypto exchanges below to do this:
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A crypto exchange facilitates crypto trading for retail investors. A crypto exchange ensures that supply and demand are matched. This allows you to directly exchange your fiat for your favourite cryptocurrency.
Step 2: verify account & deposit money
Before you can invest in crypto, you must first verify your account. You verify your account by uploading a copy of your passport and proof of address. In some cases, you also have to fill in a questionnaire about your financial situation. After your account is verified, you can directly deposit money from your bank account at Bank of China
Step 3: buy crypto with Bank of China
Do you know which crypto you want to buy? Select this crypto within the trading platform. Within the order screen, you then enter the amount you would like to invest. You can optionally choose to use a limit order. With a limit order, the crypto position only opens when a certain price point is hit.
It is wise to evaluate your crypto investments regularly. You can sell your crypto at any time and return the money to your bank account at Bank of China.
What is Bank of China’s stance on crypto?
Like all other Chinese banks, Bank of China is not allowed to offer crypto to its customers. The Chinese government is anti-crypto and has banned companies within China from conducting crypto transactions.
It is often still possible to invest in crypto via peer 2 peer or an international crypto exchange. However, the Chinese government is increasingly cracking down on crypto investments. It is therefore important to keep a close eye on developments when using your bank balances with the Bank of China for crypto investments.
About Bank of China
The Bank of China (BOC) is a Chinese state-owned bank headquartered in Beijing. It is the fourth-largest bank in the world and the second largest within China.
Established in 1912, the bank was also responsible for printing paper money until 1942. The Bank of China Hong Kong & Bank of China Canada are separate entities and are under less strict supervision.
The Bank of China manages over $3000 billion in assets and employs over 300,000 people. Despite the bank increasingly looking beyond its national borders, 96% of its revenue still comes from China.
Can you buy Bitcoin from Bank of China?
It is definitely possible to buy Bitcoin & other crypto from Bank of China. However, you need to take some extra steps as the bank itself does not sell crypto. At the beginning of this article, I explain in clear steps how you can start trading crypto right away. Are you ready for the crypto revolution?