Can you buy crypto at Emirates NBD Bank?
Do you want to buy crypto with your bank account at Emirates NBD Bank? You can! Follow the 3 steps in this tutorial to buy Bitcoin & other crypto directly with your bank account.
How to buy crypto with Emirates NBD Bank?
Step 1: open an account with a crypto exchange
Emirates NBD does not offer crypto investments itself. However, you can connect your bank account with Emirates NBD to a reliable crypto exchange. In the list below, you can see which exchanges you can go to:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Emirates NBD after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
A crypto exchange is a company that brings together the supply & demand for a crypto. This allows individuals to invest in their favourite crypto coins even with a small amount of money.
Step 2: deposit money with Emirates NBD
After opening an account with a reliable crypto exchange, you can deposit money directly from your bank account with Emirates NBD. Please note that processing your deposit may take a few working days. Also, in most cases, you have to go through verification steps before you can start investing.
Step 3: buy crypto with Emirates NBD
You can invest in hundreds of different altcoins at most crypto exchanges. Some altcoins, such as Ethereum, are very valuable and well-known. However, most of the altcoins are quite unknown and therefore very volatile. Therefore, make sure you only invest in altcoins after you have gained enough experience.
When you are sure which crypto you want to buy, you can select it within the crypto platform. You can invest in crypto from as little as $1 with most exchanges. Press the buy button to submit the order and wait a few seconds. You will then see your crypto position within your open orders within the trading platform.
What is Emirates NBD’s crypto policy?
Emirates NBD does not have a stated crypto policy, but follows the open stance adopted by the government. You can therefore link your bank account with Emirates NBD to a reliable crypto exchange without any problems. It is important that you select a crypto exchange that has been around for some time. That way, you can count on a certain level of authority and you won’t just lose your deposits in case of bankruptcy.
About Emirates NBD
Emirates NBD bank is almost entirely government-owned and it is one of the largest banks in the Middle East. The bank was originally established in 1963 as Dubai’s first national bank. The bank has grown substantially since then and manages over $200 billion in assets. It also currently employs 9,000 people and plans to expand its operations further into India.
What can you use the blockchain for
Emirates NBD has written an interesting article on the various applications of blockchain. I will summarise them here:
- Accountancy: blockchain ledger can simplify accounting.
- Art: with NFTs, art has taken on new meaning.
- Concerts: you could attend concerts in the metaverse in the future.
- Contracts: smart contracts allow you to create decentralised contracts.
- DEFI: banks are no longer necessary for carrying out financial transactions.
- Healthcare: you can use blockchain to store patient data.
- Loyalty: loyalty programmes can also run perfectly on blockchain.
- Voting: voter fraud is a thing of the past when blockchain is used.
Its decentralised and reliable structure makes blockchain ideal for storing and processing large amounts of data. It is good to see Emirates NBD Bank realising this importance. I wonder how long it will be before the bank decides to start offering crypto services themselves.
Can you buy Bitcoin at Emirates NBD Bank?
Emirates NBD Bank does not facilitate crypto trading itself, but has no problems with it when users link their bank account to a crypto exchange. At the beginning of this article, you will find an instant overview of the most reliable crypto exchanges. Always remember that crypto is risky and only invest with money you can afford to lose.