How to buy crypto (Bitcoin) at İşbank?
Are you considering buying crypto with your bank account at İşbank? Follow the steps in this short guide!
How to buy crypto with İşbank?
Step 1: open an account with a crypto exchange
It is not yet possible to buy crypto at Garanti Bank. However, you can link your bank account directly to a reliable crypto exchange. In the overview below, you can immediately see which crypto exchanges you can join:
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Step 2: depositing money with İşbank
Before you can trade crypto, you must first verify your account. You verify your crypto account by uploading a copy of your passport and proof of address.
After your account is fully verified, you can deposit money directly from your bank account with Isbank. Please note that your bank account and crypto account must be in the same name.
Step 3: buy crypto with İşbank
After your account is verified, you can immediately buy your favourite crypto at Isbank. To do this, navigate within hat platform to the crypto you want to buy.
It can sometimes be difficult to choose between the hundreds of different altcoins available. Personally, I prefer to opt for big, well-known crypto coins like Bitcoin & Ethereum. If you are more adventurous, you can also consider one of the many altcoins.
When you are sure which crypto you want to invest in, you can open the order screen. Enter the amount you want to invest and press buy to send the order to the bank. It will then take a few seconds to minutes before you can track your position back within your crypto account.
What is İşbank’s crypto policy?
Isbank is clearly positive towards blockchain technology; the bank is even the first bank to provide guarantees for foreign trading on the blockchain. Despite the bank’s positive attitude towards crypto, they do not offer cryptocurrency trading to their customers
Consequently, the Turkish government itself doesn’t have a very positive stance on crypto. The government has taken measures through which it wants to regulate and control crypto trading. Also, payment services are not allowed to process cryptocurrencies. It is therefore important to choose a reliable crypto exchange when you want to use your bank balances at Isbank to buy Bitcoin.
İşbank itself does have a positive stance on crypto. Therefore, by transferring money to a popular crypto exchange, you can invest in crypto without any problems.
İşbank or in full also called Türkiye İş Bankası is Turkey’s largest bank measured by the bank’s assets. With more than 1,174 branches spread across Turkey, North Cyrus, Iraq, Kosovo and the UK, the bank is a major business in Turkey.
The history of İşbank goes back to the year 1918. After the First World War, the Ottoman Empire fell apart and Celal Bayar decided to open a national bank to rebuild the country.
Can you buy Bitcoin at Isbank?
Isbank does not yet offer crypto services and has no plans to do so in the near future. However, by following the steps in this article, you can still invest in your favourite crypto currencies without any problems. It is always advisable to do your own research, as the crypto market is very unpredictable. Always invest only with money you can afford to lose in crypto.
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.