How to buy crypto (Bitcoin) from Kookmin Bank?
Do you want to buy crypto with your bank account at Kookmin Bank? Follow the steps in this article to buy crypto with your KB Bank account!
How to buy crypto at Kookmin Bank?
Step 1: sign up with a crypto exchange
You need an account with a crypto exchange to buy Bitcoin & other crypto at Kookmin Bank. The overview below shows you directly which exchanges you can join:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with “Kookmin after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: verify your account
Go through the verification steps, so you can start investing in Bitcoin. Most crypto exchanges require you to upload a copy of your passport and proof of address. After these are approved, you can immediately buy crypto with your account.
Step 3: deposit money
You can deposit money directly from your Kookmin Bank account to your crypto account at most crypto exchanges. Keep in mind that there are sometimes extra fees for deposits in different currencies.
Step 4: buy crypto with KB Bank
Now, within the trading platform, select the crypto you want to buy: Bitcoin is still by far the most popular option. Within the order screen, you then enter the amount you would like to invest. You can optionally use a take profit or stop loss; you will then automatically close your investment position at a certain profit or loss.
Step 5: secure your account
It is wise to secure your account properly, there are always hackers lurking around. If you don’t fully trust the crypto exchange you use, it can also be smart to send your crypto to an external wallet. You have 100% control over an external wallet yourself, so you won’t lose your assets if the crypto exchange goes bankrupt.
What are the advantages of buying Bitcoin?
- Return: Bitcoin & other crypto can go up a lot in value in a short period of time.
- Decentralised: because of its decentralized nature, Bitcoin is more anonymous than fiat.
- Blockchain: blockchain technology is revolutionary and will be used for various purposes.
What are the risks of investing in Bitcoin?
- Price loss: Bitcoin is very volatile and regularly falls by 70 or even 80 per cent.
- Theft: hackers are constantly trying to steal users’ crypto assets.
- Complicated: many people find investing in Bitcoin more complicated than stocks.
About Kookmin Bank & stance on crypto
Kookmin Bank is clearly not negative towards crypto, as the bank is the first party to introduce a crypto fund in Korea. You can therefore buy Bitcoin with your bank account without any problems by transferring your money to a reliable crypto exchange.
Kookmin Bank or KB Kookmin Bank is Korea’s largest bank. With 26,000 employees, the bank is a major player. Kookmin Bank regularly buys up other financial companies, causing the company to grow substantially.
Can you buy Bitcoin from Kookmin Bank?
You cannot buy crypto like Bitcoin or Ethereum with your bank account at Kookmin Bank at the time of writing. However, by following the steps in this article, you can still buy your favourite crypto without any issues. However, it is wise to keep the benefits and risks of trading crypto in mind.