VTB Bank: Buying Bitcoin & other cryptocurrencies Tutorial
In this comprehensive guide, you will learn how to buy Bitcoin & other crypto using your bank account with VTB Bank. Follow the steps & start trading crypto right away!
How to buy crypto with VTB Bank?
Step 1: open an account with a crypto exchange
It is not yet possible to buy crypto directly with your bank account at VTB Bank. However, you can still invest in crypto by linking your account to a reliable crypto exchange:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with VTB bank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
A crypto exchange is a company that allows you to buy and sell crypto as an individual. You can thus make a small or large investment in your favourite crypto project.
Step 2: deposit money with VTB Bank
You can deposit money into your crypto account by transferring your funds from VTB Bank. Keep the processing time in mind: with most crypto exchanges, it takes several working days for the transaction to be fully completed.
Step 3: buy crypto with VTB Bank
Select the crypto you want to buy. Personally, I mainly buy Bitcoin & Ethereum, but you can also invest in hundreds of other altcoins. Do research carefully what the different cryptocurrencies stand for. By no means all developers have a clear future vision for their cryptocurrency.
Within the order screen, you then enter the amount you would like to invest. Press the buy button to send the order to the exchange. It then takes a few seconds to minutes for the transaction to be processed.
What is VTB Bank’s crypto policy?
VTB Bank, like other Russian banks, doesn’t’ have a negative stance on crypto. VTB Bank has not published a clear policy, but does not block transactions to crypto exchanges. Do pay close attention to whether sanctions block the crypto exchange you want to use.
About VTB Bank
You can find VTB Bank’s headquarters in Moscow, while the bank is registered in St Petersburg. The bank’s shares are owned by three Russian parties. The bank manages about $283 billion in assets, making it one of Russia’s largest banks. The bank was founded in 1990 with support from State Bank and the finance ministry.
Can you buy Bitcoin from VTB Bank?
You cannot buy Bitcoin directly from VTB Bank, but by linking your bank account to a reliable crypto exchange, you can still invest in crypto without any problems. Do research carefully whether the crypto exchange you select accepts Russian customers.
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.