Buying bitcoin & other crypto at Ziraat Bank (2023)
A lot of people buy Bitcoin & other crypto with their bank account at Ziraat Bank. To get you started, I have written a clear guide in this article that will help you buy crypto at Ziraat Bank without any problems.
How to buy crypto with Ziraat Bank?
Step 1: open an account with a crypto exchange
Before you can buy crypto with Ziraat Bank, you first need an account with a crypto exchange. This is because Ziraat Bank does not offer crypto coins itself. The overview below shows which crypto exchanges you can open an account with:
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Step 2: verify account
Before you can deposit money, you must first verify your account. You verify your account by uploading the following documents:
- A copy of your passport
- Proof of address
After an employee of the exchange approves the documents, you can deposit money from your bank account with Ziraat Bank.
Step 3: deposit money from Ziraat Bank
You can deposit money directly from your bank account at Ziraat Bank to the crypto exchange. Keep in mind that many crypto exchanges charge extra fees for currency exchange. It is better to deposit money by bank transfer, as banks charge extra fees for credit card transactions.
Step 4: buy crypto with Ziraat Bank
You are now all set to buy your first crypto with your bank account at Ziraat Bank! Take a moment to compare the different crypto coins. When you are sure which crypto you want to buy, you can place an order.
Within the order screen, you then enter the amount you want to invest. Here, you can also use one of the following order types:
- Limit order: you open the crypto position only at a certain price.
- Take profit: you close the crypto position at a certain profit.
- Stop loss: you close the crypto position at a certain loss.
After you send the position to the crypto exchange, it may take a few seconds to minutes for it to be processed. Congratulations, you have now executed your first crypto transaction!
What is Ziraat Bank’s crypto policy?
Ziraat bank is fairly positive towards crypto and does not simply block transactions to reliable exchanges. It is always good to compare different crypto exchanges: that way, you avoid losing money if the exchange unexpectedly goes bankrupt.
Strategy for buying crypto
It is important to use a good strategy for buying & selling crypto. Many novice investors buy up random crypto at random prices. This isn’t very smart: some crypto coins end up worthless. Therefore, in any case, always read through the whitepaper: that way, you know what the developers intend to do with the crypto coin.
The timing of a crypto transaction also matters. Buying a large amount of crypto in one go can be extra risky. This is because if you do this at the peak, you could lose a hefty amount. It may therefore be wiser to enter at different moments, which is also called dollar cost averaging. This way, you will achieve an average return on your crypto investments.
About Ziraat Bank
Originally founded in 1863, Ziraat Bank offers various financial services. With about 1,750 branches, the bank is a major player in Turkey. Ziraat Bank is headquartered in Ankara, which is the capital of Turkey. Over 25,000 employees work for Ziraat Bank at the time of writing.
Can you buy Bitcoin from Bank Ziraat Bank?
It is not possible to buy Bitcoin & other crypto at Ziraat Bank at the time of writing. However, you can invest in crypto by linking your bank account to a reliable crypto exchange. At the beginning of this guide, you will find a clear overview of the parties you can turn to. Always remain vigilant, as crypto investments are very risky.