Buying bitcoin & other crypto with ADCB (2023)
Are you considering investing in crypto with ABCD? You can! In this guide, I explain directly how to buy crypto using your bank account with Abu Dhabi Commercial Bank.
How to buy crypto with ADCB?
Step 1: open an account with a crypto exchange
Since ADCB does not sell crypto itself, you must first open an account with a crypto exchange. Crypto exchanges are companies that bring supply & demand together. The overview below shows you directly which companies you can open an account with:
| Brokers | Information | Register |
|---|---|---|
 | Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with ADCB after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. |
With more and more providers, it is possible to try out crypto trading for free with a demo. This is definitely recommended, as it allows you to try out different strategies risk free.
Step 2: depositing money with ADCB
Before you can deposit money, you must first verify your crypto account. To do this, upload a copy of your passport & proof of address and complete the questionnaire. After your account is verified, you can often transfer funds directly from your bank account with ADCB. This is recommended, as deposits with your credit card are much more expensive.
Step 3: buy crypto at ADCB
Now select the crypto you want to invest in within the crypto exchange’s trading platform. Within the order screen, you then enter the amount you want to invest. Press buy to send the order to the exchange & you will immediately open your first investment.
Within the open positions, you can then see how your crypto investment is doing. You can thus track your profits & losses in real-time. Do you think it’s a good time to sell your crypto? Seel your crypto and send your funds back into your bank account at ADCB at any time.
What are the risks of crypto investments?
- Theft: hackers are always lurking, so it is important to secure your crypto account properly.
- Volatility: crypto prices are in constant flux. You therefore need a high-risk tolerance when you want to invest in crypto.
- Scams: many crypto scams exist; think of pump and dump schemes and ICOs of scam tokens.
- Storage: when storing crypto on an external wallet, you need to remember your password well. If you lose access, you can never access it again.
- Government: government regulations can also throw a spanner in the works. For example, you can see that crypto investments are completely banned in China.
What is ADCB’s crypto policy?
ADBC can be seen as a crypto-friendly bank. Although it is not possible for users to invest in crypto directly at the bank, you can in fact buy crypto from a crypto exchange. The Abu Dhabi government is positive towards crypto, so this should not pose any problems.
About Abu Dhabi Commercial Bank
Abu Dhabi Commercial Bank or ADCB is a bank in the United Emiratic States. The bank has been around since 1985 and is headquartered in Abu Dhabi. The government holds the majority of shares. ADCB is the third largest bank in the UAE and employs over 5,000 people. With about $150 billion in assets under management, the bank is a major player in the region.
Can you buy Bitcoin at ADCB?
It is not possible to buy Bitcoin & other crypto at ADCB. However, you can link your bank account to a crypto exchange and still exchange your bank balances for crypto that way. At the beginning of this article, I will show you which exchanges you can go to.
