Buying bitcoin & other crypto at Al Baraka (2023)
Al Baraka does not offer crypto itself, but this does not mean it is impossible to invest in Bitcoin. Follow the 3 steps in this article to buy your favourite crypto directly from Al Baraka.
How to buy crypto with Al Baraka?
Step 1: open an account with a crypto exchange
A crypto exchange allows you to buy and sell Bitcoin directly. In the overview below, you can immediately see which exchanges you can go to:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Al Baraka after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.|
You will need an account with a crypto exchange, as Al Baraka itself does not offer crypto investments. Fortunately, opening an account with a crypto exchange takes little time.
Step 2: deposit money with Al Baraka
Before you can deposit money using your Al Baraka bank account, you must first verify your account. You verify your account by uploading a copy of your passport and proof of address. After these documents are processed, you can immediately start trading crypto.
Step 3: buy crypto at Al Baraka
You can trade in dozens of cryptocurrencies at crypto exchanges. It is wise to compare options, as returns fluctuate widely.
Once you know which crypto you want to buy, you can select it within the trading platform. Enter the amount you would like to invest. You can already invest in crypto with a small amount, as crypto coins like Bitcoin are divisible into smaller units. By pressing the buy button, you send the order directly to the crypto exchange. Congratulations, you have now opened your first crypto investment!
What is Al Baraka’s crypto policy?
Al Baraka does not have a stated crypto policy, but at least it is not anti-crypto. You can invest in popular cryptocurrencies such as Bitcoin and Ethereum without any problems at the bank. The bank does not block transactions to crypto exchanges, but it is still important to research the exchange carefully, so you do not lose money to theft.
About Al Baraka
Al Baraka is a bank based in Bahrain and operates in more than 15 different countries. You can find branches of Al Baraka in Jordan, Egypt, Tunisia, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon, Syria, Morocco and Germany.
The bank was founded in 1978 and operates 600 branches. The bank operates under the following names:
- Jordan Islamic Bank
- Al Baraka Bank Egypt
- Al Baraka Bank Tunisia
- Al Baraka Bank Sudan
- Al Baraka Islamic Bank (AIB)
- Al Baraka Turk Participation Bank
- Al Baraka Bank Limited
- Banque Al Baraka D’Algerie
- Al Baraka Bank Lebanon
- Al Baraka Bank Syria
- Al Baraka Bank Pakistan
- Al Baraka Bank Representation
- BTI Bank
Obviously, you can follow the steps in this guide for all the mentioned banks. That way, you can invest in crypto at any branch of the bank.
Can you buy Bitcoin at Al Baraka?
You can 100% buy Bitcoin & other crypto with your bank account at Al Baraka. However, it is essential to carefully follow the 3 steps at the beginning of this article. This is because you cannot buy Bitcoin directly with your bank account at Al Baraka. By only investing with money you can afford to lose, you avoid disappointments.
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.