Can you buy crypto at Bank Mandiri? Bitcoin tutorial
Bank Mandiri is one of Indonesia’s largest banks, but they don’t offer Bitcoin yet. By following the steps in this guide, you can still buy Bitcoin with your bank account at Bank Mandiri.
How to buy crypto with Bank Mandiri?
Step 1: open an account with a crypto exchange
You need an account with a crypto exchange. Crypto exchanges are companies that allow individuals to buy and sell crypto. Take a look at the overview below & open an account with an exchange that suits you:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Bank Mandiri after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: deposit money at Bank Mandiri
You can deposit money directly into your crypto account using your bank account at Bank Mandiri. You can often also use your credit card, but the transaction fees are higher when opting for this method.
Before you can deposit money, you typically need to verify your crypto account. You verify your account by uploading a copy of your passport and driving licence. It sometimes takes several working days for the crypto exchange to verify the documents.
Step 3: buy crypto with Bank Mandiri
Many novice investors find it difficult to choose what to invest in: after all, you can invest in hundreds of different altcoins at crypto exchanges. Some crypto coins start small and quickly rise in value: consider Binance Coin, for example. Binance’s crypto coin was worth just a few dollars at launch and rose to a value of hundreds of dollars within a year.
When you are sure which crypto you want to buy, you can select it directly within the platform. Enter the amount you would like to invest and press the buy button to place the order. The crypto exchange will then exchange your fiat for the crypto you would like to buy.
What is Bank Mandiri’s stance on crypto?
Bank Mandiri does not have a stated crypto policy, but does not stop crypto transactions. However, the bank has no plans to sell crypto itself yet. In the future, I wouldn’t be surprised if Bank Mandiri starts selling Bitcoin, but until then, you can fortunately visit a crypto exchange without any problems.
About Bank Mandiri
PT Bank Mandiri (Persero) TBK or in short Bank Mandiri is headquartered in Jakarta. The bank is one of Indonesia’s largest banks with more than $110 billion in assets under management.
Bank Mandiri has a total of more than 2,500 branches and 13,000 ATMs. The bank also operates under five other names:
- Mandiri Sekuritas
- Mandiri Tunas Finance
- AXA Mandiri Financial Services
- Bank Madiri Taspen
- Mandiri AXA General Insurance
The bank came into existence in 1998 after the government merged four banks. Today, the bank has a key role in Indonesia’s economy.
What are the risks of investing in crypto?
- Volatility: you can lose a large part of your investment due to strong fluctuations.
- Security: hackers can gain access to your crypto investments.
- Regulation: not all governments are equally friendly towards crypto.
- Technology: technology is developing rapidly. Technological issues can lead to losses.
- Liquidity: the crypto market is relatively small, which can make it difficult to find buyers for smaller crypto coins.
Can you buy Bitcoin from Bank Mandiri?
You cannot buy Bitcoin & other altcoins from Bank Mandiri. However, by following the steps in this guide, you can buy crypto without any problems by linking your bank account to a crypto exchange. By considering the risks of crypto investments, you can yourself from a crypto disaster.