How to buy crypto (Bitcoin) from Bank Mellat?
Iran’s government has a fairly positive stance on crypto. Still, it is not yet possible to buy Bitcoin & other crypto directly with your bank account at Bank Mellat. By following the steps in this article, you can still invest in crypto coins with your bank account.
How to buy crypto with Bank Mellat?
Step 1: open an account with a crypto exchange
Since Bank Mellat does not offer crypto itself, you need an account with a reliable crypto exchange. In the overview below, you can immediately see which parties you can start investing with:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Mellat after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
You can try the possibilities at some crypto exchanges without risking your funds with a free demo. That way, you can test different strategies.
Step 2: depositing money with Bank Mellat
You can deposit money directly from your bank account at Bank Mellat to the crypto exchange. It is important that your bank account with Bank Mellat is in the same name as your crypto account.
Step 3: buy crypto with Bank Mellat
Within the crypto platform, select the cryptocurrency you want to invest in. You can choose from hundreds of different altcoins besides Bitcoin these days. Altcoins have more potential for high returns, but the risk is also a lot higher.
Within the order screen, enter the amount you want to invest and press buy. You can invest a small amount without any problems, as Bitcoin is divisible into smaller units. You can then sell your crypto again at any time and have the money returned to your bank account at Bank Mellat.
What is Bank Mellat’s crypto policy?
Iran’s government is fairly positive about crypto. They strongly believe in blockchain and are exploring how to research a cryptocurrency of their own. However, at the time of writing, the government is still unsure whether to offer crypto investments to the country’s residents
Bank Mellat is also working on crypto projects itself. For instance, the bank is working with four other banks to launch a crypto backed by gold.
Bank Mellat has not published a clear crypto policy itself, but does not seem to have any problems with crypto investments. Therefore, it may definitely be worth investing in Bitcoin & other crypto at Bank Mellat.
About Bank Mellat
Bank Mellat was founded in 1980 and is headquartered in Theran, which is the capital of Iran. The bank does not only operate in Iran, it is also active in Armenia, Azerbaijan, Bahrain, France, Hong Kong, Iraq, South Korea, Oman, Russia, Turkey, UAE and the UK.
The bank suffered greatly from sanctions imposed by Europe and the UK. However, the bank won the court cases and was compensated for the sanctions imposed. This will allow Bank Mellat to grow again and hopefully produce good results.
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Can you buy Bitcoin at Bank Mellat?
Despite Iran and Bank Mellat’s positive attitude towards crypto, it is not yet possible to invest in crypto at Bank Mellat. However, by following the steps in this mini guide, you can still buy Bitcoin with your bank account at Bank Mellat without any problems. Always pay attention to the latest market developments: the price of Bitcoin is very volatile and can suddenly rise or fall sharply.