Buy crypto with Islami Bank Bangladesh (2023) – 3 simple steps
Follow the steps in this article & buy your favourite crypto instantly with your bank account at Islami Bank Bangladesh (IBBL). Buy bitcoin in 3 steps: it’s possible!
How to buy crypto at IBBL?
Step 1: register with a crypto exchange
It is not directly possible to buy crypto with your bank account with Islami Bank Bangladesh. However, with a crypto exchange, you can buy and sell crypto with your bank without any problems. Use one of the exchanges below to start right away:
|Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Islami Bank Bangladesh after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Step 2: verify account & deposit money
Before you can get started trading crypto, you must first verify your account. You have to verify your account by uploading a copy of your passport and proof of address. Keep in mind that it may take a while for your documents to be checked.
After your account is verified, you can directly deposit money from your bank account with Islami Bank Bangladesh to the crypto exchange.
Step 3: buy crypto at IBBL
You are now all set to buy your first crypto using your bank account with Islami Bank Bangladesh. Select the crypto you want to buy and enter the amount you would like to invest. Then press the buy button to send the order directly to the exchange.
You can use different types of orders at Bangladesh Bank:
- Limit order: buy the crypto only at a certain price.
- Stop loss: sell your crypto at a certain loss.
- Take profit: redeem your crypto at a certain profit.
You can sell your crypto again at any time by placing a sell order. After you sold the crypto, you can then transfer the money back to your bank account.
Crypto policy Islami Bank Bangladesh
Bangladesh is not a big fan of crypto and thus the IBBL has indicated that it does not allow crypto investments. However, the decentralized nature of crypto makes it difficult for governments to ban crypto investments altogether.
By depositing money with a platform that offers stocks as well as crypto investments, you avoid having your transactions blocked. I, personally, use eToro for this purpose: as you can invest in both crypto and shares with this broker. Bangladesh Bank cannot check what you invest in and therefore does not block these transactions.
About Islami Bank Bangladesh
Islami Bank Bangladesh Ltd (IBBL) is an Islamic bank based in Bangladesh. Founded in 1983, the bank is just over 60% owned by foreign shareholders. With over 13,000 staff, 600 ATMs and $12 billion in assets, the bank is clearly the largest in Bangladesh.
Islami Bank Bangladesh was founded in 1983 by investors from Saudi Arabia and Kuwait. The bank holds an important position in society: over 90% of the country’s Islamic banking assets are managed by the bank.
Can you buy Bitcoin from Islami Bank Bangladesh?
You can buy Bitcoin from IBBL through a little workaround. You can link your bank account directly to a reliable crypto exchange. Do research well whether crypto suits you to avoid nasty surprises!