Can you buy crypto at Nedbank (2023)?
Nedbank is not yet planning to offer crypto to its customers. However, you can link your bank account with Nedbank to a crypto exchange without any problems. In this article, I will show you how to buy Bitcoin & other crypto with Nedbank.
How to buy crypto with Nedbank?
Step 1: open an account with a crypto exchange
Crypto exchanges are companies that allow individuals to invest in popular cryptocurrencies. In the overview below, you can immediately see at which exchanges you can start investing right away:
| Brokers | Information | Register |
|---|---|---|
 | Trade in Bitcoin & other cryptos! Try for free with a demo & deposit money with Nedbank after. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. |
Step 2: depositing money with Nedbank
Make sure that the bank account and your crypto account are in the same name: that way, you can be sure that your deposit will arrive without issues. Also pay close attention to any additional charges for transferring money via your bank or credit card.
Step 3: buy crypto with Nedbank
You can invest in many different cryptocurrencies these days using your bank balances at Nedbank. Take your time to compare different crypto: that way, you can make an informed choice.
Once you have made a decision, you can place an order. Open the order screen within your crypto platform and enter the amount you want to invest. By pressing buy, you send the order directly to the crypto exchange. It only takes a few seconds for the order to be fully executed. You can then track your investment in real-time within your account.
What is Nedbank’s crypto policy?
Rumours circulated than Nedbank was planning to close crypto exchange bank accounts. This turned out not to be the case; Nedbank indicated that they did not plan to close crypto exchange bank accounts. This is a positive sign and makes it easier to invest in crypto with your bank account at Nedbank.
Nedbank seems to be interested in the latest technological developments. For instance, the bank is also active in the Metaverse and has bought virtual land there. This will allow the bank to offer its services digitally in the future as well.
Nedbank also regularly publishes informative pieces on crypto. In this article, for example, they cover how to declare crypto in your tax return. In summary, you shouldn’t face any problems when you decide to invest in crypto using your bank account with Nedbank.
About Bank Nedbank
Nedbank is a major bank in South Africa, but also operates in Angola, Eswatini, Lesotho, Malawi, Mozambique, Namibia and Zimwabwe. Nedbark is headquartered in Johannesburg.
The bank was founded in 1888 in Amsterdam under the name Nederlandsche Bank en Creditvereeniging voor Zuid-Afrika. Since 1969, the bank has been fully under South African control. The bank’s shares are traded on the Johannesburg Stock Exchange.
The bank also operates under the following brand names:
- MBCA Bank Limited (Zimbabwe)
- Nedbank (Eswatini)
- Nedbank (Lesotho)
- Nedbank Nambia Limited
- Nedbank Limited (Malawi)
- Nedbank (Mozambique)
- Nedbank (Isle of Man)
- NedEurope Limited (Isle of Man)
- Nedgroup International Holdings Limited
- Nedgroup Investments Africa
Obviously, you can also invest in crypto with these branches by following the steps in this guide.
Can you buy Bitcoin from Nedbank?
Nedbank does not offer crypto itself, but you can still buy Bitcoin with your savings. You do this by linking your bank account at Nedbank to a reliable crypto exchange. At the beginning of this article, you can find out how to buy Bitcoin from Nedbank within 3 easy steps. Always keep in mind the risks when you start investing in crypto.
